Category Archives: markets

“Stand for Something”

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Howard Silver, commissioner of the National Basketball Association, in the aftermath of a tweet by Houston Rockets General Manager Daryl Morey,said in a CNN interview cited by The Wall Street Journal‘s Notable & Quotable,

I think in this day and age, you really do have to stand for something[.]

This is after Rockets players apologized to the PRC for their GM’s tweet, Rockets owner Tilman Fertitta ran away from his GM’s tweet,

Listen….@dmorey does NOT speak for the @HoustonRockets.

and the NBA as a whole affirmed their preference for PRC money over honor.

The NBA really does have to stand for something.

Absolutely.  Except when the NBA comes in for opprobrium from the PRC over a tweet supporting the citizens of Hong Kong. Then the league and its players and team management cower down.

Stand for freedom for the citizens of Hong Kong? They can’t: there’s no headroom under the bed.

WTO, Tariffs, and the EU

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The WTO ruled in favor of the US regarding a 15-yr-old dispute over French subsidies of Airbus that directly harmed The Boeing Company, to the tune of $7.5 billion.  The ruling allows the US to impose those $7.5 billion as tariffs, and the Office of the US Trade Representative says that we’ll apply

a 10% tariff on aircraft imported from Europe and apply a 25% import tax on other agricultural and industrial items on October 18….

France says they’ll respond with retaliatory tariffs if we go through with this.  French Finance Minister Bruno Le Maire:

If the American administration rejects the hand that has been held out by France and the European Union, we are preparing ourselves to react with sanctions[.]

EU Trade Commissioner Cecilia Malmstrom agrees with Le Maire:

If the US decides to impose WTO authorized countermeasures, it will be pushing the EU into a situation where we will have no other option than do the same[.]

Couple things about that.  One is that the US has already proposed both no-tariff-at-all and no-tariffs-on-autos trade régimes, but the EU has refused to discuss either, despite then-European Commission President Jean-Claude Juncker’s promise to take the matters up.

The other thing is that, under WTO rules, it’s illegal to apply retaliatory tariffs in response to tariffs applied pursuant to a WTO judgment.  The French and EU threats regarding the WTO-permitted tariffs on the Airbus affair clearly demonstrate EU (and French) bad faith by themselves. Coupled, though, with the Eu’s refusal to discuss the no-tariff offers already on the table, it’s clear that the EU has no intention at all in dealing honestly with us on trade.

Our own effort at good-faith negotiation is just as clear:

The WTO had approved up to 100% tariffs, but the US decided to limit the tax.

Raise the Price

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…of a product, and with that, lower demand for it.  This is the sort of thing taught in high school introductory economics courses.  One way to raise the price is to raise taxes related to it, and to reduce tax deductions related to it.

The Manhattan real estate market [a generally hgh-end market] stumbled in the third quarter of 2019, new reports show, as prices plunged and fewer buyers were willing to purchase higher-priced properties in the wake of two recent tax increases.
The median sales price for properties fell 17% from the same quarter last year…. The average sales price dropped 12%….
Condo sales fell 8%….

Maybe this had something to do with it:

In July, New York City increased its mansion tax—a progressive tax that applies to home sales of more than $1 million—to a maximum of 3.9%, up from a flat-rate of 1%. The tax rates vary from 1.25% for $2 million sales, to 3.9% for sales of $25 million and higher. The city also increased a one-time charge on properties worth more than $2 million—known as the transfer tax.

And maybe the $10,000 cap on state and local tax (SALT) imposed by the 2017 tax reform bill is having an impact.

More on Free Speech

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Here’s another example of Progressive-Democrats and Party’s Presidential candidates objecting to free speech.

Senator [and Progressive-Democratic Party Presidential candidate] Kamala Harris said on Monday night that President Trump should have his Twitter account suspended over his tweets about the whistleblower whose complaint has helped launch an official House inquiry into his potential impeachment.

Trump’s terrible crime here? He expressed his desire to meet his accuser, a right all Americans have when accused of wrong-doing.

She went on, paraphrased by Fox News:

Harris said Trump’s latest tweets, in which he called the whistleblower “close to a spy,” is evidence that he is “irresponsible with his words in a way that could result in harm to other people.”
“The privilege of using those words in that way should probably be taken from him,” she added.

Of course, no harm can result “to other people” from such remarks.  Except in the fetid imaginations of the Left.

A President talking directly to ordinary Americans, bypassing the NLMSM Gateway and Party-approved mechanisms—how terrible.

Free Speech

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We’re beginning to see more of the value system that the most progressive candidate of them all, Progressive-Democratic Party Presidential candidate and ex-Vice President Joe Biden, wants to impose on all of us.  His campaign team, led by Anita Dunn (one of ex-President Barack Obama’s early White House Communications Directors) and Kate Bedingfield (Biden’s 2015 Communications Director) of Biden for President, have written to

executives and top political anchors at ABC, CBS, CNN, Fox News, and NBC, including star interviewers like Jake Tapper, Chuck Todd, and Chris Wallace

to demand all of them cut Rudy Giuliani out of his ability to speak to us ordinary Americans via those widely disseminated and watched programs.

We are writing today with grave concern that you continue to book Rudy Giuliani on your air to spread false, debunked conspiracy theories on behalf of Donald Trump.
Giving Rudy Giuliani valuable time on your air to push these lies in the first place is a disservice to your audience and a disservice to journalism

This is as clear an expression of the contempt in which members of the Progressive-Democratic Party hold us ordinary Americans.  Plainly, they think us just too grindingly stupid to decide for ourselves what we’ll listen to or how to think about what we hear, including whether Giuliani’s comments really are false, debunked conspiracy theories.  Or whether it might be Biden, et al., who are distorting the facts.  Biden, with this letter that The New York Times go hold of, has made that contempt explicit.  Again.

Much worse, though, is that this is a demonstration of the overall nature of free speech that the Biden the Presidential candidate is pushing.  Think about the breadth and depth of his assault on our freedom of speech that a Biden administration would inflict on our nation.

NYT provided these images of the Biden team’s letter.