Tag Archives: Economics

Romain Hatchuel: The Coming Global Wealth Tax

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“Households from the United States to Europe and Japan may soon face fiscal shocks worse than any market crash. The White House and New York Mayor-elect Bill de Blasio aren’t the only ones calling for higher taxes (especially on the wealthy), as voices from the International Monetary Fund to billionaire investor Bill Gross increasingly make the case too.  The context for this argument is the IMF’s expectation that in advanced economies the ratio of public debt to gross domestic product will reach a historic peak of 110% next year, 35 percentage points above its 2007 level.”

http://online.wsj.com/news/articles/SB10001424052702304355104579232480552517224

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David Galland: The Age of Entitlement

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“If you accept as truth that we now live in an Age of Entitlement—an era whose hallmarks are widespread yet ultimately unaffordable and, therefore, undeliverable promises, benefits, services, etc.—then it behooves us to fill another gourd of maté and imagine where it all leads.  Before we engage in that exercise, however, it may be worthwhile to review a few supportive data sets, tidily organized into easily grasped charts.  As it’s all but impossible to dial back the bulk of the entitlements—or, given the demographics involved, do much to retard their speedy growth—we can reasonably expect the quantitative easing to accelerate over time.”

http://www.caseyresearch.com/cdd/the-age-of-entitlement

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Tablets at restaurants: Applebee’s, Chili’s to eliminate human interaction

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“The Presto [E La Carte’s tablet] aspires to be the food-services version of the airline check-in kiosk or the ATM or the self-checkout at your local pharmacy. It makes a person’s job a computer’s job, and that cuts costs. Each console goes for $100 per month. If a restaurant serves meals eight hours a day, seven days a week, it works out to 42 cents per hour per table—making the Presto cheaper than even the very cheapest waiter. Moreover, no manager needs to train it, replace it if it quits, or offer it sick days. And it doesn’t forget to take off the cheese, walk off for 20 minutes, or accidentally offend with small talk, either.”

http://www.slate.com/blogs/future_tense/2013/12/03/tablets_at_restaurants_applebee_s_chili_s_race_to_eliminate_human_interaction.html

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ObamaCare’s Latest Numbers Don’t Add Up. You Will Pay the Difference.

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“For ObamaCare to work, 40% of those buying healthcare insurance must be in the ‘rarely get sick’ age group of 18-34. Their money must fund the healthcare of the older buyers.  It turns out that only 28% are buying.  Forget www.healthcare.gov. The entire program is sinking statistically.  How many times does an unmarried male age 21-34 go to a physician? Six times. That means six times in the entire 13-year period.  Why will he buy health insurance? He won’t. ‘Most of them have zero health costs. In fact, the median health care spending for this group is exactly zero,’ said economist Douglas Holtz-Eakin, former head of the Congressional Budget Office.”

http://teapartyeconomist.com/2013/12/04/obamacares-latest-numbers-dont-add-will-pay-difference/

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80 million with employer health plans could have coverage canceled

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“Almost 80 million people with employer health plans could find their coverage canceled because they are not compliant with ObamaCare, several experts predicted.  Their losses would be in addition to the millions who found their individual coverage cancelled for the same reason.   According to projections the administration itself issued back in July 2010, officials knew the impact of ObamaCare three years ago.  In fact, according to the Federal Register, its mid-range estimate was that by the end of 2014, 76 percent of small group plans would be cancelled, along with 55 percent of large employer plans. The reason behind the losses is that current plans don’t meet the requirements of ObamaCare.”

http://www.foxnews.com/politics/2013/11/26/evidence-shows-obama-administration-predicted-tens-millions-would-lose-plans/

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Why I Am an Anarcho-Capitalist

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“The minarchist has to figure out how to persuade the public that even though the state has the raw power to redistribute wealth and fund cute projects everyone likes, it really shouldn’t. The minarchist has to explain, one at a time, the problems with each and every conceivable state intervention.  Instead of requiring the fruitless task of teaching everyone what’s wrong with farm subsidies, what’s wrong with Federal Reserve bailouts, what’s wrong with the military-industrial complex, what’s wrong with price controls the anarcho-capitalist society demands of the public only that it acknowledge the basic moral ideas common to just about everyone: do not harm innocent people, and do not steal.”

http://www.lewrockwell.com/2013/12/lew-rockwell/lew-rockwell-admits-it/

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Central Banking: Sterile as the Grave

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“Central banking is a modern religion, a technocratic one. The world’s top men, the ones who control banking, want to present central banking as a science. Any sense of spontaneity, gaiety or eccentricity is to be drained from the process. What is left is a dutiful acknowledgement that those minding the money store are the best of the best – and chosen for their fealty to honesty and their honest resoluteness in the face of the temptations of corruption. A straight-shooter, fearless, well-meaning, earnest … even a bit nebbish. That’s how the central banker is basically presented to the world. You don’t usually see them in relaxed environments. You hardly ever see them at barbecues.”

http://www.thedailybell.com/news-analysis/34797/Central-Banking-Sterile-as-the-Grave/

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Bill Bonner: Three Major Market Events That WILL Happen

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“Thanksgiving is now out of the way. We can move on to Christmas. And New Year’s Eve. And then 2014. And 2015. And onward into the future!  But what’s in the future? If only we knew…  Making predictions is tough… especially when we have no idea what to expect.  But wait… Some of the most important things we will see in the future have already happened many times.  Yes, dear reader… your editor is going way, way out on a very solid limb. He has identified three things that WILL happen. No doubt about it. He guarantees it.”

http://www.bonnerandpartners.com/three-major-market-events-that-will-happen/

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Party On Wall Street! Larry Summers Wants to Charge People for Saving

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“The Wall Street Party we’ve forecast continues to build.  The JOBS Act is forcing new product into the IPO market.  QE continues in the US, Britain and Europe.  Janet Yellen and Mark Carney are not about to try to taper in any serious way.  The fracking meme continues to be pursued, giving people at least the illusion of more gas and oil to stimulate another industrial boom.  And now, to ensue that money flows copiously, top bankers are obviously considering negative interest rates. How do you increase consumer spending, thus contributing to the Wall Street Party about which we’ve regularly written? Try to increase the velocity of money any way you can.”

http://www.thedailybell.com/news-analysis/34794/Party-On-Wall-Street-Larry-Summers-Wants-to-Charge-People-for-Saving/

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The Aden Sisters on Gold, Commodities and Near-Term Market Prospects

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“We spoke a lot about gold and silver with the Aden sisters here because they are known in part for their precious metals insights. But it is interesting to see that they have 50 percent of their assets in the stock market itself and believe the market could continue its rise.  We do, too.  There will be no significant tapering, from what we can tell.  Janet Yellen, the next Fed head, has expressed a determination to continue stimulation until the job picture brightens (which likely will never really happen). In England, Mark Carney – the Carney barker – has indicated via forward guidance that the BOE continues aggressive monetary stimulation.”

http://www.thedailybell.com/exclusive-interviews/34790/Anthony-Wile-The-Aden-Sisters-on-Gold-Commodities-and-Near-Term-Market-Prospects/

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