Friday, April 29, 2011
Tuesday, April 12, 2011
a treasure trove of libertarian literature
Mises Institute online library
"The most complete online offering of the literature of the Austrian School and libertarian ideas, including books, journal articles, and other writings, sorted by author or any method you choose"
"The most complete online offering of the literature of the Austrian School and libertarian ideas, including books, journal articles, and other writings, sorted by author or any method you choose"
Monday, April 11, 2011
Money, Bank Credit, and Economic Cycles - Jesus Huerta de Soto
"The result is astonishing: an 875-page masterpiece that utterly demolishes the case for fiat currency and central banking, and shows that these institutions have compromised economic stability and freedom, and, moreover, are intolerable in a free society."
Money, Bank Credit, and Economic Cycles - Jesus Huerta de Soto
Mises Institute does it again! what a great resource for scholars available at their fingertips, I think MI is leaving money on the table not doing a subscription based online library
Money, Bank Credit, and Economic Cycles - Jesus Huerta de Soto
Mises Institute does it again! what a great resource for scholars available at their fingertips, I think MI is leaving money on the table not doing a subscription based online library
Friday, April 8, 2011
Gold takes $1475 level, Oil takes $112 level, US$ stakes new 52-week low
UPDATE: Oil took out the $113 level by the close, on a 2.25% surge - USD gave up the 75 level
The Anticapitalistic Bias of American Intellectuals - Ludwig von Mises
The Anticapitalistic Bias of American Intellectuals - Ludwig von Mises - Mises Daily
the professional intellectuals, especially of the mediocre kind, gravitate towards direct/indirect employment by the state as a praxeologically rational choice ("benefits" and "security", I hear, are big keywords) as employment by the markets is hazardously related to the quality of results produced by one's intellectual efforts, and the jeopardy of competition measured in those terms
the persistence of caste systems well into the capitalist age cannot be explained by Mises, although his observations are completely accurate, because what he saw was the practical application of the idea in "secure the fruits of liberty to ourselves and for our posterity", whereby the perpetuation or (capitalistically inevitable) annihilation of the caste system is a matter entirely reserved to the volition of those indicated by "ourselves" and "our posterity" or, in other words, it is entirely up to the signatories of the constitution and their offspring to admit of any amendment to the definition of "ourselves" and "our posterity", only from which would then result the swift dismantling of the caste system in favor of a capitalistically rational society of high individual mobility and low information asymmetry - such a society, however, will put into rapid obsolescence ideas and philosophies (like eugenics) that derive from the false conception called "race", along with all other endogamous hierarchies that are predicated on unearned wealth secured by the application of state force, in defiance of nature's own distribution of human abilities
the professional intellectuals, especially of the mediocre kind, gravitate towards direct/indirect employment by the state as a praxeologically rational choice ("benefits" and "security", I hear, are big keywords) as employment by the markets is hazardously related to the quality of results produced by one's intellectual efforts, and the jeopardy of competition measured in those terms
the persistence of caste systems well into the capitalist age cannot be explained by Mises, although his observations are completely accurate, because what he saw was the practical application of the idea in "secure the fruits of liberty to ourselves and for our posterity", whereby the perpetuation or (capitalistically inevitable) annihilation of the caste system is a matter entirely reserved to the volition of those indicated by "ourselves" and "our posterity" or, in other words, it is entirely up to the signatories of the constitution and their offspring to admit of any amendment to the definition of "ourselves" and "our posterity", only from which would then result the swift dismantling of the caste system in favor of a capitalistically rational society of high individual mobility and low information asymmetry - such a society, however, will put into rapid obsolescence ideas and philosophies (like eugenics) that derive from the false conception called "race", along with all other endogamous hierarchies that are predicated on unearned wealth secured by the application of state force, in defiance of nature's own distribution of human abilities
Wednesday, April 6, 2011
Crony capitalism strikes again, Fed juices speculators
David Stockman chimes in again, not a happy camper
"Someone has to stop the Federal Reserve before it crushes what remains of America’s Main Street economy.
In the last few weeks alone, it launched two more financial sector pumping operations which will harm the real economy, even as these actions juice Wall Street’s speculative humors."
Tuesday, April 5, 2011
US Hubris and the Destruction of the Middle Class
America's economic system, which is based upon debt and Federal Reserve-generated inflation, benefits a chosen few while destroying the middle class.
"Since the supposed end of this economic recession in late 2009, the number of people added to the food stamp rolls has increased by 8 million. The annual cost for this program will reach $70 billion this year, up from $33 billion in 2007. If the economy is recovering and people are voluntarily leaving the workforce, why have the number of people on food stamps increased by 22% since the official start of the recovery? Why does the number of people going on food stamps go up every month? The answer is that there has been no economic recovery for the average American. Wall Street bankers and the ultra-wealthy elite are the only people who have experienced a recovery."
Gold ironically hits new record on 78th anniversary of FDR's infamous ban
April 5, 1933: A day that will live in infamy
the US$1450 level taken out by the gold bulls - another big wave coming up? can't argue against it, really can't...
our central banker has "no idea" about gold, by his own admission, an admission made with the typical keynesian arrogance, and without a trace whatsoever of shame or remorse deriving from having to reveal such stunning ignorance about money and its' history! personally, I found it *the* seminal moment of the whole darned mess, illuminating in a single, astonishing statement how preposterous the field of professional economics today really is, and how pathetic the thrall in which it holds professional politicians and media intellectuals alike
meanwhile, the US$ struggles mightily to retake the 76 level - another slide to new 52-week lows coming up? can't argue against it, really can't...
UPDATE
Aden sisters bullish on bullion (April 6, 2011, 11:17 a.m. EDT )
the US$1450 level taken out by the gold bulls - another big wave coming up? can't argue against it, really can't...
our central banker has "no idea" about gold, by his own admission, an admission made with the typical keynesian arrogance, and without a trace whatsoever of shame or remorse deriving from having to reveal such stunning ignorance about money and its' history! personally, I found it *the* seminal moment of the whole darned mess, illuminating in a single, astonishing statement how preposterous the field of professional economics today really is, and how pathetic the thrall in which it holds professional politicians and media intellectuals alike
meanwhile, the US$ struggles mightily to retake the 76 level - another slide to new 52-week lows coming up? can't argue against it, really can't...
UPDATE
Aden sisters bullish on bullion (April 6, 2011, 11:17 a.m. EDT )
Monday, April 4, 2011
Weber, Merkel quarrel over helping PIIGS
Commentary: Chancellor rips Bundesbank for lack of ‘solidarity’
this is getting as spicy as brockwurst gets, any minute now a porn studio will release a parody of the torrid Weber-Merkel affair... starring lookalikes of Arnold and Giselle, for ease of translation to US audiences
this is getting as spicy as brockwurst gets, any minute now a porn studio will release a parody of the torrid Weber-Merkel affair... starring lookalikes of Arnold and Giselle, for ease of translation to US audiences
Deals up: Wall Street is dealing again
Commentary: With cash, debt and confidence, M&A is about to boom
that is one of the answers, I suppose, to the question, what are companies and banks going to do with all this cash? what it is is that now TBTF is the thing to be! there is going to be a mad dash to merge one's way to economically irrational scale just to get on the 'preferred' list of the government - hey, if the government is going to be in the business of 'bailouts' then one would be remiss not to adapt accordingly, and to precisely that extent the customer interest will be compromised in the form of higher prices, lower quality, poorer service, all resulting from less competition
that is one of the answers, I suppose, to the question, what are companies and banks going to do with all this cash? what it is is that now TBTF is the thing to be! there is going to be a mad dash to merge one's way to economically irrational scale just to get on the 'preferred' list of the government - hey, if the government is going to be in the business of 'bailouts' then one would be remiss not to adapt accordingly, and to precisely that extent the customer interest will be compromised in the form of higher prices, lower quality, poorer service, all resulting from less competition
Scary interest burden on federal debt... the grinding sound is the economy downshifting
Commentary: Federal government is in a tight spot
one answer is being given here, forecasts for U.S. economic growth cut again
"It’s in a very tight spot.
Reassuring endnote: we’ve been around long enough to remember charting similarly frightening trends in the late 1970s and 1980s. It turned out these trends can be reversed surprisingly quickly by economic growth.
But where is economic growth coming from now?"
one answer is being given here, forecasts for U.S. economic growth cut again
"Battered by poor weather and surging gas prices, the U.S. economy likely grew slower in the first three months of 2011 compared to the end of 2010, according to revised estimates of forecasters.
Over the past few days more than a dozen forecasters have chopped estimates for the first quarter. As a result, the MarketWatch survey of economists now puts the projected rate of growth at 2.4%, down from 2.8% just a week earlier and from 3.5% when the quarter began"
Official death toll in Egypt uprising doubles to over 800
Egypt's health ministry said on Monday that over 800 people were killed in the uprising against former president Hosni Mubarak - more than double the previous estimate of 384
the restraint, the camaraderie with the people shown by the military is the distinguishing feature of the Egypt revolution, but let us never forget the price paid in blood nevertheless - the conscience of an informed and connected global people simply will not go for this any more, this paradigm shift has to be embraced not resisted by state use of force
the restraint, the camaraderie with the people shown by the military is the distinguishing feature of the Egypt revolution, but let us never forget the price paid in blood nevertheless - the conscience of an informed and connected global people simply will not go for this any more, this paradigm shift has to be embraced not resisted by state use of force
Fannie and Freddie executives soaking it in, top 6 took $35 million
A federal watchdog criticized federal regulators' oversight of executive pay packages for top officials at Fannie Mae and Freddie Mac in a report published Thursday.
and these same clowns will be quick to be hollerin about how much Janie Dimon took home!
"The top six executives at the mortgage giants earned $35 million in the last two years, according to the report from the inspector general of the Federal Housing Finance Agency, which regulates the mortgage giants.
The firms were taken over by the government in 2008 and have cost taxpayers $134 billion. Both firms have seen heavy turnover at the senior ranks"
and these same clowns will be quick to be hollerin about how much Janie Dimon took home!
Subscribe to:
Comments (Atom)