Marijuana, Hemp and Federalism (U.S. Rep. Steve Cohen (D-TN))

Representative Cohen is impressive in this interview and is exactly how I like my politicians: Conservative in demeanor and thoughtful over a wide range of aspects on the issue.

Cato Institute You Tube presentation

Walking the Talk

"The Economist"magazine posed the question, "Can China's leaders revive the economy and reform at the same time?"  I believe that China has advanced as an authoritarian regime to near it's maximum by taking advantage of inexpensive and abundant labor.  Now having reached a level with labor more expensive and better educated the authoritarian grip will have to be relaxed or it gets in the way of  further growth.  This means that capital is allocated by markets, not cronies.  The rule of law and property rights need to settle in and take over from arbitrary rule so that investment can be confidently made.  And finally the free exchange of ideas is required to foster creativity.  All of these issues are an anathema to authoritarian regimes so I do not fear China as an economic power since their leaders will hold them back.

Japan The Model

Paul Krugman is beating the drums for his rear view perspective again, but this time using Japan as the exemplary job creating model.  Repeat after me Paul. "Politicians do not create jobs."

The Corporate Tax Dodge

Steven Rattner's plea for fairness when dealing with the likes of Apple's profits means greater collection costs and therefore less benefit to society by imposing them. The purpose of taxes is to fund government operations that benefit society which gets none from bigger tax bureaucracies overseeing arcane transfer pricing schemes that get out gunned by the superior legal and tax counsel utilized by corporations with means and incentives to avoid them. Successful corporations eventually distribute profits either through dividends or stock repurchases, so let them play their games and tax wages,  dividends and capital gains at one low simple level.        

Marijuana dealer moves to New York

Listening to NPR on the way home with a dealer in a disguised voice telling of his need to move to New York because there is no money in selling weed in California, where its semi  legal in the guise of medicinal prescriptions.

It's the authoritarian element of the Republican Party that keeps putting it at odds with the younger electorate. Just as the GOP's opposition to single sex marriage is a loser so is their opposition to the legalization of marijuana.   Young well educated voters understand the basic economics of shortage raising prices to levels where crime pays sufficiently to corrupt the crime stoppers.  Regulating and taxing the marijuana business is not a Libertarian nor Authoritarian ideal, but I would make the exception.  I doubt Republican's would on their side.

Good luck with that

While the IRS's focus on the Tea Party is inexcusable, it's not going to get the GOP any traction with the electorate. Obama has a favorable economic wind back on his back and, while Fox news is all wound up, it will be forgotten shortly.


For Tea Party Groups, Shades of 2010

Republicans are losing the Economic Argument

Today's front page New York Times "Budget Deficit Shrinks Faster Than Expected" is an indicator of a gentle economic wind on the back of the Obama administration that could put them in a position to promote "it's morning again" for the congressional 2014 campaign, as did the Reagan campaign of 1984.

The Clinton versus W. Bush years put a lie to a positive Republican stewardship of the economy where neocon interventionist threw us into a depressed decade similar to the seventies Viet Nam debacle.  The favorable current economic wind on Obama's back comes partly from the Iraq pull out in a manner very similar to the military wind down that Clinton enjoyed after the first Iraq war.  Other good news for the economy is popping up all over so that it's enough to make an Obama hating Republican cry.  The housing bubble is showing signs of of supply realigning with demand with real economic basis to current transactions.  The average age of autos has reached a level where there is real and profitable demand for replacement cars and trucks.  In spite of an Energy Department trying to kill hydrocarbons clean natural gas is gushing out in the U. S. where we will become energy independent shortly putting us and the world less at risk with middle eastern oil tyrants.

This economic trend puts the Republican party at risk of being stripped bare to its authoritarian bones. It's ugly when you decry the nanny state when you are a nanny saying no to immigration, same sex marriage and drugs.  On the other hand, I suspect the GOP truly can't abide free market capitalism in spite of all their protestations that they do. Crony capitalism is more their flavor.