Friday Five January 24

The administration is focusing on the growing income inequality that they claim exists in the United States. Never mind the fact that this is happening on their watch or that this entire argument assumes a zero-sum game. This blog post adds a different perspective – one that may change your thinking on the income inequality push.

If you blog on the internet – as I am doing right now – then your blogging is entitled to the same protections as those afforded to journalists. At least that’s the ruling of the United States Court of Appeals for the Ninth Circuit. This protects internet speech in our country – something that is needed if we’re to stem the tide of government censorship on unwanted speech that is politically abhorrent to those who hold power at any given time.

In Oregon, a Christian couple who own a bakery have denied services to a gay couple seeking a wedding cake for their wedding. They gay couple sued on grounds of discrimination. The Bakery owners believe their religious beliefs give them the right to refuse to offer services that violate those beliefs. This is a slippery slope. I own a training company. Should I be forced to provide training to a company that traffics in adult pornography? What if I have a religious belief against gambling? Can I deny my company’s services to Indian Reservations who derive income from their casino operations? What do you think?

Our national debt is approaching $17.3T. Nearly $5T is debt that the government owes itself. The debt owed to the public is less than $13T. That’s still a lot, but it’s not as bad as all of the $17T being owed to the public.

And I quote: “The bottom line is that corporations are profitable, the stock market is doing very well, the FRB is pushing on a string to create job growth, and corporations have no incentive to do a lot of hiring. This leaves us with a Fed that will keep Quantitative Easing in place and thus create more potential for inflationary pressures and problems in the future.” Seems to me to be about right. The longer QE goes on, the more likely it is we’ll face a significant inflationary economy in the future.

Bill English, CEO