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So Why No Economic Recovery? Avaricious Government and Hesitant Entrepreneurs.
The Federal Government’s wasteful spending, institutional meddling, and taxpayer plundering is giving us hesitant entrepreneurs. Robust job growth requires boldness and risk-taking in the private sector. What we have now is boldness and risk-taking in the public sector. It is loading as much debt onto the balance sheet as possible, and creating the [...]
Continue reading...A New Look at Cash for Clunkers Confirms what Stimulus Programs do – Nothing (but Harm)
2. June 2010
From the Coyote Blog, see the graph below. Stimulus funds just create purchases now that will be forgone later. And they subsidize the purchases with tax funds or debt, basically transferring funds from one person to another for no good reason (other than buying votes, of course). The dotted line simply averages the sales for the [...]
Continue reading...Cash for Clunkers update – predicted failure now *fully* confirmed even more than previously
23. March 2010
Not to toot our own horn, but, toot toot. Graph from the American Thinker, Care Sales ($millions) Reported by Dealers.: Cost to taxpayers for each extra car sold because of Cash for Clunkers: $20,000 Number of clunkers turned in (and taken out of the market): 677,081 Price increase for used cars since CfC: 13.7% Change in [...]
Continue reading...Cash For Clunkers is a Modern-Day Version of the Broken Window Fallacy
3. August 2009
Cash For Clunkers is an economically unsound program that will only make the American economic situation worse. It transfers wealth from one group of people to another while simultaneously destroying real wealth and misallocating scarce capital away from its best use. To understand why this is, you need only understand the Broken Window Fallacy.
Continue reading...Historical Revisionism Alert! Who you gonna believe, me or your lying eyes?
16. July 2009
From Hot Air: New White House spin: Stimulus not designed to … stimulate ABC Reports today that White House spokesman Robert Gibbs said at a briefing Thursday, The $787 billion “American Recovery and Reinvestment Act” (AARA) was not designed for full economic recovery, but rather to “stabilize” the downturn. That’s the word from White House officials today, who [...]
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18. June 2010
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