A Libertarian Reacts to ‘What’s A Rigged Economy’, from AJ+

February 26, 2016
dena

I think Dena Takruri would make a good libertarian.

AJ+ and Now This are the new producers of hip, left-wing minute-news designed for the facebook attention span. It’s a brilliant format from which propagandists of all political stripes could benefit. I don’t really see a whole lot of short, flashy, hip-looking conservative videos ‘splaining the whole one-man, one-woman thing, or how to beat the terrorists with more military boondoggles.

Libertarians have Learn Liberty from the Institute for Humane Studies, but I don’t know if it has quite the same allure. The focus is more on economic theory than current events. Reason.tv produces short videos, but they are often kind of jokey. It’s not quite the same as a sweet, punchy AJ+ video, like the one I saw this morning about our rigged economy. Please watch this video now, and read my libertarian reaction below.  Read the rest of this entry »

Advertisements

Are Student Loans the Next Housing Bubble?

July 28, 2012

EconomicFreedom.org posted this astute video last month:

Yeah, I’ll vouch for that. This could be bad. We need governments out of these markets. We need governments to stop leading us all around by our noses with phony economic incentives. Only disaster results.


Bizarre Claim: Businessmen Don’t Create Jobs, Consumers Do

May 17, 2012

Bizarre Claim:

I can say with confidence that rich people don’t create jobs, nor do businesses, large or small. What does lead to more employment is a “circle of life” like feedback loop between customers and businesses. And only consumers can set in motion this virtuous cycle of increasing demand and hiring. In this sense, an ordinary middle-class consumer is far more of a job creator than a capitalist like me. 

Emphasis added. Full Article: The Inequality Speech That TED Won’t Show You (Oooh! TED censorship! How scandalous!)

The purpose of the claim, as I can tell, is to relieve any anxiety the reader may have felt about the government’s helping itself to people’s property:

That’s why our current policies are so upside down. When you have a tax system in which most of the exemptions and the lowest rates benefit the richest, all in the name of job creation, all that happens is that the rich get richer.

So, help yourselves, Washingtion! Help yourselves, America! Don’t worry. You won’t kill any jobs! ….Well, okay. Not so fast. Read the rest of this entry »


Some Bunch O’ Links: Possibilianism; Greece; Portugal; Unheeded Prophets; others….

March 6, 2012
  1. I’m going to suggest that the next time someone says, “Well, you should just ‘cowboy up’ and commit to a decision,” we can say, “You know what? What I’d rather do is geek out.” And the idea with geeking out is, I’m going to be creative and come up with new narratives. I’m going to be comfortable holding multiple possibilities in mind.”

    I think this is good advice for learning economics. Some pairs of theories directly contradict each other. In those cases, you gotta pick one. Other theories don’t directly contradict each other. These could both be held in mind, and neither should be dismissed until better explanations are uncovered. One might weigh them. One might favor one of the other, but the other can not be dismissed until it is directly contradicted.

  2. Last May, Portugal received a $104 billion bailout from the European Union and International Monetary Fund, in exchange for deep spending cuts and structural reforms. … After a decade of easy credit, Portuguese are scrambling to make ends meet.

    Government can not keep bailing out and inflating ad infinitum. Recovery is a process. As Peter Schiff said, “Sometimes medicine tastes bad, but you have to swallow it.” Also, what else is government doing to thwart recovery? The article says debt keeps rising despite cuts. Why?

  3. I found this episode of This American Life to be helpful. If that broadcast is to be believed, then the dumbest economic policy of all was letting that vampire state Greece into the Eurozone in the first place.

Read the rest of this entry »


Links for October 17, 2011: Protesters arrested for demonstrating inside of Citibank; Justice Scalia eschews federal drug prohibition; More economic myths.

October 15, 2011
  1. Well, this really happened (see video). The truth, however, did not stop such prominent blogs as Daily Kos and InfoWars from uncritically repeating the facially ridiculous claim that over twenty customers were arrested for nothing other then asking tellers to have their accounts closed. The blogosphere lit up in the meantime. By the end of the next day, two of my progressive friends on facebook had unquestioningly posted the fraudulent headline to their news feeds. Some people, it seems, will swallow, without a second thought, just about any accusation leveled against a corporation.

    Two days later, Daily Kos published the above clarification explaining exactly what happened inside the bank: a disruptive demonstration, and not an innocent series of business proposals. InfoWars, on the other hand is staying the course. It has published a new story called Big Banks Refuse To Let People Close Accounts, which not only reiterates the hideous libel, but alleges further that banks all across America are forbidding “people” (people who carry signs or bullhorns into the banks, that is) from closing their accounts. No shame.

  2. Come on, people. Let’s repeal federal drug laws and free up Scalia’s Wednesdays for golf. He needs it.

  3. Responding to each of Kevin Drum’s claims here will take a bit too long. I’ve begun a feature on this, which I hope to finish some time soon (I think I have three half-finished drafts cooking). Suffice to say here that Austrian economists have already presponded to these claims, and the Austrian presponses have been predictably ignored.

Posted from Diigo. The rest of my favorite links are here.


My Metal Motivation: Why Gold Is Here To Stay

October 8, 2011

'B' is for 'Bubble'

The word ‘Bubble’ is brought to you by the letter ‘B’.

These are the words of an anonymous critic on my facebook stream, confident that gold is in a bubble destined for collapse. I have taken to occasionally posting the spot gold price to keep it in my readers’ consciousness. My most recent post drew criticism for expressing continued support for gold despite its $375, 20% tumble of late September, 2011. My critic continued:

Havent you learned your bubble 101 from the 08 collapse? … Not quite sure your metal motivation, but it is obviously a freight train that cannot be stopped.

My critic studied business, works in finance, and follows the stock market. I studied mathematics and I’m a lawyer. I have no formal training in either economics or finance. I do not follow the stock market. Yet, I have positioned myself so that I must justify my continued support for gold. Have I learned my bubble 101 from the 2008 collapse? You tell me.  Read the rest of this entry »


Links for March 15, 2011: Backlog O’Links #1

February 13, 2011
  • One way to stimulate an economy is to get your foot off of it’s neck.

  • It is a crime, work? So I guess I’m a criminal. It is a crime to be working. lol.

  • I’m glad this point of view is getting out there. On one hand, I can see how the gold standard would constrain a growing economy. On the other hand, no, I don’t trust those people with the printing press.

  • Read the rest of this entry »