During the discussion following one of my recent lectures, it occurred to me that the questions fell into a pattern, and that this pattern was the same — whether in Manila, or Boise, or wherever. Each question was based on something the inquirer had heard or read; no questions appeared to stem from a genuine impasse in the person’s own effort to solve a problem. These people were merely repeating questions someone else had raised for them; they weren’t seeking directions by reason of having lost their way for, in fact, they had done no exploration on their own! Read More

The recent improvement of the global economy, with particularly high economic-growth numbers for the United States, is just one more deception in a long series of deceptions that have plagued policy makers and investors. While official statistics register a rising gross domestic product, the long-term production potential of many economies around the world is actually contracting. The present economic expansion is brought about by massive stimulus policies. This kind of economic expansion does not constitute genuine economic growth. Read More

There have been many complaints recently about the way Washington works — or rather its recent failures to efficiently implement Obama’s policy priorities.

Paul Krugman compares the present state of American politics to the gridlock that afflicted 17th-century Poland. Use of the Liberum Veto froze the Polish parliament (the Sejm). Now senators are holding up new legislation in America. Many others have added complaints about special-interest groups and an alleged need for public financing of elections. Read More

I was recently involved in a car accident in which I managed to smash the front end of my Chrysler — one consolation is the fact that it was a Chrysler and so was not much of a loss. I sat around for a minute or two, trying to figure out what had just happened. Finally, I got out of my car to talk to the driver of the truck I had hit. While filling out the claims report and talking to my insurance company, I could not help but examine my experience through the lens of Austrian economics and the free market. Read More

What I call the Old Right is suddenly back! The terms “old” and “new” inevitably get confusing, with a new “new” every few years, so let’s call it the “Original” Right, the right wing as it existed from 1933 to approximately 1955. This Old Right was formed in reaction against the New Deal, and against the Great Leap Forward into the leviathan state that was the essence of that New Deal. Read More

Everyone seems to have a different take on how to solve Americas health-care problem. But notice that every solution offered involves some elaborate new system of government controls. Different proposals include a public option, mandatory insurance for individuals, government-supported health-care exchanges, government-sponsored efficacy research, government-supported co-ops, and as many other ways of dictating consumer and producer behavior as can fit in a 1,000-page bill.

More government controls, we are told, are necessary to solve problems such as skyrocketing health-insurance prices, lack of competition among insurance companies, the inability of workers to keep their insurance policy when switching jobs, etc. Read More

Does morality depend upon religion? Most people believe it does, which is a major reason behind the appeal of the religious right. People believe that without faith in a supernatural authority, we can have no moral values–no moral absolutes, no black-and-white distinctions, no firm demarcation between good and evil–in life or in politics. This is the assumption underlying Justice Antonin Scalia’s assertion that “government derives its authority from God,” since only religious faith can supposedly provide moral constraints on human action. Read More

After railing against the Patriot Act as a senator and campaigning against it while running for President, it seems that the president and most Democrats have had a change of heart. On a Saturday no less, when most underhanded deals seem to be made while hardly anyone is paying attention, he quietly signed a one year extension on the Patriot Act, as is without any sort of reform to the legislation to protect civil liberties.

After the Senate passed the extension Wednesday, the House voted 315 to 97 Thursday to extend the act. The Patriot Act extension wasn’t the main body of legislation though, rather it was an amendment that was added to a Medicare reform bill without any sort of debate or accountability, voted on by voice vote to approve the amendment so that no politician would have to have their name attached to such an outrageous amendment. The vote is known as Roll Call 67, “On Motion to Concur in Senate Amendments” for H.R. 3961, the Medicare Physician Payment Reform Act.

After such a grotesque abuse of power, it is assumed that the media would be all over this. However, from taking a look around, most media outlets are either downplaying the extension, or not reporting on it at all. Even the left leaning news agencies are quiet on this one, after years of denouncing former president Bush for the act. The media has failed us, and surely not for the first or last time. They’re just another extension of the political machine that threatens our country. Be wary of what you hear, or don’t hear for this matter, in the mainstream media. They’re here to keep the status quo in power.

It seems the Democrats are no different from the Republicans when they come to power and are just as willing to continue the suppression of our civil liberties. It amazes me how such a man would gain the Nobel peace prize by escalating a war and supporting the encroachment of privacy at home. The Republicans are hypocrites as well, clearly going against their stance against Medicare extensions so that they can have their precious privacy infringing act renewed.

What really amazes me though is how people can continue to support such politicians, basically forgetting that the lesser of two evils is still pretty evil. Its time to break with tradition folks, as its obvious that’s only digging us deeper into the hole. Its time to try something different by giving those independent and third party candidates a chance to step up and lead. Otherwise this is all we’re going to get, more taxes, more war, and more economical problems.

So who in the House voted in favor to infringe on our rights; 162 Democrats and 153 Republicans, with 20 representatives not voting. Lets have a look: (more…)

Former New Mexico governor Gary Johnson, known for vetoing over 750 bills, decreasing the size of and improving the efficiency of the state government of New Mexico while promoting freedom of choice in all aspects of life, is seen here speaking at the 2010 CPAC.

Gary Johnson is a fiscally conservative, social liberty politician seeking the presidency in 2012.

There’s a major political fraud underway:  the GOP is once again donning their libertarian, limited-government masks in order to re-invent itself and, more important, to co-opt the energy and passion of the Ron-Paul-faction that spawned and sustains the ”tea party” movement.  The Party that spat contempt at Paul during the Bush years and was diametrically opposed to most of his platform now pretends to share his views.  Standard-issue Republicans and Ron Paul libertarians are as incompatible as two factions can be — recall that the most celebrated right-wing moment of the 2008 presidential campaign was when Rudy Giuliani all but accused Paul of being an America-hating Terrorist-lover for daring to suggest that America’s conduct might contribute to Islamic radicalism — yet the Republicans, aided by the media, are pretending that this is one unified, harmonious, “small government” political movement. Read More

By Kaj Grussner of Mises.org

Austrians have long called for a reform of the monetary system. The current, Fed-driven, fiat-money system is on the verge of collapse. But however bad the current system is, a new system won’t necessarily be better.

Many libertarians would favor a return to the gold standard, while others would be content with simply repealing legal-tender laws and allowing competition in currencies. However, even in a great collapse like the one looming now, these reforms may still seem too extreme to the general public. This is especially true if they have an alternative that seems reasonable and gives total control over the monetary system to the state. One such alternative is the 100-percent-reserve solution advocated by Stephen Zarlenga, director of the American Monetary Institute, and author of the book “The Lost Science of Money.” (more…)

Freedom means you are able to live your life as you choose so long as you bring no force against others. Anything less is a form of slavery. Are you free?

What is a Progressive Libertarian?

Progressive Libertarian – A capitalist market supporter that understands the need for programs that provide a small degree of regulation in order to ensure that the market is run in a transparent and honest manner to foster an environment in which businesses have equal entry to the market, and provides consumers with adequate information concerning products and business practices; advocates for individual liberties and privacy, low taxes, consumer awareness, and a smaller, less imposing government with more decisions being made on a local level. (more…)

The founding document of the United States, the Declaration of Independence, states that governments derive “their just powers from the consent of the governed.” Today, however, just 21% of voters nationwide believe that the federal government enjoys the consent of the governed.

A new Rasmussen Reports national telephone survey finds that 61% disagree and say the government does not have the necessary consent. Eighteen percent (18%) of voters are not sure.

However, 63% of the Political Class think the government has the consent of the governed, but only six percent (6%) of those with Mainstream views agree.

Seventy-one percent (71%) of all voters now view the federal government as a special interest group, and 70% believe that the government and big business typically work together in ways that hurt consumers and investors. Read More

Does It Make Sense to Resurrect the Glass-Steagall Act?

Mises Daily: Tuesday, February 16, 2010 by Frank Shostak

At the end of January, President Barack Obama announced that he is planning to introduce new regulations for the banking industry, to prevent excessive speculation. According to the president, no bank or financial institution that contains a bank will own, invest in, or sponsor a hedge fund or private equity fund, or have proprietary trading operations unrelated to serving customers for its own profit.

The driving force behind this plan is the former Federal Reserve Board chairman Paul Volcker who, it seems, wants to resurrect the Glass-Steagall Act of 1933. Instead of the separation of commercial and investment banking, we will now have a separation of banking business from proprietary trading, hedge funds, and private equity. In his testimony to the Senate on February 2, 2010, Volcker said,

The specific points at issue are ownership or sponsorship of hedge funds and private equity funds, and proprietary trading — that is, placing bank capital at risk in the search of speculative profit rather than in response to customer needs.

Some provisions of the Glass-Steagall Act, such as Regulation Q, which allowed the Federal Reserve to regulate interest rates on savings accounts, were repealed in 1980. The provisions that prohibited a bank-holding company from owning other financial companies were repealed on November 12, 1999. The repeal enabled commercial banks to underwrite and trade instruments like mortgage-backed securities, and establish structured investment vehicles (SIVs) that bought those securities. (more…)

THE OREGON WILDERNESS—Frustrated by the widely held assumption that he unequivocally endorses the wars in Afghanistan and Iraq, a bald eagle said Monday that his thoughts on the conflicts were far more nuanced than many Americans might expect.

Speaking to reporters from his nest in the upper branches of a 175-foot ponderosa pine tree, the eagle explained that each member of his species was different and none should be taken for granted as a lockstep supporter of American military policy.

“I think World War II was justified, and I got behind the first Gulf War [in 1990],” said the bird, who has served as the national symbol of the United States since 1782. “But the recent war in Iraq, with its shifting rationale and poor planning, was clearly a huge mistake. Personally, I believe that these crucial, life-and-death matters deserve more honest and less politicized discussion than they get.”

“I’m not a hawk or a dove,” he added. “I’m an eagle.”

The majestic bird of prey, who said he is not registered with any political party, admitted to having some ambivalence about the current mission in Afghanistan, lamenting that any argument one could make seemed to prompt an equally valid counterpoint.