Must Reads For The Week 8/16/14

Posted August 16, 2014 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)

Institute For Justice Takes On Unconscionable ‘Forfeiture Machine,’ That Turns Cops And Prosecutors  Into Robbers, by Mark J. Perry, at aei-ideas.org. People get worn down by the States bureaucratic maze and deep pockets. People who haven’t committed a crime give up rather than continuing the fight. This is another example of the break down of the rule of law.

Support Shaneen Allen, at economicpolicyjournal.com. Shaneen Allen got a concealed carry permit in Pennsylvania because she got robbed twice last year coming home from work. After getting pulled over in New Jersey for a traffic violation, she told the officer she had a concealed carry permit and a gun, not knowing the Pennsylvania permit wasn’t recognized in New Jersey. She now faces three years in prison. The Judge, and the cop, told her telling the truth got her in trouble. The moral of the story: Don’t volunteer information to cops, it can and will be used against you.

US Postal Service: Over $47 Billion In Losses In The Past Decade And Counting, at zerohedge.com. “Neither snow not rain nor heat nor operating in the red…..” Even though the Post Office is a Government agency, it is an example of how a crony capitalist business works. It generates revenue, but not enough to cover it’s costs and therefore must be subsidized by tax payers. Where as the Post Office started as a Government agency, a crony capitalist business starts as a free market entity and lobbies government for help via subsidy and regulation.

Creating Disrespect For The Law, by Milton Friedman, at libertypenblog.blogspot.com. This short video is from Milton Friedman’s 1980 Free To Choose series on PBS. The last half of the  video about the lady starting her own mail delivery service is interesting considering the above article.

District Drops Federal Lunch Program, by Jessica Brown, at cincinnati.com. The Federal Government gets people addicted to federal money just like a drug pusher gets someone addicted to heroin. Fort Thomas Independent schools in Kentucky was able to kick the heroin addiction. The lure of federal tax dollars is too tempting for most school districts to resist.

Remember When Obama Promised He Would Not Take Vacations If Elected President, youtube video. I don’t have any problem with Presidents, congressmen, and senators taking vacations. In fact, I wish all of them would take a 365 day vacation every year. No laws would get passed which means we would not loose anymore freedom, resulting in the country functioning better. This video also shows it’s easier being a candidate for President, than actually being the President.

NYC Taxi Medallion Prices Have Flat Lined For The Last Year, ‘ The Uber Effect‘, by Mark J. Perry, at aei-ideas.org. Competition from ride sharing services, Uber and Lyft, is breaking the Taxi Cartel in NYC.

Markets In Everything: A Sharing Service Like Lyft for Moving, by Mark J. Perry, at aei-ideas.org. Buddytruk provides a moving and hauling service using the same concept that Lyft and Uber use in providing ride sharing services.

Renewable Energy Is Not Working, by Matt Ridley, at rationaloptimist.com. Renewable (green) energy, even with subsidies, is more expensive and less reliable than carbon based fuels. Government tax payer subsidies are the only thing that is keeping this uneconomical idea propped up.

The Welfare State Summarized In One Cartoon, at zerohedge.com. Will the producers be able to keep pushing more and more people uphill?

http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2014/08/20140812_welfare.jpg

Confusing Capitalism With Fractional Reserve Banking, by Frank Hollenbeck

Posted August 14, 2014 by austrianaddict
Categories: Econ. 201

Tags: , , , , , , ,

File:20090110 money printing-01.jpg

Fractional reserve banking isn’t a part of a true free market capitalist system. It is intervention into the free market that Government, through the court system, has sanctioned. The Government sanctions it because it is how they fund the growth of government without the people knowing it is going on. People understand getting taxed, but understanding fractional reserve banking isn’t quite that easy. This article by Frank Hollenbeck titled, Confusing Capitalism With Fractional Reserve Baking, at mises.org, does a great job in explaining fractional reserve banking and it’s consequences. Here are some excerpts form the article explaining how fractional reserve banking came about.

“In the past, we had deposit banks and loan banks. If you put your money in a deposit bank, the money was there to pay your rent and food expenses. It was safe. Loan banking was risky. You provided money to a loan bank knowing funds would be tied up for a period of time and that you were taking a risk of never seeing this money again. For this, you received interest to compensate for the risk taken and the value of time preference. Back then, bankers who took a deposit and turned it into a loan took the risk of shortly hanging from the town’s large oak tree”

“During the early part of the nineteenth century, the deposit function and loan function were merged into a new entity called a commercial bank. Of course, very quickly these new commercial banks realized they could dip into deposits, essentially committing fraud, as a source of funding for loans. Governments soon realized that such fraudulent activity was a great way to finance government expenditures, and passed laws making this fraud legal.”

A key interpretation of law in the United Kingdom, Foley v. Hill, set precedence in the financial world for banking laws to follow:”

 

Foley v. Hill and Others, 1848:

“Money, when paid into a bank, ceases altogether to be the money of the principal; it is then the money of the banker, who is bound to an equivalent by paying a similar sum to that deposited with him when he is asked for it. … The money placed in the custody of a banker is, to all intents and purposes, the money of the banker, to do with it as he pleases; he is guilty of no breach of trust in employing it; he is not answerable to the principal if he puts it into jeopardy, if he engages in a hazardous speculation; he is not bound to keep it or deal with it as the property of his principal; but he is, of course, answerable for the amount, because he has contracted, having received that money, to repay to the principal, when demanded, a sum equivalent to that paid into his hands.”

In other words, when you put your money in a bank it is no longer your money. The bank can do anything it wants with it. It can go to the casino and play roulette. It is not fraud legally, and the only requirement for the bank is to run a Ponzi scheme…..”

“The primary cause of the financial panics during the nineteenth century was this fraudulent nature of fractional reserve banking. It allowed banks to create excessive credit growth which led to boom and bust cycles. If credit, instead, grew as fast as slow moving savings, booms and bust cycles would be a thing of the past.

“Banks will always be able to use new technologies and new financial instruments to stay one step ahead of the regulators. We continue to put bandages on a system that is rotten to the core. Banking in its current form is not capitalism. It is fraud and crony capitalism, kept afloat by ever-more desperate government interventions. It should be dismantled. Under a system of 100 percent reserves, loan banks (100 percent equity-financed investment trusts) would be like any other business and would not need any more regulation than that of the makers of potato chips.”

How many people would you have to ask to get the right answer to this question; Is the money you deposit in a bank yours, or the banks? They won’t believe you when you tell them it’s the banks money, and they probably won’t understand why, even after you explain it.

In a previous article titled, Keynes Was Correct In 1919 (here), I quote John Maynard Keynes from his book, The Economic Consequences Of The Peace, he said,  “There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

Keynes knew how difficult it is to understand money creation by the Fed through Fractional Reserve Banking.

Related ArticleThe Faults of Fractional-Reserve Banking, by Thorsten Polleit, at mises.org.

Related ArticleFractional Reserves and Economic Instability, by John P. Cochran, at mises.org.

 

 

 

 

Must Reads For The Week 8/9/14

Posted August 9, 2014 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)

Federal Bake Sale Ban Set To Hit Schools This Fall, by Barry Donegan, at benswann.com. Someone must have slipped some fine print into The Healthy Hungry Free Kids Act (read here) of 2010 that added bake sales to the list of “foods sold on school grounds” that must meet “strict nutritional requirements”. This act was Michelle Obama’s baby, but in the “do as I say not as I do” world  that tyrants live in, she sang a different tune at a White House event this week (read here). She said she told her children, “….to use Instagram to take a picture of something really important rather than their food…I mean, No one really cares what you had for lunch“.  So let me see if I have this correct: No one cares about what you buy at a bake sale, except food Nazis.

FBI To Hire Contractor To Analyze Media Coverage Of The Agency, by Zach  McAuliffe, at benswann.com. In true tyrannical fashion, the FBI is warning reporters to be very careful about writing negative stories about the agency. Just like the IRS, the FBI can make the cost of writing a negative story very high. It”s a subtle threat, but a threat none the less.

Toledo Residence Should Be Complaining About Greedy Water-Hording Panic Buyers During The Cities Water Crisis, by Mark J. Perry, at aei-ideas.org. This is a great article that turns the tables on the conventional wisdom that always complains about “price gouging” during a temporary shortage caused by a crisis. Shouldn’t the greedy person that buys more than they need be the bad guy? If we would just shut up and let prices ration the goods that are in short supply, we wouldn’t demonstrate our ignorance about economic laws related to supply and demand.

Central Planners Fail To Herd Money Market Funds Into Over Priced Stocks, at zerohedge.com. Since the Fed has cut it’s QE money printing from $85 billion a month to $25 billion a month, the central planners have to figure out a way to make up the difference in order to keep the stock market bubble pumped up. They saw $2.5 Trillion sitting in Money Market funds and decided to to after it. The SEC changed the rules pertaining to these funds, creating an incentive to purchase stocks instead of keeping them parked in Money Market funds. They essentially raised the cost of parking. But like all central planners plans, people acted differently than planned. They purchased Treasury Bills instead of purchasing stocks. Central planners will never learn.

Gun Grabbing City Councilman vs. Concealed Carry Citizen, youtube. I wrote a post this week titled Anti vs. Pro-Gun Visions Of The World. The difference in these visions are on full display in this video of a city council meeting in Oak Harbor Washington.

GE Looking To Sell It’s Appliance Division, fool.com. The appliance division has had sluggish sales since the recession. Since GE is a crony capitalist entity, it wants to sell this division instead of compete in the market. It’s easier to have as many of their divisions as possible be subsidized by Government instead of having them compete in the market without Government subsidies . GE capital, aviation, healthcare, energy (wind turbins), feed off of our tax dollars.

Will Tea Partiers Sink Mitch McConnells Kentucky Senate Reelection Bid, at economicpolicyjournal.com. Mitch McConnells antics in his primary and his support of Thad Cochran in the Mississippi Senate Primary, have alienated conservatives, tea partiers, and libertarians. For many of these people this is the marginal straw that has broken the camels back when it comes to voting for him in the general election. He has upset the wrong people.

Is Thinking Obsolete, by Thomas Sowell, at jewishworldreview.com. I don’t have to say much about this article, just read and enjoy. Here is the money quote, In an age when scientists are creating artificial intelligence, too many to our educational institutions seem to be creating artificial stupidity.”

The Ethanol Industry: An Engine Of Economic Destruction, by Joseph Salerno, at bastiat.mises.blog.org. The ethanol industry is a misallocation of scarce resources into an activity that wouldn’t exist if it wasn’t mandated by Government regulation and subsidized by tax dollars. This is a combination of environmental regulations going too far, and agribusiness seeing a pile of Government money that is there for the taking. What could have been produced with all of this wasted land, labor, resources, and capital?

 

 

Anti vs. Pro-Gun Visions Of The World

Posted August 5, 2014 by austrianaddict
Categories: Miscellaneous

Tags: , , , , , , , , , ,

Watch these two videos. The first is an anti-gun ad by Bloomberg’s anti-gun group, Everytown for Gun Safety. It shows how anti-gun people view the world.

The second is an ad for Glock inc. It shows how pro-gun people see the world.

A CONFLICT OF VISIONS

I saw these two videos when I read an article titled, New Bloomberg Anti-Gun Ad Inadvertently Proves Why Women Need Guns, by Katie Pavlich. It got me thinking about  Thomas Sowell’s book titled, A Conflict of Visions. In it he says, “One of the curious things about political opinions is how often the same people line up on opposite sides of different issues“. The people on each side of the gun issue are most probably on opposite sides of other issues, like the death penalty, abortion, welfare, monetary policy, economics, the role of Government etc. The reason is each side has a different vision of how the world works. These different visions make people talk past each other when discussing different issues. For the most part both sides probably want similar outcomes on many of these issues, unfortunately they have no common ideological road to travel, in order to logically reach a common end. It’s like trying to give someone directions on how to get to Chicago from New York, which is where you live, unfortunately they live in Denver. The directions would make no sense. This is the problem we all have when we discuss issues with other people. When talking to people, ask yourself: Where am I? Where are they? Do we have the same end in mind? Can we find common ground from which to start? Am I wasting my time?

CONSTRAINED VS. UNCONSTRAINED VISION

Dr. Sowell calls these two competing ideologies the constrained and unconstrained visions about the nature of man. The constrained vision sees man as inherently self-interested and morally limited. Instead of trying to change human nature, which is impossible if not cost prohibitive, people with the constrained vision want to produce the best possible outcome inside of these constraints. Incentives matter in the constrained vision. Dr. Sowell quotes Alexander Hamilton from The Federalist Papers: “It is the lot of all human institutions, even those of the most perfect kind, to have defects as well as excellencies- ill as well as good propensities. This results from the imperfection of the Institutor, Man“.

The unconstrained vision sees man as perfectable. Man has the potential to use his understanding and inclinations to grasp the concept that benefiting others is virtuous and being virtuous will make him happy. The unconstrained vision puts its efforts into changing mans nature, because they don’t see his inherent self-interest as a permanent state. Dr. Sowell quotes Marquis de Condorcet as rejecting the idea of “turning prejudices and vices to good account rather than trying to dispel or repress them“. The constrained vision of human nature confused, “..the natural man and his potential with existing man.

In the case of anti-gun and pro-gun, the differing visions is simple to explain. One side thinks the gun entices people to use it to harm another person. If it wasn’t for the gun this temptation wouldn’t exist. The other side believes evil people exist and they can be deterred or stopped by another person possessing a gun. The side of the gun debate you’re on probably depends on your vision of the nature of man.

PURPOSE OF “A CONFLICT OF VISIONS”

The book, A Conflict of Visions, does not try to “..determine which of these visions is more valid but rather to reveal the inherent logic behind each of these sets of views and the ramifications of their assumptions which lead not only to different conclusions on particular issues but also to wholly different meanings to such fundamental words as “justice,”  “equality,” and “power.”  “…this conflict of visions is as sharply contested today as it has been over the past two centuries.”

Dr. Sowell tries to answer the question of which vision is valid in two other books, The Vision Of The Anointed, and The Quest For Cosmic Justice.

 

THOMAS SOWELL DISCUSSING, “A CONFLICT OF VISIONS”

This video was made before the 2008 election. It is eerie how Dr. Sowell’s analysis was like a warning bell.

 

Related ArticleThomas Sowell’s Vision of the Anointed, at austrianaddict.com.

Related ArticleThomas Sowell Explains How Democracy And Freedom Are Not The Same Thing, at austrianaddict.com.

Related ArticleCapitalism vs. Crony Capitalism, at austrianaddict.com.

Related ArticleWhy Socialism Won’t Work? Human Nature, at austrianaddict.com.

Must Reads For The Week 8/2/14

Posted August 2, 2014 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)

Happy 102nd Birthday Milton Friedman, by Mark J. Perry, at aei-ideas.org. Although not a favorite of Austrian economists, reading his book Free to Choose started me on the correct road. This article has many great quotes, like this one: President Kennedy said, “Ask not what your country can do for you — ask what you can do for your country.”… Neither half of that statement expresses a relation between the citizen and his government that is worthy of the ideals of free men in a free society. “What your country can do for you” implies that the government is the patron, the citizen the ward. “What you can do for your country” assumes that the government is the master, the citizen the servant.

The Invisible Hand Of Government, at libertypenblog.blogspot.com. More Milton Friedman. Short video about incentives that exist in the market vs. incentives that exist in politics. It is our fault government has taken away so much individual freedom. We are the only ones who can restore this freedom, it can only happen from the bottom up.

More Evidence That Competition Breeds Competence, by Mark J. Perry At aei-ideas.org. Because Uber and Lyft are providing quality service to customers, Taxi companies are losing business. As a result cab drivers are taking a Hospitality Management program at South Seattle College. Consumers win in a free market, businesses win in a crony capitalist system.

DC’s Gun Restrictions Takes One Between The Eyes, by Ross Kaminsky, at spectator.org. Gun grabbers will be going crazy over this ruling.

The Worst Comment On Economics That You’ll Read All Day, by Chris Rossini, at economicpolicyjournal.com. Washington Post Columnist E. J. Dionne said, “..curtailing SNAP would be devastating…. food stamps also offer an immediate economic stimulus at moments when the economy is losing purchasing power“. Money that is taken {stolen} from me and given to another person doesn’t stimulate the economy, it merely transfers purchasing power. As Chris Rossini says, “Does theft now provide “economic stimulus”? What an interesting point of view. Remember that if you’re ever confronted by a mugger on a city street. His stealing of your money provides an “immediate economic stimulus”! He should be praised, and not cast as some sort of villain! You’re the villain should you seek to curtail him.”

What’s Wrong With Global Warming, by Greg Morin, at economicpolicyjournal.com. The “settled” science on global warming is becoming a bit unsettling for the true believers, because reality isn’t cooperating with what their scientific models have been predicting.

DHS Seizes Land Rover Over EPA Regulations, at foxnews.com. The lady in this video is in disbelief that something like this actually happened. She sums it up saying,  “I’m surprised that someone can come in and take your property“. Read article here. Can we all agree that this an example of Government being to big. They stole her vehicle, under the protective umbrella of EPA regulations. Things like this can’t happen to you; can they?

Cartoon Explaining Israeli-Arab Conflict, I saw this at tammybruce.com. This is a good, for a more in depth explanation read previous post, Define Winning and Losing In The Israeli-Arab Conflict.

Six Current Economic Myths And Realities, by Patrick Barron, at patrickbarron.blogspot.com. Austrian economist Patrick Barron lists six economic myths that the main stream media reports as truth.

Define Winning and Losing In The Israel-Arab Conflict

Posted August 1, 2014 by austrianaddict
Categories: Government and Politics, Miscellaneous

Tags: , , , , , , ,

File:OperationPillarOfDefenseMontage.png

Lets take an unemotional look at the conflict between Israel and Hamas. Hamas is using the Palestinian people to paint an emotional picture far different from the reality that exists. Hamas can’t defeat Israel by fighting them in Gaza, it can only hope to defeat them by winning the Propaganda war they wage in the minds and hearts of the people of the world. The cost Israel makes Hamas pay for their attacks, must be high enough to keep Hamas from wanting to try it again anytime soon. That is reality, perception from propaganda is not reality.

Here are two great articles about the conflict. They are,

Cease The Cease-Fires, by Thomas Sowell, and

Winning A Lose/Lose War, by Victor Davis Hanson.

Here are some excerpts from “Cease the Cease-Fires”.

“According to the New York Times, Secretary of State John Kerry is hoping for a cease-fire to “open the door to Israeli and Palestinian negotiations for a long-term solution.” President Obama has urged Israeli Prime Minister Benjamin Netanyahu to have an “immediate, unconditional humanitarian cease-fire” — again, with the idea of pursuing some long-lasting agreement.”

“The Middle East must lead the world in cease-fires. If cease-fires were the road to peace, the Middle East would easily be the most peaceful place on the planet.”

“Cease-fire” and “negotiations” are magic words to “the international community.” But just what do cease-fires actually accomplish? “In the short run, they save some lives. But in the long run they cost far more lives, by lowering the cost of aggression.”

“…when Hamas or some other terrorist group launches an attack on Israel, they know in advance that whatever Israel does in response will be limited by calls for a cease-fire, backed by political and economic pressures from the United States.”

“If you want to minimize civilian casualties, then minimize the dangers of war, by no longer coming to the rescue of those who start wars.”

“There is something grotesque about people living thousands of miles away, in safety and comfort, loftily second-guessing and trying to micro-manage what the Israelis are doing in a matter of life and death. Such self-indulgences are a danger, not simply to Israel, but to the whole Western world, for it betrays a lack of realism…”

“As for the ever-elusive “solution” to the Arab-Israeli conflicts in the Middle East, there is nothing faintly resembling a solution anywhere on the horizon. Nor is it hard to see why. Even if the Israelis were all saints — and sainthood is not common in any branch of the human race — the cold fact is that they are far more advanced than their neighbors, and groups that cannot tolerate even subordinate Christian minorities can hardly be expected to tolerate an independent, and more advanced, Jewish state that is a daily rebuke to their egos.”

Here are some excerpts from “Winning A Lose/Lose War”.

“Once again neighboring enemies are warring in diametrically opposite ways”.

“Hamas sees the death of its civilians as an advantage; Israel sees the death of its civilians as a disaster. Defensive missiles explode to save civilians in Israel; in Gaza, civilians are placed at risk of death to protect offensive missiles.”

“Hamas wins by losing lots of its people; Israel loses by losing a few of its own. Hamas digs tunnels in premodern fashion; Israel uses postmodern high technology to detect them. Hamas’s missiles usually prove ineffective; Israel’s bombs and missiles almost always hit their targets. Quiet Israeli officers lead from the front; loud Hamas leaders flee to the rear. Incompetency wins sympathy; expertise, disdain.”

“Westerners romanticize the Hamas cause; fellow Arabs of the Gulf do not. Westerners critical of Israel are still willing to visit Israel; sympathizers of Hamas do not wish to visit Gaza.”

“….Timidity explains much of the Europeans’ easy damnation of Israel. Putin escapes the disdain accorded to Netanyahu, because Netanyahu governs a small nation and is predictably reasonable; Putin governs a large one and is predictably unreasonable. Trashing Putin might involve some risk; trashing Netanyahu brings psychological relief.”

“If Israel blows up Hamas’s tunnels, dismantles its arsenals, destroys its missiles, devastates its military, and leaves Hamas weak and discredited, the world will quietly turn its attention away in a sort of grudging admiration of Israel’s success, with an unspoken conclusion that Hamas may have gotten what it asked for.”

“But if Israel panics, retreats from Gaza under a premature ceasefire with Hamas ascendant, and, as a victim, hunkers down under a rain of missiles, then the protests will only intensify and the world will shrug that Israel is suffering what it deserves. At least up to a point, opportunism, not morality, guides public opinion.”

“It is said that the 34-day Lebanon War of 2006 was a terrible defeat for Israel. Perhaps. But so far Hezbollah has not unleashed its huge arsenal of missiles, at a time when such coordination with Hamas might have kept all of Israel underground. Why?”

“…. Hezbollah quietly remembers the damage of 2006, the years of rebuilding, and the costs, both human and material, that it incurred by its so-called “victory” — and the subsequent lack of world sympathy for Hezbollah. The world cared little for postwar Hezbollah not because of its cause (which a sick global community often supported), but because of its image as a loser that foolishly squandered its capital for nothing. The same Germans who tuned Hitler out after Stalingrad had earlier egged him on after the fall of Paris. In an ill Europe of the 1940s, even the Holocaust did not lose Hitler public support; losing the war did.”

“In the supposedly lose/lose world of Middle Eastern warfare, Israel must ensure that Hamas nevertheless loses far more than Israel itself does, not because the world will publicly sympathize with the cause of the Jewish state, but because, for all its ideological chest-pounding, an amoral world still privately gravitates to the successful and distances itself from the failed. Only if Israel finishes its ongoing dismantling of Hamas will the current war end. In six months, long after MSNBC and CNN have gone on to their next psychodramatic stories, long after John Kerry has moved on to his next Nobel Prize quest, those in Gaza who now yell into cameras encouraging their leaders to kill the Jews will quietly agree not to try another such costly war with Israel — and that fact, and only that fact, will lead to a sort of peace, at least for a while.”

 

Must Reads For The Week 7/26/14

Posted July 26, 2014 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)

‘Guns Are Welcome”  At One Restaurant, Bucks A Trend, by Zach Noble, at theblaze.com. After seeing a story about a restaurant being robbed two days after posting a ‘No Weapons Allowed’ sign; Sharma Floyd posted a ‘Guns Are Welcome’ sign at her restaurant. The result was an increase in business.

Psych Patient Shoots Two At Hospital, Doctor Returns Fire And Stops Shooter, at philly.com. Here is an excerpt from the article, “It was not clear why Silverman, a doctor for nearly 25 years, was armed at the office. Bernice Ho, a spokeswoman for Mercy Fitzgerald, said Thursday it was against hospital policy for anyone other than security guards to carry weapons.”  Yeadon chief of Police Donald Molineux said Silverman, “without a doubt saved lives.”  Thank God Dr. Silverman disobeyed hospital policy and had a weapon. I bet it’s a 50/50 chance the Dr. will get in trouble for breaking the rule, because the anti gun crowd lacks any common sense.

White House ‘Quietly’ Exempts 4.5 Million People In 5 “Territories” From Obamacare, at zerohedge.com. American Samoa, Guam, Puerto Rico, Northern Marina Islands, and Virgin Islands were exempted from Obamacare because the cost of health care in these U.S. Territories was rising due to Obamacare. How can a State become a territory of the United States? It seems to be a much better deal.

To Make Elite Schools ‘Fair”, City Will Punish Poor Asians, at economicpolicyjournal.com. The admission process at New York’s specialized High Schools is being challenged by the NAACP in a civil-rights complaint against competitive admissions testing that has been around for 70 Years. The group that will be hurt most will be the growing  poor Asian-American immigrants whose kids do very well on the tests. When will these social engineers understand that people’s abilities can’t be made equal. You can’t produce a photo finish in a race by starting slower runners in front of faster runners, or by making faster runners wear a weighted vest. Can’t the social planners let each individual succeed or fail to whatever degree he chooses to define success or failure? Read the C.S. Lewis quote in my quote section.

The Administration Wants Economic Patriotism From Companies Dodging Taxes, at lasvegassun.com. Here is an excerpt from the article. “The President demanded ‘economic patriotism’ from U.S. companies who use legal means to avoid taxes and regulation through overseas mergers. “I don’t care if it’s legal”, Obama said, “It’s wrong”. The corporate tax rate in the U.S is one of the highest in the world. Of course these companies are going to try to legally pay as little tax as possible just like every other red blooded American does every April 15. The treasury is estimated to lose $17 billion over the next decade if the policy continues. That’s not even $2 billion a year, which is nothing compared to the Feds open market money laundering policy of printing 100’s of billions of dollars and purchasing government debt.

Man Chocked To Death by NYC Police For Selling Illegal Cigarettes, by Liz Klimas, at theblaze.com. and Young Girl Assaulted by Three Cops For Breaking Curfew, at libertypenblog.blogspot.com. The breakdown of the rule of law starts when our politicians and bureaucrats don’t have to comply with the law. As a result citizens are not as willing to comply with orders given by people in positions of authority who are lumped in with the bigger group of political and bureaucratic law breakers. Situations like these result in citizens having less trust in cops, and cops having less trust in citizens. You’ll see more and more of this if Government, laws, and regulations aren’t rolled back. On a side note, shouldn’t the President be in front of the cameras saying these cops “acted stupidly”, like he did when his friend, Harvard scholar Henry Louis Gates Jr, was arrested by police (read here)?

Three Kansas City Cops Stop To Play Pick Up Game, After Seeing Boys Playing Hoops In Street, by Jonathon M. Seidl, at theblaze.com. Since I just blasted cops, it’s only right that I post this article. I’d like to think most cops are probably like these guys. Where are the  Andy Griffiths.

My Letter To The Financial Times, London re: Eurozone Needs Quantitative Easing, by Partick Barron, at partickbarron.blogspot.com. Patrick Barron torpedoes a few myths about the benefits of Quantitative Easing in one short paragraph.

Bordering On Madness, by Thomas Sowell, at jewishworldreview.com. Thomas Sowell’s analysis of the border situation, immigration policy, and cultures. This is Dr. Sowell at his best.

General Patton’s Summer of 1944, by Victor Davis Hanson, at victorhanson.com. I’ve always been interested in WWII because my Uncle was in the 82nd Airborne. He fought in the D-Day invasion, Operation Market Garden, and the Battle of the Bulge. This article brought back some memories of my Uncle, and of the movie Patton which, came out when I was in High School.

 

 

 


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