Contrary to popular way of thinking, the threat to US economy is not the high level of debt as such but credit that is not backed up by real savings. Also, the fall in the money stock that precedes price deflation and an economic slump is actually triggered by the previous loose monetary policies of the central bank and not the liquidation of debt.
From the 2006 Supporters Summit: Imperialism: Enemy of Freedom, 27-28 October 2006, Auburn, Alabama.
There is nothing inherently slimy about trading real estate, and certainly nothing warranting the state’s regulation of this market.
Unless there were some serious lack of coordination among prices, costs, and wages, mass unemployment would not exist in the first place.
The trouble with online gambling was that it was too successful in the eyes of many.
A real cultural transformation, which not only addresses the façade, but more importantly the roots can happen only through discussions, a thorough churning in the realm of ideas, something a society has got to go through to evolve.
There are no short cuts, and inherent in this understanding is a lesson for those who want to force freedom or whatever virtues on others.
Last Friday, I presented a paper (co-authored with Walter Block) at the 49th Colloquium on the Law of Outer Space at the International Astronautica
From the book What Has Government Done to Our Money? Narrated by Jeff Riggenbach.
We are being conditioned to believe that for every problem, there is a government answer, and nothing lies outside its purview and expertise. Even mild cases of food poisoning merit a nation-wide investigation and crackdown on bad guys, who, we are encouraged to believe, are always in the private sector and never in the public sector.
Evidently, it was only after extensive knowledge was gained while training to be a mortgage loan officer and studying for a real estate sales license that the now former hairdresser realized borrowing 100 per cent of the sales price to buy real estate that generated a $5,000-plus negative cash flow each month created "a potential for serious financial hardship, such as foreclosure or personal bankruptcy if they could not make their mortgage payments."
