Thursday, March 2, 2017

3-2-17 Great Guests for Your Show

1. Kerry Lutz: Congress is the Enemy of the People
2. Michelle Seiler-Tucker: Buffett’s Unmistakable Influence
3. Joseph Klein: Vetoes Sink Latest UN Security Council Resolution on Syrian Chemical Weapons
4. Michael Stumo: Fake Trade News - WTO Cases vs. Trade Wars

Congress is the Enemy of the People

Last week the state governors met with members of congress to discuss the fate of Obamacare. They were informed that the elimination of Obamacare would lead to disaster. States that participated in expanded Medicaid would lose billions in funding. Individuals who are receiving subsidies in the health insurance marketplace would wind up uninsured. Chaos would be the guaranteed result. In other words, the Republican controlled congress putting its collective head together is unable to come up with anything better than Obamacare. And what about our tax system? It’s a joke and has been for the at least the past 50 years. Sure, the media is dangerous, but they’re nothing compared to the U.S. Congress. As Justice Learned Hand once said, “The power to tax is the power to destroy.” Boy, if he had only known. [more...]

Buffett’s Unmistakable Influence

There are few American businessmen more influential than Warren Buffett. He has an investing track record which speaks for itself and Yoda-like reverence within the American economy. His advice, therefore, is beneficial to all investors and business people.
Buffett recently released his annual letter to shareholders of Berkshire Hathaway, the multinational conglomerate Buffett founded and spearheads. In it, he speaks to corporate executives, individual investors, and anyone looking for a key into the often unpredictable economy. The influence Buffett possess is unmistakable. His words echo both in corridors of New York skyscrapers and on railroad tracks in Omaha. And while his reputation precedes itself, it is Buffett’s wisdom year after year which many American business people listen to and act on. He might not have all the answers to achieving success, but his role as an activist investor should not be ignored. [more...]

Vetoes Sink Latest UN Security Council Resolution on Syrian Chemical Weapons

The Organization for the Prohibition of Chemical Weapons-UN Joint Investigative Mechanism (JIM), which was established in August 2015 under a unanimously approved Security Council resolution, was assigned the responsibility to determine who was responsible for a series of chemical attacks since 2013 that killed Syrian civilians. The independent expert panel concluded that there was sufficient evidence to determine that the Syrian government had used chemical weapons on three separate occasions from 2014 to 2015, while ISIS had used them at least once. With that conclusion in hand, the United States, United Kingdom and France introduced a draft resolution on February 28th imposing sanctions under Chapter VII of the UN Charter on Syrian government officials and entities linked to the chemical weapons attacks; placing an embargo on arms sales and chemicals intended to be used as weapons; and establishing a sanctions committee and panel of experts to monitor the implementation of these measures. Russia and China vetoed the draft resolution, which blocked its adoption. Bolivia also voted no. Nine Security Council members voted yes, and three abstained. [more...]

Fake Trade News - WTO Cases vs. Trade Wars

Fake trade news abounds. Periodically politicians, reporters or pundits who should know better warn of a "trade war," which, they fret, will happen if the U.S. defends its economic interests by taking action. That action could possibly be found unlawful by a World Trade Organization (WTO) set of unelected lawyers sitting as judges. Their hysteria is always in support of their argument to "do nothing, it'll all be fine." The most recent example of this version of fake trade news is the media/punditry class's false assertion that tax reform with border adjustability will violate the WTO and thus start a "trade war.” The House GOP tax plan could violate the WTO agreement due to its strange version of border adjustability, but it will not start a trade war. Anyone who asserts otherwise should be dismissed as uninformed or a special interest hack. [more...]

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