Showing posts with label populism. Show all posts
Showing posts with label populism. Show all posts

Tuesday, July 07, 2026

President Trump announces Walmart to lower prices for thousands of products at his administration's request

Good, but ambiguous news! The president of the people or a populist?

It is however controversial at a minimum, when a government intervenes at a private business to lower product prices.

"President Donald Trump said Monday that Walmart has confirmed it will be lowering its prices for thousands of products this summer at his administration's request in celebration of the United States' 250th birthday.

Walmart said it will be lowering prices through its signature Rollbacks and Sam's Club programs, and customers can expect savings on groceries, household and everyday essentials, outdoor living, toys and apparel.

Trump noted that one grocery price that the savings include is a reduction in the cost of beef, which he said will be lowered by almost 15% per pound. Walmart said a pound of beef will now cost $5.94 instead of $6.74. ..."

Trump announces Walmart to lower prices for thousands of products at his administration's request | Just The News "Walmart said it will be lowering prices through its signature Rollbacks and Sam's Club programs, and customers can expect savings on groceries, household and everyday essentials, outdoor living, toys and apparel."

Thursday, January 08, 2026

President Trump threatens to take steps to ban large institutional investors from buying single-family homes. Really!

This seems to be a really bad, populist idea by President Trump! Looks like an arbitrary, selective big government intervention into a free market economy!

"... arguing that corporate ownership has helped push housing further out of reach for everyday Americans."

Thursday, January 8, 2026 - Join The Flyover

Monday, December 20, 2021

Leftist populist Gabriel Boric Wins Chile’s Presidential Election at Age 35

Will one of the most successful countries in terms of its economy go down the drain? Chile developed probably the best private free market economy of any of the large Latin American countries, but democracy is no guarantee to maintain such progress! The Miracle of Chile no more?

Too bad, Chile might follow down the wrong path of Venezuela, Brazil, Argentina!

Will the next wave of refugees from Chile not be fleeing a military junta, but a leftist tyranny causing poverty.

"He received 56% of the votes, handily defeating conservative rival José Antonio Kast, an immigration hardliner and ally of Brazilian President Jair Bolsonaro. Boric, a former student-protest leader, pledges to raise taxes to expand social services and dismantle a private pension system in Latin America’s richest nation"

Gabriel Boric Wins Chile’s Presidential Election at Age 35 - WSJ The leftist and former student protest leader pledges to raise taxes and dismantle a private pension system in Latin America’s richest nation

Saturday, November 07, 2020

Florida voters approved automatic minimum wage increases in 2020 election

From the Wall Street Journal:
"In Florida, 61% of voters approved an initiative that will significantly raise the state’s minimum wage, from $8.56 to $10 an hour next year, before it increases by $1 a year until hitting $15 an hour in 2026. Florida is now the eighth state to adopt that wage floor and the first to do so through a ballot initiative."

This is very regrettable and goes to confirm again the poor economic education of the people! To put it very bluntly, only fools vote or desire minimum wages!

If voters want to help the poor etc. donate money to e.g. organisations that help the poor improve their lives.

The arguments against minimum wage should be well known by many:

  1. It is unconstitutional and a violation of individual liberty and property rights
  2. These are big government wage and price controls. They represent a severe government intervention into free markets
  3. As a minimum, the minimum wage hurts disable people to find dignity in work. With minimum wages they depend on assistance from government or others 
  4. It is highly wishful thinking/a fantasy on behalf of citizens that such measures could improve peoples lives
  5. The economic damage is far greater than the benefits
  6. Shortsighted populism won over reality and common sense
  7. By accepting such unconstitutional measures the door is wide open for government or powerful interest groups to seek bigger government

Saturday, August 22, 2020

A Critical Assessment of Canada’s Official Poverty Line

Recommendable! Not only Canada suffers from these controversial policies, other Western countries (e.g. Germany) make the same mistakes.

The concept of measuring poverty in a society is closely related to other concepts such as the popular unconditional, guaranteed universal basic income for everyone. 

Populist politicians would do everything to raise the poverty level or the basic income to buy votes and create dependency on government! However, who is paying for these lavish government handouts?

Big Government politicians favor these concepts too! Both give them ultimate control and power over who receives what! They will be seen and praised as benefactors!

There are many other ways the poor can be helped! Easing barriers to entry into the economy (e.g. business and professional licensure). Increasing competition to lower prices of goods and services, medical services and medications, housing and much more would also go long way to reduce poverty!

"The more important concern with the MBM as our official measure of poverty is conceptual. By choosing to define poverty as a condition in which a person is unable to acquire a living standard needed to integrate and participate in society, the government has rendered poverty unmeasurable."

A Critical Assessment of Canada’s Official Poverty Line | Fraser Institute

Wednesday, March 04, 2020

Bernie Sander's Agenda of Impoverishment

I like the headline! Bernie Sanders is just another cheap populist in a long line of previous populists in U.S. history! 

Famously, one of these early populist movements was so revealingly called The No Nothing! Bernie Sanders and his acolytes fit right in! 

Agenda of Impoverishment Bernie Sanders’s proposals would destroy America’s economic vitality

The Manhattan Institute announced today another interesting headline:
The Second Coming of Eugene V. Debs
"Bernie Sanders says he’s another FDR, but he's more closely related to the early 20th-century labor leader who ran for the presidency five times as a Socialist."

What about any semblance between Bernie Sanders and William Jennings Bryan?

On another note, it is quite shocking that the Dimocratic Party had a dozen or more presidential candidates and none of them represented a middle of the road approach to win over ordinary citizens and voters. A democracy works best if the opposition party has representative candidates and not almost exclusively fringe candidates!

Wednesday, November 06, 2019

Marco Rubio Is A Staunch Catholic Socialist

Posted: 11/6/2019

No wonder, his presidential candidacy/aspirations utterly failed! Then candidate Trump nailed him and we all benefit from it!

Republican Senator Marco Rubio gave a very revealing speech of about 40 minutes on November 4, 2019 at the Catholic University of America in Washington DC titled “Human Dignity and the Purpose of Capitalism”. I attempted to find the full text/transcript of his speech on the Internet, but unfortunately I could not find it

His speech appears to be based on or inspired by the famous/infamous encyclica Rerum Novarum of 1891 issued by Pope Leo XIII. I venture to say, Rubio curiously misinterprets this encyclica as if it was the Communist Manifesto of Karl Marx and Friedrich Engels.

“More recently, in August of this year, he penned a 1,100-word essay titled “What Economics is For” in the conservative journal First Things, where explored some of the same themes he raised on Tuesday.” (S2) I did not have time to peruse or read his essay, but I strongly suspect it will also confirm that he is an avowed Catholic Socialist!

Some selected, reported quotes from Rubio’s speech (emphasis added):
  1. “Does our country exist to serve the interest of the market, or does the market exist to serve the interest of our nation?” he asked his audience at the Washington school.” (S2) What a stupid question coming from a U.S. Senator! Not to mention he borrowed from John F Kennedy!
  2. “the people whose lives were turned upside down when companies exercised their right to make a profit by taking their jobs to another country, but did so with little regard with the corresponding duty to invest in their own workers.” (S2)
    Another extremely stupid remark! His is as economically illiterate as Obama ever was if not worse!
  3. “The people who enjoyed cheaper college themselves, but then turned around and raised tuition. The people who brazenly adopted the motto ‘greed is good’ in the 1980s but then caused a catastrophic financial crisis and left them with this disordered economy.It is a truth recognized in both ancient and contemporary times that no nation can be strong if the whole nation does not benefit from its strength” (S4, S1)
    What a naive and dangerous populist!
  4. “But businesses also have an obligation to reinvest some of those profits productively for the benefit of the workers and the society that made it possible. And workers, if they’re able-bodied, have an obligation to work.”
    These obligations do not exist you foolish senator! Read the Declaration of Independence again you moron!

Sources (S):

Friday, June 17, 2016

Reckless Monetary Policy Dooms Western Democracies

Posted: 6/17/2016

I have blogged here numerous times about the irresponsible and reckless monetary policies pursued by the likes of Alan Greenspan and the dim witted economic professor and successor Ben Bernanke. The current head of the U.S. Federal Reserve System, another very pale economic professor, Janet Yellen is not much better. Mario Draghi (or Dracula) or his predecessor at the European Central Bank have not been better either. By the way, Ben Bernanke and Mario Draghi were both students of Stanley Fischer.

To destroy western civilization and individual freedom politicians start by debauching the currency. This basic wisdom has been known hundreds of years before Maynard Keynes or Lenin.

If awful monetary policies are pursued in conjunction with irresponsible fiscal policies (more deficits and more government debt and more government regulation instead of lower taxes and more economic freedom) as is the case in the first decade of the 21st century, then our elected politicians have created the perfect storm.

Why the considerable rise of populism in recent times in Europe or the USA?

Why are Western democracies in crisis as I blogged here before?

Sunday, January 26, 2014

The Demagoguery Of Inequality Destructs Civil Society

Posted: 1/26/2014 Updated: 9/13/2014

Trigger

Just read articles about a recent Oxfam International study “Rigged rules mean economic growth increasingly “winner takes all” for rich elites all over world” dated 1/20/2014.

The subject of an alleged inequality or better demagoguery of inequality is rehashed on a daily basis by so sophisticated people or our so called intellectual elite.

Here is a recommendable article about this subject “Selling Envy/How governments promote the worst in us to redistribute wealth”.

The Bible And Civil Society

The Ten Commandments demand that you do not covet thy neighbor’s wife nor property. The ancient and universal Golden Rule rules.

I would argue that these two principles alone, i.e. thou shalt not covet and the Golden Rule, are the most fundamental principles of any civil society. You may want to add strict non violence.

John Stuart Mill in On Liberty about envy: “that most anti-social and odious of all passions, envy”.

Civil Societies rise and fall or perish if these two principles are abandoned.

The Great Recession And Its Scapegoats

With the Great Recession our elected politicians have been very busy trying to find and blame scapegoats, but not themselves, for massive government failure.

Insufficient economic growth breeds resentment against those who are still successful.

Big government (high taxes, over regulation, too many entitlements) has and still continues to smother economic growth, which would provide more opportunities for more people to improve their lives.

U.S. President Obama Is A Dangerous Populist

Or is he a demagogue?

U.S. President Barack Obama appears to be poised to exploit the ideology of inequality as his main talking point in the mid-term elections of 2014. As if there is something odorous about people who made money during or before the Great Recession.
U.S. President Obama is one of the worst offenders. The community organizers is economically illiterate and he is an enemy of business.

He is the latest incarnation of a U.S. President who is far removed from his predecessor U.S. President Calvin Coolidge perhaps one of the last U.S. presidents who understood that the business of free and responsible individuals in a free America is business not big government.

For any U.S. President to engage in such petty populism is a disgrace to the world.

Conclusion

More economic growth, free trade and free markets, more competition, and foremost less government!

More self-made millionaires!

Sunday, July 07, 2013

La Guardia - A Republican New Dealer

A New Biography

Just read the review of “City of Ambition” by Mason B. Williams written by Fred Siegel in the Wall Street Journal dated 6/28/2013. The review is titled “The New Deal's Favorite Mayor/La Guardia and FDR shared a faith in redistributive taxation, heavy-handed regulation and public works on a grand scale.”

Mr. Fiorello La Guardia was smart, witty, anti-Nazi, folksy and he had a very impressive life, but his politics were largely statist and strongly pro big government. Probably, he was a great populist.

Not least his name is e.g. associated with the big government law “Norris-La Guardia Act of 1932” that prohibited yellow-dog contracts, barred the federal courts from issuing injunctions against nonviolent labor disputes, and created a positive right of noninterference by employers against workers joining trade unions.. “LaGuardia fought for progressive income taxes, greater government oversight of Wall Street, and national employment insurance for workers idled by the Great Depression.” (Wikipedia).

Soak The Rich

Excerpts from the review(Emphasis added plus comments):
1.       “… the Depression-era relationship between Franklin Roosevelt (first as New York governor, then as president) and Fiorello La Guardia (first as congressman, then as mayor) created what is still the political culture of New York City—a kind of civic religion that was once known as "Fiorellism." If there is a problem in Gotham, the enduring Fiorellist assumption is that there must be a government solution.”
2.       “It was an unlikely pairing. Roosevelt was a Protestant, Hudson Valley squire, a Democrat. La Guardia was a half-Italian, half-Jewish, progressive Republican who had lived in Arizona and Trieste before returning to the city of his birth. The two men came to know each other in the prosperous 1920s and became strong allies in the 1930s. (Roosevelt's presidency ran from 1933 to 1945; La Guardia's mayoralty from 1934 to 1945.) They shared a disdain for businessmen that manifested itself in a faith in government regulation and redistributive taxation—and in public-works projects on a grand scale.”
[Hitler, Stalin, and Mussolini also liked public works projects on a grand scale.]
3.       "It would be almost but not quite fair," wrote New Dealer Rexford Tugwell [a close confidant of FDR], "to say that he was an instinctive dictator."
4.       “La Guardia's close alliance with FDR faded with the approaching war. The city, left to its own devices and burdened by La Guardia's hostility to business, began flirting with bankruptcy again during his third and final term. City workers, given a stake in their jobs by civil service, organized 15 years later into the public-sector unions that have come to dominate civic life and ensure that, for New York City, bankruptcy is never an altogether unlikely possibility.”
[Populism and fiscal irresponsibility often go hand in hand]
5.       “La Guardia loved to shout about how we should "soak the rich."”
[In this respect, he was a great fool like most populists.]

Sunday, September 23, 2012

A Capital Gains Tax Primer


A Primer By The Wall Street Journal

I did not have to write my own, the Wall Street Journal did a fine job by publishing one in the US weekend edition (9/22/2012) titled “A Capital Gains Primer” (Unfortunately by subscription only). I think this great newspaper is doing the general public a disfavor not to make this good article available.

Brief Summary

In the US, capital gains taxes are a form of double taxation, because business profits are taxed first, then their distribution to investors.

All Americans investing in the stock market or directly in enterprises benefit from low capital gains taxes. American employees benefit from higher business investments through better employment opportunities and higher wages. Thus, those who claim only “millionaires and billionaires” are populist demagogues who do not have the slightest clue how a free market economy works.