Governments don’t work the way most people think they do. Public choice theory explores how voters, politicians, and bureaucrats actually make decisions. Prof. Antony Davies explains. SUBSCRIBE: http://bit.ly/2dUx6wg LEARN MORE: Behavioral Economics Ep. 5: What You Need to Know About Public Choice (video): Erika Davies and Prof. Antony Davies give an introduction to public choice economics and describe how insights on human behavior in the private sector can be applied to predict human behavior in the public sector. https://www.youtube.com/watch?v=FcLGU… Public Choice: Why Politicians Don’t Cut Spending (video): Prof. Ben Powell uses insights from public choice theory to explain why politicians, despite what they may promise to voters, rarely cut government spending. https://www.youtube.com/watch?v=6uR4l… Schools of Thought in Classical Liberalism, Part 3: Public Choice (video): Dr. Nigel Ashford gives a brief overview of the intellectual figures and ideas associated with public choice theory; part of a larger series on schools of thought in the classical liberal tradition. https://www.youtube.com/watch?v=ffJFN…
After departing the D-Day commemoration in the U.K, President Trump and First Lady Melania traveled to Shannon, Ireland. President Trump and Irish Prime Minister Taoiseach Leo Varadkar hold a press availability before bilateral talks. (Video and Transcript)
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[Transcript] PRIME MINISTER VARADKAR: So, I just want to welcome all the members of the press who traveled here. And it’s a great pleasure to be able to welcome President Trump to the Uni — to the United States — to Ireland. And certainly not the first time he’s been here, or in County Clare. This is the first he’s been here as President of the United States. Only, I think, the sixth time an American President in office —
PRESIDENT TRUMP: I think so.
PRIME MINISTER VARADKAR: — has visited Ireland. So we’re very pleased to have you here and look forward to meeting later on.
PRESIDENT TRUMP: Well, I appreciate it. The Prime Minister has done a fantastic job. And we’ve become friends over the last very short period of time. And great relationship with Ireland. I think as good as it’s ever been. Maybe better. Tremendous trade. We do a lot of business together. A lot of trade business together. A lot of tourism together.
And maybe most importantly, you are certainly one of the leading countries in terms of people moving and living in the United States. We have millions of Irish. And I think I know most of them because they’re my friends. We love the Irish.
So, it’s an honor to be here. We’ll be discussing various things. Probably, you’ll ask me about Brexit because I just left some very good people that are very much involved with Brexit, as you know. And I think that’ll all work out. It will all work out very well. And also, for you, with your wall, your border. I mean, we have a border situation in the United States, and you have one over here. But I hear it’s going to work out very well. I think it’s both going to work out well. It’s going to work out very well here.
And, again, both the military and the trade is such a big factor, and we’re going to be discussing that very much.
So, it’s an honor to be in Ireland with my friend, and he’s doing a great job as your Prime Minister.
PRIME MINISTER VARADKAR: The main thing we want to avoid, of course, is a border or a wall between both sides.
PRESIDENT TRUMP: No, I think you do. I think you do. The way it works now is good. You want to try and keep it that way. And I know that’s a big point of contention with respect to Brexit, is your border. And I’m sure it’s going to work out well. I know they’re focused very heavily on it.
Q Mr. President, can I ask you: Do you think Brexit will be bad for Ireland? You said it’s good for the UK, but will it not be bad for Ireland?
PRESIDENT TRUMP: No, I think it should be good. I mean, the big thing is going to be your border, and hopefully that’s going to work out. I think it will work out. There are a lot of good minds thinking about how to do it, and it’s going to be — it’s going to be just fine. I think, ultimately, it could even be very, very good for Ireland. But the border will work out.
Q Mr. President, what do you think of our President’s comments, where he said your stance on climate change was “pernicious” and “reckless”?
PRESIDENT TRUMP: Well, I haven’t heard those comments. But, you know, we have the cleanest air in the world, in the United States, and it’s gotten better since I’m President. We have the cleanest water; it’s crystal clean. And I always say I want crystal clean water and air. So I haven’t heard his comments, but we do have — we’re setting records, environmentally.
Q Mr. President, are you concerned that Ireland is not sufficiently worried about the threat from Huawei? I know that issue came up in Britain. Some people worry about it in this country, as well.
PRESIDENT TRUMP: Well, I know that. And we deal very closely, as you know, with your intelligence and your security. And we’re working on that together, and I know you’re concerned like we’re concerned. We’re all concerned about it. So we’ll have it —
PRIME MINISTER VARADKAR: Well, that’s something —
PRESIDENT TRUMP: Right.
PRIME MINISTER VARADKAR: That’s something that the Irish government is concerned about as well, and we’ve been offered some further briefings, information, from the U.S. side, just to give us a security briefing on that. And we’ll do our own security analysis first, and then a (inaudible). But it is something that we’re also concerned about.
PRESIDENT TRUMP: We’re working on that together, very much, with not only Europe but with Ireland.
Q Mr. President, you’ll be spending a few days in Doonbeg. What’s your plan? What will you be doing in Doonbeg?
PRESIDENT TRUMP: So, we’ll be going there, and then, as you know, I’m making a trip tomorrow to Normandy. We had an incredible time today. This was just something that — the likes of which few people have seen anything like it. We were with the Queen and the Royal Family, and we were with the Prime Minister, and it was something very special. And many of you were there. I think almost all of you were there. But it’s been very well covered, and it was truly beautiful.
And tomorrow we go to where it all took place; we go to Normandy. And I’ll be leaving from Doonbeg. I’m staying here overnight, and I thought this would be the best place. I’d love to come to Ireland and stay at Doonbeg, and tomorrow we’ll be leaving and going to Normandy. So, many of you will be coming with us.
Q Is this trip about promoting your golf club?
PRESIDENT TRUMP: Say it?
Q Mr. President, is this trip, for you, just about promoting your golf club?
PRESIDENT TRUMP: No, this trip is really about great relationships that we have with the UK. And I really wanted to do this stop in Ireland. It was very important to me because of the relationship I have with the people and with your Prime Minister.
Q (Inaudible) the E3 visa?
PRESIDENT TRUMP: Yeah, we’re looking at that. We almost made it last time. It was one vote; you know that. And we’re looking at that, and I’m sure that’s something we’re going to discuss. And I spoke to the one vote, who’s a great senator, by the way. And — he really is; he’s a great senator. And we think we’re going to be successful. He’s a terrific person. He doesn’t mean to do any harm — that, I can tell you. He was telling me he loves Ireland, actually. So I think we’re going to be in good shape.
We had just about a unanimous vote. And —
PRIME MINISTER VARADKAR: Yeah. (Inaudible.)
PRESIDENT TRUMP: And if we get a unanimous vote, we do something that they’ve been trying to do for a long time. So I want to do that for the people of Ireland, but I want to do it for the people that are in the United States that want this vote to happen, that happen to be of Irish descent.
Q President Trump, as USA is co-guarantor of the Good Friday Agreement, what assurances can you offer the government in helping to protect peace in Northern Ireland and avoid a hard border?
PRESIDENT TRUMP: Well, I think what’s going to happen is, over the next period of time — first, they’re going to have to see who’s going to be Prime Minister. And I think it’s a very important decision. We’ll see what happens over in the UK, because that’s going to be decision number one: who is going to be Prime Minister. And once that happens, that person will get in and try and make a deal. And maybe if they don’t make a deal, they do it a different way.
But I know one thing: Ireland is going to be in great shape. Ireland is, you know, a special place. It’s going to be in very good shape. I don’t think the border is going to be a problem at all.
Q Sir, did you see those reports of executions in North Korea of the folks who were involved in your summit? Does that worry you at all that Kim would execute these people?
PRESIDENT TRUMP: Well, I don’t know if the reports are correct because one of the gentlemen who we deal with is — this is North Korea they’re talking about — is somebody that we know well. He’s a strong man. He’s a strong person. And they like to blame Kim Jong Un immediately. But they said he was killed, and he wasn’t. He was at the theater the other night, so he wasn’t killed. The other four people I know nothing about. But it is — it’s an interesting situation.
And I think that they would like to make a deal and we’d like to make a deal with them. We’ll see how it goes. It’s been going pretty well because there hasn’t been testing of anything major, and, frankly, there’s been no nuclear testing in a long period of time.
When I became President, and before that, as you know, it was all the time: nuclear testing, ballistic missile testing. And now there’s nothing. I think that Chairman Kim would like to make a deal, and I’d like to make a deal with him. I look forward to seeing him in the appropriate time.
And, again, one of the people they were talking about that was supposedly executed wasn’t executed at all.
Q Corporation tax — Ireland’s corporation tax over here —
PRESIDENT TRUMP: Say it?
Q Are you going to talk about Ireland’s corporation tax with the Prime Minister?
PRESIDENT TRUMP: Well, the corporation tax — you mean the fact that it’s so low? It is a very low tax. I have to agree.
You know, we have our tax very, very low, but they’ve done a very good job in Ireland. And your Prime Minister has kept it there. And he’s — they have a lot of great companies here.
He should try — he should try keeping it low. I agree.
Thank you very much, everybody. Thank you.
Q (Inaudible) tariffs —
PRESIDENT TRUMP: Oh, it’s true. They’re having a meeting at 3 o’clock today. And, look, I think Mexico has to step up. And if they don’t, tariffs will go on. And if they go high, the companies are going to move back into the United States. That’s all. It’s very simple.
The people aren’t going to have to worry about paying the tax because the companies are going to move back into the United States. There won’t be any tariff.
As far as China is concerned, China wants to make a deal. I have no doubt about it. And the — every signal is they want to. And at the right time, probably that will happen. But right now, they’re paying many billions of dollars to the United States. We never got that before from China. And we haven’t even started. It’s relative peanuts compared to the numbers that we’re talking about.
But I think China wants to make a deal, and Mexico, you know, wants to make a deal. They have their entire delegation right now going over to, probably, the White House location, but to negotiate with our people. It’s headed up by Mike Pompeo and Bob Lighthizer, and Mike Pence is involved. So we have a great group.
But Mexico — look, the drugs that are coming in, the people that are coming in unchecked, they’re swamping our border. They’re coming up by the millions. Mexico can stop it. They have to stop it. Otherwise, we just won’t be able to do business. It’s a very simple thing.
And I think they will stop it. I think they want to do something. I think they want to make a deal. And they sent their top people to try and — we’ll see what happens today. We should know something.
Earlier today President Donald Trump and First Lady Melania Trump joined with H.M Queen Elizabeth and H.R.H Prince Charles to commemorate the 75th anniversary of D-Day in Portsmouth, England.
The U.K is five hours ahead of U.S. Eastern Time. In the final leg of the U.K state visit President Trump and First Lady Melania will attend a D-day commemoration event in Portsmouth, England, with H.R.H Queen Elizabeth II and H.R.H The Prince of Wales.
Departing the U.K. the first couple will fly to Shannon, Ireland for a bilateral meeting with Irish Prime Minister Taoiseach Leo Varadkar, and stay overnight at Trump International Doonbeg.
9:35am BST / 4:35am EST THE PRESIDENT and THE FIRST LADY depart London, United Kingdom, en route to Southsea Castle Landing Zone, Portsmouth, United Kingdom, London, United Kingdom
10:25am BST / 5:25am EST THE PRESIDENT and THE FIRST LADY arrive at Southsea Castle Landing Zone, Portsmouth, United Kingdom
10:35am BST / 5:35am EST THE PRESIDENT and THE FIRST LADY depart Southsea Castle Landing Zone en route to Southsea Common, Portsmouth, United Kingdom
10:40am BST / 5:40am EST THE PRESIDENT and THE FIRST LADY arrive at Southsea Common, Portsmouth, United Kingdom
10:45am BST / 5:45am EST THE PRESIDENT participates in a photo opportunity with leaders attending an event to commemorate the 75th Anniversary of D-Day, Portsmouth, United Kingdom
11:15am BST / 6:15am EST THE PRESIDENT and THE FIRST LADY participate in an event to commemorate the 75th Anniversary of D-Day, Portsmouth, United Kingdom
12:45pm BST / 7:45am EST THE PRESIDENT and THE FIRST LADY participate in a meet and greet with Her Majesty the Queen and D-Day Veterans, Portsmouth, United Kingdom
1:00pm BST / 8:00am EST THE PRESIDENT and THE FIRST LADY bid farewell to Her Majesty the Queen, Portsmouth, United Kingdom
1:10pm BST / 8:10am EST THE PRESIDENT and THE FIRST LADY participate in a reception with His Royal Highness the Prince of Wales and other leaders attending the D-Day Commemoration, Portsmouth, United Kingdom
1:35pm BST / 8:35am EST THE PRESIDENT and THE FIRST LADY participate in a meet and greet with United States Service Members, Portsmouth, United Kingdom
2:05pm BST / 9:05am EST THE PRESIDENT participates in a Luncheon at the D-Day Commemoration, Portsmouth, United Kingdom
2:50pm BST / 9:50am EST THE PRESIDENT and THE FIRST LADY depart Southsea Commons en route to Southsea Castle Landing Zone, Portsmouth, United Kingdom
2:55pm BST / 9:55am EST THE PRESIDENT and THE FIRST LADY arrive at Southsea Castle Landing Zone, Portsmouth, United Kingdom
3:05pm BST / 10:05am EST THE PRESIDENT and THE FIRST LADY depart Portsmouth, United Kingdom, en route to Southampton Airport, Southampton, United Kingdom, Portsmouth, United Kingdom
3:25pm BST / 10:25am EST THE PRESIDENT and THE FIRST LADY arrive at Southampton Airport, Southampton, United Kingdom
3:35pm BST / 10:35am EST THE PRESIDENT and THE FIRST LADY depart Southampton Airport en route Shannon Airport, Shannon, Ireland, Southampton, United Kingdom
~ U.K State Visit Concludes ~
4:50pm IST / 11:50am EST THE PRESIDENT and THE FIRST LADY arrive at Shannon Airport, Shannon, Ireland
5:00pm IST / 12:00pm EST THE PRESIDENT and THE FIRST LADY depart Shannon Airport en route to Shannon Airport Terminal, Shannon, Ireland
5:05pm IST / 12:05pm EST THE PRESIDENT and THE FIRST LADY arrive at Shannon Airport Terminal, Shannon, Ireland
5:15pm IST / 12:15pm EST THE PRESIDENT participates in a bilateral meeting with Prime Minister Taoiseach Leo Varadkar of Ireland, Shannon, Ireland
5:20pm IST / 12:20pm EST THE PRESIDENT participates in an expanded bilateral meeting with Prime Minister Taoiseach Leo Varadkar of Ireland, Shannon, Ireland
6:00PM IST / 1:00pm EST THE PRESIDENT and THE FIRST LADY depart Shannon Airport Terminal en route to Shannon Airport, Shannon, Ireland
6:05pm IST / 1:05PM EST THE PRESIDENT and THE FIRST LADY arrive at Shannon Airport, Shannon, Ireland
6:15pm IST / 1:15pm EST THE PRESIDENT and THE FIRST LADY depart Shannon, Airport, en route to Trump International Doonbeg Landing Zone, Doonbeg, Ireland, Shannon, Ireland
6:35pm IST / 1:35pm EST THE PRESIDENT and THE FIRST LADY arrive at Trump International Doonbeg Landing Zone, Doonbeg, Ireland
In an effort to keep the Daily Open Thread a little more open topic we are going to start a new daily thread for “Presidential Politics”. Please use this thread to post anything relating to the Donald Trump Administration and Presidency.
This thread will refresh daily and appear above the Open Discussion Thread.
Do you prefer the world of Adam Smith or the world of Karl Marx? Prof. Robert Lawson tells the story of his numerous discussions about this very question with his friends in college. Even after years of theoretical discussion with his friends, a conclusion was never reached between them. Prof. Robert Lawson now works on the Economic Freedom of the World project, which is an empirical study that attempts to answer this same question. In order to do this, the study compares data related to economic freedom and quality of life. It finds that countries with institutions resembling those advocated by Adam Smith tend to provide the highest quality of life to its citizens. The latest edition of the Economic Freedom of the World report can be found here: http://www.freetheworld.com/release.html
QUESTION: Hello, with all the talk of sanctions in the news against North Korea and Iran, have sanctions against a country ever worked? Aren’t they a pretext that leads to violence and war? Has any country that was developing nuclear weapons ever been prevented from eventually having them?
Thanks,
Bill
ANSWER: Sanctions have never worked. I cannot find a single instance where they have ever worked against a country. They are simply punitive in nature and have more of a tendency to lead to confrontation and violence. Take the sanctions against Russia. There is no way they can possibly work. If Putin were to say he surrenders, the Russian people would throw him out. It would be a huge humiliation politically for Russia. So there is zero chance of success. All it does is create tensions.
QUESTION: Could you please tell us more about the bank of the national banks (BIS) located in Swiss?
Many thanks for your information. I love to read your blog first thing in the morning!!!
JS
ANSWER: The Bank for International Settlements (BIS) was originally established to handle the reparation payments of Germany. It was also supposed to facilitate cooperation among the central banks. However, it had no real power to compel them to do anything, which was demonstrated by France who refused to agree with the other member concerning the reparation payments of Germany. The BIS was created in 1930 at the Hague Conference. A convention respecting the establishment of the BIS was signed between Belgium, France, Germany, Italy, Japan and the United Kingdom on the one hand, and Switzerland on the other. The BIS is owned by 60 central banks, representing countries from around the world that together account for about 95% of world GDP. It is the central bank for central banks.
The BIS does have a full range of traditional short-term instruments, denominated in reserve currencies. The BIS instruments allow customers to meet cash management objectives. They also provide tradeable instruments that are widely used by reserve managers seeking credit quality, which they will issue in major currencies along the yield curve. The paper is 1 to 5 years in maturity.
President Donald Trump and First Lady Melania Trump host a reciprocal dinner with H.R.H. Prince Charles and his wife H.R.H Duchess Camilla Parker-Bowles at the Winfield House, the official residence of U.S. Ambassador Woody Johnson.
Video of Prince Charles and his wife, Camilla, arrival at Winfield House to attend a dinner hosted by visiting U.S. President Donald Trump and First Lady Melania Trump:
Dinner Menu: Steak and Potatoes
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The dinner at the residence of the U.S. ambassador to the United Kingdom came on the second day of Trump’s official state visit to the country.
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Earlier in the day President Donald Trump and First Lady Melania Trump welcomed to Number 10, Downing Street, by British Prime Minister Theresa May and her husband Philip May.
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After the initial welcome President Donald Trump and First Lady Melania Trump, inside they were shown a hand written copy of the American Declaration of Independence on display inside a glass case. One of only two known handwritten copies.
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While President Trump and Prime Minister May were engaged in bilateral discussions, First lady Melania Trump and Philip May attended a garden party at 10 Downing Street. The second day of US President Donald Trump’s state visit to the UK.
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A review of Winston Churchill’s basement war room:
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
Centinel2012 