Massachusetts’ Native American Senator Elizabeth Warren Objects

The Democrat from Massachusetts is saying that

House Republicans were threatening to shut down the government if they didn’t get a chance to repeal part of the 2010 Dodd-Frank law.

What Warren objects to is a provision in the proposed House funding bill—which funds the entire government, mind you—that would “undo the Dodd-Frank provision that prohibited bank units within the federal financial safety net from betting on derivatives.” This is critical because only Progressives like Warren know how to run a bank, or any other private enterprise. We’re seeing today how well government-run (VA) hospital businesses are doing, how well government-directed medical practices are working out, how well government-mandated health coverage plan businesses are doing.

Obamacare and Doctoring

If you liked your doctor, you could keep your doctor. Maybe. If you were lucky, and your Obamacare Plan still had him on its cut-rate, cut-service list of acceptable (to the government) doctors.

Or, if you like the hospital that now employs him (which doesn’t guarantee you get to see him; the hospital will make that decision). After all, the government’s Obamacare

architects believe that doctors, to better bear financial risk, need to be part of larger, and presumably better-capitalized institutions.

Meanwhile

I wrote earlier about one small subset of regulatory barriers to US investment. Here’s another side.

The Australian Business Review headline pretty much tells the story, and they stand in sharp contrast with the burgeoning US regulatory environment.

Indonesian President Joko Widodo Pledges to Cut Investment Barriers

And the lede:

The new leader of the world’s fourth-largest nation promised to move aggressively to lower barriers to investment and overcome decades of unmet potential that have left Indonesia lagging behind more dynamic Asian nations.

Recognizes the man himself:

…we need investment, we need investors, to boost our economic growth….

More Thoughts on Minimum Wage

And actual data. Econbrowser pointed out a quasi-controlled study by PhD candidate Michael Wither and Professor Jeffrey Clemens that compared populations of workers in states that had minimum wage laws with higher minimum requirements than Federally passed wage requirements at the time the Federal legislation was enacted with populations of workers in states that did not. They also compared populations of workers starting out with wages higher than the new mandates with populations of workers with wages lower than the new mandates (workers with wages less than $7.50/hr and workers with wages between $7.50 and $10.00 at the time of a then-newly Federally mandated minimum wage of $7.25) over the three years following the Federal mandate.

Maybe That’s The Point

Banks are urging some of their largest customers in the US to take their cash elsewhere or be slapped with fees, citing new regulations that make it onerous for them to hold certain deposits.

The banks, including JP Morgan Chase & Co, Citigroup Inc, HSBC Holdings PLC, Deutsche Bank AG, and Bank of America Corp, have spoken privately with clients in recent months to tell them that the new regulations are making some deposits less profitable

And

The change upends one of the cornerstones of banking, in which deposits have been seen as one of the industry’s most attractive forms of funding….

Who’s the Rape Victim in the “Jackie” Story?

University of Virginia President Teresa Sullivan suspended until January the entire fraternity system at UVA. She did it on the basis of a newspaper story whose author—Sabrina Rubin Erdely—and which paper’s editor—Will Dana—consciously and openly stated that they had done nothing to fact check the claims made by this “Jackie” person and which Erdely published.

On the heels of that, we get Zerlina Maxwell writing in another newspaper article headlined

we should generally believe rape claims

That headline, incidentally, originally appeared in the online edition as automatically rather than generally, but apparently The Washington Post thought it better to weasel-word things a tad. What Maxwell said in the body of her article, though, remains unaltered:

An Excuse to Stall?

In a city with a history of denying Americans their gun rights?

[Washington, DC] does not know how long it will take to process those requests [for concealed carry licenses].

“There’s no internal guideline for how long the process should take at this point,” DC police Lieutenant Sean Conboy told a Free Beacon reporter today.

Yeah. Because in the six years since DC v Heller and the four years since McDonald v Chicago and the two years since the Seventh Circuit’s Moore v Madigan gave a strong hint, it’s unreasonable for the DC cops to figure out how to assess and issue CCWs.

YGTBSM

In the aftermath of “Jackie’s” claim of being a gang-rape victim at the University of Virginia (has the school reinstated the fraternities, by the way?) falling apart under the weight of her lies, we get this from Zerlina Maxwell, of The Washington Post, a woman who represents herself as an actual lawyer, as well as a writer of newspaper articles.

This is what we mean in America when we say someone is “innocent until proven guilty.” After all, look what happened to the Duke lacrosse players.

More Thoughts on European Taxation

This time British Prime Minister David Cameron (he of the possible immigration awakening) and British Chancellor George Osborne have them. They’re touting a

diverted-profits tax, would hit multinational companies with a 25% tax rate on any profits earned from activity in Britain that the company attributes to a subsidiary based in a lower-tax jurisdiction. Since the rate is higher than Britain’s normal 21% corporate tax rate, Mr Osborne clearly is hoping companies will stop so-called revenue shifting and pay regular taxes instead.

As The Wall Street Journal put it in their op-ed at the link above,

Thoughts on European Inflation and Tax Policy

Michael Heise, Chief Economist at Allianz SE, had some in his op-ed in The Wall Street Journal, but I want to focus on just a couple, for the mindset implied as he—and Europe’s politicians—address inflation and tax policy.

They [tax and ultralow-interest rate policies] encourage risk taking among investors searching for yield, potentially leading to malinvestment. They affect the distribution of income and wealth between the less affluent, who are most affected by low returns on bank deposits, and the wealthier, who tend to benefit most from rising share prices. Finally, perhaps most important, ultralow interest rates discourage savings for retirement and slow down the growth of existing pension assets.