As a registered Republican, Powell would likely have support from a Republican-controlled Senate. He loved America’s attachment to property and commerce but emerged as the country’s most severe critic of the warfare state.” Further, his November 30 birthday provides an excuse. Fed proponents claimed the country would be fortunate to have an “elastic” currency. YouTube, the dominant video platform owned by Google, decided yesterday to remove a Mises Institute video. It was later discovered that one of Parr’s men had changed the total tally for Johnson from 765 to 965 by simply curling the 7 into a 9. For instance, he seems to not understand the difference between a natural resource (the physical production factor) and an economic resource (the subject value), which leads him to erroneously conclude that hoarding, and the resulting increased scarcity of physical ​resources, impoverishes humanity. But, as we've known since Menger, the means of production have only value to the extent they contribute to the production of consumers' goods, the consumption of which is the realization of value. None can love freedom but good men; the rest love not freedom, but license, which never hath more scope than under tyrants. Anyways this is just the tip of the iceberg, so this is my conclusion, Democrats don't understand economics. First, Judy Shelton’s long shot at joining the Fed has now become an even “longer shot.” Considering Trump couldn’t even persuade fellow Republicans like Mitt Romney or Susan Collins to vote for her, it’s unlikely Biden would have much more success. ….defense of the minimum wage is strong evidence that the world does indeed include people who really do believe that government-officials’ stated intentions determine the outcomes of government actions. The democrats understand Economics, it's just that their version of the topic is much different than ours. As for Fed chair Jerome Powell, who kept rates on hold, his Q&A after the committee meeting revealed that regardless who is president, as long as the Fed can expand the balance sheet at will, they continue holding all the cards. Truth…needs no policies or stratagems…to make her victorious. It is truly owed to the Federal Reserve and government intervention that more money was digitally made into existence, of which some went into household spending. There are laws to protect the freedom of the press’s speech, but none that are worth anything to protect the people from the press. The video, a talk by Tom Woods titled "The Covid Cult" with more than 1.5 million views, was recorded at our live event in Texas two weeks ago. Jerome Powell did the same during this recession. Money serves three basic functions: as a unit of account, a medium of exchange, and a store of value. Such cases include incidents where officers shot a kid lying on the ground while aiming at a family dog, were accused of stealing $225,000, and told a police dog to attack a suspect on his knees with his hands behind his head. On the Sunday morning after the run-off, Stevenson was leading by 854 votes. Per the Fed, life did not become as unaffordable for the masses as they had hoped, therefore they expect to maintain an “accommodative stance of monetary policy” until prices rise enough, meeting their inflation objective. This is not alarmism or conspiracies, but documented examples of how Google, Facebook, YouTube, Twitter, Instagram, LinkedIn and others actively participate—including financially—in a melding of corporate and state power. Of course, sometimes the “war” can be waged by the state upon its own people, as in the case of the war on drugs or the war on poverty, etc. "People should stop consuming/spending so much" It feels like statements like these are made by people who don't understand basic economics or is it just me? But are they impossible to enact? If you want it cheap but well done you best be prepared to … It's pretty clear most don't. Moreover, the US Senate outcome is still not officially set, although Republicans had a narrow lead at the start of the week. In contrast, much of what has been proposed by politicians this year has involved widespread invasions of our liberties, disguised by focusing only on those promises to give, without much mention of the corresponding unavoidable promises to take from others to do so. Watching as Biden and Trump supporters went at it, I found myself bewildered by what was hardly being discussed, by the dearth of coverage of the serious issues facing us today. We encourage readers to consider the entirety of Rectenwald's talk, and his sobering book Google Archipelago for his thorough treatment of the facts and realities behind tech companies and the US state. However, unlike many social sciences, economics is … This high-ranking bureaucrat has the job of “officially affirming Biden has won the election on behalf of the Trump administration,” something which, so far, has yet to occur. Comments for Presidents Come and Go. It’s just financial engineering. Energy is the central pillar of economics, meaning that economies are constrained by the laws of thermodynamics, which govern energy in our universe. In this case, they must confirm someone to serve on the board of governors to manage the nation’s central bank, an idea championed by many anti-capitalists, including Karl Marx. It is lawful…for anyone who have the power to call to account a tyrant. This is misleading because it completely misunderstands the notion of sound money, limited government, and the control of the money supply, all which underline the gold standard. Whereas today’s mainstream dogma takes perpetual economic expansion as a given, the law of entropy rules out eternal growth. Linking the dollar to gold can also restrict liquidity when the economy needs it most—as happened during the Great Depression.”, She forgets: the Great Depression was inevitable given the boom the Fed created in the years before. explains, the correlation between their performance is rather weak over the long run. Even economists have trouble defining exactly what economics means. Comments for Don’t Forget LBJ’s Election Theft, Originally published by the Future of Freedom Foundation, SCOTUS May Be Setting the Stage for a Challenge to Qualified Immunity, Comments for SCOTUS May Be Setting the Stage for a Challenge to Qualified Immunity, Print SCOTUS May Be Setting the Stage for a Challenge to Qualified Immunity, History of the Austrian School of Economics. I write about politics, economics, and feminism. Don't lose the forest for the trees. Presidents Come and Go. The newly discovered votes were overwhelmingly in favor of Johnson. The two are closely intertwined because our economy is staked on the principle of private property, and depends on the flow of capital between producers, consumers, and intermediaries. The true gig economy is that we can work only for an hour or two -, It Doesn't Take a Genius to Understand Economics, Comments for It Doesn't Take a Genius to Understand Economics, Print It Doesn't Take a Genius to Understand Economics, We Need Some of Mark Twain's Humor Right Now, Comments for We Need Some of Mark Twain's Humor Right Now, Print We Need Some of Mark Twain's Humor Right Now, YouTube Attempts to Silence the Mises Institute, Comments for YouTube Attempts to Silence the Mises Institute, Print YouTube Attempts to Silence the Mises Institute. In fact, most geniuses seem to simply not get economics. We're close to the all-time high deficits we took on for WWII. On July 2, 2019, President Donald Trump nominated Mrs. Judy Shelton to join the Federal Reserve Board of Governors. Our Congress….In their private life they are true to every obligation of honor; yet in every session they violate them all, and do it without shame….In private life those men would bitterly resent—and justly—any insinuation that it would not be safe to leave unwatched money within their reach; yet you could not wound their feelings by reminding them that every time they vote ten dollars [in] appropriation, nine of it is stolen money and they the marauders. The Fed Fiscal Theory Monetary Theory. If it happens again, your channel will get a strike and you won’t be able to do things like upload, post, or live stream for 1 week.". How oft [have] nations gone corrupt…by their own devices brought down to servitude. But It's Looking Very Unlikely. As Justice Samuel Alito points out in his concurring opinion, the United States Supreme Court typically avoids hearing cases where there is not an underlying question of how a doctrine or statute should be interpreted. CAPITAL - Capital is that part of wealth which is put aside for the further production of wealth. Considering the Fed owns $4.5 trillion of US Treasurys, of a nation with a $27 trillion debt, we should come to terms with understanding that the Fed is financing a significant portion of the US government’s spending activities. Do Americans understand much of this? . But as we're flooded with goods, their market price also plummets. When Caro was researching his book, he secured a statement from Luis Salas, an election judge in Jim Wells County, who acknowledged the fraud and confessing his role in it. You will get lots of exposure to simple calculus problems. While it didn’t have to be, he insisted it would be. In Principles of Microeconomics and Principles of Macroeconomics, I never really used any calculus, but then again, those are introductory classes. The two affect each other, but as M.A. It’s easy to understand why many people tune out, never learning more than the intuitive basics. These terms need to be understood before you can understand how the economy works or how it should work. Ironically, if Stevenson had become the state’s senator instead, Johnson would never have been selected to be John Kennedy’s vice presidential running mate and, consequently, would never have been president. Janet ♦ 04/30/2016 ♦ Leave a comment. And at their heart is his conclusion that free we must remain. The court invalidated The Fifth Circuit Court’s decision, claiming that Mr. Taylor’s rights had been violated and that the corrections officers should not receive qualified immunity because “no reasonable correctional officer could have concluded that, under the extreme circumstances of this case, it was constitutionally permissible to house Taylor in such deplorably unsanitary conditions for such an extended period of time.” The case was decided by a 7-to-1 vote with a sole dissent from Justice Clarence Thomas. All of the options in financial markets are beyond my understanding. Trump’s lady-in-waiting for the Federal Reserve, Judy Shelton, is losing Republican support by the day. We’ll have to add that to the list of things gone wrong in 2020, then move on. We are often told mild inflation is good and to not worry about the money supply, the debt levels, and currency debasement. Economist 6bff. Beyond the hype, nobody has made more than a dent. 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