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Updated: 10 hours 31 min ago

Another Chinese Economic Problem Sky-High Debt Ratios

Wed, 07/23/2014 - 03:06
This UK Telegraph article, predictably by Ambrose Evans-Pritchard, gives us some more insight into how China's impossible boom has been created, leveraged and elongated, possibly to the breaking point. It's not a pretty picture. Years ago, we began to write that China was seeing classic bubble symptoms. At the time, we wondered how long they might continue and how expansive they might get. Our hunch was that China's Keynesian-style banking expansion might last a very long time relatively ...

More Voter Participation Mainstream Pols Better Be Careful What They Wish For

Wed, 07/23/2014 - 03:04
We heartily encourage people not to vote. Your vote doesn't really matter within the larger scheme of things. Anyway, many voting districts are so gerrymandered that the incumbent would have to perform a ghastly crime in broad daylight to stand any chance of losing. But even more importantly, say that your vote does make a proverbial "difference" – what then? Is Congress going to change? Is Leviathan going to be reduced? Really? ... What about DC's ubiquitous intel agencies: the FBI, CIA, NSA, ...

What Rights Do We Have

Wed, 07/23/2014 - 03:02
The concept of "rights" was developed, in part, from the concept of "right" – correct, true – as used in the tradition of natural law ethics (concerning how we ought to act or not act because we are human beings). In time, a natural rights theory was produced by John Locke (1632-1704). It addressed our political life – how our human communities should be governed, organized. Supposedly because of our human nature, certain standards of conduct apply to us as we carry out our community affairs, ...

The Manipulated Dialectical Destiny of the BRICS

Tue, 07/22/2014 - 03:06
This pernicious elite meme amply illustrates what we call directed history. In this case endless articles are appearing to explain why the dollar is in terminal decline as the BRICS (including South Africa) are ascending. We last wrote about this issue here: Don't Be Fooled by Transcontinental Rivalries. We made a number of points about the reality of the BRICS emergence and how when one examines the reality of the global economic system a good many questions emerge. Skepticism is advised. Here ...

Rand Paul Presidential Victory and Then a Long Repentance

Tue, 07/22/2014 - 03:04
Will Rand Paul be the next US president? We believe it's perfectly possible, and thus we've been following this meme. Now it seems Rand Paul – and the news media – are coining a new phrase, "conservatarian." We weren't familiar with the term, but we found numerous uses on the Internet, going back a number of months. When the mainstream media creates a term at least partially for you – and utilizes it – something is going on. And in this case, what is going on is that Rand Paul is being given ...

Tax Inversion Freedom vs Fiscal Berlin Wall

Tue, 07/22/2014 - 03:02
The Obama Administration has proposed its latest form of collectivist control over the American people. In a letter to Congress, U.S. Treasury Secretary Jack Lew has called for punishment and prohibition of any company that tries to move its headquarters overseas to avoid higher taxes in the United States. Plus, Mr. Lew has the audacity to call his proposed territorial imprisonment of American business "economic patriotism." National Imprisonment Equals "Economic Patriotism" He said, "What we ...

Drug Legalization Gone Global - A Massive Wealth Generating Opportunity

Tue, 07/22/2014 - 03:01
Adapting to massive paradigm shifts before most even notice is how generational fortunes are made. How many look back to when alcohol prohibition ceased in 1933 in the US, after having been deemed illegal by the federal government since 1920, and wished they could have invested and profited like Joseph Kennedy, father of John F Kennedy, who amassed a fortune when he travelled to Scotland with Franklin Delano Roosevelt's son, James Roosevelt, to buy distribution rights for Scotch whisky. Event ...

The Logical Conclusion of the Modern Monetary Argument

Mon, 07/21/2014 - 03:06
This is an interesting article because it shows clearly that controlling the Fed's business practices is a kind of non-starter. Reining in Fed behavior won't make a real difference. The article revolves around a Republican proposal having to do, in part, with restricting the Fed's mandate to just price inflation – rather than inflation plus employment. The target is quantitative easing, which monetary "hawks" believe has set the stage for massive inflation of this sort. The idea, apparently, is ...

Drug Decriminalization Lesson Learned

Mon, 07/21/2014 - 03:04
US fedgov is going to reduce sentences for drug offenders. With a push on to decriminalize and legalize drugs, why should people continue to stay in jail? We asked that question a while ago and now have our answer. People won't. A bigger question, of course, is why should they be there in the first place? These are not social movements after all, it seems. These are decisions seemingly taken on high and then disguised as cultural reconfigurations. How else to explain the kind of policy zigzags ...

What the Media Wont Report About Malaysian Airlines Flight MH17

Mon, 07/21/2014 - 03:02
Just days after the tragic crash of a Malaysian Airlines flight over eastern Ukraine, Western politicians and media joined together to gain the maximum propaganda value from the disaster. It had to be Russia; it had to be Putin, they said. President Obama held a press conference to claim – even before an investigation – that it was pro-Russian rebels in the region who were responsible. His ambassador to the UN, Samantha Power, did the same at the UN Security Council – just one day after the ...

Stephan Kinsella on Libertarian Legal Theory Self-Ownership and Drug Laws

Sun, 07/20/2014 - 03:06
Daily Bell: Was there any justifiable reason to incarcerate [drug users] in the first place? Stephan Kinsella: Well, finally, an easy one! Of course not. Drug laws are completely evil. I believe some day we will look back on this like we look back on the days of chattel slavery now. Daily Bell: As a matter of reality, will they receive compensation? Stephan Kinsella: Of course not. ...

As Predicted UN Calls for Decriminalization of All Drugs

Sat, 07/19/2014 - 03:06
The UN has now called for the decriminalization not just of marijuana but of other drugs as well, including so-called injectables. Our analyses are often correct, but in this case, we're a little surprised at how fast confirmation has arrived. The Economist informs us of the following: The WHO calls for decriminalisation ... Uruguay, Colorado, Washington—more and more places are rebelling against the UN conventions that established the criminalisation of narcotics half a century ago. But the ...

Illiterate Twofer Rise of Robots Demands Universal Basic Income

Fri, 07/18/2014 - 03:06
Dominant social themes are almost always economically literate. But rarely do we discover linkages that allow the presentation of two at once. This article offers one untruth – that robots will put almost everyone out of work – and then compounds it with another untruth ... that only a universal basic income will salvage social prosperity. It is difficult to decide which meme is more pernicious. Technology is not to be feared. It doesn't ruin economies; it enhances wealth. Meanwhile, a ...

Answer to the Right to Be Remembered Is Natural Law

Fri, 07/18/2014 - 03:04
There are two ways to confront this wrongheaded Reuters editorial. One way is by pointing out that aggregators like Google (and others) are protected by various legislative and court rulings that allow them to post the most salacious and destructive information without consequence. The content is not their responsibility, we are told. The second is to point out that this entire controversy is basically driven by wealth. The wealthiest among us have the wherewithal to squelch even the most ...

A Must Read This Summer for All Free-market Thinkers

Fri, 07/18/2014 - 03:03
Mark Tier's latest title, Trust Your Enemies: A Political Thriller, which I found to be an intensely compelling Libertarian ride, is his first foray into fiction, following upon his excellent nonfiction writing that I've enjoyed for years. Having known Mark for a long time I finally had the pleasure of meeting him in person here in Toronto in June. While dining together, he passionately told me about his new book and, although we talked about it at some length and I certainly was excited to read ...

Sanctions and Airliners

Fri, 07/18/2014 - 03:02
The unilateral US sanctions announced by Obama on July 16 blocking Russian weapons and energy companies access to US bank loans demonstrate Washington's impotence. The rest of the world, including America's two largest business organizations, turned their backs on Obama. The US Chamber of Commerce and the National Association of Manufacturers placed ads in the New York Times, Wall Street Journal, and Washington Post protesting US sanctions. NAM said that the manufacturer's association is ...

Trillion Dollar Google The Myth of Capitalist Enterprise

Thu, 07/17/2014 - 03:06
Nope. We are past believing in such fantasies as a trillion dollar company. These will not be companies but titanic mercantilist organizations. Of course, for smaller, nimbler companies, such vastness is a good thing. As stock markets climb and trillions slosh around the global economy, entrepreneurial start-ups will continue to receive top dollar. Much of that cash may go to smaller tech companies, but start-ups in other industries (marijuana comes to mind) may also benefit. One thing is for ...

Fallout of IRS Scandals May Be More Serious Than Seen

Thu, 07/17/2014 - 03:04
We've noticed this meme is gaining popularity "on the left." The idea is that tax-exempt social welfare organizations should not engage in politics, and that when the IRS began to examine these organizations, Republicans moved in with trumped up charges because they wanted a continuance of "money with secrecy." Here's more: Nonprofit tax-exempt "social welfare" organizations, known as C4s from their description in section 501(c)4 of the tax code, aren't permitted to claim a tax exemption for ...

Voluntaryist Anthropology

Thu, 07/17/2014 - 03:02
Libertarians believe a better world is possible. Libertarian anarchists believe the best world is a stateless one; it consists of voluntary societies which would include institutions or customs to prevent and deal with occasional crime. The practical application of voluntaryism – an insistence that all human interaction be voluntary – is the way to get there because it creates the innovations, institutions and lifestyles upon which anarchism can build. But one practical approach has been largely ...

Are Federal Agents Learning Tyranny At The Holocaust Museum

Thu, 07/17/2014 - 03:01
In this age of unwarranted, mass surveillance on emails and video calls, it might seem like Federal Bureau of Investigations (FBI) and other intelligence agents seem more versed in tyranny than ever before. Perhaps that is because they are being schooled in it...According to CNN Money, all FBI academy trainees learn about Nazi Germany and police state oppression. "We send every one of our agents to the Holocaust Museum before they're agents to know and understand what happens when an agency goes ...

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