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Archive for July, 2016

Supreme Court Justices are not political. Ha.

12 Jul

If Trump wins, she should resign from the Court. 

“Justices don’t weigh in on presidential elections for a reason.”

Source: In bashing Donald Trump, some say Ruth Bader Ginsburg just crossed a very important line – The Washington Post

 
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Posted in Constitution, Donal Trump, Hillary Clinton, Individual rights, Judiciary, The Warfare State

 

Go south and west

11 Jul

“Figuring out where to retire after decades of working can be a tough choice. Bankrate has its top picks and recommendations of places to avoid.”

Source: Best and worst cities for retirement according to Bankrate.com

 
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Posted in Economy, Money

 

Here comes inflation

11 Jul

Easy money is doing its thing…higher prices are here and may go higher.

“Inflation is creeping higher and will soon force the Federal Reserve to re-examine the wisdom of keeping short-term interest rates low, says economist Paul Ashworth, the winner of the Forecaster of the Month contest for June.”

Source: Inflationary pressures are already building, top forecaster says

 
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Posted in Business cycle, Central banks, Economy, Federal Reserve, Inflation, Interest rates, Money

 

Private security…responding to consumer demand

11 Jul

How a free, decentralized society would keep people and neighborhoods safe. 

 

“Abolition of the public sector means, of course, that all pieces of land, all land areas, including streets and roads, would be owned privately, by individuals, corporations, cooperatives, or any other voluntary groupings of individuals and capital.”

Source: Privatize the Police | Mises Wire

 
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Posted in Crime, Economy, Free markets, Individual rights, Police, Politics, Property rights

 

Central bankers never learn

11 Jul

“The reason why anyone would buy negative-yielding debt is actually pretty simple: Because they have to.”

Source: Negative rates leading to ‘day of reckoning’ fear on Wall Street

 
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Posted in Business cycle, Central banks, Crony capitalism, Economy, Federal Reserve, Interest rates, Money, Politics, U.S. Dollar

 

The key to a peaceful world

11 Jul

“National and individual choice in a post-Brexit world: secession is a human right.”

Source: All People Have the Right of Self Determination | Foundation for Economic Education

 

The new oath of “allegiance”

11 Jul

Here we go.  Entrenching a political paradigm.  

“University of Cincinnati requires ‘diversity and inclusion’ statement.”

Source: Public university now requires applicants pledge commitment to ‘diversity and inclusion’ – The College Fix

 
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Posted in Civil liberties, Education, Higher education, Politics

 

A new “formula” for education

11 Jul

Former Ramsey Mayor Richard Muti asserts in The Record that Gov. Christie’s “fairness formula” for state education aid to local school districts would result in “chaos”. Mr. Muti bases his conclusion on the premise that so-called children in poor districts have “substantial needs” that cannot be supported by local property taxes. Thus, he concludes, the New Jersey Supreme Court’s 1990 Abbott v. Burke decision that created the aid formula that has funneled tens of billions of dollars of taxpayer dollars to primarily urban school districts was correct, because it provided a “thorough and efficient” education that the state constitution requires.

However, Mr. Muti, also writes the following: “The ruling was unanimous — all seven justices concurred, Republicans and Democrats alike. They acknowledged that equal funding alone would not cure the problem of failing schools in urban districts. (emphasis added) ‘We realize our remedy here may fail to achieve the constitutional object,’ Chief Justice Robert Wilentz wrote. ‘No amount of money may be able to erase the impact of the socioeconomic factors that define and cause these pupils’ disadvantages. We realize that perhaps nothing short of substantial social and economic change affecting housing, employment, child care, taxation, welfare will make the difference for these students; and that this kind of change is far beyond the power or responsibility of school districts.’ “ (emphasis added)

By its own admission, the Court made a “sociological – political” decision, not one based on sound legal principles. Moreover, “equal spending” that the court ordered has been turned on its head. Asbury Park spends more than $33,000 per pupil, and receives nearly $29,000 per pupil in state aid, while Cherry Hill spends almost $18,000 per pupil and receives slightly less than $3,000 in state aid for each public school student. In other words Asbury Park receives 10 times per state aid per pupil than Cherry Hill. The discrepancy in state aid not only is beyond the pale but Asbury Park only has a 66% graduation rate compared with 94% in Cherry Hill. The Supreme Court was correct; money is not providing educational success in the so-called Abbott school districts.

Instead of debating back and forth the proper aid formula for local school districts, the public, legislators and policy wonks should focus their energies on evaluating the whole premise of government schools.

Instead of debating which education funding law is constitutionally sound and compatible with the states constitution “thorough and efficient” clause, we should embrace the insight of Frederick Bastiat in his classic monograph, The Law, where he wrote the following about education and the state.

 

“You say, “There are men who want knowledge,” and

you apply to the law. But the law is not a torch that sheds

light that originates within itself. It extends over a society

where there are men who have knowledge, and others

who have not; citizens who want to learn, and others who

are disposed to teach. It can only do one of two things:

either allow a free operation to this kind of transaction,

i.e., let this kind of want satisfy itself freely; or else preempt

the will of the people in the matter, and take from

some of them sufficient to pay professors commissioned

to instruct others for free. But, in this second case there

cannot fail to be a violation of liberty and property—legal

plunder.

Bastiat wrote passionately about the structure of a free society. He combined the insights of sociology, economics, politics, and philosophy to describe what the law would be in a free society. Education, an important element of human development, is the responsibility of parents, not the state. Until this paradigm becomes one of the components of our society, the conflict over education spending and “fairness formulas” will be endlessly debated.

Gov. Christie fired the first shot in this continuous and contentious – and needless – argument over how to distribute money extracted from taxpayers. The next “battleground,” which the two sides in the education state aid formula must address is why the state and local governments have socialized education. This debate is long overdue and when cooler heads on both sides of the current debate take a timeout, we will finally address one of the most important issues in the country, how we can desocialize education, which in the final analysis will increase educational opportunities for all children and provide the much-needed tax relief for taxpayers throughout the state.

 
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Posted in Education, Local government, New Jersey Supreme Court, State government

 

Money, Money, Money

11 Jul

The money printers are on overdrive.  

“When we first heard this past Thursday that private blogger and Citadel employee Ben Bernanke was going to “secretly” meet with both the BOJ’s Haruhiko Kuroda and Japan PM Abe, we warned readers that “something big was coming.” Two trading days later, with the USDJPY higher by 200 pips and soaring after something big indeed came overnight from Japan: nothing less than the first “lite” instance of helicopter money.”

Source: “Something Big” Indeed Came – Bernanke’s Japan Visit Unveils “Helicopter Money”, Sparks Monster Rally

 
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Posted in Business cycle, Central banks, Crony capitalism, Economy, Inflation

 

Greenspan does a 180

10 Jul

“Faking It   Under a gold standard, the amount of credit that an economy can support is determined by the economy’s tangible assets, since every credit instrument is ultimately a claim on some tan…”

Source: Alan “Bubbles” Greenspan Returns to Gold

 

Thinking the unthinkable. November election postponed or cancelled?

10 Jul

“The white trucks, equipped with large off-road tyres, were seen being transported on Interstate 81 on Friday. One online community wondered if the U.N. was preparing for an economic collapse.”

Source: Virginia motorists spot white UN ‘combat vehicles’ on the interstate | Daily Mail Online

 
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Posted in Civil liberties, Constitution, Federal Government, Political parties, Politicians, Politics, President Obama, Presidential campaign, Race

 

Before the Fed economic growth was impressive

10 Jul

Yes, there were many recession (shaded gray areas), the Depression of 1893-1896 and the Panic of 1907, yet living standards rose relatively steadily.  

Courtesy of www.davidstockmanscontracorner.com

 

2-US-GNP-per-capita-1869-1918

 
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Posted in Business cycle, Economy, Federal Government

 

An economic and history lesson

10 Jul

Why a depression is the cure that ails America.  Being prepared will help you ride out the inevitable. 

“Artificial measures to stave off a downturn will only make it much worse.”

Source: America Needs a Good, Old-Fashioned Economic Depression

 

Tom DiLorenzo exposes the hypocrisy

10 Jul

Don’t all black lives matter? From the Lewrockwell.com blog.

“On the front page of today’s Baltimore Sun is one headline about three black men shot dead in the city last night by other black men.  Next to it is another headline about the “Black Lives Matter” protests in the city which were held just two blocks from one of the murders while the murder occurred.  The protesters of course paid no attention whatsoever to that, or to the other two murders of black men by other black men in their own neighborhood.  Their new logo should be:  “Black Lives Matter.  Kinda.  Sometimes.  Depends.” “

 
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Posted in Crime, Race

 

Hillary in big trouble?

10 Jul

“Most voters disagree with FBI Director James Comey’s decision not to seek a criminal indictment of Hillary Clinton.”

Source: Most Disagree with Decision Not to Indict Clinton

 
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Posted in Corruption, FBI, Hillary Clinton, Judiciary, Politicians, Politics, Presidential campaign