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Big Brother/OrwellianBrave New WorldCommentaryCover-Up/DeceptionsEconomyGeneralGeopoliticsHealthHistoryPolitics/CorruptionResistanceScience/TechnologyTyranny/Police State

An Introduction to Austrian Economics: Understand Economics, Understand Everything
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
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
Category: Economy - Browse by Category - News - Analysis - Highlights - Multimedia - Latest Comments Page 4 Thursday December 18th, 2014

Wednesday February 26th, 2014
Bitcoin Exchange Mt. Gox Goes Offline Amid Allegations of $350 Million Hack posted 02/26/2014, 12:59 PM (Wired)
[Category: Economy]
Mt. Gox, once the world’s largest bitcoin exchange, has gone offline, apparently after losing hundreds of millions of dollars due to a years-long hacking effort that went unnoticed by the company.

The hacking attack is detailed in a leaked “crisis strategy draft” plan, apparently created by Gox and published Monday by Ryan Selkis, a bitcoin entrepreneur and blogger (see below). According to the document, the exchange is insolvent after losing 744,408 bitcoins — worth about $350 mi
... (more)

Tuesday February 25th, 2014

"Doing my online econ homework. I knew it wasn't the 'right' answer but I had to try." [Pic] posted 02/25/2014, 12:37 PM (r/Libertarian)
[Category: Economy]

"The prompt is "the federal government's nutritional guidelines urge adults to eat at least 5 cups of fruits and vegetables each day." then it asks a question about externalities and then "the government should...", Although the two questions are not directly related. And the correct answer is D." - From parkowl via r/Libertarian.

Monday February 24th, 2014

WhatsApp With That? posted 02/24/2014, 12:50 PM (Peter Schiff)
[Category: Economy]
Two pieces of business news announced this week provide a convenient frame through which to view our dysfunctional and distorted economy. The first (which has attracted tremendous attention), is Facebook's blockbuster $19 billion acquisition of instant messaging provider WhatsApp. The second (which few have noticed) is the horrific earnings report issued by Texas-based retail chain Conn's. While these two developments don't seem to have much in common, together they shed some very unflattering l... (more)

Does Anybody Remember the Crash of 2008? posted 02/24/2014, 12:50 PM (Will Grigg)
[Category: Economy]
 Benjamin Franklin observed that “Experience keeps a dear school, but fools will learn in no other.” That warning about the prohibitive price of persistent foolishness has been lost on millions of Americans who are eagerly taking on catastrophic levels of personal and institutional debt

A little more than five years ago,
... (more)

No, Robots Won't Take All Our Jobs Away posted 02/24/2014, 12:50 PM (YouTube)
[Category: Economy]

Economist George Reisman joins Tom Woods to explode the "robots will take all our jobs" argument.

Save the Elephants: Sell Ivory posted 02/24/2014, 12:50 PM (The Freeman)
[Category: Economy]
Unfortunately, these days most new ivory comes from poachers. The killing of elephants has sparked a new form of prohibition, with steadily tighter controls over ivory sales. Only antique ivory objects may be shipped across international boundaries, while even legal accumulations of ivory may be sold only with special sanction of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).

As a result, elephants have turned into modern-day bison—sim
... (more)

Why Is The Copyright Monopoly Necessary, Anyway? posted 02/24/2014, 12:50 PM (Rick Falkvinge)
[Category: Economy]
The copyright industry is amazing at pretending the copyright monopoly has always been there in its current form. But international copyright monopolies didn't exist in practice across the Western world before 1989.... (more)

HuffPo Columnist: I Infringe, So All Broadband Users Must Pay A New Piracy Tax posted 02/24/2014, 12:49 PM (Techdirt)
[Category: Economy]
Most people understand that letting the entertainment industry tax everybody for the behavior of a few people simply makes no coherent sense. Except apparently for "musician and freelance writer" Chris Peak, who in at attempt at humor over at the Huffington Post proudly proclaims that he thinks it would be a nifty idea if all broadband subscribers had to pay a monthly fine for the behaviors of other people.... (more)

Thursday February 20th, 2014

Colorado's New Cannabis Economy posted 02/20/2014, 9:29 AM (Ryan McMaken)
[Category: Economy]
What would have happened if one or two states had somehow managed to legalize alcohol during prohibition? Most likely, those states would have become centers of entrepreneurship with retail outlets, medicines, and innovation in equipment, machinery, and other forms of capital related to alcohol-related industries.

With the recent legalization of recreational cannabis use in both Washington state and Colorado, we're able to see a similar experiment in action.

While t
... (more)

Bank of Montreal shuts down bitcoin-related business accounts in Canada posted 02/20/2014, 9:28 AM (PFHub)
[Category: Economy]
The Bank of Montreal (BMO) has become the first financial institution in Canada to take action against bitcoin (BTC). It was confirmed by Cointrader co-founder and CTO Paul Szczesny in a press release that the bank would be closing down all bitcoin-related business accounts across the country amid initiatives and comments made by the Ministry of Finance pertaining to the cryptocurrency market.... (more)

Wednesday February 19th, 2014

Man says IRS surprised him by collecting debt ... from 34 years ago posted 02/19/2014, 9:01 AM (KWCH)
[Category: Economy]
Imagine the government coming after you for an unpaid debt that's more than 30 years old.

A Hutchinson man says that's exactly what happened to him. And the IRS took the money out of his 2013 tax refund.
... (more)

Tuesday February 18th, 2014

Coffeecare: The Affordable Coffee Act posted 02/18/2014, 8:03 AM (YouTube)
[Category: Economy]

What would it be like if we had to buy coffee like we have to now buy health insurance?

Thursday February 13th, 2014

Hawaii: Big Island plastic-bag ban to begin posted 02/13/2014, 6:17 AM (Hawaii News)
[Category: Economy]
A ban on plastic bags is set to begin Jan. 17 at all Big Island grocery stores, restaurants and other retailers.... (more)
Let the tree massacre begin!

Wednesday February 12th, 2014

Another Bitcoin Flash Crash Imminent? Second Major Exchange Follows MtGox In Suspending Withdrawals posted 02/12/2014, 7:12 AM (Zero Hedge)
[Category: Economy]
Bitcoin plunged another 15% or so from its bounce highs this morning as volatility has picked up dramatically in the virtual currency. The reasons are numerous: JPMorgan has come out with a scathing attack - "bitcoin looks like an innovation worth limiting exposure to;" CoinDesk reports that major exchanges are under a "massive and concerted attack" by a bot system - creating a "fog of confusion" over the system; and perhaps most critically, BitStamp has followed Mt.Gox and halted withdrawals "d... (more)

Tuesday February 11th, 2014

Florida Legislative Report Pans Red Light Camera Safety posted 02/11/2014, 6:01 AM (TheNewspaper)
[Category: Economy]
Revenue from red light cameras in Florida has more than tripled in the past year, from $38 to $119 million, but a report by the state's Office of Program Policy Analysis and Government Accountability found no commensurate jump in traffic safety. In a report released Friday, the analysts for the legislative branch surveyed the 79 jurisdictions that use automated ticketing machines to determine the impact the devices have had since they were authorized in 2010.... (more)

The Man Behind the Hong Kong Miracle posted 02/11/2014, 6:01 AM (The Freeman)
[Category: Economy]
Three cheers for Hong Kong, that tiny chunk of Southeast Asian rock. For the twentieth consecutive year, the Index of Economic Freedom—compiled by The Wall Street Journal and the Heritage Foundation—ranks Hong Kong (HK) as the freest economy in the world.

Though part of mainland China since the British ceded it in 1997, HK is governed locally on a daily basis. So far, the Chinese have remained reasonably faithful to their promise to leave the HK economy alone. What makes it so fre
... (more)

Monday February 10th, 2014

Americans Renouncing Citizenship Up 221%, All Aboard The FATCA Express posted 02/10/2014, 6:49 AM (Forbes)
[Category: Economy]
America is a great land and lures immigrants worldwide, yet record numbers of U.S. citizens and permanent residents are giving up their citizenship or residency. For all the immigrant arrivals the trickle the other direction is increasing. The number is still small, with the “published” expatriates for the quarter 630 for the last quarter of 2013.... (more)

Friday February 7th, 2014

3 tons of seized illegal ivory crushed in Paris posted 02/07/2014, 4:00 AM (Daily Star)
[Category: Economy]
Thursday's pulverization is intended to send a message to poachers and traffickers that preservationists hope will help stem the illicit trade that endangers the species' survival. Other countries to do the same recently include the United States, Gabon and China, ivory's biggest market.... (more)
...and illegal poachers rejoice because that means prices will stay artificially high thanks to a constrained supply! Thanks government!

Russell Brand: Philip Seymour Hoffman is another victim of extremely stupid drug laws posted 02/07/2014, 3:59 AM (The Guardian)
[Category: Economy]
In Hoffman's domestic or sex life there is no undiscovered riddle – the man was a drug addict and, thanks to our drug laws, his death inevitable.... (more)

Thursday February 6th, 2014

US Towns Declaring Bankruptcy Are The Lucky Ones posted 02/06/2014, 12:35 AM (The Dollar Vigilante)
[Category: Economy]
Who knew Detroit is the lucky one by being forced into Chapter 9 bankruptcy?

The majority of Scranton, Pennsylvania's remaining 76,000 residents want to declare Chapter 9, and they want it yesterday. Bob Quinn, president of the Scranton and Lackawanna County Taxpayers Association explains, “The silent majority would like to see bankruptcy. Basically, it’s down to a point where people cannot afford to pay the taxes and are moving out of town.”

In a Reuters article (A
... (more)

Peter Schiff Breaks Down "The Daily Show"'s LIES In Video Report posted 02/06/2014, 12:35 AM (YouTube)
[Category: Economy]

Peter Schiff sets the record straight in his latest video report!

How Prohibition Makes Heroin More Dangerous posted 02/06/2014, 12:35 AM (Reason)
[Category: Economy]
Because someone famous died in Manhattan from an apparent heroin overdose on Sunday, The New York Times has a front-page story today about "a city that is awash in cheap heroin." How cheap? The Times says a bag of heroin, which typically contains about 100 milligrams, "can sell for as little as $... (more)
An old best friend from childhood just died of a heroin OD two weeks ago. He's the third young man in my grade who has died specifically from heroin OD. After the government made oxy-contin rock solid and virtually impossible to take recreationally they all switched to heroin for 1/12th the cost. Unfortunately, due to prohibition it's not made by a pharmaceutical company but vagrant drug dealers who don't have million dollar faculties to rid it of all impurities and assure perfectly regulated doses. - Chris

Wednesday February 5th, 2014

Marc Faber Fears "A Vicious Circle To The Downside" Is Just Beginning posted 02/05/2014, 1:40 AM (Zero Hedge)
[Category: Economy]
"It's not just tapering that is putting pressure on markets," Marc Faber warns in thie brief clip. "Emerging economies have practically no growth and we have a slowdown in China that is more meaningful than strategists are willing to believe," he adds and this is "causing a vicious circle to the downside" in inflated asset markets as most of the growth in the world over the last five years has come from emerging markets. Faber suggests Treasuries as a s... (more)

Why Are Bitcoiners Going to Jail for Money Laundering While Big Banks Walk? posted 02/05/2014, 1:40 AM (VICE)
[Category: Economy]
BitInstant CEO Charlie Shrem, along with alleged co-conspirator Robert Faiella, was arrested by federal authorities last week for allegedly laundering more than $1 million worth of bitcoins. This is a tiny amount compared to the largest drug-and-terrorism money laundering case ever. Yet when British bank HSBC was found guilty in 2012 of laundering billions, the firm paid a fine of $1.9 billion. Authories made no arrests, and HSBC still turned a $13.5 billion profit that year.
... (more)

Tuesday February 4th, 2014

California Threatens to Shut Down Coding Bootcamps posted 02/04/2014, 12:20 AM (The Verge)
[Category: Economy]
Coding bootcamps are scrambling to figure out how they can save their programs, after a California regulator slapped them with cease and desist letters ordering them to shut down, pay a $50,000 fine, and offer refunds to past students. The problem, according to the California Bureau for Private Postsecondary Education (BPPE) which sent the letters, is these bootcamps aren't technically private schools under the law. Since 2009, California has... (more)

Monday February 3rd, 2014

How To Not Get Pwn'd By The Daily Show - Peter Schiff Interview posted 02/03/2014, 4:41 AM (The Libertarian Republic)
[Category: Economy]
These are some of the headlines that have been ascribed to Peter Schiff after he made an appearance on the Daily Show Wednesday. Unfortunately, these sensationalized headlines have a problem; They’re completely untrue. The Daily Show’s obviously doctored interview with the financial analyst has been accepted by news agencies like The Huffington Post and The Daily Mail as absolute fact. It’s the job of a true journalist to get to the heart of an issue, not hone in on a divisive comment taken out ... (more)

Thursday January 30th, 2014

Government Punishes 11-Year-Old Girl For Selling Cupcakes Without Permission posted 01/30/2014, 6:37 PM (Police State USA)
[Category: Economy]
TROY, IL — An 11-year-old entrepreneur recently learned a lesson about the economics of living in a police state when her home-based cupcake business was closed-down by local bureaucrats.

When people started noticing young Chloe Stirling’s cake decorating skills, they started requesting she bake them orders for birthdays and holidays.  Her clever designs quickly turned into a childhood business venture, as her eager customers gave her money in exchange for birthday cakes and baked
... (more)

California Legalized Selling Food Made At Home And Created Over A Thousand Local Businesses posted 01/30/2014, 6:36 PM (Forbes)
[Category: Economy]
A government official appears at a man’s door. The man has been breaking the law: He has sold bread baked at home.

This isn’t a page from Kafka—it happened to Mark Stambler in Los Angeles.
... (more)

Beer Drone Viral Prompts Slap-down From Government posted 01/30/2014, 6:36 PM (Infowars)
[Category: Economy]
A popular beer company received a verbal slap-down from the government this week after it released a video depicting beer deliveries being conducted by flying drones.

The video, produced by Lakemaid Beer, quickly went viral on the internet. It shows a 12 pack of beer being attached to a small drone which then flies to a remote shack where some fishermen (and women) enjoy a cold one.

A press release accompanying the video described how the Minnesota-based compan
... (more)

Peter Schiff: 'The Daily Show' Is Intellectually Dishonest about the Intellectually Disabled posted 01/30/2014, 5:17 PM (Peter Schiff)
[Category: Economy]
From Peter Schiff:

When I accepted “The Daily Show”’s invitation to be interviewed about my opposition to a minimum wage increase, I knew that I was walking into a trap. But given how counterproductive I know such an increase would be to those the law proposes to help, I took the risk anyway.

Of the more than four hours of t
... (more)

Wednesday January 29th, 2014

'Daily Show' Runs Edited Hit Piece Attacking Peter Schiff: "Rich CEO Tells 'Daily Show' The 'Mentally Retarded' Are Maybe Worth $2 An Hour" posted 01/29/2014, 5:25 PM (InformationLiberation)
[Category: Economy]
"Rich CEO Tells 'Daily Show' The 'Mentally Retarded' Are Maaaybe Worth $2 An Hour," reads the headline from the Huffington Post.

Peter Schiff said on his show a month or so ago he was interviewed by The Daily Show. He said they spent an hour four hours asking him the same questions over and over again in slightly different ways to try to get some sort of flub out
... (more)

Government Regulation: The Most Dangerous Monopoly posted 01/29/2014, 5:22 PM (LearnLiberty)
[Category: Economy]

Everyone wants the items they buy to be safe to use or consume. Prof. Howard Baetjer of Towson University explains that when products undergo third-party certification processes to determine their safety, market forces are able to optimize the amount of testing conducted and consumers can use the information provided by certification firms to make their own decisions. It is difficult to say how
... (more)

Monday January 27th, 2014

Turning Their Backs on Sweden's Welfare State posted 01/27/2014, 3:41 PM (Per Bylund)
[Category: Economy]
As noted by e.g., Yahoo! News recently reported that Swedes are increasingly turning their backs on their globally lauded utopian welfare state. While very little known, Sweden’s welfare state “worked” through the early 1970s thanks to deliberately preserving capitalist institutions and expanding its scope ... (more)

DOJ Finally Going After The Criminal Materminds With Arrest Of 24 Year-Old Bitcoin Exchange Founder posted 01/27/2014, 3:41 PM (Zero Hedge)
[Category: Economy]
The US crackdown on Bitcoin has been long in coming, with ebbs and flows of enforcement as regulators have been unsure exactly how to proceed with dismantling the digital fiat alternative. This morning the ebb became a rising tide, after U.S. prosecutors announced charges against two men operating Bitcoin exchange businesses for attempting to sell $1 million worth of Bitcoin to users of the underground black market website Silk Road, which was shut down by authorities in September.... (more)
I hear he's being charged with running a successful start-up business out of the USSA. - Chris

NY Times Attacks Mises Institute posted 01/27/2014, 3:39 PM (Mises Institute)
[Category: Economy]
The New York Times, whistling past the financial graveyard, paused over the weekend to smear the Mises Institute, Ron Paul, our other scholars, hardcore libertarianism, and me. Why? Because our ideas and our youth movement are gaining real traction. It is in effect a compliment. They have never faced opposition like ours before, and Ron Paul’s tremendous resonance with young people has only made things worse from the Times’s point of view.... (more)

Sunday January 26th, 2014

Markets Are Falling, Which Means It's Time For The US To Bomb A Sovereign Nation posted 01/26/2014, 9:37 PM (Zero Hedge)
[Category: Economy]
After the worst week for the market in over a year, the US knows the drill. Must. Distract. Population. And if a drunk-driving, prepubescent Miley Cyrus Canadian lookalike on a work visa won't do the trick, then by all means resort to ye olde faithful - bombing the feces out of some "independent" nation. In this case Somalia. ... (more)

HSBC imposes restrictions on large cash withdrawals posted 01/26/2014, 9:37 PM (BBC)
[Category: Economy]
Some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it, the BBC has learnt.

Listeners have told Radio 4's Money Box they were stopped from withdrawing amounts ranging from £5,000 to £10,000.
... (more)
Furious Backlash Forces HSBC To Scrap Large Cash Withdrawal Limit

Friday January 24th, 2014

Holder Says Marijuana Banking Rules Coming Soon posted 01/24/2014, 4:13 PM (
[Category: Economy]
Attorney General Eric Holder said Thursday that the Obama administration would soon announce regulations that would allow banks to business with legal marijuana businesses. Financial institutions have been scared away from such businesses by the threat of legal action for dealing in the profits of a commodity still illegal under federal law.... (more)

Get Konnected with The Kronies Action Figures posted 01/24/2014, 4:12 PM (YouTube)
[Category: Economy]

From the Makers of the Keynes vs Hayek rap!

The Kronies are in action...Mandating, Tarrify-ing, Inflating, and Boondoggling their way to profits powered by their special konnection to the G-Force. Watch Big-G and his team stomp out competition!

Get Konnected at

Thursday January 23rd, 2014

Joe Rogan Interviews Peter Schiff posted 01/23/2014, 3:41 PM (YouTube)
[Category: Economy]

Peter Schiff is an American businessman, investment broker, author and financial commentator. Schiff is CEO and chief global strategist of Euro Pacific Capital Inc.

Judge rules Kan. sperm donor owes child support posted 01/23/2014, 3:38 PM (Associated Press)
[Category: Economy]
A man who provided sperm to a lesbian couple in response to an online ad is the father of a child born to one of the women and must pay child support, a Kansas judge ruled Wednesday.... (more)

Wednesday January 22nd, 2014

Wall Street adviser: Actual unemployment is 37.2%, 'misery index' worst in 40 years posted 01/22/2014, 12:08 PM (
[Category: Economy]
Don't believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud.

In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not
... (more)

Tuesday January 21st, 2014

Porn industry moves from LA to Vegas due to condom requirement posted 01/21/2014, 11:53 AM (YouTube)
[Category: Economy]

Hollywood has long been known for its movie stars... and its porn stars. But now the porn industry is flocking to a new location with less restrictions: Las Vegas. California voters approved a new law that requires adult film actors to wear protection during intercourse, but there is no such requirement in Nevada. RT's Meghan Lopez talks to Chanel Preston, an adult film performer, about the exodus from
... (more)

Monday January 20th, 2014

Germany Has Recovered A Paltry 5 Tons Of Gold From The NY Fed After One Year posted 01/20/2014, 8:28 AM (Zero Hedge)
[Category: Economy]
On December 24, we posted an update on Germany's gold repatriation process: a year after the Bundesbank announced its stunning decision, driven by Zero Hedge revelations, to repatriate 674 tons of gold from the New York Fed and the French Central Bank, it had managed to transfer a paltry 37 tons. ... (more)

Hacking expert David Kennedy says he cracked in 4 minutes posted 01/20/2014, 8:28 AM (Washington Times)
[Category: Economy]
The man who appeared before Congress last week to explain the security pitfalls of took to Fox News on Sunday to explain just how easy it was to penetrate the website.... (more)

Wednesday January 15th, 2014

The Level Of Economic Freedom In The United States Is At An All-Time Low posted 01/15/2014, 10:46 AM (Michael Snyder)
[Category: Economy]
Americans have never had less economic freedom than they do right now.  The 2014 Index of Economic Freedom has just been released, and it turns out that the level of economic freedom in the United States has now fallen for seven consecutive years.  But of course none of us need a report or a survey to tell us that.  All we have to do is open our eyes and look around.  At this point our entire society is completely dominated by control freaks and bureaucrats.  Our economy is literally being suffo... (more)

3 Absurd Reasons for Banning Drugs posted 01/15/2014, 10:46 AM (LearnLiberty)
[Category: Economy]

Did you know the war on drugs is founded on racist principles? Prof. Stephen Davies shows the historical thought process behind banning drugs. One of the main reasons drugs were banned initially is because people were concerned drug use would lead to interracial relationships. Can you imagine someone making that argument today? Yet it was a principle reason for some of the laws banning drugs th
... (more)

Marc Faber Warns "The Bubble Could Burst Any Day"; Prefers Physical Gold To Bitcoin posted 01/15/2014, 10:46 AM (Zero Hedge)
[Category: Economy]
"The Fed's policies have actually led to a lot of problems around the world," Marc Faber begins his discussion with Bloomberg TV's Trish Regan, especially "people in the lower income groups [who] spend say 30% of their income on energy, transportation, and so forth, electricity and gasoline." The Gloom, Boom & Doom Report author goes on to discuss everything ... (more)

Beanie Babies creator gets probation, no prison posted 01/15/2014, 10:44 AM (Associated Press)
[Category: Economy]
CHICAGO (AP) -- The billionaire businessman behind Beanie Babies was sentenced Tuesday to two years of probation, but no prison time, for not paying taxes on millions of dollars stashed in Swiss bank accounts, with the judge praising the toy magnate for his charity work. ... (more)

Planned Parenthood Got $540.6 Million in Government Grants in FY 2013 posted 01/15/2014, 10:45 AM (CNS News)
[Category: Economy]
Planned Parenthood’s net revenue increased 5% to total of $1.21 billion in its organizational fiscal year ending on June 30, 2013, according to its new Annual Report 2012-2013, and about 45% of that revenue--$540.6 million--was provided by taxpayer-funded government health services grants. - See more at: (more)

Monday January 13th, 2014

"Taxes Are Expropriation": Hans Hoppe Interviewed In Leading German Business-Weekly posted 01/13/2014, 1:28 PM (
[Category: Economy]
Below is an English translation of Professor Hoppe's interview by "Wirtschaftswoche", Germany's leading business-weekly. The interview covers various topics, including the business cycle, the nature of the state, anarcho-capitalism, taxation as expropriation, and the like.


... (more)

Friday January 10th, 2014

U.S. War on Poverty Failed While Global Poverty Declined 80%: Economic Liberalization Begets Prosperity and Equality posted 01/10/2014, 8:45 AM (Mary Theroux)
[Category: Economy]
50 years after LBJ declared a “War on Poverty,” the U.S. would do well to take a page from the global playbook--whereby economic liberalization and more open trade has resulted in an 80% decline in abject poverty since 1976.

The graphs below, taken from the National Bureau of Economic Research Working Paper, “Parametric Estimations of the World Distribution of Income,” surely ought to impress even the most avid central-planner:
... (more)

Thursday January 9th, 2014

Saxo Bank CEO Warns of Collapse Into "Totalitarian" Society posted 01/09/2014, 4:18 AM (Infowars)
[Category: Economy]
Saxo Bank CEO Lars Seier Christensen warns that excessive government regulation, overtaxation and a coming economic collapse are all setting the stage for a slide into an overtly “totalitarian” society.

In a blog post entitled, What is the broader relevance of Ayn Rand for society?, Christensen adeptly describes how the predictions of the author, most famous for her 1957 dystopian classic 
... (more)

Claim: 927 People Own Half Of All Bitcoins posted 01/09/2014, 4:12 AM (Business Insider)
[Category: Economy]
Finnish entrepreneur Risto Pietilä, an active member of on, has offered an estimate of just how severe this ownership imbalance could be.... (more)

Wednesday January 8th, 2014

Does a Minimum Wage Reduce Poverty? posted 01/08/2014, 5:50 AM (The Circle Bastiat)
[Category: Economy]
In a long and seemingly technical blog post on the Washington Post “wonkblog,” Roosevelt Institute fellow Mike Konczal suggests that raising the minimum wage will reduce poverty. He primarily relies on one meta study (Dube 2013, unpublished) to show that economists “do agree” “that raising the minimum wage would reduce poverty.”

Quickly reading throug
... (more)

Tuesday January 7th, 2014

Too Big to Pop posted 01/07/2014, 7:17 AM (Peter Schiff)
[Category: Economy]
Most economic observers are predicting that 2014 will be the year in which the United States finally shrugs off the persistent malaise of the Great Recession. As we embark on this sunny new chapter, we may ask what wisdom the five-year trauma has delivered. Some big thinkers have declared that the episode has forever tarnished freewheeling American capitalism and the myth of Wall Street invincibility. In contrast, I believe that the episode has, for the moment, established supreme confidence in ... (more)

China Destroys 6 Tons of Ivory in Landmark Move (Which Will In Turn Skyrocket The Price And Create An Even Greater Demand) posted 01/07/2014, 7:16 AM (ABC News)
[Category: Economy]
China destroyed about 6 tons of illegal ivory from its stockpile on Monday in an unprecedented move wildlife groups say shows growing concern about the black market trade by authorities in the world's biggest market for elephant tusks.... (more)

Is Colorado Pot Overtaxed and Over-Regulated Already? posted 01/07/2014, 7:16 AM (Reason)
[Category: Economy]

On New Year's Day, 2014, Coloradans lined up to purchase marijuana for recreational use. Legally.

While drug reformers across the nation are celebrating the beginning of the end of marijuana prohibition (Washington state also has legalized recreational marijuana and several other states are likely to legalize weed in the next few years), Coloradans are working out how exactly to
... (more)

Friday January 3rd, 2014

Beanie Baby Founder Facing Prison Because He Only Paid Some $1 Billion In Taxes, Should Have Paid $1.0055 Billion posted 01/03/2014, 5:06 AM (InformationLiberation)
[Category: Economy]
Ty Warner, the man behind the beanie baby phenomenon who made headlines last year for gifting a woman seeking a stem cell treatment $20,000 after she gave him directions when he was lost, managed to dodge some $5.5 million in taxes by hiding a portion of his income in a Swiss bank account.

After being ratted out, the U.S. government now wants to imprison him for some 46
... (more)

UK: Young people 'feel they have nothing to live for,' third have contemplated suicide posted 01/03/2014, 5:06 AM (BBC News)
[Category: Economy]
As many as three quarters of a million young people in the UK may feel that they have nothing to live for, a study for the Prince's Trust charity claims.

The trust says almost a third of long-term unemployed young people have contemplated taking their own lives.

Urgent action must be taken to prevent the young jobless becoming the young hopeless, it says.

The government commented that it was doing "everything possible" to help young people find work.<
... (more)

Title should read: Young people in the fascistic totalitarian collapsing west 'feel they have nothing to live for.'

The youth in China are extremely optimistic, %93 said they think their county's best days are still head. Only %41 of western Europeans said the same, and only %47 in North America. See this excellent speech on China's bright future for more.

Note the UK government's "solution" to this problem is more welfare. ...because if at first you don't succeed... - Chris

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Florida Cop Gets Schooled in Law After Harassing Man for Playing Rap Song, "F**k tha Police" - 12/16Second Video Sheds New Light On Allegations Of Misconduct Involving Denver Police Officers - 12/16US Supreme Court Allows Traffic Stop Searches When No Law Violated - 12/16Police Using Social Media Posts to Determine "Threat Score" of Suspects - 12/16High Profile Witness In Alleged Excessive Force Case Records His Own Stop And Arrest - 12/16IRS Drops Its Asset Forfeiture Case Against Owner Of Small, Cash-Only Restaurant - 12/16Congress Proposes Bill to Address the Problem of Immunity for Killer Cops - 12/16Psychotic Vegas Cop Filmed Beating Man For Filming In Viral Video Queitly Hired By Another Dept. - 12/17

Rialto, CA Police Made to Wear Cameras, Use of Force Drops by Over Two-ThirdsCop Who Karate Chopped NY Judge In Throat Gets Off Scot-FreeFlorida Cop Smashes Compliant Woman's Face Into Car -- "Maybe Now You Can Understand Simple Instructions"VIDEO: Lapel Cam Reveals A Day In The Life Of A U.S. Police Officer (Tasing, Beating, Breaking & Entering, Stomping On Heads... and Laughing About It)Caught On Tape: Officer Sucker Punches Inmate In Face, Files Report Claiming 'Self Defense'Insult Person On Twitter, Go To JailSWAT Team Brings TV Crew To Film Raid Against Threatening Internet Critic -- Raids Innocent Grandma InsteadCop Karate Chops NY Judge In The ThroatWhen the Right to Resist Becomes the "Duty to Submit"The Missing Lesson From Norway: Never Trust a Man in Uniform