Something To Read

I may not get to post today–if you are here because you are bored and looking for stuff to read, here’s an Australian free market Op Ed roundup:

President Obama’s nightmare economy
It doesn’t matter how low interest rates are, if there is too much political uncertainty about making profits then investment and spending will be severely curbed. Unfortunately the dismal expectations of business regarding Obama’s policies are founded entirely on reality. There is no escaping the fact that the Democrats are about to strike the US economy with a blizzard of costly regulations and a barrage of high taxes causing business to batten down the hatches

Is deflation really bad for the economy?
A fall in the money stock on account of the disappearance of money out ‘of thin air’ is great news for all wealth generating activities since the disappearance of this type of money arrests their bleeding. Since a fall in the money stock undermines various non-productive activities it slows down the decline of the pool of real savings and thereby lays the foundation for an economic revival

Exports cannot save the Obama economy
Expanding exports are neither a panacea nor a palliative. The real cure for the US economy is an economic policy based on a respect for free markets. And this just ain’t going to happen under the leftwing Obama

On Cuban television, Castro predicts nuclear war and the MSM yawns
The Cuban missile crisis is another event that should live in infamy. This was when Jack Kennedy and his Ivey League advisors sold out the Cuban resistance to the Soviets. Until today the U.S. has complied with her promise not to interfere with Castro and not to allow anyone else to interfere with Castro. After Kennedy’s death, his successor Lyndon Johnson assured us that he would keep the promise not to invade Cuba

The US is facing an Argentina-like economic crisis
Most Americans still do not realise how dangerous economic conditions really are. The situation has even imperiled the survival of the political class. Eventually, anything that extends their rule will be tried. It is not concern for you or the economy that is driving policy, but the preservation of power of an increasingly wounded power elite. Their survival is now driving policy. Unfortunately, what benefits them is generally harmful for the economy

The two Great Classes in contemporary America
“There really are two America’s: the ruling class and the country class (aka the patriotic class). The ruling class views the patriotic class as ignoramuses who are vicious, violent, racist, religious, irrational, unscientific, backward, generally ill-behaved, and incapable of living well without constant, detailed direction by their betters who — as Abraham Lincoln would have put it — need to be “ridden” for their own good

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2 Responses to Something To Read

  1. al says:

    interesting, thank you.

  2. David Foster says:

    The deflation link pretty much ignores the reality that deflation makes it much more difficult to service existing debt, and this is true for debt incurred for productive purposes…to acquire new machine tools and robotics systems, say…as for unproductive debt. The price at which you can sell your product is going down: true, your wage expenses and various other costs may be going down as well, but when you net it out there will be less operating margin…meanwhile, the principal and interest payments on the debt are *fixed*.

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