Americans will be celebrating Memorial Day this weekend, to honor those who fought and died for the values they have traditionally cherished the most as a nation: life, liberty and the pursuit of happiness. The world has changed dramatically in recent decades. The geopolitical situation is much more complex, with rising powers challenging America's supremacy. The intractable war on terror seems interminable. Old foes appear to spring back to life even more powerful than before. And things at home look dicey in terms of politics and economics. As we reflect upon the ultimate sacrifice that others have made, it is an opportune moment to consider a very important question: is the US winning the fight for freedom?
The problems we face cannot be fixed with policy tweaks and minor reforms. Yet policy tweaks and minor reforms are all we can manage when the pie is shrinking and every vested interest is fighting to maintain their share of the pie. Our failure stems from a much deeper problem: we optimize what we measure. If we measure the wrong things, and focus on measuring process rather than outcome, we end up with precisely what we have now: a set of perverse incentives that encourage self-destructive behaviors and policies.
If libertarians lose on the inflation issue, they are threatened with the loss of every other issue. If libertarians could win the inflation issue, they could come close to winning everything else. If they could succeed in halting the increase in the quantity of money, it would be because they could halt the chronic deficits that force this increase. If they could halt these chronic deficits, it would be because they had halted the rapid increase in welfare spending and all the socialistic schemes that are dependent on welfare spending. If they could halt the constant increase in spending, they could halt the constant increase in government power.
This is what happens when politicians think they are smarter than the great unwashed whom they rule over.
"I wouldn't know the man if he sat in the chair next to me..." Then explain this...
Federal investigators revealed another blow to Detroit Public Schools this week. Meet Carolyn StarkeyDarden - the system’s former grant-development director - who has just been charged on suspicion of obtaining nearly $1.3 million by lying about children’s tutoring services. As The Burning Platform's Jim Quinn rages, this is called the “No School Administrator Left Behind” Program.
Five Austrian voting districts are being investigated in Austria over postal vote irregularities in the close-run presidential election, the interior minister has announced. Allegations of fraud arose from the far-right Freedom party of defeated candidate Norbert Hofer, after the Green candidate Alexander Van der Bellen just scrapped ahead with 31,000 votes when the postal ballot was counted.
Pity the poor petro-states. Once so wealthy from oil sales that they could finance wars, mega-projects, and domestic social peace simultaneously, some of them are now beset by internal strife or are on the brink of collapse as oil prices remain at ruinously low levels. At the peak of their glory, the petro-states played an outsized role in world affairs. That, of course, was then, and this is now. While these countries still matter, what worries these presidents and prime ministers now is the growing likelihood of civil violence or even state collapse.
The SEC is taking a new approach to uncovering nefarious dealings within the financial markets: bar hopping.
The only way to understand inflation is through the prism of FX, and consumer goods.
The mob actions and growing madness of the extreme left, instigated and in some cases funded (Ferguson, Missouri) by elitists like George Soros is going to force conservatives into a position of armed reaction. It is only a matter of time. And perhaps this is what the elites prefer — Americans fighting and killing other Americans while they sit back and enjoy the show. After all, the failure of America is a perfect justification for the greater influence of globalism to stem the tide of “nationalist fervor.” And in a totally globalized and collectivized world, conservatism has no place.
Since the turn of this century, debt-financed share buybacks have severely tested the character of those charged with growing publicly-traded U.S. firms. Should she ignore the potential for further QE-financed share buybacks to exact more untold economic damage, it would be akin to intentionally corrupting Corporate America. The time, though, has come for these wayward companies’ banker and enabler, the Fed, to hold the line, no matter how difficult the next inevitable test of their character may prove to be. It’s time for the Fed to defend the entire Union and end a civil war that pits a chosen few against the economic freedom of the many.
If the state/central bank attempts to create capital by printing or borrowing money into existence, private capital will flee because the writing is on the wall: the currency and economy are doomed. You can create currency out of thin air, but you can't create sound money out of thin air or real capital out of thin air. If the state/central bank surrenders the money-printing press, and accepts the limitations of a currency it can't print into hyper-inflation, then private capital will enter the economy because it can trust that the currency can't be devalued by politicos or the central bank.
A real-estate firm that has been a favored investment of Sen. Bob Corker, R-Tenn. is under investigation by federal law-enforcement officials for alleged accounting fraud. The FBI and the SEC are focusing their examination of CBL & Associates Properties on whether officials at the Chattanooga, Tenn., company falsified information on financial statements to banks when applying for financing arrangements. The FBI and SEC are also inquiring into the trades of Bob Corker who has made millions of dollars in profits trading the company’s stock in recent years
The news unfortunately just keeps getting worse for customers and creditors of Northwest Territorial Mint. The prominent bullion dealer located near Seattle, Washington filed for bankruptcy court protection at the end of March. The losses of customers who never received delivery of orders plus the losses of other creditors could be as high as $50 million, according to news reports.