Must Reads For The Week 9/14/13

Posted September 14, 2013 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)

3D Printing Is The Future, at economicpolicyjournal.com. The creative destruction of the market is on full display.

Global Cooling Arctic Ice Caps Grows By 60% In A Year, by David Rose, at dailymail.co.uk. I found this at Carpe Diem Blog. Once again the man made global warming believers are wrong.

EU Exploring Scheme To Install Speed-Limiting Devices In Cars, by Alex Newman, at thenewamerican.com. I saw this on libertypenblog.blogspot.com. I know, “This can’t happen here”, or can it? Watch the video in the link below before you answer.

Mandatory Black Boxes, VIDEO: Fox News, at libertypenblog.blogspot.com. It most certainly can happen here.

Help Kick Start World War Three, at zerohedge.com. Send in a donation to support the funding of world war III.

Video: Karl Marx Endorsed By Obama As Next President, by Mark Dice. Is this video funny or depressing?

Here’s Why You Think Price Inflation Is Much Higher Than What The Government Says, at economicpolicyjournal.com. When the Government doesn’t count energy and food in their Consumer Price Index, of course inflation isn’t bad.

Some Humor To Take The Edge Off

Posted September 11, 2013 by austrianaddict
Categories: Miscellaneous

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I saw these  at theburningplatform.com.

Obamacare is the means to the single payer end. It must be defunded, because once it’s implementation starts in earnest, it will be impossible to get rid of. What was the last Government program that was allowed to die on the vine? Politicians won’t even revamp the post office, even though it is loosing billions a year, so they won’t have the stones to repeal Obamacare.

Everything that we are witnessing concerning Syria, are means to the end of the President trying to get out of the political corner he painted himself into.

There IS a “time sensitivity” to a strike against Syria. Delay gives them time to hide what they don’t want destroyed, and delayed punishment’s effect is degraded with each passing day.

It’s not just about passing the buck, it’s about having someone out on the limb with him.

On the one hand we are threatening to use force against the Assad Regime who, as the President said, is no threat to the U.S. And on the other hand, using this force would be helping Al-Qaida, the organization that was responsible for 9/11 and is still an enemy today.

137007 600 Al Qaida in Syria cartoons

Must Reads For The Week 9/7/13

Posted September 7, 2013 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)

Watched Cops Are Polite Cops, by Ronald Bailey, at reason.com. Knowing you are being watched usually constrains the devil in us.

The Three Types Of Austerity, by Frank Hollenbeck, at mises.org. Economic growth can only come from the private sector. The public sector, Government, consumes what the private sector produces.

Matt Drudge Breaks With Republicans, Joins Libertarians, at economicpolicyjournal.com. Drudge says that “there is no real difference between Democrats and Republicans, the only two real political parties are Authoritarians and Libertarians.”  This is the reality on the ground, but many people are still caught up in the D vs. R magic show.

California Family Raisin Farmers Protest Against Government Confiscation Of His Crops, by Mark J. Perry, at aei-ideas.org. The Raisin Administrative Committee fined raisin farmer Laura Horne $650,000 for not handing over any of their grapes to the Government over the last 10 years. Talk about being a serf on a feudal farm.

10- Year Treasury Yield Hits 3%, at economicpolicyjournal.com. Interest rates are creeping up. The Fed is in a heads you win tails we lose situation.

Poland Confiscates Half Of Private Pension Funds To Cut Sovereign Debt Load, at economicpolicyjournal.com. This can’t happen here can it?

Labor Participation Rate Plunges To 1978 Levels, at zerohedge.com.  Fewer people working means less is produced. We are consuming more than we are producing, which leads to a declining standard of living.

Poll: Majority Of Americans Approve Of Sending Congress To Syria, at theonion.com. I agree when the article says, “we have to do this sooner rather than later, this war isn’t going to last forever.

EPA Deploys SWATT To Check For Clean Water Violation, at alaskadispatch.com. This raid may have been a case of overkill, literally. Escalating amounts of force by police, may inevitably bring about responding in kind by citizens.

A Keynesians Dream, Cruise Missile Strikes In Syria.

Posted September 6, 2013 by austrianaddict
Categories: Econ. 201

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A Raytheon Tomahawk Block IV cruise missile du...

A Raytheon Tomahawk Block IV cruise missile during a U.S. Navy flight test at NAWS China Lake, California (Nov. 10, 2002) (Photo credit: Wikipedia)

THE KEYNESIAN MAGIC OF GOVERNMENT SPENDING

If we believe Keynesian economics, cruise missile strikes will help our economy, and the Syrian economy. First let’s look at how it is supposed to help our economy. By launching a couple hundred cruise missiles at roughly $1 million a pop, the Government will have to spend over $200 million to replace the missiles that are consumed in the attacks. Cruise missile maker Raytheon will be the beneficiary of the spending as they will get paid to produce at least 200 cruise missiles. Raytheon’s employees, stock holders, and the companies who supply parts to Raytheon, for these missiles, will have more money to spend, and as the money circulates through the economy it will stimulate even more consumption. As we all know consumption drives the economy, and if we can stimulate consumption through government spending there will be never-ending economic growth.

The same basic principle is in play as we look at how the Syrian economy will be helped by our cruise missile strikes. What ever our cruise missiles destroy, has to be replaced, whether it is buildings, vehicles, military equipment, and yes even the chemical weapons. Part of the collateral damage will be people, but if you look at it unemotionally, employment will improve because unemployed people will have to take the place of the employed who died. Employment will also improve as people will have to be employed to rebuild what was destroyed by the cruise missile strikes. Since Government only spends on important projects, for the common good, and the private sector spending is for frivolous things that individuals desire, our targeting of Government property will have an optimal stimulative effect for the Syrian economy.

We are consuming missiles when we launch them, and as we know consumption grows the economy. We could be selfish and create a stimulative effect for our economy only, if we launched these missiles into the ocean or a deserted place on the globe, but we are creating a secondary stimulative effect by dropping these missiles on real things. Fortunately for the Syrians we are targeting them, we could have chosen numerous other countries to stimulate with our cruise missile strikes. Read the rest of this post »

Thomas Sowell Tells Us What Syria Is All About

Posted September 5, 2013 by austrianaddict
Categories: Government and Politics

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As only he can, Thomas Sowell sifts out the B.S. and finds the golden nugget regarding Syria. Hard to believe it’s political. The article titled Serious About Syria?, is just another gem that we come to expect every time he puts a pen to paper. It seems that our President is a grand master checkers player, unfortunately he is playing foreign policy chess. Here are some excerpts from the article. Read the rest of this post »

Thomas Sowell – Obama’s Failed Economic Policies.

Posted September 3, 2013 by austrianaddict
Categories: Econ. 201

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Fascism Anyone? The 14 Defining Characteristic...

Fascism Anyone? The 14 Defining Characteristics of Fascism by Dr. Lawrence Britt (Photo credit: watchingfrogsboil)

This short video below, from libertypen.blogspot.com, is a 2010 interview of Thomas Sowell  talking about the Presidents economic policies and their consequences. The most interesting thing from the video is when he is asked, “Let’s talk about President Obama, do you think he is a socialist?“, He responds, “Not technically I suppose, because socialist usually means Government ownership of the means of production. The pattern he is following is much more like that of the fascists, where the Government leaves the means of production in private hands and the politicians tell them what to do. And that’s much more politically viable because after the Government forces Read the rest of this post »

Observations From The Margin

Posted September 2, 2013 by austrianaddict
Categories: Observations From The Margin

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Observation Tower

Observation  (Photo credit: mooglet)

– Why is the administration so worried about civilians being killed in Syria, when it wasn’t worried about the civilians being killed in Afghanistan, Pakistan, and Yemen by our drone strikes? Would the President have been ok with Assad if he had killed the same amount of civilians with drone strikes?

– The President is going to congress to seek authorization for the use of force in Syria for three reasons that I can see. 1) If congress doesn’t give him authorization, he can use it as a reason not to go in. It would essentially be his get out of jail free card from the “crossing the red line” jail of his own making. 2) If congress passes a resolution of force, “he” is no longer out on a limb by himself, if “we” attack and it doesn’t workout. 3) The length of time it will take to get this authorization (congress is back in session Sept. 9th), will put this issue so far in the rear view mirror, it will be “old news”. All of these give the president plenty of political cover, and that’s the most important thing to a politician.

– Thomas Sowell uses a term, “thinking beyond stage one”, Frederic Bastiat uses, “that which is seen, and that which is not seen”, when talking about the unintended consequences of a particular action. When it comes foreign policy, I don’t think the administration sees the long-term consequences of their stage one thinking.

– Why would you put off the implementation of something as wonderful as Obamacare, unless its implementation wouldn’t be so wonderful for you politically.

– Do the fast food workers who went on strike for higher wages from their employers realize they are angry at the wrong group of people. They shouldn’t be angry at their employers, they should be angry at consumers for not being willing to pay a higher price. The consumer ultimately pays the worker’s salary, and has no obligation to consume the same amount at the higher price. Remember when the cost of anything goes up, there will be less of that activity, and labor is no exception.

– I think the President should appoint a member of The Lavender Hill Mob, as the next Federal Reserve Chairman.

– When people get upset that congress is taking another recess, or the President is taking another vacation or playing another round of golf, instead of working; I always tell them we would be better off, and it would be less expensive, if we paid them double and sent them on a paid vacation for the duration of their terms. They couldn’t intervene into our lives, and we would be just fine.

– Minority children are usually helped the most by school voucher programs. The Justice Department is trying to block the Louisiana school voucher program, on the grounds that some of these students are in districts that remain under desegregation orders, and these vouchers would impede the desegregation process. Real children’s futures sacrificed to an imaginary God.

– I don’t understand all the hand wringing about concussions in football. I figured out concussions were probably a bad thing when I was playing 8th grade football. I tried to tackle, or I couldn’t get out of the way of, a guy who out weighed me by 50 pounds. I saw the flash of light when we collided, or when he ran over me, and I knew that wasn’t good. Every one knows the risks of playing football, and each person weighs these risks against the benefits and either keeps playing or quits playing.

Must Reads For The Week 8/31/13

Posted August 31, 2013 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)

As Long As You Don’t Eat, Price Inflation Is Under Control, at economicpolicyjournal.com. Have you noticed that certain items, like raisins and tuna, have less in the box or can, for the same or higher price, than six months ago. Is this a way to hide inflation?

Airbnb And Its Enemies: Who’s Afraid Of A $10 a Night Sofa, by Jim Epstein, at reason.com. The free market finds a less costly way to provide a service, but the incumbents in the hotel industry try to get Government to stop this voluntary activity. When businesses lobby Government for protection from competition, it proves Government has exceeded its explicit constitutional powers.

Texas Oil Output Has Almost Doubled In The Last Two Years, by Mark J. Perry, at aei-ideas.org. The decisions of individuals, which is the market, is an unstoppable force. These economic forces are creating an oil boom. These same forces are working to correct Obamacare, which is why the President has stopped the implementation of some of the provisions.

The Huffington Post On Ludwig von Mises, at economicpolicyjournal.com. The fact that the Huffington post wrote an article about the great Austrian economist, Ludwig von Mises, gives us hope. This wouldn’t have happened just five years ago.

Is The Secular Bear About To Growl? at zerohedge.com. These are interesting charts about historical stock market run ups and declines. History isn’t a predictor of the future, it can only show past trends that may be similar to today. These trends are subject to change as the variables may not act as they did in the past.

Bitcoin Group To Meet With 7 Government Agencies, at economicpolicyjournal.com. The Government doesn’t like the free market, especially in money creation. Governments know if they lose their monopoly on money creation, their power will erode substantially because they won’t be able to fund their expansion.

NSA’s Surveillance  Programs Are The “Most Serious Attack On Free Speech We Have Ever Seen”, by Josh Levy, at informationclearinghouse.info. Government action creates incentives and constraints that individuals consider when they act. People will begin to censor themselves when they feel their speech is being monitored.

When It Comes To Obamacare, Ignorance Is Bliss For Young Americans, by Scott W. Atlas, at forbes.com. The administration is propagandizing young people into signing up for the health care exchanges, for one reason only. They want young people to pay more in insurance than they receive in benefits, essentially funding the Obamacare boondoggle. You got what you voted for.

A Truly Great Phony, by Thomas Sowell, at jewishworldreview.com. An article by Thomas Sowell, enough said.

Re-education At George Mason, by Walter E. Williams, at jewishworldreview.com. An article by Walter Williams, enough said.

“Money For Nothing”, by Liberty Street Films. A Documentary Film About The Fed.

Posted August 27, 2013 by austrianaddict
Categories: Econ. 201

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“Money For Nothing” is a documentary film about the Federal Reserve made by Liberty Films Inc. If it wasn’t for the Mises Institute, and Ron  Paul  hammering the Fed over many years, a film like this would have never been considered, let alone made. I don’t know how much truth, or what angle the documentary will take, but any light that can be shined on the Fed, making people curious about understand it, is a plus for liberty. Here is a trailer for the movie.

Here are some excerpts from the trailer.

“I don’t think that any of us that ever worked at the Fed take any comfort from the fact that somebody screwed up, but its important that we recognize there were some big mistakes made.” – Peter Fisher, Executive V.P. Federal Reserve Bank of N.Y. (94-01)

“Printing money doesn’t produce goods and services, it doesn’t hire people….It may seem like the right short-term medicine, but can the cure be worse than the disease in some cases.” – Charles Plosser, President Federal Reserve Bank of Philadelphia.

The United States has consumed more than it has produced for at least a decade. What country, ask yourself, in history can do that indefinitely forever.” – Tom Hoenig, President Federal Reserve Bank of Kansas City.

When asked in an interview, “You have what degree of confidence in your ability to control this“, Ben Bernanke said, “one hundred percent”.

This comment by the Fed chairman demonstrates what F. A. Hayek called, the “fatal conceit”, which is the idea that “man is able to shape the world around him according to his wishes”. A man, or a group of men, don’t possess enough knowledge to plan an ever-changing world.

As John Maynard Keynes wrote, “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.” ,read more in Keynes Was Correct In 1919!

Here is a short clip from the movie.

It is supposed to open in limited markets in September, read more at,  moneyfornothingthefilm.org.

Related ArticleFederal Reserve Policy Makers Have An Incestuous Intellectual Relationship With Each Other, at austrianaddict.com

Related ArticleCounterfeiting by The Federal Reserve, Although Legal, Still Results In Theft, at austrianaddict.com

Related ArticleThomas Sowell’s Take On The Federal Reserve, at austrianaddict.com

Related ArticleReal Savings vs. Counterfeit Savings, at austrianaddict.com

Related ArticleA Tornado vs. The Fed, Which Is More Destructive, at austrianaddict.com

Related ArticleWe Can’t Recreate The Garden Of Eden, at austirnaddict.com.

Related Article, The Role Of Interest Rates In A Market Economy, at austrianaddict.com

Must Reads For The Week 8/24/13

Posted August 24, 2013 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)

Thomas Sowell On Immigration, short video, at libertypenblog.blogspot.com. It’s probably as simple as enforcing the laws that are already on the books, instead of passing a new law that won’t be enforced.

Study Finds Craigslist Took $5 Billion From Newspapers, by Jeff Bercovici, at forbs.com. I saw this at mungowitzend.blogspot.com, No one took anything from anybody. The consumer has decided that Craigslist provides a better advertising  bang for the buck than newspaper advertisement. These two professors don’t understand that loses are just as important as profits in allocating scarce resources to their most productive uses. Creative destruction is a good thing for the economy as a whole.

Advanced Crony Payment: Hillary To Speak To Carlyle Group Investors, at economicpolicyjournal.com. The Carlyle Group is not at fault. The fact that Government has exceeded its constitutional power, and intervened in the market, forces businesses to essentially, pay a bribe, either for protection or favors from the Government.

White House Picks Creepy Panel To Review NSA Programs. at economicpolicyjournal.com. O.J. will find Nicole’s killer before this panel finds the NSA doing something illegal.

School Has Become Too Hostile To Boys, by Christina Hoff Summers, at ideas.time.com. Christina Hoff Summers is the go to gal when it comes to this subject. She Wrote the book, The War Against Boys: How Misguided Policies Are Harming Our Young Men. When you start your  analysis from the premise that boys and girls are different, your chances of getting it right go up exponentially.

Progressives And Blacks, by Walter E. Williams, at jewishworldreview.com. Progressives and liberals should be considered covert racists, because they seem to think minorities can’t achieve to an equal level as these progressives have achieved, unless they are helped by these same progressives.