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Wealthy Psychopaths Hate Competition

Mon, 08/03/2015 - 03:06
That the super-rich are not like you and me is no surprise. Among other differences, they have billions of Federal Reserve Notes to their name – more than they can possibly spend. How does one join them? The author profiled in today's article asks that question. He finds that massive wealth most often arises from having "some sort of scheme for defeating the forces of market competition." Usually this includes "legal maneuverings" and "political influence." Your correspondent has long questioned ...

Politics Is Not the Path to Pro-Life Victory

Mon, 08/03/2015 - 03:04
During my time in Congress, I regularly introduced legislation forbidding organizations that perform abortions from receiving federal funding. The US Government should not force taxpayers to subsidize an activity they believe is murder. Thus, while I was horrified by the recently released videos showing Planned Parenthood officials casually discussing selling the organs of aborted babies, I am glad that the reaction to these videos has renewed efforts to end federal funding of abortion. My ...

Thieves Emporium Part 4 - The State Strikes Back

Sun, 08/02/2015 - 03:06
Part 4: The State Strikes Back The counterfeiting business, like any other, has fundamental economic constraints. At one end, operators must produce a product. That, in turn requires very specialized equipment and supplies, all of which cost money. The better the product is to be, the more it will cost to produce. In the case of the bills sitting in front of Weidemeyer, someone had invested enough to dent the budget of a small country. Assuming the objective is to make money, there is only one ...

Production Versus Plunder Part 18 The Re-conquest

Sat, 08/01/2015 - 03:06
It takes more than raw power to run a successful state; people must believe that laying their wealth at your feet is a righteous thing to do. This week, we'll look at a big part of how this idea came to Europe. Continued from last week... THE RE-CONQUEST The Church was not, however, willing to forgo military power. They knew its importance and wished to get it back. To do this, they would have to turn legitimacy into military power. During the 5th century, military power continually withdrew ...

Police Demand Compliance or Death

Fri, 07/31/2015 - 03:06
Today's excerpt is by Orin Kerr, a George Washington University law professor. The Sandra Bland arrest video he discusses will – or at least should – outrage anyone who respects justice and decency. The way the officer repeatedly screams, "I'm giving you a lawful order" suggests he defines "lawful" as "subservient to me." Still, Professor Kerr brings up a troubling quandary. It simply isn't possible in most situations for a citizen to know whether a police order really is lawful. As a practical ...

The Algorithm of Crowds

Thu, 07/30/2015 - 03:06
Modern technology makes life easier, but it can also change our perception in potentially dangerous ways. For instance, the Internet lets us see news and political commentary from many different perspectives. Intuitively, this might seem positive. We can easily examine various viewpoints and make informed decisions. What really happens, though, is that people read only news sources that tell them what they want to hear. This reinforces the positions they already hold and makes them less likely ...

Nowadays Health Insurance Isnt Really Insurance

Thu, 07/30/2015 - 03:04
Due to Obamacare, my health plan has become something other than insurance. It is now, for the most part, nothing other than a wealth transfer scheme to benefit the politically connected over others. In order to identify the difference between health insurance and government-mandated health care coverage, we can look to Human Action, in which Ludwig von Mises splits probability into class probability and case probability: "Class probability means: We know or assume to know, with regard to the ...

Alaska Socialist Workers Paradise

Wed, 07/29/2015 - 03:06
In the 2008 election, Tea Party conservatives embraced Alaska Governor Sarah Palin as one of their own. Many still revere her and insist the "liberal media" distorted her record. In fact, no one needed to distort Palin's record; reality was bad enough. She rose through the political ranks of a state that practices socialist principles no less fervently than Bernie Sanders. A state that owns the means of production and then allocates the spoils is many things, but it is certainly not capitalist. ...

Drivers Beware The Costly Deadly Dangers of Traffic Stops in the American Police State

Wed, 07/29/2015 - 03:04
Samuel Dubose, also unarmed, was pulled over for a missing front license plate. He was reportedly shot in the head after a brief struggle in which his car began rolling forward. Levar Jones was stopped for a seatbelt offense, just as he was getting out of his car to enter a convenience store. Directed to show his license, Jones leaned into his car to get his wallet, only to be shot four times by the "fearful" officer. Jones was also unarmed. Bobby Canipe was pulled over for having an expired r ...

Hackers Can Use Your Car to Kill You

Tue, 07/28/2015 - 03:06
The news last week that "friendly" hackers could seize remote control of a vehicle forced Fiat Chrysler to recall 1.4 million vulnerable cars and trucks. Fiat Chrysler said in its statement, "The Company is unaware of any injuries related to software exploitation, nor is it aware of any related complaints, warranty claims or accidents – independent of the media demonstration." This carefully worded phrase may be true, as far it goes, but skeptics have suspected foul play in several fatal crashed ...

The Freedom to Move Personal Liberty or Government Control Part II

Tue, 07/28/2015 - 03:04
There are many economic fallacies that surround the issue of freer or open immigration into the United States, and few of them can stand up to serious critical examination. The Fallacy that Immigrants "Steal" Jobs from Americans: Opponents of more open immigration sometimes argue that the arrival of more immigrants means the threatened loss of jobs for those already living in the country. The often-implicit assumption behind this argument is that there are a fixed number of jobs in the country ...

US General Spits on Constitution

Mon, 07/27/2015 - 03:06
Last week we featured a refreshingly candid retired U.S. general. Today we have another one, who is far too candid in the opposite direction. General Wesley Clark thinks the government should send "radicalized" Americans to internment camps. We need not explain to Daily Bell readers the many reasons this is wrong. The story is significant for other reasons. First, General Clark doesn't otherwise fit in the right wing, law-and-order camp. He made a brief presidential bid in 2004 on the Democratic ...

Do We Need to Bring Back Internment Camps

Mon, 07/27/2015 - 03:04
Last week, Retired General Wesley Clark, who was NATO commander during the US bombing of Serbia, proposed that "disloyal Americans" be sent to internment camps for the "duration of the conflict." Discussing the recent military base shootings in Chattanooga, TN, in which five US service members were killed, Clark recalled the internment of American citizens during World War II who were merely suspected of having Nazi sympathies. He said: "back then we didn't say 'that was freedom of speech,' we ...

Doomsayers Doomed in Washington State Marijuana Debate

Mon, 07/27/2015 - 03:02
Legal recreational marijuana use in the state of Washington is now two-and-a-half-years old and retail sales of marijuana have been legal for one year. What are the results of this experiment? Who was wrong and who was right on legalization? A new study has been released by the Drug Policy Alliance, a group that openly promotes "harm reduction policies" such as drug legalization, drug decriminalization, legal medical marijuana, and needle exchange programs. The study tracks several of the key ...

Thieves Emporium Part 3 - Twin Banknotes

Sun, 07/26/2015 - 03:06
Part 3: Twin Banknotes. Seven years before Dancing Fawn made her first crossing, two men sat in a large, well-appointed Federal Government office. One, the older, leaned over his heavy desk with the air of patient expectation. The other, the younger of the two, sat at a table in the middle of the room. In front of him were two clear plastic envelopes. Each contained a single $100 bill. One was crisp, new and uncirculated. The other showed slight wear. The younger man wore a jeweler's loupe and ...

Production Versus Plunder Part 17 Platos Apostle

Sat, 07/25/2015 - 03:06
There's a reason why Hobbes and Rousseau are revered thinkers to this day: they saved the legitimacy of rulership as the Divine Right of Kings was failing. Performing the same job more than a thousand years earlier was a man named Augustine of Hippo. We'll examine. Continued from last week... PLATO'S APOSTLE Once Constantine had moved his capital to the east, the Western Empire was more or less left to its fate. Certainly there were titular emperors who wanted to restore the glory that had been ...

Banks GMOs and Tail Risk

Fri, 07/24/2015 - 03:06
The two authors of today's story draw an interesting parallel between financial manipulation and genetic manipulation. Both, they say, are interventions in complex, imperfectly understood systems that risk dangerous negative consequences. Big Finance and Big Agriculture certainly have similar influence on their respective regulators. Their generous political contributions and the revolving door between their executive suites and government service ensures both industries face little resistance ...

No Compensation to Israel for Iran Deal

Fri, 07/24/2015 - 03:04
In The Joys of Yiddish, Leo Rosten defined chutzpah as "that quality enshrined in a man who, having killed his mother and father, throws himself on the mercy of the court because he is an orphan." Today we have a new paradigm for chutzpah: the Israeli government's demand for "compensation" from the American taxpayers for the Iran nuclear agreement. Israel's Defense Minister Moshe Ya'alon told the Times of Israel that during U.S. Defense Secretary Ash Carter's visit the Israeli government would ...

Who Is Frustrated at the Fed

Thu, 07/23/2015 - 03:06
We have to wonder what Michigan Republican Rep. Bill Huizenga is thinking. His effort to remove the New York Fed's permanent position on the Federal Open Market Committee is probably doomed to failure. It will accomplish almost nothing of consequence in the unlikely event it succeeds. Give him credit for trying, though. The reason the New York Fed president is always a voting FOMC member is that his bank's trading desk implements whatever policy the committee approves. This made perfect sense ...

Central Banks and Our Dysfunctional Gold Markets

Thu, 07/23/2015 - 03:04
Many investors still view gold as a safe-haven investment, but there remains much confusion regarding the extent to which the gold market is vulnerable to manipulation through short-term rigged market trades, and long-arm central bank interventions. First, much of the gold that is being sold as shares, in certificates, or for physical hoarding in dubious "vaults" just isn't there. Second, paper gold can be printed into infinity just like regular currency. Third, new electronic gold pricing ...

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