America is in a miasma of political correctness.
For housing finance, as house prices rise above their trend, reduce the allowable loan-to-value ratios and increase required down payments, and put heavier capital requirements on the mortgage loans of lenders, writes AEI Scholar Alex J. Pollock in Housing Finance International: the Quarterly Journal of the International Union for Housing Finance.
On average, this expanded US Social Security would be about 10% more generous than the Greek pension system. Make your own judgments.
All the wonderful qualities of Scandinavian society “predated the development of the welfare state” and “all these indicators began to deteriorate after the expansion of the Scandinavian welfare states and the increase in taxes necessary to fund it,” argues Nima Sanandaji.
San Francisco raised its minimum wage by 14% on May 1, and guess what just happened? Chipotle raised its prices at its restaurants in the city between 10% and 14%.
Iraqi Kurdistan is learning the hard way that spin cannot trump substance, and that corruption and poor management matter to investors.
Can we ever correct the current institutionalization of endless government interventions and monetary manipulations? Can we ever correct “the very dishonesty and duplicity that is so common in the pronouncements of all governments, today and in the past”?
The sooner Greece and their political elites return to reality and abandon the fantasy of a radically better deal with the Troika that would somehow exonerate them of the need to pursue deep economic reforms, the better for everyone involved.
Even in a leftist nirvana in which all corporate profits are redistributed to labor, the average per hour wage increase would, roughly, only be on par with the current level of the federal minimum wage.
In The Washington Post today, I argue that our country is in the grip of a miasma of political correctness – erasing all symbols of our past that do not conform to modern values we share today.