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The Many Collapses of Keynesianism
August 27, 2011
It should be obvious to everyone but the most dedicated adherent of Keynesianism that the stimulus did not accomplish its end. The combination of outright spending by Congress, the desperate schemes to reflate the housing market, the attempt to transfuse bleedi ...
Media Blackout: US in Yet Another Illegal War … in Yemen
August 26, 2011
How many wars are too many? Unnoticed in the press of larger events and obviously downplayed by the controlled Western media, the US and its allies are pursuing yet ANOTHER aggressive, illegal war – this one in Yemen. How aggressive is it? It is a full-on con ...
DB Briefs: Buffett's Love Affair with Banks? / Greek Fire Sale / China's Central Planning Miracle?
August 26, 2011
Staff Reports: Warren Buffett Invests $5bn in Bank of America. Bailout for Greece Falters Over Demand for Collateral. China's Biggest Banks Post Record First-Half Profits as BofA, RBS Stumble. ...
From Machan's Archives: The Deficit and the Tragedy of the Commons
August 26, 2011
Not unless the treasury stops allowing private projects to be funded from its coffers, confining itself to the support of bona fide public projects – the courts, the military, and police – will there be an end that avoids the perhaps greatest tragedy of the ...
Machine Intelligence – Will AI Become Autonomous?
August 26, 2011
Will AI (Artificial Intelligence) or SAI (Strong AI, a.k.a. Superintelligent AI) someday become autonomous (have free will), and if so how will this affect the Human race? Those interested in sci-fi have already asked themselves these questions a million times ...
DB Briefs: World's Richest Man Buys More NY Times / Secret NYPD CIA Operations Publicized / Europe Secures Libya Oil / Time to Sell Your Gold?
August 25, 2011
Staff Report: Slim Increases His Stake in NY Times. NYPD CIA Anti-Terror Operations Conducted In Secret For Years. France and Partners Prepare New Libya U.N. Resolution. Fools Gold: Some Gold Bulls Say Now's Time to Cash In. ...
There They Go Again
August 25, 2011
Picking up where they left off in 2008, the media is in the midst of a campaign to ignore and undermine the presidential candidacy of Ron Paul (they gave me even rougher treatment during my 2010 Senate run). Political pundits just do not know what to do with a ...
DB Briefs: The Depression Continues / Retribution For S&P Downgrade / Worst Home Sales In 50 Years / The Ron Paul News Blackout Continues
August 24, 2011
Staff Reports: 'Very Muted Growth' Coming for Next 10 Years: Faber. New Home Sales Fall, 2011 Could Be the Worst Year Yet. Head of S&P Rating Agency Steps Down. Obama in Close Race Against Romney, Perry, Bachmann, Paul. ...
Forty Years After the Gold Standard, Investors are Desperately Looking for Safe Havens
August 24, 2011
The US, as was to be expected, raised their debt ceiling once again. It was done without meaningful cuts in spending or tax increases. Subsequently, Standard & Poor's downgraded America's credit rating. The double dip recession in America is now official, with ...
There Is No Virtue in the Selflessness of the Left
August 24, 2011
This quote establishes the fundamental premise upon which all leftist revolutions and totalitarian regimes have rested their moral authority. That principle is the virtue of selflessness. Now, in everyday use the term "selfless" refers to an act of supreme kind ...
DB Briefs: Banking Elites Stole $1.2 Trillion Thanks to the FED / Is Ben Bernanke Insane? / Biden Tells China You Are Safe
August 23, 2011
Staff Reports: Wall Street Aristocracy Got $1.2 Trillion from the FED. Bernanke May Have to Go for 'Shock and Awe'. Biden: China's U.S. Assets Are Safe Despite Downgrade. ...
The Illusion of Safety
August 23, 2011
Recent incidents of violence in Norway and London have made us understandably uncomfortable here at home, as many fear that a worsening economy will lead to violence and unrest in American cities. This is why Congress must view the economy as its first priority ...
Paper Currencies Finally Redeemed for Gold
August 23, 2011
The basic unwillingness of politicians to face economic and financial realities has caused the United States and European Union to face currency collapse. The politicians are content literally to paper over the problem with massive amounts of newly printed curr ...
DB Briefs: Iran & Saudi Helped al-Qaeda / Gaddifi Is Finished / New Israel & Egypt Crisis / Swiss Franc Too Strong
August 22, 2011
9/11: al-Qaeda Didn't Act Alone. Zero Hour For Gaddafi. Nations Race to Defuse Crisis Between Egypt and Israel. Trouble in Paradise – Strength of Swiss Franc Roils Saint-Tropez and Other Cities Across Europe. ...
Political Hyperbole!
August 22, 2011
I am baffled by how critics of some Tea Party stars engage in rank hypocrisy. For example, they – such as many commentators on CNN-TV – have been claiming to be utterly shocked with former Texas Governor Perry's polemical answers to interviewers. He said, a ...
Juan Williams on Mainstream Media Bias, the Entitlement Culture and American Foreign Policy
August 21, 2011
Exclusive Interview: Daily Bell: Do you think that the US debt is unsustainable and that entitlement spending needs to be slashed? Juan Williams: It needs to be cut. I don't know about slashed, but it needs to be done in a compassionate and sensible way. The qu ...
Stop Clinging to False Hope and Face Reality
August 20, 2011
All week long we have been witnessing a breakdown in global markets, or perhaps better stated – general public confidence. Gee, why would that be, we wonder? Why is it that the general public is not so easily convinced that all will be okay? Where is the usua ...
DB Briefs: US Threatens Syrian Leader / The EU Needs More Centralization? / Gold's Irrational Rise?
August 19, 2011
Staff Reports: U.S. and Allies Say Syria Leader Must Step Down. A Shaken Europe Looks for Bolder Fixes. Gold Jumps to Record in Longest Rally Since 2007. ...
When Soviet Power Crumbled: The Failed Hard-Line Coup Attempt of August 1991
August 19, 2011
Twenty years ago, on August 22, 1991, I stood amid a vast cheering crowd of tens of thousands of people outside the Russian parliament building in Moscow, the capital of the Soviet Union. They were celebrating the failure by diehard Soviet leaders to undertake ...
Chavez Launches War Against US Dollar
August 18, 2011
Whoa! Hold the US dollar horses, folks... the global reserve currency game just got a whole lot more interesting. There is, in our humble opinion, a whole lot more to this story than just the repatriation of gold being held at foreign central and commercial ban ...
DB Briefs: Global Warming Meme Continues / Obama's Vacation Plans / Drugs & Price Controls
August 18, 2011
Staff Reports: Perry Says He Doesn't Believe in Global Warming. Obama's Dilemma: Should He Take a Vacation Now? Price-Gougers Hike Costs of Vital Drugs During Shortage. ...
Egoism & Benevolence
August 18, 2011
Individualism and self-esteem predispose one to benevolence. Why? Benevolence raises one's spirits. Benevolence promotes more harmonious relations. It helps create a superior, more life-serving social environment. Would you rather live in a society whose member ...
DB Briefs: Government Knows Best / Thai Rice Causes Inflation? / The Federal Reserve Is Necessary?
August 17, 2011
Staff Reports: AT&T Purchase of T-Mobile May Spur Regulation. In Rick Perry's World Without a Fed, He Can Barter for U.S. Votes. Asia Inflation May Rise With Thai Rice Price. ...
Gold and the New Awakening of Colombia
August 16, 2011
Today the sovereign debt and dollar crisis, plus rising energy and gold prices, are combining with Colombia's growing reputation for tourism, real estate investing and retirement to create an investment potential long delayed by past decades of civil unrest. Ma ...
DB Briefs: Ignore Bachmann's Success / Iowa Straw Poll Damaging? / Just Blame It on Addiction
August 16, 2011
Staff Reports: Despite Bachmann's Success, the Real GOP Race Is Now Perry vs. Romney. Iowa Straw Poll Damages Republican Prospects: Margaret Carlson. Addiction Now Defined As Brain Disorder, Not Behavior Issue. ...
S&P States the Obvious
August 16, 2011
Politicians did not get much time to pat themselves on the back for supposedly rescuing the economy with the debt limit deal last week. The ink was barely dry when Standard & Poor's downgraded the US debt ratings anyway, roiling world financial markets. Anyone ...
The Keynesian Non-Answer
August 16, 2011
The New Republic editorialized recently about the current economic mess and it is worth quoting because the central passage is largely non-hyperbolic, non-polemical: "The classic response to [our current economic] situation, put forth by John Maynard Keynes in ...
The Fix Is In
August 16, 2011
This week's wild actions on Wall Street should serve as a stark reminder that few investors have any clue as to what is really going on beneath the surface of America's troubled economy. But this week did bring startling clarity on at least one front. In its Au ...
Cynicism Versus Happiness
August 16, 2011
The other day, my wife and I were having lunch, and an acquaintance from our kid's school came by. The first words out of her mouth were: "How unusual, a husband and wife actually sitting together and talking with each other." The next day, talking with some pa ...
DB Briefs: SEC Goes After S&P / World Bank to the Rescue? / Death & Democracy in the Middle East / States to Embrace Online Gambling
August 15, 2011
Staff Reports: SEC Investigating S&P's Downgrade of U.S. Debt. Robert Zoellick: Global Markets Face a New 'Danger Zone'. Syria Unrest: 'Deadly Military Attack' on Latakia Port. Starved State Budgets Inspire New Look at Web Gambling. ...
The Big Corporations Excuse
August 15, 2011
Anytime I mention to someone from the Left that I consider the scope of government way beyond justice and prudence, I am likely to be told that it is big corporations that make this necessary.And, furthermore, they contend, I couldn't really favor liberty for a ...
Fables of the Fourteenth Amendment
August 15, 2011
The more I peruse the current public discourse about the application of the Fourteenth Amendment to the present quandary of public debt that confronts this country, the more I am convinced of the wisdom of the observation of the ancients that "Against human stu ...
Thomas Jacob on the New Swiss Gold Franc, Why the EU Is a Bad Idea and Why an IMF Managed Currency Would Be Tragic
August 14, 2011
Daily Bell: Please tell us about your idea for a gold franc. Thomas Jacob: Gladly. The idea is the result of my interest in free market economics and especially my conviction that a commodity money is the most effective way to curb government involvement in t ...
Rick Rule and Richard Maybury on Why More War is Likely, the Future of the US Dollar and Why Neither of Them Vote
August 13, 2011
Following the recent FreedomFest conference held in Las Vegas, Nevada, The Daily Bell had an informal discussion with two of the free-market world's more prominent figures, Rick Rule and Richard Maybury. Both men have been relentless in their efforts to educate ...
Krugman's Failed Analogy
August 13, 2011
Ok, so I'll give him this: finally Dr. Paul Krugman put forth something akin to an argument instead of merely demonizing those with whom he disagrees! (See his column, The Hijacked Crisis, The New York Times, August 11, 2011.) The argument, however, is an analo ...
DB Briefs: Europe Bans Shorters / Krugman Wants More Spending / CIA Defends Drone Killings
August 12, 2011
Staff reports: Four European Nations Ban Shorters as Markets Bounce Back. Paul Krugman: The Hijacked Crisis. C.I.A. is Disputed on Civilian Toll in Drone Strikes. ...
The Myth of Noble Madness
August 12, 2011
College freshman year abnormal psychology, at least as I remember it from some 30 years ago, can be something of a dark and frightening experience. In it the students are exposed to the variety of mental troubles that we have come to understand through modern d ...
Further Distortions of Libertarianism
August 12, 2011
In his essay "The Tea Party Jacobins," with its hyperbolic and besmirching title, Mark Lilla, whose The Reckless Minds: Intellectuals in Politics I once favorably reviewed, advances the notion that the Tea Party's "libertarian irruptions ... [attracted] individ ...
Central Bankers Race Toward Global Currency Solution
August 11, 2011
This Bloomberg article is just another in a long line of disappointing mainstream financial reports that does nothing to address the real issues causing the crisis and, in fact, does everything to try to misinform the public into believing that the experts have ...
DB Briefs: Cameron Blames Parents for London Riots / NATO Kills Libyan Civilians / S&P Attacked
August 11, 2011
Staff Reports: London Riots: David Cameron Approves Water Cannon. Tripoli Says NATO Strike Kills Dozens of Civilians. A Credit Rater that Overreacted and Overreached. ...
A Free-Market Sovereign Debt Manifesto
August 11, 2011
There is an eerie disconnect involved with analyzing the frightening financial and economic consequences of the ongoing 2011 Sovereign Debt and Equity Market Crash while sailing around the Greek Islands. But taking a look at Greek history clearly shows some par ...
DB Briefs: Housing Slump Over? / Obama's Super Congress / Give the Government More!
August 10, 2011
Staff Reports: End in Sight for Housing Slump? Reid Taps Sen. Murray to Co-Chair Debt Committee. Tough Decisions Ahead to Get AAA Rating Back. ...
Day of Reckoning
August 10, 2011
The trigger that apparently caused the market meltdown was the ever-so-slight suggestion from Standard & Poor's that the US government's fiscal health might not be all that it is cracked up to be. This was not a case of the little boy noting the emperor has no ...
Two Opposite World Views: Agency or Victimhood
August 10, 2011
What causes poverty and hardship? Is it scarcity – not enough stuff to go around? Or is it a result of violence and enslavement of one class of people by another? Your answer to this question will fundamentally determine whether your political allegiance is w ...
DB Briefs: Ignore the Market Meltdown / Public School Breakdown / NASA Awards? / Lunch Bag Madness
August 09, 2011
Staff reports: Amid Near-Meltdown in Monday Stock Markets, Advisers Urge Investors to Stay the Course. Cheating Report Confirms Teacher's Suspicions. Danger in the Lunch Bag. NASA Awards for Bright Ideas. ...
Super Congress a Gift to K Street
August 09, 2011
The Super Congress created by the recent debt ceiling increase deal is a typical example of something nefarious attached to a bigger bill that is rushed through Congress without giving Members ample opportunity to consider the full ramifications. This commissio ...
DB Briefs: UD Debt Downgraded / Asian Markets Fall / China Wants Global Currency / ECB Begins Market Intervention
August 08, 2011
Staff Reports: S&P Downgrades US Credit Rating to AA-Plus. Asian Markets Slip On U.S. Credit Downgrade. China Blasts U.S. Debt Problems, Urges New Global Reserve Currency. ECB Says Will "Actively Implement" Bond-Buying. ...
What's Happening on Wall Street?
August 08, 2011
In my view, the current downturn in the market is connected with the continuing fiscal crises in the United States and in Europe. In the case of the U.S., I think an important element is market awareness that the government's debt problem has been left complete ...
The Moral Defense of Capitalism
August 08, 2011
One reason that our founding principles are in such deep trouble today is that many years ago our parents and grandparents... and great grandparents, conceded to the enemies of freedom the moral high ground. Those advocating socialism, communism and fascism wer ...
Nine-Year-Old Discusses Monetary Inflation and What Is Wrong with US Foreign Policy
August 07, 2011
The Daily Bell is pleased to present this exclusive interview with a nine-year-old boy named Jesse. Jesse is a typical young boy who enjoys exploring ideas and concepts. He is an average student, who tends to enjoy recess more than doing classroom work. His tea ...
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