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 Richmans' Trade and Taxes Blog



The Man-Made-Trillion-Dollar-Climate Warming Hoax
Raymond Richman, 8/19/2019

Man-Made-Trillion-Dollar-Climate Warming Hoax

The following items are excerpted from two recent articles on climate change that the media and pundits alike ignored. Indeed, Pundits like Paul Krugman and US leaders like Sen.Lindsay Graham are making a push to force Pres. Trump to change his position and to enact curbs on the use of fossil fuels. Almost all of the Democratic candidates for president take the same position. Countries around the world have already spent hundreds of billions of dollars to promote wind and solar sources of energy and continue to subsidizes electric vehicles making hundreds of millionaires.

 

The source of the first is RT.com. Published 12  and 13 Jul, 2019

A new study conducted by a Finnish research team has found little evidence to support the idea of man-made climate change. The results of the study were soon corroborated by researchers in Japan. ...

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The Delusional Wall Street Journal
Howard Richman, 8/11/2019

Trump Derangement Syndrome has not only affected Democrats. It has also affected some of those on Wall Street who oppose Trump's trade-balancing agenda. On Thursday, the Wall Street Journal (A Navarro Recession?) suggested that Monday’s stock market slide heralded a recession which they blamed on White House Trade Advisor Dr. Peter Navarro's unreasonable stance on China. But later that day the stock market rose, for the third day in a row, erasing Monday's slide.

In the same editorial they claimed that China had stopped manipulating its currency in 2014. But a few days earlier the Chinese government had forced the yuan through the 7 yuan per dollar barrier, and on Monday (August 5) Secretary of Treasury Steven Mnuchin determined that they were a currency manipulator. Meanwhile the price of gold has been surging, probably because China has been accumulating gold as a byproduct of its currency manipulations.

Mnuchin's declaration showed off yet another delusion in the Wall Street Journal editorial, that Navarro is somehow isolated within the administration. To the contrary, the President has put together an economic team that is working very well together. Treasury Secretary Mnuchin wasn't the only one to act this week. On Tuesday (August 6) Commerce Secretary Wilbur Ross slapped a 230% countervailing duty on two Chinese cabinet makers. 

In the words of Sundance at the Conservative Treehouse, President Trump has put together "an incredible team, delivering astonishing results." In fact, the U.S. economy is now in the midst of our longest period of expansion ever, largely due to three of Trump's actions:

  1. Business income tax cuts that make it less expensive to produce in the United States.
  2. Cuts in costly business regulations.
  3. Tariffs, tariff threats, and negotiated trade agreements which have encouraged growth-producing business investment in the United States.

Because Navarro has been in the WSJ crossfires this week, he has been interviewed frequently. Unfortunately, his interviewers have tended to interrupt him constantly. Here's the rare interview in which he was given a chance to lay out the administration's reasonable goals in its negotiations with China:...

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    Wikipedia:

  • [An] extensive argument for balanced trade, and a program to achieve balanced trade is presented in Trading Away Our Future, by Raymond Richman, Howard Richman and Jesse Richman. “A minimum standard for ensuring that trade does benefit all is that trade should be relatively in balance.” [Balanced Trade entry]

    Journal of Economic Literature:

  • [Trading Away Our Future] Examines the costs and benefits of U.S. trade and tax policies. Discusses why trade deficits matter; root of the trade deficit; the “ostrich” and “eagles” attitudes; how to balance trade; taxation of capital gains; the real estate tax; the corporate income tax; solving the low savings problem; how to protect one’s assets; and a program for a strong America....

    Atlantic Economic Journal:

  • In Trading Away Our Future   Richman ... advocates the immediate adoption of a set of public policy proposal designed to reduce the trade deficit and increase domestic savings.... the set of public policy proposals is a wake-up call... [February 17, 2009 review by T.H. Cate]