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Austrian Economics: Understand Economics, Understand the World
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The Obama Deception: The Mask Comes Off
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Category: Economy - Browse by Category - News - Analysis - Highlights - Multimedia - Latest Comments Thursday March 5th, 2015

Wednesday March 4th, 2015
Lord Rothschild Warns Investors of 'Most Dangerous Geopolitical Situation Since WWII' posted 03/04/2015, 8:34 PM (Infowars)
[Category: Economy]
Lord Jacob Rothschild has warned investors that the world is mired in the most dangerous geopolitical situation since World War II.

The 78-year-old chairman of RIT Capital Partners, a £2.3bn trust, used the organization’s annual report to caution savers that the focus of the firm would be the preservation of shareholders’ capital and not short term gains.

Rothschild said that “a geopolitical situation perhaps as dangerous as any we have faced since World War II” has created a “difficult economic background” of which investors should be wary.

Rothschild, whose business associates include Warren Buffett and Henry Kissinger, blamed the fraught climate on, “chaos and extremism in the Middle East, Russian aggression and expansion, and a weakened Europe threatened by horrendous unemployment, in no small measure caused by a failure to tackle structural reforms in many of the countries which form part of the European Union”.

“RIT is popular among private investors thanks to its excellent track record and its conservative approach to conserving capital,” notes the Telegraph’s Richard Dyson. Rothschild and his daughter Hannah jointly own shares in the trust worth approximately £160m.

Rothschild’s warning follows reports from January’s Davos Economic Forum during which it was revealed that the wealthy are purchasing secret hideaways in remote locations in order to escape social upheaval and possible riots.

Economist Robert Johnson made headlines when he divulged that "hedge fund managers all over the world...are buying airstrips and farms in places like New Zealand because they think they need a getaway."
... (more)


My Libertarian Vacation Nightmare: How Ayn Rand, Ron Paul & Their Groupies Were All Debunked posted 03/04/2015, 8:33 PM (Salon)
[Category: Economy]
My family and I traveled last month to a Honduras city known for its libertarian ideals. Here's what happened next.... (more)
Here's some other libertarian havens that prove libertards wrong: North Korea, Cuba, and Venezuela. Oh yeah, I almost forgot the late Soviet Union!

Honduras is a statist hellhole, that the leaders of the country want more money and therefor favor a few select "libertarian" policies (just as happened with Pinochet in Chile) doesn't change the entire framework of a society. - Chris


Tuesday March 3rd, 2015



Little-Known Laws That Cripple American Trade posted 03/03/2015, 9:58 PM (Mises Institute)
[Category: Economy]
The harm that Britain’s protectionist Navigation Acts imposed on the colonies was a major impetus for the American Revolution. But the United States did not abandon those unjustifiable restrictions. Even before the Bill of Rights was adopted, Congress in 1789 enacted similar protectionist restrictions on coastal shipping. It is centuries past time to eliminate such harmful restrictions and the Jones Act that is their modern progeny.... (more)


Monday March 2nd, 2015

Video: Obama Supporters Endorse Karl Marx As Next POTUS posted 03/02/2015, 7:11 PM (Infowars)
[Category: Economy]


Cultural commentator Mark Dice returns with another video highlighting how the combination of the cult of personality and general ignorance can lead Americans to agree with any ridiculous statement one can think of.

This time Dice, donning his Obama t-shirt once more, has passers by agreeing with him that it is a good idea for the German Communist economist Karl Marx, who died in
... (more)


How Money Production Can Worsen Income Inequality posted 03/02/2015, 7:11 PM (Mises Institute)
[Category: Economy]
The starting point for any serious reflection on our subject is the fact that money production does not bring about uniform and simultaneous changes. An increasing money supply tends to entail a higher money price level, but the individual prices change at different points of time and each to a different extent (i.e., Cantillon effects).... (more)


Thursday February 26th, 2015



'Destitute' Kim Dotcom Begs High Court For Millions posted 02/26/2015, 1:37 PM (TorrentFreak)
[Category: Economy]
Kim Dotcom was in court today pleading for access to his seized assets. A reportedly "destitute" Dotcom asked for the release of US$152,000 a month for living expenses and as much as US$3m for legal fees. The Megaupload founder said if funds aren't forthcoming, living in a mansion may no longer be an option.... (more)


Tuesday February 24th, 2015

Where is the Skyscraper Curse Today? posted 02/24/2015, 2:27 PM (Mises Institute)
[Category: Economy]
Super tall buildings, or skyscrapers, are being built at an astonishing rate. Ninety-seven buildings that exceed 200 meters (656 feet) high were constructed in 2014, setting a new record. The previous record was eighty-one buildings completed in 2011. The total number of skyscrapers in existence now is 935, a whopping 350 percent increase since the year 2000.

Another record set in 2014 was the completion of eleven super-tall skyscrapers of over 300 meters or nearly 1,000 feet. Tha
... (more)


Monday February 23rd, 2015

Are the Ruling Elites in China Now More Pro-market than the Ruling Elites in the USA? posted 02/23/2015, 1:56 PM (The Beacon)
[Category: Economy]
The current issue of the Cato Policy Report (January/February 2015) contains a short article about a book by Zhang Weiying called The Logic of the Market: An Insider’s View of Chinese Economic Reform, which was originally published in Chinese (and said to be a best-seller in China in that form) and was recently translated into English. The author is the director of Peking University’s Center for Mark... (more)


Friday February 20th, 2015

Why Economic Dependence on Others Is a Good Thing posted 02/20/2015, 1:52 PM (Mises Institute)
[Category: Economy]
In public policy discussions, the words independence and dependence make frequent appearances. Given that American political ideology has in many ways been defined by the Declaration of Independence, Americans naturally think of independence as good and dependence as bad. As a consequence, arguments to implement government policies to reduce our dependence on others — dependence on “foreign oil” being the most common current manifestation — often find a receptive audience.... (more)


Thursday February 19th, 2015

It's Called Recovery, but Where's the Beef? posted 02/19/2015, 1:12 PM (Robert Higgs)
[Category: Economy]
Many economists and other analysts have recognized that the recovery from the U.S. economy’s most recent contraction has been unusually weak—weaker, for example, than any other since World War II. But analysts have disagreed in characterizing the current recovery, which according to the National Bureau of Economic Research, the semi-official arbiter of business-cycle chronology, began in mid-2009 after a contraction that had continued for ten quarters. Some aspects of the economy, such as real G... (more)


Monday February 16th, 2015



How Truly Free Markets Help the Poor posted 02/16/2015, 3:14 PM (Mises Institute)
[Category: Economy]
Discussing poverty as an advocate of free markets is tricky business in today’s world. If one takes poverty seriously and points out the very real plight of the impoverished, it is often assumed that one must therefore be advocating for government “solutions” to the problem. The knee-jerk reaction of many defenders of free markets is to simply deny that poverty exists much at all, or that if the poor just try a little harder, or aren’t so lazy, they won’t be poor anymore.

This sor
... (more)


Friday February 13th, 2015

U.S. Government Debt Is Now at a Once-Unimaginable Level posted 02/13/2015, 10:01 AM (The Beacon)
[Category: Economy]
Earlier today I was looking through some old records, and I came across a flyer for a symposium in which I participated at Seattle University early in 1990. The flyer announced the symposium topic by asking: “A $3 Trillion National Debt: Does It Matter? What Can We Do About It?” The topic seemed timely enough, given that the gross federal debt has just passed the $3 trillion mark for the first time and was rising at a brisk pace. Back then, $3 trillion seemed like “real money,” so some people we... (more)


Thursday February 12th, 2015

Ross Ulbricht, Martyr for Progress, and the Rise of Darkcoin posted 02/12/2015, 9:17 AM (Jeffrey Tucker)
[Category: Economy]
Convicted on all counts, said the jury in the case of Ross Ulbricht, the man who built the original Silk Road website. He faces a minimum of 30 years in prison and a maximum of life.

Never mind that the online drug-distribution market is bigger than ever, and that there are dozens of newer and more polished versions of the Silk Road. It is inconceivable that they will ever go away in this digital age. And the administrators have learned from this trial. They will be more careful
... (more)


Do We Need the State to License Professionals? posted 02/12/2015, 9:16 AM (The Freeman)
[Category: Economy]
Economics columnist Eduardo Porter gave fans of economic freedom a pleasant surprise when he recently praised Uber in the New York Times. He even wondered whether other occupations besides taxis suffered from artificial state restrictions. As welcome as this analysis was, Porter still conceded the basic premise of occupational licensing and made a smart-aleck remark about the bad ... (more)


Wednesday February 11th, 2015

$386M Allegedly Missing, As Investors Fear Bitcoin Ponzi posted 02/11/2015, 7:40 AM (CNBC)
[Category: Economy]
>Hong Kong-based bitcoin exchange MyCoin has allegedly shut its doors and stolen HKD 3 billion ($386.9 million) in the process.

The South China Morning Post reported Monday that 30 MyCoin clients approached a local lawmaker with complaints that the company had fled with funds from up to 3,000 investors.

The reports coming ou
... (more)


Friday February 6th, 2015

The World's Email Encryption Software Relies on One Guy, Who is Going Broke posted 02/06/2015, 7:16 AM (ProPublica)
[Category: Economy]
The man who built the free email encryption software used by whistleblower Edward Snowden, as well as hundreds of thousands of journalists, dissidents and security-minded people around the world, is running out of money to keep his project alive.... (more)
Right after this came out the internet delivered and he's now rolling in dough, good for him. - Chris


Katy Perry Sics Lawyers On Left Shark Vendor posted 02/06/2015, 7:16 AM (CNN)
[Category: Economy]
"Our client [Perry] recently has learned that you have been involved in the manufacture, sale, marketing and distribution of merchandise featuring a shark sculpture which embodies and uses the [Super Bowl halftime show], and that you have displayed this product on your website, in connection with such sale and distribution," the letter read.

The letter from the law offices of Greenberg Traurig demanded that Shapeways.com, the website where Sosa sells his sculptures, cease and desi
... (more)


Red Light Camera Profits Continue To Tumble posted 02/06/2015, 7:16 AM (TheNewspaper)
[Category: Economy]
Red light camera vendor Redflex Trafic Systems saw its stock plummet more than 16 percent overnight as news of its dismal financial performance hit investors. The company on Thursday formally announced a $10 million trading loss for the financial year, even though the company had previously said it would break even. ... (more)


Wednesday February 4th, 2015

How Government Helped Create the Coming Doctor Shortage posted 02/04/2015, 2:14 AM (Mises Institute)
[Category: Economy]
For the last five years, attempts to reform America’s health care system have focused primarily on the demand side of the market, and specifically on the market for insurance. Yet, these reforms have not achieved significant improvements in health care outcomes, nor reductions in cost. As health care specialist John C. Goodman has pointed out in Forbes, the slowed growth of health care spending in the United States is a trend that correlates most closely with supply side reforms suc... (more)


Gallup CEO: 5.6% Unemployment Is One Big Lie posted 02/04/2015, 2:14 AM (Gallup)
[Category: Economy]
Here's something that many Americans -- including some of the smartest and most educated among us -- don't know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.

Right now, we're hearing much celebrating from the media, the White House and Wall Street about how unemployment is "down" to 5.6%. The cheerleading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall
... (more)


White House: Deficit Will Increase 20% This Year (Despite Record Tax Revenue) posted 02/04/2015, 2:13 AM (CNS News)
[Category: Economy]
(CNSNews.com) - The data that the White House published with President Obama's fiscal 2016 budget proposal yesterday indicate that the federal deficit will increase by 20 percent during this fiscal year (2015) even though the administration predicts the Treasury will bring in record revenue during the year.

According to Table S-1 in the "Summary Tables" appendix to the Obama bud
... (more)


Monday February 2nd, 2015

Video: Obamacare Supporters Sign Petition to Extend Obamacare to Pets posted 02/02/2015, 8:23 AM (Infowars)
[Category: Economy]


Beachgoers in San Diego expressed support for extending Obamacare to cover pets, signing a petition that would make people who earn over $80,000 dollars a year pay for the cost of other people’s veterinarian bills.

The stunt was the latest effort from Mark Dice and again underscores how many Americans will blithely go along with virtually anything, no matter how ludicrous, so lo
... (more)


Friday January 30th, 2015

How Much Longer Can the U.S. Economy Bear the Burdens? posted 01/30/2015, 10:02 PM (Robert Higgs)
[Category: Economy]
Ordinary people, and sometimes experts as well, tend to overreact to short-term economic changes. The current economic malaise in the United States and Europe has brought forth a bevy of commentators convinced that this time the economy has taken a permanent turn for the worse. Never again, they declare, will we enjoy growing prosperity as we did in days of yore. Some of these Chicken Littles do see a possible means of escape from the impending doom, but only if the government carries out an ext... (more)


Realtor: 'Paranoia' Driving Wealthy to Buy Homes in New Zealand posted 01/30/2015, 10:02 PM (Infowars)
[Category: Economy]
“Paranoia” is one of the primary factors motivating the wealthy to purchase secret getaways in New Zealand, according to one realtor, with concerns about personal safety and global crises driving the search to acquire a safe haven in a remote location.

During the Davos Economic Forum, economist Robert Johnson made headlines when he revealed that “hedge fund managers all over the world….are buying airstrips and farms in places like New Zealand because they think they need a get
... (more)


The Death Of The American Dream In 22 Numbers posted 01/30/2015, 10:02 PM (Michael Snyder)
[Category: Economy]
We are the generation that gets to witness the end of the American Dream.  The numbers that you are about to see tell a story.  They tell a story of a once mighty economy that is dying.  For decades, the rest of the planet has regarded the United States as “the land of opportunity” where almost anyone can be successful if they are willing to work hard.  And when I was growing up, it seemed like almost everyone was living the American Dream.  I lived on a “middle class” street and I went to a sch... (more)


Thursday January 29th, 2015

Why Has Day Care Become So Unaffordable? posted 01/29/2015, 6:04 PM (The Freeman)
[Category: Economy]
Social democrats want to nationalize childhood by having government fund and manage universal day care. Social conservatives want the family to be the day care, which is a lovely idea when it’s affordable. Libertarians don’t seem much interested in the subject at all. That leaves virtually no one to tell the truth about the only solution to the shortage and high price of day care: complete deregulation.

Let’s start the discussion right now.

The Obama administrati
... (more)


Tuesday January 27th, 2015

America's Best-Selling Cars And Trucks Are Built On Lies: The Rise Of Fake Engine Noise posted 01/27/2015, 4:43 PM (Washington Post)
[Category: Economy]
Stomp on the gas in a new Ford Mustang or F-150 and you’ll hear a meaty, throaty rumble — the same style of roar that Americans have associated with auto power and performance for decades.

It’s a sham. The engine growl in some of America’s best-selling cars and trucks is actually a finely tuned bit of lip-syncing, boosted through special pipes or digitally faked altogether. And it’s driving car enthusiasts insane.

Fake engine noise has become one of the auto industr
... (more)


We're No. 12! Report: U.S. Not Among Top Nations for Economic Freedom posted 01/27/2015, 4:42 PM (CNS News)
[Category: Economy]
(CNSNews.com) - The United States does not rank among the Top 10 countries in the world for economic freedom, according to the Heritage Foundation's 2015 Index of Economic Freedom.

Instead, the U..S. ranked only 12th--after Hong Kong, Singapore, New Zealand, Australia, Switzerland, Canada, Chile, Estonia, Ireland, Mauritius, and Denmark.

Estonia was formerly a part of the Soviet Union.
... (more)


Huge Blow to Irish Import Stores in U.S. as Cadbury is Banned posted 01/27/2015, 4:42 PM (IrishCentral.com)
[Category: Economy]
British-made chocolates will no longer be available in the United States after a legal settlement. Irish import stores which rely heavily on Cadbury products, such as Irish Roses and other treats may be deeply affected.

Due to a settlement with the Hershey’s Company, Let’s Buy British Imports, (LBB), the leading importer of foods from Britain to America, has agreed to stop importing all Cadbury’s chocolate made overseas, the New York Times reports.
... (more)


Monday January 26th, 2015

Obamacare Program Costs $50,000 For Every American Who Gets Health Insurance posted 01/26/2015, 11:29 PM (The Daily Mail)
[Category: Economy]
It will cost the federal government – taxpayers, that is – $50,000 for every person who gets health insurance under the Obamacare law, the Congressional Budget Office revealed on Monday.

The number comes from figures buried in a 15-page section of the nonpartisan organization's new ten-year budget outlook.

The best-case scenario described by the CBO would result in 'between 24 million and 27 million' fewer Americans being uninsured in 2025, compared to the year bef
... (more)


Radical Leftists Win Election In Greece - Future Of Eurozone In Serious Jeopardy posted 01/26/2015, 12:42 PM (Michael Snyder)
[Category: Economy]
Radical leftists have been catapulted to power in Greece, and that means that the European financial crisis has just entered a dangerous new phase.  Syriza, which is actually an acronym for “Coalition of the Radical Left” in Greek, has 36 percent of the total vote with approximately 80 percent of the polling stations reporting.  The current governing party, New Democracy, only has 28 percent of the vote.  Syriza leader Alexis Tsipras is promising to roll back a whole host of austerity measures t... (more)


Friday January 23rd, 2015

Are Falling Prices a Bad Thing? posted 01/23/2015, 2:53 PM (The Beacon)
[Category: Economy]
Popular opinion seems to be that falling prices–or even stable prices–are bad for the economy, but I’ve never seen any good arguments about why. I’ve just read another article about this, that gives six clearly numbered reasons, so let’s look at what the article says to see if they hold up.

First, the article says, “When shoppers see persistent price declines, they hold ou
... (more)


Thursday January 22nd, 2015

London Mayor to Pay 'Six-Figure' American Tax Bill posted 01/22/2015, 3:24 PM (The Telegraph)
[Category: Economy]
Boris Johnson has finally agreed to pay a huge tax bill to the US government ahead of his visit to America, despite previously insisting he would not bow to the “absolutely outrageous" demand.

The London mayor, who was born in New York and holds a US as well as a British passport, has said he will pay the unsettled capital gains tax bill, thought to be in the region of £100,000.

His decision will ensure that his visit to Boston, New York and Washington next month -
... (more)


Wednesday January 21st, 2015

Why Should the Government Deliver Mail? posted 01/21/2015, 1:00 PM (Jacob G. Hornberger)
[Category: Economy]
In a country where people extol the virtues of free enterprise, why is the U.S. government involved in the delivery of mail? After all, it would be difficult to find a better example of a violation of the principles of free enterprise than the U.S. Postal Service.

Making the situation worse is the fact that the Postal Service is a monopoly. That means that the law expressly prohibits anyone in the private sector from competing against the government in the delivery of first-class
... (more)


Let’s Secede from the American Monetary Union posted 01/21/2015, 12:59 PM (Mises Institute)
[Category: Economy]
The Swiss central bank’s recent move to de-peg the Swiss franc from the euro reminds us of the importance of choice in currency. By pegging the Swiss franc to the euro, the Swiss central bank was in effect subsidizing the euro by refusing to compete with it. If carried into the long term, this would have meant a de facto monetary union between the euro and the franc. Fortunately for most people however, the Swiss central bank maintained its legal independence from the euro and the peg was eventu... (more)


Tuesday January 20th, 2015

Marc Faber: "The Only Way To Short Central Banks Is To Be Long Gold" posted 01/20/2015, 11:31 AM (Zero Hedge)
[Category: Economy]
Amid all the turmoiling on global financial markets over the last few months, one 'asset' has held up surprisingly well (to some). As Marc Faber recently told SocGen's global strategy conference this week, gold has absorbed its fair share of the commodities-market blows in recent years, but now is the time to move back into the precious metal, "I'm positive [that] gold will go up substantially [in 2015] — say 30%." As Marketwatch reports, Faber singled out U.S. stocks as especially overvalued bu... (more)


Honduras to Unveil First ZEDE in March posted 01/20/2015, 11:31 AM (Panam Post)
[Category: Economy]
In March, Honduras is to officially unveil plans for its first Zone of Employment and Economic Development (ZEDE), due to be constructed on the southern Pacific coast of the Central American nation.

The government will formally present the multi-million dollar project once the partnering Korean International Cooperation Agency (KOICA) submits feasibility plans.
... (more)


Friday January 16th, 2015

Peter Schiff: Swiss Surrender Wins Currency War posted 01/16/2015, 9:47 AM (Peter Schiff)
[Category: Economy]
By ending its three year currency peg to the weakening euro Switzerland has become the first major economy to surrender in the international currency war, and in so doing has given a long-delayed victory to the Swiss people. Contrary to the indignant reaction by the media and financial establishment, the decision is not a disaster for Switzerland. A continuance of an open-ended peg to the euro could have ultimately ruined the country. Its surprise move, perhaps prompted by the European Central B... (more)
Schiff Podcast on the move...


What In The World Just Happened In Switzerland? posted 01/16/2015, 9:47 AM (The Economic Collapse)
[Category: Economy]
Central banks lie.  That is what they do.  Not too long ago, the Swiss National Bank promised that it would defend the euro/Swiss franc currency peg with the “utmost determination”.  But on Thursday, the central bank shocked the financial world by abruptly abandoning it.  More than three years ago, the Swiss National Bank announced that it would not allow the Swiss franc to fall below 1.20 to the euro, and it has spent a mountain of money defending that peg.  But now that it looks like the EU is... (more)


The True Cost of the Homeownership Obsession posted 01/16/2015, 9:47 AM (Mises Institute)
[Category: Economy]
In 2014, the US homeownership rate fell below 65 percent, which means it’s back to where it was during the 1970s and much of the 1990s. Various federal agencies have long made homeownership a priority, and have introduced a bevy of government and quasi-government programs including the GSEs like Fannie Mae, FHA-insured loans, VA-insured loans, the Bush administration’s “American Dream Downpayment Initiative” and, of course central bank meddling to keep interest rates nice and low for the mortgag... (more)


Puerto Rico Dumps Traffic Cameras, Orders Refunds posted 01/16/2015, 9:47 AM (TheNewspaper)
[Category: Economy]
The public in Puerto Rico complained so loudly about the photo enforcement program that the territory's government listened. Red light cameras went up at three intersections in October dealing out $250 tickets for making rolling right turns, speeding or having a recently expired vehicle registration. On Thursday, Governor Alejandro Garcia Padilla (D) had his transportation department refund every ticket issued.

"Since this was a pilot project, as we've always said, it was subject
... (more)


Thursday January 15th, 2015

There's No Such Thing as an Unregulated Market posted 01/15/2015, 9:36 AM (The Freeman)
[Category: Economy]
A big economic problem the world faces is semantic. That is, “regulation” has come to mean “government regulation.” We don’t seem to be aware of the alternative: regulation by market forces. That’s a problem because it leads us to accept so much government meddling that we would be better off without.

We want the aims of regulation — regularity and predictability in markets, decent quality and reasonable prices for the goods and services we buy — and thinking that government regu
... (more)


Bitcoin Revealed: A Ponzi Scheme for Redistributing Wealth from One Libertarian to Another posted 01/15/2015, 9:35 AM (Washington Post)
[Category: Economy]
If Bitcoin were a currency, it'd be the worst-performing one in the world, worse even than the Russian ruble.

But Bitcoin isn't a currency. It's a Ponzi scheme for redistributing wealth from one libertarian to another. At least that's all it is right now. One day it could be more. Venture capitalists, for their part, are quick to point out that it's really a protocol, like the early internet, and its underlying technology could still be revolutionary. What are they supposed to say
... (more)


Tuesday January 13th, 2015

Free Trade: The Engine of Revolution posted 01/13/2015, 8:19 AM (Wendy McElroy)
[Category: Economy]
Cutting off trade does not punish “the enemy” but strengthens him.... (more)


Monday January 12th, 2015

'Silk Road Reloaded' Just Launched on a Network More Secret than Tor posted 01/12/2015, 6:54 AM (Motherboard)
[Category: Economy]
A new anonymous online drug market has emerged, but instead of using the now infamous Tor network, it uses the little known "I2P" alternative.

"Silk Road Reload​ed" launched today, and is only accessible by downloading the special I2P software, or by configuring your computer in a certain way to connect to I2P web pages, called 'eepsites', and which end in the suffix .i2p.
... (more)


Saturday January 10th, 2015

Venezuelans Throng Grocery Stores Under Military Protection posted 01/10/2015, 8:34 AM (Bloomberg)
[Category: Economy]
Shoppers thronged grocery stores across Caracas today as deepening shortages led the government to put Venezuela’s food distribution under military protection.

Long lines, some stretching for blocks, formed outside grocery stores in the South American country’s capital as residents search for scarce basic items such as detergent and chicken.

“I’ve visited six stores already today looking for detergent -- I can’t find it anywhere,” said Lisbeth Elsa, a 27-year-old j
... (more)


Friday January 9th, 2015

Bitcoin Jesus Denied Entry To U.S. After Renouncing Citizenship posted 01/09/2015, 7:16 AM (Wendy McElroy)
[Category: Economy]
Roger Ver is a virtual currency millionaire who has been dubbed the Bitcoin Jesus because of his avid advocacy of the blockchain money, which includes his seeding many businesses that use it. Last year, the libertarian-anarchist became a citizen of the Caribbean nation of St. Kitts and Nevis and renounced his American citizenship. Ver may be a bellwether of how the US plans to treat those who renounce their citizenship or who are otherwise inconvenient expats.

A frequent speaker
... (more)


McDonald's Runs Out of French Fries in Venezuela posted 01/09/2015, 7:09 AM (Associated Press)
[Category: Economy]
"Most of the shortages in Venezuela are driven in part by the country's tight currency controls, which make it hard to get dollars at a subsidized rate for imports while creating a thriving black market for currency. As a result, the country either has the most expensive Happy Meal in the world ($27 the official exchange rate) or the cheapest (90 cents at the black market rate)."... (more)


Australia Raw Milk Producers Forced to 'Spoil' Their Own Milk for Sale posted 01/09/2015, 7:08 AM (Activist Post)
[Category: Economy]
The Australian government wants its people to literally "recoil in horror" if they ever dare to have a taste of unpasteurized fresh milk. So much so, they are forcing raw milk producers to contaminate their future milk goods with a bittering agent that would entirely preclude human consumption.

The "spoilage" we're talking about here is to prevent the possibility of people getting around the regulation to consume it or let their animals consume it by...ruining it! Making it not
... (more)
Flashback: The Chemist's War: The little-told story of how the U.S. government poisoned alcohol during Prohibition with deadly consequences.


Obama Admin. Unleashes 300 Regulations In The First Week Of 2015 posted 01/09/2015, 7:08 AM (The Daily Caller)
[Category: Economy]
This year is already seeing a wave of new regulations being published in the Federal Register as the Obama administration unveils 300 new rules in the first seven days of 2015, according to federal data.

Federal agencies have published 300 final rules, proposals for new rules and regulatory notices in the seven days since the new year began, according to the website Regulations.gov. The bulk of these new regulations are notices, which can lead to rulemakings, meetings and othe
... (more)


Styrofoam to Be Banned in New York City Beginning July 1 posted 01/09/2015, 7:08 AM (Entrepreneur.com)
[Category: Economy]
New Yorkers have fewer than six months to say goodbye to their Styrofoam cups.

Mayor Bill de Blasio announced on Thursday that all plastic-foam containers and packaging will be banned from New York City as of July 1. Restaurants, stores and manufacturers will no longer be allowed to possess, sell or offer items made with expanded polystyrene (EPS).
... (more)


Thursday January 8th, 2015

Let There Be Money posted 01/08/2015, 3:18 AM (Robert P. Murphy)
[Category: Economy]
For more than a century, skeptics of government power have rightly focused on the damage caused by interventions in money. As the market’s classic commodity moneys have been displaced by unbacked State-issued paper, libertarians — particularly those versed in Austrian economics — have disparaged fiat currencies and championed commodity-based money, especially gold and silver.

Unfortunately, the complaints against State fiat money can be imprecise at times, leading libertarians t
... (more)


Tuesday January 6th, 2015

Oil Falls Below 50 As Global Financial Markets Begin To Unravel posted 01/06/2015, 5:20 AM (The Economic Collapse)
[Category: Economy]
On Monday, the price of oil fell below $50 for the first time since April 2009, and the Dow dropped 331 points.  Meanwhile, the stock market declines over in Europe were even larger on a percentage basis, and the euro sank to a fresh nine year low on concerns that the anti-austerity Syriza party will be victorious in the upcoming election in Greece.  These are precisely the kinds of things that we would expect to see happen if a global financial crash was coming in 2015.  Just prior to the f... (more)


Receive an Obamacare Subsidy? Surprise! You May Owe Money to the IRS posted 01/06/2015, 5:20 AM (The Daily Sheeple)
[Category: Economy]
Remember those Obamacare subsidies, the ones that were supposed to make healthcare “affordable” for Americans?

6.8 MILLION people received those subsidies under the ACA in 2014.

A nasty surprise is in store for about half of those people – an estimated 3.4 million Americans – when
... (more)


Monday January 5th, 2015

11 Predictions Of Economic Disaster In 2015 From Top Experts All Over The Globe posted 01/05/2015, 6:02 AM (The Economic Collapse)
[Category: Economy]
Will 2015 be a year of financial crashes, economic chaos and the start of the next great worldwide depression?  Over the past couple of years, we have all watched as global financial bubbles have gotten larger and larger.  Despite predictions that they could burst at any time, they have just continued to expand.  But just like we witnessed in 2001 and 2008, all financial bubbles come to an end at some point, and when they do implode the pain can be extreme.  Personally, I am entirely convinced t... (more)


Total National Security Spending Is Much Greater than the Pentagon's Base Budget posted 01/05/2015, 6:02 AM (The Beacon)
[Category: Economy]
In a recent publication of the Mercatus Center at George Mason University, "Defense Spending Extends Beyond the Pentagon's Budget," Veronique de Rugy presents a valuable compilation of data for fiscal year 2013, showing how much of the government's national security spending appears not in the base budget of the Department of Defense, but elsewhere in the government's budget. This point is important be... (more)


What True Health Care Reform Would Look Like posted 01/05/2015, 6:02 AM (Mises Institute)
[Category: Economy]
With the relatively recent passing of America’s new healthcare law; the Affordable Care Act (Obamacare), the topics of healthcare, health insurance, prices and reform have been particularly hot lately. This of course does not mean that the controversies surrounding the American healthcare system are anything new. Healthcare prices are getting higher with many hospital visits for certain conditions totaling bills of millions of dollars. Also, the laws regulating the industry are getting heavier b... (more)


Friday January 2nd, 2015

Salary Info Shows Strength of Union Muscle posted 01/02/2015, 9:53 PM (Reason)
[Category: Economy]
In its 2013 obituary of Nobel-winning economist James M. Buchanan, the Washington Post described him as "the man who got economists to care about politics." I view Buchanan as the man who explained why California has so many long-term fiscal problems even though he didn't specifically focus on our state.

The political system, as described in civics textbooks (to the degree the public schools still teach civics
... (more)


Wednesday December 31st, 2014

Government Spending Does Not Help the Economy posted 12/31/2014, 6:09 PM (Mises Institute)
[Category: Economy]
Some economists such as Nobel Laureate Paul Krugman hold that during an economic slump it is the duty of the government to run large budget deficits in order to keep the economy going. On this score — given that from 2011 to 2014 the rate of growth of real gross domestic product (GDP) hovered at around 2 percent — many experts are of the view that the budget deficit, which stood at $483 billion in 2014, wasn’t large enough.... (more)


Tuesday December 30th, 2014

Marc Faber: Expect Surprises in 2015 posted 12/30/2014, 4:58 AM (Bloomberg)
[Category: Economy]


Dec. 29 -- Marc Faber, publisher of the Gloom, Boom & Doom report, talks about global financial markets, oil and investment strategy.

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Female Cop Escapes Punishment After Casually Beating & Bloodying Woman Who Called 911 For Help - 03/03Report: Cops Tased Man Repeatedly "Until His Heart Blew Out" - 03/03Wyoming Governor Vetoes Asset Forfeiture Bill, Because Asset Forfeiture 'Is Right' - 03/04Watch this Police Officer Get Owned After He Pulls Over a Former Cop for Honking at Him - 03/04Federal Appeals Court Endorses Suspicionless Detention Of Air Force Officer - 03/03Jury Acquits Hollywood Man Who Said He Grew Pot Because He Medically Needed It - 03/03Video Exposes Lying Cops After they Break Handcuffed Man's Skull Open & Claim he Did it to Himself - 03/04Lord Rothschild Warns Investors of 'Most Dangerous Geopolitical Situation Since WWII' - 03/04

Man Follows Speeding Cop, Finds Out He Was Speeding To Buy PeanutsMission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement'Cop Shoots Couple's Dog, Threatens Jail For Trying To Save Dog's LifeSWAT Team Shoots Teen Girl & Her Dog During Pot Raid On Wrong HomeDurham, NC Cop Testifies Faking 911 Calls To Enter Homes Is "Official Policy"Indiana Sheriff Says US A "War Zone" To Justify New MRAP Military VehicleTampa Cops Surveil Pot Dealer, Catch Him Selling Pot, Raid His Home & Kill Him"You Just Shot An Unarmed Man!": Witness Says Police Shot His Friend With His Hands UpCop Receives 'Silver Valor Award' For Shooting Man With Cell Phone He Mistook For GunAnonymous Cop Pens Bizarre Editorial Calling for 'End of Anonymity on the Internet,' Says All Internet Posters Should be Forced to Register with the Government for 'Public Safety'
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