The EU

Google says the EU requires a notice of cookie use (by Google) and says they have posted a notice. I don't see it. If cookies bother you, go elsewhere. If the EU bothers you, emigrate. If you live outside the EU, don't go there.

Saturday, January 26, 2019

Understanding How The Economy Works

For John, BLUFThe system works by people getting rich and creating additional jobs, so others can prosper.  Nothing to see here; just move along.

Here is a Tweet from Professor Stephanie Kelton (@StephanieKelton):
No one makes a billion dollars.  You TAKE a billion dollars.  You take it from your workers (Hi, Jeff, Jim, and Alice!).  You plunder it from the environment (What up, Charles & David?).  You strip it using patents/protections (Lookin' at you, Bill.)
I can almost hear the voice of our Senior Senator, E Warren, in the background screaming "You didn't build that."  That said, I realize it was not her line when first uttered.

Here is the Tweet Response of Nassim Nicholas Taleb (@nntaleb):

She is using Twitter and a computer to claim that those who invented them are rent seekers.  And she, a parasite, lives from rent seeking, charities, and public funds.
I am with Nassim Nicholas Taleb on this one.

And that isn't a Black Swan.

"Rent Seeking involves seeking to increase one's share of existing wealth without creating new wealth. Rent-seeking results in reduced economic efficiency through poor allocation of resources, reduced actual wealth-creation, lost government revenue, increased income inequality,[1] and (potentially) national decline."

Hat tip to the InstaPundit.

Regards  —  Cliff

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