Posted tagged ‘Jim Grant’

Must Read “Leftovers”

September 1, 2015

Why The Federal Government Fails, by Chris Edwards, at cato.org. This short article gives five reasons why Government fails. But like a lot of things, judging success and failure depends on the perspective of the person doing the judging. President Obama thought Obamacare was a success for the simple fact that it got passed. I think Obamacare was a failure because the cost of my insurance has risen 40%. Of course I am just an evil person looking after my own self-interest, and the President is just a humble public servant who would never consider his self-interest when making decrees from on high.

Obama: Earning Contempt, at Home and Abroad, by Victor Davis Hanson, at victorhanson.com. If I misread human nature and cultural differences not many people are affected and the clean up has a low-cost. But a misread at the national level affects millions and the clean up has a high cost if it can be cleaned up at all. Could the recipients of Obama’s outreach and deference see this as weakness and worthy of contempt?  “…is naive appeasement more dangerous than wise deterrence, or …. does keeping quiet and carrying a large stick trump sounding off while wielding a toothpick.” Does appeasing a bully or a child, who is a brat, work? It depends on how you define work.

Jim Grant: The Fed Has Turned The Stock Market Into A Hall Of Mirriors, at reasontv.

Sorry Mr. Trump, Canadian Healthcare Is Not Working, at fraserinstitute.org. Excerpt from the article, “Canada suffers from a high-cost healthcare system that delivers only modest performance across most measures of health care. Put simply, Canada’s model of health care delivery and financing is not something to be emulated but rather avoided.”

Venezuela Is Adding More Zeroes To Its Currency To Deal With Hyperinflation, at bloomberg.com. Increasing the money supply is the definition of inflation. Today we think that rising prices is inflation. Rising prices can be caused by many things one of which is increasing {inflating} the money supply {inflation}. The cure for inflation {increasing the money supply} is not increasing the money supply.

 

Must Reads For The Week 8/1/15

July 31, 2015
The pen is mightier than the sword...

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

Happy 103rd Birthday Milton Friedman, by Mark J. Perry, at carpediemblog. Yesterday was Milton Friedman’s birthday. Milton Friedman had a talent for explaining complex economic concepts in a way that regular people like me were able to understand. This post by Mark J. Perry has some great quotes and a link to some great videos. Here is a video of Milton Friedman at his best as he takes on leftist Phil Donahue.

Here is the full episode with Friedman on the Donahue show. This is a great lesson on how to talk to a leftist.

Same Attorney In Charge Of Retrieving Lois Lerner’s IRS E-Mails Now In Charge Of Retrieving State Department Benghazi E-Mails!, at investmentwatchblog.com. A cleaner is a person who gets rid of incriminating evidence at the scene of a crime. Former IRS cleaner Kate Duval, is now going to the State Department to apply her craft to the Benghazi e-mails. Read a previous post titled, Hillary and Benghazi: Call In The Cleaners.

Former Obamacare Chief To Lead Top Insurance Lobby, by Paige Winfield Cunningham, at washingtonexaminer.com. The incestuous relationship between government bureaucrats and crony capitalists is here for all to see. Here is a quote, “There is no better individual than Marilyn to lead our industry through the increasingly complex health care transformation that is underway,” So let’s see if I understand this. A bureaucrat makes the health care system more complex for businesses, and then gets hired to help businesses with the complexity of the system. Who says government doesn’t create jobs?

Shocker: Louisiana Shooter Was On Psychotropic Drugs And Was Denied A Gun Permit, at theburningplatform.com.   If psychotropic drugs increase the risk of suicide. It doesn’t seem like a big jump to say that they increase the risk of homicide.

Total Collapse: Greece Reverts To Barter Economy For First Time Since Nazi Occupation, at zerohedge.com. Greece is moving towards barter because citizens can’t get to their money. When you move toward barter you are moving toward a lower standard of living, because transaction costs are higher.

Meanwhile In Venezuela…. The Socialist Paradise Has Arrived, at zerohede.com. Like F. A. Hayek said: The centrally planned socialist road leads to serfdom and poverty.

Jim Grant: Financial Prices Should Be Discovered, Not Administered, at zerohedge.com. Free market prices convey information for how scarce resources can be used in their most efficient way. Artificially set prices convey false information channeling scarce resources to less efficient uses.

Feds Get The Power To Seize Medical Records On ‘Fishing Expeditions’ With No Subpoena From A Judge, by Mark Fitzgibbons, at americanthinker.com. Another example of the violation of citizens fourth amendment rights to be secure in their persons, houses, papers, and effects against unreasonable searches and seizures without a warrant.

New Male Privilege Tax, at economicpolicyjournal.com. Watch this short video of Mark Dice getting people to sign a petition to pass a “Male Privilege Tax”. Can we survive this kind of ignorance?

How Student Loans Create Demand For Useless Degrees, by Josh Grossman, at mises.org. Student loans have create a couple of things. 1) Debt serfs who will be making payments for years. 2) Young people with meaningless degrees. 3) Rising college prices. Student loans have created a bubble in college education.

 

 

 

The Fed’s Policies Are Counterproductive.

February 4, 2013

Host Lauren Lyster interviews Jim Grant on The Daily Ticker in this video from economicpolicyjurnal.com.

Here is a quote from the article, “…the Fed intends to buy 85 billion, with a B, in securities every month. What you might ask is where does it get that money. It creates it, it didn’t exist before the Fed materialized it through the very humble action of a keyboard and a computer, that’s the way it does it. But notice that this money is coming into the system without any commensurate increase in production. This is money in search of mischief, and it is likely to find it. The Feds actions are counterproductive.”

If the Feds injecting 85 billion counterfeit dollars a month into the economy (QE3,4), since September, is considered counter productive, how much more counter productive was QE1 and QE2’s injection of 2.3 trillion total dollars since 2008. An even better question is (more…)