Gongol.com Archives: May 2019
The White House has issued a truly cockamamie executive order which claims that "domestic conditions of competition must be improved by reducing imports", and that the Secretary of Commerce "concluded that the present quantities and circumstances of automobile and certain automobile parts imports threaten to impair the national security". Toyota and Honda have both very prominently developed massive operations in the United States, as have other "foreign" automotive manufacturers. This idiotic government manhandling of the automotive industry is outrageous, and the crude deference to "domestic" versus "foreign" ownership is a relic of the 19th Century.
Everyone in the world should have to take a 30-minute crash course in economics, consisting of 10 minutes on tradeoffs, 10 minutes on unintended consequences, and 10 minutes on sunk costs. And the world would be a better place for it.
Ew. Just go home and watch Netflix.
Anyone who buys a stock and then complains that the price hasn't immediately escalated is just looking for a bigger fool to sell it to. If you really believe that a stock's price is too low, then you shut up and buy more.
Five states filed suit, joining 39 others that had already done so. Paragraphs 4 and 6 of the introduction to the Iowa filing really hammer the crux of the problem: The state's attorney general alleges that the drug was marketed under false pretenses that set up patients for addiction, including misrepresentation of the duration of expected relief from pain. That's an enormously serious allegation.
Iowa has huge advantages as an agricultural producer, and free trade lets us capitalize on them. This is great news. Naturally, there are consequences to competition, and some people will zero in on those. But there are consequences of technological change, too. And there are a bunch of other factors that create consequences, too.