Category Archives: Economics

Business, Economics, Media Criticism, Political Commentary, Popular Culture

On-The-Job Training

August 7, 2017 Rand Simberg 47 Comments

Over half a year in, the Trump administration is learning that running the US of A is not like running a business (particularly like a business in New York or New Jersey, rife with graft):

…unfortunately, there are so many bills that have piled up and commitments we have made that if we don’t raise the debt ceiling that it’s not fulfilling obligations the United States has offered. I would welcome an opportunity to see a debt-ceiling package that included spending cuts as well. I think there’s some that advocate for that, but I think more likely what we will see is a clean debt ceiling for right now, so that’s probably an issue that will be addressed in the future,” he added.

Actual budget cuts, or even the fake ones that merely reduce the increase in the rate of growth, are the projects of the future, and they always will be. At least until we run out of other peoples’ money, as Venezuela just did.

And in the Department of Duhhhh…

“I think one of the lessons learned from the healthcare debate is that did not happen, and so therefore a lot of conservative groups were splintered as the bill came out of the House, which I think left us at a deficit trying to earn back their support over time. And I don’t mean to deflect responsibility for that because that was on all of us, but that bill was moving long before we were ever inaugurated,” he said.

“I think our relationship with the Hill is shared as well, that one of the lessons learned is to make sure we are doing that sort of outreach before we launch a project…”

If only we’d elected someone who actually understood how government works, and who’d at least read the Constitution and respected the rule of law.

And in this, of course, we have another parallel with Barack Obama.

Business, Economics, Political Commentary

Employing People In California

August 4, 2017 Rand Simberg 5 Comments

It really is harder. It’s a consistent winner of worst state in which to do business. Patricia was thinking about doing a franchise, but the thought of being an employer here is frightening to me.

Business, Economics, Technology and Society

Hyperloop

August 4, 2017 Rand Simberg 1 Comment

Is Elon planning to get back in the game?

Business, Economics, Education, History, Media Criticism, Political Commentary

Venezuela

August 2, 2017 Rand Simberg 2 Comments

Remember all those left-wing pundits who drooled over Chavez?

Chavez’s untimely death from cancer in 2013 saw an outpouring of grief from the global left. The caudillo “demonstrated that it is possible to resist the neo-liberal dogma that holds sway over much of humanity,” wrote British journalist Owen Jones. “I mourn a great hero to the majority of his people,” said Oliver Stone, who would go on to replace Chavez with Vladimir Putin as the object of his twisted affection.

On the Venezuelan regime’s international propaganda channel, Telesur, American host Abby Martin — who used to ply her duplicitous trade at Russia Today — takes credulous viewers on Potemkin tours of supermarkets fully stocked with goods. It would be inaccurate to label the thoroughly unconvincing Martin, who combines the journalistic ethics of Walter Duranty with the charm of Ulrike Meinhof, a useful idiot. She’s just an idiot.

Brutal, but fair.

[Update a few minutes later]

Venezuela’s slide toward civil war. Unfortunately, the government confiscated the weapons (which many on the Left would love to do here, if they could pull it off). So unless we smuggle some in to them, the war won’t end well for freedom.

[Update a while later]

An AP reporter finally leaves the country:

In the early days, the shortages seemed almost whimsical. My Venezuelan friends were used to going on Miami shopping sprees. When I made trips home, they asked me to bring back perfume, leather jackets, iPhones and condoms. I usually took two near-empty suitcases to carry back the requests, plus food and toiletries for myself. As the crisis deepened, the requests became harder to fill, and traced the outlines of darker personal dramas: Medication for heart failure. Pediatric epilepsy drugs. Pills to trigger an abortion. Gas masks.

And things were still somehow getting worse. The first time I saw people line up outside the bakery near my apartment, I stopped to take photos. How crazy: A literal bread line.

Then true hunger crept into where I lived. People started digging through the trash at all hours, pulling out vegetable peelings and soggy pizza crusts and eating them on the spot. That seemed like rock bottom. Until my local bakery started organizing lines each morning, not to buy bread but to eat trash.

This is the end state of socialism. They ran out of other peoples’ money.