Economics

Happy Birthday, "Wealth of Nations"!

On this day in 1776, the Scotsman Adam Smith saw his monumental treatise on economics, "The Wealth of Nations" released. While Smith had some misapprehensions, such as still believing that the value of something was detrmined by how much work went into it (the correct view is that the CONSUMER determines the value of something), he was one of the first to articulate the idea that people in free association tend to work for their wants by making things that fulfill the wants of others. As Smith put it, society is driven by the "invisible hand" of self-interested parties serving the needs of each other in a free market of exchange. Thus, living standards are bettered through peaceful market exchange.

New Discovery: Medical Fascism Plan Can't Be Defunded for Years

Appearing on television on March 7, Michelle Bachman has revealed that the federal medical fascism law has WITHIN IT requirements that AUTOMATICALLY FUND HUNDREDS OF BILLIONS OF DOLLARS, regardless of whether the plan is "defunded" by a future Congress. This stunning news also includes the revelation that the law also gives the SECRETARY OF HEALTH AND HUMAN SERVICES UNLIMITED power to appropriate money, regardless of whether a new bill has been passed to do so. UNLIMITED.

We will expand out analysis of this in audio soon, to spread the word to audio subscribers.

Please visit this page for more information:

http://bachmann.house.gov/News/DocumentSingle.aspx?DocumentID=227338

Big PAY DAY for Employees of Outgoing Congress-hacks

But really, they're doing "the people's business", so of COURSE they should get more cash!

http://online.wsj.com/article/SB1000142405274870336280457618490397646511...

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Freddie Mac Posts ANOTHER Massive Loss - WHAT?!

No way? Are you kidding? How is it possible?

We'd better give 'em more money extracted by the feds through threat of force! It's for our own good!

 

http://hosted.ap.org/dynamic/stories/U/US_EARNS_FREDDIE_MAC?SITE=AP&SECT...

 

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FDA Knew of Tainted Baby Wipes

But that's okay, see, because if the agency only had MORE money taken from people, then it would be all better! How about we consider the fact that the FDA is a sham, harms more than it helps, is run through theft, and gives the public the false impression that there's a collossus out there protecting them from harm? It's a sham, and a shame people believe such nonsense.

http://www.msnbc.msn.com/id/41694606/ns/health-infectious_diseases/?GT1=...

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Federal, State and Local Debt Exceeds ENTIRE US ECONOMY

And this reporter is clearly trying to get us to laugh when he writes that "even deep cuts in spending won't completely change that for several years." Cute.

 

http://www.washingtonpost.com/wp-dyn/content/article/2011/02/20/AR201102...

 

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US Gubment Debt on Track to Exceed TOTAL US ECONOMY

Hear that sound? It's the sound of central banking, spending and coercion sucking away your savings... Enjoy the ride!

 

http://www.washingtontimes.com/news/2011/feb/14/debt-now-equals-total-us...

 

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IMF Discusses Plan to Replace Dollar As Reserve Currency

Gee, HOW long have we talked about this? Could it be that the Fed's inflation of the Dollar is POSSIBLY making people wonder about its buying power? Remember, the gubments of Chin and Russia have already tossed away the Dollar for bi-lateral trade. This next step seems inevitable, especially given the INTENSE price increases the monetary inflation of the Fed is beginning to inspire.

 

http://money.cnn.com/2011/02/10/markets/dollar/index.htm

 

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Yahoo News Claims Repubs Are Planning "Attack" on Fannie Mae...

The fact that Fannie Mae and Freddie Mac are unconstitutional entities that get our money from us whether we offer it or not, that seems unimportant to the writer. The fact that Fannie and Freddie create moral hazards by becoming consumers of bundled mortgage ecurities, thus inspiring banks to give risker home loans because they know they can sell their debt instruments to Fannie and Freddie, that's forgotten, too...

 

http://news.yahoo.com/s/dailycaller/republicanlawmakersbeginassaultonfanniemaeandfreddiemac

 

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Obama Admin Plans to Spend $53 Billion on "High-Speed" Rail

Now, remember, this is the same administration that just two weeks ago pledged to put a 'freeze' on all 'discretionary spending' (most of which is unconstitutional, by the way)...

 

And, of course, NO government-run rail system on the entire planet operates in the black. So, you do the math, Conspirators!

 

http://www.msnbc.msn.com/id/41021318/ns/business/

 

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Benanke Denies that Inflating Currencies Could Cause Higher Food Prices...

Does anyone actually take him seriously?

In a FREE market, supply rises to meet increased demand. But in a market manipulated by a central bank that issues the so-called "default" currency of the US Dollar, any nation tied to that Dollar will see its currency devalued as well. Egypt is one such case. Increased amounts of currency units means that each unit buys less -- hence, food, oil and other commodities are rising in price in the US, as they are in any nation tied to the US or any nation which has a central bank that has been behaving like the US Federal Reserve. It's very simple stuff!

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/830211...

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WSJ Does a good Job Hitting Potato-Head Gingrich

AND, they finally note a point we've brought up numerous times: that Gingrich LOVES that pinhead "futurist" Alvin Toffler. Ya know, the author of "Third Wave", who wants a une-size fits all super-government to cover the globe?

Yeah, THAT Alvin Toffler.

http://online.wsj.com/article/SB1000142405274870469800457610468293004401...

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The State of the Onion: AP Fact-Checks Obama's Speech

Much to their surprise, he couldn't really square his claims of "freexing discretionary spending" with his policy goals for more to be spent on roads, bridges, "green tech", and on and on...

http://finance.yahoo.com/news/FACT-CHECK-Obama-and-his-apf-989878074.htm...

Are YOU surprised?

We doubt it!

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Obama Executive Order on Regulation(Fascism) Means Nothing

Yes, please tell those unconstitutional agencies that work as a textbook definition of fascism to evaluate themselves according to popular, PC terms. That will help.

http://online.wsj.com/article/SB1000142405274870488130457609413289686258...

 

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Joe "Lotion-in-the-basket" Lieberman Re-intros Internet Kill Bill

And get this, the statists say that a new provision prohibiting ANY legal recourse to Executive branch action is GREAT!

WHAT?

And they want you to know that, in the event that bad elements might SHUT DOWN THE WEB, the PRESIDENT WILL HAVE THE POWER TO... SHUT DOWN THE INTERNET!

Check it out!

http://libertyconspiracy.podomatic.com/entry/2011-01-24T17_41_04-08_00

These peopl

Fed Shifts Accounting to Hide Insolvency

Nice trick.

Take a look. If a truly private industry did this, they would be out of business in about a week.

http://www.cnbc.com/id/41198789

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Obama Admin Gets Cozier with GE

Nothing like mercantilism to bring "good things to life", huh?

http://www.foxnews.com/politics/2011/01/21/obama-teams-ge-iran-palaver-p...

 

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Houston Stops Couple's Charitable Feeding of Poor

Yeah, there's nothing like encountering another story about how gubment blocks charitable, voluntary interaction.

We all know the old argument. "Ahh," say the bureaucrats and politicians. "But you see, the homeless aren't 'protected' from being fed food prepared by 'licensed' food preparers."

"Why don't you leave to their own devices the poor people who want help?" you might ask.

"Oh, no! We can't do that! People in need who are offered help are incapable of deciding for themselves, and we just can't trust free people to make safe food, either."

"So you're saying that individuals are too daft to make their own decisions about the relative risks and benefits involved with an action?"

"Yep," say the gubment folks.

NJ Town Brings Back Eminent Domain Abuse

Of course the entire concept of "eminent domain" is abusive. It doesn't matter whether the land is being taken for a "public use" or to hand it over to a private interest for higher tax receipts. Theft is theft; the sanction of the gubment doesn't make it right, and the final outcome is irrelevant to the fact that the taking is always wrong.

http://www.huffingtonpost.com/christina-walsh/nj-town-revives-eminent-d_...

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