Having just read Chuka Umunna’s speech yesterday, I am sorry I was not able to make the debate. There is one particular fallacy underlying Labour’s rhetoric and this particular speech’s bluster: government cannot live forever beyond its means. Evidence I have presented elsewhere shows that the total tax burden has […]
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Operation Twisted Logic – Detlev Schlichter
Via Operation Twisted Logic, an article by Detlev Schlichter, author of Paper Money Collapse: The Folly of Elastic Money and the Coming Monetary Breakdown: … Like all state bureaucracies, the Fed is in fact struggling with problems that are predominantly of its own making. The Fed is the reason we are in […]
Read MoreThe greatest gift to the Greeks might be to let them go it alone – Telegraph
There comes a moment in any decent tragedy when the penny finally drops. The light breaks. The protagonist suddenly realises what a chump he has been – that he has somehow managed accidentally to marry his mother and kill his father – and that all his assumptions about his life […]
Read MoreInflation Is Here, and It Is Going to Get Worse – Frank Shostak – Mises Daily
A great lesson on inflation from Frank Shostak appears on mises.org, including this quote from Ludwig von Mises: Inflation, as this term was always used everywhere and especially in this country, means increasing the quantity of money and bank notes in circulation and the quantity of bank deposits subject to […]
Read MoreIncompetence at the Federal Reserve
Via The Cobden Centre, astonishing remarks from the Federal Reserve Inspector General, who doesn’t know who received trillions of dollars from the Fed:
Read MoreThe EU’s own Peter Principle?
Via Find out more about a career in the European Union – Telegraph: Of course – it’s not for the faint hearted. The work is challenging. The EU Civil Service is relatively small. From your first day, you can expect to have a decent level of responsibility – you will […]
Read MoreAlternatives to capitalism: Nikolai Bukharin on the division of labour
A favourite brought forward. Thinking about the pressures on capitalism — or rather, on the interventionism that passes for capitalism today — and on the alternative which was most comprehensively implemented, I discovered this recipe for chaos and failure from Bukharin: Under communism people receive a many-sided culture, and find […]
Read MoreConservativeHome’s Platform: Steve Baker MP: The EU is not yet beyond ridicule
Via ConservativeHome’s Platform: Steve Baker MP: The EU is not yet beyond ridicule: I enjoyed delivering a brief polemic against EU spending in yesterday’s debate on the 16th consecutive failure of the EU budget to pass audit. Over 90% of EU spending was “materially affected by error” but I shared […]
Read MoreCentral banking and the economic consensus condemned
Via The Cobden Centre: The absurd tragedy of our situation, explained brilliantly here (albeit in a US context), is astonishing. For a more formal corrective, see this primer.
Read MoreBond bubble burst will gut gilt investors, warns Merrill Lynch – Telegraph Blogs
Compare and contrast: Via Bond bubble burst will gut gilt investors, warns Merrill Lynch – Telegraph Blogs: Never mind what the Bank of England monetary policy committee says about interest rates on Thursday. One of the biggest wealth managers in the world is discretely warning its income-seeking clients to beware […]
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