Archive for the ‘Video’ Category
Fifty years ago, U.S. silver coins disappeared from circulation, symbolizing a profound shift in the behavior of the government with respect to money.
You don’t get economic growth without investment. Capital comes from savings and profits. Period. Every tax and regulation that hurt the creation of capital and punish the rewards of successful risk-taking hurt everyone–but most particularly those with the least, who want, as Lincoln put it, to improve their lot in life. It’s not enough to invent something great. You have to have an environment in which entrepreneurs can turn inventions into marketplace products that become increasingly better, cheaper and more accessible to all.
Henry Ford didn’t invent the automobile. But through constant experimentation and two painful bankruptcies he turned what had been a toy for tinkerers and the rich (a car in the early 1900s cost the equivalent of more than $100,000 today) into something every working person could afford. Steve Jobs and Michael Dell did the same with personal computers. If you had tried to build an iPhone in the early 1990s, the cost would have been more than $3.5 million.
Shortages of everything from water to car parts and flour to pregnancy tests come after three months of protests against the government of President Nicolas Maduro that have left at least 41 people dead. The government yesterday said it will start rationing electricity and water as drought drains hydroelectric reservoirs and water tanks.
GAO report notes exorbitant prices act as de facto subsidy for biofuel firms
Mac Faber: I’m Worried About A Crisis Bigger Than 2008
In the USA, it’s OK to fail and fail and try again. In most of Europe and much of the world, the attitude is: You had your shot, you failed, and now you should just go work for someone else.
But this limits the possibilities. And some of America’s biggest successes came from people who failed often.
We know that Thomas Edison invented the light bulb, but few people know that Edison filed 1,000 patents for ideas that went nowhere. He was fired by the telegraph office. He lost money investing in a cement company and an iron business.
Henry Ford’s first company failed completely. Dr. Seuss’s first book was rejected by 27 publishers. Oprah was fired from her first job as a reporter. A TV station called her “unfit for TV.”
But they all kept striving—and succeeded. They were lucky to live in America, where investors and your neighbors encourage you to try and try again. We are lucky to benefit from their persistence.
But those happy experiments are less likely to happen today. Now there are many more rules, and regulators add hundreds of pages of new ones every week.
“Are we still a capitalist democracy or have we gone over into an oligarchic form of society in which incredible economic and political power now rests with the billionaire class?” Sen. Bernie Sanders, a Vermont socialist, asked that question of Federal Reserve Chair Janet Yellen at a hearing on Capitol Hill Wednesday.
Yellen said she’d “prefer not to give labels,” but she admitted to being very concerned about income inequality.
“So, all of the statistics on inequality that you’ve cited are ones that greatly concern me, and I think for the same reason that you’re concerned about them. They can shape the — determine the ability of different groups to participate equally in the democracy and have grave effects on social stability over time.
Federal Reserve Chairman Janet Yellen, referencing the Congressional Budget Office’s long-term budget projections, told the Joint Economic Committee of Congress today that under current policies the federal government’s deficits “will rise to unsustainable levels.”
In the 10-year budget projections it released in April, the CBO estimated that the federal government will run $7.618 trillion in deficits from 2015 through 2024. At the same time, the CBO projected that the federal government’s debt held by the public would rise from $11.983 trillion at the end of fiscal 2013 to $20.947 trillion by the end of 2024.
World economic freedom has reached record levels, according to the 2014 Index of Economic Freedom, released Tuesday by the Heritage Foundation and The Wall Street Journal. But after seven straight years of decline, the U.S. has dropped out of the top 10 most economically free countries.
President Obama on Tuesday said he’s “not just going to be waiting for legislation” from Congress to move forward his agenda in 2014, further stoking a clash between both ends of Pennsylvania Avenue over the reach of executive power.
“I’ve got a pen and I’ve got a phone,” Obama said before a Cabinet meeting at the White House, issuing a challenge to GOP lawmakers who have blocked most of his second-term agenda.
Obama is hailing 2014 as a “year of action” after enduring the roughest 12-month stretch of his presidency.
If everything goes according to plan, Laurie Pickard will earn her MBA in three years for less than $1,000. She’ll take classes from Harvard, Wharton, and Yale, among other top-tier schools. And she’ll tackle it all while keeping her full-time job as a rural enterprise development and entrepreneurship specialist at USAID. She’ll accomplish all of this from Kigali, Rwanda.
It sounds too good to be true. But Pickard, 32, is determined to pull it off. If successful, she’ll arguably be the first person in the world to cobble together an MBA program from massive open online courses (MOOCs), free or low-cost classes accessible to anyone with Internet access.
Pickard didn’t plan to pave the way for earning a dirt-cheap business education. In fact, she initially had her sights set on a more conventional path — and she has the background to get into an elite program. Pickard’s resume includes a B.A. in politics from Oberlin College, an M.A. in geography and urban studies from Temple University, and stints with the Peace Corps and the International Finance Corporation in Nicaragua.
A pioneering climate scientist with decades at Harvard and MIT, Lindzen sees his discipline as being deeply compromised by political pressure, data fudging, out-and-out guesswork, and wholly unwarranted alarmism. In a shot across the bow of what many insist is indisputable scientific truth, Lindzen characterizes global warming as “small and . . . nothing to be alarmed about.” In the climate debate—on which hinge far-reaching questions of public policy—them’s fightin’ words.
The survey, conducted this past week, found that 40 percent of Americans now work more than 40 hours per week, including nine percent who work more than 50 hours per week.
Last May, Rasmussen found that 33 percent of Americans worked more than 40 hours per week, including 11 percent who worked more than 50 hours weekly. The most recent survey suggests that, in just seven months, the number of Americans working more than 40 hours per week has increased.
According to the survey published Friday, 28 percent of Americans now work less than 40 hours per week, which is a drop of six points from 34 percent in the May survey.
The survey of 623 employed adults had a margin of sampling error of +/- three percentage points with a 95 percent level of confidence.
In a Rasmussen survey released in November, Americans were found to be more pessimistic about the U.S. job market than they have been in nearly two years.
Of the 1,000 adults surveyed, just 19 percent believed the job market is better than it was one year ago, a decline of six points from September and the lowest finding since December of 2011.
As thousands of state residents enroll in Washington’s expanded Medicaid program, many will be surprised at fine print: After you’re dead, your estate can be billed for ordinary health-care expenses. State officials are scrambling to change the rule.
As the investigation into the shooting at Arapahoe High School continues, law enforcement officials stress that the presence of an armed guard in the school “was the key factor in preventing more deaths and injuries.”
A new report released from the Administrative Conference of the United States (ACUS) has found that the Obama Administration delayed enacting regulations that could adversely affect the 2012 presidential election. The ACUS is an independent agency that advises the government on regulatory matters.
Seventy-two percent of Americans say big government is a greater threat to the U.S. in the future than is big business or big labor, a record high in the nearly 50-year history of this question. The prior high for big government was 65% in 1999 and 2000. Big government has always topped big business and big labor, including in the initial asking in 1965, but just 35% named it at that time.