Squatting On The Shoulders Of Midgets

Notes from the Field

Date: December 6, 2012

Reporting From: Sovereign Valley Farm, Chile

Isaac Newton, the father of classical mechanics and progenitor of nearly every technology we use today, was easily one of the top 10 most influential minds in all of human history. So much so that even Albert [...]

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Keynesians Chortle in Their Joy

Now that Ben Bernanke continues to have a friend in the White House, all’s going to be well in the world- at least economically.  At least, that’s the impression large segments of the media is promoting.  

When any segment of the media and market participants are feeling so good about things that they appear [...]

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The Mess We’re In

“The genius of our ruling class is that it has kept a majority of the people from ever questioning the inequity of a system where most people drudge along, paying heavy taxes for which they get nothing in return.”

- The late Gore Vidal.

“It’s a mess, ain’t it, [...]

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Krugman Destroyed In Debate

This comes from Luis Martin of TrugmanFactor, a blog located in Spain that translates and publishes Daily Capitalist articles. You can skip the intro in Spanish and get to Krugman’s lecture (0:09:19). But the real stuff starts at  0:35:25 where Professor Pedro Schwartz responds to Krugman’s comments in excellent English. Professor Schwartz is a distinguished and [...]

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Nobel Prize Slashed As Foundation Takes Losses

This just in:

STOCKHOLM—The Nobel Foundation, under pressure to cut costs following sluggish returns on capital in recent years, is slashing the value of its prestigious prizes for the first time in 63 years while also looking to trim in other areas, such as expenses related to its annual banquet.

Winners of the 2012 Nobel [...]

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This Goldstein Economy

Krugman-in-Wonderland

Paul Krugman apparently sees the problems in the economy as a vast Republican Conspiracy to deprive Americans of economic prosperity. According to Krugman’s view of the world, if we want real prosperity, we have to raise taxes, borrow more money, put more public employees on the payroll, and bail [...]

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We’ll All Be Dead By The Time This Pays Off

This is what happens when politicians allocate your precious resources instead of letting the market decide where capital should be invested. This article from the Wall Street Journal discusses the failure of the government’s investment into batteries for electric vehicles. The outcome was inevitable. As you can read below, when faced with failure, bureaucrats then [...]

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Egos and Economists Who Yearn for the Nonexistent Past

Krugman-in-Wonderland

Not only does Obama’s Shill-in-Chief Paul Krugman have economics wrong, he has economic history wrong as well.

One of the constant themes of Paul Krugman’s writings these days, other than shilling for Barack Obama and Democrats in general, is the walk down memory lane to the nation’s idyllic past where tightly-regulated industries [...]

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Paul Krugman, Myopic Reactionary

Krugman-in-Wonderland

Everyone now knows about the infamous trading losses suffered recently by JP Morgan, but leave it to Paul Krugman to claim that a bank that operates within a heavily-regulated system somehow is “unregulated.” Oh, I know, Krugman actually is claiming that even Dodd-Frank does not regulate enough and that we need to “turn back [...]

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Professor Krugman, Where Is The Austerity?

This is from the Mercatus Center’s Veronique de Rugy:

We are told that austerity in Europe has failed. The elections in France and Greece, for instance, are supposedly evidence of people’s opposition to severe cuts in spending. However, the growing anti-austerity backlash against Europe ignores one fundamental point: If there is austerity in [...]

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Easy Useless Keynesianism

Krugman-in-Wonderland

When it became clear in 2007 and beyond that the housing bubble was breaking up and the bills for the national spending spree were coming due, the Bush administration shifted into “stimulus” mode. (It was nice getting an extra $2,100 in my checking account, but I defied the government and paid some bills instead [...]

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