Economy

Rule 5 Saturday Thursday!

"Many of the new mega rich of the 1990s and 2000s got their wealth through their government connections. Or by understanding how government worked. This was especially apparent on Wall Street. … This was all the more regrettable because, in a crony capitalist system, the huge gains of the few really do come at the expense of the many. There was an irony here. Perhaps Marx had been right all along. It was just that he was describing a crony capitalist, not a free price system, and his most devoted followers set up a system in the Soviet Union that was cronyist to the core."

It's Rule 5 Sunday!

"The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning. Those who are asking for more government interference are asking ultimately for more compulsion and less freedom." — Ludwig von Mises

CNBC reports:

The Fed more or less met market expectations for this meeting, though some traders thought ...

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It's Rule 5 Sunday!

"Despite the stump rhetoric, the political class is not interested in fostering a vibrant commercial life to help you and me get by in this world. Instead, it is interested in extracting as much revenue as possible from the existing commercial environment. The government elites want their cut, regardless of the consequences."

"There is no way that a deficit doesn't become a tax increase sometime down the road. We are ...

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More retro Rule 5 Sunday Monday!
"[Sound Money] is the system that government does not want us to have, because it provides no special favors for enhancing state power. Sound money shackles the government to the will of the people and not vice versa."

It's retro Rule 5 Sunday!
"If the monetary central planners have been trying to create jobs through the roundabout method of "wealth effects," they ought to be profoundly embarrassed by their incompetence. The only thing that has happened on the job-creation front over the last decade is a massive expansion of the bedpan and diploma mill brigade; that is, employment in nursing homes, hospitals, home health agencies, and for-profit colleges. Indeed, the HES complex accounts for the totality of American job creation since the late 1990s."

It's Rule 5 Sunday!
"It may sound shocking to some, but modern-day America compares "favorably" to fascist Germany of the 1930s with regard to the degree to which the state interferes with and controls economic activity.

This is a fascinating lecture about the collapse of the Soviet Union by Robert Wenzel at the Austrian ...

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It's Rule 5 Sunday!

"[T]he voters of Colorado and Washington have placed themselves and their states on equal legal footing with both national and international governments. This is important, because, if thanks to nullification, governments have to obtain acceptance, or at least acquiescence from subsidiary governments, rather than just imposing their dictates on them, they are more likely to act in a less threatening and harmful manner."

It's Rule 5 Sunday!

"Skyrocketing tuition, high default rates, and pathetic graduation rates — to name a few — are all byproducts of a system that incentivizes inefficiency, largess, and misguided decisions. Oddly, while many students aren't legally permitted to take a sip of alcohol, they are systematically encouraged to contract into years of, essentially, indentured servitude. It is evident that the aggregate result of FFA is net harm."

It's Rule 5 Sunday!

"Like the housing bubble, the education bubble is about security and insurance against the future. Both whisper a seductive promise into the ears of worried Americans: Do this and you will be safe."

It's Rule 5 Sunday!

"Minimum wage, then, is hardly the innocent idea its supporters suspect it to be. Like all other forms of market intervention, it is hijacked by those with evil intent — those who seek to use the violence of the law to serve their own ends."

Pushing tired, old mainstream economic opinion (which was incredibly, uncannily wrong, and still is), ...

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It's Rule 5 Sunday!

"Whether the student-loan industry is run by the American government or by subsidized lending institutions, the business model is flawed and will continue to force prices upward regardless of whether it makes economic sense."

Google disabled my AdSense account because of my Rule 5 posts last week, so I'm going to be making some changes. This post, for example, isn't nearly so risqué as I've posted before. Get the full details (later this evening) here: Rule 5 Update.

Anyway … Enjoy infamous Rule 5 Sunday!

"The Fed's aggressive pumping policies highlight the destructive nature of loose money. Popular mainstream theories aside, the actions of the Fed have proven that monetary pumping cannot grow an economy. It can only set in motion a process of destruction."

It's infamous Rule 5 Sunday Tuesday!

"[T]he government's food pyramid was not founded on science, but rather, it was based in politics and serving special interests. The food pyramid is a purely political animal developed by politicians to serve political ends. It was Senator George McGovern and his Select Senate Committee on Nutrition and Human Needs that gave us these politicized and destructive federal dietary guidelines."

Merry Christmas!

2012-12-25

Merry Christmas!

11 Ways to Get Into the Holiday Spirit...

Hoping to avert the "fiscal cliff" crisis they themselves created, the House of Representatives tried passing "Plan B" ...