Category Archives: markets

Anti-Business Anti-Freedom Left Strikes Again

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Their latest assault comes from left-of-the-west-coast Los Angeles.

The city of Los Angeles will begin requiring most people to provide proof of full COVID-19 vaccination before entering a wide variety of indoor businesses including salons, restaurants, gyms, museums, and theaters.

Alternatively, those with medical conditions that do not allow them to be vaccinated, or those with sincerely held religious beliefs that prevent them from being vaccinated, will be allowed to enter on presentment of a negative Wuhan Virus test done within the prior 72 hours (whose definition of “sincerely held?”). Never mind that the cost of such a test starts at $20 and that the median cost is $127. And you thought the costs at the theater concession counter were high. How’s that blowout or updo at the salon sound now? The testing requirement looks like it’s going to swamp that dinner out you thought you were going to enjoy with the family.

Notice, too, that many—most?—of the businesses in these categories are small businesses, mom-and-pop businesses, low margin businesses.

This isn’t only an assault on American businesses and American business owners, though: it’s also an assault on Americans qua Americans.

It’s a demand that we citizens give up our medical privacy and proclaim to the world what our medical status is, using only the Wuhan Virus situation—which is on the wane—as an initial step to expose all of our medical privacy.

It’s more than that, even. This vaccine mandate, and others like it, are a demand that we citizens give up an essential liberty—a liberty over which we’ve already fought one civil war—our control over our own bodies. It’s an essential liberty that the Left and its Progressive-Democratic Party are trying to take away from all of us this time, not just a minority which they held and hold in contempt.

PRC Pyramids

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The Egyptians invested in pyramids, but those were concrete, physical edifices that satisfied then-national needs.

The People’s Republic of China and its builders invested in a different sort of pyramid, and those ephemeralities are fading into the mists at great cost to the suckers investors.

First, it was the PRC’s Evergrande, with its serial defaulting on its debt obligations. Now it’s the PRC’s Fantasia, reneging on $US206 million worth of its own bonds. It seems likely that others of the PRC’s builders will follow, unless the PRC government men decide to interfere and require different outcomes, regardless of economic and fiscal reality.

I mentioned pyramids. These builders finance their future operations in very large part by selling apartments before they’re even built. That puts their borrowings at risk, unless they can come up with more money—which they do in large party by selling yet more unbuilt apartments.

Bernie Madoff, if not exactly a piker in comparison, certainly didn’t accomplish this much.

“Unfair and Absurd”

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President Joe Biden (D), through his Press Secretary Jen Psaki (via her daily press conference), said that it’s unfair and absurd that businesses should pass on to their customers the costs represented by higher taxes that Biden and his fellow Progressive-Democrats want to impose on them.

There are some…who argue that, in the past, companies have passed on these [tax] costs to consumers. … We feel that that’s unfair and absurd, and the American people would not stand for that.

Why shouldn’t businesses pass on the costs represented by taxes?

Biden’s claim raises additional questions, too. What other costs does Biden consider unfair and absurd for businesses to pass on to their customers? What is Biden’s limiting principle regarding passing costs on to customers?

Worrying about the Wrong Time Frame

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A Wall Street Journal opinion piece subheadline well summarizes the piece itself:

the Speaker pushes Democrats to take votes that will end careers in 2022

The WSJ‘s Editors write this as if they take the matter seriously. But they, and far too many others who also should know better, are taking far too short a view.

“Career ending” votes were taken in favor of Obamacare, too. Obamacare survives, and here is the Progressive-Democratic Party back in power.

So it will be with the Progressive-Democrat reconciliation bill and the pre-amendment to it that is the “infrastructure” bill. A few Progressive-Democrats might lose their seats as they vote to force passage, but these two destructive bills will live on.

And, dangerously, the Progressive-Democratic Party will recover.

Affordable Housing

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People’s Republic of China style.

The PRC is cracking down on excessive debt in the country’s housing industry, or so it claims. The government also claims it wants

to lower inequality and keep housing affordable for the masses.

But it just blew up 15 high rise apartment buildings. Those were already built, their cost sunk. Those complexes could have been at the core of the Communist Chinese Party’s claim of affordable housing.

Oh, wait—nobody wanted to live there.

That’s centrally planned economics in action. And a lesson for us, were our politicians interested in learning.