Friday , April 3 2020
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Tag Archives: On Politics

The Corona Virus Epidemic – Going Global

    Containment Fail We want to share a few observations about the growing COVID-19 epidemic, based on what we have seen so far. It has been obvious for a while now that the attempt to contain the spread of the virus has essentially failed. Ever since case numbers started to soar in South Korea, Italy and Iran, it was clear that hopes that the outbreak would remain confined to China were misplaced.   Doubleplus-ungood micro-organism...

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The Constitution IS the Crisis

    A Review of Murray N. Rothbard’s Conceived in Liberty, Vol. 5 Holy Writ The posthumous release of Murray Rothbard’s fifth volume of his early American history series, Conceived in Liberty, is a cause of celebration not only for those interested in the country’s constitutional period, but also for the present day as the nation is faced with acute social, economic, and political crises. Murray Rothbard, the foremost representative of...

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The Triumph of Madness

    Historic Misjudgments in Hindsight Viewing the past through the lens of history is unfair to the participants.  Missteps are too obvious.  Failures are too abundant.  Vanities are too absurd.  The benefit of hindsight often renders the participants mere imbeciles on parade. The moment Custer realized things were not going exactly as planned. [PT] Was George Armstrong Custer really just an arrogant Lieutenant Colonel who led his...

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The Impulses of Lunar Fed Policy Under Repo Madness

  Trepidation Nation This week, while you were busy working, Jamie Dimon, CEO of JP Morgan Chase, took time out from rubbing elbows with fellow movers and shakers at the World Economic Forum in Davos, Switzerland, to share his trepidations: “The only thing I have trepidation about is negative interest rates, QE, and the diversion between stock prices and bond prices and yield and stuff like that…  I think it’s very hard for central...

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Geopolitical Shocks and Financial Markets

  Involuntary Early Retirement of a Middle Eastern General The procession of news through the week – namely that chronicling the aftermath of the targeted drone strike and killing of Iranian General Qasem Soleimani – advanced with an agreeable flow.  The reports at the start of the week were that Orange Man Bad had spun up a Middle Eastern mob of whirling dervishes beyond recall. World War III was imminent. The recently expired...

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How the Fed Robs You of Your Life

  Fiat Currency Rankings – From Bad to Worse Today, as we step into the New Year, we reach down to turn over a new leaf.  We want to make a fresh start.  We want to leave 2019’s bugaboos behind. But, alas, lying beneath the fallen leaf, like rotting food waste, is last year’s fake money.  We can’t escape it.  But we refuse to believe in its permanence. This is what “monetary stability in the Fed-administered fiat money regime looks...

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Real High Crimes and Misdemeanors

  World Class Entertainer in the Cross-Hairs Christmas is no time to be given the old heave-ho.  This is a time of celebration, redemption, and excess libation.  A time to shop ‘til you drop; the economy depends on it. Don’t get us wrong.  There really is no best time to receive the dreaded pink slip.  But Christmas is the absolute worst.  Has this ever happened to you? The verdict: Orange man bad! [PT] Well, believe it or not, this...

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Spitting in Uber’s Soup

  Disrupted Disruptor – Legal Setback Sweepstakes It seems Uber just can’t catch a break these days. First its license to operate in London was revoked. At issue was apparently that 43 unlicensed drivers were able to take an estimated 14,000 “unauthorized trips” due to a flaw in the Uber app (note that 45,000 licensed Uber drivers are working in London) . Uber’s service has become an important part of London’s transport infrastructure...

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Banana Republic Money Debasement In America

  Addicted to Spending There are many falsehoods being perpetuated these days when it comes to money, financial markets, and the economy. But when you cut the chaff, three related facts remain: Uncle Sam needs your money. He needs a lot of your money. And he needs it bad! The inescapable logic of tax & spend: empty vault… empty pockets… gimme more! [PT] According to the Congressional Budget Office, the federal budget deficit for...

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Every Bubble Eventually Finds its Pin

  Panem et Circenses The transfer of wealth from workers and savers to governments and big banks continued this week with Swiss-like precision. The process is both mechanical and subtle. Here in the USA the automated elegance of this ongoing operation receives little attention. Give them bread and circuses and they will never revolt… so said Juvenal, reportedly [PT] NFL football. EBT card acceptance at Del Taco. Adam Schiff’s...

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