Peter Schiff understands the economy.
Listen to him.
The verbose bald gentleman in this video is the kind of “expert” the media would have you listen to about the economy.
Tag Archive: Bailouts
Back on January 1, 2009 I had posted about a possible newspaper bailout. Now another unscrupulous politician, Benjamin Cardin (D) is proposing The Newspaper Revitalization Act.
If this ever moves forward, there is going to be a lot of nonsense from politicians about the newspaper industry and tradition, and so on.
The fact is that they have been failing because they: Read More »
Once upon a time in an American town there was a well-liked All-American boy named Billy Jones. Billy wanted to attend his nearby state college. Being well-liked, people in his neighborhood paid him $15 per week to mow lawns so that he can save up for his college expenses. It seems like a nice deal. Billy is happy he is paid for his service and people are happy they have gained more free time and decreased their weekly burdens… all for a fair price.
After a few weeks people notice the quality of service decreasing. Billy is obviously taking shortcuts and not doing a very good job. However, Billy continues to ask for the full price. After a few more weeks, the people start noticing that the boy’s mowing has gotten so sloppy that he has somehow started to cause damage to their other plants and flowers.
The people in the neighborhood begin addressing the problem. They express their dissatisfaction and explain that the reason they wanted the lawn service was to reduce work load and the damage caused would nullify any benefits of having the service. Therefore, he needed to improve his service.
After a few more weeks, the problems continue and Billy raises his prices to $17 per week, despite low customer satisfaction. He reminds people of what a good thing they are doing by helping fund his college education. Billy also explains the prices have gone up to buy seeds to help repair the damage (meaning the customers are really buying the seed). Plus, the government school he is going to has increased admissions to satisfy their union’s demands, so the price has to go up for his customers.
Some people decide that they have had enough and decide to stop buying his service. Others feel guilty about letting him fail. After all, this is the kid from their neighborhood…one of their own. How can they let him fail? Read More »
Reuters has just released a piece about Connecticut lawmaker Frank Nicastro, suggesting that it is his duty to bailout failing newspapers. Obviously this is a absurd suggestion, but the absurd is the rule and not the exception in recent times.
Quick Points:
1. If he feels its his duty then he should quit his post as lawmaker and become a newspaper man.
The UAW is one of the biggest campaign funders of democrats.
This being said, of course the democrats would do whatever they have to in order to bail out the terribly run auto companies.