Americans Feel Less Free—And They’re Right!

CryOver the past eight years, the share of Americans
who feel satisfied with the amount of freedom in their lives has

plummeted from 91 percent to 79 percent
, according to a Gallup
survey. That may explain earlier polling that found widespread
perception that the
government itself is the largest problem facing the United
States
.

Public dissatisfaction may also reflect the reality that the
country’s international rankings in areas including economic
freedom, Internet freedom, and press freedom have slipped
dramatically in recent years. People feel less free because they
are less free.

Satisfaction with freedom

According to the Gallup
write-up
:

Fewer Americans are satisfied with the freedom to choose what
they do with their lives compared with seven years ago — dropping
12 percentage points from 91% in 2006 to 79% in 2013. In that same
period, the percentage of Americans dissatisfied with the freedom
to choose what they do with their lives more than doubled, from 9%
to 21%.

Gallup asks people in more than 120 countries each year whether
they are satisfied or dissatisfied with the freedom to choose what
they do with their lives. In 2006, the U.S. ranked among the
highest in the world for people reporting satisfaction with their
level of freedom. After seven years and a 12-point decline, the
U.S. no longer makes the top quartile worldwide.

At 94 percent and 93 percent respectively, New Zealand and
Australia rank at the top in terms of satisfaction with public
satisfaction with the freedom to choose what they do with their
lives. Australia also ranks third and New Zealand fifth on the
Index of Economic
Freedom
, while the U.S. comes in at 12.

According to the 2014 entry
for the United States at the Index of Economic Freedom, “The U.S.
is the only country to have recorded a loss of economic freedom
each of the past seven years. The overall U.S. score decline from
1995 to 2014 is 1.2 points, the fourth worst drop among advanced
economies.”

The The Fraser Institute’s Economic
Freedom of the World: 2013
Annual Report
(PDF) is even
tougher, noting that the U.S. slid from third to 19th from 2000 to
2011. While there was widespread slippage, the biggest problem,
noted the report, was with eroding government respect for legal
systems and property rights.

Largely because of revelations of U.S. government surveillance
of the world at large and Americans at home, Freedom House’s
Freedom on the Net 2013
dropped
this country’s ranking on Internet freedom from 12 to
17 last year.

Press freedom has also taken a hit. Last year, the Committee to
Protect Journalists
cautioned
:

U.S. President Barack Obama came into office pledging open
government, but he has fallen short of his promise. Journalists and
transparency advocates say the White House curbs routine disclosure
of information and deploys its own media to evade scrutiny by the
press. Aggressive prosecution of leakers of classified information
and broad electronic surveillance programs deter government sources
from speaking to journalists.

Then, early in 2014, the U.S. slipped 13 places on
the World Press Freedom Index
, compiled by Reporters Without
Borders. The group cautioned that “increased efforts to track down
whistleblowers and the sources of leaks…were warnings to all
those thinking of assisting in the disclosure of sensitive
information that would clearly be in the public interest.”

If Americans are increasingly dissatisfied with the freedom in
their lives, it may well be because, in many ways, government
respect for freedom is slipping away.

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Former Gov. Gary Johnson Goes Into the Marijuana Business

Just under 1%, it turned out.A former politician finds a more
honorable profession
:

A Nevada-based startup that plans on selling medical
and recreational marijuana products named former New Mexico
governor and U.S. Libertarian presidential candidate Gary Johnson
as its CEO and president, the company announced Tuesday….

Johnson, who owned a construction company that helped build Intel
Corp.’s Rio Rancho, New Mexico, plant before entering politics,
said the company will make marijuana-based oils aimed at helping
children with epilepsy. The two-term governor also said it will
make cough drop-like products for recreational use.

“Couple of things hit you when you try the product. One is, wow,
why would anybody smoke marijuana given this is an alternative?”
Johnson said. “And then secondly, it’s just very, very pleasant. I
mean, very pleasant.”

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Hearing Examiner: School Was Right to Suspend Little Boy Who Chewed Pop-Tart Into Shape of Gun

Pop-TartLast year, the suspension of a
seven-year-old boy from an Anne Arundel County, Maryland, public
school generated significant media attention. The boy’s crime? He
chewed a Pop-Tart into the shape of a gun and reportedly made
shooting gestures at other students.

The incident happened in the wake of the Sandy Hook shooting,
and many people said administrators overreacted out of
paranoid sensitivity to gun violence. School policies prohibit
“lookalike weapons” as well as real ones, even though no one was
ever shot to death by a pastry.

Ever since his suspension, school administrators have tried to
spin the harsh disciplinary measures as a last response to a string
of inappropriate behavior. Earlier this week, a hearing examiner
agreed with the school that the boy’s suspension was justified on
those grounds. According to
The Washington Post
:

In a 30-page opinion, hearing examiner Andrew W. Nussbaum
supported a principal’s assertion that the suspension was based on
a history of problems, not the pastry episode. “The evidence is
clear that suspension is used as a last resort,” Nussbaum
wrote.

… In Anne Arundel, the boy’s disciplinary referral used the
word “gun” four times, asserting that the child “chewed his cereal
bar into the shape of a gun” and aimed it at other children. The
document quoted the boy as yelling, “Look, I made a gun!” It cited
classroom disruption as the primary reason for the suspension, and
an administrator noted several previous incidents of disruptive
behavior near the bottom of the form.

In Nussbaum’s opinion, dated June 26, he rejected arguments from
the boy’s family that the school overreacted and that the
suspension arose from a bias against guns. The father said he was
told the day that the boy was suspended that it was for playing as
if he had a gun, not for ongoing problems.

… Robin Ficker, an attorney for the family, said the parents
are hoping for the best when the school board makes its decision.
He argued that the school system tried to change the issue “into a
long-term behavior problem after the fact.”

It’s difficult to believe that the suspension wasn’t really
about the kid’s pretend gun antics, however. Anne Arundel
administrators sent
a letter
home to parents in response to the Pop-Tart incident
that clearly indicates they were freaked out about it:

I am writing to let you know about an incident that
occurred this morning in one of our classrooms and encourage
you to discuss this matter with your child in a manner
you deem most appropriate.  During breakfast this
morning, one of our students used food to make
inappropriate gestures that disrupted the class. While no
physical threats were made and no one was harmed, the student
had to be removed from the classroom. 

If your children express that they are troubled by today’s
incident, please talk with them and help them share their
feelings. Our school counselor is available to meet with
any students who have the need to do so next week. 

Administrators suspended the boy for two days and marked his
personal record. His official school files now reference the word
“gun” four times. His parents have asked administrators to expunge
the file; they have refused.

It’s important to remember that there is a seven-year-old boy at
the fruit-filled center of this case study in anti-gun hysteria and
heavy-handedness. I have a hard time believing that anyone has
suffered as a result of his actions other than himself.

Read more from Reason on illogical zero tolerance school
policies
here
.

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Venture Capitalist Buys Entire Stash Of ‘Silk Road’ Bitcoins At US Marshall Auction

A single entity successfully scooped up the entire ~30,000 haul of Bitcoins that the US government seized from Silk Road. The successful bidder at the government’s auction was V.C. Tim Draper (in partnership with Vaurum) who is infamous as the ideator of viral marketing, a marketing method for spreading a software application from customer to customer (making one wonder if the $19 million bid was more publicity stunt that investment). However, Vaurum has launched trading platforms in emerging markets, and we will be partnering with Tim to leverage the pool of ~30,000+ bitcoins as a liquidity source. The price of Bitcoin continues to rise, now at $650 – up from around $570 when the auction began.

 

 

Tim offered this in a statement:

Bitcoin frees people from trying to operate in a modern market economy with weak currencies.
With the help of Vaurum and this newly purchased bitcoin, we expect to
be able to create new services that can provide liquidity and confidence
to markets that have been hamstrung by weak currencies.

 

Of course, no one is totally secure in holding their own country’s currency. We want to enable people to hold and trade bitcoin to secure themselves against weakening currencies.”

 

Mr. Draper’s background…

Timothy Cook Draper is an American venture capital investor. Tim Draper founded Draper Associates in July, 1985, which when joined by John Fisher and Steve Jurvetson became the venture capital firm Draper Fisher Jurvetson (now DFJ). The firm’s investments include Skype, Hotmail, Tesla, Baidu, Theranos, Athenahealth, Solar City, Box, and Parametric Technology among many others. Tim Draper created the DFJ Network, a global network of venture funds who work together to improve service to entrepreneurs, covering 30 cities around the world. Current firms include Draper Nexus (Tokyo), DFJ Athena (Seoul), DFJ Dragon (Shanghai, Beijing), DFJ Esprit (London), among others with domestic offices in NY, LA, Pittsburg, Austin, as well as the hub in Menlo Park, CA. Tim is the ideator of viral marketing, a marketing method for spreading a software application from customer to customer, instrumental to the successes of Hotmail and Skype among others. He is an active angel investor, who has invested in more than 1000 private companies to date.

 

He is the third in a line of venture capitalists. His father, William Henry Draper III, founded the Draper & Johnson Investment Company in 1962 and his grandfather William Henry Draper Jr. founded Draper, Gaither and Anderson in 1958. His father also was chairman and president of the Export-Import Bank of the United States.

 

Tim is the ideator of viral marketing, a marketing method for spreading a software application from customer to customer




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Enter to Win the 2014 Bastiat Prize!

ReasonIn the enduring spirit of
Frédéric Bastiat’s brilliant work, the Bastiat Prize for Journalism
is given to writers who educate readers by employing Bastiat’s
simple, eloquent and witty explanations of complex economic ideas,
combined with a clear understanding of markets and their underlying
institutions. Open to all published writers. Prizes include $10,000
to the winner, $5,000 for 2nd Place, and $1,000 for
3rd. Enter at http://ift.tt/1rqVuXO by
July 31, 2014. 

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A.M. Links: Obama Dares GOP to ‘Sue’ Him, Belgium Beats U.S. in World Cup, Sarkozy Arrested

  • President Barack Obama has a message for
    Republicans who oppose his agenda:
    “So sue me.”
  • “Over the span of 69 years of American history and 12
    presidencies, President Barack Obama finds himself with President
    George W. Bush at the
    bottom of the popularity barrel
    .”
  • U.S. District Court Judge Reggie Walton
    has demanded
    that I.R.S. officials appear before the bench and
    explain how the agency lost untold numbers of Lois Lerner’s
    emails.
  • Belgium
    defeated
    the United States 2-1 in extra time in Wednesday’s
    World Cup Round of 16 match. Belgium now advances to face Argentina
    in the quarterfinals.
  • Former French President Nicolas Sarkozy has been
    arrested
    on corruption charges.

Follow Reason and Reason 24/7 on
Twitter, and like us on Facebook. You
can also get the top stories mailed to you—sign up
here
.

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Did Las Vegas Just Become China’s Billionaire New Money-Laundering Mecca?

An odd thing has been happening in the last few months. Since the Chinese government began to crackdown on ‘junkets’ and ‘corruption’, Macau – the hub for Chinese billionaires to smuggle their money out of China – has seen revenues disappointing. So much in fact that, as Reuters reports, gambling revenue in Macau fell 3.7% in June on an annual basis, the first decline in more than four years. It could be coincidence, however, that as Macau has seen growth collapse, Las Vegas has seen Baccarat (the preferred game of China’s rich) surge. In May, as Macau growth slumped, Las Vegas Baccarat surged over 85%. While slots (the staple indicator of the 99% in America) continues to decline (-4.4% in May), it seems rich foreigners are finding creative new ways to wash their money out of China.

Macau had been the money-laundering center for Chinese elite (as we noted here)

“You don’t actually buy anything,” said Lai, standing near a half-empty display case containing a messy spread of watches and jewellery. “We just help people get money out of China so they can gamble more.”

But as Reuters reports,

Gambling revenue in Macau fell 3.7 percent in June on an annual basis, the first decline in more than four years…

 

The southern Chinese territory of Macau, a special administrative region, like neighbouring Hong Kong, is the only place in the country casino gambling is legal.

 

Gambling revenue from Macau’s 35 casinos fell to 27.2 billion patacas in June ($3.4 billion) from 28.3 billion patacas a year earlier according to data released by the Macau government on Tuesday.

And coincidence or not, at the same time, Las Vegas sees a massive spike in Baccarat business (the preferred game of China’s wealthy)…

Of course – correlation is not causation – but we can’t help but wonder if the Chinese have found a new way to get their cash out of China.

*  *  *
On a separate note, a glance at the table above also shows the tumble in slots revenue (the staple of joe sixapck and 99%) – not exactly reflective of the animal spirits associated with all-time high stock markets.




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Kurt Loder Reviews Tammy

Actors have to work with
the physical equipment they’ve been given, naturally. Melissa
McCarthy is a big woman, but her weight has usually been a
background element in her performances – it’s her nimble comic
delivery and buoyant personality that have made her a star. So,
writes Kurt Loder, it’s dispiriting to see her,
in Tammy, stooping to play a character who can only
be described as a fat slob. The movie’s terrible script, a
first-time effort by McCarthy and her husband, Ben Falcone, has the
titular Tammy lusting after pies and donuts and, in one grotesque
bar scene, coquettishly coming on to strangers who reject her out
of hand. It’s hard to say what’s more baffling: that the director –
Falcone again, making an unpromising debut in this function as well
– gives us so many full-length shots of Tammy waddling around in
unflattering getups (black tights at one point), or that McCarthy,
also one of the film’s producers, approved of his doing so.

View this article.

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ADP Employment Surges To Best Since Nov 2012

Today’s epic catch-up in ADP jobs data (nicely extrapolated off the back of last month’s NFP) is the biggest beat since Dec 2012 and biggest gain in jobs since Nov 2012. While ISMs and PMIs are missing expectations – and notably small businesses in those surveys saying they are not seeing benefits – ADP claims that small businesses gained the most jobs. Of course, we assume the seasonal adjustments had nothing to do with that… from biggest miss in 4 months to biggest beat in 21 months… normal…

 




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Obama Worst President Since World War II, More Say US Would Be Better Under Romney, Latest Poll Finds

The president is increasingly finding that telling the Mr. Chairmanwoman to rig the market to all time highs does not translate to a comparable popularity rating. In fact, just the opposite.

Wile Obama’s slide in the polls is nothing new, the latest data from the Quinnipiac University Poll is about as bad as it gets for the president: in fact, perhaps the only thing more shocking than Obama “surpassing” George W. Bush as the worst president since World War II is the onset of revisionism, with some 45% saying the US would have been better with Romney as president, compared to just 38% who say Obama remains the better choice. Which incidentally confirms what we reported yesterday: while the Republican view of Obama has certainly never been lower, what is worse is that even the core democrat faithful are now giving up on the hope and change bringer, confirmed by the latest Gallup poll which saw democrat confidence in the economy tumbling to the lowest level for 2014.

More from Washington Times:

With Mr. Obama deploying military troops to Iraq, failing to find compromise with Congress and seeing major defeats in the Supreme Court, voters continue to sour on him.

 

Quinnipiac found 45 percent of voters say the country would have been better off if Mr. Romney, the 2012 GOP nominee, had been election, while just 38 percent say Mr. Obama remains a better choice. Even Democrats aren’t so sure — just 74 percent of them told the pollsters Mr. Obama was clearly the better pick in the last election.

 

Voters also rate him the worst president since World War II, topping even his predecessor, President George W. Bush, who had left office with terrible ratings.

 

“Over the span of 69 years of American history and 12 presidencies, President Barack Obama finds himself with President George W. Bush at the bottom of the popularity barrel,” said Tim Malloy, assistant director of the Quinnipiac University Poll.

 

A Zogby Analytics Poll released Wednesday also found Mr. Obama slipping — in that survey, to 44 percent approval, while his disapproval leapt 4 percentage points from last month to reach 54 percent.

 

Nearly half of voters told the Zogby poll that Mr. Obama is “unable to lead the country.”

And now, back to hoping and praying that by rigging the Dow Jones above the “psychological level” of 17,000, voters will finally notice and give Obama his due.




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