Call Me Stormy

Finding righteous currents in turbulent times

Archive for the category “Economizing”

What Stinkin’ Recovery?

Glenn Reynolds of PJTV’s “Instavision” says that if you believe President Obama, we’ve recovered from the worst economic crisis since the Great Depression. But the unemployment malaise continues, fewer people are actually looking for work and the housing market remains sluggish. Reynolds talks with Terry Jones and Andrew Malcolm of Investor’s Business Daily,who discuss whether another housing bubble is on the horizon.

Bankers Get Free Pass

When Barack Obama took office in 2009, he promised to vigorously prosecute those who sold sub-prime mortgages to people who they knew couldn’t afford them, then passing them off to bankers as rock-solid investments. History tells us the double-whammy led to the country’s financial collapse of 2007-2008. Dick Morris tells us the majority of these mortgage-fraud bankers got off scott free, while many Americans are still suffering the after-effects of the crisis.

Sticky Fingers of Government

Financial commentator Peter Schiff says living standards of non-farm American laborers have taken a mighty dip in the last 70 years. Applying the gold standard (real money) and allowing for inflation, Schiff calculated that the average non-farm American worker earned about $140,000 in 1947. Fast forward to today, and that same average has collapsed to $43,000. In this edition of The Peter Schiff Show, Schiff puts the blame squarely on the government. Listen in as he explains.

Pope Wrong About Capitalism

When Pope Francis decried that the culture of prosperity deadens us all and blamed it on capitalism last December, that riled more than a few capitalists. One of them is Marian Tupy, senior policy analyst at the Cato Institute and editor of the website Human Progress, who tells Reason TV’s Nick Gillespie that Pope Francis is wrong on two counts. “First of all, the Pope is under the impression that the markets are free. That the markets are unfettered. He uses the expression ‘totally autonomous markets.’ In fact, over the past 20 years Washington alone has produced some 80,000 regulations … we don’t really have free markets as such. And secondly, what we see in countries with a level of great economic freedom, the poor are richer, they own a greater share of national wealth, there is less corruption and there are greater political and civil liberties.”

Stay Tuned for Dow Doldrums

The stock market’s rise to astronomic highs in the last couple of years is not the result of a robust economy, as the Obama Administration would have you believe. But its record advance has come from a little help from a friend, specifically, the Federal Reserve Bank and its quantitative easing, or QE, plan, an unconventional monetary policy used to stimulate the economy. “We never have recovered from anything,” says financial commentator Peter Schiff. “We just got sicker. Except we just didn’t feel the pain because we had all this QE novacaine.” The QE policy, at its height, was pumping $85 billion into the bond markets, thus easing interest rates and driving the stock market to record levels. In recent months, the monetary infusion has been pared to $65 billion, prompting Schiff to predict the markets are going to collapse unless they get another fix from the Fed.

Detroit’s War On Small Business

Dire economic times in the Motor City have spawned a war of sorts between small business owners and the City of Detroit. Owners claim you can’t count on the city to help stem the wave of crime that has sprouted since the city’s economic collapse. And the city says small business owners are not complying with the law. “Accidentally, the city has created sort of an anarchistic culture in the city, where many entrepreneurs, especially the smaller retailers and restauranteurs, simply forego getting the required permits that the city is demanding of them because it’s too expensive and because it often takes too long, and sometimes the inspections that are done are of low quality,” says Michael LaFaive of the Mackinac Center for Public Policy. “Entrepreneurs have said, ‘Look, let them catch me if they can.’ Right now the city has decided that, ‘We’re going to try to catch you.’” Check out both sides of the argument on this edition of Reason TV.

Entrepreneurship in Trouble

Carly Fiorina, former CEO of Hewlett-Packard and founder and CEO of Carly Fiorina Enterprises, discusses small business, regulation and the overall health of the economy. “There are fewer small businesses starting and more failing right now than at any time in the last 40 year,” she says. The Wall Street Journal reports

Crony Capitalism and the Fed

What’s behind the sluggish economy? A corrupt form of crony capitalism in which the Federal Reserve lines the pockets of the richest bankers, while destroying the economic fiber of the nation. Pundit Dick Morris explains.

Fair-Trade Coffee

Fair-trade coffee sells at a higher price and helps the farmer—a small landowner—receive more profit for his product. Unfortunately, fair-trade products do nothing to help impoverished migrant workers. Is there a better way to help the poorest of the poor? Prof. Colleen Haight has researched fair-trade coffee for over 10 years and has visited several Central American coffee farms. She suggests that while fair trade has done much to increase consumer awareness, it is not the best way to help the poor. Instead, she recommends buying premium coffees. As premium coffee beans fetch higher prices in the market, migrant workers who work on premium coffee farms earn higher pay.

A Day with a Russian Billionaire

To see how the .00001% lives, Vice met up with infamous Russian oligarch Sergey Veremeenko and spent quality time hog-hunting and helicopter-joyriding at his private estate outside Moscow.

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