The opinion essay that begins in the third paragraph below was published on August 7, 2018 in The Australian, the most widely circulated daily newspaper in Australia. Continue reading
The Agony of Venezuela–from democracy to tyranny, hunger, sickness, and ruin–and a way back from the catastrophe
The misery and plight of the people of Venezuela in the second decade of the 21st century is virtually beyond belief and unimaginable for most residents of the United States. Continue reading
The current President of the U.S. has imposed tariffs on imported steel and aluminum effective March 23, 2018 and proposes tariffs on products imported from China. Continue reading
On May 7, 1915, 1,198 people perished in the sinking of the British ocean liner Lusitania, in a totally preventable act of war.
The subject of global warming has evoked differing opinions among scientists and citizens on the proposition that human activity is causing dangerous warming of planet earth. It is said by proponents of that proposition that the science is settled, and that there is a consensus of scientists in favor of the proposition.
Contrary to the assertion that the science is settled on this issue, there are numerous scientists who differ with the proposition. Continue reading
In their acceptance speeches at the respective political party conventions in 2016, the problem of unfunded liabilities for social welfare programs, primarily Social Security and Medicare, was not mentioned by either of the candidates for the office of President of the United States. Other than avoiding war and defending against terrorism, there is no bigger issue and problem for the American people. Where is the leadership? Why will neither of the two nominees for election as President say anything about the unfunded liabilities of the United States for social welfare programs? Continue reading
This is follow up to the original post entitled The Voyage of Laura Dekker, posted here on September 2, 2014. Continue reading
The Washington Post reported in 2014 that under U.S. and state laws, in a federal program known as “Equitable Sharing,” since 2001 state and local police have seized $2.5 billion from people who were not charged with a crime. 1 Continue reading
- Reported in “Stop and seize: Aggressive police take hundreds of millions of dollars from motorists not charged with crimes,” by Michael Sallah, Robert O’Harrow, Jr.,and Steven Rich, Washington Post, September 6, 2014, 2 http://www.washingtonpost.com/sf/investigative/2014/09/06/stop-and-seize/# ↩
Reproduced below is a recent article from the New York Times about the Internal Revenue Service program of seizing bank accounts of people who are never charged with any illegal act—except making too many cash deposits of less than $10,000. Continue reading
In August 2009, a thirteen year old girl, Laura Dekker, announced her plan for a two-year solo ocean sailing voyage around the globe to begin the following year. Solo sailing voyages around the world had been done before. However, it was Laura’s goal to become the youngest person to sail alone around the world. Continue reading
America is a true world country, made up of people from every other country. America is unique in its rapid acceptance of immigrants who are readily assimilated into the population with no stigma or ill will attached to their foreign origins, although perhaps Australia is not far behind America in welcoming immigrants. Continue reading
“Pay Your Bills by Mail,” is a neatly printed bumper sticker on U. S. Postal Service (USPS) trucks, as of summer 2014. A sticker like that does not appear on USPS trucks at the whim of an individual mail carrier. It must be the product of a decision in management of the USPS. Continue reading
Many people believe that protecting the safety of the public is an indispensable service of the state that cannot be provided by free and private enterprise; and that the state protects safety in health care by licensing and regulating physicians, dentists and other health care providers such as hospitals. Unfortunately, government regulation does not work that way, as illustrated in the following example of federal regulation of hospitals. Continue reading
The Los Angeles Times reported on August 1, 2014 that members of “militias” are patrolling the U.S. Mexico border on private lands at the request of the landowners. See “Militias patrolling Texas border draw scrutiny, concern,” by Molly Hennesy-Fiske, Los Angeles Times, August 1, 2014. 1
On July 26, 2014 we published a new chapter of Capitalism: The Liberal Revolution (CTLR), entitled Credit and Reputation, https://www.capitalismtheliberalrevolution.com/chapter/credit-and-reputation/
On July 29, 2014 we noticed a column in the Los Angeles Times directly relevant to part of the CTLR chapter on Credit and Reputation. The Los Angeles Times column is “In the front seat at the ride-sharing revolution,” by Sandy Banks, Los Angeles Times, July 29, 2014, http://www.latimes.com/local/la-me-0729-banks-uber-lyft-20140729-column.html Continue reading
In a prior post we pointed to the Federal Reserve System (the Fed) as the engine of inflation and the source of repeated booms and busts. See “Inflation, booms and busts, their pathology and their cure,” at https://www.capitalismtheliberalrevolution.com/blog/inflation-booms-and-busts-their-pathology-and-their-cure/
In this post, inspired by responses of readers of the prior post, we augment our comments about the Fed and the U.S. banking industry as follows.
Never in history has a country that financed big budget deficits with large amounts of central-bank money avoided inflation. The Federal Reserve (the Fed) has been creating enormous amounts of money for years. The Fed is playing with fire, risking enormous price inflation in its efforts to stimulate the economy and avoid deflation. Inflation in producer and consumer prices always starts with and is caused by a preceding inflation in the supply of state fiat money. 1 Continue reading
- For a discussion of state fiat money and inflation see Chapter 21, Money, in the book/website to which the blog is a companion, at https://www.capitalismtheliberalrevolution.com/chapter/money/ ↩
National socialist political actions have been the ruination of Argentina. The Peronist political party is a parasite which has attached itself to the Argentine nation and continually eats away at the economic life of the people. Argentina, like Venezuela, is an extreme case of the political pathology which affects even as vibrant a society as America. Continue reading
David W. Harvey is a professor at The City University of New York. He is an avowed Marxist. The Wikipedia biography of Dr. Harvey states that in 1961 he was awarded a Ph. D. degree by Cambridge University. His field of teaching is anthropology and geography. According to the Wikipedia biography of Dr. Harvey “. . . he positioned himself centrally in the newly emerging field of radical and Marxist geography.” Continue reading
The official motto of the police department of the City of Los Angeles is “To protect and serve.” 1 The Mission Statement of the Santa Barbara County Sheriff states that “We, the members of your Sheriff’s Office . . . are committed to protecting persons and property.” 2 Unfortunately, neither the Los Angeles police nor the Santa Barbara sheriff, nor police in any other city or town in America actually have shown that they can protect people from harm. Continue reading
- See “Origins of LAPD Motto,” http://www.lapdonline.org/history_of_the_lapd/content_basic_view/1128 ↩
- See http://www.sbsheriff.org/missionstatement.html ↩
On May 17, 2014, Lufthansa, the flagship German airline, suspended ticket sales to Caracas, the capitol of Venezuela, joining ten other airlines that have taken similar actions due to Venezuela’s currency controls. As of April, international airlines had an equivalent of US $3.9 billion stuck in the rapidly depreciating bolivar, the Venezuelan monetary unit. The $3.9 billion cannot be taken out of Venezuela because of the Venezuelan state’s currency controls. Continue reading
“Prediction is very difficult, especially about the future”—Niels Bohr
The quotation from the great physicist Niels Bohr begins this post, as acknowledgment that the forward-looking statements below include both explicit and implicit predictions of rising inflation and a corresponding rise in the market value of assets that cannot be inflated in quantity by the actions of the state in debasing its monopoly supply of money. In the view of the author of this post the predictive problem is not whether, but when Americans will see large-scale price increases due to the federal state’s manipulation of its monopoly supply of money. Continue reading
We know very well a married couple who traveled in spring 2013 to vacation in Ireland and England. While on the first part of their trip, in Ireland, each of them contracted a bad case of influenza, part of the flu epidemic of 2013, which is considered the worst in recent history. The symptoms started with a sore throat and headache followed by a runny nose and significant fever combined with extreme fatigue that made even getting out of bed a chore. Continue reading
In our blog post of March 22, 2013, entitled “Your Money and Your Life,” we said that the U.S. Congress, the Department of the Treasury, and the Federal Reserve are pursuing a policy of debasing the U.S. dollar. The continuous debasement of the U.S. dollar propels a long-term upward movement of the dollar price of real assets—that is assets such as precious metals, petroleum, and shares of companies that are called “real” in contradistinction to paper money created by the state. Continue reading
Following the introductory comments in the first two paragraphs immediately below, there are quotations from “When North Korea roars, South Korea yawns,” by Jung-yoon Choi and Barbara Demick, Los Angeles Times, April 6, 2013. Sub-title: “Decades of living next door to an erratic, menacing neighbor have made the South nearly deaf to the saber rattling.” Continue reading
In recent years there has been a plethora of negative articles about America. The tenor of these articles is that America is not what it once was; that America is on a downward trend in global influence and prosperity; that economic disaster lies ahead for America. Continue reading
In the book of which this blog is a part, Capitalism: The Liberal Revolution (CTLR), the discussion of freedom would be incomplete without a discussion of money, for which a full chapter would be appropriate. Such a chapter is planned. Continue reading
John Mackey is the co-founder of Whole Foods Markets, which has grown from a single store in Austin, Texas in 1978 to a group of 343 stores in the United States, Canada, and the United Kingdom. The Harvard Business Review Press has just published a book by John Mackey and co-author Raj Sisodia entitled Conscious Capitalism. Continue reading
In the just concluded presidential election campaign in the United States, the candidates and their party allies spent a combined $2 billion according to a report on Reuters on November 7, 2012. Journalist Bob Woodward has published a book entitled The Price of Politics (2012). The $2 billion of spending by the presidential candidates is just the tip of the iceberg represented by the idea behind the title “The Price of Politics.” Continue reading
Whether Americans have cause to give up on the historical American dream of an ever better future is the subject of the cover story by Jon Meacham in the June 21, 2012 issue of Time magazine. Continue reading
People exposed to the ideas of this website—that everything in society should be on a voluntary, non-coercive basis–sometimes ask how, without the state and taxation, education would be provided to children of impecunious families. Continue reading
“Rotating outages” of electricity happen routinely in third world countries. Now parts of the U.S., including Southern California, are in danger of periodic loss of electricity for extended periods of time. Southern California Edison is notifying its customers to “start planning now for potential rotating outages [which] can occur whenever SCE is urged by state officials to reduce the energy load.” Continue reading
Federal election 2012 in America: both political parties are incompetent to solve the financial problems of the U.S.
A YouTube presentation [link below] shows that all the taxes the U.S. federal state will collect in the year 2012 are used up by mandatory entitlement programs (Medicare, Social Security, etc.) and interest on the national debt. So Congress has no recourse but running a $1.3 trillion deficit to pay for everything else the federal state does. Continue reading
Jay Snelson spent many years compiling material and marshaling his ideas for a book which has just been published: Taming the Violence of Faith: Win-Win Solutions for Our World in Crisis (2011). Although the copyright date is 2011, actual printing and distribution occurred only in mid-2012. The book may be purchased from Amazon.com and Barnesandnoble.com Continue reading
We reproduce below a letter from Jeff Herman of Bell Canyon, California to the editors of The Wall Street Journal published online on August 1, 2012 and in the print version, Opinion section, on August 2, 2012. It is published here as it is about as clear a statement as can be made about the cause of the lingering unemployment problem in America. Continue reading
America is spacious and beautiful. It is the birthplace of the idea that people do not need a king to rule over them.
America has enormous strengths of which often its own native-born residents are either unaware or which they take for granted. Among these strengths is the continual enrichment of the country by immigration from abroad. America is truly a world country, perhaps, along with Canada, being the prototype of a country built up in large part by immigration. Continue reading
It is the time of the summer solstice, a daily reminder of the life-giving energy that comes to us from the sun at this time of year in the temperate latitudes when the sun is with us through most of our day.
Our sun, as Giordano Bruno was the first to say, is one of a perhaps infinite number of stars. Our sun’s energy supports life on earth because it is so relatively close to us–just a little over eight minutes away at the speed of travel of the energy that comes to us from the sun as light and heat.
Andrew Galambos and Jay Snelson taught us one of the precepts of the wisdom of the ages–that in our lives we are all free as long as we hold on to the freedom of our primary property, our property in our thoughts, ideas, and actions. Continue reading
After delivering the V-50 lectures for fourteen years, in 1977-1978 Jay Snelson presented his last V-50 lectures. Thanks to the endeavors of Charles Holloway, those lectures were reproduced in DVD, MP-3 format in the year 2008 and published with the consent of Jay Snelson. The publication consists of a set of six compact discs and an illustrated booklet setting forth the background and summarizing the content of the lectures. Continue reading
On June 21, 2012 there has been added to the website, Capitalism: The Liberal Revolution, a new chapter entitled “Political Democracy in America.” The link to this new chapter is https://www.capitalismtheliberalrevolution.com/chapter/political-democracy-in-america/ Continue reading
Buffett Rule Tax Increase Would Not Put a Dent In U.S. Debt and Deficits
A currently debated idea of the incumbent President of the United States of America is to impose a 30% income tax on all income of individuals with $1 million or more of taxable income in a year. This proposal, known as “the Buffett Rule,” is based on ideas espoused by multi-billionaire Warren Buffett, whose proposal was previously described in an entry in this blog dated August 25, 2011. Continue reading