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It’s Morning in America Again

It’s easy to be negative about the U.S. economy these days. Find a glint of silver, and folks come running to point out all of the dark clouds looming about. This, of course, is what we got last week when the monthly jobs report was released from the U.S. Department of Labor (DOL). Folks pooh-poohed the number of jobs and whining that they’re not enough or that it’s less than a bunch of economists thought that it might be. But you know what? Stuff ’em.

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Safeway, Uber, and the Economic Lessons of Winter Blizzards

The east coast and parts of the southern U.S. were to varying degrees paralyzed by blizzards a few weeks ago. The snow as expected rendered the roads treacherous, and in anticipation of slick streets, shoppers flocked to the grocery stores in advance. The rush into grocery stores, and its aftermath, offers worthwhile lessons in economics. …

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Economic Doom on Ice

The financial world is plodding along like a drunken sailor avoiding debt collectors by keeping no cash in his wallet. It’s not the kind of calm that’s going to last or end well. But the storm will have to wait until after the Olympics. What a game! We’ve never watched ice hockey closely before. But …

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The Way We Help People Does Not Help People

The highest form of charity, argued the 12th-century Jewish philosopher Maimonides, is when the help given enables the receiver to become self-sufficient. But our systems of state charity — aka welfare — have too frequently had the opposite effect: They have actually created dependency. It is time to rethink the way we help people. I’m …

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Mass Surveillance Proves Pointless

In times of war and national emergency, it’s sometimes necessary to sacrifice civil liberties to secure vital gains in public safety. In those cases, we may have to accept a loss of privacy or freedom rather than invite mass slaughter of Americans. The National Security Agency’s domestic phone records collection is not one of those. …

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The Housing Crisis That Refuses to Heal

President Obama crowed in his State of the Union speech about the economy, even mentioning “a rebounding housing market.” Maybe he was referring to friends in high places, like the seller of Penthouse One in New York, which just closed for $50.9 million, all cash. Millions of mere-mortal homeowners likely wanted to throw something at …

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$205 Trillion in Unfunded Liabilities

The nonpartisan Congressional Budget Office is acting in a bipartisan way to cover up the biggest single threat to the bipartisan political alliance that is stripping America of its wealth: the United States Congress. There is no question that the following policy is bipartisan. Democrats and Republicans in Congress are completely agreed that the following …

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Tragedy of the Health Care Commons

Recent difficulties with implementing the Affordable Care Act have increased opposition to the program. A majority of Americans now oppose it. Problems with the HealthCare.gov website are in all likelihood temporary. However, there are serious long-term problems, particularly considering long-term finance and labor supply issues. Given the mounting difficulties with and growing concerns about the …

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Don’t Forget Financial Privacy

Amidst all the revelations about how the American people, many of whom are absolutely convinced they live in a free society, have their telephone calls, emails, website visits, and who knows what else under surveillance by their own government, let’s not forget the massive infringements on financial privacy that have gone on for decades. Consider, …

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Why Are Bitcoiners Going to Jail for Money Laundering While Big Banks Walk?

Image: Shutterstock BitInstant CEO Charlie Shrem, along with alleged co-conspirator Robert Faiella, was arrested by federal authorities last week for allegedly laundering more than $1 million worth of Bitcoins. This is a tiny amount compared to the largest drug-and-terrorism money laundering case ever. Yet when British bank HSBC was found guilty in 2012 of laundering …

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How Obamacare Creates Ethical Conflicts for Physicians

Do you trust your doctor? Most patients assume their doctor is working in their best medical interests whenever he or she orders a diagnostic test or recommends a particular treatment. Customers might wonder whether an unscrupulous auto mechanic is being truthful when he recommends a brake job or a new transmission. But most patients trust …

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The New American Elite

The faces of the Detroit bankruptcy are the thousands of pensioners whose promised benefits are suddenly part of the restructure negotiation. When Motown filed for Chapter 9 last July, the city had $11.5 billion in unsecured liabilities. The vast majority of this was pension and health care benefits owed to retired city employees. The images …

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Obamacare: A Welcome Mat for IRS Horrors

So you’ve maneuvered the Obamacare website, plugged in your top-secret information and found out how much you are forced to pay to avoid a fine. And for some of you, it turns out you qualify for a government subsidy — making the premium sound like a bargain. But signing on that line to accept the …

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How Many Fish?

“Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.” As the inequality gap grows, there is an ideological battle unfolding in the West. On the one hand, there are those who think government can fix things. It must do more, …

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Cheap Wine and Expensive Health Care

The New York Times published an interminable article on health care recently. Plenty of facts — how scrupulous are these journalists! — but the article displayed absolutely no comprehension of the basics of cause and effect. I was left wondering about the whole point. The article details how the health care system rewards specialists to …

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The Largest Company in History

The Largest Company in History: “The United States Corporation of Government (USCOG)” I follow global social and commercial networks, looking for entrepreneurial opportunities. Innovation surges when industry and government models change. Buggy whips. Landline phones. Railroads. The Soviet Union. Apartheid South Africa. All marked social and commercial innovation, both bad and good. We are witnessing …