If mainstream economists and market analysts’ predictions (wishes?) come true, and the US Federal Reserve lowers rates several times in the next few months, contrary to popular belief, things in the medium and long term will unequivocally get worse, writes David Saied. The upcoming events and the current Fed seem to be reminiscent of the early 1970s, where the Fed continuously “inflated” the money supply to fend off recession, therefore creating stagflation.
The Michigan government has secured a new, 24-hour ATM machine: the taxpayers. A Michigan government shutdown was averted in the middle of the night when the bozos in the legislature decided to pass a 6% service tax. Governor Granholm says she will “consider a repeal only if other new tax revenue is found to avoid cuts to education, public safety, and health care.” Where have we heard that before?
Leland C. Brendsel is accused of presiding over accounting manipulations and running Freddie Mac in a reckless manner. Buffett, one of the most successful and revered investors, sold a huge stake in the mortgage funding company before the manipulations came to light, and the government wanted him to explain why.
A selection of quotes from Ernest Hemingway’s “Notes on the Next War: A Serious Topical Letter” first published in Esquire (September 1935): - “War is no longer made by simply analysed economic forces if it ever was.
These nice people wanted a piece on the writers’ strike in Hollywood.
Those were the closing words of Jim Rogers on a lengthy interview broadcast today on Bloomberg News.
Action is always directed toward the future; it is essentially and necessarily always a planning and acting for a better future, wr
Look at this wonderful pamphlet from 1946, called One Year After, by Virgil Jordon:
Reassessing the Presidency, John Denson (ed.) Epistemological Problems of Economics, by Ludwig von Mises (improved version)
Mises coined the term Fourier Complex in 1927 to describe the ends sought by those who dream of the world envisioned by Charles Fourier, the utopian socialist of the 19th century. Its sufferers desire equality in starvation rather than variation in plenty. Redistribution is not ethical; it’s theft and destruction. It is simply a means to satisfy the envy of some who seek to harm those who have obtained greater wealth through the satisfaction of the wants of consumers.
