Dreams Die Hard – LewRockwell
— Read on www.lewrockwell.com/2019/02/james-howard-kunstler/dreams-die-hard/
What they really want is green crony capitalism. A heavily subsidized pipe dream that only exists in their imagination of the government picking winners and losers in the energy sector. JohnBarleycorn
Corporate America will suddenly discover that the Democrats are moving substantially to the left and will do whatever they can to further that goal. The Democrats are becoming the new party of anti-corporation/business. They embrace the misguided ideas of Alexandria Ocasio-Cortez who has been joined by Bernie Sanders and Elizabeth Warren. This new agenda is being endorsed by Senate Majority Leader Chuck Schumer. Schumer would like to outlaw corporations from buying back their own shares unless they pay workers at least $15 an hour, offer paid time off, and health benefits. They try to force the minimum wage higher and act as if companies are the sole source of the problem. Why not eliminate taxation, both state and federal, for people under $15 an hour. Governments never take into account the cost of government itself. You have riots in France when government taxation consumes 46% of total GDP. Schumer has come out and said this is all Trump’s fault because he lowered taxes. So in other words, if Trump never lowered taxes to get companies to bring back money from overseas, then there would not be buybacks. The money would remain overseas instead of being reinvested in America. They buy their own stocks back and the shareholders then reinvest in other companies. They act as if the money vaporizes. They blame Trump for everything as if buybacks just appeared when Trump took office. So where are the fact checkers on this one? Oh, they only fact check Trump. Sorry. Didn’t understand the one-sided new free press rule that allows them to freely report only what they want to.
— Read on www.armstrongeconomics.com/world-news/govt-incompetence/the-democratic-socialist-party-going-after-corporations/
They will go after the corporations that they don’t like. The big pharma, tech, and media giants will get a pass. JohnBarleycorn
Capitalism has often been described by as “a system of competition” by its adversaries, or a system “based on competition.” Naturally, this assertion is usually coupled with a spirited oration on how this “tooth n’ nail” competition psychologically corrupts us – pitting man against man in a “race
— Read on mises.org/wire/freedom-choice-what-sets-capitalism-apart-—-not-competition
This week’s letter focuses on China’s economy.
— Read on www.mauldineconomics.com/frontlinethoughts/bull-in-the-china-shop
Bottom Suddenly Falls Out of Demand in China in Many Sectors | Wolf Street
— Read on wolfstreet.com/2019/01/19/bottom-falls-out-of-demand-in-china-in-many-sectors/
THE WOLF STREET REPORT | Wolf Street
— Read on wolfstreet.com/2019/01/06/the-wolf-street-report-nothing-goes-to-hell-in-a-straight-line-not-even-on-wall-street/
WASHINGTON (AP) — U.S. employers dramatically stepped up hiring in December, adding 312,000 jobs in an encouraging display of strength for an economy in the midst of a trade war, slowing global growth and a partial government shutdown. The Labor Department said Friday that the unemployment rate rose slightly to 3.9 percent, but that reflected a surge in job seekers — a positive for growth. Average hourly pay improved 3.2 percent from a year ago, up from 2.7 percent at the end of 2017. The jolt in hiring offered a dose of reassurance after a tumultuous few months on the financial markets.
— Read on apnews.com/f3925762c6f845dfab936b45c28b4176
The Democrats, leftists,and globalists are not interested in good news about the economy.
Our country is beset by a large number of economic myths that distort public thinking on important problems and lead us to accept unsound and dangerous government policies. Here are ten of the most dangerous of these myths and an analysis of what is wrong with them.
— Read on mises.org/wire/ten-great-economic-myths
Nasdaq, “Tech,” & IPOs are in for Gut-Wrencher | Wolf Street
— Read on wolfstreet.com/2018/12/24/nasdaq-tech-ipo-2018-2019-plus-bust-similar-to-dotcom/
I have been warning that raising taxes is DEFLATIONARY because you are reducing the net disposable income. Governments simply cannot get that through their head. In Romania where protests over political corruption have been unfolding, the government revealed its plan to try to comply with EU austerity raising they hope 10 billion lei ($2.5 billion US) in extra revenue. The market response has been a dramatic crash in Romanian stocks as they plunged and bond yields spiked the greatest in the past several years. This is where the austerity is destroying the European economy. Romania is attempting to reduce its budget deficit that is pushing the country beyond critical EU thresholds. This new tax will include a tax on the banking industry. This is having an immediate knee-jerk reaction where foreign investors are bailing out. Using global warming as an excuse as in France, new taxes on energy and telecommunications companies are included. The government is also reducing social benefits in the retirement system also due to the pension crisis which is worldwide. This is all part of a Global Contagion is the COLLAPSE in Confidence we see into January/February 2019.
— Read on www.armstrongeconomics.com/world-news/taxes/romania-bet-crashes-over-eu-austerity-tax-increases/
John Barleycorn 
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