On Politics
A Failure to Integrate Values
The only region in the world that has proactively tried to incorporate western culture in its societies is East Asia — Singapore, Japan, Hong Kong, South Korea, and Taiwan. China, which was a grotesquely oppressed, poor, Third World country not too far in the past, notwithstanding its many struggles today, has furiously tried to copy the West.
Famous Greek philosophers: their thoughts are a cornerstone of Western culture. [PT]
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 COVID-19 looking for cells to infect
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 the “American branch” of the Austrian School of Economics was not only an accomplished economic theorist, but also a great historian and political philosopher, who provided us with highly valuable insights and critical rebuttals of what is considered established and “acceptable” opinion these days. [PT]
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]
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 banks to forever make up for bad policy elsewhere, that puts them in a trap. We’re a little bit in that trap today with rates so low around the world.”
Jamie Dimon having nightmares in his money bunker [PT]
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 general, when he was still among the quick – and seemingly in a good mood. [PT]
Photo via harpy.ir
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 like: in the year the Fed was established it took $3.80 to buy what $100 buy today – provided the government’s CPI data are actually a valid gauge of the dollar’s purchasing power. [PT]
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]
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 – and a thorn in the side of established taxi services. [PT]
Photo credit: uber.com
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]
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]
Great Moqueur
Poor Donald Trump. The Chinese won’t play ball with him. The Democrats are trying to impeach him. And now, other world leaders are laughing at him!
Mesmerized by his glorious radiance – the shepherd alights amid his flock. [PT]
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The Decline of the Third World
A Failure to Integrate Values The only region in the world that has proactively tried to incorporate western culture in its societies is East Asia — Singapore, Japan, Hong Kong, South Korea, and Taiwan. China, which was a grotesquely oppressed, poor, Third World country not too far in the past, notwithstanding its many struggles today, has furiously tried to copy the West. Famous Greek philosophers: their thoughts are a cornerstone of Western culture....
An Excellent Seasonal Buying Opportunity in Silver Lies Directly Ahead
Gold's Little Brother Today I want to put a popular precious metal under the magnifying glass for you: silver. Silver, often referred to as the "little brother" of gold, has a particularly interesting seasonal pattern I would like to share with you. Shiny large good delivery door stops made of silver – about to enter interesting seasonal phase. [PT] Silver's seasonality under the magnifying glass Take a look at the seasonal chart of silver. In contrast to a...
Austrian Theory and Investment
Realtime Charts
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