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Austrian Economics: Understand Economics, Understand the World
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
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Category: Economy - Browse by Category - News - Analysis - Highlights - Multimedia - Latest Comments Page 4 Friday February 5th, 2016
Nevada Orders Daily Fantasy Sports Shut Down as Unlicensed Gambling posted 10/17/2015, 2:19 AM (Reuters)
[Category: Economy]
Fantasy sports operations, in which fans pay to compete for daily cash prizes in simulated athletic contests, were ordered shut down in Nevada on Thursday by the state's Gaming Control Board, which found they constitute unlicensed gambling.

The decision came a week after U.S. Senate Democratic leader Harry Reid of Nevada called on Congress to examine fantasy sports services after reports that an employee with access to insider information placed bets in the unregulated multibillio
... (more)
Lottery winners in Illinois get IOUs for prizes over $600...

Thursday October 15th, 2015

Which Is More Valuable: Deodorant or Apple's New iPhone 6s? posted 10/15/2015, 10:59 PM (The Freeman)
[Category: Economy]
Many college students are eager to upgrade to Apple's new iPhone 6s -- or so my daughter tells me. But she's not. The battery life of her $100 Android phone is at least 48 hours on one charge; her friends can't get through the day without charging their iPhones. She's okay with her smaller screen and its lower resolution; battery life is her value driver.

"What presidential candidate are your iPhone-using friends supporting?" I asked her.

"Bernie Sanders," she repor
... (more)

Wednesday October 14th, 2015

The Numbers Say That a Major Global Recession Has Already Begun posted 10/14/2015, 9:33 PM (The Economic Collapse)
[Category: Economy]
The biggest bank in the western world has just come out and declared that the global economy is “already in a recession”.  According to British banking giant HSBC, global trade is down 8.4 percent so far this year, and global GDP expressed in U.S. dollars is down 3.4 percent.  So those that are waiting for the next worldwide economic recession to begin can stop waiting.  It is off... (more)

The Creative Destruction of Nudity in Playboy Magazine posted 10/14/2015, 9:33 PM (The Freeman)
[Category: Economy]
Playboy has finally found a new way to shock and titillate America.

The magazine has announced that it will no longer feature full nudity. Instead, it will be moving toward a partially clad, cheesecake pin-up style.

When I heard the news, I immediately wondered what the great economist Joseph Schumpeter would have made of it. Schumpeter, who famously sought to become the world's greatest economist, lover, and
... (more)

Trump: Economic Bubble About to Burst posted 10/14/2015, 9:30 PM (The Hill)
[Category: Economy]
NEW YORK — GOP presidential frontrunner Donald Trump warned The Hill in an exclusive interview of a looming economic recession, arguing that the stock market has already entered into another bubble.

[...]Trump also accused Federal Reserve Chairwoman Janet Yellen of keeping interest rates low in order to shield Obama from having to leave office during a recession.

“She’s keeping the economy going, barely,” Trump said. “The reason they’re keeping the interest rate do
... (more)

Monday October 12th, 2015

VIDEO: Clueless Californians Have No Idea the Price of 100oz Silver Bar posted 10/12/2015, 6:12 PM (Infowars)
[Category: Economy]

In a remarkable video posted by activist Mark Dice, several people he stopped on the street would not even entertain a guess at the value of silver, with some not seeming to understand what the precious metal is.

Dice gave several respondents the opportunity to win a 100 ounce silver bar if they could guess its value. He even agreed to give the bar to them if they guessed within f
... (more)

Friday October 9th, 2015

Once More: The TPP Agreement Is Not a Free Trade Agreement, It's a Protectionist Anti-Free Trade Agreement posted 10/09/2015, 5:07 PM (Techdirt)
[Category: Economy]
We've pointed out a few times in the past that while everyone refers to the Trans Pacific Partnership (TPP) agreement as a "free trade" agreement, the reality is that there's very little in there that's actually about free trade. If it were truly a free trade agreement, then there would be plenty of reasons to support it. But the details show it's ... (more)

Thursday October 8th, 2015

Truck Vendors Must Ask Permission From Competitors to Do Business posted 10/08/2015, 3:49 PM (Activist Post)
[Category: Economy]
Is there a war on food truck vendors? In San Antonio, Texas there is…

Imagine if you had to ask permission from your competitors to continue doing business or face closure?

As more people catch the entrepreneurial bug, vending trucks make good sense. It's a relatively mobile business that saves tens of thousands on start-up costs, creates independence and even bolsters local economies.

That is until cities in tandem with restaurant organizations s
... (more)

California's "Equal Pay" Law Will Discourage Businesses, Encourage Lawyers posted 10/08/2015, 3:49 PM (The New American)
[Category: Economy]
This is going to be great for lawyers, according to Al Latham, himself a labor lawyer and an occasional guest lecturer at the University of Southern California: “It is going to lead to lots more litigation, which further weakens the business climate in California.” Another labor lawyer, Geoff DeBoskey, agreed on both counts: more work for lawyers and more business for U-Haul companies as companies exit the state’s increasingly anti-business climate. He said that employers will “move operations a... (more)
Absolutely massive handout to the trial lawyer lobby. - Chris

Wednesday October 7th, 2015

No More "Free Trade" Treaties: It's Time For Genuine Free Trade posted 10/07/2015, 4:46 PM (Mises Institute)
[Category: Economy]
It is erroneous to believe that free traders have been historically in favor of free trade agreements between governments. Paradoxically, the opposite is true. ... (more)

Tuesday October 6th, 2015

Uber's Peaceful Revolution posted 10/06/2015, 4:39 PM (The Freeman)
[Category: Economy]
Standing in the back of the main programming room at Uber headquarters, one looks across hundreds of focused employees with open browsers. They are following requests and rides in hundreds of cities around the world. The people making deals are connecting peer to peer. But there's still more work to do. Uber employees are observing traffic flows, tweaking pricing, troubleshooting, testing new features, fixing issues, monitoring bandwidth, approving new drivers, and taking other actions to keep t... (more)

Failure to Launch posted 10/06/2015, 4:37 PM (Peter Schiff)
[Category: Economy]
The popular belief that the U.S. economy has been steadily recovering has endured months of disappointing data without losing much of its appeal. A deep bench of excuses, ranging from the weather to the Chinese economy, has been called on to justify why the economy hasn't built up any noticeable steam, and why the Fed has failed to move rates off zero, where they have been for seven years. But the downright dismal September jobs report that was released last Friday may prove to be the flashing r... (more)

Most Americans Have Less Than $1,000 in Savings posted 10/06/2015, 4:37 PM (Marketwatch)
[Category: Economy]
Americans are living right on the edge — at least when it comes to financial planning.

Approximately 62% of Americans have less than $1,000 in their savings accounts and 21% don’t even have a savings account, according to a new survey of more than 5,000 adults conducted this month by Google Consumer Survey for personal finance website “It’s worrisome that such a large percentage of Americans have so little set aside in a savings account,” says Cameron Huddlesto
... (more)

2,000% Drug Price Surge Is a Side Effect of FDA Safety Program posted 10/06/2015, 4:36 PM (Bloomberg)
[Category: Economy]
Colchicine, a gout remedy so old that the ancient Greeks knew about its effects, used to cost about 25 cents per pill in the U.S. Then in 2010 its price suddenly jumped 2,000 percent.

That’s just one of the side effects of a U.S. Food and Drug Administration plan to encourage testing of medicines that have been around longer than the modern FDA itself, and so have never gotten formal approval. Companies that do the tests are rewarded with licenses that can temporarily give them mo
... (more)

Monday October 5th, 2015

Federal Government Pay Exceeds Most Industries posted 10/05/2015, 2:28 PM (Cato @ Liberty)
[Category: Economy]
New data show that worker compensation is rising faster in the federal government than in the private sector. After rapid growth in federal pay during the George W. Bush years, growth slowed from 2011 to 2013 after policymakers enacted a partial freeze on federal wages.

That era of restraint is now over. The latest data from the Bureau of Economic Analysis (BEA) show that wages rose 2.9 percent in the federal government in 2014, on average, compared to 1.7 percent in the private s
... (more)

Right Now There Are 102.6 Million Working Age Americans That Do Not Have a Job posted 10/05/2015, 2:28 PM (The Economic Collapse)
[Category: Economy]
The federal government uses very carefully manipulated numbers to cover up the crushing economic depression that is going on in this nation.  For the month of September, the federal government told us that 142,000 jobs were added to the economy.  If that was actually true, that would barely be enough to keep up with population growth.  Sadly, the truth is that the real numbers were actually far worse than that.  The unadjusted numbers show that the U.S. economy actually lost 248... (more)

Bernanke: Wall St Execs Should Have Gone to Jail For Crisis posted 10/05/2015, 2:27 PM (Associated Press)
[Category: Economy]
WASHINGTON (AP) — Former Federal Reserve Chairman Ben Bernanke says some Wall Street executives should have gone to jail for their roles in the financial crisis that gripped the country in 2008 and triggered the Great Recession.... (more)

The Reign of Recycling posted 10/05/2015, 2:26 PM (New York Times)
[Category: Economy]
IF you live in the United States, you probably do some form of recycling. It’s likely that you separate paper from plastic and glass and metal. You rinse the bottles and cans, and you might put food scraps in a container destined for a composting facility. As you sort everything into the right bins, you probably assume that recycling is helping your community and protecting the environment. But is it? Are you in fact wasting your time?... (more)

Friday October 2nd, 2015

The Reality Behind the Numbers in China’s Boom-Bust Economy posted 10/02/2015, 1:04 PM (Mises Institute)
[Category: Economy]
Last year, the world was stunned by an IMF report which found the Chinese economy larger and more productive than that of the United States, both in terms of raw GDP and purchasing power parity (PPP). The Chinese people created more goods and had more purchasing power with which to obtain them — a classic sign of prosperity. At the same time, the Shanghai Stock Exchange Composite more than doubled in value since October of 2014. This explosion in growth was accompanied by a post-recession constr... (more)

Wednesday September 30th, 2015

Canada Wants To Cut Price Of 'World's Most Expensive Drug'; US Manufacturer Sues To Stop It posted 09/30/2015, 1:36 PM (Techdirt)
[Category: Economy]
The Turing Pharma case has received widespread coverage, but as Techdirt readers know, it's hardly a unique example of the pharmaceutical industry taki... (more)

That $750 Generic Pill Is a Pure Artifact of Regulation posted 09/30/2015, 1:36 PM (Cato @ Liberty)
[Category: Economy]
As you probably know if you follow the news, a man named Martin Shkreli in charge of a startup firm called Turing Pharmaceuticals bought the rights to a drug called pyrimethamine (brand name Daraprim), used in the treatment of AIDS and malaria, and announced that he was jacking up its price from $13.60 to $750. Massive outrage resulted, which has echoed through social media for the past week.

Pyrimethamine is long since off patent. It is not difficult to manufacture, and sells che
... (more)

Fossil Fuels Are the Lifeblood of Modern Civilization posted 09/30/2015, 1:29 PM (The Beacon)
[Category: Economy]
"We don't want to 'save the planet' from human beings; we want to improve the planet for human beings." --Alex Epstein

I never thought I would encounter a book titled The Moral Case for Fossil Fuels. After all, in this day and age, it is the politically correct and fashionable trend for activists, media, and politicians to call upon each and every one of us to break our "addiction" to oil
... (more)

Tuesday September 29th, 2015

Shopping for Soulmates posted 09/29/2015, 11:50 AM (The Freeman)
[Category: Economy]
One of the fun parts about learning economics is realizing how broadly it can be applied. Once you understand the basic logic of scarcity, opportunity cost, and the rest of the economic way of thinking, all kinds of social phenomena are open to explanation.

Including relationships.

The economic way of thinking might explain some recent changes in how people find their way into romantic relationships. These changes affect marriage, divorce, and infidelity.
... (more)

The Bad and Good about Trump's Tax Plan posted 09/29/2015, 11:49 AM (Laurence M. Vance)
[Category: Economy]
The bad: The Trump campaign claims the plan “doesn’t add to our debt and deficit” and is “revenue neutral.”

The good: The Tax Foundation says: “It’s hard to see how the plan would reach revenue neutrality.”
... (more)

Monday September 28th, 2015

Time for Bond Investors, Especially in Chicago, To “Know What You Own” posted 09/28/2015, 10:44 AM (The Beacon)
[Category: Economy]
Four U.S. cities went belly up recently, and all declared bankruptcy due to unaffordable government pension costs. The outcomes of these bankruptcies should make everyone think twice about lending money to cities with serious public pension debts.... (more)

Friday September 25th, 2015

Google Starving Out Independent Antiwar Journalists posted 09/25/2015, 10:18 AM (Activist Post)
[Category: Economy]
While mainstream media routinely uses shock imagery to induce fear over all manner of threats to America and its allies, some independent Internet journalists are being restricted by advertising policies which penalize them for countering the establishment view.... (more)
Yours truly got a similar email demanding the removal of some super old article with a few Abu Ghraib abuse photos. I reluctantly complied, it's a very weird policy. - Chris

People Are Freaking Out About This Janet Yellen Speech posted 09/25/2015, 10:17 AM (YouTube)
[Category: Economy]

Maybe she's feeling guilty...

Thursday September 24th, 2015

Pope Francis Graph of the Day posted 09/24/2015, 11:04 AM (Cato @ Liberty)
[Category: Economy]
As the Argentine Pope, ever critical of capitalism, visits the United States, my colleagues at have posted this graph.
... (more)

Hans Hermann Hoppe, Democracy, De Civilization, and Counterculture posted 09/24/2015, 11:01 AM (YouTube)
[Category: Economy]

Hans Hermann Hoppe delivers a speech at the Property and Freedom Society, 2015.

Wednesday September 23rd, 2015

"Happy Birthday" Enters Public Domain, Judge Rules Copyright Invalid posted 09/23/2015, 9:02 AM (TorrentFreak)
[Category: Economy]
A group of artists have won a landmark victory over the Happy Birthday song. A California judge ruled that the copyrights to one of the world's most popular melodies is invalid. As a result, Happy Birthday enters the public domain while a multi-million dollar licensing business is destroyed.

Starting today everyone is free use “Happy Birthday” without having to pay a license fee, as a California federal court ruling just entered the popular song into the public domain.
... (more)

Scott Nations Refuses to Admit Peter Schiff Was Right posted 09/23/2015, 8:59 AM (YouTube)
[Category: Economy]

Peter Schiff has a contentious interview on CNBC Futures Now.

'Hated' CEO Lowering Price of $750 AIDS Drug Daraprim posted 09/23/2015, 8:59 AM (CNN)
[Category: Economy]
The company that hiked the price of Daraprim, a drug used to treat AIDS patients, is backing off.

Pharmaceutical company Turing increased the price of a drug called Daraprim from $13.50 to $750 a pill and its CEO, Martin Shkreli, quickly became the focus of public anger. The over 4,000% increase also caught the eye of Hillary Clinton. She tweeted about it Monday, saying she wanted to put an end to drug "price gouging."
... (more)

Tuesday September 22nd, 2015

The Economics of Hillary Clinton posted 09/22/2015, 9:07 AM (Mises Institute)
[Category: Economy]
In a recent Labor Day speech to union workers in Illinois, Hillary Clinton declared that if she is elected president of the United States, she would make sure that “some employers go to jail for wage theft and all the other abuses they engage in.” Her incendiary comments were obvious “red meat” for the audience, but it also helped to clarify her own economic views and how she would govern if elected.... (more)

Monday September 21st, 2015

A Mini-Course in Trade posted 09/21/2015, 8:15 AM (Jacob G. Hornberger)
[Category: Economy]
In every economic exchange, both sides benefit, each from his own individual, personal perspective. That's because each trader gives up something he values less for something he values more. Thus, at the moment of the trade, each of the traders is better off than he was before the trade. The standard of living of both traders has been improved by the simple act of trade.

Got it?

Okay, well then, here's your first Pop Quiz:

Suppose John has 10 apples a
... (more)

Groundhog Day at the Fed posted 09/21/2015, 8:10 AM (Peter Schiff)
[Category: Economy]
Every dictator knows that a continuous state of emergency is the best means to justify tyrannical policies. The trick is to keep the fictitious emergency from breeding so much paranoia that routine activities come to a halt. Many have discovered that its best to make the threat external, intangible and ultimately, unverifiable. In Orwell's 1984 the preferred mantra was "We've always been at war with Eurasia," even though everyone knew it wasn't true. In its rate decision this week the Federal Re... (more)

100 Years of Government's "Managed" Health Care posted 09/21/2015, 8:10 AM (Mises Institute)
[Category: Economy]
The term “managed care” entered the common lexicon in the 1990s, when contracted arrangements between physicians and hospitals on the one hand, and insurance entities on the other, became standard means to try to control healthcare expenditures. The origin of the concept is frequently credited to Dr. Paul Ellwood and his influential Jackson Hole Group, who introduced the idea in the early 1970s.... (more)

Friday September 18th, 2015

Still Waiting... posted 09/18/2015, 6:43 AM (Peter Schiff)
[Category: Economy]
Once again the Fed’s bite has failed to live up to its bark. Despite months of expectations that it would finally raise rates for the first time since 2006, the Fed continued to sit on its hands while pointing to some unspecified date in the future when all the economic and financial stars will align in a way that makes a 25 basis point increase appropriate. Am I the only one getting bored by the repetition?

Just like it has in prior statements, the Fed’s Open Market Committee pai
... (more)

In Thrall to the Federal Reserve posted 09/18/2015, 6:43 AM (Mises Institute)
[Category: Economy]
Perhaps no economic pronouncement in history has been anticipated, discussed, predicted, dissected, and reported like the Federal Reserve’s momentous decision today not to raise interest rates.

The outpouring of relief witnessed today by the financial press is nothing short of cathartic. Fear and anxiety, built up over months, is replaced by relief, even euphoria.
... (more)

Thursday September 17th, 2015

Is China Really Crashing? posted 09/17/2015, 6:42 AM (The Beacon)
[Category: Economy]
We seem to be panicking about China's economy. Let's pause and look at some of the facts.

First, consider the short-term concerns that sent shock waves across the world. Unlike the United States, where very developed capital markets are connected to the economy at large, in China the linkage is less strong. Even so, what has really happened to the stock market over there? The Shanghai Composite Index has dropped from 5,166 in June of this year to 3,005 as I write this--about 4
... (more)

Wednesday September 16th, 2015

Yes, You Do Understand Economics posted 09/16/2015, 6:18 AM (Michael McKay)
[Category: Economy]
The other day I was having coffee with a new friend, a retired businessman who customized luxury cars in California. I mentioned I had recently retired from owning an investment firm and had many years of study of economics, especially Austrian Economics.

As so many people I have met before him, he said, "I really don’t understand economics and always have been confused by it."

To which I surprised him with, "Of course you understand economics; it is the thought pro
... (more)

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Muslim Woman Explains How The Mosque Obama Spoke At Treats Women (Hint: It's Not Good) - 02/04Retired Cop Gets Taste Of Police State After Officers Bust In, Assault Him - 02/04NYPD Cop Wins $15m After Fellow Cops Falsely Arrested & Beat Him At His Daughter's Birthday - 02/04Paul Joseph Watson And Stefan Molyneux On The Real Agenda Behind The Migrant Crisis - 02/04NYPD Cop, Whose Job Was to Bust Prostitutes, Exposed as a Pimp in Massive Sex Trafficking Ring - 02/04Hillary Clinton Suggests She Can't Be Part Of The Establishment Because She Is A Woman - 02/04TCU Professor Calls Police On Disabled Student Veteran Over Dissenting Opinion - 02/04Jeb Bush Preps The Noose... - 02/03

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