opinion Nan Swift Published 10:00 PM EST Jan 2, 2019 A classic rule warns, “If you find yourself in a hole, stop digging.” Unfortunately, Congress and the Trump administration continue to dig taxpayers deeper, as misguided reactions to the trade war have combined to increase the deficit, dampen economic growth and harm the environment. Throughout 2018, many new tariff or retaliatory action announcements dealt farm country a blow — including those actions aimed at our allies. Tariffs on steel and aluminum increased the cost of equipment, repairs and infrastructure construction. As the trade war dragged on, China responded with tariffs on commodities like soybeans, corn and pork. Soybeans have been particularly affected due to their short shelf life, limited storage options, and the fact that China was the number-one market — by a long shot — purchasing a quarter of the U.S. crop. Instead of reversing course or taking other action … [Read more...] about Handouts to farmers no substitute for free markets
PUBLISHED: 12:00 16 December 2018 Property is being bought by developers. Picture: PA PA Wire/PA Images Letters, contributions and comments sent in from Recorder readers this week. Lease of my home sold to developersMr A Still, York Road, Ilford, writes:I’m worried about the Labour council like Gwyneth Deakins.I live in an old house divided into four flats, quite modest ones. I bought mine, on leasehold, in 1950 after looking after my invalided parents from the age of seven (when the blitz started), until I was 50.I had to leave the tatty flat we were in when my mother finally died of vascular dementia. Don’t get me wrong, my folks were great, my dad was shot-up badly in World War I. It was an honour to care for them. When they were both gone, I was to told to leave the E11 flat.I put on life savings of £6,500 down as a deposit on this flat near my work at Harrison Gibson. I cleared a 25-year mortgage in 14 years by only buying essentials.Now the lease of this old … [Read more...] about Recorder letters: Developers buying, fur-free market, People’s Vote and Dementia care
SAO PAULO, Sept 26 (Reuters) - Brazil's real currency strengthened almost 1 percent on Wednesday as a poll showed right-wing presidential candidate Jair Bolsonaro in the lead, after previous polls had shown him giving up ground to his main leftist opponent. According to a poll by Brazil's Instituto Parana, 31.2 percent of respondents are planning to vote for Bolsonaro in the first round of the presidential election on Oct. 7, versus 20.2 percent for Fernando Haddad, the leftist protege of jailed former President Luiz Inacio Lula da Silva. Crucially, the poll showed Bolsonaro winning a likely second round later in October, with 44.3 percent of the vote versus Haddad's 39.4 percent. The poll came as welcome news to traders, who generally favor Bolsonaro for his avowed free-market policies, after a separate recent poll had shown Bolsonaro losing in a likely run-off. "The market liked the poll because it showed Bolsonaro rising, not stagnating," said Jose Carlos Amado, a trader at … [Read more...] about EMERGING MARKETS-Brazil’s real strengthens after solid poll for…
opinion Thomas J. Pyle Published 2:00 p.m. UTC Jul 18, 2018 The more than decade-old federal corn ethanol mandate, which picks winners and losers and harms American consumers, is broken beyond repair. It’s a textbook example of how politicizing energy policy – rather than letting the free market work – will always fail. The EPA’s most recent proposal seeks to increase the amount of renewable fuel – mostly corn ethanol – in our nation’s gasoline supply. This proposal, which is being discussed today in Ypsilanti, represents a further expansion of a broken policy that drives up prices at the pump for American families and small businesses by creating artificial and costly mandates on the energy industry that don’t make economic or environmental sense. Free market competition and private sector ingenuity over the past decade have transformed our nation’s energy outlook – creating enormous economic, environmental and … [Read more...] about Column: Fuel standards impede free market
opinion Ryan Young Published 3:00 p.m. UTC Jul 10, 2018 President Donald Trump’s tariffs on steel and aluminum against allies like Canada, Mexico and the European Union are only the latest skirmish in a long-term attack on America’s free-market economy. So now that Trump is also mulling tariffs on foreign automobiles, renegotiating the North American Free Trade Agreement, and raising trade barriers against China, will that finally be the death knell for free enterprise? Hardly. The president’s threats must be fought, but the good news is America’s fundamental institutions will withstand Trumpian bluster. For one thing, our economy remains a powerhouse. America’s $19 trillion economy already withstands an annual $1.9 trillion in annual regulatory costs from Washington. On top of that, Trump’s tariffs will cost “only” a few billion dollars. In short, the economy is dragging along a big, deadweight burden, but it can still get the … [Read more...] about Opinion: Will Trump’s tariffs kill free markets?