Archive for July 2010
The Government’s ‘alternative energy’ policies will be a disaster for the economy
Gerard Jackson Monday 26 July 2010
The Liberal Party’s proposed $3.2 billion solar fraud is just another demonstration of its leaders cowardice and wanton disregard for future living standards. Regardless of what Greg Hunt asserts there is no “real choice” between the Labour Government’s destructive energy policy and the Liberal Party’s green pandering. They are both based on outrageous distortions and outright lies.
Will the Reserve’s tight monetary policy drive the Australian economy off a cliff?
Gerard Jackson Monday 26 July 2010
For 2009 M1 rose by 4.5 per cent, though it needs to be stated that the expansion was an erratic. However, monetary growth stopped last January, fell the following month and then remained flat until March after which it contracted in April and May at an average annual rate of 7 per cent. This is what is called a deflation. Now I don’t believe for a moment that the Reserve is going to allow the money supply to deflate by a significant amount. But these figures do reveal how tight monetary policy has become.
Influential commentators urge the Fed to raise the pace of pumping
Dr Frank Shostak Monday July 26 2010
Some Fed officials and various commentators, such as professor Paul Krugman, are of the view that the US central bank should be ready to consider additional steps to boost the US economy in the wake of a visible softening in key economic data. For instance, the yearly rate of growth of retail sales after climbing to 8.5 per cent in March, have fallen to 4.8 per cent in June. The ISM manufacturing purchasing management index fell to 56.2 last month from 59.7 in May.
The US economy is Obama’s mess and Democrats are panicking
Gerard Jackson Monday 26 July 2010
If I were not such an admirer of the United States I should be inclined to say that in electing the rabid leftwing Obama to the presidency Americans deserve everything they are getting — and good and hard. But America is a generous and unique country and deserves much better than this. Regardless of what Obama and fellow leftists assert America is special. The first country in history to be founded directly on the principle of liberty and the “inalienable rights of Man”. That Obama and his merry band of bitter leftists mock this fact reveals their not-so underlying contempt for ‘their’ country’s traditions, history and citizens.
Posted in Gerard Jackson
Obama’s policies are a recipe for economic stagnation
Gerard Jackson Monday 19 July 2010
Grim is one word that surely sums up the state of the US economy. Without a doubt the Obama administration is the most incompetent since the lamentable Carter sat in the Oval office. Now there are some who sincerely believe that Obama has deliberately set out to destroy the economy. What else could explain his ‘economic policies’? Ideologically-driven ignorance, for one.When Obama first emerged into the political sunlight I warned that this character is a committed leftwing ideologue and a profoundly ignorant man. Americans are now — apart from the true believers who evidently live in an alternative universe — beginning to face up to the reality of the man and the magnitude of their electoral folly.
Posted in Federal Reserve (USA)
Why capital gains taxes retard economic growth
Gerard Jackson Monday 19 July 2010
Obama’s impending tidal wave of taxes raises the question of how capital gains taxes affect economic growth. What most people do not understand, including those clamouring for tax reform, is that capital gains are economic profits and not accounting profits, and this is where capital gains taxes do the most damage. This has the effect of reducing the number of transactions because that is one of the ways of avoiding the tax. In other words, capital gains taxes are also transaction taxes where they are levied on realised gains.