John A. Parnell, Ph.D.
Economics and rational thinking eventually run into political reality. If we weren’t there before the President’s speech on Wednesday, we are now. Obama’s attempt to revive his quest for government control of the healthcare system was nothing more than a massive sleight of hand. I posted some initial observations on this blog shortly after the […]
Read MoreThe U.S. dollar has fallen to its low for the year. Anticipating a recovery, many investors are moving from relatively safe dollar-based securities back to stocks. With the Fed keeping interest rates artificially low and the possibility of further declines in the dollar, investing in the U.S. currency is not very attractive. How will this […]
Read MoreObama’s health care initiative is in trouble. Leftists are unwilling to support any proposal that does not include a government option, and moderate Democrats are backing away from any proposal that does. In his search for some sort of middle ground, the President will likely repackage the public (government) option as a co-op or partnership. […]
Read MoreSometimes things just don’t add up. The White House just revised its budget deficit projection for the next 10 years upward by $2 trillion—about $7K more for every man, woman and child in the U.S. The economy is now projected to shrink 2.8% this year, 1.6% higher than the previous guess. Meanwhile, President Obama announced […]
Read More“Evil corporations” are often charged with profiting unethically or from the misfortunes of others. Airlines collect an estimated $2 billion each year in ticket change and cancellation fees from fliers. Chain retailers often charge more for a certain products in one location than in another. Credit card companies charge “outrageous” fees and interest rates on […]
Read MoreIt looks like the end of the so-called public option in the President’s healthcare reform package. While Obama continues to speak in generalities, Health and Human Services Secretary Kathleen Sebelius made the following comment on CNN’s State of the Union: “I think there will be a competitor to private insurers. That’s really the essential part, […]
Read MoreOur founding fathers instinctively knew that governments usually create more problems than they solve. However, the modern liberal clings to the notion that an expanded government is usually good for society. Most conservative-liberal debates today are built on this clash of worldviews. History clearly favors the conservative position, but many conservatives fail to grasp this […]
Read MoreObama’s Car Allowance Rebate System (CARS)—better known as CASH FOR CLUNKERS—is another in a long string of wasteful government programs. Under CARS, you can get a $3500 or $4500 government cash voucher when you trade in your car for a new one that gets better mileage. The program is supposed to get inefficient polluters off […]
Read MoreWhat’s wrong with mixing a little socialism with capitalism? Isn’t it a good idea to pool our resources and share risks sometimes? If we do this when we buy insurance, then what’s wrong with government doing it? Aren’t the real solutions to our problems “somewhere in the middle?” These questions have been popping up in […]
Read MoreObama economic advisor Laura Tyson has suggested that another “economic stimulus” is needed to prime the economic pump because the first one just wasn’t big enough. Although not officially speaking for the President, Tyson’s sentiment dovetails Vice President Biden’s lament that the “we misread how bad the economy was.” Could another stimulus be in the […]
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