There may be runs on banks, but they won't come from American depositors. The following is an excerpt from Harangue by Garet Garrett. It will explain the matter. [more]
Before I get to the article of the day, I want to throw a couple things out there. First, and I will expand on this tomorrow or as soon as I have a chance, can you imagine all of the American bank customers suddenly in a panic, running to the banks to pay back all their loans? No? Then you should begin to understand why there will be no bank runs by the typical American customer. [more]
"All labor is alike. All wage earning is slavery. Let us organize as slaves, rise, destroy the boss and be free. This is War! Class War! The employer and the wage slave have nothing in common. They are enemies forever. In one big union of all wage slaves we shall have the power to ruin capital simply by withholding our hands, by giving the least for the most, by secret acts of sabotage. Thereby we destroy private profit. When we have destroyed private profit we have destroyed the wage system. When we have done that we may take the means of production intor our own hands and the world is set free." - The theoretical justification for modern government and union policy. [more]
I bought FNET a couple of months ago at $1.195, so I'm happy today. It's up almost 200% today. But i'm a little weary. I can't find any news as to why it shot up, and to be honest it makes no sense. [more]
There is always a scarcity of labor. Always. It is an economic fact of life. Why? Because those greedy businessmen are motivated by profit. Assuming the guy you hire isn't a complete waste of space, he should bring in more nickels than you shell out for him. Socialists call this labor exploitation. The rest of us call this cooperation. [more]
I have a simple rule at work. No propaganda allowed. I have a TV in my office, but it is not a place of worship. My coworkers have found out the hard way that I will unplug the TV rather than let them view the news. No FOX, CNN, MSNBC or any other puppet is allowed to bark at me while I'm trying to get work done. It's a simple rule. You can watch your sick news programs at home. [more]
Apparently it happened, though I want some verification before I take this as anything more than a very funny joke. Either way, I got a good chuckle out of this: [more]
The whole economy is the result of what indivduals do.
Every price formation in the unimpeded market is the result of the subjective evaluations of individual actors.
Every economic action is purposeful. [more]
Funny that historian Robert Higgs would ask this question. It gets asked here quite often...ahem.....: [more]
Or Benny Bin Laden as Alstry refers to him. [more]
It appears that I'm not done yet. Look, nobody wants to go through life fat, dumb, and drunk. Well, almost no one. If I'm wrong about the Fed, there should be some answers to my questions. Last post, I asked four questions for Fed supporters. I received no answers. Read the blog here. The four questions were simple and concerned the following topics: [more]
"Everyone must read this book -- Congressmen and college students, Democrats and Republicans -- all Americans. The Federal Reserve, which serves private banks, has compromised our economy and is undermining our freedom. It can and must be stopped now. Ron Paul shows us how and why we must end the Fed. Read this book!"
--Vince Vaughn [more]
Hi everyone. I'm actually in the good ole U.S.ofA. right now! America...... **** yeah! Unfortunately, I'm here for a funeral (not America's, nor Uncle Sam's, but in fact my Uncle. He was a great man and he will be missed.) The trip itself has been exhausting and included an airport mixup in Rome, lost luggage (American Airlines.....you suck), a borrowed suit, 3am wakeups because I can't get my body adjusted, and a job interview (I already have a job! Leave me alone!) Oh, and a funeral. Very sad and crazy week. [more]