China is the Ultimate Crony Capitalist State. Its banks, its energy companies, its construction companies, all the big stuff is dominated by an entrenched post-Mao aristocracy. Prices are obfuscated and graft is widespread – particularly the legal kind. Such a situation is fundamentally unstable.
Why is college so expensive? Well, subsidize anything like we have a college education in this country and the price of that thing will rise. It’s not complicated and nothing’s “free.”
Of course he does.
The “Trump bump” has been dramatic. There was a collective sigh of relief from investors as they watched Obama fly away on Marine One. Maybe, finally, the economy would be allowed to breathe.
Perhaps to some degree. But David Stockman warns correctly that the debt monster looms over the economy and that the debt monster is hungry. If we see a real move up in interest rates that debt, roughly 20 TRILLION dollars, is going to be much more expensive to finance.
This is an excellent piece and pings directly on what we have seen firsthand. Millennials are being regulated, by many means, right out of home ownership. The author makes the point that despite the spin, Millennials actually want their own homes. They want families. They don’t necessarily want to spend their lives in tightly packed cities. They just can’t afford homes, families, or to move. Few Millennials will admit this but it’s true. But hey, the mimosas are bottomless at brunch.
Puerto Rico could be the Singapore of the Caribbean if it could get its act together, which unfortunately it probably won’t.
Watch out. Repealing Obamacare is obviously a good thing. Inflating the debt is stupid.
Amen Senator Paul.
This headline comes from CNBC and is misleading. These companies don’t “make the most money from the FEDERAL GOVERNMENT,” Taxpayers are making these companies rich, not the government. It’s not the government’s money. It’s yours. Too many people forget this.
Why are we going into massive debt, in part, to pad the bottom lines of these companies?
The only NFL game I’ve ever been to was when I was fresh out of college and working on The Hill. And I saw it from a one of those box seats suites. The only things I really remember are that I think the Patriots were playing the Redskins, that the fried chicken was the best I’d ever had, and that in the suite it didn’t feel like I was at the game. It was like I was in a hotel bar or something.
Some people just can’t see that earthquakes, hurricanes, and (I’m not joking) alien invasions (“broken windows”) just aren’t good for the economy. This is true even if people are paid to rebuild cities or paid to wage anti-Martian warfare. It’s not complicated. But some very intelligent people can not grasp this basic concept. Some still embrace the thoroughly debunked concept of the “multiplier effect” in the economy. There is no multiplier. There is redistribution. Wealth comes from innovation and ingenuity and creation and risk taking.
Give students free money and the colleges will take it. Then they’ll raise prices. Then the students go and get more money from the government (taxpayers) and give it to the colleges again who then raise their prices. Rinse and repeat.
David Stockman and the co-Founder of ACC Hunter Lewis have both long talked about this thing that CNBC says “no one” is talking about.
Our debt has ballooned under Obama but we’ve been able to service this debt at ultra-low rates. However rates don’t stay low forever, even and perhaps especially when it feels like they will. When rates move up just a bit the cost of servicing our debt is going to increase big time. That will put significant pressure on the economy.