Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: growth

Rosy jobs Report Headline fails to mask Continuing Underlying Weakness

English: CALEXICO, CA, 4-4-07 --- Hundreds of ...

Photo by Michael Raphael (Photo credit: Wikipedia)

The headlines from Friday’s jobs report from the Bureau of Labor Statistics (BLS) were rosy: employment rose by 288,000 (exceeding expectations) while the unemployment rate fell by 0.4 percent to 6.3, just above the rate dating back to September 2008.

The talking heads from the administration looked only at those headlines and took credit for the gains. Jason Furman, chairman of Obama’s Council of Economic Advisors, said

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Pulitzer Prize Award Over NSA Revelations Generates Vitriolic Criticism

The Pulitzer Prize gold medal award 한국어: 퓰리처상 ...

The Pulitzer Prize gold medal award (Photo credit: Wikipedia)

The Washington Post’s Executive Editor Martin Baron anticipated that there would be strong criticism voiced when those opposed to Edward Snowden’s revelations learned of the Pulitzer Prize Committee’s decision to award its prestigious Public Service award to his paper. He may not have estimated the degree and extent and especially the vitriol of that criticism.

Said Baron:

Disclosing the massive expansion of the NSA’s surveillance network absolutely was a public service. In constructing a surveillance system of breathtaking scope and intrusiveness, our government also sharply eroded individual privacy. All of this was done in secret, without public debate…

[Without Edward Snowden’s disclosures] we never would have known how far this country had

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Connecticut Raises its Minimum Wage to $10.10 an Hour

Governor's Agreement With State Employees

Governor’s Agreement With State Employees (Photo credit: CT Senate Democrats)

In a remarkable display of hubris and economic ignorance, Connecticut Governor Dannel Malloy proudly announced on Thursday that his state is the first to raise the minimum wage to $10.10 an hour:

This is just a step in moving people in the right direction.

We will be lifting people out of poverty in the state of Connecticut. Increasing the minimum wage is not just good for workers, it’s also good for business.

What the new law will really do as it is phased in over the next three years is

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Fed Transcripts from 2008 Reveal Experts to be Clueless and Confused

English: President Barack Obama confers with F...

President Barack Obama confers with Federal Reserve Chairman Ben Bernanke following their meeting at the White House. (Photo credit: Wikipedia)

Followers of the Fed have carefully analyzed the 1,865 pages of transcripts it released in February of its eight regularly scheduled meetings and six emergency meetings in 2008 and have concluded that these experts were clueless and unaware of the opening economic abyss yawning before them. Even the New York Times was forced to admit, following its review of the documents, that

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Latest CBO Outlook Ignores Birth Rates and Tipping Points

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, February 5, 2014:

Just reading the headlines, the average citizen is likely to think that now that the deficits are under control Washington can focus on problems elsewhere. The Congressional Budget Office (CBO) estimated in May that the current year’s deficit would come in at $560 billion, half what it was just two years ago. In its report released on Tuesday, it was pleased to note that

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US Government Shutdown Not Likely to Break Belgium’s Record of 589 Days

With news that the partial US government shutdown won’t be resolved for at least the next two weeks, and will then only likely end when the debt limit crisis forces it, commentators have resurrected the history of the last government shutdown during the Clinton administration. But little if any media attention is being paid to the longest government shutdown,

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The Far-reaching Consequences of the Fracking Boom

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, September 25th, 2013:

Even the people at IHS, Inc. (one of the world’s preeminent global consulting and forecasting firms) missed perhaps the most important impact the fracking boom is likely to have: it just might dampen the enthusiasm for the empire builders in Washington to continue to

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Warren Buffett’s Railroad is Testing Natural Gas to Drive its Locomotives

The quiet revolution going on in the energy sector as a result of fracking is being punctuated by changes unseen and unappreciated, such as the recent announcement by Warren Buffett’s railroad, BNSF Railway.  The largest railroad in the country, BNSF is testing the use of liquefied natural gas (LNG) to

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Friday’s Jobs Report: There’s Good News, and then…

On the surface Friday’s jobs report from the Bureau of Labor Statistics (BLS) wasn’t so bad: 169,000 jobs were created in August and the unemployment rate dropped slightly, once again, to 7.3%. This was slightly below expectations (180,000) but about in line with the average monthly gains over the past year.

But – and it’s a big but – not everyone is participating, and some of those numbers

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George Mitchell, the Father of Fracking, Dead at 94

With his determination and the ability to ignore naysayers, George Mitchell, the owner of a Fortune 500 company, Mitchell Energy & Development Company, poured himself and $6 million of his company’s money into the task of finding ways to access the natural gas he knew was underground of his property north of Houston, Texas. It took him more than 10 years to find those ways. Since 2000, his discoveries have changed the world and are responsible for

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50 years of Federal Regulations have Reduced Americans’ Standard of Living by 75 percent

The 20th annual snapshot of the federal regulatory state published by the Competitive Enterprise Institute (CEI) last month announced the arrival of an unhappy milestone: regulatory costs now amount to more than half of all federal spending. Put another way, the real cost of government in the United States is

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Once Reviled, Capitalism is Making an Extraordinary Comeback Worldwide

This article originally appeared at McAlvany Intelligence Advisor

 

Hidden inside an obscure study just released by Barclays is a nugget of huge importance that reflects a sea change in the growth of entrepreneurial capitalism. The results of this development could equal if not exceed those of the

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How to resist Leviathan

I heard Robert Higgs speak at a Cato conference in California a few years ago and found him winsome, humble and bright. His resume is remarkable: Senior Fellow in Political Economy at the Independent Institute, Editor of The Independent Review, senior fellow at the Ludwig von Mises Institute and adjunct scholar at the Cato Institute. He’s best known for his tour de force, Crisis and Leviathan: Critical Episodes in the Growth of American Government, which was first published in 1987 and was just republished a few months ago.

He has been inveighing against big government for decades and, happily, has condensed his methods of resistance into a short article,

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US Now Produces More Oil than it Imports for the First Time since 1995

When Brantley Hargrove noted in the Dallas Observer on Thursday that the US produced more oil than it consumed during the last week in May (for the first time since February, 1995) he was awfully quick to give nearly all the credit to Texas. But he was proud, nevertheless:

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Slowing Economy Confirmed

The report from Automatic Data Processing (ADP) on Wednesday morning surprised economists once again by coming in substantially below their expectations. The 135,000 new private sector jobs created in May were way below the

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Obamanomics is to Blame for Worst Recession since the Great Depression

When libertarian scholar Peter Ferrara asked rhetorically in Sunday’s issue of Forbes, “Economically, Could Obama be America’s Worst President?” he relied heavily on statistics provided by the chief enabler of the Great Recession,

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The North Dakota ripple effect

The Minneapolis Fed has analyzed unemployment and wage rates in North Dakota and surrounding states and have discovered – eureka! – that there is a definite ripple effect that extends outward for hundreds of miles. They even have a graph showing their results:

Weekly wages in the Bakken oil fields have risen by an amazing 140% in just the last decade, while unemployment has dropped to under 2 percent. The impact, however, isn’t limited just to the immediate area. As far away as Rapid City, South Dakota, unemployment is dropping and wages are rising (albeit more slowly than unemployment is dropping).

The farther away from Bakken, however, the more other more local factors are felt:

As distance increases, many  other factors likely explain wage gains or unemployment rates relative to  distance from the Bakken. For example, more agriculture-intensive counties are  also benefiting from the strong farm sector.

Just imagine the impact in California, for example, if the greenies there would like developers explore the newly discovered oil shale opportunities there. And if the greenies relent and let Colorado develop its resources, the same ripple effect would like occur.

Come to think of it, wouldn’t this happen all across the country, if governments (national, regional and local) would just get out of the way?

Austerity is impending the economy, say the Keynesians

Two writers at The New York Times have embraced the fallacy that cutting government spending is keeping the economy from growing. It is Keynesian claptrap.

Let’s let them rant a little before responding:

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42 House Republicans Propose Ending “Obama phone” Subsidy

When Rep. Tim Griffin (R-Ark.), the sponsor of legislation to end the Lifeline mobile-phone subsidy for the poor, noted that “It’s not fair that people save and work and pay for phones from whatever funds they have, and other people get them for free,” he also said that

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Joint Bills Introduced to Cut SNAP

During his introduction of a bill to save $30 billion from the old food stamp program – now called the Supplemental Nutrition Assistance Program (SNAP) – Senator John Thune (R-S.D.) said that

Since President Obama assumed office, participation in SNAP, which was formerly referred to as food stamps, has increased from 32 million to

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.