Richard Daughty on the Fiscal and Monetary Insanity of the Whole Freakin' World

So I wondered "How can I make a lot more money without, you know, working? For example, how did the guys who got in first, or got out first, know to get in, or know to get out? What, what, what did they know?"

Naturally, I turned to economics, and started with the usual college textbooks and bookstore offerings, all centered around that Keynes crap that they teach almost everywhere, which I found both logically incomprehensible and (my suspicions having been vindicated QED) a Big Stinking Load Of Crap (BSLOC)!

Then, one happy, lucky day, flailing around as I was, lost in the darkness of modern economic Keynesian econometric stupidity, I stumbled upon the Austrian Business Cycle Theory, I forget how or where, but probably Hazlitt's "Economics in One Easy Lesson," and then it was Rothbard, Hayek and Mises from then on!

An interview with the zany (but intriguing) Mogambo Guru.

Ike Warned Us

50 Years Ago Today

Eisenhower warned in his Farewell Address in 1961 that the United States should not become a "garrison state," but 50 years later we have developed a garrison mentality with unprecedented military spending; continuous military deployments; exaggerated fears with regard to "Islamo-terrorism" and now cyberwars; and exaggerated aspirations with regard to counterinsurgency and nation-building. Eisenhower understood that the military-industrial complex fostered an inordinate belief in the omnipotence of American military power.

Hu Highlights Need for U.S.-China Cooperation, Questions Dollar

Some of Mr. Hu's most significant comments dealt with the future of the dollar and currency exchange rates.

"The current international currency system is the product of the past," he said, noting the primacy of the U.S. dollar as a reserve currency and its use in international trade and investment.

The comment is the latest sign that the dollar's future continues to concern the most senior levels of the Chinese government. 

Uh oh. China has caught on the Federal Reserve's shenanigans and is calling for a change in it's monetary policies. The Fed has overseen the demise of the dollar since 1913. China owns a lot of them and is in position to dictate terms on future US monetary policy. Geithner and Bernanke should pay attention to Mr. Hu's words and  not be fooled by his good manners and charms.

Darwin Was Right

Note that China has that perfect government, an intelligent dictatorship concerned with advancing the country. The American government consists of self-interested lobbies and Wall Street looters. China is run by engineers, America by lawyers. Watch. 

The US is midway through an inexorable suicide. If a country does not manufacture things, it does not have an economy, and manufacturing has fled American shores. Ship-building, steel, consumer electronics, railroads: gone.

"I'm angry. Waste always makes me angry and that's what this is, sheer waste!" ~ Rhett Butler

Fred watches America's decline from his aloof accommodations in Mexico.

10 Things That Would Be Different If The Federal Reserve Had Never Been Created

So how would America be different if we could go back to 1913 and keep the Federal Reserve Act from ever being passed?  Well, the following are 10 things that would be different if the Federal Reserve had never been created....
#1 If the U.S. government had been issuing debt-free money all this time, the U.S. government could conceivably have a national debt of zero dollars.  Instead, we currently have a national debt that is over 14 trillion dollars.
#2...

What might have been had the Fed never existed....

New Congress, Same Old Leviathan

We’ve all heard various political pledges to “cap” or “reduce” U.S. federal spending from many of the 64 new GOP Congressman and seven new GOP Senators elected last November, many of whom were bolstered in their campaigns (and rhetoric) by the “tea party” movement. But don’t expect such cuts to occur. U.S. federal spending will be greater in the coming year than it was in 2010 — and greater still in 2012 than it will be in 2011. Why? Not a single one of the principal programs or institutions of the current-day welfare-warfare state will have been altered in any material way, least of all by the Bush-like “compassionate conservatives” who continue to dominate GOP leadership.

Expect more of the same from the new Congress says Richard Salsman.

“Toning Down The Rhetoric” Means Obeying Big Government

Despite the fact that Jared Lee Loughner was a psychotic loner with “left-wing” beliefs according to those who knew him, the establishment has hastily exploited yesterday’s tragic shooting in Tucson to demonize conservatives, libertarians and gun owners while ordering Americans to “tone down the rhetoric,” which is nothing more than a euphemism for stifling dissent and coercing people to roll over on Obamacare, bailouts and whatever big government is preparing to unleash next.

At the risk of being accused of aiding, abetting and condoning violence, we will maintain our defense of free speech, gun rights and Austrian economics in the wake of the tragic events in Tucson, AZ.