Baby Formula mess

Biden to the rescue. He's having the military fly in 2 days worth of formula!

Women, Infants, Children (WIC): For the purpose of this program, about half the baby formulas produced in the United States are purchased by state governments with federal money.

“The production of baby formulas is a very regulated industry. In early 2022, the Food and Drug Administration forced the closure of a factory of Abbot Laboratories (producer of Similac) in Michigan. Abbot is the dominant American producer of baby formulas, partly because it is the monopolistic distributor chosen by most state governments. A germ had been discovered in the factory, but not in the products. Some 98% of all the baby formulas consumed in the United States are produced domestically, thanks to a customs tariff of 17.5%, not to mention the regulatory requirements. Industry concentration is a typical result of regulation and protectionism." https://www.econlib.org/how-londoners-survive-without-a-food-czar/

[In other words, it is completely government controlled and 50% is purchased by the government for WIC and it’s free for those families.]

This is called “central planning” and is a feature of Communist/Socialist countries with large bureaucracies that apparently have poor math skills. Women who usually got free formula through WIC are now having to buy it, making a shortage for those who always purchased formula. If you like central planning instead of free market and competition with minimal regulation and fewer monopolies, just keeping voting for Democrats.

Independent booksellers fight back

This is a very, very old problem. The people who do it better get more customers, and the smaller firms (which years ago put the mom and pop firms out of business) complain to the government. I feel badly for the book sellers--I like nothing better than to nose around a cosy bookstore, but there sure are a lot of holes in their arguments. The letter to DOJ from the ABA.

I really think their gripe is with the publishers, not Wal-Mart, Target and Amazon. The book business has been screwy for many, many years. Long before Sam Walton ever thought of expanding his little five and dime store. I remember thinking that when I sat by the hour tearing the covers off books and hauling the guts to the trash bin behind the bookstore.

Obama Democrats by the numbers

I can't vouch for all of them. I knew about Chris Dodd and Tom Daschle. But that Maxine Waters benefiting from the TARP bank thing had completely slipped past me. But the last one is sure big, isn't it? Why does anyone in today's global economy, who claims to have lived abroad and experienced other cultures, who attended over-priced Ivy League colleges, think you can stop trade only on one end? What were they teaching in the 1980s?

"$1,646,000,000,000 ($1.646 trillion):

the approximate amount of annual United States exports endangered by the "Stimulus" package, which provides a "Buy American" stricture. According to international trade experts, a "US-EU trade war looms", which could result in a worldwide economic depression reminiscent of that touched off by the protectionist Smoot-Hawley Act."

Obviously, the days of the "rich Republicans" are long gone.

Update: If the protectionism has been "softened" in this package, apparently Europe didn't get the news. FT Weekend "Berlin fears repeat of 1930s mistakes," and this from Forbes on the 13th:

ROME, Feb 13 (Reuters) - G7 finance ministers converged on Rome to discuss the economic crisis amid warnings from Germany and Britain on Friday that the world could revert to the dark days of the 1930s if governments resorted to protectionism.