U.S. Senate candidate Dr. Murray Sabrin on the government's latest power grab:
In what can only be described as a bad April Fool's Day surprise, the Treasury Secretary of a Republican Administration is proposing to begin "socializing" our capitalist system. Secretary Paulson is announcing today his plan to give the Federal Reserve more power and control over our economy. This is the same Federal Reserve whose loose monetary policy from January 2001 to January 2004 created the current housing bubble by lowering the federal funds rate from 6.5% to 1%. This is the same unaccountable monopoly that created bubbles in the 1920s, 1960s, 1970s, 1980s, 1990s and now in the first decade of the 21st Century by injecting "new money and credit" into the economy.
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Monday, March 31, 2008
On Money, Inflation and Government (Ron Paul)
Ron Paul on the evils of the Fed's new inflation scheme:
These past few weeks have provided an unfortunate opportunity to discuss inflation. The dollar index has reached new all-time lows. The total money supply, M3, as calculated by private sources, is growing at a disturbing 17% rate. The Fed is pumping dollars into the economy at an alarming rate. Just recently the Fed announced new loan auctions totaling $100 billion. That is new money created from thin air. If these money auctions, combined with the bailout of Bear Stearns, continue to be the trend, we are in for some economic stormy weather. The explanation lies in understanding the basics of money, and why it is dangerous to give government and big banks control over it.
Read the rest
These past few weeks have provided an unfortunate opportunity to discuss inflation. The dollar index has reached new all-time lows. The total money supply, M3, as calculated by private sources, is growing at a disturbing 17% rate. The Fed is pumping dollars into the economy at an alarming rate. Just recently the Fed announced new loan auctions totaling $100 billion. That is new money created from thin air. If these money auctions, combined with the bailout of Bear Stearns, continue to be the trend, we are in for some economic stormy weather. The explanation lies in understanding the basics of money, and why it is dangerous to give government and big banks control over it.
Read the rest
Not Putting It All Together (Butler Shaffer)
Butler Shaffer blogs that CNN can have the facts staring them straight in the face and still not get it:
CNN just had two back-to-back news reports. The first told of Aloha Airlines terminating all of its passenger service, due to financial difficulties. The second story told of the efforts of the U.S. and many European governments to eliminate the restrictions on airlines from one country flying to another. Now, CNN chirped, an American airline could schedule flights from New York to London as freely as it now flies from New York to Chicago. European airlines could schedule flights from London to Los Angeles with the same facility.
These reports could have provided CNN the opportunity to explain to viewers how the present plight of many airlines - as well as other businesses - stems from the restrictive and costly consequences of government regulation. What was presented as a creative effort by Western governments to deal with airline difficulties amounted to nothing more than the "bold" effort to enhance profitability by having governments get out of the way of those seeking profits!
What, instead, did CNN report on immediately after these two? The story of a dog that had been thrown off an overpass and survived!
CNN just had two back-to-back news reports. The first told of Aloha Airlines terminating all of its passenger service, due to financial difficulties. The second story told of the efforts of the U.S. and many European governments to eliminate the restrictions on airlines from one country flying to another. Now, CNN chirped, an American airline could schedule flights from New York to London as freely as it now flies from New York to Chicago. European airlines could schedule flights from London to Los Angeles with the same facility.
These reports could have provided CNN the opportunity to explain to viewers how the present plight of many airlines - as well as other businesses - stems from the restrictive and costly consequences of government regulation. What was presented as a creative effort by Western governments to deal with airline difficulties amounted to nothing more than the "bold" effort to enhance profitability by having governments get out of the way of those seeking profits!
What, instead, did CNN report on immediately after these two? The story of a dog that had been thrown off an overpass and survived!
Making Saints of Monsters (Thomas DiLorenzo)
Thomas DiLorenzo on how this country's greatest criminals are honored, even when their own words should condemn them:
In response to an LRC review of a (Distortion of) History Channel "documentary" on Sherman’s march to the sea by Clyde Wilson, Valerie Protopapas of Huntington Station, New York, took it upon herself to go to the library and research Sherman herself. Sherman’s History Channel image of a heroic and benevolent egalitarian just sounded like, well, like a lie to her. So out of the blue she wrote Professor Wilson (who now describes himself as a recovering academic historian) that "the truth about Sherman and his genocidal beliefs (and tactics) is, like Lincoln’s views on race and slavery, well reported but ignored."
That is, one can find the facts of history if one looks for them.
Read the rest
In response to an LRC review of a (Distortion of) History Channel "documentary" on Sherman’s march to the sea by Clyde Wilson, Valerie Protopapas of Huntington Station, New York, took it upon herself to go to the library and research Sherman herself. Sherman’s History Channel image of a heroic and benevolent egalitarian just sounded like, well, like a lie to her. So out of the blue she wrote Professor Wilson (who now describes himself as a recovering academic historian) that "the truth about Sherman and his genocidal beliefs (and tactics) is, like Lincoln’s views on race and slavery, well reported but ignored."
That is, one can find the facts of history if one looks for them.
Read the rest
Sunday, March 30, 2008
The Pastimes of Shooting the Messenger and/or Diverting Attention Never Get Old, Do They? (Wilton Alston)
Wilton Alston on the Ron Paul newsletters, Jeremiah Wright, and the dirty world of politics:
Ah, politics. The more things change, the more they remain the same. I knew there were reasons why I stopped voting and/or caring about national politics a while back, and now I remember what they were. I’ve ridiculed those involved in the mysticism that surrounds politics, and will very likely continue to do so. Hell, I’m not even a voter! I’ve heard voting described as the “suggestion box for slaves” or “two foxes and a sheep deciding on dinner,” and while I love a catchy line as much as the next guy, the simple fact of the matter is this: The people vying for control of the guns of the state don’t give a large rat turd about what I think. Always trying to be fair, they don’t care about your thoughts either! They never did. They never will. Welcome to my world.
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Ah, politics. The more things change, the more they remain the same. I knew there were reasons why I stopped voting and/or caring about national politics a while back, and now I remember what they were. I’ve ridiculed those involved in the mysticism that surrounds politics, and will very likely continue to do so. Hell, I’m not even a voter! I’ve heard voting described as the “suggestion box for slaves” or “two foxes and a sheep deciding on dinner,” and while I love a catchy line as much as the next guy, the simple fact of the matter is this: The people vying for control of the guns of the state don’t give a large rat turd about what I think. Always trying to be fair, they don’t care about your thoughts either! They never did. They never will. Welcome to my world.
Read the rest
Calvin & Hobbes and Public Schools (B.R. Merrick)
B.R. Merrick on how Calvin & Hobbes can tell us everything we need to know about the indoctrination camps known as public schools:
Contrary to what I used to believe, what everyone else believed, and even the artist himself may have believed, Calvin was not a rotten little kid. He had a vivid imagination, amazing coping ability, and an indomitable spirit. In my opinion, his rottenness is almost entirely the fault of well-meaning parents who simply misunderstood him, the poisonous instrument of television, and the hideous nature of regimented schooling.
Read the rest
Contrary to what I used to believe, what everyone else believed, and even the artist himself may have believed, Calvin was not a rotten little kid. He had a vivid imagination, amazing coping ability, and an indomitable spirit. In my opinion, his rottenness is almost entirely the fault of well-meaning parents who simply misunderstood him, the poisonous instrument of television, and the hideous nature of regimented schooling.
Read the rest
Laurence Vance: The Myth of the Just Price
Laurence Vance's excellent lecture at the Austrian's Scholar's Conference, where he shows that most Christians, including notable theologians and Christian "economists," have seriously flawed views on economics:
Laurence Vance: The Myth of the Just Price
(above video link is updated and does not cut off at the end)
Also see the transcript.
See my Mises Institute Videos blog post for more videos, or see the Mises.org media page.
Laurence Vance: The Myth of the Just Price
(above video link is updated and does not cut off at the end)
Also see the transcript.
See my Mises Institute Videos blog post for more videos, or see the Mises.org media page.
STR's Image Review of the Week
I almost always enjoy Strike the Root's Image Review of the Week on its blog, and this week's edition is no exception! The editor of the image review, Roger Young, has a knack for finding pictures and articles with great relevance.
Federal Reserve: “Can We Get A ‘Sieg Heil!’?” (Robert Kaercher)
Robert Kaercher on Bush's massive power grab:
In addition to initiating two major wars and vastly expanding the warfare state, adding on a whole new program to the costly state socialist health insurance boondoggle, innovating new legal interpretations in order to permit torture of mere suspects (including their children), and subjecting increasing numbers of Americans to government surveillance, George W. Bush is about to pull off one more massive Federal power grab before he leaves office:
Wow.
Read the rest
In addition to initiating two major wars and vastly expanding the warfare state, adding on a whole new program to the costly state socialist health insurance boondoggle, innovating new legal interpretations in order to permit torture of mere suspects (including their children), and subjecting increasing numbers of Americans to government surveillance, George W. Bush is about to pull off one more massive Federal power grab before he leaves office:
WASHINGTON - The Bush administration is proposing a sweeping overhaul of the way the government regulates the nation’s financial services industry from banks and securities firms to mortgage brokers and insurance companies.
The plan would give major new powers to the Federal Reserve, according to a 22-page executive summary obtained by The Associated Press.
The Fed would be given broad authority to oversee financial market stability. That would include new powers to examine the books of any institution deemed to represent a potential threat to the proper functioning of the overall financial system.
Wow.
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An Appeal to the Chinese People (Dalai Lama)
The Dalai Lama writes an open letter to the Chinese people about Tibet; due to the tyrannical censorship in China, who knows how many will have the opportunity to read it:
Today, I extend heartfelt greetings to my Chinese brothers and sisters around the world, particularly to those in the People’s Republic of China. In the light of the recent developments in Tibet, I would like to share with you my thoughts concerning relations between the Tibetan and Chinese peoples, and make a personal appeal to all of you.
I am deeply saddened by the loss of life in the recent tragic events in Tibet. I am aware that some Chinese have also died. I feel for the victims and their families and pray for them. The recent unrest has clearly demonstrated the gravity of the situation in Tibet and the urgent need to seek a peaceful and mutually beneficial solution through dialogue. Even at this juncture I have expressed my willingness to the Chinese authorities to work together to bring about peace and stability.
Read the rest
Today, I extend heartfelt greetings to my Chinese brothers and sisters around the world, particularly to those in the People’s Republic of China. In the light of the recent developments in Tibet, I would like to share with you my thoughts concerning relations between the Tibetan and Chinese peoples, and make a personal appeal to all of you.
I am deeply saddened by the loss of life in the recent tragic events in Tibet. I am aware that some Chinese have also died. I feel for the victims and their families and pray for them. The recent unrest has clearly demonstrated the gravity of the situation in Tibet and the urgent need to seek a peaceful and mutually beneficial solution through dialogue. Even at this juncture I have expressed my willingness to the Chinese authorities to work together to bring about peace and stability.
Read the rest
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