Free Republic

If you listen to the news on the economy or financial markets, you have probably heard statements like “consumption drives the American economy,” or “consumption is 70% of the economy.” But in a new book out that follows in the footsteps of Henry Hazlitt’s classic “Economics in One Lesson” — though in a much more fun package — titled “Popular Economics: What the Rolling Stones, Downton Abbey, and LeBron James Can Teach You about Economics,” Forbes and RealClearMarkets Editor, and senior economic advisor to Toreador Research and Trading John Tamny challenges this and much other “conventional wisdom” on taxes, regulations,...

Gov. Scott Walker's likely 2016 presidential campaign got a boost Thursday when two of his longtime campaign managers formed a political group that can raise and spend unlimited amounts of money, The Associated Press reports. They are calling the group Unintimidated PAC, a reference to [Governor Scott] Walker's 2013 book, "Unintimidated: A Governor's Story and a Nation's Challenge." The AP reports that the super PAC will be led by Keith Gilkes, a longtime Walker aide who ran Walker's 2010 gubernatorial campaign and previously served as his chief of staff. Gilkes also ran Walker's successful 2012 recall election, which was triggered...

What Is the State of the U.S. Gun Business? By Marcelo Prince and Carlos A. Tovar After several years of strong sales to civilians worried about new regulations, big U.S. firearms makers have recently reported lower sales. The overall number of American households with guns is declining..

Chicago Mayor Rahm Emanuel, after winning reelection, pronounced Chicago "the greatest city in America." Run by Democrats for more than eight decades, Chicago should serve as a showplace that reflects the wonderful world of "progressive policies." Public schools are a mess, and the city's finances place their bonds at near junk level. In 2013, the city averaged 36 homicides a month, with the majority of them unsolved. CNN aired a series on Chicago called "Chicagoland," starring the city's dynamic mayor. Presumably, Emanuel thought it would show off the mayor as he tackled the city's problems. Why, if the man his...

Candidate Ted Cruz A declared presidential candidate has a proven track record that supports his promises to honor the Constitution and his Christian faith. He has the audacity to imagine smaller, less-intrusive government, healthcare between doctor and patient without government, a greatly simplified tax system with a flat tax, a strong military, our unabridged right to bear arms, a controlled southern border and education controlled by the states — not by the federal government or the United Nations. These positions synchronize with those of George Washington, the remainder of our Founding Fathers and Ronald Reagan. How refreshing! For these views...

The “homeless billionaire,” a world-renowned architect and the future of Brick City.Newark is building again. Yes, that Newark—the city in Jersey that burned after the ’67 riots, the one that helped to define “white flight,” that struggles still with almost impenetrable unemployment and homelessness and crime. That city is building. And here it all is—its past and present and future—pouring through Irene Hall’s floor-to-ceiling windows downtown: the whites and browns of the Old First Presbyterian Church, founded in 1666; haggard red brick facades with windows sealed off by cinderblock; the neon blue lights of Hotel Indigo, which opened last year...

General Motors Co will not have to face dozens of lawsuits accusing it of concealing an ignition-switch defect that has been blamed for more than 200 deaths and serious injuries, a U.S. bankruptcy judge ruled on Wednesday. Plaintiffs in the lawsuits said the company violated their constitutional rights by failing to disclose the defect, while GM had argued it was protected from claims on vehicles pre-dating its 2009 exit from Chapter 11 bankruptcy. The decision by U.S. Bankruptcy Judge Robert Gerber means GM may avoid potentially billions of dollars in liability, as well as the cost of defending those lawsuits,...

U.S. Sen. Ted Cruz, R-Texas, released the following statement marking Tax Day: "Tax day is upon us again. But this year it’s different. This year, on top of the frustrating reminder that Americans are giving too much of their income to fund too many wasteful government programs, families are now being forced to pay the Obamacare tax for the first time. "Instead of government-run healthcare that increases taxes, limits options, and puts the government between patients and their doctors, imagine a free-market system that enables healthcare to be personal, portable and affordable. Instead of a tax code that crushes innovation...

"...Mr. Walker is the top presidential choice for 24 percent of GOP primary voters, according to the poll out Wednesday from the Democratic firm Public Policy Polling. ....Mr. Walker was viewed most favorably by GOP primary voters; 57 percent had a favorable opinion of him, compared to 13 percent who had an unfavorable opinion. He also led among a swath of the potential primary electorate, winning over GOP voters who identified themselves as “moderate,” “somewhat conservative” and “very conservative.”....

Former CEO of GM Jack Welch and wife Suzy, authors of “The Real-Life MBA: Your No-BS Guide to Winning the Game, Building a Team, and Growing Your Career”, talked to Brian on Kilmeade and Friends about why they wrote the book.---snip--- (AUDIO-AT-LINK)On the 2016 GOP Presidential candidates, Jack Welch told Brian that he is taking a very interesting and deep look into Senator Ted Cruz (R-TX) because he likes what he stands for, has guts, and does what he says....

The AFL-CIO is ramping up its efforts this week to convince Congress to oppose giving the White House fast-track authority on trade. The labor group is holding events across the country as part of a “week of action” on trade. “The week of action will increase the political momentum and grassroots opposition to fast track the same week Congress is expected to begin consideration of a trade promotion authority bill,” the AFL-CIO said in a statement. Lawmakers, labor union leaders and their members will hold a rally Wednesday on Capitol Hill and follow that up with 50 grassroots events around...

A smoldering debate over trade is expected to get even hotter after Congress returns from its two-week spring break. Senate Finance Committee leaders Orrin Hatch and Ron Wyden appear poised to introduce a “fast track” trade promotion authority bill along with House Ways and Means Committee Chairman Paul Ryan. But months of closed-door negotiations were continuing on Friday, congressional aides said. The power, largely embraced by Republicans, pits many congressional Democrats, including Sen. Elizabeth Warren and potentially Senate Democratic leader-in-waiting Charles Schumer, against the White House. The measure would allow President Barack Obama to submit free trade agreements to Congress...

The disappointing March employment report the government released on April 3 [1] finally forced the business press to ‘fess up to the truth, best summed up in words found at the Associated Press [2]: ”For months, the U.S. economy’s strength has been flagging.”That admission takes “too little, too late” to a whole new level.During the past several months, business scribes and broadcasters have largely pretended that all is well, constructing and maintaining a Potemkin-like facade of a prosperous economy, even as the vast majority of hard-number economic indicators turned in performances ranging from middling to awful. To prop up their...

The 2016 Republican presidential field on Sunday greeted Democratic candidate Hillary Clinton’s entrance into the race with skepticism. Sen. Rand Paul (R-Ky.) led the charge by releasing several anti-Clinton items in his campaign store, which offers bumper stickers, posters and t-shirts emblazoned with the slogan “liberty, not Hillary.” The Kentucky lawmaker continued his attack with a GIF tweeted out to the social media masses. It mocked allegations Clinton used a private email server as secretary of State by showing a mobile phone deleting messages addressed to her. Paul additionally released his first television ad attacking Clinton on Sunday. The minute-long...

  The total privately owned stocks and mutual fund shares adds up to a soaring record total $21,169,400,000 --according to the latest Federal Reserves Flow of Funds Report.  Yeah I see all the hands waving --and the big question that follows has to do with population and inflation.  We went through this back on an earlier thread when the press was tootin' about how America's private wealth was supposedly at an all time high but only as a total of inflated dollars.  The average American's total holdings in real dollars is still less than it was eight years ago. ...

Indians did not fight in World War I because they wanted to expand their territorial boundaries, PM Modi said at the Carrousel du Louvre in Paris. On the 100th anniversary of World War 1 on Saturday, PM Modi visited the WWI Memorial at Neuve Chapelle. Later in the day, he addressed Indian diaspora at Carrousel du Louvre in Paris. Prime Minister Narendra Modi on Saturday visited the Airbus A 380 assembly line facility soon after arriving in Toulouse. Toulouse is the home as well for the Airbus’ A380 final assembly line – a massive facility that provides a space of...

Wisconsin Gov. Scott Walker won the Charleston County Republican Party’s straw poll Saturday as the GOP came together to organize ahead of the 2016 election season.... ....Saturday’s convention was part of the regular business of the party. The straw poll was loosely conducted with about 240 delegates eligible to take part. Presidential hopeful Walker was recently in Charleston where he spoke out against unions and in support of Gov. Nikki Haley. He drew 24 votes or about 10 percent of the total. The next top finishers were: U.S. Sen. Rand Paul, 20 votes; R-Ky., Sen. Ted Cruz, R-Tex., 18 votes;...

In a clearly orchestrated move, 28 McDonalds employees from around the nation filed health and safety complaints against their employer Monday, claiming they were severely burned while working and told by managers to treat the wounds with condiments. The employees were assisted in this effort by the "Fight for $15" campaign, a program launched by the Service Employees International Union. The SEIU has been attempting to unionize fast food workers, and as part of a broader effort, trying to get independent franchisees declared as "joint employers" so as to facilitate that process and gain access to the much deeper pockets...

"... Walker concedes nothing to the conventional wisdom about what the GOP must do to compete in a more culturally tolerant, ethnically diverse and economically insecure America. And the GOP faithful love it.It starts with ethnicity and race. Since 2012, many prominent Republicans have made overtures to African Americans and Latinos....Not Walker. His speech in Iowa not only slammed President Obama’s executive action legalizing some undocumented immigrants. It didn’t even include the love-letter to legal immigrants that Republicans typically use to shield themselves from charges of being anti-Hispanic. In addition, Walker said nothing about reaching out to African Americans and...

In a note today, Bank of America economists (after looking at weather data) admit their finding "puts us in an awkward spot today." What did it find? Namely that all those who reran that 2014 playbook, Ethan Harris and other Bank of America economists included, and decided to blame the weather for Q1 GDP crashing from over 3% to under 1%, are wrong or simply lying. Here is BofA: Is weather the main reason for recent weak economic data? While we would love to blame the weather for all of our bad forecasts, in reality it is hard to...