I commented on my favorite federal circuit justice’s most recent blog entry. The full text of my comment, approval pending: I do not believe that a loan to Lehman brothers would have prevented its failure or helped to stave off the current financial crisis. Expanding the Federal Reserve Bank’s authority so that it needed no [...]
This article clearly and concisely explains how the proposed Obama public insurance option will drive up costs and ultimately nationalize the health insurance industry. As I look at our government’s actions, I’m less and less inclined to see mere folly, and more and more inclined to see a deliberate power grab and a weakening of [...]
Hypothesis #1: Making Firecrackers is Economically Unproductive Firecrackers are mere entertainment, lit once and then its usefulness is extinguished forever. Money spent producing a firecracker is therefor ultimately wasted. The only economically “productive” use of money is on capital investments: money spent on things which in turn produce more money (a computer, for example, because [...]
Go to War There is a persistent myth that war is good for the economy; this makes no sense. War can be made good for an individual economy if it can pay for itself (the plan for Iraq before oil sabotage), however, the net result of war for all involved is always tremendous waste. We [...]
Instant and effective communication across all borders will be the spur which drives the world to smaller, more effective units than the dying superstructures of the 20th century, whether political or economic. The new superstructures’ role will be organizational, supplying unity of direction for the natural contributions of individual people. For example, the newspaper is [...]
Alex Jones was right when he described the two main political parties in the USA as “two management teams bidding for control of the CEO job of Slavery Inc.” I follow elections, not because I believe the results matter, but to see see what messages the manipulators think people will respond to, and which messages [...]
Greenspan wrote a letter to the Wall Street Journal. It’s a long for what it is (propaganda) and is written in an evasive technical style. Moreover, the whole thing is one big narrative fallacy. In it he claims that “between 1971 and 2002, the fed-funds rate [the interest rate at which banks lend money to [...]