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    • Free Talk Live 2014-11-28
      Black Friday Madness :: Were things better in the past? :: Waiting In Line :: Religion and Morality :: Consumerism :: Black Friday Darker in Other Countries? :: Man Arrested for Pointing Banana At Police :: Drug Use and Being a Better Person :: Activist Critique :: Robin Hooding Tactics :: Crossing Guard Attack
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    • The Clock is Ticking in Switzerland
      For most of my career in international investing, I had always placed a great deal of faith in Switzerland's financial markets. In recent years, however, as the Swiss government has sought to hitch its wagon to the flailing euro currency and kowtow increasingly to U.S.-based financial requirements, this faith has been shaken. But this week (November 30t […]
    • The Abenomics Death Spiral
      As Japanese Prime Minster Shinzo Abe has turned his country into a petri dish of Keynesian ideas, the trajectory of Japan's economy has much to teach us about the wisdom of those policies. And although the warning sirens are blasting at the highest volumes imaginable, few economists can hear the alarm. (A longer version of this article can be found in E […]
    • Contemplating Stocks without QE
      Some influences on the stock market are casual, subtle or open to interpretation, but the catalyst behind the current stock market rally really shouldn't be controversial. As far as stocks go, we have lived by QE. The only question now is, whether we will die without it. A larger version of this article appears in the fall edition of Euro Pacific Capita […]
    • It's The Economy, and They're Not Stupid
      The sharp rebuke to the Obama administration delivered by the mid-term elections should not be construed as an endorsement of the GOP, which remains as unpopular as ever. Rather, as has been the case in the last few election cycles, voter revolts have hinged on continued dissatisfaction with the strength of the economy and the diminishing financial prospects […]
    • Governments Need Inflation, Economies Don't
      In an article in the UK's Telegraph on October 10, veteran economic correspondent Ambrose Evans-Pritchard laid bare the essential truth of the nearly universal current embrace of inflation as an economic panacea. While politicians, CEOs and economists talk about demand stimulus and the avoidance of a deflationary trap, Evans-Pritchard reminds us that in […]

Atlas Shrugged Quote of the Week

“The source of property rights is the law of causality.  All property and all forms of wealth are produced by man’s mind and labor.  As you cannot have effects without causes, so you cannot have wealth without its source: without intelligence.  You cannot force intelligence to work: those who’re able to think, will not work under compulsion; those who will, won’t produce much more than the price of the whip needed to keep them enslaved.  You cannot obtain the products of a mind except on the owner’s terms, by trade and by volitional consent.  Any other policy of men toward men’s property is the policy of criminals, no matter what their numbers.  Criminals are savages who play it short-range and starve when their prey runs out – just as you’re starving today, you who believed that crime should be ‘practical’ if your government decreed that robbery was legal and resistance to robbery illegal.

“The only proper purpose of a government is to protect man’s rights, which means: to protect him from physical violence.  A proper government is only a policemen, acting as an agent of man’s self-defense, and, as such, may resort to force only against those who start the use of force.  The only proper functions of a government are: the police, to protect you from criminals; the army, to protect you from foreign invaders; and the courts, to protect your property and contracts from breach of fraud by others, to settle disputes by rational rules, according to objective law.  But a government that initiates the employment of force against men who had forced no one, the employment of armed compulsion against disarmed victims, is a nightmare infernal machine designed to annihilate morality: such a government reverses its only moral purpose and switches from the role of a protector to the role of man’s deadliest enemy, from the role of policeman to the role of a criminal vested with the right to the wielding of violence against victims deprived of the right of self-defense.  Such a government substitutes for morality the following rule of social conduct: you may do whatever you please to your neighbor, provided you gang is bigger than his.” – John Galt

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