Barbie Relic’s latest:
by Jeffrey A. Tucker
July 3, 2009
“For decades we've been told by sociologists that the real criminals in society are not muggers and murderers and rapists but rather ‘white-collars criminals’ who are capitalists sneakily stealing money using fancy finance. They are the ones who should be in jail.
“And so now, those educated by the sociologists, forever soft on real crime but oddly tough on financial crime, have their way, as the bourgeoisie cries out for vengeance against a guy whose sole victims were the rich people who were his own customers.”
Must-reads
The Extraordinary Evil of Bernie Madoff
by Bill Bonner
July 3, 2009
“But, what is the point of keeping Madoff in prison? He represents no threat. Rather than pay $30,000 per year to keep him locked up, we suggest that he be forced to do community service work. He should be pressed into service as the next head of the Federal Reserve after Ben Bernanke’s term expires in December. With Madoff in the big office, there would be no longer any illusions about what sort of bank the Fed is running.”
Inflation: What You See and What You Don't See
by Thorsten Polleit
July 2, 2009
“Those who hope that inflation will now come to an end — given that market is close to contracting circulation credit expansion and the money supply — implicitly express optimism that the government leviathan is on the retreat. Unfortunately, the latest developments — namely, increasing base money and the running up even bigger public deficits — don't support such a view.”
Auditing the Fed will Audit the State
by George F. Smith
July 2, 2009
“The Fed is a racket at heart, a con game writ large — what else can you call an organization with the exclusive privilege of printing money in the trillions and handing it over to friends? But if this is true, what does that say about the state, the organization that created and sanctions it?”
Must-views
Ron Paul on the Fed Power Grab 6-18-09
Must-buy
The Politically Incorrect Guide to the Great Depression and the New Deal
by Robert P. Murphy
“This book will show you what really happened, and arm you against the apologists for the federal juggernaut. It was big government -- in alliance with some members of big business -- that fueled the 1920s stock market boom and made the 1929 crash inevitable. It was even bigger government under Hoover and then FDR that kept tinkering with the market, delaying recovery, and leading us into the worst economic downturn in American history -- and it could happen again, if we’re guided by myth rather than fact.” [p. 3], 2009, <Buy>
Recent must-reads:
The Deflating Bubble by Doug French
July 2, 2009
“The Victorville demolition [of 16 new or partially built homes] is one of the most dramatic ends to a bad bet made during the housing boom, but abandoned developments have become an all-too-common sight in California. Nearly 250 residential developments totaling 9,389 homes have been halted across the state, according to one research firm.”
Price Fixing in Ancient Rome by Robert L. Scheuttinger and Eamonn F. Butler
June 20, 2009
“‘State intervention and a crushing fiscal policy made the whole empire groan under the yoke; more than once, both poor men and rich prayed that the barbarians would deliver them from it. In A.D. 378, the Balkan miners went over en masse to the Visigoth invaders, and just prior to A.D. 500 the priest Salvian expressed the universal resignation to barbarian domination.’ - Jean-Philippe Levy, The Economic Life of the Ancient World.”
Krugman Failure, Not Market Failure by Thomas E. Woods, Jr.
June 20, 2009
“These days it’s not particularly controversial to argue that artificially low interest rates, fostered by the Federal Reserve System since 2001, gave rise to the housing bubble and set the economy on an unsustainable path. And guess who was clamoring for those low interest rates around 2001?”
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