Tuesday, June 20, 2017

What Free Tuition Really Means

If you are watching the extra-curricular sideshows taking place on college campuses these days, you already know that it's not your grandfather's (or grandmother's) college campus.

Shouting down speakers you disagree with and kangaroo courts designed to punish those who you suspect of bad behavior or whose political views you don't share is becoming common everywhere in academe.

So, what about free tuition?  The argument for this is normally phrased as a discussion about education.  But, is that what is really going on at America's colleges and universities?  Or is the modern campus life more about political indoctrination and less about education in the sense of math, literature, history, foreign languages, chemistry, physics, engineering and so forth.

What to make of all the new majors that are essentially "identity" education?  Since most academics know nothing about these topics, all kinds of new academics have been minted to fill the faculty slots that these new majors have created.  If you have been following this evolution, you know that the vast majority of the newly minted academics are essentially political creatures with a predominantly left-wing agenda.  Not much real research, in the classic sense of that term, is going on in the new world of "identity" education.

So, free tuition is likely to mainly fund a whole new group of political activists and do little or nothing to promote the kind of educational advancement that has traditionally been provided in Amerca's colleges and universities.  For those on the far left, this is the great!  Indeed, this is the plan.

The wonder is that wealthy folks continue to pour fantastic sums into these hotbeds of single mindedness in the bizarre view that they are furthering education.  All of the money pouring into these places is simply funding the revolution.  Virtually none of this money goes to education of the type that flourished a generation ago.  It's all new age "identity" education.  Turn on your TV and you will see it in action on a regular basis, as folks whose views don't fit the new "identity" world are shouted down, beaten and driven from the campus.

Saturday, June 17, 2017

Fed "Raises Rates" ..... yawn

The Fed moved up the overnight repo rate another 25 basis points by continuing to be the borrower of last resort.  By putting an arbitrary minimum on repos done on their own account they force a minimum onto the market.  Big deal.  No other rates, other than overnight rates, budged.  So much for the Fed raising rates.

The massive excess reserve position of the US commercial banking system precludes any real tightening policy as over $ 3 trillion of bond sales would be required to accomplish that.

Not going to happen.

Instead, we just have more conversation from the Fed and the Fed watchers.  Much ado about nothing.

Friday, June 16, 2017

And...For Those Who Lack an $ 18 skill set?

The left now proposes that anyone who does not have at least an $ 18 skill set (remember that social security payments are mandatory for all employees) can no longer work in their state and/or the USA. At least twenty percent of the American population fails that test and therefore are legally prohibited from working in any profit-seeking business.  Thus, the poorest among us are told that if you seek to improve your skill levels by learning on the job, you are a criminal.  That's what the $ 15 minimum wage law says and does.

Of course, the left thinks companies that seek profits are evil.  But, unfortunately for that narrative, not everyone can live off their parents and/or the taxpayer.  At the end of the day, someone has to support all of this and that someone is the profit-seeking part of the economy.  The government and Mom and Dad can only do so much.

Criminalizing the effort to improve one's life chances is the main program of the left.  Letting people freely accept pay in the form of work training as opposed to cash is against the law already.  The left simply wants to make such laws more punitive by prohibiting an increasingly large part of the poorest Americans from having any real hope of improving their financial position.

Criminalize the act of being poor.  That is the program of the left.


Anonymous Lies Repeated in a Vicious Cycle

The Washington Post and the NY Times now make it an everyday practice to simply invent news.  The news they invent feeds their ongoing narrative.  The truth, to the Post and the Times, is irrelevant.  They have an agenda and they want to fit the stories to that agenda.  If the facts in the story are completely false, the Post and the Times don't care.  As long as it feeds the narrative, anything goes.

So, you wonder why people don't trust the media anymore.  Why should they?  Lies begin in the Washington Post and/or the NYTimes, are repeated by the main-stream media and then blared out all day long on CNN and MSNBC.  When, as is almost inevitably the case, the truth comes out and the lies are exposed (See the Feb 14th NY Times article about supposed collusion between the Trump team and the Russians as a poster-child example of the lies masquerading as a news story), there is never a retraction or an apology.  Instead, WAPO simply moves on to the next lie and the cycle repeats itself.

The same practice occurs in the reporting of economic and financial news.  The truth is no longer what matters to the media.  If you want to make your case against something, just invent facts that can fit that case and publish those false facts so that you can make your case.

Truth and integrity are no longer relevant to a media that simply wants to pursue an agenda.  This media has no interest in facts or truth.  They have an agenda and that is all they care about.  Who are we talking about: ABC, CBS, NBC, MSNBC, CNN, the NYTimes, Washington Post and the Financial Times.  Truth is largely irrelevant to this group.

Saturday, June 10, 2017

NY Times Publishes Deliberate Lies

On February 14th of this year, the NY Times ran a story with the following headline:

"Trump Campaign Aides Had Repeated Contacts With Russian Intelligence"

This story was written by Michael Schmidt, Mark Mazzetti and Matt Apuzzo.

Here's the first line of the story:

"Phone records and intercepted calls show that members of Donald J. Trump's 2016 presidential campaign and other Trump associates had repeated contacts with senior Russian intelligence officials in the year before the election, according to four current and former American officials."

The headline and the quote are deliberate lies by the authors and the NY Times.

Here's what James Comey had to say under oath this week about the NY Times fabricated story:

"In the main, it was not true.  The challenge and I'm not picking on reporters, about writing stories about classified information is the people talking about it often don't really know what's going on and those of us who actually know what's going on are not talking about it."

In other words, the story was a complete (and, no doubt, deliberate) fabrication designed solely to damage the United States in the eyes of its citizens and in the eyes of the world.

The NY Times has yet to apologize for the story.  No doubt they are proud of it, because the pack of lies they ran on February 14th led to the appointment of a special counsel and fueled an enormous firestorm led by a dishonest and corrupt media.  All based upon deliberate lies by a formerly-respected news organization.

What else is left to say about the NY Times as a journalistic source?


Theresa May Deserved Her Defeat

Theresa May, the British PM, lost her majority in Parliament this past week in a stunning upset.  The Conservative Party, of which she is the leader, fell 10 seats short of a majority, forcing May to cut a deal with some other smaller party in order to form a new government.

May deserved to lose.

May spent much of her political career explaining that she didn't really believe in free markets and could care less about economic growth.  The voters believed her apparently.

May should be replaced by the Conservative Party with a leader who cares about the economic plight of the average Brit and less about being politically correct.  The "kindler, gentler" approach to conservative leadership, begun under Bush 1 in the US, leads to electoral catastrophe, as May found out this week.

You either believe in free markets or you don't.  May doesn't.  Good riddance.

Friday, June 9, 2017

Economic Growth (sic) in the Euro Zone

Today's news, ignoring the plight of James Comey and Theresa May, includes the revised upward economic growth numbers in Europe.  For the first time in a long time, Europe is experiencing 2+ percent growth.  This is cause for celebration in Europe, whose economy has barely had a pulse for the past decade or so.

It takes 3-4 percent to do anything for folks at the bottom of the pile, so there is no reason for those folks to celebrate.  But, the well-to-do and job-protected bureaucrats and academics can take heart.  There will be, for a while, enough government largesse to keep them going.  Pity those without the protections these folks have.

The overburdening regulations in Europe guarantee that folks at the bottom will never escape, similar to the game plan by the left in the US.  This keeps a ready supply of voters who are mislead, ironically, by the constant drumbeat of income inequality.  If folks at the bottom were given a decent chance to change, for the better, their economic prospects, the left would never win another election.  Thus, the regulatory apparatus designed, in part, to keep the poor in place.

Meanwhile, the Trumpian efforts to get economic growth restarted in the US are sidetracked partly by Trump's foolish behavior and partly by the press, whose main interest these days seems to be an attempt to overthrow the Trump presidency.

Meanwhile, the folks at the bottom of the economic pile, both in Europe and in the US, are left to languish without much hope for a better life.  So, Europe celebrates improved economics for the wealthy and the protected, while America focuses on a non-existent Russian threat.