Commentary

Understanding true credit and false credit

March 5, 2015
posted by

Frank Shostak Ludwig von Mises Institute
by Frank Shostak  

"There are two kinds of credit: that which would be offered in a market economy with sound money and banking (true credit), and that which is made possible only through a system of central banking, artificially low interest rates, and fractional reserves (false credit). Banks cannot expand true credit as such. All that they can do in reality is to facilitate the transfer of a given pool of savings from savers (i.e., those lending to the bank) to borrowers." (03/05/15)

http://mises.org/library/understanding-true-credit-and-false-credit  

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The melting pot meets the voting booth

March 5, 2015
posted by

Cato Institute Cato Institute
by Alex Nowrasteh and Sam Wilson  

"An enduring argument against reforming the immigration system is that new immigrants will become a solid voting bloc for the Democratic party and support liberal economic policies. Neither of these assertions is true. New evidence shows that immigrants have, or come to have, about the same political views as long-settled Americans. In a new paper published by the Cato Institute, we show that immigrants and their descendants are not more supportive of economic policies that favor big government, high taxes, or an increase in the size of the welfare state. Immigrants' political and ideological opinions will not shift American policy in a big-government direction." (03/05/15)

http://tinyurl.com/q3ep468  

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Hillary Clinton’s bad week won’t mean much by 2016

March 5, 2015
posted by

The New Republic The New Republic
by Danny Vinik  

"The revelation that Hillary Clinton used a home email system while she was Secretary of State -- which allowed her to permanently erase messages -- has sent the chattering classes of Washington into a frenzy. 'There is a widespread feeling, among political professionals and the commentariat, that Clinton, having chosen to delay the launch of her campaign, might be on the point of losing control of its narrative,' wrote the New Yorker's John Cassidy. Bill Scher, writing at Politico, and Emma Roller, writing at National Journal, mused about what would happen to the Democratic Party if Clinton drops out. Spoiler: It's not good. These are all reasonable arguments. Still, we have to keep things in perspective: Clinton is having a tough month and needs to put together a better communications strategy, preferably one that actually involves her talking to the press. Even so, she's not going to lose the primary and will be a very formidable candidate in the general election." (03/05/15)

http://tinyurl.com/lav3rga  

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Chavez’s legacy: Venezuela in shambles

March 5, 2015
posted by

Alvaro Vargas Llosa Independent Institute
by Alvaro Vargas Llosa  

"Nobody has lobbied Saudi Arabia to cut its oil output more intensely in recent weeks than Nicolas Maduro, Hugo Chavez's successor as Venezuela's dictator. Maduro already had major fiscal problems with the price of crude when it was at $107 per barrel back in June; it doesn't take a brilliant mathematician to calculate the effect a 45 percent drop is having on the regime's finances and popularity. Maduro's brand of Latin American populism rests on four legs: government control of the country's vast oil resources; clientelism (the system by which Maduro maintains the 'support' of the public by keeping them dependent on government handouts); a Cuban-designed police state and a geopolitical oil-exchange program in which Venezuelan oil is used to buy support from foreign governments in the region." (03/04/15)

http://www.independent.org/newsroom/article.asp?id=6315  

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Market-tested innovation

March 5, 2015
posted by

Don Boudreaux Cafe Hayek
by Don Boudreaux  

"Innovation is the act or process of coming up with new, creative ideas. And innovations are market-tested if their success or failure is determined through a process of voluntary choices: no one is forced to purchase, to use, or to fund an innovation; no one is prevented from purchasing, using, or funding an innovation; everyone who wishes to use his or her own resources to act innovatively, or to fund an innovation, is free to do so." (03/05/15)

http://cafehayek.com/2015/03/market-tested-innovation.html  

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“Vote Labour, get Lord Justice Leveson!”

March 5, 2015
posted by

spiked spiked
by Mick Hume  

"Monty Python's dead parrot John Cleese was not joking last week when he compared journalists to murderers at a rally in Westminster where, as reported on spiked, 'the hysteria and intolerance of Hacked Off were on full display.' Even worse than the ranting of the former funny man was the contribution to that rally of Labour's deputy leader, Harriet Harman, who nobody could ever accuse of cracking a joke. Harman's speech gave the official stamp of Labour Party approval to the hysteria and intolerance of the press-bashing lobby. Harman assured the select group of Hacked Off supporters gathered in Westminster that if Labour wins the UK General Election in May, it will not hesitate to impose the full system of state-backed regulation of the press proposed in Lord Justice Leveson's report." (03/05/15)

http://tinyurl.com/kjytxa7  

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Four reasons to raise women’s pay that should make men happy

March 5, 2015
posted by

Reuters Reuters
by Lynn Stuart Parramore  

"Equal pay for women doing the same work as men should be a no brainer because it's a matter of fairness. But this isn't just about sisters getting what they deserve or even a convenient political talking point. Equal pay helps everyone, and ever more Americans are voicing their concern about continued disparities." (03/05/15)

http://tinyurl.com/ptxtc5z  

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Obama’s proposed capital gains tax hike

March 5, 2015
posted by

Pamela Villarreal National Center for Policy Analysis
by Pamela Villarreal  

"Taxing the nonwage income of the wealthy is politically popular because it is assumed few people will be affected. President Obama's 2016 budget proposes an increase in the capital gains tax to 28 percent for couples earning $500,000 or more. This is estimated to increase revenue about $208 billion over 10 years. In his State of the Union address, Obama noted the Reagan administration established the same rate, as if to minimize the effects of the proposal. But the comparison is not apt; President Reagan lowered marginal tax rates during his tenure, and there was no Medicare tax on unearned income, as there is now. What would be the effect if the capital gains tax increased from its current 20 percent to 28 percent?" (03/05/15)

http://www.ncpa.org/pub/ba808  

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Adam Smith: Zen master

March 5, 2015
posted by

Sandy Ikeda Foundation for Economic Education
by Sandy Ikeda  

"According to Eckhart Tolle, the popular author of spiritual books including The Power of Now, happiness is only possible in the present, the now. Past and future are beyond reach, and so 'the present moment is all you ever have.' He writes: 'Nothing ever happened in the past; it happened in the Now. Nothing will ever happen in the future; it will happen in the Now.' His message isn't that we should forget the past or abandon planning for the future. Rather, he's expressing a psychological attitude consistent with many spiritual and religious traditions, Eastern and Western. Economists, Ludwig von Mises and Adam Smith among them, have written in similar terms about the meaning and significance of the Now." (03/05/15)

http://fee.org/freeman/detail/adam-smith-zen-master  

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Jim Bovard on Declare Your Independence with Ernie Hancock

March 5, 2015
posted by

James Bovard JimBovard.com
by  

"FreedomsPhoenix hellraiser-in-chief Ernie Hancock, the next mayor of Phoenix, had me on his radio show today. I always like to be on Ernie’s show because that’s the only place that people hear me and think that I am mellow." [various formats] (03/04/15)

http://tinyurl.com/o3l48dd  

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Freedom Feens, 03/05/15

March 5, 2015
posted by

Freedom Feens Freedom Feens
by  

"Newly minted Freedom Feens Dan Greene and Caity Greene from the Greening Out Podcast (Scotland) yack with Michael W. Dean about krokodil, nanny laws, The National Health vs. Obamacare vs. Michael Dean, good audio, FeenPhone, young love, Caity's one-woman show, seeing life as a movie, and why David Cameron is a liar a socialist and his feet stink. Plus he's a bum." [Flash audio or MP3] (03/05/15)

http://tinyurl.com/oahrphu  

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An open letter to anarcho-socialists

March 5, 2015
posted by

Everything Voluntary Everything Voluntary
by Kenny Kelly  

"Socialism is an economic system based on the collectivist ownership (e.g., co-ops, worker-management, the people as a whole, etc.) of the means of production (i.e., capital). Anarcho-socialism (a.k.a., social anarchism) is likewise, except ownership is voluntary, without a state. Different schools of thought make up this ansoc philosophy; such as anarcho-collectivism, anarcho-communism, anarcho-syndicalism, mutualism, libertarian socialism, left-libertarianism, and social ecology." [editor's note: Nice try but no cigar at trying to smuggle left-libertarianism into the category he defines - TLK] (03/05/15)

http://tinyurl.com/lmxk4c7  

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Reining in out-of-control government

March 5, 2015
posted by

David S. D'Amato Future of Freedom Foundation
by David S D'Amato  

"In Book II of his Two Treatises of Government, John Locke says 'that being all equal and independent, no one ought to harm another in his life, health, liberty, or possessions.' A towering figure in the Enlightenment, Locke is often called the father of classical liberalism, his Two Treatises standing fast as a key stanchion in the overall philosophical edifice of liberalism. We contemporary libertarians, the ideological defenders of private property and individual rights, regard this classical-liberal tradition as a central, even predominant, element of influence, the ancestor of the set of beliefs we still advocate. But despite the clear link between present-day libertarianism and classical liberalism, the two are not perfectly coextensive, presenting important and irreconcilable differences." (03/05/15)

http://fff.org/explore-freedom/article/reining-control-government/  

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Five steps to fixing Greece’s debt problem

March 5, 2015
posted by

LewRockwell.com
by Frank Hollenbeck  

"Greece should default on as much debt as possible. There is no benefit to meeting the EU halfway. The Greek government is currently running a primary surplus (or is very close to it) so it does not need EU funds to cover Greek government expenses. However, the Greek banks will not have sufficient funds to cover withdrawals (and thus prevent a bank run) once the European Central Bank (ECB) and the EU cut off funds." (03/05/15)

http://tinyurl.com/p2bm8tl  

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Can police training put the cuffs on racial bias?

March 5, 2015
posted by

CounterPunch CounterPunch
by Steve Early  

"Would-be police reformers face two challenges arising from these tragedies. One is preventing or punishing police misconduct that involves brazen acts of brutality or explicit racism of the sort documented in the just-released Department of Justice (DOJ) report on policing in Ferguson. The second and more difficult task is helping law enforcement personnel recognize unconscious biases related to race, gender, ethnicity, sexual orientation, and socio-economic status that may adversely affect their day-to-day job performance. To do the latter, some police departments are now embracing a new training curriculum that tries to promote 'fair and impartial policing' (FIP)." (03/05/15)

http://tinyurl.com/pz4xkjw  

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Heartland Daily Podcast, 03/04/15

March 5, 2015
posted by

Heartland Institute Heartland Institute
by  

"In this edition of The Heartland Daily Podcast, Managing Editor of Enivronment and Climate News, H. Sterling Burnett speaks with Robert Michaels. Michaels is a professor of economics at California State University in Fullerton, and is an expert on energy markets, energy regulation and electric power deregulation." [Flash video] (03/04/15)

http://tinyurl.com/oaj8yk4  

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Manslaughter by suicide

March 5, 2015
posted by

Timothy J. Taylor Authority!
by Timothy J Taylor  

"Suppose for a moment that you suggested to a friend who was getting on your nerves to 'tie this anchor to your foot and go jump in the lake.' Suppose further that he did exactly as you suggested; he went away and later tied the anchor you gave him to his foot and jumped into a lake. Suppose that he sunk to the bottom and drowned to his death. Would you be guilty of manslaughter? After all, you told him to do it, didn't you? You supplied the anchor to him, and he did it, didn't he? So you are responsible for his death, are you? The thought is preposterous, right? Wrong, say the government authorities in Fairhaven and Mattapoisett, Massachusetts. That's what is happening to 17-year-old Michelle Carter. She's charged with the crime of manslaughter for allegedly encouraging her friend to commit suicide. You see, the state wants to have it both ways. They're calling suicide manslaughter." (03/05/15)

http://authoritycon.blogspot.com/2015/03/manslaughter-by-suicide.html  

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America must reject Netanyahu’s war cry on Iran

March 5, 2015
posted by

Sheldon Richman Future of Freedom Foundation
by Sheldon Richman  

"Israeli Prime Minister Benjamin Netanyahu came to Washington this week to prepare the American people for war against Iran. Backed by American neoconservatives, the Israel lobby, and assorted other war hawks, Netanyahu insists that Iran intends to build a nuclear weapon and thus is an 'existential threat' to Israel. He has no confidence that President Obama will negotiate an agreement that once and for all will end Iran's alleged nuclear ambitions. Thus the prime minister's objective is nothing less than to wreck the current negotiations and push America into a regime-changing war against Iran. Netanyahu's narrative is a fabric of lies and omissions." (03/04/15)

http://tinyurl.com/ptx9alo  

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Law means what it says

March 5, 2015
posted by

USA Today USA Today
by Jonathan H Adler  

"The King v. Burwell challenge to the Affordable Care Act at the Supreme Court presents a straightforward case of statutory interpretation. The question is whether the law authorizes the issuance of tax credits in exchanges established by the federal government. The statute is clear on this point. Tax credits are available in exchanges 'established by the state,' and the federal government is not a state. Were there any doubt on this point, the law defines 'state' to mean one of the 50 states and the District of Columbia. The Department of Health and Human Services is not a state." (03/04/15)

http://tinyurl.com/q7hw5uy  

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The social contract is a master-slave contract

March 5, 2015
posted by

Garry Reed Libertarian News Examiner
by Garry Reed  

"Who wants us to sign yet another 'social contract?' The people who expect to benefit the most from it of course. These people are essentially two groups: * The ruling class that always and everywhere lives excessively opulent lifestyles at the expense of their subject populations after convincing their populations that they somehow magically signed a nonexistent contract * Members of the subject populations who explicitly sign on to the contract in the absolute belief that when their rulers begin redistributing wealth they will be the net winners, receiving more loot than is taken from them." (03/04/15)

http://tinyurl.com/l2d2xb5  

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Paul Krugman and the foundations of economic science

March 5, 2015
posted by

Don Boudreaux Cafe Hayek
by Don Boudreaux  

"Of course the market for human labor differs in detail from the market for other goods and services such as automobiles. Contrary to Krugman's suggestion, however, these differences do not render standard supply-and-demand analysis any less applicable to the market for human labor than it is to the market for automobiles. After all, the market for automobiles differs in detail also from the market for zucchinis, yet I doubt that Krugman would assert that such differences mean that the same supply-and-demand analysis used successfully to explain the workings of the market for automobiles doesn't work to explain the workings of the market for zucchinis." (03/04/15)

http://tinyurl.com/qat24rk  

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You too can prevent police brutality

March 5, 2015
posted by

The New Republic The New Republic
by Jamil Smith  

"Barack Obama's Justice Department undoubtedly has made race a more visible priority. Eric Holder, who will leave his post as Attorney General after his replacement is confirmed, has in the past six years opened more than 20 investigations into local police departments ranging from Albuquerque to Cleveland. But let’s not assume that Ferguson, Missouri and its 94%-white police department would have attracted the gaze of Holder and federal investigators had officer Darren Wilson not shot unarmed teenager Michael Brown to death last August, making the city a flashpoint of racial angst in a year full of them. Even the first black U.S. President and the first black Attorney General needed a push." (03/04/15)

http://tinyurl.com/nob9hw2  

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Silicon Valley Rising fights for worker justice

March 5, 2015
posted by

Dave Johnson Our Future
by Dave Johnson  

"There are not a lot of people in the space between Silicon Valley’s top and its bottom. One in three Silicon Valley workers cannot even afford to live anywhere within a one-hour drive. The regular three-bedroom house costs a million dollars and don’t even ask about the rents, ... but on the streets in working-class neighborhoods there are so many cars parked that you can barely pass -- because there are so many people and families crammed into the housing. And, of course, the traffic is terrible, but you have to use a car because public transportation is cut back due to tax-dodging by giant companies like those in Silicon Valley. The blatant lack of diversity in Silicon Valley companies is a big part of the problem." (03/04/15)

http://tinyurl.com/njztrcm  

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Why do European Muslim girls look to IS for marriage material?

March 5, 2015
posted by

Reuters Reuters
by Barbara F. Walter  

"Over the past few years, approximately 550 young Muslim women have left Europe to join Islamist groups in Syria and Iraq, often marrying fighters. Many are well educated, from middle-class families, born and raised in Europe. They do not appear to be deeply alienated from society or women who could be easily radicalized. Why would young women leave London, Glasgow or Vienna to join a group that is considered anti-woman in its policies and behavior? Why would they go to so much trouble to reach places where their freedom of movement and expression will, at best, be severely constrained? The reasons, according to analysts, are roughly the same reasons as for men. But something else is likely going on." (03/04/15)

http://tinyurl.com/nkl8vzt  

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Gun owners no longer willing to take it lying down

March 5, 2015
posted by

Vin Suprynowicz Vin Suprynowicz
by Vin Suprynowicz  

"The Commonwealth of Pennsylvania has long prohibited towns and cities from enforcing local firearm ordinances that impact the ownership, possession, transfer or transport of guns or ammo. But gun-rights groups have long complained that scores of municipalities ignored the 40-year-old prohibition by passing their own, piecemeal gun control enactments, which rarely got tested in court, The Associated Press reports. So a new state law went into effect in Pennsylvania at the start of the year, making it easier for gun-rights groups to challenge such illegal local ordinances. And it seems to be working." (03/04/15)

http://www.vinsuprynowicz.com/?p=2436  

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