You are browsing the archive for 2015 August 05.

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The Donald on the Fed

August 5, 2015 in Economics

By Joseph T. Salerno

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The Donald on the Fed

August 5, 2015

In his Economic Viewpoint memo yesterday, Brendan Brown,  Executive Director and Chief Economist of Mitsubishi UFJ Securities International, surveyed the crowded field of prospective Republican Presidential nominees on the subject of radically reforming the Fed…

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Source: MISES INSTITUTE

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Curses: I Missed This One

August 5, 2015 in Economics

By Mark Thornton

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Curses: I Missed This One

August 5, 2015

The Skyscraper Curse Hits South America!

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Source: MISES INSTITUTE

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Puerto Rico's Default and the Role of the Central Bank's War on Savers

August 5, 2015 in Economics

By Ryan McMaken

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Puerto Rico’s Default and the Role of the Central Bank’s War on Savers

August 5, 2015

Puerto Rico failed to meet a $58 million debt repayment deadline Monday, triggering one of the most significant municipal bond defaults in U.S. history.

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Source: MISES INSTITUTE

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Here's the Lowdown on Who Supports Donald Trump

August 5, 2015 in Economics

By Emily Ekins

Emily Ekins

Donald Trump continues to make waves as his poll numbers surge to the top of the GOP pack. Both the latest CNN/ORC and Public Policy Polling (PPP) polls find Trump leading with 19 percent of Republican voters. An ABC/Washington Post poll that includes “leaners” finds Trump with as high as 23 percent of the GOP vote. Furthermore, Trump’s surging favorability ratings from 38 percent in June to 53 percent in July among Republicans has fully caught the media’s attention.

Who are these Trump supporters? Which Republican voters have so quickly coalesced around his candidacy? Have his controversial comments suggesting most unauthorized immigrants from Mexico are criminals, drug dealers, and rapists alienated Hispanic voters? Has his aggressive rhetorical style appealed more to men or women?

Polling data reveal that Trump supporters are more likely to be male, white, older, with less education—but they are not more likely to be right-wing.

Donald Trump’s Male Advantage

It’s unclear if Trump supporters will remain loyal once he is eventually forced to propose his actual policy prescriptions.”

Multiple polls show Trump does better among men than women. For instance, a Fox News poll finds that among likely Republican primary voters, 23 percent of men want Trump as the GOP nominee compared to 13 percent of women. CNN/ORC finds nearly identical numbers.

Among all Americans, CNN/ORC finds men (39 percent) are 12 points more likely than women (27 percent) to have a favorable view of Trump overall (YouGov and PPP find a similar gender gap). Trump’s GOP competitors have a narrower gender gap, of 5 to 7 points.

CNNFox, and ABC/WashPo polls reveal that Americans with more education are less likely to support Trump’s presidential candidacy. Most strikingly, the ABC/WashPopoll finds only 8 percent of college-degree-holding Republican voters plan to vote for Trump, compared to 32 percent of Republican voters without college degrees. Moreover, those with college degrees (56 percent) are about 6 points more likely to believe that Trump is wrong about immigration compared to those without college degrees (50 percent), the Fox poll finds.

Despite Trump’s own personal wealth, and frequent discussion of it, polls don’t uncover consistent differences between modest-income and high-income households in Trump favorability ratings.

Hispanics Hate Donald Trump

Predictably, Hispanics have soured on Trump, and white Americans remain more supportive of him than non-white Americans. An ABC/WashPo poll finds that Trump’s unfavorability ratings among Latinos have soared from 60 percent …read more

Source: OP-EDS

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A Solution Worse than the Problem

August 5, 2015 in Economics

By Paul C. "Chip" Knappenberger

Paul C. “Chip” Knappenberger

In introducing his Clean Power Plan on Monday, President Barack Obama used inspirational language to describe the impacts of limiting carbon dioxide emissions from fossil fuel-powered electric generating facilities. From mitigating climate change, to improving public health, from increasing jobs to lowering electric bills, from ensuring national security to leading to way into the future, the benefits seemed endless.

If this government program sounds too good to be true, it is. To say Obama oversold his plan is putting it gently.

When it comes to climate change, the Clean Power Plan is a non-starter. Climate change in the 21st century is going to be driven by carbon dioxide emissions from the world’s developing nations as they strive to meet the basic energy demands of their current and future populations — 1.3 billion of whom have no access to electricity at all, much less an adequate supply. In already developed nations, like the U.S. and Western Europe, where energy needs have largely been met, future projections don’t foresee significant emissions increases. Consequently, when it comes to future climate change, the contribution from developing nations will outweigh that from developed nations by about 10 to 1.

Even if we implement the Clean Power Plan to perfection, the amount of climate change averted over the course of this century amounts to about 0.02 C. This is so small as to be scientifically undetectable and environmentally insignificant. The plan will have little impact on warming, no impact on the future character of extreme weather events, and will it certainly do nothing on national security.

Creating jobs and stimulating economic activity by breaking windows is a readily falsifiable economic premise.”

What about public health? Obama claimed this plan would drastically reduce “nationwide asthma rates,” among other impressive health benefits. In fact, the vast majority of the public health benefits touted by Obama are not a direct result of carbon dioxide emissions, but rather “co-benefits” from reductions of other substances that are emitted when fossil fuels are burned. And here’s the kicker: These pollutants are already being covered by existing Environmental Protection Agency regulations and so their control is not dependent on the Clean Power Plan. Essentially, the president is double-counting these benefits to make the Clean Power Plan seem better than it is.

If there are little no climate change benefits, then the president is effectively throwing a wrench in the nation’s current energy …read more

Source: OP-EDS