Member Post

 

Overflying San Antonio International, I hear on the radio Mexican aircraft, which I can tell from their call signs (Mexican ones start with X) and often the accent of the pilots. These are not airliners, whose call signs are simply the airline and the flight number. I wasn’t too curious until very recently, when my […]

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Adam Townsend, an investor, extreme salesman and futurist, joins Carol Roth to talk about his story from Wall Street mega-success to personal depression and his take on the future. Adam and Carol discus why he is excited about Space Force, why he’s bullish on America (and the stock market) and why he believes we are currently witnessing the greatest roll up of power in all of history, from the political class to the mega-tech corporations.  

You can connect with Adam on Twitter @AdamScrabble.

Join Jim and Greg as they cheer President Trump’s selection of Judge Amy Coney Barrett for the U.S. Supreme Court. They also dig into the New York Times story on Trump’s taxes and discuss what might be damaging and what’s just noise. And they discuss the spectrum of attacks Democrats and their media allies are aiming at Judge Barrett – from Obamacare scares to bashing her for being a working mom to why adopting kids from Haiti is somehow troubling.

In a show we could just as easily have named “David Limbaugh Cuts Through The Static,” the acclaimed NYT Best Selling author, pundit, and brother of Rush Limbaugh sits down with our own Dave Carter for a running stream of analysis that both figuratively and literally cuts through the static. That’s because the interview ran into a technical snag that resulted in actual static in the audio recording! Remarkably enough, Mr. Limbaugh’s clear analysis and commentary rises above the static (owing perhaps to his passion and conviction), so that the audio distortion will not prevent you from hearing what he has to say. And what he has to say needs to heard as a ringing indictment not only of the cancel culture and the left’s mob mentality, but of those on the right whose vacillations have helped bring us to this point.

Then Ricochet’s own Henry Racette stops by to discuss his recent article, “About That Vacancy,” and how he sees the 2020 Presidential election shaping up. This episode is rich in analysis, technical glitches notwithstanding, and we think you’ll enjoy the conversations.

Recommended by Ricochet Members Created with Sketch. Dispatch from Seattle: Goodbye to Another Small Business

 

The reasons Hardwick’s Hardware (a Seattle institution of 88 years) is leaving Seattle for northern Idaho? Crime, and taxes.

The owner detailed the break-ins, and endless tax forms. Washington’s Business and Occupation tax is a gross-receipts tax, not dependent upon whether a business makes a profit or not. It is very easy for politicians to punish an entire industry by increasing the B & O tax rate or the opposite for a favored industry.

Member Post

 

I’m confused (perhaps not a difficult state to achieve). The New York City Council passed a bill that allows (but does not require) restaurants to charge a 10% “Covid fee” surcharge. The stated purpose of the permitted surcharge is to allow restaurants to recover revenue lost from being shut down for months, and from now […]

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Contributor Post Created with Sketch. America’s Pre-Pandemic Economy Demonstrated the Power of Productivity-Driven Market Capitalism

 

For believers in “late capitalism” — the idea that we’ve reached the terminal phase of the planet’s dominant socio-economic system — the new Census Bureau numbers should have been unsettling. Data for 2019 show median US income rose nearly 7 percent to $68,703. “Rising employment and broad-based wage increases in 2019 helped drive that uptick” is how officials explain the increase, according to The Washington Post.

Of course, maybe the gloomers and doomers can take some bizarre comfort in the possibility that the numbers were distorted to some degree by data collection issues related to the pandemic. Even setting aside these Census numbers, there is plenty of reason that “late” makes for a poor choice of adjective when talking about American market capitalism. For starters, the story of wage growth in 2018 and 2019 is that wages were rising at a decent clip given so-so productivity growth. And that’s for workers in the top, middle, and bottom third. And that’s accounting for inflation. And that’s even separating out the minimum wage. You can mostly thank a long economic expansion.

Member Post

 

What could possibly go wrong? I like bold ideas. This is certainly bold. I am not sure about the details of her plan, but it sounds like these non-violent drug dealers can continue to sell as much drugs as they can get their hands on for 12 months, and then are supposed to invest that […]

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Wayne Winegarden, Ph.D., Senior Fellow of Business and Economics for the Pacific Research Institute joins Carol Roth to discuss a free market approach to energy. He talks about why electric car subsidies help the rich, why overregulation hurts the poor and how Californians could save more than $2,000 a year if lawmakers enacted free market policies. Wayne and Carol talk about California’s rolling blackout problems and why big government is to blame, the big problem with solar energy that nobody is talking about, nuclear power and more.

Plus, a Now You Know segment on the Canary Islands. 

Contributor Post Created with Sketch. Postwar Economic ‘Golden Age’ Wasn’t as Golden as We Remember

 

A currently unfashionable notion: A corporation should be run primarily for the benefit of its shareholder owners by maximizing its value. The most provocative distillation of the idea is Nobel laureate economist Milton Friedman’s famous 1970 essay in the Sunday magazine of The New York Times, “A Friedman doctrine– The Social Responsibility Of Business Is to Increase Its Profits.” The most-repeated bit in that piece is actually Friedman quoting an attack on “social responsibility” from his own book, Capitalism and Freedom: “… there is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.”

For a great analysis of why Friedman’s emphasis on what came to be called “shareholder primacy” remains a valuable analytical and conceptual lens, please check the new AEI essay “For whom should corporations be run?” by Sanjai Bhagat, a finance professor at the University of Colorado, and Glenn Hubbard, an AEI visiting scholar and economics professor at Columbia Business School. Also of interest is a big reason why the Friedman Doctrine is currently under fire as never before. Some critics view the immediate postwar decades as an economic Golden Age that never turned into a Golden Century (or at least half-century). And that failure, they say, is partly because of the rise of a short-sighted, rapacious capitalism that Friedman supposedly recommended. This new cold-blooded, cutthroat capitalism eventually ended the cozier-yet-wildly-successful capitalism variant of the 1950s and 1960s that had created a fast-growth, high-productivity, low-inequality economy built on a cooperative and stable relationship between Big Business management and labor.

Recommended by Ricochet Members Created with Sketch. QOTD: Your Wealth Does Not Create My Poverty

 

…most important was the insight, key insight that Adam Smith had – brilliant insight – that wealth is not zero-sum, that you can make more of practically everything that’s important.

He understood this even while he was still living in a largely agricultural economy. He realized that because somebody is rich, that’s not what makes other people poor. Wealth is not a pizza where, if I have too many slices, you have to eat the Dominos box. My wealth does not create your poverty. Your wealth does not create my poverty. They’re separate questions. And we can generate more wealth.

Contributor Post Created with Sketch. Piling on Debt Is Not the Answer

 

The consequences of the Great Policy Blunder – shutting down our economy in a futile attempt to escape a viral pandemic – are numerous and devastating. Widespread unemployment, cratering GDP, educational disruption, escalating overdose and suicide rates, and increased racial tensions are just part of the penalty we are paying for decisions made.

But when the dust has settled and we’re in the New Normal, whatever that is, we’ll have to deal with the most lasting of all the self-inflicted wounds – the broad economic destruction that will be the result of piling onto our debt load.

Join Jim and Greg as they get a kick out of New York Democrat Rep. Max Rose posting a six-second ad just to bash deeply unpopular Mayor Bill de Blasio and hope it means Rep. Rose is feeling nervous. They also wade into the supposedly explosive revelations about President Trump’s coronavirus approach in Bob Woodward’s new book. And they fume as our tax dollars help pay for an event calling for an end to capitalism and even the United States itself.

Contributor Post Created with Sketch. When You Hear ‘Socialism,’ Think ‘Control’

 

When someone calls themself a “socialist” or says they think “socialism” has a lot of good ideas, what do they mean? After all, most of us are not political scientists or philosophers. And terms like “socialism,” “capitalism,” “liberalism,” and “conservatism” really get tossed around. Back in 2018, Gallup updated a question it first asked in 1949: “What is your understanding of the term ‘socialism’?”

Join Jim and Greg as they serve up three martinis, including one bad one they think could end up being good. They discuss unions planning walkouts from teachers, truckers, government employees and others to demand things like Medicare for all, free rent, and defunding the police – but see tremendous potential for this tactic to backfire spectacularly. They also unload on Kamala Harris for reversing her position on fracking and noting her blatant pandering to Pennsylvania voters in the process. And they vent in reaction to a California wildfire starting from a pyrotechnic explosion at a gender-reveal party.

With the Election 2020 and COVID monopolizing the news, the financial distress of businesses is receiving little coverage. Stephen Moore, White House Economic Adviser and Economic Recovery Task Force answers the hard questions about the tsunami of Commercial Real Estate defaults, small business closures, the National Debt, AB5, Payroll Tax holiday. Then at @30:10, Congressional Candidate for CA-7 Buzz Patterson joined Dave at The Real Side Radio on the Salem and GCN Network; Buzz discusses why the Biden campaign is scared, flipping the House red through California, the very real threat of Vote By Mail balloting and how we may not know the results of the election for weeks beyond Nov. 4th. Find Buzz at http://Buzz4Congress.com.

Join Jim and Greg as they cheer the August jobs report showing nearly 1.4 million new jobs and the unemployment rate dropping well below expectations. They also wade into the anonymous allegations in “The Atlantic” that President Trump uttered disparaging comments about our war dead and wounded veterans. And as Joe Biden starts making public appearances, the cringe-inducing moments come with him. Why does Biden never pay a price for comments that might sink other political figures?

Join Jim and Greg as they welcome NPR’s admission that it failed listeners in its favorable interview of a radical author who thinks property ownership is a form of white supremacy, although they wonder why such a person was ever invited onto NPR in the first place. They also roll their eyes as New York Gov. Andrew Cuomo warns President Trump he would need an army to return safely to New York City. And they try to figure out why Nancy Pelosi decided to launch a conspiracy theory about her flouting of the San Francisco COVID restrictions instead of just letting the story die.

Join Jim and Greg as they welcome Massachusetts voters rejecting the Senate bid of Rep. Joe Kennedy III, who didn’t have a reason to run other than being a Kennedy, and helping dismantle the stupid notion that America has a royal family. They also unload on House Speaker Nancy Pelosi for flouting COVID restrictions while constantly lecturing everyone else. And they hammer local D.C. political figures for wanting to “remove, relocate, or contextualize” the Jefferson Memorial and Washington Monument among other sites – and call out the Washington Post for pretending there was never a call to remove or relocate them.

Back to the regularly scheduled broadcast!

On this show, Seth, Park, Grant, and Jay discuss Joe Biden’s speech addressing protest violence, how the media narrative shifted to cover the protests, and whether or not Biden’s speech is more effective for quelling violence or for his campaign.