I love a volatile market. One of its most amusing aspects is the terrific number of predictions that go preposterously wrong, then right, then wrong, then right again. Outsiders must look upon the lot of us with absolute disbelief. Imagine trying to explain the last few weeks of market swings to an alien visitor. I suspect he'd pack up his extraterrestial belongings, and get the heck out of town faster than you can say "David in Qatar is an idiot." [more]
I really enjoyed this article debunking activist propaganda that one in eight Americans is "struggling with hunger." Much like other government numbers, the statistics on American hunger are massaged, redefined, distorted, and massaged again until they fit the perception people want to convey. It happens with the CPI, the unemployment rate, climate change, gun control, just about any number that the government puts out. Often it's not done as an evil attempt to "trick the public," but rather to trick their bosses and their bosses' bosses, so that the department will look useful and receive more funding. And the bureacracies sprawl.... [more]
Painful video to watch, simply because it is so on target. Very difficult to swallow. [more]
I challenge those who know little of the wars to watch this video. [more]
According to the National Bureau of Economic Research, the United States has had 18(!) recessions in the last 90 years - one every five years. Please be aware that one of the reasons America adopted the Central Banking system was to stablize the business cycle. In this respect, a reasonable person must conclude that the Federal Reserve has failed. [more]
I wonder if any Fools know what the best performing global stock index was in 2007, gaining an astonishing 12,000% during one twelve months span? If you know the answer, perhaps you also know the reason for its spectacular success, and its 2008 results.
I'll provide the answer in a few hours if no one knows.
David in Qatar
As Gold continues its assault on 4 digit territory, priced at $1058 per ounce currently, it is redundant to say that its price is rising. However, it's not the price of gold that is important, but rather what it can purchase that is important. In other words, the purchasing power of gold continues to rise, and that is what matters. The value of any money is based on what it can purchase. [more]
Not for rec's, just for sharing knowledge. Here is a special on PBS discussing ideas of freedom, anarchy, limited government, central planning, and more with Thomas Woods. It's a 30 minute video, however, it is definitely worth your time if you wish to explore these ideas on a deeper level. [more]
What follows is an excerpt from Thomas Woods' excellent book Meltdown. Among the many profound insights found within, including an Austrian School explanation of the boom-bust cycle and its application in the dot.com and housing booms and busts, is an overview of Japan's two decade recession. [more]
WASHINGTON - The Libertarian Party today suggested that, in the future, the announcement date every year for Nobel Prizes be moved to April 1. [more]
Recovery? Possibly but only if you ignore or otherwise discount unemployment.
Stagflation? Very likely. Slow growth and high unemployment isn't much of a stretch from here is it?
Defaltion, not so much.
That is all.
David in Qatar
This evening I had a "holy sh*t" moment. It's one of those rare times when I see the movement of liberty in a new way and am completely surprised once again by how far the teachings of Mises and Rothbard have spread. An essay on money use in Iraq was recently published on the front page of the Mises Institute. The significance for me is that it was written by a Marine officer stationed in Iraq who has some interesting insights into the purpose of money in a society. I know how popular the concept of individual liberty is among Marines (not to be confused with the State loving warmongers and cockpit cowboys in the Air Force.) I didn't know that the Austrian School had followers among the boots on the ground in Iraq. I hardly could have guessed that there would be a young Marine studying money in a war torn society. Kudos to Captain Edward Gonzalez, and Mises editor Jeffrey Tucker for publishing it. [more]
"But today, I can dream, and I am dreaming of an Olympic and Paralympic Games in Chicago.... that will expose all our neighborhoods to new sports and new role models; that will show every child that regardless of wealth, or gender, or race, or physical ability, there is a sport and a place for them, too." - Michelle Obama [more]
Those Keynesians sure know how to pull off a jobless recovery don't they? [more]
In this blog I will attempt to show you that two commonly held American beliefs are actually completely incompatible. They stand in direct opposition to each other and can not be reconciled. This post is intended to help you question your own thought process so that you may come to a better understanding of the interrelationships of economics, liberty, monetary policy, and foreign policy. None of these things exist in a vacuum and, as I'm about to show you, some institutions harm people in other institutions. [more]