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 Richmans' Trade and Taxes Blog



Lazy Analysts at CNBC, Bloomberg, and the Wall St. Journal
Raymond Richman, 9/19/2011

The report last Thursday morning that there were 428,000 initial unemployment claims during the week of September 10, an increase of 11,000 was FALSE. The media, including those which should know better, reported those numbers. Those numbers are so-called "seasonally adjusted" and are totally without merit. They are not credible. 

 The number of actual claims was 325,999, more than 100,000 fewer, and there was no increase in claims in claims but an actual decrease in claims of 22,495.

 The actual number of claims filed is consistent with a more or less stagnant stable economy.

 Aside from some unexpected calamity, what threatens the U.S. economy are 1.) continued restrictions on the production and use of oil, coal, and natural gas, 2.) continued growth of the trade deficits, 3.) continued foolish enormous expenditures on so-called green energy, and 4.) increased regulation of business and financial institutions by the federal government.

 The federal government will have to deal with all of these to achieve economic growth.

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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]