Archive for September, 2008

Barack Obama, window breaker extraordinaire

Monday, September 29th, 2008

Barack Obama and all of his Democratic supporters have already exposed themselves as true economic ignoramuses. It isn't getting any better. The veritable hero among knaves in the mainstream media, John Stossel, writes: Wow. Five million new jobs. All that work building windmills and creating biofuels are the "green jobs" that ...

Democratic voters are stupid, evil, or ignorant

Sunday, September 28th, 2008

Being a big-shot blagger is a stressful and demanding hobby. Similar to the evolution of rules, bylaws, punishments, and social mores in a customary-law society, our positions, assertions, and predictions are under constant judgment and scrutiny by the global community of readers and other blaggers, leading to the success of ...

Bailout-related question of the day

Sunday, September 28th, 2008

Who said this, and in what year? First right answer wins you a free beer (if no one guesses the year, the closest one wins). No cheating! Public opinion is perfectly right to see the end of the boom and the crisis as a consequence of the policy of the banks. ...

Quote of the day

Sunday, September 28th, 2008

"If a loose monetary policy and rapid asset price inflation were the route to economic prosperity, Argentina would be the richest country in the world by now." —Albert Edwards, Co-Head, Global Cross Asset Strategy Societe Generale From safehaven.com, via disinter.

Interest rates in market anarchism

Sunday, September 28th, 2008

I was quite fascinated by this post by Corktageous. It contains some good rebuttals of the anarcho-socialist/mutualist philosophies. You can read it and make of it what you will, but my purpose in this post is to ponder a little bit about interest rates, a topic that was brought up ...

The bailout is even worse than we know

Saturday, September 27th, 2008

I liked two rants that I found via this Chris Floyd post. The first is by Arthur Silber, whom Floyd is fond of quoting, and with good reason: ...the consequences we are now seeing are irrevocable and unavoidable. The bad debts must be accounted for and written off. A problem of ...

Learning monetary theory from Rothbard

Saturday, September 27th, 2008

Murray Rothbard was a much better writer on economics than Mises, though all of his economic ideas came more or less straight from Mises. Maybe I enjoy his writing style so much more because he was an American English speaker and was about two generations younger than Mises. Here is ...

Mob-rule is the answer

Wednesday, September 24th, 2008

Yeah, 'cause that worked real great in ancient Athens.

The Republocrats are ALL against us

Wednesday, September 24th, 2008

Brad at WendyMcElroy.com is right on the money: If the bailout accomplishes nothing else, it may expose the charade of the "two-party" system to a few more eyes. The Democrats' excuse for supporting so much atrocious Bush legislation (Patriot Act, use of force, Military Commissions Act, warrantless wiretapping, etc.) has traditionally been ...

Cops mistake hypoglycemia for drunkenness, beat man into coma

Wednesday, September 24th, 2008

Detroit resident Ernest Giglen was beaten by police officers who mistook his hypoglycemia as drunkenness, which led to his entering a hypoglycemic coma. I haven't heard of any police officers beating a diabetic man during a hypoglycemic shock before, preventing him from getting to the hospital quickly and making his ...

Learning monetary theory from Mises

Wednesday, September 24th, 2008

As brilliant as I sound on most matters that I write about, my grasp of monetary theory—the financial markets, banking, lending, credit, securities, how the fiat money system skews them all—is, to be honest, embarrassingly weak. The deficit is largely in my understanding of financial jargon. I experienced a similar, ...

Ownership key to saving fisheries

Monday, September 22nd, 2008

Writes Radley Balko: "The BBC somewhat surprisingly publishes the answer to the continuing tragedy of the commons that is the world’s fisheries: property rights!