Immigration—Whose Rights?

Here’s Mexican Secretary of Economy, Ildefonso Guajardo, on the question of whether NAFTA should be renegotiated:

Logically, there wouldn’t be incentives to continue collaborating on the issues most important to national security in North America, such as the issue of migration[.]

And this:

[T]he Trump administration’s effort to step up deportations have already prompted an aggressive campaign by some Mexican officials, governors and public figures to fight the policy by jamming up US immigration courts.

That particular bit of business has been noted earlier.

The Left Gives the Game Away

Again.  Buried at the bottom of a Wall Street Journal piece on the auto industry’s effort to get the Obama administration’s last-minute (almost literally) attempt to make permanent fuel standards (also last minute because the underlying research wasn’t even going to be complete until 2018) is this rationale from Roland Hwang, at the National Resources Defense Council’s Director, Energy & Transportation Program, as paraphrased by the WSJ.

relaxing standards could hurt Americans depending on clean-car technology jobs.

Because EPA regulations are all about creating jobs and not about mitigating pollution.

Foolish

Bill Gates, the co-founder of  Microsoft and world’s richest man, said in an interview Friday that robots  that steal human jobs should pay their fair share of taxes.

He said, and he was serious,

Right now, the human worker who does, say, $50,000 worth of work in a factory, that income is taxed and you get income tax, Social Security tax, all those things.  If a robot comes in to do the same thing, you’d think that we’d tax the robot at a similar level.

Federal Funds and Sanctuary Cities

Within days of President Trump’s executive order to crack down on so-called sanctuary cities, San Francisco had filed a lawsuit opposing the order [to block federal funding for them]….

We also have this regarding…coercion…by the Federal government.

Last year, a federal judge in Illinois ruled that it was unconstitutional for the Department of Homeland Security to force local jails to detain suspected undocumented immigrants without a warrant. And in a 1997 Supreme Court decision, Printz v US, a 5-4 majority held that the federal government “may neither issue directives requiring the States to address particular problems, nor command the States’ officers, or those of their political subdivisions, to administer or enforce a federal regulatory program.”

A Thought on a Thought on Bank Reserves

Neel Kashkari, President of the Federal Reserve Bank of Minneapolis and active member of the Federal Open Market Committee, had the thought that’s the object of my thought in a recent op-ed in The Wall Street Journal.

…increase capital requirements on the biggest banks—those with assets over $250 billion—to at least 23.5%. It would reduce the risk of a taxpayer bailout to less than 10% over the next century.

No.  Have the banks publish their reserve holdings and the total of the loans outstanding in their portfolio together with the per centages of the latter that are current, late, or in default.  Let each bank’s creditors—depositors and other lenders—and investors make their own assessments of the bank’s viability.  Government need not be involved.

A Terrible Nightmare for Bureaucrats

Here’s Joe Pizarchik, ex- Office of Surface Mining Reclamation and Enforcement Director in the Interior Department, for all of the Obama years:

My biggest disappointment is a majority in Congress ignored the will of the people.  They ignored the interests of the people in coal country, they ignored the law and they put corporate money ahead of all that.

Wow.  Just wow.  Because the people, exercising their will in electing the majority of Congress—all the members of Congress, come to that, every single one of them—had their will ignored when the majority that they elected executed on their will by rejecting a bad regulation.

Another “Drop Dead” Moment for New York City?

That was The New York Daily News‘ cynical characterization of President Gerald Ford’s refusal to waste taxpayer money on the city’s profligate irresponsibility with its own budget and spending habits.  Is Mayor Bill de Blasio (D) exposing New York City to another round of badly needed tough love from the Federal government?

One New York City Council member wants to expand a summer jobs program for youth.
Another is seeking millions to push the city’s bike-share program deeper into poor neighborhoods.
And another wants to increase funding to legal services for immigrants and adult literacy programs.
Such is budget season at City Hall, where the budget is expected to grow substantially for the fourth year in a row, to some $84.67 billion, up from about $70 billion for fiscal year 2014….

A Carbon Tax Proposal

No less a pair of lights than George Shultz and James Baker III have one regarding atmospheric carbon emissions.  They’re prefacing their case on their then-boss, President Ronald Reagan’s successful negotiation of the Montreal Protocol to rein in the failures of atmospheric CFCs that were destroying the ozone layer.  Not that the two have anything to do with each other, but it makes for good obfuscation.

Shultz and Baker have four “pillars” to their proposal:

A National Parental Leave Policy

AEI has a piece on this; unfortunately, their piece proceeds from some false premises.

Developing a National Paid Parental Leave Policy

It’s interesting that folks of a bent proceed from such claims. They always decline to establish, for instance, that we need a national policy for parental leave. It’s such a widespread failure that I have to conclude it’s deliberately Alinsky-esque in its attempt to control the discussion.

The United States is one of two countries without a national policy providing new mothers with rights to paid leave following the birth of a child.

The Noise of Freedom

European Central Bank President Mario Draghi is worried.  The European is afraid of any relaxation of banking regulations in the US; it might cause some instability.  Never mind that instability is a Critical Item for innovation and growth, whether economic, political, technological, or anywhere else.  As he testified before the European Parliament Committee on Economic Affairs,

The last thing we need at this point in time is the relaxation of regulation….

The fact that we are not seeing the development of significant financial stability risk is the reward of the action that legislators and regulators and supervisors have been undertaking since the crisis erupted[.]