The Congressional Budget Office (CBO) reported in early May that for the month of April 2015 the Federal government ran a budget surplus, taking in more in taxes than it laid out in expenditures. Don’t be fooled by one month, especially when it was a month when people filed and pay their taxes. Government deficits and growing debt are on the horizon for as far as the human eye can predict.
Old fallacies never seem to die, they just fad away to reemerge once again later on. One such fallacy is that if there is significant unemployment and slow economic growth it must be due to not enough consumers’ spending in the economy, what Keynesian economists call a “failure of aggregate demand.”
The trailer for Johan Norberg’s latest documentary was released last year and the documentary itself will premiere on the WORLD Channel Monday, April 27. The effort explores how innovation and new technologies are meeting our world’s growing energy needs. Hence, the biggest challenge to be faced, given a world that is literally overflowing with energy, is not insufficient energy supply, but how world citizens will safely convert, store and pay for it.
As a new year begins, it is easy to consider that the prospects for freedom in America and in many other parts of the world to seem dim. After all, government continues to grow bigger and more intrusive, along with tax burdens that siphon off vast amounts of private wealth.
In 1811, British factory workers literally “fought the machine,” protesting against technology under the banner of mythical figurehead King Ludd. Upset about being replaced by more efficient machinery, cost-ineffective factory workers rebelled against the installation of threshing machines and other force-multipliers.
On Nov. 2, the Intergovernmental Panel on Climate Change (IPCC) released its “2014 Summary for Policymakers.” This report has been described as the starkest warning yet about the need to dramatically reduce greenhouse gas emissions or face “the chaos of runaway climate change,” despite the scientific fact there has been no significant increase in the average global temperature since 1998.
It is a rare occurrence when Hollywood produces a film that neither glorifies the welfare-warfare state, nor vilifies capitalists and businessmen. Yet that is exactly what Marvel Studios has managed with the Iron Man series. In the character of Tony Stark we see the pinnacle of the capitalist fantasy: an ingenious businessman who values property rights and self-defense, and who does not compromise those fundamental rights in the face of government intimidation and force.
James Hansen has a fantasy book out called “Storms of my Grandchildren.” I say fantasy because it seems that if you are climate scientist, or pretend to be (Dr. Hansen is actually a trained astronomer and a darn good one from what I have heard), you are allowed to make forecasts that no one now will be around to verify, and the ones you do make short term are allowed to bust and then be claimed as correct anyway. I think a lot of people in my business, who pre-date the rise of the climate science hero, are wondering if we chose the wrong profession.
Pundits are expected to make predictions for the year ahead and far be it for me to avoid what, generally speaking, depends on who is making them. Major trends are already in place and easy to predict as they proceed, but it is always unknown events that upend predictions. Mother Nature and perpetrators of evil can always be counted upon to provide them.
America 3.0: Rebooting American Prosperity in the 21st Century tells the story of our nation’s government as crushingly expensive, one that is failing at its basic functions and unable to keep its promises. Such an unworkable and out-of-control government cannot continue as the status quo.