RichardCYoung.com

VIDEO: VP Biden Stokes Class War While Economy Burns

The Editors — Fri, 18 May 2012 14:20:58 +0000

“Hewlett-Packard Co. plans to cut its workforce by 25,000 to 30,000 employees…a record number for the venerable technology giant as it grapples with declining revenue and profits…The cuts rank among the largest by big U.S. companies since the financial crisis triggered a recession in the fall of 2008.”—Wall Street Journal, 5/18/2012

Kurt Bills for U.S. Senator from Minnesota

The Editors — Fri, 18 May 2012 12:00:18 +0000

Minnesotans have a great opportunity this year. They can elect a Senate candidate who respects the U.S. Constitution and supports free market reform and liberty for Americans. That candidate is Kurt Bills.

Bills is currently a member of the Minnesota House of Representatives and teaches economics at Rosemount High School. Bills’ platform is one of a strong supporter of the Constitution. Richardcyoung.com is proud to endorse Kurt Bills for United States Senate.

Federal Reserve Bank - Prices are signals. The price of money is known as the interest rate. It is the most important price in a free enterprise system. The policy of printing more money decreases interest rates and the value of our dollar. This affects the ratio of dollars in circulation compared to the amount of goods and services available. It is the root cause of inflation and the business cycle. Monetary policy and devaluation of our dollar is a GIANT that we face. We all work for, spend, invest, or borrow money. Printing money causes the most regressive form of taxation…the inflation tax. Stealing the purchasing power of working class people by printing money keeps interest rates low and encourages people to go further into debt rather than save. This is one of the most morally corrupt policies I have witnessed in my study and teaching of economics. The solution is to audit the Fed and, at minimum, change its dual mandate from promoting full employment AND providing price stability to simply promoting price stability. I will work for a stronger approach to allow working class people to be paid in wages that maintain or grow their purchasing power.

National Defense - According to the constitution, the most important role of the federal government is our national defense. I agree with “peace through strength.” I do not agree with spreading our military so thin around the world that it compromises our men and women and their effectiveness. Furthermore, Congress must declare war according to our constitution. I will work for keeping the US military out of nation building and ill-defined missions. I will work to make sure the US military is equipped and prepared to perform its mission to defend and protect the lives of American citizens.

Federal Budget - The United States Senate should pass a budget; they haven’t since April 29, 2009, which is over 1,000 days. Our national debt now exceeds $15 trillion and is the direct result of unsustainable spending. If we want our children and our grandchildren to live with the same liberty and prosperity that we have, we must reverse this trend. Federal spending per household has grown more than 150% since 1965. The answers are straightforward. As your next U.S. Senator, I will work with fellow members to pass a budget, along with focusing on lowering spending. Unsustainable spending can be curbed by the federal government focusing on what it was designed to do as defined by the constitution.

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E.J. Smith — Thu, 17 May 2012 12:30:29 +0000

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Steve Schneider — Thu, 17 May 2012 12:00:43 +0000

The #1 Economic Think Tank in the World and My Go-To Source!

Richard C. Young — Wed, 16 May 2012 17:22:14 +0000

OK, so I am savagely biased, but not without good reason. Four decades ago I worked with a gentleman I found to be uniquely independent. That most capable fellow, Bob Levy, is today the internationally admired chairman of the Cato Institute. When I learned of Bob’s new focus, I immediately suggested we get together to find out how Debbie and I could become involved with Cato. We met with Bob and his energetic wife, Diane, at First Watch in Naples, Florida, not far from Home Base Levy. We were off and running. Shortly thereafter, Bob, Cato president Ed Crane, Matt and I met at our family investment office on Fifth Avenue, Naples, for a formal introduction to Cato. Since then, Debbie, Matt and I have attended many Cato strategy sessions and have gotten to know a number of Cato’s scholars. Our clients have benefited mightily from the association we have developed and the invaluable insights Cato has provided. Talk about first class research.

For decades I have avoided meetings and get-togethers of any sort. The single exception I have made is my now deep involvement with the politically independent Cato Institute. As a punctuation note, I have made a significant financial contribution to the Ed Crane/Bob Levy-led think tank and have become a Club 200 Cato supporter. Recently I increased my annual financial support to Cato in the face of an effort, as I understand it, by the conservative and well-regarded Koch brothers to push Ed and Bob aside and place themselves and their minions at the Cato helm. I am hopeful that a reasonable resolution will be found by Ed, Bob and the brothers to the benefit of all concerned. The linked letter here is indicative of the powerful support Ed and Bob enjoy worldwide.

If you have been with me over the decades, you know that I do not mince words and that I take strong independent stands across the board. You also know that I am neither Republican nor Democrat and generally in line with positions put forward by Ron and Rand Paul and, for emphasis, Pat Buchanan. Beyond his Supreme Court appointments, I analyze the George Bush presidency as a failure and the White House residency of Marxist-influenced (without question) President Obama as an incomprehensible tragedy as well as a powerful threat to America’s Federal Republic form of government. With stunning regularity, the still independent Cato institute offers a focused and powerful set of guidelines and strategies to maintain the sort of Federal Republic envisioned by Thomas Jefferson. I am proud to be a contributor to the effort.

Louisiana’s Education Revolution

The Editors — Wed, 16 May 2012 12:00:06 +0000

It can take a clean slate to produce radical improvement. In Louisiana, Hurricane Katrina cleaned the slate, and Gov. Bobby Jindal has produced the radical improvement. The governor has spearheaded radical education reforms that will produce better students, reward successful teachers, and wash out those teachers who don’t make the grade.

Some of the reform provisions signed into law by Governor Jindal are listed below. Every state education commissioner and governor ought to read and reread the provisions of the three laws that make up the Louisiana reforms and take them to heart.

HB 974 by Rep. Carter

Under this law, more specific performance targets that consider student achievement and recruiting and retaining effective teachers would be required in the contracts of superintendents in C, D, and F districts.
The law also requires school boards to delegate to the superintendent and principals hiring, firing, and teacher placement power and authority to make reductions in force (RIFs) primarily based on effectiveness.
Additionally, this law gives districts the ability to construct their own salary schedules for new employees based on what they need—such as math teachers, teachers to work at high poverty schools, and performance. Under this law, districts can start rewarding current teachers based on performance and demand.
The law says layoffs and compensation will now be done based on merit rather than longevity alone.
The law also makes clear that tenure should be earned and not given automatically. Under this law, teachers would earn tenure after five years of highly effective ratings

HB 976 by Rep. Carter

First, this law gives parents more levers to affect change by allowing a school to become eligible for Recovery School District (RSD) intervention after three years of failing if at least 51 percent of parents at the school sign a petition to do so.
Second, this law creates three additional pathways to become a charter school and this legislation streamlines and improves the charter application process for all charter authorizers.
Third, this law gives students access to more courses regardless of zip code. Under current law, students are generally funded on a per pupil basis to attend one school full time. If the school they attend does not have the courses they need or want, the student doesn’t have many options for accessing these courses. This law creates a new type of entity that can offer individual courses to students. All students at public and private schools have access to these courses, but only certain students are funded.
Fourth, this law expands access to the Scholarship Program to students in C, D, and F schools or who are entering Kindergarten statewide whose parents make up to 250 percent of the Federal Poverty level.

SB 581 by Sen. Appel

There are many full time and part time early childhood educational and health programs that receive a total of $1.4 billion in state and federal funds per year, plus an additional $150 million for Head Start. The system is regulatory and focused on inputs, making it difficult for early childhood providers—public and private— to navigate. There is no measure of quality that gives parents actionable information.
Under this law, BESE would create a coordinated early childhood system by July 1, 2013 by doing four things:

Establishing a definition of Kindergarten readiness and setting performance targets for children ages 0-2 and academic standards for children ages 3-4 based on Kindergarten readiness and aligned to the Common Core Standards for K-12.
Creating a uniform assessment and accountability system for publicly funded programs that includes letter grades as clear actionable information for parents.
Coordinating with DCFS and DHH to align licensing standards for childcare priorities—specifically those receiving CCAP public funds – and align the Tiered Quality Improvement Rating System with this new accountability system. This will streamline and reduce red tape for providers so that dollars flow more easily and the system is easier to navigate according to a set of aligned program standards.
Including Head Start programs, which would have to participate in this new system and improve the quality of their programs as a condition of their licensing.

For the governor’s full press release click here.

Tucker Carlson on Election 2012

The Editors — Tue, 15 May 2012 14:02:48 +0000

JPMorgan: Swinging for the Fences

E.J. Smith — Tue, 15 May 2012 12:43:43 +0000

You’re Right to Live Here

E.J. Smith — Tue, 15 May 2012 12:00:25 +0000

South Carolina is a right-to-work state. You can’t be forced to join a union as a condition of employment. South Carolina is open for business. And the fact that it is a right-to-work state is the reason Boeing is building 787 Dreamliners there.

CEOs don’t have a problem with their workers. It’s the union leaders that are a wedge between them, like an unwelcome cousin Eddie at Christmas. CEOs and workers focus on delivering the goods. Union leaders focus on collectivism and the union dues.

Chief Executive Magazine has released its eighth annual survey of CEO opinion of best and worst states. The top 10 states are right-to-work states—every single one of them. The bottom 10 states are all forced-union states. No, wait a minute. Make that the bottom 20 states are all forced-union states.

And then there’s good ole New England—a forced-union mecca if ever there was one. New England’s states make a dismal showing through the 30s and 40s; thank you, Illinois, New York, and California. New Hampshire was the best performer in New England, ranked at 26—worse off by 8 spots than last year. Here’s what New Hampshire House Majority Leader D.J. Bettencourt had to say:

This survey showed that we are the still the best state for business in New England, but 26th is far from good enough for our residents. They deserve better, and we missed our chance to make a huge jump when Governor Lynch vetoed Right to Work. I appreciate that the magazine noted our work by saying that the “Statehouse continues tax-friendly ways and nurture[s] entrepreneurial spark,” but there is much more to do. With a Republican governor next year, we will be able to lower taxes on our employers, pass Right to Work, get out of cap-and-trade that is driving up our electric bills and reform our health care laws to bring the free market to lower costs.

There’s a breath of fresh air. Where’s the senior leadership from Rhode Island’s statehouse? Where’s the support for Nicholas D. Kettle, who has introduced a right-to-work bill in Rhode Island? This is not a Republican or Democrat thing.

Rhode Island has a unique opportunity to differentiate itself from other New England states. Citizens need to get on board. Make Rhode Island a right-to-work state, abolish state corporate taxes, and promote charter schools. Do that and business will come a knockin’. CEOs recognize Rhode Island as a great place to visit, but it could be a great place to do business.

Parents and grandparents need to get involved. This is not rocket science. It could be changed over a long weekend with the right participation. It’s time to get fired up. Union leaders and entrenched politicians have had a run of the state for too long. It’s time they’re shown the door so another can welcome businesses in.

What I Learned in Paris: Spring 2012 – Part 1

Richard C. Young — Mon, 14 May 2012 14:19:35 +0000

For the night of the presidential election results, Debbie and I positioned ourselves at Hotel Le Bristol (see Woody Allen’s Midnight in Paris), literally an eight iron shot from the front door of the Elysee Palace, the presidential residence. It was an exciting time to be in Paris, despite the unpleasant election results. But I learned something interesting: Sarkozy did himself little good in the last couple of years, and the French just could not get fired up enough to send him back for a second, unwarranted term. As for Socialist victor Mr. Hollande, a big yawn is in place. In that everyone and their uncle work for some government agency, most of the French are not going to get too lathered up by a boring fellow who is not going to get a lot done. When I suggest that putting Mr. Hollande in place may not be the best idea for the competitiveness of France, I’m asked if such is not exactly the same thing Americans face with President Obama.

It is indeed terrifying to think that the gentleman who has presided over America’s lost AAA bond rating could possibly be voted back in. Who in their right mind would vote for this guy? Do Americans look at employment (or lack thereof) statistics? How about home forclosures? How about the ongoing goat rope in Afghanistan, the farce of Mr.Bernake’s artificial interest rate environment, or the joke of Mexican border security? And that’s before we even touch upon two ghastly Supreme Court confirmations. And I’ll tell you what, give Barack Obama another shot or two at the Supreme Court and you can kiss the Second Amendment goodbye. If for a second you think not, you are not keeping current on what this administration is up to.

One of the many reasons Debbie and I decided a few years ago to set Paris as our international base is to better monitor international opinion about what is going on in America. Paris is the dominant city in the world for sophisticated high-end travelers. The wide breadth of international visitors offers no end of opportunities when it comes to opinions from folk who most definitely have an ax to grind. Mr. Hollande’s election has not been well received by the international business people I have spoken with, but as noted earlier, Mr. Hollande is treated with a yawn. On the subject of a return to office for President Obama, that usually elicits “you must be kidding” commentary. I have plenty to tell you about this trip’s research, and in upcoming installments of this series will share with you many useful tips on setting up a base in Paris as well as travelling and investing in France. I made three moves on our recent trip and will explain in detail in my next installment of WHAT I LEARNED IN PARIS.

RichardCYoung.com

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