Stephen Moore from Creators Syndicate Creators Syndicate is an international syndication company that represents cartoonists and columnists of the highest caliber. en Fri, 06 Dec 2019 04:11:40 -0800 Stephen Moore from Creators Syndicate 3d3eff90e63b3b2a8bfefd60cd0d6df7 Congress Bans Short-Term Lending; the Poor Pay a High Price for 12/03/2019 Tue, 03 Dec 2019 00:00:00 -0800 <p>Washington do-goodism almost always fails to help the people it is supposed to because politicians ignore the Law of Unintended Consequences. Nowhere is that more evident than when it comes to a congressional plan to put payday lenders and other short-term lending institutions, such as the burgeoning online lenders, out of business.</p> <p>These are lenders that provide the service of last-minute or emergency loans &#8212; typically of between $100 and $600 &#8212; to mostly low-income Americans or those with poor credit scores. Liberal "consumer advocacy groups" and liberals in Congress demonize these companies as modern day Shylocks, the nefarious lender in Shakespeare's "The Merchant of Venice" who demands a pound of flesh if loans aren't repaid on time. </p> <p>Reps. Jesus Garcia, D-Ill., and Glenn Grothman, R-Wis., are the cosponsors of a bill called the Veterans and Consumer Fair Credit Act (the bill has nothing to do with veterans, and several veteran groups have written to complain of this ruse). It would cap interest rates on short-term and emergency loans at 36%. Critics of short-term lenders say they "target" low-income and minority Americans. The left says this new law would "save" low-income Americans between $5 and $10 billion a year.<p>Updated: Tue Dec 03, 2019</p> b048c635eefe42848b571b1bef03f751 How America Can Still Win the Race to 5G Wireless Technology for 11/26/2019 Tue, 26 Nov 2019 00:00:00 -0800 <p>The Federal Communications Commission has thrown a curveball into the global race for deployment of 5G &#8212; the much-anticipated fifth generation of cellular and wireless technology. FCC Chairman Ajit Pai has announced his support for a government-run auction of an underutilized 500-megahertz space on the electronic spectrum that cellphone carriers like AT&T and Verizon need to deliver 5G wireless services.</p> <p>It had been widely believed that this valued spectrum now under lease by the satellite companies and others would be transferred to the cellular communications companies through a quasi-private auction. The revenues from this auction of unused spectrum rights are estimated at between $10 billion and $30 billion. </p> <p>This latest policy shift by the feds potentially raises two concerns that the FCC will need to address if it moves forward on this path. <p>Updated: Tue Nov 26, 2019</p> 66579d7c2b797e2716f4c9b96ae631c8 Trump Needs Tax Cut 2.0 for 11/19/2019 Tue, 19 Nov 2019 00:00:00 -0800 <p></p><p>Every single plausible Democratic candidate for president has endorsed tax increases as a centerpiece of their economic agenda. Think about what we are hearing from Elizabeth Warren, Joe Biden, Bernie Sanders and the rest of the "Punch and Judy" show: new wealth taxes, carbon taxes, energy taxes, higher death and income taxes with rates up to 70%. Payroll taxes would rise to pay for Social Security benefit expansions and Medicare for All.</p> <p>I remember a time when liberal Michael Dukakis, running against George H.W. Bush, declared he would only raise taxes as "a last resort." Now Democrats think raising taxes on employers, investors, companies and the wealthy is some kind of badge of honor and the option of first resort. They also cite a few outlier economists who tell them what they want to hear: that tax rates of 50% to 70% or more won't hurt the economy at all. Yes, and Warren is of Native American descent.<p>Updated: Tue Nov 19, 2019</p> dfac7ebb2b42decbffbf86867cbc9b74 The Post and Liberal Media Again Get It Wrong About Trump Economy for 11/12/2019 Tue, 12 Nov 2019 00:00:00 -0800 <p></p><p>First, a full admission about this article: I originally sent a version of it to The Washington Post for publication, but for reasons that will become obvious as you read on, they rejected it. </p> <p>Here's the backstory. Several weeks ago, I reported on the very large increase in median household incomes under Donald Trump. Based on Census Bureau monthly data, from January 2017, when President Trump entered office, through August 2019, middle-class household incomes rose from $61,000 to an all-time high of $66,000. These numbers are in 2019 dollars &#8212; that is, they are adjusted for inflation. Trump has repeatedly cited these numbers. <p>Updated: Tue Nov 12, 2019</p> b372e0a84656582d1a8aa7b66ea8812d Nancy Pelosi's Stall Tactics Hurt America's Economy for 11/05/2019 Tue, 05 Nov 2019 00:00:00 -0800 <p></p><p>Wouldn't it be wonderful if for one brief shining moment in Washington, Congress put good policy over politics &#8212; and passed a bill that would benefit American workers, investors and businesses? </p> <p>We haven't had a true bipartisan victory in Washington for seemingly ages, but we are tantalizingly close to getting there. This would be the passage of the U.S. Mexico Canada Trade Agreement (USMCA). <p>Updated: Tue Nov 05, 2019</p> 9bc26991d64e42ac7ef35b951da933ed Trump Economy Surges, Biden and Obama Hog the Credit for 10/29/2019 Tue, 29 Oct 2019 00:00:00 -0700 <p></p><p>Joe Biden is at it again &#8212; living in his own parallel universe. The same former vice president who says that his son Hunter was hired by a Ukrainian oil and gas company because of his expertise in energy policy is now claiming that President Donald Trump has "squandered" the strong Obama economy he inherited. </p> <p>Here is how Biden put it in a speech last week in Scranton, Pennsylvania: "Donald Trump inherited a strong economy from Barack and me." Then he added: "Things were beginning to really move. And just like everything else he's inherited, he's in the midst of squandering it."<p>Updated: Tue Oct 29, 2019</p> fb18f6c15e4ee2489ceece55357a3c62 Washington Subsidies Not Helping the Wind Industry for 10/22/2019 Tue, 22 Oct 2019 00:00:00 -0700 <p></p><p>Last week, the lobbying arm of the wind energy industry made an unsurprising, though somewhat embarrassing, announcement. It wants a longer lifeline with federal subsidies. So much for wind being the low-cost energy source of the future.</p> <p>Less than a year ago, the American Wind Energy Association with great fanfare issued a press statement that, as Bloomberg reported: "America's wind farms are ready to go it alone." Sen. Chuck Grassley of Iowa, a Republican who has strongly supported the wind industry since the days of federal support began in 1992, boasted that the wind industry had finally "matured" and wind farms were "ready to compete."<p>Updated: Tue Oct 22, 2019</p> 688bc9900c3cd729a78295c5bd5f528e It's a Middle-Class Boom for 10/15/2019 Tue, 15 Oct 2019 00:00:00 -0700 <p></p><p>How much of the monetary gains from the Trump economic speedup have gone to the middle class? If you ask Democratic senators and presidential candidates Elizabeth Warren, Kamala Harris and Bernie Sanders, the answer to that question is ... almost none.</p> <p>"(Donald) Trump's economy is great for billionaires, not for working people," Sanders likes to say. Meanwhile, House Speaker Nancy Pelosi grouses that under the Trump agenda, "the rich get richer, and everyone else is stuck paying the bill."<p>Updated: Tue Oct 15, 2019</p> 9f245a127fb6d888531eda480cbc1129 What the Presidential Candidates Are Missing: Economic Growth for 10/08/2019 Tue, 08 Oct 2019 00:00:00 -0700 <p></p><p>While running for president in 1960, John F. Kennedy campaigned against the moderate growth economy (2.5% annual GDP rise) in the last years of the Eisenhower administration. He appealed to Americans' highest aspirations by saying in his typical Boston drawl: "We can do bettah." JFK promised 4% and 5% rates of annual economic progress for the nation &#8212; and he delivered.</p> <p>Those were the days.<p>Updated: Tue Oct 08, 2019</p> 79c0f27f6351a51e7f6eb9d16a1b2c96 'Stop Scaring the Children' for 10/01/2019 Tue, 01 Oct 2019 00:00:00 -0700 <p></p><p>A friend of mine's third grade daughter came home from school a few weeks ago with tears streaming down her cheeks. "My teacher says we only have 10 years before the oceans rise and we are underwater," she moaned. "Are we all going to die?"</p> <p>That's a heavy burden to place on the shoulders of a 9-year-old.<p>Updated: Tue Oct 01, 2019</p> a0301175d2dd51873645da0439763e37 Rebuilding America's Domestic Uranium Industry for 09/24/2019 Tue, 24 Sep 2019 00:00:00 -0700 <p></p><p></p><p>The following column is co-authored by Stephen Moore and&#160;Ned Mamula.<p>Updated: Tue Sep 24, 2019</p> 0f36629fd2256deff033eca528c92177 Renewable Energy Will Only Be Possible With Massive Increases in the Supply of Critical Minerals for 09/17/2019 Tue, 17 Sep 2019 00:00:00 -0700 <p></p><p>The recent threats by Beijing to cut off American access to critical mineral imports has many Americans wondering why our politicians have allowed the United States to become so overly dependent on China for these valued resources in the first place.</p> <p>Today, the United States is 90% dependent on China and Russia for many vital "rare earth minerals."<p>Updated: Tue Sep 17, 2019</p> c26459966c381fc2a7f304833eaa3a44 Democrats Once Again Embrace Population Control to Save the Planet for 09/10/2019 Tue, 10 Sep 2019 00:00:00 -0700 <p></p><p>Is the left once again embracing Malthusian population control in order to save the planet? </p> <p>Of all the preposterous proposals put forward by the Democratic presidential candidates during the CNN climate change town hall meeting last week, the dumbest wasn't outlawing plastic straws, incandescent light bulbs or air travel. It wasn't the contention that climate change is the globe's greatest threat since World War II. It wasn't even the fantastical hypothesis that hurricanes are racist because they target "communities of color" more than white areas. <p>Updated: Tue Sep 10, 2019</p> 848b8eb0ba03986479b4828b82926fd2 Natural Gas, America's Wonder Fuel for 09/03/2019 Tue, 03 Sep 2019 00:00:00 -0700 <p></p><p>One of the many idiocies of the "Green New Deal" and other such anti-fossil fuel crusades is that all of this arrives on the political scene at a time when the price of producing energy from fossil fuels is lower than at any time before in human history. </p> <p>The Wall Street Journal reported last week that natural gas prices "in Europe and Asia have plummeted this year to historic lows." Meanwhile in the United States, the natural gas price is flirting with a price of $2 per million BTUs. This means natural gas prices have fallen by 80% since 2005 and the advent of the shale gas revolution.<p>Updated: Tue Sep 03, 2019</p> 717b43c5751ab6b9784de393aee1dd2d Democrats Rooting for Recession for 08/27/2019 Tue, 27 Aug 2019 00:00:00 -0700 <p></p><p>Last week, I gave a talk to high-wealth investors in San Francisco &#8212; not exactly an audience of left-wing activists &#8212; and people kept asking me the question of the day: "Will there be a recession?" My reply: I'd never say never, but I don't see a recession in 2020. And if we get a trade deal with China, the economy is going to soar. </p> <p>What was disconcerting was the audience reaction. Many people frowned. One woman shouted at me: "I want a recession so we can get rid of Trump."<p>Updated: Tue Aug 27, 2019</p> 743eb81dee5d44b69d11e9739ac78b27 Why Trump Should Stop the Reregulation of Freight Rail for 08/20/2019 Tue, 20 Aug 2019 00:00:00 -0700 <p></p><p></p><p>The following column is co-authored by Stephen Moore and&#160;Jonathan Decker.<p>Updated: Tue Aug 20, 2019</p> 50eed00f4ba2f0a99f376a0642bebc07 Sending an SOS to the Federal Reserve for 08/13/2019 Tue, 13 Aug 2019 00:00:00 -0700 <p></p><p></p><p>The following column is co-authored by Stephen Moore and Louis Woodhill.<p>Updated: Tue Aug 13, 2019</p> 8a663d7af9fa71406b668901d1924ef3 Why the Fed Shouldn't Compete With Private Banks for 08/06/2019 Tue, 06 Aug 2019 00:00:00 -0700 <p></p><p>Do we want the U.S. Federal Reserve Board to operate as a commercial bank &#8212; and compete with our private banking system? The Fed apparently wants to, and it's a policy shift that could greatly expand the mission of the Fed.</p> <p>Last week, while most of the world's Fed watchers were focused on interest rate changes, another key Federal Reserve decision was buried in that news cycle: The Fed is moving in on the real-time payments business. This is the business of speeding up financial transactions between people and financial institutions.<p>Updated: Tue Aug 06, 2019</p> 891943d8da68aeac2b36d527dcaf3a24 Why the Fed Is Right to Inject the Economy With More Dollars for 07/30/2019 Tue, 30 Jul 2019 00:00:00 -0700 <p></p><p>Suddenly, nearly everyone wants the Federal Reserve Board to cut interest rates. I've been arguing for this for nine months, so it's nice to see the economic intelligentsia is finally persuaded. The Fed has become a restraint on growth since last August thanks to ill-advised interest rate increases (and promises to raise rates more in 2019), which slowly squeezed out of the economy dollar liquidity and tanked the stock market. </p> <p>Fed Chairman Jerome Powell is finally signaling a rate cut by 0.25 of a percentage point next week. This almost certainly will be accompanied by a reduction in the interest rate the Fed pays banks on reserves. That policy has reduced bank lending and shrunk the money pool as well. The stock market has reacted bullishly in anticipation of this decision to inject the economy with more dollars. <span class="column--highlighted-text">The Fed's primary job should be price stability with minimal inflation, but for many months now, inflation has fallen below its standard target.</span> <p>Updated: Tue Jul 30, 2019</p> a2cdbeae1dabd46bdff32eff3e734347 'Who's Afraid of Cryptocurrencies?' for 07/23/2019 Tue, 23 Jul 2019 00:00:00 -0700 <p></p><p>Finally, we seem to have a bipartisan consensus in Washington. Both parties are terrified of new private money, and they want to regulate it out of existence. The near universal fear and loathing by government officials of these so-called cryptocurrencies is all the more reason they should exist. </p> <p>A cryptocurrency is a privately sponsored and operated form of money that is not supplied by government. Bitcoin has already been traded for years, but the new leading horse is the multibillion-dollar Libra, which Facebook is creating. <p>Updated: Tue Jul 23, 2019</p>