Must Reads For The Week 5/23/15

Posted May 23, 2015 by austrianaddict
Categories: Must Reads For The Week

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The pen is mightier than the sword...

 The pen is mightier than the sword… (Photo credit: mbshane)

LETS START WITH TECH

Electroloom Is a 3D Fabric Printer In The Making, by Natasha Lomas, at techcrunch.com. This is mind-blowing. Even when I watched the video of the 3D printer in action, I thought, what am I watching? The one question I had when I watched the video was; Why did they go to China to make Electroloom into a more usable product? Why couldn’t they do what they wanted to do here? Was Government regulations a reason they couldn’t finish there work here? I’m just asking, I don’t know why.

BioBots Is A 3D Printer For Living Cells, by Natasha Lomas, at techcrunch.com. BioBots can “build 3D living tissues and miniature human organs for research and pre-clinical screening, such as drug testing as a replacement for animal testing“. You can test on more complex human cells instead of less complex animal cells. A step forward to the possibility of 3D printing usable human organs.

Bocusini Will 3D Print Your Food Like A Fine Robotic Pastry Chef, by John Biggs, at techcrunch.com. The 3D printer uses small cartridges of chocolate, fudge, sugar, and marzipan, to create tasty small objects. I the day coming when you can fill the cartridges with some type of eatable food product that can be transformed to taste like your favorite meal.

GOVERNMENT INTERVENTION

Warning: Put Away All Sharp Objects!

Illinois, Chicago Run Out Of Options, Christine Williamson, pionline.com. Years of kicking the pension can down the road has finally caught up with politicians and bureaucrats.

Where Greeks Are Stashing Their Cash—German Cars, Not Mattresses, at davidstockmanscontracorner.com. When a currency is perceived to be loosing its value, people will not hold it. They will exchange it for goods. The Greeks are getting German cars, and the Germans are getting printed depreciating currency. It’s a something for nothing exchange.

School Cafeteria Food Fight: FLOTUS vs. Students, at tammybruce.com. Students are posting photos of their paltry lunches on social media. The US Department of Agriculture has decided to post photos to counter act the students photos. All I know is, you are not going to win a social media food fight with young people if you make it an, us against them scenario.

The Governments Message For Heavily Indebted Students: Don’t Pay Us Back, at zerohedge.com. The Federal Government takes over student loans. Than it hooks students into huge debt. Now it is taking the first steps to forgive the loan balances. Is this the start of Universal College Education, like Universal Health Care. Watch out tax payers.

Regulations Holding Back U.S. Energy Infrastructure Investment, by Mark J. Perry, at investors.com. In New England, a pipeline shortage caused by unpredictable Government regulations, has led to significantly higher costs of electricity and natural gas. We’re shooting ourselves in the foot with over regulation.

Net Neutrality: Obama’s FCC Puts Internet, American Innovation At Risk, by George Gilder, at discovery.org. George Gilder knows about the economics of technology. This is ‘the’ must read of todays must reads.

DEA Strikes Again: Seize Mans Life Savings Under Civil Asset Forfeiture Without Charges, at zerohedge.com. This is a clear violation of the Fourth Amendment. How can this go on in America. This is the kind of thing that happened behind the iron curtain back in the day.

Why Minimum Wage Laws Are ‘Phased In’, (Hint: It’s An Attempt To Hide The Terrible Consequences). by Bryan Caplan, at economicpolicyjournal.com. Obamacare was and is being phased in like this. When consequences happen gradually, people don’t notice as much. Even though the end result is still the same: fewer jobs at the higher price.

JUST LAUGH OR YOU’LL LOOSE YOUR MIND

Al Sharpton’s Daughter Suing NYC For $5 Million Over Ankle She Sprained On Soho Sidewalk, at dailymail.co.uk. She said the sprain left her in “permanent pain and mental anguish”. Who says kids don’t learn from their parents?

Thomas Sowell Interprets President Obama’s Political Rhetoric

Posted May 22, 2015 by austrianaddict
Categories: Government and Politics

Tags: , , , , , , ,

Thomas Sowell

No one puts so much substance into so few words as Thomas Sowell. His article titled, ‘Just Asking’ (click here), in which he interprets President Obama’s rhetoric about poverty, is just his most recent example. I don’t need to waste your time by saying anything else. Lets get right to some excerpts from the article.

“In a recent panel discussion on poverty at Georgetown University, President Barack Obama gave another demonstration of his mastery of rhetoric — and disregard of reality.”

“One of the ways of fighting poverty, he proposed, was to “ask from society’s lottery winners” that they make a “modest investment” in government programs to help the poor.”

“Since free speech is guaranteed to everyone by the First Amendment to the Constitution, there is nothing to prevent anybody from asking anything from anybody else.”

Despite pious rhetoric on the left about “asking” the more fortunate for more money, the government does not “ask” anything. It seizes what it wants by force. If you don’t pay up, it can take not only your paycheck, it can seize your bank account, put a lien on your home and/or put you in federal prison.”

“So please don’t insult our intelligence by talking piously about “asking.”

And please don’t call the government’s pouring trillions of tax dollars down a bottomless pit “investment.” Remember the soaring words from Barack Obama, in his early days in the White House, about “investing in the industries of the future”? After Solyndra and other companies in which he “invested” the taxpayers’ money went bankrupt, we haven’t heard those soaring words so much.”

“Then there are those who produced the wealth that politicians want to grab. In Obama’s rhetoric, these producers are called “society’s lottery winners.”

“Was Bill Gates a lottery winner? Or did he produce and sell a computer operating system that allows billions of people around the world to use computers, without knowing anything about the inner workings of this complex technology?”

“Was Henry Ford a lottery winner? Or did he revolutionize the production of automobiles, bringing the price down to the point where cars were no longer luxuries of the rich but vehicles that millions of ordinary people could afford, greatly expanding the scope of their lives?”

Most people who want to redistribute wealth don’t want to talk about how that wealth was produced in the first place. They just want “the rich” to pay their undefined “fair share” of taxes. This “fair share” must remain undefined because all it really means is “more.”

“Obama goes further than other income redistributionists. “You didn’t build that!” he declared to those who did. Why? Because those who created additions to the world’s wealth used government-built roads or other government-provided services to market their products.”

And who paid for those roads and other government-provided services if not the taxpayers? Since all other taxpayers, as well as non-taxpayers, also use government facilities, why are those who created private wealth not to use them also, since they are taxpayers as well?”

“The real question is whether the investment of wealth is likely to be done better by those who created that wealth in the first place or by politicians. The track record of politicians hardly suggests that turning ever more of a nation’s wealth over to them is likely to turn out well. It certainly has not turned well in the American economy under Barack Obama.
“The fact that most of the rhetorical ploys used by Barack Obama and other redistributionists will not stand up under scrutiny means very little politically. After all, how many people who come out of our schools and colleges today are capable of critical scrutiny?
Related ArticleThomas Sowell: Obama vs. America, at austrianaddict.com.
Related ArticleThomas Sowell: Obama’s Failed Economic Policies, at austrianaddict.com.
Related ArticleThomas Sowell Compares FDR And President Obama, at austrianaddict.com.
Related ArticleThomas Sowell’s Vision Of The Anointed, at austrianaddict.com.

 

Seattle ‘Kayaktivists’ Protest Shell Oil Drilling Rig In Kayaks Made From Oil

Posted May 21, 2015 by austrianaddict
Categories: Miscellaneous

Tags: , , , , ,

 THEIR COST FREE UTOPIAN VISION HAS A HIGH PRICE

Do these protesters have any idea how many things they use in their daily lives are made from oil? Their kayaks, life jackets, paddles, neoprene wet suits, ink, and their plastic signs, are made from oil (list here).

Do they understand that fossil fuels are responsible for the low-cost energy that has powered the creation of our current standard of living? Solar and wind can’t produce enough power to maintain what we have today (read here), let alone trying power future growth.

Do they know that the wealth created, because of low-cost energy, has allowed us to clean up our environment? People in poor countries are just trying to win their daily battle against the planet (food, shelter, clothing), they can’t afford to clean up after themselves. China (the second biggest world economy) can’t even clean up after itself (see pictures here).

These activists want an “oil free future”. This ‘oil free future’ is a utopian vision that exists cost-free in the minds of these true believers. Do they think that getting rid of carbon based fuels has no consequences? Have they ever thought what that ‘oil free future’ would be like? They don’t even stop to think about how the world of today came to exist as it does. They are free to live in an oil free world if they so choose. They don’t have to use any products made from oil, and they don’t have to use any energy produced from oil or fossil fuels. They can go back to living a primitive lifestyle, no one is stopping them.

CLASH OF VISIONS: WHERE ARE WE HEADED?

In this article by Dave Harbour titled, Seattle Hearing On Shell’s Arctic Rig Docking: A Clash Of Visions, he talks about the differences between the two sides in this battle. Here are some excerpts from the article.

“If our civilization is to continue, our well-grounded public and private leaders need to wake up and undertake communication programs designed to better articulate the facts of free-enterprise, wealth creation, natural resource development, freedom and history to community members, young and old.”

“For every new generation of citizens and their elected leaders needs to be reminded of how America became great because of wealth producing natural resources.”

Our future generations of citizens also need to be taught how a country’s greatness — and perhaps its existence — can fast disappear without the means to sustain a desirable way of life.

 

Related ArticleMaking The World A Better Place – By Using More Fossil Fuels, by Alex Epstein.

Related ArticleClimate Change: Religion? Economics? Science? at austrianaddict.com.

 

Must Reads For The Week 5/16/15

Posted May 15, 2015 by austrianaddict
Categories: Must Reads For The Week

Tags: , , , , , , , , , , , , , ,
The pen is mightier than the sword...

 The pen is mightier than the sword… (Photo credit: mbshane)

Lilly Camera Drone Films And Follows You, at wired.com. The drone films your movements by following a tracking device worn on your wrist.

More Creative Destruction For Transportation: Here Comes Bridj, The App Based ‘Uber Of Bus Transit‘, by Mark J. Perry, at Carpe Diem blog. The most productive and least costly way of providing services and products will win out in a free market.

Reduce Healthcare Costs With MediBid, at medibid.com. Obamacare is creating a true free market in healthcare, as providers and consumers work together to find more cost effective methods. I can’t believe I just said something good about Obamacare. Unfortunately for the central planners, it is an unintended consequence of a bad policy.

Socialist Government Madness: French Retailers Can Now Hold Sales Only Twice A Year, at economicpolicyjournal.com. Why doesn’t the French Government just take over the retail business. They obviously think they are smarter than the people who “own” these businesses.

Hawaii’s $205 Million Obamacare Exchange Implodes, by Alexander Hendrie, at atr.org. Low enrollment will force the Hawaii Obamacare exchange website to shut down by the end of the year, in spite of tax payer funding to the tune of $205 Million. Government politicians and bureaucrats thought they were smart enough to run the healthcare system, They’re not! Bureaucratic central planning doesn’t work as well as voluntary cooperation among individuals when it comes to coordinating men’s activities.

The Best And Worst Cities To Start A Business, at economicpolicyjournal.com. I know this is hard to believe, but seven of the bottom ten worst cities for starting a business are in that low tax low regulation high tax high regulation State of California.

Denmark Legislates Cashless Society, at pymnts.com. Here is a quote from the article, “electronic payments make banking systems more productive and lessen the need for an informal or shadow economy, which isn’t taxed nor monitored by the government.” Why should government be monitoring everything you do? Money came to exist as a free market phenomenon, not as a creation of government. Government took over the creation of money after the fact. Going cashless won’t stop Governments ability to electronically print counterfeit money, it will just give them power to monitor every transaction that you make.

The War On Cash Destroys A Small Entrepreneur, at economicpolicyjournal.com. The IRS seized the cash deposits of this small business. Government is force. It can be used against anyone who bureaucrats and politicians want to wield it against. Going cashless, like Denmark, will make it easier for you to be monitored.

College Enrollment Drops As Millennials Re-Enter Work Force, by Justine Underhill, at yahoo.com. They are starting to figure out that taking on large amounts of college loan debt isn’t worth it.

This Is How Government Backed Education Debt Works, economicpolicyjournal.com. The Government is giving out loans to kids who would not normally qualify for the financing. Does this sound similar to how the housing bubble was created leading up the 08 collapse?

Helio Castroneves Takes To The Air During Practice At Indy.

 

Michelle Obama vs. Thomas Sowell On The Politics Of Race

Posted May 13, 2015 by austrianaddict
Categories: Government and Politics

Tags: , , , , , , ,

I heard audio clips of Michelle Obama’s commencement speech at Tuskegee University. In stead of relying on the clips I heard, I decided to listen to the whole speech to get a total understanding of the message she was trying to get across. In the video below, the speech starts at 9:10. Mrs. Obama does a good job telling the history of not only Tuskegee University but the Tuskegee Airman who flew in WWII. She talks of how racism was overcome by the efforts of each individual working and persevering to become the best they could be. It’s very inspiring.

Then at 24:00 – 27:30 it starts to veer off the inspirational tracks a little bit. This is the part I heard audio clips of, and you can listen to these if you choose. I won’t comment on them. What I found interesting was the part starting at 27:35. She gives the students the solution to take on the “deep-rooted problems” that they will face. Here is what she said.

“Our history provides us with a better story, a better blue print for how we can win. It teaches us that when we pull ourselves out of the lowest emotional depths and we channel our frustrations into studying and organizing and banding together, we can build ourselves and or communities up. We can take on those deep-rooted problems and together we can overcome anything that stands in our way.

At this point I’m thinking she is going to reference the beginning of her speech where these individuals didn’t let racism stand in the way of their accomplishments. They didn’t turn to Government or anybody else, they just figured it out and did it on their own. But instead, Mrs. Obama says this.

“And the first thing we have to do is vote. Not just once in a while…..Vote in every election at every level all of the time. Because here’s the truth. If you truly want a say in your community. If you truly want to have the power to control your own destiny, then you got to be involved. You got to be at the table. You got to vote, vote, vote, vote. That’s it, that’s the way we move forward. That’s how we make progress for ourselves and for our country.”

This is spoken like a true Statist. Gaining Government power is the answer. It’s what you should strive for? This is the complete opposite of what the founders of Tuskegee University, and the Tuskegee airman did.

I’m going to let Thomas Sowell respond to Mrs Obama’s comments in the video below. He is discussing his book Intellectuals and Race. I’ve said this before that nobody writes or speaks more clearly about race and culture than Thomas Sowell.

Thomas Sowell grew up in Harlem in the 40’s when there was more racism than there is today. He has said he is glad he didn’t grow up in Harlem in the 60’s when Government started their “Great Society”  programs to help blacks.

At 28:38 they show an excerpt form a speech President LBJ made at Howard University in 1965. LBJ talks about the plight of blacks. And the solution to their plight is Government, in general, and his Great Society Programs in particular. Watch up to 31:25 to hear Thomas Sowell’s response to LBJ’s speech.

About the plight of blacks today, Dr. Sowell says,“The first thing to be done is to understand that this was a result of policies begun in the 1960’s. This is not a legacy of what happened a hundred years before the 1960’s. He said he would roll back welfare and eliminate affirmative action, but it won’t happen because all “the incentives politically, are for black leaders to blame all problems in the black community on the larger society. And that enables them to take on the role of being the defender of the black community against enemies. Which in turn creates the situation in which many blacks don’t feel that anything that they do is going to help themselves, unless it is done politically as a group….” One of the most pathetic things I heard in recent years was a young black man saying at one point he thought he would join the Air Force and become a pilot. And then he said he realized that the white man is not going to let a black man become a pilot. And he was saying this decades after the Tuskegee Airman had established their reputation in combat in Europe. Hopelessness is one of the great products of the race industry.”

When asked “how do you make something out of yourself, as an African-American in America today”, he says; “The way anybody else would. You equip yourself with skills that people are willing to pay for.

Watch the whole video. It is worth the time.

 

Related ArticleThomas Sowell: The Economics And Politics Of Race, at austrianaddict.com.

Related ArticleBest Commencement Speech Ever? Adm. McCraven Gets My Vote, at austrianaddict.com.

Related ArticleRace Politics and Lies, by Thomas Sowell, at jewishworldreview.com.

Must Reads For The Week 5/9/15

Posted May 8, 2015 by austrianaddict
Categories: Must Reads For The Week

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , ,
The pen is mightier than the sword...

 The pen is mightier than the sword… (Photo credit: mbshane)

ECONOMIC LESSONS ABOUT PRICE FLOORS AND CEILINGS

NYC Mayor: Lets Bomb New York City With Rent Controls, at economicpolicyjournal.com. Rent control is a price ceiling. When the price of rent is not allowed to go above what the price would be under normal market conditions, an artificial shortage is created. Less is supplied at a lower price than a higher price, and more is demanded at the lower price than a higher price, creating a shortage of housing and a surplus of renters. It’s simple supply and demand.

Robert Reich: Economic Malpractice On The Minimum Wage, by Mark J. Perry, at carpediemblog. A minimum wage law is a price floor that a wage can’t go below. Watch the difference between the explanation about the minimum wage from Robert Reich, and the explanation by the Kahn Academy. Robert Reich is trying to fool people who are economically ignorant. When a wage is set at a rate higher than what that labor produces, the demand for that labor will decrease, creating unemployment. Less labor will be demanded at a higher rate than a lower rate, and more labor will be supplied at a higher rate than a lower rate, creating a surplus of labor or a job shortage.

Meet The Hotel Robot That Will Battle Minimum Wage Hikes, at economicpolicyjournal.com. When a wage is set higher than what the labor produces, the labor will go away. Automation is one way this will happen. Robert Reich forgot to mention this as well as some other salient points.

Free market prices coordinate supply of and demand for scarce goods and services. Government price controls, like minimum wage laws and rent control laws, are interventions that are factored into the economic law of supply and demand. Government force can’t do away with the economic reality of scarcity, it can only distort the coordination process.

MORE GOVERNMENT INTERVENTION

Ripple Labs Faces Fines From FinCEN, at payments.com. Ripple Labs is the first virtual currency exchanger to be fined by the Financial Crimes Enforcement Network. The Government wants to keep its monopoly on money creation via the Federal Reserve, by making virtual currency providers comply with anti-money laundering laws. This is curious because the US Treasury and the Federal Reserve are running the biggest money laundering operation in the history of the world.

Obamacare Killer? Global Spending On Cancer Drugs Surges To $100 Billion, at economicpolicyjournal.com. Obamacare has taken over decision-making from what was left of a free market system in the healthcare system. Coordination of supply and demand through prices barely exists. Lobbying Government for protection and favors through Government decision-making is no way to run an industry, just ask the former USSR.

The Mysterious Source Of Surging Demand For GM Cars, Revealed, at zerohedge.com. The first trick to increase sales was channel stuffing. The second was subprime car loans. Now the Government has increased its purchases from Government Motors. Maybe it does pay to get into bed with the Government! They bailed GM out. They subsidised purchases of the Chevy Volt. Now they are buying cars, (for whom, I don’t know).

Government Using Subprime Mortgages To Pump Housing Recovery, Tax Payer Will Pay Again, at zerohedge.com. This didn’t end well last time, did it?

MISCELLANEOUS

Meet Three Kids Alive Today Thanks To 3D Printing, by Ashley Welch, at cbsnews.com. We are only scratching the surface of what can be done with 3D printing.

Creative Destruction: Newspaper Ad Revenue Continues Free Fall, by Mark J. Perry, at carpediemblog. The market (decisions by individuals), picks the most productive goods and services. I predict the print media will, at some point, ask for a Government bailout.

CNN Anchor, Chris Cuomo, Ignorant About The Constitution And Hate Speech, by Robby Soave, at reason.com. And Chris Cuomo has a law degree from Fordham University? He must have missed the class when they talked about the first amendment!

Hello Al Gore: Low Sun Spot Cycle Could Mean Another ‘Little Ice Age’, by Chriss Street, at americanthinker.com. Who would have ever thought that the sun is the most important factor when it comes to the earths temperature.

CARTOONS THAT MAKE YOU THINK

http://www.jewishworldreview.com/toons/horsey/horsey050115.jpg

http://media.cagle.com/205/2015/04/30/163369_600.jpg

http://i.imgur.com/G3PgdMW.jpg

 

Must Read “Leftovers”

Posted May 4, 2015 by austrianaddict
Categories: Leftovers

Tags: , , , , , , ,

The Last Of The Typewriter Men, at medium.com. A few months ago I went to a Notary to get an affidavit. I was taken back to my youth when the lady used an electric typewriter to fill out the paper work. Many people my age learned to type in high school on a typewriter. Kids today don’t know what a typewriter is. This article shows how  advances in technology have made previous technological advances obsolete. Although there is still a need for some of the knowledge

The Other Clinton Foundation Scandal, at investors.com. Only ten to fifteen cents of every dollar donated to the Clinton foundations went for charitable work. By comparison 90 cents of every dollar donated to Doctors Without Borders went for charitable work. The Clinton’s either have no understanding what this looks like to regular people, or they don’t care what it looks like.

Over Half Of The People Who Received Subsidies To Purchase Obamacare, Payed It Back To The IRS, by John Lott, at johnrlott.blogspot.com. The subsidy was a way to get people to buy insurance instead of paying the fine/tax for not having insurance. The fine/tax probably would have been cheaper for most people. Government will get your money by hook or by crook.

The Politics Of Police Brutality And Race

Watch the video below and get a different perspective on matters of police brutality and race. Politicians and the media can’t be trusted when they talk about these matters.

 

GOVERNMENTS WAR ON CASH

Government either wants you to spend your cash to help their Keynesian stimulus fantasy. Or you must keep it on deposit at a bank so the supply of money can be expanded, via our fractional reserve banking system, to help their Keynesian fantasy. Spending counterfeit money is a consumption activity that is not backed by any production. It makes us poorer. Production creates wealth, consumption destroys wealth.

The Bankster War On Cash: JP Morgan Chase To Prohibit The Storage Of Cash In Safety Deposit Boxes, at economicpolicyjournal.com. In selected markets around the country, Chase restricts the use of cash for payments on credit cards, mortgages, auto loans, and equity lines. I think it says, “This note is legal tender for all debts, public and private“, on all Federal Reserve Notes. Look at your cash and see if it says this.

Citi Groups Top Bankster Economist Issues Report Advising The Abolishment Of Cash, by Robert Wenzel, at economicpolicyjournal.com. Since interest rates are zero, people will hold cash instead of putting it in the bank where it can be used to increase the money supply further.

The War On Cash Migrates To Switzerland, at zerohedge.com. Negative interest rates create the incentive for pension funds to withdraw cash and hold it in a secure vault. Banks are refusing to allow withdrawals in these large amounts.

Cash Banned In Louisiana at Garage Sales, Flea Markets Etc. at economicpolicyjournal.com. The House in Louisiana passed a bill that banned the use of cash for secondhand goods. Pawn Brokers must have some political connections because they are exempt from the law, Goodwill isn’t. Government is over reaching at every level.

 


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