AUSTRIAN ECONOMICS ADDICT

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

Elvira Nabiullina: Central Banker Of The Year, at economicpolicyjournal.com. Russian central bank chair Elvira Nabiulinna raised the interest rate from 10.5% to 17% in order to reign in inflation and also to stop the collapse of the ruble which was caused when the central bank stopped its previous multiple billion dollar intervention. Here is an excerpt from the article, “The Central Bank has yet to hint they would start a stimulus project, or money printing, to avoid recession…..Contrast this coolness with the panic in the eyes of Fed chairman Ben Bernanke and Treasury Secretary Hank Paulson during the 2008 financial crisis, when they caused the US government to intervene one hundred different ways and bail out the banksters.”

Can we trade Fed Chairman Janet Yellen, a couple billion of electronically printed counterfeit U.S. dollars, and a player to be named later for Elvira Nabiullina.

Money For Nothing: Volcker, from Liberty Street Films. Below is a video clip about the Federal Reserve Bank from the movie “Money For Nothing”. The clip talks about Fed Chairman Paul Volker raising the interest rates to above 20% in order to kill inflation and cure the easy money sickness that plagued the U.S. economy during the 70’s and early 80’s. This is what Elvira Nabiulina is attempting to do in Russia by raising interest rates to 17%. The U.S economy will have to eventually go through the liquidation of economic activity artificially brought into existence because the Fed electronically printed trillions of counterfeit dollars, and also their zero interest rate policy. Sooner or later the correction has to come.

Where The ‘Great Recovery’ Is 25% Worse Than The ‘Great Recession‘, at zerohedge.com. We talked about companies using easy money to buy back their stock in order to raise its price. Here are some interesting charts about how Caterpillar has been doing during this great recovery.

Six Ways The Government Criminalizes Economic Activity, by Diana Furchtgott Roth, at marketwatch.com. On the whim of a central planner you could become a criminal.

Dead Weight Loss From The New California Gas Tax, by David Henderson, at econlog.econlib.org. California’s cap-and-trade regulations will cost consumers 10 cents more per gallon. I don’t understand this excerpt from the article. “When you buy one gallon of California gasoline, the seller will have to cover about 18 pounds of emissions. At the current price of allowances–about $12 per metric ton–that works out to about 10 cents per gallon of gas…” My question is; if a gallon of gas weighs 6.25 lbs, how can it produce 18 lbs of emissions? I have to ask my brother, who is a chemist, ow this works.

Your All Electric Car May Not Be So Green, by Seth Borenstein, at ap.org. Apparently coal powered cars pollute more than gasoline powered cars.

Socialist On The Line Caption Contest, at zerohedge.com. Their caption is, If Cuba is good socialism, and Venezuela is bad socialism, what does that make America. My caption: George Washington is thinking, “there’s a lot of credentialed ignorance in this room.”

Senator Sanders Blamed Speculators For The Rise In Oil Prices From Jan-June; Do They Now Get The Credit For The Drop In Oil Prices Since July? by Mark J. Perry, at carpe diem blog. Supply and demand are that driving factors in setting the price of oil at any given time, in spite of all the Government intervention into the oil business.  Speculators helped bring supply and demand into line quicker than it would have happened if the speculators had stayed out.

Study This For A While, at economicpolicyjournal.com. The Government is making a killing on student loans by making college students debt serfs.

3D Printed Prosthetic Legs Allow Derby The Dog To Run For The First Time, by Catherine Winter-Hebert, at inhabitat.com. Watch the short video.

Federal Budget Contains Provision Preventing Attempts To Ban Lead Ammunition, by John Lott, at johnrlott.blogspot.com. At least something good was in the budget.

As Michelle Nags America…Which Professions Have The Biggest Waist Lines, by Chris Rossini, at targetliberty.com. Looks like our first responders are spending too much time at Dunkin Donuts.