Financial Review

Mar. 27, 2019 – Links

What we are reading today:

Losers Outweigh Winners as Trump’s Metal Tariffs Start Year Two – Bloomberg. Trade wars are not easy to win, contrary to some pronouncements. If there were an Economists’ Creed it would surely include the affirmations, “I believe in the Principle of Comparative Advantage” and “I believe in free trade.” Or to state it more bluntly, when goods cannot cross borders, armies will.

Donald Trump is very committed to taking away your health insurance – Vox. The GOP’s focus is on repeal, but we still have seen the replacement. This move guarantees that health care will be a major issue in 2020.

Recessions, and the fear that another one is just around the corner, explained – Vox. What do you think? Will we see a recession in the next 12 months?

Bill That Would Restore Net Neutrality Moves Forward Despite Telecom’s Best Efforts to Kill it – Vice Motherboard.  Last month, GOP legislators marked-up legislation to try to water down a bill to restore net neutrality; the markup process drew 300,000 viewers to a live stream of the process. This basically boils down to the Big 5 telecom companies squaring off against almost everyone who uses the internet. This is also a measure of lobbying money influence in Washington.

Supreme Court’s Conservative Majority Is Worried That Every Vote Might Count Equally – Mother Jones. SCOTUS hears arguments on gerrymandering.  Who does not want their own vote to count?

McConnell blocks resolution calling for release of Mueller report for second time – The Hill. Why, it almost seems like Mitch doesn’t want to see the evidence behind the “total and complete exoneration.”

“We Are in Deep Trouble”: Carbon Emissions Break Record in Devastating Global Setback – Washington Post.  Climate policies are not even enough to offset increased emissions from economic expansion, and fossil fuels are to default energy source. On Tuesday in the Senate, Mike Lee, Republican senator for Utah, spent several minutes on the floor showing pictures of Luke Skywalker on mythical giant seahorses and Ronald Reagan shooting off a machine gun while mounted atop a dinosaur. This was his bid to “treat the Green New Deal”, which came up for a vote in that body on Tuesday, “with the seriousness it deserves”.

Trump says hurricane-hit Puerto Rico has received too much aid – The Guardian. The official government death toll now stands at 2,975. The island’s suicide hotline, Línea PAS, saw a 246% increase in calls. So, yea, they still have a long way to go on the road to recovery.  HUD Inspector General has opened an investigation to determine whether the White House interfered with the distribution of millions of dollars in disaster aid for Puerto Rico.

The Fed takes on climate change – Axios. SF Fed report details the potential financial, economic and monetary policy implications of global warming. Earlier this year, all 4 of the still-living former Fed chairs joined nearly 30 Nobel economists and all but 1 former chair of the White House’s Council of Economic Advisers in signing a statement of support for a carbon-tax policy. The Green New Deal may, or may not, be costly to put in place but doing nothing to combat climate change has even more profound costs.

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