Category Archives: Economics

Miscellaneous economy stuff

Another Progressive-Democrat State Government…

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…favors illegal aliens over its citizens. New York is opening State government jobs to illegal aliens.

New York is allowing migrants with federal work authorization to apply for thousands of temporary government jobs, [Progressive-]Democratic Governor Kathy Hochul said.

And

I have 10,000 openings in the New York State workforce. These are all legal people.

They’re legal only in a very narrow, legalistic sense. They’re illegal aliens who’ve been—wrongly, I claim—granted temporary work permits.

Hochul also is lowering the requirement to have at least a minimal education, a minimal English language proficiency, and appropriate certifications as criteria for getting these jobs. In sum, she’s extending diversity hire ideology to include illegal aliens.

This is a preview of Another Progressive-Democrat State Government…. Read the full post (191 words, estimated 46 secs reading time)

Eric Adams’ Duplicity

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Or it’s the incompetence of New York City’s Progressive-Democratic mayor, Eric Adams.

After warning that a surge in illegal arrivals to the Big Apple would “destroy New York City” and blaming the influx for prompting budget cuts, New York City Democratic Mayor Eric Adams reportedly plans to provide illegal alien families with pre-paid credit cards.

A key aspect of Adams’ scheme:

The plan will begin with a $53 million pilot program targeting the migrant residents of the Roosevelt Hotel. Run through Mobility Capital Finance, the pilot plan will provide 500 families with an Immediate Response Card for use on food and infant care supplies.

This is a preview of Eric Adams’ Duplicity. Read the full post (330 words, 1 image, estimated 1:19 mins reading time)

More Reasons to Disband

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Now the Biden administration is actively seeking to undermine our friends and allies on top of destroying our energy industry.

The White House on Friday announced a temporary pause on pending decisions of exports of liquefied natural gas to non-free trade countries, until the Energy Department can factor climate change into its reviews of the projects.

Two changes (for starters) are badly needed, and these changes badly need significant majorities in the House and Senate and a Republican in the White House (which puts a premium on the elections this fall).

This is a preview of More Reasons to Disband. Read the full post (332 words, estimated 1:20 mins reading time)

India vs PRC

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The Wall Street Journal has an interesting piece comparing the People’s Republic of China’s economic future with India’s. In the second paragraph (the semi-lede?), there’s this:

The country’s population surpassed China’s last year. More than half of Indians are under 25.

A couple of graphs from the CIA World Factbook put the two nation’s population structures in sharp relief, and at this stage of the two nations’ economic development, those structures are their future.

This is the structure of India’s population (scroll down a skosh):

This is the structure of the PRC’s population (again, scroll a tad):

This is a preview of India vs PRC. Read the full post (215 words, 2 images, estimated 52 secs reading time)

Bank Capital Requirements

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The Federal Reserve is looking hard at increasing the amount of capital that banks must hold in the Fed’s effort to boost bank liquidity, or their ability to handle sharply increased withdrawal rates.

There is pushback against this proposal, including objections that it might make it harder for banks to lend to folks on the lower economic tiers, even that it might make American banks less competitive than foreign competitors. That last often (not always) is just political Newspeak for “be more like Europe.”

However, the problem can be preempted—or at least pushed a considerable way down the road, allowing for more thought—by doing something different that IMNSHO is a better move, anyway.

This is a preview of Bank Capital Requirements. Read the full post (233 words, estimated 56 secs reading time)

You’ve Formed Your Opinion on EVs. Now Let Me Change It.

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That’s the headline on Dan Neil’s Wall Street Journal paeon to the battery-powered car. In his piece, he acknowledges the past and current shortcomings of Electric Vehicles, but he lays those off to car company marketing rather than to actual performance.

My mind isn’t as made up as Neil’s headline implies; nevertheless, challenge accepted.

I drove a Ford Fusion Hybrid for a number of years, and it was a fine car. However, the battery price premium was enormous, and the reduction in trunk capacity to make room for the battery was just as enormous.

This is a preview of You’ve Formed Your Opinion on EVs. Now Let Me Change It.. Read the full post (395 words, estimated 1:35 mins reading time)

Probably Won’t Be Invited Back

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Newly elected Argentina President Javier Milei was invited to the World Economic Forum. He had some things to say while he was there.

Today I’m here to tell you that the Western world is in danger. And it is in danger because those who are supposed to have defended the values of the West are co-opted by a vision of the world that inevitably leads to socialism and thereby to poverty[.]

And

This is a preview of Probably Won’t Be Invited Back. Read the full post (445 words, estimated 1:47 mins reading time)

Western Battery-Car Adoption Anxiety

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The Wall Street Journal ran an article centered on how “western anxiety about Chinese EVs could prove self-defeating,” with a subheadline that summarized the thesis:

The US and Europe risk slowing electric-vehicle adoption by excluding Chinese suppliers from subsidies and raising tariffs

I have a hard time seeing the downside to slowing battery car adoption. Leave aside the tremendous drain that charging all those battery cars (assuming widespread adoption) would have on our already near or at capacity electric power grid and generating capacity for that grid.

This is a preview of Western Battery-Car Adoption Anxiety. Read the full post (343 words, estimated 1:22 mins reading time)

Punishing Success

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Los Angeles has decided that the successful are too successful, and they must be knocked down. To that end, the city’s government has decided to tax the sales proceeds of the wealthy’s homes at 4% on homes sold for $5-$10 million and at 5.5% on homes sold for more than $10 million. This is on top of the real estate brokers’ ordinary 6% fee, and it’s paid by the buyer. Not that that will have any impact on the seller’s ability to sell at a fair price, or anything.

This is a preview of Punishing Success. Read the full post (360 words, estimated 1:26 mins reading time)

Nanny State in Automobiles

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Tesla is recalling a double potful of its cars over autopilot performance.

A Wall Street Journal analysis of dashcam footage and data from a crash in Texas in 2021 shows Tesla’s Autopilot system failed to recognize stopped emergency vehicles.

That sort of thing wants correction, certainly.

However, the larger problem is this:

Tesla will recall more than two million vehicles over concerns its Autopilot system can be misused by drivers[.]
…
Tesla’s Autopilot system may not have sufficient controls in place to prevent driver misuse, [National Highway Traffic Safety Administration] said.

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