INTERESTING: Tom Woods on Economics and American History

Monday, July 18, 2011

http://youtu.be/m-LJ3wZjD4I

A great thirty minutes.

Wish I’d seen it in High School.

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MONEY: Wikipedia’s explanation of “malinvestment” is sparse

Wednesday, June 30, 2010

A OPEN EMAIL TO LEW ROCKWELL, A CHAMPION OF AUSTRIAN ECONOMICS

Dear Mister Lew:

Re: http://en.wikipedia.org/wiki/Malinvestment

Perhaps you could (if you are so moved), or one of your bright interns (you exploiter of the youth), could write an appropriate text for Wikipedia that truly reflect such an important word.

I’d do it, but I’m just a fat old white guy injineer. Remember the sources of my education: I’m just a fat old white guy injineer with: Law “degree” from watching Judge Judy, Medical “degree” from watching Doctor Phil, Building “degree” from watching “Holmes on Homes”, and Investing “degree” from reading about Bernie Made-off.

To which I’ll probably add ekenomicks from reading Mises and Rockwell. Yes, in college, (manhattan college manhattan dot edu), in my economics course, “Human Action” was on the supplemental reading list. And I read it then. Didn’t understand most of it. Surprised? Don’t be; in theology, we had to read a translation of Luther’s Ninety-Five Theses, Bhagavad Gita, and “Essays in Zen Budhism”. I hated that class; the Professor had a thing for “God and the Ways of Knowing” by Jean Danielou. Even four decades later, I can remember him babbling on about good old Danny Lou. But, those were the days. When Universities were truly about imparting wisdom regardless of the source. Not like today when it’s ersatz “whizdumb”.

In any event, I commend the link for your attention.

fjohn aka alibertarianin08824
behind enemy lines in Pepuls Republik of Nu Jerzee

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MONEY: Don’t save your wealth in fiat money

Tuesday, October 20, 2009

http://hbdbooks.com/2009/10/what-powers-government-fiat-money/

Fiat Money: The Fuel of Government
October 15, 2009 in Book Reviews, Economics
End the Fed
By Ron Paul

*** begin quote ***

The ability to print money gives the government unlimited power. If you tax the people too much they rebel. But if you declare your paper to be the only thing used as legal tender and allow yourself to print as much of it as you want, there’s no limit to what you can do. The effects of inflation are as real as any tax. It’s just that the people are slower to notice and connect their lower living standards to the actions of the government. The scariest power that the Federal Reserve gives government is that to wage war.

*** end quote ***

How can you subject your hard earned wealth to theft by inflation?

How can you defend your hard earned wealth?

Other fiat currencies? Gold? Silver? International equities? Non dollar denominated bonds?

The Family Farm?

Maybe the farm, because you can still eat. But the Estate Taxes will prevent yo from passing it on.

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MONEY: Thinking about your paycheck

Saturday, October 17, 2009

http://dailyreckoning.com/your-salary-not-slashed-yet-just-wait-it-could-still-be-offshored/

Your Salary Not Slashed Yet? Just Wait, it Could Still be Offshored
By Rocky Vega

*** begin quote ***

It’s not an isolated occurrence, as former White House economist Alan Blinder points out, 38 percent of American jobs could ultimately meet this fate. He recommends that measures be immediately taken in anticipation of these extraordinarily tough times.

*** end quote ***

In the formula of how much of an emergency fund you need, you better reassess how stable your job is.

The answer is “not very”!

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RANT: Can’t be a player and umpire at the same time

Friday, October 16, 2009

http://jasonalba.com/2009/10/13/health-insurance-tracks-cost-of-medical-care-bs/comment-page-1/#comment-46036

Affordable Outplacement
Health Insurance Tracks Cost Of Medical Care. BS.
Jason Alba

*** begin quote ***

That was what I thought the lie was. Based on my summer, with a birth and a surgery, I could not believe the overhead and price inflation caused by insurance companies. You can read about it on my JibberJobber blog, but understand that the hospital bills for the birth of my kid were about 60% discounted because we were self-pay, and we paid up front.

In other words, because we bypassed the health insurance system we were able to avoid 60% of the cost. Unbelievable.

*** end quote ***

My observation on the upcoming “Obama-care” where the gooferment will become — in quick order — my “insurance company”. (Yeah, I know what they say. But, I think it’s going to be “Medicare for everyone”. To paraphrase Judge Judy, “I wouldn’t believe you …” (i.e. a congress critter; any politician) “… if your tongue came notarized!”

If my insurance company screws me, I can go to the gooferment for relief. If the gooferment aka my insurance company screws me, to whom do I go to for relief? To the gooferment’s courts?

Just take my screwing and shut up!

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POLITICS: Increase savings and decrease spending at home

Saturday, October 3, 2009

http://www.lewrockwell.com/schiff/schiff49.1.html

The Price of Pretense in Pittsburgh by Peter Schiff

*** begin quote ***

Noting that a return to pre-crisis economics is impossible, the president assured the world that his administration will pursue policies to increase savings and decrease spending at home and challenged his Chinese counterparts to enact measures with the opposite effect in their own country.

While this is roughly what needs to happen, President Obama is actually doing everything in his power to prevent it. In point of fact, every policy move undertaken by his administration has exacerbated the very imbalances he supposedly wants to curtail. To so seamlessly profess one goal while simultaneously undermining it is an impressive piece of political theater. Unfortunately, this particular drama is likely to have an unhappy ending – and the ticket price will be staggering.

*** end quote ***

Upon reflection, when these very ugly chickens come home to roost, as also forecast by Reverend Wright, will there be any way to escape it?

It would seem that getting out of debt and getting very small in terms of exposures would be a good strategy.

Tactically, shift assets to durables, stockpile, and think defensively.

Argh!

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GOVEROTRAGEOUS: Beck calls the FED out

Wednesday, September 16, 2009

Glen Beck on his show now just called out the FED.

“Helicopter” Ben testified that the FED would NOT monetize the debt.

Today, Glen, with some help, demonstrated that the FED auctioned debt to the “public” and the next month bought that specific debt on the secondary market.

Can you say “shell game”?

I bet the Chinese are really steamed with their 5T$!

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