International trade figures heavily in the presidential race. Presidential candidate Donald Trump said, "Hillary Clinton unleashed a trade war against the American worker when she supported one terrible trade deal after another - from NAFTA to China to South Korea." And adding, "A Trump Administration will end that war by getting a fair deal for the American people. The era of economic surrender will finally be over."
Wages & Prices
While we shouldn't live in the past, we can certainly learn from it. We are not the first humans to walk the Earth and yet too many, especially the young, suffer from the conceit that history is just a boring subject in school. PBS is rerunning episodes on its award-winning series "American Experience" on modern presidents and the challenges they faced. Each episode retraces what presidents believed to be good ideas at the time -- from Lyndon Johnson's program to wipe out poverty and defeat the communists in Vietnam, to George W. Bush's toppling of Saddam Hussein.
It’s no secret that I’m very leery of Donald Trump. Simply stated, I don’t sense any genuine commitment to smaller government and free markets. But skepticism isn’t the same as bias and there is plenty of it in the media. As Julia Seymour at Newsbusters recently pointed out: 2 of 3 Networks Cover ‘Good’ Jobs News; All 3 Silent about Collapsing GDP.
COLORADO SPRINGS — My adopted hometown will soon be the base of operations for a new Netflix movie starring aging elitist hippies Robert Redford (estimated net worth: $170 million) and Jane Fonda (estimated net worth: $120 million).
In Saturday’s lead New York Times story, reporter Jackie Calmes glimpsed a silver lining in the rise of Donald Trump, as a challenge to the Republican party's myopic focus on “business and the privileged” that could relegate Reagan's "outmoded" ideas of tax cuts to the dustbin of history. The full deck of headlines: “As Trump Rises, G.O.P. Faces Push On Its Economics – Working-Class Appeal – Calling for the Party to Focus on Workers It Has Neglected.” Calmes used the prime piece of media real estate to aggressively push conservative “reformocons” who are against tax cuts.
What economists call an ability to make "compensating differences" is a valuable tool in everyone's arsenal. If people are prohibited from doing so, they are always worse off. You say, "Williams, I never heard of compensating differences. What are they?"
Secret isn’t just selling deodorant these days; it’s also advertising the fabled ‘wage gap.’ In the company’s popular “Raise” commercial, a young woman stand in front of a bathroom mirror, nervously preparing to ask her boss for raise. But whether or not her deodorant can hold up against her anxiety takes a back seat to her battle for equal pay.
Venezuela’s economy continues to deteriorate under the rule of its socialist president Nicolas Maduro. The collapsing economy, combined with government regulations and price controls created a food shortage so severe some have taken drastic measures. One group of desperate Venezuelans broke into a zoo and butchered a horse for meat on July 24, according to Fusion’s Manuel Rueda.
They call it a comeback.
It is true, the U.S. economy is no longer in the depths of what has been called “The Great Recession.” But, in many ways the economy remains “weak.” Overall economic growth remains “subpar” and labor force participation rates remain shocking, not far from 38-year lows.
Then of course there’s poverty, food stamp use, weak wage growth and household income struggles. The average household is still making thousands of dollars less than they were before the recession. Those indicators tell another side to the story, one the broadcast networks haven’t said much about.
It’s almost as if “Net Neutrality” is a Leftist safe word - to be uttered when the free market growing freely causes them too much discomfort.
Few things demonstrate the insular Media-Government Bubble better than this:
Tuesday's coverage at the Associated Press of the deepening humanitarian crisis in the Bolivarian socialist disaster known as Venezuela focused on the conditions in the ever-lengthening lines its citizens must endure in hopes of obtaining enough of the basics of everyday life just to survive.
Wire service reports often start off relatively brief and expand as reporters gather more information. That didn't happen with the AP's three Tuesday reports. Instead, Hannah Dreier's opening 11:51 a.m. Eastern Time dispatch was lengthy, with many compelling emotional and economic details. The second version of her report over an hour later was almost cut in half, and lost most of its power as a result. A final unbylined story at 3:39 p.m. — the one which most of AP's subscribers appear to have decided to carry — contained only 10 paragraphs, and even failed to note that the country whose people are now spending an average of 35 hours a week in line, and where 90 percent are saying they "can't buy enough to eat," is socialist.
Editor’s Note: Normal people might find some of this offensive. (We hope.)
Sex discrimination, anti-semitism, transgender cyborgs, money for nothing and a dress you wouldn’t want to touch with a 10-foot-long pair of scissors. That’s the best of, or worst of, a week in the left-wing press. It’s pressing or just depressing.