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Updated: 1 hour 33 min ago

Bloomberg Primes the Pump of the Deflationary Dialectic

17 hours 19 min ago
Bloomberg offers two editorials on Europe that tell us economic growth is not going well. The one above speaks to the issue of Mario Draghi's lack of courage in terms of implementing a program of aggressive money printing. The other one, which we excerpt below, is a kind of call to arms by Bloomberg itself – via its editorial staff – demanding that Europe's leaders scrap the fiscal pact negotiated in 2012 that mandates certain austerity measures. Taken together, they seem to be indicating a ...

Pushback as US Expands Surveillance Taxing Authority

17 hours 21 min ago
This article can be seen two ways. One, the US tax regime that it is trying to install in Switzerland is being resisted, at least a little. On two, the news can be seen as a message that once its tax regime is in place, US officials are prepared to be flexible, at least on the margins. Got a gripe? Work within the system and you may find it's resolved "fairly." Here's more: "The newspaper said the banks were convinced they had not systematically broken U.S. law and lawyers of the U.S. Department ...

Obama Has No Middle East Strategy Good

17 hours 23 min ago
Last week President Obama admitted that his administration has not worked out a strategy on how to deal with the emergence of the Islamic State in Iraq and Syria (ISIS) as a dominant force in the Middle East. However, as ISIS continues its march through Syria and Iraq, many in the US administration believe it is, in the words of Defense Secretary Chuck Hagel, a threat "beyond anything we have ever seen." Predictably, the neocons attacked the president's speech. They believe the solution to any ...

Is This the Libertarian Moment

17 hours 24 min ago
Earlier this month the New York Times wondered aloud if the "libertarian moment" had arrived. A good question, to be sure. To answer it, though, Times reporter Robert Draper sought out not quite the top libertarian thinkers in the world, but instead those people most easily reached within a ten-minute walk from the Capitol or the Empire State Building. Draper begins with an ex-MTV personality and proceeds from there. None of the people whose work and writing have shaped the libertarian movement ...

Dr Grinspoons Kind War Interview With a Renegade Marijuana Proponent

Sun, 08/31/2014 - 03:06
When I first started to look at marijuana I went into the library, and this was in 1967, because many of my friends in Cambridge were using it and I would say to them, "You mustn't do that. That's harmful. You really shouldn't smoke that." I was an arrogant young doctor ... But then I began to question – well, now, what do I actually know about its harmfulness? So I took that time to go in there and start to look at that and I had an epiphany. This is a remarkably nontoxic drug and here we are ...

Dr Kissinger on the New World Order Editorial or Policy Statement

Sat, 08/30/2014 - 03:06
Dr. Henry Kissinger has written an article entitled, "Henry Kissinger on the Assembly of a New World Order" posted at The Wall Street Journal. It's an important article written by an important man. Dr. Kissinger, the Journal tells us, "served as national security adviser and secretary of state under Presidents Nixon and Ford." And his article is "adapted from his book 'World Order' " – apparently set for a September 9th unveiling from publisher Penguin Press. You really have to read between the ...

The Regulatory Attack on US Business Is Not the Real Problem

Fri, 08/29/2014 - 03:06
The Economist magazine has decided a major problem with the US economy is that its largest multinational corporations and banks are being held for ransom by avaricious lawyers. The magazine in this issue reports that "Bank of America, JPMorgan Chase, Citigroup, Goldman Sachs and other banks have coughed up close to $50 billion for supposedly misleading investors in mortgage-backed bonds." Meanwhile, as the post continues, "BNP Paribas is paying $9 billion over breaches of American sanctions ...

The EU Eats Itself

Fri, 08/29/2014 - 03:04
Even though half of Europe seems to be standing in breadlines, Eurocrats have other concerns. They keep pounding out unnecessary laws. The amount of regulation produced by Brussels is staggering but now the absurdity is ascending into the stratosphere as the EU bans high-powered domestic items such as hairdryers and smartphones. This comes after an about-to-be-implemented ban on powerful vacuum cleaners that is already being challenged by one large company but which comes into force in September ...

Bloomberg Shock Economics Is Storytelling Not Science

Thu, 08/28/2014 - 03:06
Bloomberg's Noah Smith is back with an editorial explaining that even though economics isn't a science, it's still a swell "culture." What's funny about this article is that Smith's admission as to what economics really is corresponds entirely to the points that Austrian economists have made regarding economics: It's not a science and not especially predictive. Of course, Mr. Smith would not mention Austrian, free-market economics in his current column, as he doesn't like Austrian economics. We ...

Use of Marijuana Said to Reduce Deaths From Painkillers by Almost 25 Percent

Thu, 08/28/2014 - 03:04
How quickly times change. Yesterday, marijuana was a criminal offense virtually the world over. Today, research is finding that those who ingest it lessen their dependence on prescription painkillers and thus, apparently, are not so subject to their potential deadly effects. This is certainly one of the less publicized but nonetheless important issues regarding marijuana versus pharmaceutical medicine. The medicines being offered via the pharmaceutical model are often extremely concentrated and ...

Halbig v Burwell A Technicality Could Change Your Life

Thu, 08/28/2014 - 03:02
The Patient Protection and Affordable Care Act (PPACA or Obamacare) became law in early 2010. Arguably, it is the single greatest assault on the right of individuals to control their own bodies that America has seen in decades. Few matters are more intimate than medical choice; it includes decisions about giving birth, having sex and the time to die. Obamacare is a Kafkaesque mass of regulations that usurp these choices in the guise of providing them. Obamacare nationalizes the body of every ...

Americas Corrupt Institutions

Thu, 08/28/2014 - 03:01
Every public institution in the United States and most private ones are corrupt. To tell this story would be a multi-book task. Lawrence Stratton and I have written one small volume of the story. Our book, The Tyranny of Good Intentions, now with two editions and multiple printings, documents the corruption of law in the United States and has been cited in rulings by Federal District and Appeal Court judges. Law is just one public institution, but it is a cornerstone of society. When law goes, ...

Put Politicians in Charge to Improve Economic Performance

Wed, 08/27/2014 - 03:06
Ellen Brown is back with another of her brilliant yet flawed analyses of the modern financial scene. Her idea, which she admits is not entirely original, is that the international debt paradigm is starting to change dramatically, to the further detriment of the developing world. She points to Argentina as an example of how the West's debt exploitation is growing grimmer and more invasive. Here's more: "The upside for Argentina was captured by President Fernandez in a nationwide speech on August ...

Shock CFR Suggests That Central Banks Print Money and Hand It Out Directly to Consumers

Wed, 08/27/2014 - 03:04
The high-profile website ZeroHedge caused a stir yesterday by presenting an article (see above) that appeared in the CFR's Foreign Affairs magazine. The article called for the Federal Reserve to hand out money directly to consumers. Wow. The article was of interest to us because of the bluntness of the remedy and also because it further advanced several elite dominant social themes that we've been analyzing for months. As predicted, there is a new strategy at work, one that has now predictably ...

Continued EU Weakness Gives Rise to Two Inflationary Trends

Tue, 08/26/2014 - 03:06
What does the future hold? More and more money stimulation it would seem. China – the BRICS – and the US are printing endless gouts of money, and now it appears as if the European Union is headed in the same direction. In fact, the EU cannot simply print, as the Germans stand in the way. But according to this article and others, the German economic situation is declining, so perhaps there will be less pushback to plans to stimulate. Certainly, without German economic vitality, the eurozone is ...

Revolt of the Luddites Berlin Moves Against Uber and Airbnb

Tue, 08/26/2014 - 03:04
Berlin is leading the way for neo-Luddites, confronting both Internet-based taxi services and lodging facilities. Most of the sectors where the Internet is having the most dramatic effect are heavily regulated and thus inefficient and lacking in consumer choice. A prime example of this is "Uber" – an Internet-based transportation app. Another is Airbnb, a lodging facility. Here's more from the Guardian regarding Uber: "A senate statement said Uber – already banned in Hamburg – also failed to ...

Fighting Deflation Results in Inflationary Disaster

Tue, 08/26/2014 - 03:02
For more than a decade, now, Federal Reserve policy has been guided by the fear of one economic bogeyman: the presumed danger of "price deflation." The fear is unfounded and the inflationary "solution" only leads to disaster. During Alan Greenspan's and Ben Bernanke's watches at the helm of America's central bank and now under Janet Yellen, the claim has been that the U.S. needs enough price inflation to ward off the danger of falling prices. Indeed, it was the concern around 2003 that America ...

Market Crash The Moon Is Blue and Reuters Makes a Reasonable Prediction

Mon, 08/25/2014 - 03:06
The moon is blue and we agree with Reuters. Yes, this is an unusual occurrence, especially with this particular columnist. But we do agree with his summation: Equity markets – especially the US market – are due for a correction, but not one that will necessarily ruin the Wall Street Party. The difference between our view and this columnist is that we do not believe the stock market can be analyzed rationally – that it is at this point extremely artificial and more responsive to regulatory ...

Nobel Prize Winners Rail Against Income Inequality

Mon, 08/25/2014 - 03:04
The big brains have figured out that capitalism is a failure. That's the gist of this UK Telegraph article. What's the solution? Enforced income equality, maybe even a universal living wage. We've written about that here: "Profoundly Immoral, Increasingly Popular, the 'Unconditional Basic Income' Becomes a Meme" This is not just a meme, it's a kind of raging forest fire, a conflagration that is burning up the pages of the mainstream media – digital or not. And now its infection has spread to the ...

The Fate of Galts Gulch Chile

Mon, 08/25/2014 - 03:02
Many have wondered about the status of Galt's Gulch Chile (GGC), the libertarian community that was planned and sold in lots as a liberty oasis for those who wished to live freedom before they died. My husband and I purchased an option on 1.25 acres in July 2013. Others bought 10- or 25-acre lots and some invested in the agricultural side of the venture; extremely savvy investors committed small fortunes. GGC has been an unexpectedly wild ride since then. Shortly after purchasing, I received an ...

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