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Updated: 4 hours 52 min ago

Chinas Bigness Has Little to Do With Growth Or Its Demise

Fri, 10/31/2014 - 03:06
Mainstream economists have finally discovered what we here at The Daily Bell have been predicting for about four years anyway, that Chinese growth is surely unsustainable. Now our favorite new mainstream media columnist, Bloomberg's Noah Smith, has written an article about the impending slowdown based on a paper (see excerpt above) by economists Summers and Pritchett. Mr. Smith is our new favorite because he seems engagingly simplistic, as when he labeled Austrian economics a "brain worm." This ...

Ephemeral Explanations Drive Golds Reality

Fri, 10/31/2014 - 03:04
We cover gold closely week to week and are ever more astonished at mainstream media reasons given for the travel of the dollar against gold. For one thing, gold is priced in dollars and while it may seem to be the most natural thing in the world to write "the price of gold," historically speaking this is a misperception. Gold has been around likely for tens of thousands of years as commercial enterprise. The fiat dollar has been around for about 100 years and probably will not be around much ...

Can Commerce Inspire

Fri, 10/31/2014 - 03:02
Commerce and Its Dubious Reputation: Given its reputation in many of the popular renditions of world religions and philosophies, commerce wouldn't be expected to inspire. Most of those who comment on such matters do not consider engaging in commerce to contain any measure of nobility or moral worth, but merely some practical or instrumental value. For example, the actual transaction in a purchase is taken to be of instrumental importance; however, most people hold that commerce fails to lend ...

QE The Fed Acts Decisively Or Not

Thu, 10/30/2014 - 03:06
The Federal Reserve, as expected, is distancing itself from the program known as "quantitative easing." This program involved purchasing various US securities with freshly printed money, presumably to add liquidity and confidence to the market. The program lasted several years but eventually poured money into the larger economy, causing many to worry about the results of monetary inflation. As a result, Fed officials began to retreat from the program. The Fed bought fewer and fewer securities. ...

Mexican Implosion Does Not Surprise Us

Thu, 10/30/2014 - 03:04
We have a provocative question regarding Mexico: Is there a larger sociopolitical plan to destabilize this great country? We've suggested this before, but the footsteps seem louder now. Perhaps the stage is being set for a collapse into chaos. And what will be the ultimate result? We suggest that one option is a de facto merger with the US – the beginning of the long-rumored North American Union. Certainly, factors generating the appropriate chaos seem to be slipping into place and ...

The Free Market Kicks It Some Ebola Ass

Thu, 10/30/2014 - 03:02
The Ebola hysteria raises questions about how a free society would handle contagious diseases. Critics of freedom argue: libertarian principles, like the right against involuntary confinement, means that half the people on the planet could literally die from a lack of centralized state control. Left to their own devices, average people cannot solve their own problems. The opposite is true. In writing of quarantine policies, the economist Robert Murphy astutely observed, "In a free society where ...

Facebooks Long Strange Trip

Wed, 10/29/2014 - 03:06
We've been waiting for the Facebook implosion ever since the company went public. We were not alone in reporting on the disaster-in-the-making that was the overpriced IPO, but we were certainly correct. Our skepticism regarding the Facebook IPO was generated by our larger knowledge of the company and its apparent US intelligence ties. We figured that in some sense the US military-industrial complex was lined up behind Facebook and was going to milk the IPO for all it was worth. ...

The NRA Versus Asset Protection

Wed, 10/29/2014 - 03:04
This article in Mother Jones shows us how even organizations that might be expected to protect civil rights in the US are co-opted by the trend toward police militarization. The NRA has long stood as a bulwark against US fedgov overreach when it comes to firearms; the NRA has certainly resisted overly aggressive encroachments on gun rights based on the idea that citizens have the constitutional right to arm themselves. Of course, as we have pointed out, there is a hidden side to the NRA based on ...

Foreign Affairs Looking Offshore This Week

Wed, 10/29/2014 - 03:02
These changes in latitudes, changes in attitudes, Nothing remains quite the same. Through all of the islands and all of the highlands, If we couldn't laugh we would all go insane. ~ Jimmy Buffett (1977) There have been a lot of articles in the press over the last week about why Americans should consider a change in latitudes and attitudes and, yes, Buffet is usually right: If we couldn't laugh about the situation we would all go insane. First, we should look at other places to live, work and ...

Technocracy One More Elite Hustle

Tue, 10/28/2014 - 03:06
Call technocracy, the idea of a select group of private individuals running public affairs privately, the meme that will never die. Now again, almost randomly, comes a call for action. This one is uttered by someone called Clive Crook who has attended all the right colleges, worked for all the right internationalist publications and has decided absurdly that the example of the "independent" Federal Reserve ought to be extended to various failing government agencies. ...

Feds Move to Make Climate Change Solutions Part of Organic Food Production

Tue, 10/28/2014 - 03:04
We've been following the "organic promotion" meme and this article from the New York Times posted at the end of September further buttresses the transition of natural food from a private initiative to a public one. We haven't labeled this the "organic meme" because we believe there are plenty of farmers and producers in the US and the West generally that are dedicated to natural and whole foods while rejecting pro forma USDA labeling guidelines. We'll stick with "organic promotion." ...

Austrian Economist Who Should Have Received Nobel Prize

Tue, 10/28/2014 - 03:02
On October 13th, the 2014 Nobel Prize in Economics was announced in Stockholm, Sweden, with French economist, Jean Tirole, the recipient for his work on developing models to better assist governments in regulating private enterprise. A couple of weeks earlier, Reuters news agency had reported that the Austrian School economist, Israel M. Kirzner, was on the short list for consideration. In the eyes of many free market advocates, he would have been the far more deserving recipient for his ...

Beware EU Solutions Are Sometimes Problematic

Mon, 10/27/2014 - 03:06
So it is Monday and some results are in, as the article excerpted above explains. While the Ukraine parliamentary election results will be announced on October 20th from what we can tell, stress test results have turned out as expected with 25 banks out of 130 "failing." According to LaPrensa/EFE, Italy was the hardest hit, as it proved to have the "biggest capital deficit in the regional banking system." Here's more: "Italy's Monte Paschi and Banca Carige have yet to raise 2.9 billion euros ...

Cannabis Investing When Interests Converge

Mon, 10/27/2014 - 03:04
Long ago we analyzed the cannabis trend as one that was going to create vibrant ventures that, taken together, would generate a business no less powerful than that of the alcohol/beverage industry. And even with the inevitable setbacks, this projection holds, in our view. As proponents of a kind of directed history in which certain socioeconomic trends are in a sense selected for either success or failure, we're not surprised. For some reason – and we've speculated on several – there has been ...

Once-Peaceful Canada Turns Militaristic Blowback Follows

Mon, 10/27/2014 - 03:02
In 1968 the government of Canada decided to openly admit Americans seeking to avoid being drafted into the US war on Vietnam. Before, would-be immigrants were technically required to prove that they had been discharged from US military service. This move made it easier for Americans to escape President Johnson's war machine by heading north Although a founding member of NATO, Canada did not join the United States in its war against Vietnam. The Canadian government did not see a conflict 7,000 ...

Tibor Machan No Continued Militarism in the West

Sun, 10/26/2014 - 03:06
As someone who grew up under a communist regime, with no free press, no public debate of foreign affairs, with schools that were indoctrination camps and a nearly tyrannical bunch of rulers who seemed to believe that their destiny was to guide the workers of the world toward a utopian end state, I don't share your apparent assumptions and tend, in the main, to champion sound Western values. ...

Why the Tragic Ottawa Shooting Is a Potential Boon to the Canadian Cannabis Industry

Sat, 10/25/2014 - 03:06
The movement to legalize cannabis is in place. It will continue. And it leads to some interesting conclusions. One can argue, for instance, that the tragic shooting in Canada's capital city earlier this week may ultimately benefit cannabis decriminalization efforts. Once a meme is in place, almost anything can have unexpected consequences. More on that in a minute. First, let's focus on the pushback. This week certainly showed elements of pushback. The Seattle PI, for instance, reports that ...

The Bitcoin Experiment Continues Gold and Silver Persist

Fri, 10/24/2014 - 03:06
We´ve always been a little skeptical of bitcoin and have received plenty of slings and arrows for our apparently non-libertarian stance when it comes to this private, electronic technology. But we remain interested and this Bloomberg article caught our eye. This Bloomberg Quick Take, in fact, was first posted at the beginning of October and then updated yesterday. The short article asks two significant questions: What is money and can bitcoin become an accepted money regionally or worldwide? ...

The Hunt for Beneficial Bugs A Growing Meme

Fri, 10/24/2014 - 03:04
We've been writing a series of analyses of natural and organic farming and food; the above article in the Wall Street Journal fits right into this evolving meme. Corporations like McDonald´s are adopting "organic" as a kind of brand these days. But "organic" has a number of meanings going back decades (and actually thousands of years, in a sense.) Maybe referring to this evolving meme simply as "organic" does a disservice to those who use the word within a previous paradigm. Usually when memes ...

Bad Actors Dangerous Products and Working to Build the Right Solution

Fri, 10/24/2014 - 03:02
Last week a lengthy report on an apparently fraudulent and dangerous medical cannabis-related product was brought to my attention. It is not a pleasure to read – always the case when we come across bad news but this news is particularly distasteful, as it comes from my own field of specialty, expertise and passion. The special report from a group called Project CBD is entitled "Hemp Oil Hustlers," published October 14, 2014. It tells of not only shady business dealings and bad actors intent ...


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