Must Reads For The Week 2/15/14
Suicide Bomb Instructor Accidentally Blows Up His Class, at economicpolicyjournal.com. I wonder if Iraq’s version of OSHA will fine the terrorist training camp for unsafe working conditions?
More Evidence Of Employers Fighting Back Against The Possibility Of Higher Minimum Wages, at economicpolicyjournal.com. Do central planners ever consider the possibility that employers will react differently to these interventions than the planners thought they would?
WaPo Columnist: The Austrians Are Winning, by economicpolicyjournal.com. I’ll bet the WaPo columnist, E.J. Dionne, has never read anything by Hayek, Mises, or Rothbard. Mr. Dionne I have a suggestion, start with Economics in One Lesson by Henry Hazlitt. Baby steps, baby steps.
Europe Considers Wholesale Savings Confiscation, Enforced Redistribution, at zerohedge.com. This can’t happen here, can it? The EU is talking about using the savings of the people of Europe to fund long-term investments in order to boost the economy. I thought all that electronically printed counterfeit money was supposed to boost the economy.
Retail Sales Slide Across The Board, Post Biggest Miss Since June 2012, at zerohedge.com. This is a symptom of not having enough people producing. The more our Government tries to use the spending of electronically printed counterfeit money to stimulate the economy the less will be produced. Spending counterfeit money is theft. It is consuming what has been produced, without any corresponding production to back up the counterfeit money. It is the consumption of wealth not the production of wealth.
Initial Jobless Claims Miss; Back Above 8-Month Average, at zerohedge.com. Government interventions, including the Fed electronically printing counterfeit money and keeping interest rates artificially low, lead to fewer people producing. This is just another symptom of the real problem, which is , say it with me, Government intervention into the free market. If we cure Government intervention, these symptoms will go away.
Video: John Stossel – In Praise Of Fossil Fuels, at libertypenblog.blogspot.com. Carbon based fuels are the least expensive way to power the world economy. Subsidizing and mandating “green” energies isn’t the answer to lower cost energy. The market will reveal a lower cost form of energy if or when one exists. The Government has chosen Green energy and the market has rejected it. Think of all the wasted resources, including human capital, that could have been used to make carbon based fuels more abundant and less expensive. When it comes to green energy our Government is literally Don Quixote tilting at wind mills.
The Mafia State Of Mind, by Charles Hugh Smith, at oftwominds.com. I like reading CHS’s articles because they make me think.
Tags: Austrians Are Winning, Charles Hugh Smith, Electronically Printing Counterfeit Money, EU May Confiscate Savings, Fossil Fuels Rule The Day, Jobless Claims Up, Minimum Wage Laws, Retail Sales SlideYou can comment below, or link to this permanent URL from your own site.