May 2010


“We can’t continually see health spending growing above and beyond the growth rate in the economy because, at some point, it means crowding out of all the other government services.

“At some stage we’re going to hit a breaking point.”

Here are the predictable results of bureaucratic decision-making instead of individual decision-making.

Spoken by the Obama Adminstration’s Interior Secretary Ken Salazar. There has been a whiff of fascism in the air since progressivism’s resurgence.

“After stagnating for a decade between 1993-2003, Colombian stocks have increased more than eight-fold since early 2004, and have more than doubled over the last two years (see chart above). The failure to pass the Colombian FTA means that U.S. exporters are missing out on a golden opportunity to gain from Colombia’s thriving economy.” Carpe Diem.

Just what we don’t need: fewer jobs and less wealth creation, which results from the successful execution of commercial transactions.

Landscapers in Michigan and now farm orchard workers in Washington.  Carpe Diem.

Under the new rules — established by the Securities & Exchange Commission in January – money funds must hold more liquid assets and limit their investments to only the highest-quality securities. In addition, they must reduce the average maturity of the securities they hold.

Furthermore, retail or taxable money-market funds must now hold at least 10% of assets in cash or highly liquid securities — think Treasurys — that can be converted to cash within one day. At least 30% of a money fund’s assets must be in cash or Treasurys that mature in 60 days or less, or that can be converted into cash within a week.

Looks like the new rules embody the fatal conceit that government bureaucrats think they know how to run businesses better than the employees themselves.

Investors will have fewer choices thanks to the new rules. Mutual fund company Vanguard closed some funds because they cannot make a profit.

Here.

In an effort to slow the exodus of U.S. telephone work to overseas services, Sen. Charles Schumer is introducing legislation that would impose an excise tax on companies that transfer calls with American area codes to foreign call centers. . . .

“If we want to put a stop to the outsourcing of American jobs, then we need to provide incentives for American companies to keep American jobs here,” Schumer said last week. The New York Democrat said the excise tax would “also provide a reason for companies that have already outsourced jobs to bring them back.”

AP story here.The ‘D’ must stand for dimwit. Sen. Schumer and his party are trying best as they can to relive the Great Depression. If you want to put a stop to the outsourcing, stop chasing people and capital away.

Hi all — I’ve been on vacation for the last several days and will return next week. I see I missed several issues.

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