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Why Politics Breeds Divisive Fears and Angers

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The recent presidential election confirms and reinforces what many political observers and common citizens have increasingly known and noted: Americans are seriously divided over the problems they see facing society, and the means and methods to solve or reduce their impact on all of us. This division of views is, of course, partly shown in the number of votes cast for the two major political party candidates in the 2020 presidential election. With the final tally still not completed, over 75.2 million Americans voted for Democratic Party candidate, Joe Biden, and more than 70.8 million voters cast their ballot for the incumbent Republican president, Donald Trump. While the votes separating them number at least 4.4 million, that represents barely a 3 percent difference between them from a total of more than 146 million votes, combined, that they received. Another way of saying this is that nearly 48 percent of these voters supported the losing candidate. Hardly a landslide or an unequivocal ...

Anti-Mask Isn’t Libertarian

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Ever since Covid 19 surfaced last spring, there has been a fierce debate over whether people should wear masks. Some people, including virtually everyone in the government, have argued that masks inhibit the spread of the coronavirus. Others have maintained the contrary, or have maintained that it’s their own business as to whether they wear a mask or not. Throughout the controversy, there have been a number of libertarians who have taken the anti-mask position. Some of them say that that’s the position that is consistent with the freedom principles of the libertarian philosophy. Such libertarians are in error, however. The libertarian philosophy is neither anti-mask nor pro-mask. Libertarianism does not dictate how people should exercise their freedom. The philosophy simply holds that people should be free to decide this issue for themselves. What about government edicts, orders, laws, and regulations requiring people to wear ...

Unhinged…..And Then Some!

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Jerome Powell puts you in mind of the boy who killed both of his parents and then  threw himself on the mercy of the court on the grounds that he was an orphan! That’s what JayPo essentially did in his presser yesterday while trying to explain that the  most hideous equity market bubble in history is actually not that at all: “If you look at P/Es they’re historically high, but in a world where the risk-free  rate is going to be low for a sustained period, the equity premium, which is  really the reward you get for taking equity risk, would be what you’d look at,”  Powell said. “Admittedly P/Es are high but that’s maybe not as relevant in a world where we  think the 10-year Treasury is going to be lower than it’s been historically from a  return perspective,” Powell said. Right. The Fed has essentially murdered the bond yield. So relatively speaking, grossly  inflated stocks are a bargain compared to dead-in-the-water ...