So is this the end of Pelosi?

As we said a few months ago, many in the GOP are more than happy to have Ms. Pelosi leading the Dems in the House. And she keeps clinging, Castro style, to power.

Ossoff could have been the begining of something for the Dems, and indeed this apears to be so. But it’s not the “something” they were hoping for.

Oh, for the heady days of hope, change, and Pelosi One,

Read More

Cronycare lives on: McConnell, Senate GOP, want to keep the Obamacare insurance company subsidies

Of course they do. The insurance companies aren’t going to be left hanging out in the wind. Those companies fought for that stream of taxpayer money after all. And darn it, the Senate GOP is going to make sure they keep getting it.

Obamacare was crony from the start and it likely will remain so. Now with the GOP’s blessing.

Read More

How the Democrats Lost Their Way on Immigration (OR: How the Dems sold out the American working class for votes and favor from corporations)

The whole “open borders” stance with the Democrats is new – as is documented in this excellent if ultimately wrong headed article in The Atlantic. When I was growing up it was conservatives – of the economic sort primarily – who called for more immigration. (This was always a point of conflict with socialcons however.) Why restrict human capital as we sought to unleash other types of capital? If there are jobs at a certain wage level why not let people cross the border and fill those jobs?

Read More

Fed official in effect says that competition and lower prices for consumers are bad for the economy and must be offset by Fed policy!

Yeah, I mean who wants lower prices and a higher standard of living anyway right? Screw that. We want higher prices and less for each dollar we earn. That’s much better.

Read More

Don’t Bail Out Failing States Like Illinois

Sounds like a case of the “Detroits.” Actually many cases of the Detroits.

The government is too big in these states. There are too many state employees. These employees want unrealistic pensions. (What’s a pension?) They lived like there was no tomorrow for decades and now “tomorrow” is here.

And we ain’t – I repeat are not, will not, ain’t – a’gonna bail you out.

Read More

As Amazon purchases Whole Foods, don’t fear for the cashier. Fear for the supermarket (Actually don’t fear.)

“Emperor Bezos thanks you for shopping at Whole Foods.”

Across the nation hipster trustafarians and well heeled Subaru Outback drivers are fretting. What is to come of Whole Foods now that Amazon has eaten it? The attached article is a good example of this.

But I say, fear not foodies. Life will go on. In fact it may be better under Jeff Bezos and an army of robots. Amazon isn’t interested in losing value and chasing away customers.

Read More

The Dow has rallied 3000 POINTS since Donald Trump was elected, Media silent

People seem confused by this rally. Really a rally on top of a Fed induced (to a very large extent) bull market extending back many years. How can this be, some wonder? Trump is bad news. How could the market tick up, solidly and definitively, in the wake of Trump’s election?

My feeling, and it is only this, and it is sure to contradicted by many a CNBC Squawk Box special guest, is that investors are just relieved that Obama is gone and that America dodged the Hillary bullet.

Read More

The US War on Drugs started 46 years ago today. Some commentary from Milton Friedman on that failed and shameful war

The War on Drugs is as they say a War on the American People.

It is also a war that is largely fought to benefit cronies. Parts of law enforcement, the prison complex, Pharma, and most importantly and maybe most tragically the drug cartels, benefit from the conflict. One could throw in some of the banks too.

All because of a deep puritanical streak in the American consciousness that has been exploited for political power and financial gain.

Read More