Jul 08
Ludwig Von Mises was one of the most far-thinking and insightful economic thinkers in history. Mises studied the economy of Russia when communism was riding high; and Mises concluded it was only a matter of time before its Soviet economy melted down. Mises correctly calculated that below-natural-interest-rate lending by government central banks created unhealthy business …
Jul 05
Socialism is a curse we should wish only on our enemies. Any society that embraces it will become sick and weak. You know you are a prisoner—or a slave—when your prison administrators can reach out and rob your savings account to pay for their lavish lifestyles. It appears that backroom deals being negotiated by bankrupt …
Jul 04
Today’s federal and state government employees are often lavished with luxurious pensions and salaries. In many counties, the largest and most expensive mansions are owned not by business leaders but by government employees. New York City firefighters are greatly overpaid. And when they retire, a very high percentage (80 percent or more) declare they are …
Jul 01
The financial world has been reeling from a series of worldwide financial crashes. This week, high-taxing, high-regulating Greece became the world’s first “first-world” country to default on an IMF loan. On Sunday, the governor of Puerto Rico announced that his Island State’s debts are unpayable. On Monday, the U.S. Dow plummeted 350 points. Also this …
Jul 01
Have you ever wondered about the future of American Social Security? What will happen when liabilities are larger than the credit of the country? A story today on Yahoo News revealed that retired Greeks who traditionally draw their government pensions in cash from their local banks are now finding that the banks only allow small …
Jun 29
In a previous post, we alerted readers to a recent report that worldwide central banking has kept interest rates so artificially low for so long that “experts” now doubt whether central bankers can “fix” any future financial crisis. The Telegraph story is here. The same report also warned that these artificially low interest rates have …
Jun 29
An amazing news report in the (formerly London) Telegraph this week. The Telegraph reports that the world’s central banks have kept interest rates so artificially low for so long (mostly to allegedly “fix” financial crises in the near past) that the central banks will have no possible way to “fix” any future financial downturns. The …
Jun 29
In the wake of the bankruptcy and default of the Greek government, and the forced closure of all Greek banks for a week, the New York Times is reporting statements by the Governor of Puerto Rico that the island can never repay its $72 billion debt. Like Greece (and many or most modern Keynsian-economics-driven governments), …
Jun 28
Today, June 28, 2015: Greek and European central bankers have declared an incredible SIX-DAY CLOSURE of Greece’s banks. Greece has been bankrupted by years of welfare spending, punishment of savers and entrepreneurs, and overregulation. Now the once-proud-but-now-bankrupt nation will experience the final wages of socialism and extravagant social spending: massive poverty, unemployment, debt and perpetual …
Jun 27
NPR has a story about the “conservative,” “limited-government,” “tea-party-controlled” Republican legislature of Kansas. Like the overwhelmingly Republican-controlled legislatures of Nevada, Montana and elsewhere, the Republican-controlled legislature of Kansas has just enacted a budget with some of the highest tax increases in state history.
