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Tag Archives: Donald Trump

Does Restricting Immigration Necessarily Reduce Unemployment?

Skilled Immigrants Helped Saved our Butts. Does restricting immigration necessarily reduce unemployment? In the long run, it doesn’t, as there is an infinite amount of work to be done. If you doubt that, think of another group that entered the labor force, a group that, from 1950 to 2000, was a more important entrant over that time than immigrants. The group is women. In 1950, there were 43.8 million men in the U.S. labor force and 18.4 million women. By 2000, there...

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The National-Security Fraud

A cogent argument can be made for national security in the sense of protecting one’s free country against foreign tyrants. In the Wealth of Nations, Adam Smith argued that some exceptions could be made to economic freedom in the name of the “common defence.” In his book The State, Anthony de Jasay argues more daringly that the only function of the “capitalist state” or minimal state would be to prevent an ordinary state from replacing it, whether domestic or foreign....

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National Debt Climbs Above $25 Trillion

Twenty-eight days.That’s how long it took to add another $1 trillion to the national debt.On April 7, the debt pushed above $24 trillion. On Tuesday, May 5, it eclipsed $25 trillion.It’s impossible to grasp just how big these numbers are. Consider that the debt is growing at an average of about $1.2 million per minute. Every day, Uncle Sam goes another $1.7 billion in hock.According to the National Debt Clock, the debt to GDP ratio has risen to over 117%. Studies have shown that a debt to...

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Despite Trump’s Best Efforts?

“Despite Trump’s Best Efforts, Economic Freedom Declined in the U.S. Last Year.” So reads the headline of an article on pjmedia.com on March 17 by Tyler O’Neil. Despite? As regular readers of my posts know, I NEVER blame a writer for a headline if I don’t know that the writer supplied the headline. In this case, though, it doesn’t matter because here’s how Tyler O’Neil starts his article: Despite President Donald Trump’s best efforts, economic freedom in the U.S....

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Memo to President Trump: Cut Tariffs Not Interest Rates

As the stock market reeled, the Federal Reserve cut rates by 50 basis points this week. It was the first time the Fed has cut rates between meetings since December 2008, when it made a similar move in response to the financial crisis. But that wasn’t enough for President Trump. Immediately after the announcement, the president took to Twitter calling for more cuts.The Federal Reserve is cutting but must further ease and, most importantly, come into line with other countries/competitors. We...

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Investors Are Piling Into Safe Havens on Coronavirus Fears

U.S. factories rebounded strongly in February, suggesting the manufacturing recession may finally be behind us after the industry contracted for six straight months. The Philadelphia Fed Manufacturing Index jumped an incredible 20 points to 36.7, its highest reading since May 2017, while New York’s Empire State Manufacturing Survey rose more than eight points to 12.9, a nine-month high. We won’t get the Institute for Supply Management’s (ISM) U.S. manufacturing purchasing manager’s index...

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Peter Schiff: Nobody Should Be Taking Credit for the US Economy

Last week, Peter Schiff gave a speech at the Orlando Money Show and made the case that all the hype about the greatest economy in history is just that – hype. Nobody should be taking credit for the economy. We should be asking who is to blame. During his State of the Union Address, President Trump talked up the economy. He said we are now experiencing an economic boom, unlike anything the world has ever seen. But Peter said we have seen it before — just before he was elected during...

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Predicting Mitt Romney’s Vote on Impeachment

Earlier today, I was talking to a friend who’s a political junkie. He doesn’t like Trump but he’s against impeachment. (Aside: my friend’s argument was: (1) if you impeach Trump and fail, you strengthen him in the election, and (2) if you impeach Trump and succeed, you get President Pence.) I was telling my friend that I was fresh off watching Mitt Romney’s very moving 8-minute speech in which he stated why he would vote for the first article of impeachment. As I...

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Peter Schiff: Greatest Economy in American History? Nonsense!

Donald Trump was in Davos talking up the US economy in his typically hyperbolic terms. He called it “the greatest economy we’ve ever had in the history of our country.” To hear the president tell it, you would think that America is experiencing some kind of economic boom that has never been experienced by anybody in all of history. In his most recent podcast, Peter Schiff called this “nonsense.”Trump obviously knows nothing about American history. Because, to put the last three years in...

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Deal or No Deal? SchiffGold Friday Gold Wrap Jan. 17, 2020

Donald Trump and Chinese Vice Premier Liu inked their signatures on the Phase 1 trade deal this week. But was it really a big deal? Or was it no deal? Mike Maharrey talks about it on this week’s Friday Gold Wrap podcast. He also talks about why the gold market seems to be holding steady despite some strong headwinds and the outlook for the yellow metal in 2020.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful...

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