Tag Archives: government

This is why we can’t have nice things anymore

In my opinion, the two saddest parts of this article are:

But since 1969, the inflationary monetary policy of the Fed has caused the US dollar to depreciate by over 80 percent, so that a $100 note in 2010 possessed a purchasing power of only $16.83 in 1969 dollars. That is less purchasing power than a $20 bill in 1969!

and

While he gets charged 5 kronor (80¢) for every credit-card transaction, he is prevented by law from passing this on to his customers. In his words, “For them (the banks), this is a very good way to earn a lot of money, that’s what it’s all about. They make huge profits.”

Governments push to eliminate cash because they can monitor and control electronic transactions, while banks favor them because they can charge you for them and make more money off electronic payment processing.

So banks and governments together favor what benefits them, at our expense.

via Laundered Money by Joseph T. Salerno.

When The Law of the Land is Simply Too Much By Bill Buppert

Well said:

The unfortunate reality is that every one of us in America is moments from a police encounter or judicial decision that robs you of life, liberty and the pursuit of happiness.

There is no common sense to the law anymore. It is simply a means for a monstrous and unthinking bureaucratic machine to slowly crush everything in its path including our very futures. The answer remains: there is no government like no government.

“A country is in a bad state, which is governed only by laws; because a thousand things occur for which laws cannot provide, and where authority ought to interpose.”

– Samuel Johnson

If I ever run for office, my tagline will be a play on the well-known Recycling line: Reduce, Return, RepealReduce the size of government, Return self-government to the people, Repeal as many laws as possible.

via Zero Gov – Anti-Government, Pro-Liberty » Blog Archive » US Out of North America! When The Law of the Land is Simply Too Much By Bill Buppert.

CATO: 2, Government: 0

That’s exactly what I’ve been trying to say!

Milton Friedman was right when he warned that, “In the long run government will spend whatever the tax system will raise, plus as much more as it can get away with.”

Except, my phrasing was, “It is impossible to raise more in taxes than government can spend.”

via You Should Support a Value-Added Tax…if You Want Bigger Government and More Debt | Cato @ Liberty.

And also, Jim Harper gives examples on how government environmentalism not only fails to protect the environment, but rather, helps industry destroy it while reducing overall productivity:

Everyone dreams of a “real regulator” that will clean up industry, protect public values, and smartly manage economic activity. What you routinely end up with is a pro-industry self-dealing agency that fails to protect the values it was assigned while mismanaging productive activity. Case in point.

[…]

I suspect I would find DeChristopher’s environmentalism at least overwrought, but when did it become a criminal offense to default on an auction bid? When the government got into the business, that’s when. Instead of, say, pre-qualifying bidders, it evidently just uses its monopoly on coercion to lock up people who mess around with its action.

Command-and-control is probably the simplest way to advance environmental values, but it has failed so dramatically so many times, and it fosters a punitive state that jails its citizens. The simplest way to advance environmental goals may not be the best.

via How’s that Big-Government Environmentalism Workin’ For Ya’? | Cato @ Liberty.

Controlling costs through appropriate employment numbers

Compare this:

Cisco is reportedly preparing to cut anywhere from 5,000 to 10,000 jobs by then end of August as it adjusts to the reality that it can’t command the prices it wants for its networking gear.

According to Bloomberg, Cisco is preparing to eliminate jobs by the end of August. Some of the cuts will be early retirement, but other layoffs will be involuntary. Reuters put the job cuts at about 5,000.

Cisco Live, the company’s customer event, kicks off Tuesday and Wednesday.

The reality is that Cisco has to adjust to cut costs for the long term because of fierce competition with the likes of Juniper Networks and HP. Both companies are squeezing Cisco’s core router and switch business.

via Cisco preps layoffs, aligns with competitive reality | ZDNet.
With this:

Forgetting for a minute the adverse selection and incentive problems from preferentially attracting folks who want to work in an environment without any accountability for performance, how can an institution that is running $1 trillion over budget not have any layoff either?

via Coyote Blog » Blog Archive » Adverse Selection.

When a private company spends more than it earns, it needs to cut costs or go out of business.  This means finding some way to streamline, save money, or reduce expenses, even if that includes letting people go.

But when a government spends more than it earns, it simply complains that any cuts to expenses are “draconian” or “extreme” or “unbearable” and demands that taxpayers just give it more money, regardless of how bloated, inefficient, worthless, or wasteful the government function and employees are.

Government: Welfare for worthless workers.

Unleashing Financial Hell | 5 Min. Forecast

This is how government encourages economic growth during a recession:

We begin today’s 5 with an ill omen for small business owners: the story of Anthony Fasolino, a third-generation proprietor of a pizzeria in the Bronx.

Fasolino was recently fined $600 for the head-slapping offense of… allowing rainwater from his parking lot to flow into the storm sewers.

No kidding.

Ummm… should he have collected and disposed of the rainwater instead?

Fasolino figures such bogus fines — $200 for a missing cover on a ceiling light was another recent one — eat up as much as 20% of his revenue.

“New York City is unleashing its latest financial hell on cash-strapped business owners,” reports the New York Post, “desperately stepping up fines and announcing a flurry of new fees to raise funds.” The city is counting on such fees and fines for $900 million in revenue.

The health inspectors are the worst, Fasolino says. “They have to find something wrong with the place. If they don’t, their supervisor will come out and then give you a ticket of some kind.”

Government will be fed, even if you must starve to feed it.

via Unleashing Financial Hell | 5 Min. Forecast.