The Unbearable Burden Of Tariffs
The real damage that tariffs cause is not just the destabilization of stock markets. It is the real burden it will place on businesses and ultimately consumers.
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The Nobel Prize Honors Innovation
Today, the Nobel prize was awarded to three economists for their decades of contributions to understanding how technological progress has transformed societies over the past two centuries, lifting billions out of poverty, improving health, and raising the overall standard of living.
Why Musk Won’t Save Us
In our democracy there’s a huge incentive for people to vote for benefits (money, credit, patronage) they do not have to pay for. These incentives create huge inefficiencies in our economy. Thus, Porter writes, it’s unlikely Elon Musk or anyone will be able to reduce government spending – and Social Security will disappear.
The Coming Tariff Insanity
Porter reminds readers of the tariff, enacted more than 100 years ago, that decimated farmers and that set in motion the economic forces that led directly to the Great Depression. Sadly, he says, the current administration seems not to have learned from what history taught us.
Trump To The Rest Of The World: Drop Dead
A president threatening to set up a second revenue agency for the federal government isn’t good news. It’s horrifying, Porter reports, on the news that the incoming Trump administration has proposed an External Revenue Service.