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    Vitaliy_Kiselev
    Humor: President Biden as cryptosocialist
    • Start by paying people to do nothing—1.8 million workers, according to a recent Morning Consult poll, have turned down jobs due to generous unemployment benefits, including an extra $300 a week from the federal government in some states. Meanwhile, Burger King is offering a $1,500 signing bonus.

      Anticapitalists then shut pipelines (except Russian ones) and suspend drilling leases in parts of Alaska, helping send oil prices above $70. The government says it wants to limit carbon emissions, but then it squashes better energy options like nuclear. On June 30, months after New York state closed the Indian Point nuclear power plant, Mayor Bill de Blasio asked New Yorkers to cut back on energy usage during a heat wave. You can’t make this stuff up.

      An anticapitalist would next restrict capital formation, so President Biden has proposed raising the top capital-gains rate from 23.8% to a punitive 43.4% and the top individual income-tax rate to 39.6%. Mr. Biden also wants to waive Covid vaccine patents—making pharma companies think twice before investing in new drugs—and is even pushing a series of antitrust bills that could reverse mergers, like Facebook ’s 2012 purchase of Instagram, as if that would do anything good for the economy or consumers. Nothing is safe.

      https://www.wsj.com/articles/president-biden-progressive-economics-capital-gains-socialism-infrastructure-11626623593

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    Vitaliy_Kiselev
    War: Male testosterone tragedy
    16 comments 17 comments Vitaliy_KiselevJuly 2021Last reply - June 2022 by Vitaliy_Kiselev Subscribe to this blog
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    Vitaliy_Kiselev
    MAGA: Leftists are out of their mind
    • image

      • The United States is the only developed country that requires zero paid time off for maternity leave
      • Unemployment rose to 14% in 2021 because companies refused to raise wages
      • The Federal Minimum wage hasn't been raised since 2009
      • 40 million Americans live at, or below the national poverty line
      • Pharmaceutical companies are extorting patients for medications
      • The average American is $90,460 in debt just to afford basic necessities like housing, food, clothes, education, and medical bills

      As usual social democrats want to "improve capitalism":

      • % corporate tax rate (No loopholes)
      • Free Healthcare for all
      • 12 weeks paid paternity and maternity leave
      • $20 minimum wage
      • 4 day work week
      • Stricter Environmental Regulations on Corporations (Bans on single-use and microplastics, and limited emissions)

      None of this will ever happen, sadly :-)

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    Vitaliy_Kiselev
    Good quote: On essence of capitalism
    • They rob us, hiding behind the laws that they themselves come up with.
      And is it the such important difference, according to the law, I will be robbed or not according to the law?
      I do not care!

      N. Nosov "Dunno on the Moon"

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    Vitaliy_Kiselev
    Capitalism: Retail markup rose 3 times since 1980
    • We document the evolution of market power based on firm-level data for the US economy since 1955. We measure both markups and profitability.
      In 1980, average markups start to rise from 21% above marginal cost to 61% now. The increase is driven mainly by the upper tail of the markup distribution: the upper percentiles have increased sharply. Quite strikingly, the median is unchanged. In addition to the fattening upper tail of the markup distribution, there is reallocation of market share from low to high markup firms. This rise occurs mostly within industry. We also find an increase in the average profit rate from 1% to 8%. While there is also an increase in overhead costs, the markup increase is in excess of overhead. We then discuss the macroeconomic implications of an increase in average market power, which can account for a number of secular trends in the last four decades, most notably the declining labor and capital shares as well as the decrease in labor market dynamism.

      https://www.janeeckhout.com/wp-content/uploads/RMP.pdf

    1 comment 2 comments Vitaliy_KiselevJuly 2021Last reply - July 2021 by Vitaliy_Kiselev Subscribe to this blog
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    Vitaliy_Kiselev
    War: Cuban vaccine as main cause of US sponsored protests
    • The Cuban vaccine against the Abdala coronavirus during the third phase of clinical trials has demonstrated 100% effectiveness against severe forms of the disease and death. This was announced on Saturday by the Prensa Latina agency with reference to the developers.

      "Data on the effectiveness of the third phase of clinical trials [of the vaccine against coronavirus] Abdala has already been obtained, the results are excellent," the agency quotes the director of the Center for Genetic Engineering and Biotechnology, which developed the vaccine, Martha Ayala.

      Ayala added that the focus group for the study of the effectiveness of the vaccine is planned to increase to 300 thousand people.

      Earlier, the Center for State Control of Medicines, Equipment and Medical Devices (CECMED) of Cuba authorized the emergency use of the Abdala coronavirus vaccine. In the second half of June, Cuba announced the completion of clinical trials of the drug, its effectiveness against the symptomatic course of the coronavirus was 92.28%.

      It is very bad for big US farma companies if Cuba will start providing cheap vaccine. Especially bad it is that it can break their plan for people genocide in Africa and Latin America using their vaccines.

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