The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

Archive for the ‘Economics 101’ Category

Indiana Small Business Owner On Obamacare’s Impact on Jobs and Economy

Posted by iusbvision on March 22, 2011

Posted in 2012, Chuck Norton, Economics 101, Health Law | Leave a Comment »

Dick Morris: Welcome to double dip stagflation

Posted by iusbvision on March 22, 2011

This was the same message we put out two weeks ago HERE.

Posted in Chuck Norton, Click & Learn, Economics 101, Energy & Taxes | Leave a Comment »

Francisco d’Anconia’s Voice Mail

Posted by iusbvision on March 18, 2011

Posted in Chuck Norton, Click & Learn, Culture War, Economics 101 | Leave a Comment »

Senator Marco Rubio with Mark Levin

Posted by iusbvision on March 16, 2011

A great interview. I like Marco because he sees the big picture. He attacks the nations problems as if he wakes up in the morning and reads a list of the reasons why he ran for the job in the first place.

So you hear it in his voice? The anger? The frustration? The worry? Marco has had enough. He is fighting to be nice, but you can tell that he is ready to launch on some bad guys.

More Marco Rubio:

Posted in 2012 Primary, Chuck Norton, Economics 101, Government Gone Wild, Health Law, Obama and Congress Post Inaugration | Leave a Comment »

Dick Morris Reports: Consumer Confidence Collapses

Posted by iusbvision on March 15, 2011

If you want to know what is going on with the economy today, Dick Morris has a very good explanation here.

Dick Morris was the political strategist for Bill Clinton for many years.

Speaking of the former President, Bill Clinton seems to have had enough. He is openly criticizing Obama’s mis-steps with the economy, especially the illegal offshore drilling ban, the yanking of coal permits etc.

This may have also been a political shot across the bow. The Obama Administration has been jerking Hillary around. The State Department thinks it has agreement across the administration on  Middle-East policy makes a cautious but sensible statement on the position of the United States and Obama comes out the very next day and contradicts it. This kind of thing happens too much. Niall Ferguson asked if we have two foreign policies and mocked the administration. That shows a great immaturity at the White House. It also confuses and undermines the confidence of our allies.

This has happened too many times to be an accident.

Being a cabinet Secretary is a brutal job. It is often seven days a week and 13 hours a day. Most Cabinet Secretaries last around 20 months. Obviously there are exceptions but that tells you how brutal the job can be. I have seen recent pictures of Hillary lately and she is not looking well.

I am not saying that Hillary resign because she is doing a bad job, although she is not among the best who had held the position, she should resign because the situation in the administration is intolerable and may be designed to do her political damage.

Posted in Chuck Norton, Economics 101, Obama and Congress Post Inaugration | Leave a Comment »

Average Wages in Wisconsin, Comrades!

Posted by iusbvision on March 14, 2011

By Bob Schneider

The Wisconsin Taxpayers have been raped for a very long time:

2010 Wisconsin Teacher Actual Wages

 

AVERAGE WAGE AND BENEFITS (remember this is for about 9 months of work)

 

TEACHERS:

Milwaukee                   $86,297

Elmbrook                     $91,065

Germantown               $83,818

Hartland Arrwhd      $90,285     (highest paid teacher was $122,952-lowest was $64,942)

Men Falls                      $81,099

West Bend                    $82,153

Waukesha                    $92,902

Sussex                          $82,956

Mequon                       $95,297

Kettle Mor                  $87,676

Muskego                      $91,341

 

STAFF:

Arrowhead – Bus Mng – Kopecky –                                      $169,525

Arrowhead – Principal – Wieczorek –                                 $152,519

Grmtwn –  Asst Princ – Dave Towers –                                $123,222

Elmbrk  –  Burliegh Elemetary – Principal Zahn-           $142,315 (for a primary school!!)

Madison – Asst Principal – McGrath –                                $127,835

 

UNIVERSITY of WISCONSIN STAFF (2009 salary alone):

Michael Knetter – Prof of Bus  –                                      $327,828

Carolyn Martin – Chancellor Mad –                              $437,000

Hector Deluca – Prof of Nutritional Science –          $254,877 (really??)

(source: Madison.com -as the UW removed salaries from being posted online in 2007- why if they are so low?)

 

How about some other “public servant job” ???  What do they make?

 

Madison Garbage men (2009 salary only):

Garbageman, Mr. Nelson earned                        $159,258 in 2009, including $109,892 in overtime and other pay.

Garbageman, Greg Tatman, who earned         $125,598

7 Madison garbage men made over                  $100,000

30 Madison garbage men made over               $70,000

 

 

MILWAUKEE CITY BUS DRIVERS (salary only):

136 Drivers made more than         $70,000

54 Drivers made more than           $80,000

18 Drivers made more than           $90,000

8 Drivers made more than             $100,000

Top Driver made                                $117,000

(Source WTMJ)

 

(In contrast, the average private bus driver makes $9 to $13 an hour (about $20,000 yr) with no pension, or healthcare.)

Source of Data:  http://host.madison.com/

 

Bob Schneider served on Ronald Reagan’s National Security Council. He is a recognized expert on Middle Eastern policy and a respected consultant on international business, foreign affairs and politics. Schneider is also a humorist whose writings are popular among the politically savvy.

 

Posted in Chuck Norton, Economics 101, Is the cost of government high enough yet?, Unions | Leave a Comment »

Solar and Wind receive 20x the govt subsidies of most other energy. China builds coal plants to make wind and solar tech to sell to us.

Posted by iusbvision on March 13, 2011

Solar and Wind are very expensive, harder to transmit, and inconsistent. Solar is so expensive that solar panels plants in the United States are closing and the work is going to China. China builds a coal plant every week.

All of this money going to these subsidies cannot be used for other things. Mandates on electric companies to get more energy from wind and solar are next to impossible to meet so those companies are fined, which forces energy companies to pass those fines to their customers, which helps to send more jobs overseas.

Reason TV asks, if all of these green energy mandates are going to make all of these 21st century jobs, how come in California that has totally backfired. The reasons above explain why and they are reasons that are explained in any first year macroeconomics class.

If you want to see lower energy costs and business to start coming back home there is only one solution. Throw out Democrats en mass. We have trillions in natural gas, oil and other resources that are off limits that we could use to help pay off the national debt and rebuild the economy. We also need a government that costs less than $2 trillion a year instead of the nearly $4 trillion it costs now.

Posted in 2012, China, Chuck Norton, Economics 101, Energy & Taxes, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | Leave a Comment »

Charles Koch Speaks Out

Posted by iusbvision on March 10, 2011

WSJ:

Crony capitalism and bloated government prevent entrepreneurs from producing the products and services that make people’s lives better.

By CHARLES G. KOCH

Years of tremendous overspending by federal, state and local governments have brought us face-to-face with an economic crisis. Federal spending will total at least $3.8 trillion this year—double what it was 10 years ago. And unlike in 2001, when there was a small federal surplus, this year’s projected budget deficit is more than $1.6 trillion.

Several trillions more in debt have been accumulated by state and local governments. States are looking at a combined total of more than $130 billion in budget shortfalls this year. Next year, they will be in even worse shape as most so-called stimulus payments end.

For many years, I, my family and our company have contributed to a variety of intellectual and political causes working to solve these problems. Because of our activism, we’ve been vilified by various groups. Despite this criticism, we’re determined to keep contributing and standing up for those politicians, like Wisconsin Gov. Scott Walker, who are taking these challenges seriously.

Both Democrats and Republicans have done a poor job of managing our finances. They’ve raised debt ceilings, floated bond issues, and delayed tough decisions.

In spite of looming bankruptcy, President Obama and many in Congress have tiptoed around the issue of overspending by suggesting relatively minor cuts in mostly discretionary items. There have been few serious proposals for necessary cuts in military and entitlement programs, even though these account for about three-fourths of all federal spending.

Yes, some House leaders have suggested cutting spending to 2008 levels. But getting back to a balanced budget would mean a return to at least 2003 spending levels—and would still leave us with the problem of paying off our enormous debts.

Federal data indicate how urgently we need reform: The unfunded liabilities of Social Security, Medicare and Medicaid already exceed $106 trillion. That’s well over $300,000 for every man, woman and child in America (and exceeds the combined value of every U.S. bank account, stock certificate, building and piece of personal or public property).

The Congressional Budget Office has warned that the interest on our federal debt is “poised to skyrocket.” Even Federal Reserve Chairman Ben Bernanke is sounding alarms. Yet the White House insists that substantial spending cuts would hurt the economy and increase unemployment.

Plenty of compelling examples indicate just the opposite. When Canada recently reduced its federal spending to 11.3% of GDP from 17.5% eight years earlier, the economy rebounded and unemployment dropped. By comparison, our federal spending is 25% of GDP.

Government spending on business only aggravates the problem. Too many businesses have successfully lobbied for special favors and treatment by seeking mandates for their products, subsidies (in the form of cash payments from the government), and regulations or tariffs to keep more efficient competitors at bay.

Crony capitalism is much easier than competing in an open market. But it erodes our overall standard of living and stifles entrepreneurs by rewarding the politically favored rather than those who provide what consumers want.

The purpose of business is to efficiently convert resources into products and services that make people’s lives better. Businesses that fail to do so should be allowed to go bankrupt rather than be bailed out.

But what about jobs that are lost when businesses go under? It’s important to remember that not all jobs are the same. In business, real jobs profitably produce goods and services that people value more highly than their alternatives. Subsidizing inefficient jobs is costly, wastes resources, and weakens our economy.

Because every other company in a given industry is accepting market-distorting programs, Koch companies have had little option but to do so as well, simply to remain competitive and help sustain our 50,000 U.S.-based jobs. However, even when such policies benefit us, we only support the policies that enhance true economic freedom.

For example, because of government mandates, our refining business is essentially obligated to be in the ethanol business. We believe that ethanol—and every other product in the marketplace—should be required to compete on its own merits, without mandates, subsidies or protective tariffs. Such policies only increase the prices of those products, taxes and the cost of many other goods and services.

Our elected officials would do well to remember that the most prosperous countries are those that allow consumers—not governments—to direct the use of resources. Allowing the government to pick winners and losers hurts almost everyone, especially our poorest citizens.

Recent studies show that the poorest 10% of the population living in countries with the greatest economic freedom have 10 times the per capita income of the poorest citizens in countries with the least economic freedom. In other words, society as a whole benefits from greater economic freedom.

Even though it affects our business, as a matter of principle our company has been outspoken in defense of economic freedom. This country would be much better off if every company would do the same. Instead, we see far too many businesses that paint their tails white and run with the antelope.

I am confident that businesses like ours will hire more people and invest in more equipment when our country’s financial future looks more promising. Laying the groundwork for smaller, smarter government, especially at the federal level, is going to be tough. But it is essential for getting us back on the path to long-term prosperity.

Mr. Koch is chairman and CEO of Koch Industries, Inc. He’s the author of “The Science of Success: How Market-Based Management Built the World’s Largest Private Company” (Wiley, 2007).

 

 

 

Posted in Chuck Norton, Culture War, Economics 101, Energy & Taxes | Leave a Comment »

MEP Nigel Farage: EU Financial Transactions Tax is Kamikaze Economics

Posted by iusbvision on March 10, 2011

The only thing more economically ignorant than American leftists are economically suicidal European leftists as MEP Farage so correctly demonstrates. The tax that has been proposed is so painfully du…. well I will let him say it. He has the cool accent.

Posted in Chuck Norton, Economics 101, Energy & Taxes, Stuck on Stupid, UKIP | Leave a Comment »

Paul Ryan: Official US Debt Projections

Posted by iusbvision on March 10, 2011

Get it yet?

Related:

Obama’s Debt Commission Chair’s Speak Out! To Increase Govt Revenue We Must: Lower the tax rates to 8, 14 and 23%. Make a new lean tax code. Lower the corporate tax rate. Public sector unions over reach. Democrats not serious about budget. Republicans should push for larger cuts.

Sen. Durbin Tells FOX News Sunday: Dems Will Only Cut $10.5 Billion From Bloated Budget – UPDATED!

Via Business Insider:

Posted in 2012, Chuck Norton, Economics 101, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | 2 Comments »

Over two years in the Obama presidency and still no serious toxic asset plan for everyone.

Posted by iusbvision on March 9, 2011

How long have we said that the mortgage crisis has been used to primarily as an excuse for a power grab, with a distant second being helping out those who could use some help?

Of course one of the reasons there are so many empty homes on the market is because the Democrat’s mortgage plans were a failure if you view the top goal as helping out people with at risk loans. If you view them from the primary purpose of a power grab they are a smashing success.

We have been saying this since February 3rd. Obama’s mortgage plan wasn’t serious and would help very few. Anyone who wanted to seriously tackle the economy needed to have a plan for the toxic assets, keep mortgage holders in their homes and get housing prices to steady.  Obama’s plan wasn’t designed to even do that and the economy has continued to suffer for it.

The administration managed to drastically cut down the number of banks. Wealth consolidation is important for the left because the fewer people that have it and control it the easier it is to control that wealth and engage in social engineering. This was done by not suspending the mark to market rule so that mortgage securities would have to be counted as worthless even though that had homes standing besides them, abuse of regulatory enforcement was another method, and another method was the selective use of the buying of bank stocks and issuance of bailout funds. For example: Bank A would get bailout, bank B would not. Bank A buys bank B. Bank A gives money to ACORN or another Obama political ally. The financial reform bill was a massive power-grab as we have recently covered.  This is not conspiracy stuff folks. This is history.

Since that February 3rd article we have covered this story repeatedly and told you how the mortgage crisis was being prolonged as an excuse to gain control of the banks. [LINKS 1, 2, 3, 4, 5, 6, 7, & 1, 2,]. Examination of these links shows we started reporting this before Fox, CNBC’s Rick Santelli and Jim Cramer. [Gratuitous self promotion – why not /wink – editor]

Think about it folks. I will ask this question again. We are over two years into the Obama presidency and since the 2008 campaign everyone has said that priority one for getting the economy back in place is dealing with the toxic assets and at risk mortgages to keep people in their homes and stabilize the housing market. It still has not been done. WHY?

Now we might not be able to afford it even if we wanted to.  The housing market is now in a double dip.

Related:

Is the Bail-out mismanagement just a way to nationalize the banks?

Dick Morris – Obama to troubled home owners: Your out of luck

Clinton Political Strategist Dick Morris: Clinton’s Economic Vision vs. Obama’s

Treasury unveils proposed legislation to seize companies. Morris: This is a plan to nationalize the banks.

Cramer and Morici – Why the Stimulus and Obama’s Mortgage Plan Won’t Work.

Bloomberg: Government has spent 12.8 Trillion buying up/shoring up banks. Still no mortgage help.

Daughter of laid-off worker: Obama where is the help you promised in the campaign?

Posted in 2012, Campaign 2008, Chuck Norton, Economics 101, Mortgage Crisis, Obama and Congress Post Inaugration | Leave a Comment »

Obama’s Debt Commission Chair’s Speak Out! To Increase Govt Revenue We Must: Lower the tax rates to 8, 14 and 23%. Make a new lean tax code. Lower the corporate tax rate. Public sector unions over reach. Democrats not serious about budget. Republicans should push for larger cuts.

Posted by iusbvision on March 8, 2011

UPDATE – Worlds largest bond fund dumps U.S. Treasuries – LINK.

Great interview. All credit to Erskine Bowles, who used to be one of the nastier partisan Democrat hired guns. He has almost completely adopted a near Steve Forbes like tax agenda, because that is the best way to raise government revenue. Bowles even makes the case that Democrats need to get real on spending cuts and that Republicans aren’t pushing hard enough. I am in awe.  Bowles has even says that unions have over reached. I am sure Bowles is feeling the heat from his former colleagues.  I never thought I would see myself typing these words; Erskine Bowles has earned my respect. My hat is off to his courage.

Bowles even uses the same analogy IUSB Vision does almost verbatim from the link. The deficit in February was $232 billion (yes that is for a single month), which is substantially higher than the entire yearly deficit the last year the Republicans had fiscal control (2007).

Related: Sen. Durbin Tells FOX News Sunday: Dems Will Only Cut $10.5 Billion From Bloated Budget – UPDATED!

Posted in 2012, Campus Freedom, Indoctrination & Censorship, Chuck Norton, Economics 101, Energy & Taxes | Leave a Comment »

Gallup says unemployment UP to 10.3% – Obama says unemployment down to 8.9% – Who to believe?

Posted by iusbvision on March 7, 2011

Well the presidential election season starts in two months.

UPDATE – Question answered. First time unemployment claims are up 26,000 to 397,000 – LINK.

UPDATE II – Dick Morris comes out with the same analysis, two weeks later :) LINK.

Bloomberg financial says that unemployment unexpectedly fell to 8.9% according to the Obama Administration – LINK.

Investors.com says that job openings are down 30% with gross is hiring down by 893,000 jobs – LINK.

So how can unemployment be 8.9%, especially in light of the information you are about to see. Combine this with skyrocketing gas & food prices and why would confidence be up? [Note – In talking among some educated friends one of them said “The Administration is trying to polish a turd.”]

Gallup:

Gallup Finds U.S. Unemployment Hitting 10.3% in February

Underemployment surged to 19.9% in February from 18.9% at the end of January

by Dennis Jacobe, Chief Economist

PRINCETON, NJ — Unemployment, as measured by Gallup without seasonal adjustment, hit 10.3% in February — up from 9.8% at the end of January. The U.S. unemployment rate is now essentially the same as the 10.4% at the end of February 2010.

The percentage of part-time workers who want full-time work worsened considerably in February, increasing to 9.6% of the workforce from 9.1% at the end of January. A larger percentage of the U.S. workforce is working part time and wanting full-time work now than was the case a year ago (9.3%).

Underemployment Surges in February

Underemployment, a measure that combines part-time workers wanting full-time work with those who are unemployed, surged in February to 19.9%. This resulted from the combination of a sharp 0.5-point increase since the end of January in the percentage unemployed and a 0.5-point increase in the percentage working part time but wanting full-time work. Underemployment is now higher than it was at this point a year ago (19.7%).

Jobs Situation Deteriorates in February

There is essentially no difference between the unemployment rate now and the one at this time a year ago; January’s rate, in contrast, showed a 1.1-percentage-point year-over-year improvement. This suggests that the real U.S. jobs situation worsened in February. That is, jobs are relatively less available now than in January.

In the broader underemployment picture, the situation is much the same. January’s year-over-year improvement of 1.0 points became -0.2 points in February. In turn, this suggests job market conditions in terms of underemployment also worsened during February.

This deterioration in the jobs situation combined with surging gas prices, budget battles at the federal and state level, and declines on Wall Street tend to explain the recent plunge Gallup recorded in consumer confidence. They also align with the continued “new normal” spending patterns of early 2011. Although Gallup’s Job Creation Index has improved over the past year and showed modest improvement in February, the improvement has not been significant enough to positively affect underemployment and unemployment.

Warren Buffet said Wednesday on CNBC that the U.S. unemployment rate should be in the low 7% range by late 2012. If that is going to be the case, the job creation environment must change dramatically from what it is today.

Gallup.com reports results from these indexes in daily, weekly, and monthly averages and in Gallup.com stories. Complete trend data are always available to view and export in the following charts:

Daily: Employment, Economic Confidence and Job Creation, Consumer Spending
Weekly: Employment, Economic Confidence, Job Creation, Consumer Spending

Read more about Gallup’s economic measures.

Posted in 2012, Chuck Norton, Economics 101 | Leave a Comment »

Greenspan: Bloated Government is hurting economy

Posted by iusbvision on March 7, 2011

Ya think?

Bloomberg:

Former Federal Reserve Chairman Alan Greenspan said a surge in U.S. government “activism,” including fiscal stimulus, housing subsidies and new regulations, is holding back the economic recovery.

Increased bond issuance by the Treasury Department crowds out borrowers with the weakest credit ratings, Greenspan said in an article in International Finance, published on the Web today. At least half of the shortfall in companies’ capital spending “can be explained by the shock of vastly greater government- created uncertainties embedded in the competitive, regulatory and financial environments” since the failure of Lehman Brothers Holdings Inc. (LEHMQ) in 2008, Greenspan said.

“Much intervention turns out to hobble markets rather than enhancing them,” said Greenspan.

 

 

Posted in Chuck Norton, Economics 101 | Leave a Comment »

Sen. Durbin Tells FOX News Sunday: Dems Will Only Cut $10.5 Billion From Bloated Budget – UPDATED!

Posted by iusbvision on March 6, 2011

It is obvious, the Democrat leadership wants a government shut down and are not serious about getting spending under control. This inspires a loss of confidence. UPDATE  March 29 – Democrat leaders caught on tape plotting government shut down, acting in bad faith – LINK.

UPDATE – Worlds largest bond fund dumps U.S. Treasuries – LINK. Loss of confidence inspires things like this folks.

The deficit in February was $232 billion (yes that is for a single month), which is substantially higher than the entire yearly deficit the last year the Republicans had fiscal control (2007). The Democrats plan to borrow 42 cents for every dollar they spend.

From a $3.7 TRILLION proposed budget, the Democrats are only willing to drop $10.5 billion from that outrageous number? That is less than 1/3 of 1%.

The Democrats proposal is like taking a $100 grocery bill and cutting it by 28 CENTS. The GOP spending cut proposal is so modest that it would only be cutting that same grocery bill by about $1.59. How can anyone say with a straight face that either of these cuts are draconian? The GAO just issued a report detailing that many agencies/programs in government have duplicate overlap and are a waste.

The Republicans already compromised with the Democrats by lowering the cuts from this outrageous deficit spending from $100 billion to $61 billion.

The Republicans compromised once, now the Democrats are rejecting the $61 billion compromise. This shows just how dishonest the Democrats were when they said that government has to start living within its means. Obama promised that he would offer a plan to reform entitlements, no such plan has been offered and his budget just continues trillion dollar yearly deficits for as long as the eye can see.

Does anyone doubt that the left is trying to spend us into oblivion? If you do doubt it, please post a logical explanation. The Democrats behavior is so outrageous they are proving Glenn Beck and David Horowitz right about the Cloward-Piven Strategy.

UPDATE – Sen. Mitch McConnell: Obama budget proposal – “unacceptable”, “indefensible”

UPDATE IIObama Debt Commission Chair’s Speak Out! To Increase Govt Revenue We Must : Lower the tax rates to 8, 14 and 23%.  Make a new slim and lean tax code. Lower the corporate tax rate.

Great interview. All credit to Erskine Bowles, who used to be one of the nastier partisan Democrat hired guns. He has almost completely adopted a near Steve Forbes like tax agenda, because that is the best way to raise government revenue. Bowles even makes the case that Democrats need to get real on spending cuts and that Republicans aren’t pushing hard enough. I am in awe.  Bowles has even says that unions have over reached. I am sure Bowles is feeling the heat from his former colleagues.  I never thought I would see myself typing these words; Erskine Bowles has earned my respect. My hat is off to his courage.

Posted in 2012, Chuck Norton, Click & Learn, Economics 101, Energy & Taxes, Obama and Congress Post Inaugration | 2 Comments »

Now Russia, along with Mexico, Spain, Cuba, and China are building oil wells just miles off our shores while Obama keeps Americans out. UPDATE – Steve Forbes: Obama repeating Carter’s mistakes.

Posted by iusbvision on March 6, 2011

Related:

Obama Administration Held in Contempt for Violating Court Order

API: Recent Studies Show Obama Drilling Moratorium Will Cost 50,000 Jobs; 160,000 by 2032.

Heritage: Anti-Drilling Policies Costing Federal Government Billions in Lost Revenue

Had enough yet?

Washington Times:

The Obama administration is poised to ban offshore oil drilling on the outer continental shelf until 2012 or beyond. Meanwhile, Russia is making a bold strategic leap to begin drilling for oil in the Gulf of Mexico. While the United States attempts to shift gears to alternative fuels to battle the purported evils of carbon emissions, Russia will erect oil derricks off the Cuban coast.

Offshore oil production makes economic sense. It creates jobs and helps fulfill America’s vast energy needs. It contributes to the gross domestic product and does not increase the trade deficit. Higher oil supply helps keep a lid on rising prices, and greater American production gives the United States more influence over the global market.

Drilling is also wildly popular with the public. A Pew Research Center poll from February showed 63 percent support for offshore drilling for oil and natural gas. Americans understand the fundamental points: The oil is there, and we need it. If we don’t drill it out, we have to buy it from other countries. Last year, the U.S. government even helped Brazil underwrite offshore drilling in the Tupi oil field near Rio de Janeiro. The current price of oil makes drilling economically feasible, so why not let the private sector go ahead and get our oil?

The Obama administration, however, views energy policy through green eyeshades. Every aspect of its approach to energy is subordinated to radical environmental concerns. This unprecedented lack of balance is placing offshore oil resources off-limits. The O Force would prefer the country shift its energy production to alternative sources, such as nuclear, solar and wind power. In theory, there’s nothing wrong with that, in the long run, assuming technology can catch up to demand. But we have not yet reached the green utopia, we won’t get there anytime soon, and America needs more oil now.

 

 

UPDATE Steve Forbes: Obama repeating Carter’s mistakes…

You need to watch only a few minutes of cable news analysis to realize just how ludicrous our national energy policies have become. As escalating tensions and chaos unfold in Egypt, Libya and other Middle Eastern nations, one energy analyst suggested that if Libyan oil supplies were to fail, the United States would rely on Saudi Arabia for its oil needs. If that statement alone doesn’t put U.S. leaders on red alert, the looming national energy crisis may soon become reality.

The Obama administration is repeating the mistakes of President Jimmy Carter’s failed energy policies, which marred his term and stigmatized the 1970s. They are leading us straight into another national energy disaster.

Key members of the Obama administration believe this friction abroad underscores the need to move away from oil and gas entirely and shift to boutique forms of alternative energy. Their lack of political will to drill for oil and gas compromises our national security and jeopardizes economic recovery.

It skirts the colossal elephant in the room: Oil and natural gas produced here in the United States are likely to still account for at least 57 percent of domestic energy consumption by 2035. Not to mention that energy production here can relieve the U.S. from the dangerous grip of foreign petro dictators.

Unfortunately, this administration’s Department of the Interior, with the most anti-oil-and-gas record in U.S. history, is sabotaging any real chance of avoiding the pending energy crisis because of its continued hold on deepwater drilling permits in the Gulf of Mexico.

When Interior Secretary Ken Salazar heads before the Senate Energy and Natural Resources Committee on Wednesday, Americans — particularly the 9.2 million directly or indirectly working in the oil and gas industry — would be ill served if the question isn’t asked: Are the thousands, and counting, of out-of-work Americans in the Gulf region and beyond a worthwhile consequence of your department’s freeze?

 

 

 

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Palin Truth Squad, Stuck on Stupid, True Talking Points | 1 Comment »

Sen. Rand Paul “We’re Spending About 10 Billion Dollars A Day & Borrowing About 4 Billion Of That!”

Posted by iusbvision on March 5, 2011

Posted in 2012, Chuck Norton, Click & Learn, Economics 101 | Leave a Comment »

Indianapolis School Board gives failed superintendent $1 million retirement.

Posted by iusbvision on March 4, 2011

$900.00 breakfasts and the list goes on….

 

Advance Indiana:

Indianapolis Graduation Rate Second Worst In The Nation

ONLY DETROIT’S GRADUATION RATE IS WORSE

Indianapolis officially scores the designation of having the second worst graduation rate among the nation’s 50 leading cities. “Seventeen of the nation’s 50 largest cities had high school graduation rates lower than 50 percent, with the lowest graduation rates reported in Detroit, Indianapolis and Cleveland, according to a report released Tuesday,” the AP’s Ken Thomas reports. Detroit finished last with a graduation rate of 24.9%. Indianapolis finished 49th with a 30.5% graduation rate, finishing just head of 48th-ranked Cleveland with a 34.1% graduation rate. Oh well, Mark Miles says our chances of winning the 2012 Super Bowl are real good. Why worry about a silly report like this?

 

Posted in Campus Freedom, Indoctrination & Censorship, Chuck Norton, Economics 101, Government Gone Wild, True Talking Points, Unions | Leave a Comment »

Government Union Collective Bargaining 101 – UPDATE O’Reilly: New York Times publishing bogus polls about unions and lying about the budget crisis

Posted by iusbvision on March 4, 2011

How government union collective bargaining works.

What FDR understood and what the left does not want you to figure out is that “The Man” is the taxpayer because with Democrats in charge government unions are essentially negotiating with themselves, it is not adversarial at all, and the politicians are not negotiating to preserve their own money, they are negotiating (wink wink, nod nod) with YOUR money.

More from the Heritage Foundation – HERE.

Rasmussen Poll: 71% Believe Government Workers Get Better Pensions Than Those In Private Sector – LINK.

NPR and PBS execs make more than the President! They are funded by taxpayers! – LINK.

UPDATE – New York Times publishing bogus polls about unions and lying about the budget crisis:

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Government Gone Wild, Is the cost of government high enough yet?, True Talking Points, Unions | Leave a Comment »

Bill Whittle: How the “Progressive Movement” became corrupt

Posted by iusbvision on March 4, 2011

A history lesson you may never forget.

Posted in 2012, Campus Freedom, Indoctrination & Censorship, Chuck Norton, Click & Learn, Culture War, Economics 101 | Leave a Comment »

GOA Report – Dozens of Govt. Agencies in Duplicate – Massive Waste.

Posted by iusbvision on March 2, 2011

52 programs funding entreprenurial efforts.

35 agencies for infrastructure.

26 agencies to fund telecommunications.

18 food assistance programs

47 job training programs

82 programs to improve teachers

…well you get the picture.

The Hill:

GAO report expected to show hundreds of duplicate programs

By Vicki Needham – 02/28/11 09:00 PM ET

The Government Accountability Office (GAO) found hundreds of possibly duplicate programs throughout the federal government’s agencies, according to a report scheduled for release on Tuesday.

The GAO, an independent, nonpartisan agency that works for Congress and investigates how the federal government spends taxpayer dollars, identified  programs across the agencies including Defense and Energy departments, the Wall Street Journal reported Monday night.

Congress and the White House have targeted many duplicate programs for elimination, including several that are included in the House Republicans’ two-week continuing resolution, also in President Obama’s fiscal 2012 budget, that cuts $4 billion in spending through March 18.

The Journal reported these duplications from the GAO study:

1. Food safety: 15 agencies that implement several federal laws.

2. Defense: Duplication in the purchasing of tactical wheeled vehicles, procurement and medical costs.

3. Economic development: 80 programs spread across several agencies that share goals.

4. Surface transportation: More than 100 programs run by five divisions within the Transportation Department.

5. Energy: Cutting ethanol production programs could save $5.7 billion each year.

6. Government information technology: 24 federal agencies handle IT.

7. Health: The Defense and Veterans Affairs departments are still working separately to update electronic health records.

8. Homelessness: There are more than 20 federal programs dealing with the issue.

9. Teachers: 82 programs and several agencies deal with teacher quality.

10. Job training: 44 employment and training programs.

Posted in 2012, Campus Freedom, Indoctrination & Censorship, Chuck Norton, Click & Learn, Economics 101, Is the cost of government high enough yet? | 1 Comment »

Democrats passed rules on federal government unions that are far more restrictive than what Wisconsin is proposing

Posted by iusbvision on February 27, 2011

Posted in 2012, Chuck Norton, Economics 101, Leftist Hate in Action, Unions | Leave a Comment »

Lee Doren: Why I changed from a leftist to a conservative after college.

Posted by iusbvision on February 27, 2011

Lee worked for a leftist environmental lobby. He realized that he was helping to prevent poor people in Africa and other places from getting inexpensive energy. As a result people had to burn what the could find to cook. The result was lung cancers, deaths, bad medical treatment and mass suffering. How would your grandmother live with no electricity or electric heat?

Watch the rest here.

Posted in Campus Freedom, Indoctrination & Censorship, Chuck Norton, Economics 101, True Talking Points | 3 Comments »

AFL-CIO Union Chief: The Best Way To Create Jobs is to Raise Taxes

Posted by iusbvision on February 26, 2011

This is from the same man who said that government should take over all private business, who speaks in front of communist revolutionary groups, and has a long history of violence. Trumka talks to the White House every day and visits twice a week – LINK.

Rich "Union Thug" Trumka

Yahoo News:

What’s the best way to get Americans back to work?

Raise taxes, according to AFL-CIO President Richard Trumka. Specifically, he wants to raise the federal gas tax as a means to fund infrastructure spending. “We need a dedicated source of revenue to create infrastructure in this country,” he tells Aaron Task in the accompanying clip.

“We need to create jobs. The best way to do that is through infrastructure development.” Simply maintaining the existing infrastructure in this country will cost $2.2 trillion over five years, according to the American Society of Civil Engineers. That doesn’t include Obama’s objective of high-speed rails and green energy projects.

 

Oh yes, we can tax ourselves into prosperity, and we can spend trillions on more stimulus packages most of the money goes to government unions to make this man even more wealthy. Sickening.

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Obama and Congress Post Inaugration | 1 Comment »

Dr. Sowell: The U.S. economy likely to decline in the long run. The private sector cannot prosper against the onslaught of government largess.

Posted by iusbvision on February 18, 2011

The video is of Dr. Thomas Sowell who is likely the greatest and most published economist alive. He is a free market guy so this is why you may not have heard of him. The use of Dr. Sowell’s materials is virtually banned at IUSB  so do not expect to see him in class. The left is very hostile to Dr. Sowell especially because he is a black free market economist.

Via The Daily Caller:

Dr. Sowell appeared on Wednesday night’s “The Kudlow Report,” on CNBC to promote his book, “Basic Economics: A Common Sense Guide to Economics.” Host Larry Kudlow asked Sowell about the current outlook and his long-term predictions for the economic system as a whole in the United States. The senior fellow at Stanford University’s Hoover Institution replied that politics plays into the answer.

I have never seen Dr. Sowell so concerned. As some of the good economists have said, this recession is different. Combine that with the fact that government has so effectively chased wealth out of the country and undermined economic confidence that unless we change government culture permanently and do it soon the United States may be done as an economic super power.

Posted in 2012, Chuck Norton, Corporatism, Economics 101, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | 1 Comment »

Progressivism Unrestrained: 9 of the top 10 jobless metro areas are in California.

Posted by iusbvision on February 17, 2011

As Governor Rick Perry of Texas has told us, 151 companies left California and moved to Texas in last year alone.

The recent census data shows us that people are voting with their feet. They are leaving progressive states and moving to “right to work” states.

Via Verum Serum:

Nine of the top 10 metro jobless rates in the nation are California, and seven are in California’s Central Valley:

  • El Centro, CA – 29.3% (east of San Diego near border with Mexico)
  • Yuma, AZ – 26.7%
  • Yuba City, CA – 17.8%
  • Merced, CA – 16.3%
  • Stockton, CA – 16.3%
  • Modesto, CA – 16.2%
  • Visalia-Porterville, CA – 15.9%
  • Fresno, CA – 15.7%
  • Palm Coast, FL – 15.5%
  • Hanford – Corcoran, CA – 15.0%

Hat Tip Hotair.com!

Posted in Chuck Norton, Economics 101, Energy & Taxes, Government Gone Wild | Leave a Comment »

Stimulus Bill Two Years Old – Happy Birthday

Posted by iusbvision on February 17, 2011

Posted in 2012, Chuck Norton, Economics 101, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | Leave a Comment »

Bill O’Reilly: President Obama And Spending Our Money – 02/14/11

Posted by iusbvision on February 16, 2011

Posted in 2012, Chuck Norton, Click & Learn, Economics 101, Energy & Taxes, Obama and Congress Post Inaugration | Leave a Comment »

Think Again: American Decline. This time it’s for real.

Posted by iusbvision on February 15, 2011

This article doesn’t have to come true folks, but it can.

Foreign Policy Mag:

“We’ve Heard All This About American Decline Before.”

This time it’s different. It’s certainly true that America has been through cycles of declinism in the past. Campaigning for the presidency in 1960, John F. Kennedy complained, “American strength relative to that of the Soviet Union has been slipping, and communism has been advancing steadily in every area of the world.” Ezra Vogel’s Japan as Number One was published in 1979, heralding a decade of steadily rising paranoia about Japanese manufacturing techniques and trade policies.

In the end, of course, the Soviet and Japanese threats to American supremacy proved chimerical. So Americans can be forgiven if they greet talk of a new challenge from China as just another case of the boy who cried wolf. But a frequently overlooked fact about that fable is that the boy was eventually proved right. The wolf did arrive — and China is the wolf.

The Chinese challenge to the United States is more serious for both economic and demographic reasons. The Soviet Union collapsed because its economic system was highly inefficient, a fatal flaw that was disguised for a long time because the USSR never attempted to compete on world markets. China, by contrast, has proved its economic prowess on the global stage. Its economy has been growing at 9 to 10 percent a year, on average, for roughly three decades. It is now the world’s leading exporter and its biggest manufacturer, and it is sitting on more than $2.5 trillion of foreign reserves. Chinese goods compete all over the world. This is no Soviet-style economic basket case.

Japan, of course, also experienced many years of rapid economic growth and is still an export powerhouse. But it was never a plausible candidate to be No. 1. The Japanese population is less than half that of the United States, which means that the average Japanese person would have to be more than twice as rich as the average American before Japan’s economy surpassed America’s. That was never going to happen. By contrast, China’s population is more than four times that of the United States. The famous projection by Goldman Sachs that China’s economy will be bigger than that of the United States by 2027 was made before the 2008 economic crash. At the current pace, China could be No. 1 well before then.

China’s economic prowess is already allowing Beijing to challenge American influence all over the world. The Chinese are the preferred partners of many African governments and the biggest trading partner of other emerging powers, such as Brazil and South Africa. China is also stepping in to buy the bonds of financially strapped members of the eurozone, such as Greece and Portugal.

And China is only the largest part of a bigger story about the rise of new economic and political players. America’s traditional allies in Europe — Britain, France, Italy, even Germany — are slipping down the economic ranks. New powers are on the rise: India, Brazil, Turkey. They each have their own foreign-policy preferences, which collectively constrain America’s ability to shape the world. Think of how India and Brazil sided with China at the global climate-change talks. Or the votes by Turkey and Brazil against America at the United Nations on sanctions against Iran. That is just a taste of things to come.

“China Will Implode Sooner or Later.”

Don’t count on it. It is certainly true that when Americans are worrying about national decline, they tend to overlook the weaknesses of their scariest-looking rival. The flaws in the Soviet and Japanese systems became obvious only in retrospect. Those who are confident that American hegemony will be extended long into the future point to the potential liabilities of the Chinese system. In a recent interview with the Times of London, former U.S. President George W. Bush suggested that China’s internal problems mean that its economy will be unlikely to rival America’s in the foreseeable future. “Do I still think America will remain the sole superpower?” he asked. “I do.”

But predictions of the imminent demise of the Chinese miracle have been a regular feature of Western analysis ever since it got rolling in the late 1970s. In 1989, the Communist Party seemed to be staggering after the Tiananmen Square massacre. In the 1990s, economy watchers regularly pointed to the parlous state of Chinese banks and state-owned enterprises. Yet the Chinese economy has kept growing, doubling in size roughly every seven years.

Of course, it would be absurd to pretend that China does not face major challenges. In the short term, there is plenty of evidence that a property bubble is building in big cities like Shanghai, and inflation is on the rise. Over the long term, China has alarming political and economic transitions to navigate. The Communist Party is unlikely to be able to maintain its monopoly on political power forever. And the country’s traditional dependence on exports and an undervalued currency are coming under increasing criticism from the United States and other international actors demanding a “rebalancing” of China’s export-driven economy. The country also faces major demographic and environmental challenges: The population is aging rapidly as a result of the one-child policy, and China is threatened by water shortages and pollution.

Yet even if you factor in considerable future economic and political turbulence, it would be a big mistake to assume that the Chinese challenge to U.S. power will simply disappear. Once countries get the hang of economic growth, it takes a great deal to throw them off course. The analogy to the rise of Germany from the mid-19th century onward is instructive. Germany went through two catastrophic military defeats, hyperinflation, the Great Depression, the collapse of democracy, and the destruction of its major cities and infrastructure by Allied bombs. And yet by the end of the 1950s, West Germany was once again one of the world’s leading economies, albeit shorn of its imperial ambitions.

In a nuclear age, China is unlikely to get sucked into a world war, so it will not face turbulence and disorder on remotely the scale Germany did in the 20th century. And whatever economic and political difficulties it does experience will not be enough to stop the country’s rise to great-power status. Sheer size and economic momentum mean that the Chinese juggernaut will keep rolling forward, no matter what obstacles lie in its path.

“America Still Leads Across the Board.”

For now. As things stand, America has the world’s largest economy, the world’s leading universities, and many of its biggest companies. The U.S. military is also incomparably more powerful than any rival. The United States spends almost as much on its military as the rest of the world put together. And let’s also add in America’s intangible assets. The country’s combination of entrepreneurial flair and technological prowess has allowed it to lead the technological revolution. Talented immigrants still flock to U.S. shores. And now that Barack Obama is in the White House, the country’s soft power has received a big boost. For all his troubles, polls show Obama is still the most charismatic leader in the world; Hu Jintao doesn’t even come close. America also boasts the global allure of its creative industries (Hollywood and all that), its values, the increasing universality of the English language, and the attractiveness of the American Dream.

All true — but all more vulnerable than you might think. American universities remain a formidable asset. But if the U.S. economy is not generating jobs, then those bright Asian graduate students who fill up the engineering and computer-science departments at Stanford University and MIT will return home in larger numbers. Fortune‘s latest ranking of the world’s largest companies has only two American firms in the top 10 — Walmart at No. 1 and ExxonMobil at No. 3. There are already three Chinese firms in the top 10: Sinopec, State Grid, and China National Petroleum. America’s appeal might also diminish if the country is no longer so closely associated with opportunity, prosperity, and success. And though many foreigners are deeply attracted to the American Dream, there is also a deep well of anti-American sentiment in the world that al Qaeda and others have skillfully exploited, Obama or no Obama.

As for the U.S. military, the lesson of the Iraq and Afghan wars is that America’s martial prowess is less useful than former Defense Secretary Donald Rumsfeld and others imagined. U.S. troops, planes, and missiles can overthrow a government on the other side of the world in weeks, but pacifying and stabilizing a conquered country is another matter. Years after apparent victory, America is still bogged down by an apparently endless insurgency in Afghanistan.

Not only are Americans losing their appetite for foreign adventures, but the U.S. military budget is clearly going to come under pressure in this new age of austerity. The present paralysis in Washington offers little hope that the United States will deal with its budgetary problems swiftly or efficiently. The U.S. government’s continuing reliance on foreign lending makes the country vulnerable, as Secretary of State Hillary Clinton’s humbling 2009 request to the Chinese to keep buying U.S. Treasury bills revealed. America is funding its military supremacy through deficit spending, meaning the war in Afghanistan is effectively being paid for with a Chinese credit card. Little wonder that Adm. Mike Mullen, chairman of the Joint Chiefs of Staff, has identified the burgeoning national debt as the single largest threat to U.S. national security.

Meanwhile, China’s spending on its military continues to grow rapidly. The country will soon announce the construction of its first aircraft carrier and is aiming to build five or six in total. Perhaps more seriously, China’s development of new missile and anti-satellite technology threatens the command of the sea and skies on which the United States bases its Pacific supremacy. In a nuclear age, the U.S. and Chinese militaries are unlikely to clash. A common Chinese view is that the United States will instead eventually find it can no longer afford its military position in the Pacific. U.S. allies in the region — Japan, South Korea, and increasingly India — may partner more with Washington to try to counter rising Chinese power. But if the United States has to scale back its presence in the Pacific for budgetary reasons, its allies will start to accommodate themselves to a rising China. Beijing’s influence will expand, and the Asia-Pacific region — the emerging center of the global economy — will become China’s backyard.

“Globalization Is Bending the World the Way of the West.”

Not really. One reason why the United States was relaxed about China’s rise in the years after the end of the Cold War was the deeply ingrained belief that globalization was spreading Western values. Some even thought that globalization and Americanization were virtually synonymous.

Pundit Fareed Zakaria was prescient when he wrote that the “rise of the rest” (i.e., non-American powers) would be one of the major features of a “post-American world.” But even Zakaria argued that this trend was essentially beneficial to the United States: “The power shift … is good for America, if approached properly. The world is going America’s way. Countries are becoming more open, market-friendly, and democratic.”

Both George W. Bush and Bill Clinton took a similar view that globalization and free trade would serve as a vehicle for the export of American values. In 1999, two years before China’s accession to the World Trade Organization, Bush argued, “Economic freedom creates habits of liberty. And habits of liberty create expectations of democracy.… Trade freely with China, and time is on our side.”

There were two important misunderstandings buried in this theorizing. The first was that economic growth would inevitably — and fairly swiftly — lead to democratization. The second was that new democracies would inevitably be more friendly and helpful toward the United States. Neither assumption is working out.

In 1989, after the Tiananmen Square massacre, few Western analysts would have believed that 20 years later China would still be a one-party state — and that its economy would also still be growing at phenomenal rates. The common (and comforting) Western assumption was that China would have to choose between political liberalization and economic failure. Surely a tightly controlled one-party state could not succeed in the era of cell phones and the World Wide Web? As Clinton put it during a visit to China in 1998, “In this global information age, when economic success is built on ideas, personal freedom is … essential to the greatness of any modern nation.”

In fact, China managed to combine censorship and one-party rule with continuing economic success over the following decade. The confrontation between the Chinese government and Google in 2010 was instructive. Google, that icon of the digital era, threatened to withdraw from China in protest at censorship, but it eventually backed down in return for token concessions. It is now entirely conceivable that when China becomes the world’s largest economy — let us say in 2027 — it will still be a one-party state run by the Communist Party.

And even if China does democratize, there is absolutely no guarantee that this will make life easier for the United States, let alone prolong America’s global hegemony. The idea that democracies are liable to agree on the big global issues is now being undermined on a regular basis. India does not agree with the United States on climate change or the Doha round of trade talks. Brazil does not agree with the United States on how to handle Venezuela or Iran. A more democratic Turkey is today also a more Islamist Turkey, which is now refusing to take the American line on either Israel or Iran. In a similar vein, a more democratic China might also be a more prickly China, if the popularity of nationalist books and Internet sites in the Middle Kingdom is any guide.

“Globalization Is Not a Zero-Sum Game.”

Don’t be too sure. Successive U.S. presidents, from the first Bush to Obama, have explicitly welcomed China’s rise. Just before his first visit to China, Obama summarized the traditional approach when he said, “Power does not need to be a zero-sum game, and nations need not fear the success of another.… We welcome China’s efforts to play a greater role on the world stage.”

But whatever they say in formal speeches, America’s leaders are clearly beginning to have their doubts, and rightly so. It is a central tenet of modern economics that trade is mutually beneficial for both partners, a win-win rather than a zero-sum. But that implies the rules of the game aren’t rigged. Speaking before the 2010 World Economic Forum, Larry Summers, then Obama’s chief economic advisor, remarked pointedly that the normal rules about the mutual benefits of trade do not necessarily apply when one trading partner is practicing mercantilist or protectionist policies. The U.S. government clearly thinks that China’s undervaluation of its currency is a form of protectionism that has led to global economic imbalances and job losses in the United States. Leading economists, such as New York Times columnist Paul Krugman and the Peterson Institute’s C. Fred Bergsten, have taken a similar line, arguing that tariffs or other retaliatory measures would be a legitimate response. So much for the win-win world.

And when it comes to the broader geopolitical picture, the world of the future looks even more like a zero-sum game, despite the gauzy rhetoric of globalization that comforted the last generation of American politicians. For the United States has been acting as if the mutual interests created by globalization have repealed one of the oldest laws of international politics: the notion that rising players eventually clash with established powers.

In fact, rivalry between a rising China and a weakened America is now apparent across a whole range of issues, from territorial disputes in Asia to human rights. It is mercifully unlikely that the United States and China would ever actually go to war, but that is because both sides have nuclear weapons, not because globalization has magically dissolved their differences.

At the G-20 summit in November, the U.S. drive to deal with “global economic imbalances” was essentially thwarted by China’s obdurate refusal to change its currency policy. The 2009 climate-change talks in Copenhagen ended in disarray after another U.S.-China standoff. Growing Chinese economic and military clout clearly poses a long-term threat to American hegemony in the Pacific. The Chinese reluctantly agreed to a new package of U.N. sanctions on Iran, but the cost of securing Chinese agreement was a weak deal that is unlikely to derail the Iranian nuclear program. Both sides have taken part in the talks with North Korea, but a barely submerged rivalry prevents truly effective Sino-American cooperation. China does not like Kim Jong Il’s regime, but it is also very wary of a reunified Korea on its borders, particularly if the new Korea still played host to U.S. troops. China is also competing fiercely for access to resources, in particular oil, which is driving up global prices.

American leaders are right to reject zero-sum logic in public. To do anything else would needlessly antagonize the Chinese. But that shouldn’t obscure this unavoidable fact: As economic and political power moves from West to East, new international rivalries are inevitably emerging.

The United States still has formidable strengths. Its economy will eventually recover. Its military has a global presence and a technological edge that no other country can yet match. But America will never again experience the global dominance it enjoyed in the 17 years between the Soviet Union’s collapse in 1991 and the financial crisis of 2008. Those days are over.

Posted in 2012, China, Chuck Norton, Culture War, Economics 101, True Talking Points | Leave a Comment »

Obama Budget Cuts Proposal Visualization

Posted by iusbvision on February 8, 2011

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Obama and Congress Post Inaugration | Leave a Comment »

James Madison: Class envy politics leads to chaos and violence

Posted by iusbvision on January 24, 2011

 

James Madison is known as the Father of the Constitution. The left is saying that repeal of ObamaCare in unconstitutional, which is of course laughable to thinking people, but just in a little help is in order here is Federalist #10:

A zeal for different opinions concerning religion, concerning government, and many other points, as well of speculation as of practice; an attachment to different leaders ambitiously contending for pre-eminence and power; or to persons of other descriptions whose fortunes have been interesting to the human passions, have, in turn, divided mankind into parties, inflamed them with mutual animosity, and rendered them much more disposed to vex and oppress each other than to co-operate for their common good. So strong is this propensity of mankind to fall into mutual animosities, that where no substantial occasion presents itself, the most frivolous and fanciful distinctions have been sufficient to kindle their unfriendly passions and excite their most violent conflicts. But the most common and durable source of factions has been the various and unequal distribution of property.

Posted in Chuck Norton, Culture War, Economics 101, Health Law | Leave a Comment »

Analysis: Herman Cain vs. Bill Clinton on HillaryCare

Posted by iusbvision on January 19, 2011

Notice how Clinton says that it will work because it means that everyone in the business will have to raise their prices the same so it all works out; no it doesn’t. Clinton is engaging in a false assumption that destroys smaller competition and benefits the biggest players in a market.

Cain is explaining that “big pizza” has a higher base percentage of profit, based on both volume and on economies of scale, that gives them lower costs and higher aggregate profitability compared to smaller competitors. While Godfathers has a profitability of 1.5%, “big pizza” has a profitability that is likely close to 6%.

So what does this mean? If Clinton gets his way “big pizza” will not raise their prices at all, on the contrary they will have a sale and keep that sale on till smaller outfits like GodFathers who are forced to raise prices and reduce service via layoffs can’t compete and shut down. At first the barely profitable stores close, then the better ones. The result is more and more markets where “big pizza” progresses its virtual monopoly in each market. With that competition taken out of the picture “big pizza” can charge whatever it likes and prices go up, and the pressure to keep quality up starts to evaporate.

This is why companies like Philip Morris lobbied Democrats to have tobacco taxes and regulations increased.

This brings us to Norton’s First Law:

Big business loves big government, which is why big business loves domestic taxes and regulation because it keeps the small and medium-sized competition out of the competition. It also causes inflation, so ultimately it is you who pays and the poor who are hardest hit. (Big business often gets loopholes written in the laws for themselves such as Nancy Pelosi trying to get a part of the tuna industry exempted from the minimum wage law).

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Health Law, Is the cost of government high enough yet? | Leave a Comment »

Baltimore Passes Soda Tax, Pepsi Closes Plant in Baltimore.

Posted by iusbvision on January 17, 2011

Baltimore Sun:

The Pepsi plant in Baltimore will no longer make soda, and the company plans to lay off 77 people as officials have decided to stop manufacturing operations — a decision they blame in part on a controversial new beverage tax in the city.

The last cans and 2-liter bottles of Pepsi-Cola, Diet Pepsi, Mountain Dew and other sodas ran through the production line Monday morning. Executives at Pepsi Beverages Co. told workers in meetings later in the day that production would be halted for good. Pepsi officials said they would work out details regarding the layoffs, including potential severance, with the local Teamsters union.

Kristine Hinck, a company spokeswoman, said, “Given the climate, making a beverage in a city where there is a beverage tax certainly doesn’t help.” – Ya think?

You would have thought that Maryland would have learned its lesson after the state lost massive revenue after it imposed its now infamous “millionaire’s tax”.

I am going to go buy a case of Diet Pepsi today.

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes | Leave a Comment »

F. A. Hayek – How Unions Cause Unemployment

Posted by iusbvision on January 12, 2011

Indeed when the price of labor is artificially increased beyond the value of that labor several things happen:

1 – Since there is only so much of the percentage available from variable costs for labor therefore union over reach causes there to be less employees.

Think about it. How often do you stand in line at Kroger when they obviously have a shortage of cashiers? So the result is not management vs. employee, it becomes employee vs. employee; which employee will get whacked because there is only so much available for labor?

2 – At first this causes companies to be more efficient, but eventually that efficiency comes at the cost of labor. For example: have you noticed that self checkout machines came first at union grocery stores?  The stores will increase technology to eliminate positions.

Ford Motor Company has a new high tech plant that can make five cars on a single production line. Since union rules do not allow workers to use that technology and make so many different lies Ford has made these new plants in Canada, Mexico and Brazil.

3 – When is the last time you went to a gas station and got service by a young apprentice? Why do you think that is?

 

Posted in Campus Freedom, Indoctrination & Censorship, Chuck Norton, Economics 101 | Leave a Comment »

Presidential Candidate Herman Cain: On economics, how to educate America on economics, how to turn the economy around

Posted by iusbvision on January 6, 2011

Herman Cain is well known in the private sector as a genius. He sat on a district board of the Federal Reserve, he was one of the great “fixing” CEO’s, meaning that he would come in, take charge of a company and make it successful and move on to the next one. He is an expert on leadership and tax policy as well.

Cain is an out of the box thinker, but throughout his life he has always gotten results.

 

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Obama and Congress Post Inaugration | Leave a Comment »