Posted tagged ‘Silicon Valley Socialism’

Must Reads For The Week 10/7/18

October 7, 2018

 

ECONOMICS

Fed Chair Powell Hints He May Soon Crash The Market, at zerohedge.com. The Fed created the housing bubble with its printed money and below market interest rates. When their bubble crashed, their cure was the same medicine that caused the problem in the first place (pump more money into the system and zero percent interest rates).  The cure for a crash is to allow interest rates to be set by the market and quit printing money. Let the correction (recession) take place. Their policies didn’t allow the liquidation of the bubble activities to take place. Now they are attempting to slowly get rid of the accumulated bubble activities through incremental interest rate increases. They are walking a high wire and their safety net is to blame Trump for any crash. Read here: The Fed’s QE Unwind Reaches $285 Billion, at zerohedge.com.

US Gross National Debt Soars $1.27 Trillion In Fiscal 2018 hits $21.5 Trillion, at zerohedge.com. It doesn’t matter if the D’s or the R’s have control of the purse strings. The debt keeps going up. But the Federal Government couldn’t accumulate this amount of debt unless The Federal Reserve printed money to purchase US bonds. How can this possibly be paid back?

Mall Vacancies Hit 7 Year High As Rents Plunge, at zerohedge.com. Using printed money and low-interest rates caused too many Malls to be built. This is an example of a bubble activity. The laws of economics are trying to liquidate the malls which are not profitable. Will the Fed allow it to happen?

Austrians vs. Market Monetarists On The Housing Bubble, by Robert Murphy, at mises.org. Great article explaining how monetary pumping through artificially low-interest rates creates unsustainable bubbles that ultimately crash.

Silicon Valley Socialism, by Peter Klein, at mises.org.  Excerpt from the article: “Libertarians oppose regulation, but also oppose censorship and politically correct culling of opinion. Silicon Valley used to be a hotbed of libertarian thought, a place where innovation mattered more than government. Today, companies like Twitter and Facebook serve as de facto editors, banning users like Alex Jones for “wrong-think.” Google dominates search, but may steer search results. And Amazon serves nefarious clients like the NSA with its cloud infrastructure. And all of them employ plenty of lobbyists to avoid the kind of government anti-trust suit Microsoft faced nearly 20 years ago.

Surge In New York City Taxi Driver Suicides Has The City Talking, at zerohedge.com. Taxi driver suicides are up because the drivers purchase price of their taxi medallions has collapsed. Uber and Lyft are getting blamed for driving down the value of these medallions. But the reason the price of the medallions were so high in the first place is because NYC government put a limit on the number of medallions. Limiting the supply drove up the price of these medallions. The Government created a medallion bubble. If the free market would have been allowed to coordinate the supply of cabs with the demand of the riders there would be no suicide problem for taxi drivers. There would be no such thing as taxi medallions in the first place. Now Government wants to step in and help. How do you think that will work out?

Economics Everywhere, Politics Nowhere: Switzerland’s Six Pointers Towards Hope For Western Civilization, by Hunter Hastings, at centerforindividualism.org. Maybe we should look at Switzerland’s success as an example of what individual freedom, decentralized government, and free markets produce. Instead of looking at countries like Venezuela to see what socialism produces.

LEGAL &  POLITICAL STUFF

Democratic Staffer For Shelia Jackson Lee Arrested In GOP Doxing, zerohedge.com. An intern for Rep. Shelia Jackson Lee was arrested for releasing private and identifying information, including home addresses and phone numbers, of several Republican Senators on Wikipedia. He wanted them to be harassed for supporting Justice Kavanaugh appointment.

Blasey Ford’s FBI “Polygraph” Buddy Pressured Women From Mystery Groping Party To Change Story, at zerohedge.com. Was she trying to suborn perjury to get someone to corroborate Blasey Fords story?

Hordes Of Bussed-In Protesters Prepare For DC Disruption Ahead Of Kavanaugh Confirmation, at zerohedge.com. They don’t like being called a “rent a mob’. But if the shoe fits.

Make Them Scared’ Website Posts Uncorroborated Sexual Assault Claims Against Male Students, by Daniel Payne, at thecollegefix.com. People will do anything to advance their vision.

Writer From Colbert Show Reveals Left Wing Truth, at theburningplatform.com. Writer from Colbert show tweets: “Whatever happens, I’m just glad we ruined Brett Kavanaugh’s life.”

Creating A Suspect Society: The Scary Side Of The Technological Police State, by John Whitehead, at rutherford.org. The government has access to massive amounts of information on it’s citizens. We should all be concerned about this. Government bureaucrats can and will use this against you if it is necessary to advance their vision.

How A 1965 Supreme Court Ruling Explains The Partisan Battle Over Kavanaugh’s Confirmation, by Ira Stoll, at reason.com. Excerpt from the article: “One way to look at the situation of Brett Kavanaugh, the Supreme Court nominee awaiting a Senate vote, is as only the latest episode in the long story of Griswold v. Connecticut.”

HUMOR

Democrats Shudder At Idea Of Having To Legislate Through Congress Should Supreme Court Lean Right, at babylonbee.com.

Kamala Harris; “We Would Apply The Same Fair Standards To Any SCOTUS Nominee Whose Life We Were Trying To Destroy“, at babylonbee.com.

Senate On Lockdown After Receiving Credible Threat From Known Killers, at babylonbee.com.

 

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Political Cartoons by Michael Ramirez

Political Cartoons by Michael Ramirez

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