8 Steps For Revitalizing The U.S. Economy

Industry Week  has a piece in their online edition by Dr. Ken Mayland, an economist who covers manufacturing and business trends. 
Here are Dr. Mayland's "Eight Steps For Revitalizing The U.S. Economy".  I've been ranting about seven of these for years, and I don't even have a Doctorate in Economics.  Or a Masters.  Or a Bachelors.  I do, however, work in the shipping and logistics industry, and that qualifies me to comment on these things. 

1.  Kill the 2010 health care reform bill.

Well, duh, of course.  Nobody knows who exactly wrote it.  Nobody knows what it is supposed to accomplish.  It's too long for anyone to know what is in it.  A lot of people who lobbied for it have now been exempted from it.  But everyone fears it. 

2.  Do a "reverse course" on developing domestic energy and ease access and permitting for all forms of energy production.

Yeah.  Drill, Baby, Drill.  The Green Energy Scam is slowly being exposed.  Within a year and a half, it'll be dead as a doornail.  Drill, Baby, Drill.  Now.   

3.  Eliminate the minimum wage. Mayland said: "Economists have long know that politicians cannot legislate the productivity of a worker. If you raise the minimum wage above the basic productivity of the worker, the worker will be fired or not hired." Mayland said since the minimum wage was last raised, the biggest increase in unemployment has been among teenagers -- "exactly where you would expect a minimum-wage increase to hurt."

The minimum wage is zero.  The higher you set an artificial price floor for unskilled workers, the more of them you condemn to earning the true minimum wage - zero. 

4.  Repeal the Frank-Dodd financial reform law and Sarbanes-Oxley, which he said put U.S. businesses at a disadvantage compared to businesses in other countries.

I know absolutely nothing about this.  Some might say that this shortcoming has never prevented any of my other rants, but there you have it.  I know nothing about SarbOx.  But this guy does. 

5.  Rein in EPA and the National Labor Relations Board.

Or we could continue to allow the NLRB to tell businesses where they can and can't operate.  Pick one. 

6.  Pass free-trade agreements with Panama, Columbia and South Korea.

This is great as long as it is Free Trade and not Managed Trade.  Any Free Trade Agreement that's 900 pages long is automatically suspect. 

7.  Pare back overly generous unemployment benefits from the current 99 weeks. Mayland cited a scholarly study that if unemployment benefits were 26 weeks, the unemployment rate would be 2% to 2.5% lower.

Yep, and it wouldn't be pretty.  But combine #3 and #7, and you would rapidly approach full employment.  Companies would accomplish more with less.  But it wouldn't be fair !  So we're going to continue to borrow from our fetuses ! 

8.  Trash the tax code and install a flat tax. Mayland said once the appropriate tax rate was determined, taxpayers could fill out their tax return "on a postcard."

Go here for a picture of the Hong Kong tax postcard. 

There you have it.  If Obama and Congress knew that they were going to be propped against a wall and shot if the economy didn't improve within one year, they would implement all of Ken Mayland's Libertarian-ish suggestions tomorrow morning.  Hit the labels below if you want to read earlier rants on any of these topics.

Why Didn't They Attack Switzerland?

A common-sense answer to an unusual question, from the Strike The Root website:

Switzerland has not been in a war of any kind since 1815. It has not been in an official foreign war since 1515. This would be astounding, even miraculous, for any nation. But Switzerland borders Germany . And France . And Italy . And Austria . And Liechtenstein . Now the Prince of Liechtenstein has rarely lashed out in Blitzkrieg in a desperate bid to reign uber alles, but ALL of Switzerland 's other neighbors have devoted a lot of effort to invading other countries.

In addition to the encircling foreign marauders, Switzerland itself is composed of several different ethnic groups that get along as well as, e.g., Germans and French. But they haven't ethnically cleansed each other for two centuries, either.

You would think that peacekeeping performance of this kind would make Switzerland an object of study in every political science and civics course worldwide. "WHY Didn't They Attack Switzerland ?" should be the title of many a textbook. This is not the case. Very few political scientists study Switzerland .

Switzerland is of no interest to politicians, because the features of the Swiss system that keep the peace are the same features that make Swiss politicians unimportant. Do you know the name of the Swiss President now serving out his nonrenewable one-year term? No, you do not (it's Samuel Schmid, but you won't remember tomorrow). His name doesn't matter, and he doesn't matter to the defense of Switzerland . There is no central location of Swiss defense, no Pentagon or NORAD into which you can crash a 757 or a black-market Kazakh nuclear weapon. The defense of Switzerland is the entire people of Switzerland itself.

The features of the Swiss system for keeping the peace are simple. They mind their own business, and they have very strict gun control. By which they mean that every Swiss male must have a gun, except for those who have to carry a mortar or missile launcher. Females are not subject to universal military training, but if you go to a Swiss rifle range, there are always girls blasting away too. After 9-11, teh Swiss carried on as usual, somewhat different from the US response of panicked victim-disarmament. (You are aware that 99% of US pilots are STILL disarmed?)

Hit the link up top to read the whole thing. 
This pic is from Hammer Of Truth:

What if the Federal government was your household?

U.S. Tax revenue: $2,170,000,000,000

• Fed budget: $3,820,000,000,000

• New debt: $ 1,650,000,000,000

• National debt: $14,271,000,000,000

• Recent budget cut: $ 38,500,000,000

Let's remove 8 zeros and pretend it's a household budget:

Annual family income: $21,700

• Money the family spent: $38,200

• New debt on the credit card: $16,500

• Outstanding balance on the credit card: $142,710

• Total budget cuts: $385
 
There you have it.  All the rest is noise.  Eventually, somebody is going to have to pay for this mess, and it's going to be business owners.
Ok, but don't we need roads, police, defense, and a courts system? 
Yeah, but that's about it. Instead, we've got..... 

Legislative branch
Agencies within the legislative branch:

Architect of the Capitol
Government Accountability Office
Government Printing Office
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Library of Congress
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United States Botanic Garden
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Judicial branch United States federal courts
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Agencies within the Department of Education:

Federal Student Aid
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Office for Civil Rights
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Office of Safe and Drug Free Schools
Office of Special Education and Rehabilitative Services
Office of Vocational and Adult Education

List of agencies within the Department of Energy:

Energy Information Administration
Federal Energy Regulatory Commission
National Laboratories & Technology Centers
National Nuclear Security Administration
Power Marketing Administrations:
Bonneville Power Administration
Southeastern Power Administration
Southwestern Power Administration
Western Area Power Administration

Agencies within the Department of Health and Human Services:

Administration on Aging
Administration for Children and Families
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Agency for Healthcare Research and Quality
Centers for Disease Control and Prevention
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National Center for Health Statistics
Centers for Medicare and Medicaid Services
Food and Drug Administration
Health Resources and Services Administration
Indian Health Service
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Federal Emergency Management Agency
World Trade Center Captive Insurance Company
Federal Law Enforcement Training Center
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International Ice Patrol
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Domestic Nuclear Detection Office
Office of Health Affairs
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Office of Intelligence and Analysis
Office of Operations Coordination
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Office of Immigration Statistics
Office of Policy Development
Office for State and Local Law Enforcement
Office of Strategic Plans
Private Sector Office

Directorate for Management
National Protection and ProgramsNational Protection and Programs Directorate
Federal Protective Service
Office of Cybersecurity and Communications
National Communications System
National Cyber Security Division
United States Computer Emergency Readiness Team
Office of Emergency Communications
Office of Infrastructure Protection
Office of Risk Management and Analysis
United States Visitor and Immigrant Status Indicator Technology (US-VISIT)
Science and TechnologyScience and Technology Directorate
Environmental Measurements Laboratory
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Office of Research
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Program Executive Office, Counter Improvised Explosive Device
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Agencies and BureausBureau of International Labor Affairs
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United States Department of State
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Reporting to the Under Secretary for Political Affairs
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United States Department of Transportation
AgenciesBureau of Transportation Statistics
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United States Department of the Treasury
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United States Department of Veterans Affairs
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Overseas Private Investment Corporation
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Peace Corps
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Selective Service System
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Tennessee Valley Authority
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Universal Service Administrative Company
Pending Government CorporationCorporation for Travel Promotion

Boards and commissionsAdministrative Committee of the Federal Register
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Appalachian Regional Commission
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Broadcasting Board of Governors
Chemical Safety and Hazard Investigation Board
Chief Acquisition Officers Council
Chief Financial Officers Council
Chief Human Capital Officers Council
Chief Information Officers Council
Citizens' Stamp Advisory Committee
Commission of Fine Arts
Commission on International Religious Freedom
Commission on Security and Cooperation in Europe (United States Helsinki Commission)
Commission on Wartime Contracting (Will sunset sixty days after issuing final report)
Committee for Purchase from People Who Are Blind or Severely Disabled
Committee for the Implementation of Textile Agreements
Committee on Foreign Investment in the United States
Coordinating Council on Juvenile Justice and Delinquency Prevention
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Millennium Challenge Corporation
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Morris K. Udall Foundation
National Bipartisan Commission on the Future of Medicare
National Indian Gaming Commission
National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling
National Park Foundation
Northwest Power and Conservation Council (Northwest Power Planning Council)
Nuclear Regulatory Commission
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Presidential Commission for the Study of Bioethical Issues
President's Council on Physical Fitness and Sports
Presidents Management Council
Presidio Trust
Privacy and Civil Liberties Oversight Board
Regulatory Service Center (Office of Information and Regulatory Affairs)
Social Security Advisory Board
Susquehanna River Basin Commission
Taxpayer Advocacy Panel
United States Holocaust Memorial Museum
Veterans Day National Committee
Vietnam Educational Foundation
White House Commission on Presidential Scholars (Presidential Scholars Program)
White House Commission on the National Moment of Remembrance
Quasi-Official AgenciesLegal Services Corporation
Smithsonian Institution
John F. Kennedy Center for the Performing Arts
National Symphony Orchestra
State Justice Institute
United States Institute of Peace
Private Regulatory CorporationPublic Company Accounting Oversight Board
Internet Corporation for Assigned Names and Numbers
Self-Regulatory BoardsAmerican Medical Association
American Bar Association
CME Group
Financial Industry Regulatory Authority
Municipal Securities Rulemaking Board
NASDAQ
National Futures Association
North American Electric Reliability Corporation
[edit] Government EnterprisesFederal Agricultural Mortgage Corporation (Farmer Mac)
Federal Home Loan Mortgage Corporation (Freddie Mac)
Federal National Mortgage Association (Fannie Mae)
NeighborHood Reinvestment Corporation (NeighborWorks America)
Student Loan Marketing Association (Sallie Mae)

The Ron Paul warning on 9-11

We have ignored Ron Paul on the national debt, we've ignored him on inflation, we ignored him on the Federal Reserve. 
We ignored him on the actions that would likely lead to a terrorist attack. 

So.... Do you feel lucky?  Is there anyone else on the political landscape whose warnings and policies have been so totally validated and vindicated for the last 20 years? 

Why Rick Perry is wrong - Social Security is not a Ponzi Scheme

For years, I've mistakenly thought of Social Security as a Ponzi Scheme.  I was wrong.   
What's a Ponzi Scheme, you ask? 

Here's the U.S. Securities And Exchange Commission's answer:

A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors.

During the recent Republican debate, Texas Governor Rick Perry made a stir by declaring that Social Security was a Ponzi scheme.  Lamestream Media outrage immediately blanketed the earth.  Animal shelters were working overtime because of the MSNBC Talking Heads having multiple litters of kittens all over their desks.  If I remember correctly, Rachel Maddow and Chris Matthews stood and ceremonially tore their garments and dipped their foreheads in hot vats of black ashes.  (I've got it Tivo'd at home, and will correct the names if necessary.)  Mitt Romney, in a white heat to look like the responsible adult in the room, rushed to the program's defense.  New York Timesians have gathered to reconcile their faith with the inconvenient evidence of Ponzi-ism. 

I laughed and laughed.  I shouldn't have. 

According to Reason magazine, my current source of infallible doctrine, Social Security isn't a Ponzi scheme.  Here's why:

1)  Ponzi schemes take money from new suckers and use it to pay older suckers.  Social Security collects money from new victims, uses some of it to pay previous victims, and spends the rest on stimulus packages, Cash For Clunkers, TARP, wars, prisons, slop, slush, and kickbacks to supporters and government drones.  Trillions of dollars from the Social Security Lockbox have been looted in this manner. 

2) Ponzi schemes attract their money through fraud and lies.  Social Security funds are collected at gunpoint.  If you disagree with that statement, try not paying for Social Security. 

3) When Ponzi schemes run out of suckers, they collapse.  When Social Security starts running low on suckers?  The men with guns simply raise your rates.  Here's the Cato Institute:

In fact, Social Security taxes have been raised some 40 times since the program began. The initial Social Security tax was 2 percent (split between the employer and employee), capped at $3,000 of earnings. That made for a maximum tax of $60. Today, the tax is 12.4 percent, capped at $106,800, for a maximum tax of $13,234. Even adjusting for inflation, that represents more than an 800 percent increase.

In 1950, every retiree had sixteen Social Security victims working to support him.  We now have only three suckers working to support every retired sucker.  In 2030, it'll be only two suckerw working to support every retired sucker.  Look for the men with guns to increase your rates. 

So.... according to Reason magazine, Social Security is not a Ponzi scheme (in the Bernie Madoff sense of the word). 

It is something much, much worse. 

I regret my previous error. 

The vintage poster came from here. 

A reaction to the Jobs Speech

I didn't get to listen to Obama read his Jobs Speech.  I've read most of the transcript. 

Libertarians generally believe that the purpose of the Democrat and Republican parties is to ladle massive amounts of pork to their supporters. 

They've done it for so long that our debt level is killing the economy.  Entrepreneurs are worried about starting anything new, not in this climate of debt and inevitably higher taxes.  Nobody from anywhere else on the planet is very interested in starting a business here. 

The purpose of the Democrat and Republican parties is to ladle massive amounts of pork to their supporters.  They'll always find a good reason to do so. 

Judged by that standard, Barack Obama, because of Porkulus, Cash For Clunkers, multiple wars, spending levels that make Imelda Marcos look like a medieval hermit, and this latest appeal for more slop to be dumped into the communal troughs, I'm preparted to say that....

BARACK OBAMA IS THE GREATEST PRESIDENT EVER. 

We will never see another one like him, and we should enjoy this while it lasts.  We are like beginning musicians getting to watch Beethoven compose symphonies, or amateur artists watching Van Gogh paint.  Because you are lucky enough to be alive at this moment, you can tell your grandchildren that you got to watch Barack Obama hand out money. 

A reminder for all Human Resource and Personnel Managers

Are you prepared to hire millions of people tomorrow?  Barack Obama's Jobs Speech will be read live from the teleprompter tonight, and millions of new workers are going to be required at your companies to meet the pent-up customer demand for your goods and services following this essay by a community organizer. 

Or it could be that consumers are going to be scared shitless again by the prospect of having to come up with, say, another 300 billion dollars to finance these boondoggles.  In that case, never mind. 

 The "Are You Ready" poster came from here. 

LateBlogging the Republican Debate. September 7, 2011 - total failure at pretending to be interested

If it weren't for Ron Paul, I wouldn't be doing this. 
I usually liveblog interesting debates.  This one won't be interesting.  I didn't even get home in time to liveblog the thing.  Thank you, Tivo. 

Ok, here we go. 

Mitt Romney and Rick Perry just finished a little argument over who created the most jobs as governor.  Perry claims that Michael Freakin' Dukakis created more jobs as Massachusetts governor than Romney did.  Romney claims that George W. Bush created more jobs as Texas governor than Perry did. 

Who gives a rip?  You know who isn't here at this debate?  Former New Mexico governor Gary Johnson.  He's wasn't invited to this thing because he's a libertarian-ish sort.  Johnson claims (truthfully) that he didn't create a single job as New Mexico governor.  He just got the government out of the way and let the private sector take care of it.  Can you imagine anyone at MSNBC letting that cat out of the bag to run around on this stage, making a mockery of the proceedings? 

The MSNBC moderators (and the rest of the lamestream media) ought to show how many government employees were on the payroll before and after the Romney and Perry administrations.  That's what matters. 

Michele Bachmann just ripped ObamaCare a new one. 

Brian Williams just asked Ron Paul how the world would survive without government regulations.  Ron Paul just gave a somewhat rambling answer, but got to the point.... we don't need the government to do it.  "But who would keep the airplanes from dropping out of the sky?"  Paul shoulda said "follow the Canadian model and privatize it.  Canadian Air Traffic Controllers don't fall asleep on the job."  But he just said, essentially, let the Free Market handle it. 

Why is there an airplane hanging over the audience? 

MSNBC, like most left-wing organizations, is having a hard time making things work properly.  They can't coordinate their video clips with the debate moderators' questions. 

The debate moderators are trying to hang the Massachusetts RomneyCare model on Mitt Romney (where it belongs).  Romney is dodging the question, and talking about what he would do in the future. 

These people are talking about jobs as if they're the goal of a business.  Jobs are not the goal.  They are a by-product.  Lordy. 

Michele Bachmann is claiming that she's the only person with the legislative experience to repeal ObamaCare. 

Gingrich is trying to get some party unity going, claiming that all of his brothers in pork are against ObamaCare, and he's not going to put up with MSDNC trying to get Republicans fighting with each other. 

Herman Cain, after multiple appearances on Stossel, Freedomwatch, and debates that I've seen, finally cut loose a rip on ObamaCare that I could agree with. 

God help me.  Rick Santorum just answered a trick question on welfare, using words that I could have possibly written.  I think the entire world, after the last 3 years, is now leaning Libertarian. 

Bachmann says that "energy" is one of the greatest opportunities for job creation that we have.  Bullshit.  Outlawing "energy" and digging ditches with spoons would create the most jobs.  But that's not the point.  We'll have good job creation when we allow entrepreneurs to get filthy stinkin' rich.  Jobs are merely a by-product of that process. Deal with it.  Thank you. 

They just asked Ron Paul if eliminating the minimum wage would create more jobs.  He answered that it would.  Didn't even think about it.  Why?  Because it would. 

Ron Paul just scared the shit out of me.  I thought he'd lost it.  He said he could create a gallon of gas for a dime.  Yes, for a dime.  But yes, if you have an old-school silver dime, it's now worth $3.50. 

Brilliant.  Freakin' brilliant. 

Now Perry is attacking Paul for quitting the party, and writing an anti-Reagan letter.  Paul says Reagan taxed too much and spent too much.  Yep.  Until Obama came along, more debt was rung up under presidents named Reagan and Bush than all other presidents combined.  Look it up.  Hit the Ronald Reagan label at the bottom of this post. 

Ok, the airplane hanging over the audience is Reagan's Air Force One plane.

Shortly after hitting Ron Paul with an anti-Reagan question, they're acknowledging Nancy Reagan in the audience and giving her a round of applause.  Nice. 

Rick Perry is saying good stuff about Social Security being as broke as The Ten Commandments, and that anyone who promises money to today's young workers is lying. 

Mitt Romney, bless his Mormon heart, is defending Social Security.  Let's see two workers support one retiree.  That's where we're headed. 

Rick Perry, bless his perfect hair, is calling Social Security a Ponzi scheme.  Because that's what it is. 

Herman Cain, bless his thick crust, just suggested that we go to the Chilean system for retirement plans.  Go here for info. 

The moderators have now taken us off into inoculations.  I bet fluoride in the water supply will be next. 

Ron Paul just hit a home run on a TSA question.  Now Brian Williams is going after him on FEMA.  Paul asks him back "What happened before 1979 when we didn't have FEMA?"  Let the states handle it.  Doh. 

Herman Cain wants to fix FEMA and fix Homeland Security.  Good luck, Herm. 

Jon Huntsman is bleating about what he did for job creation. 

I can't watch any more of this.  With the possible exception of Ron Paul, I can't drink enough beer to imagine any of these people being willing to cut out a single cabinet-level department.  I can't imagine MSDNC asking the question. 

If something happens that's remotely interesting, I might expand on this thing.  Dull, dull, dull.  Talking points, talking points, talking points.

Good night !!

If you're disappointed in this blog post, I apologize. Here's a fun video: