‘Books’ Archives
Blogging The Revolution: A Manifesto – The Foreign Policy of the Founding Fathers, Blowback, Part 2
Foreign Interventionism and Blowback When Bill Clinton's secretary of state, Madeleine Albright, stated on 60 Minutes that half a million dead Iraqi children, as a result of the sanctions on Iraq during the 1990s, was "worth it," who could think that this would not cause resentment and hatred throughout the Arab world? If the united States [...]
Blogging Gold: The Once and Future Money – Good Money is Stable Money, Part 2
Money's Gift Money simplifies transactions, allowing an economy to develop and become more complex. In a barter system of 1000 goods, there would be 499,500 exchange rates, but with money only 1000 prices. The future may turn to electronic credits, but money's role would remain the same as a measure of value. Money allows for more than trade. It [...]
Blogging Meltdown – Culprit 2: The Community Reinvestment Act and affirmative action in lending, part 2
Henry Cisneros Henry Cisneros, former mayor of San Antonio and Bill Clinton's first secretary of the Department of Housing and Urban Development (HUD), helped loosen restrictions on lending both in government and in his own ventures in the private sector to help people buy homes who would not have qualified for loans in the past. However, even he [...]
Blogging The Revolution: A Manifesto – The Foreign Policy of the Founding Fathers, Blowback
After 9/11 The non-interventionism of the Founding Fathers became even more important after September 11, but was instead, sadly ignored. The American people quite properly wanted the attackers found and punished. They also wanted to know why America was attacked. This is a perfectly reasonable response and question. What was their motivation? [...]
Blogging Gold: The Once and Future Money – Gold Money is Stable Money: How People Make a Living through Monetary Cooperation, Part 1: The Development of Money
"Coinage is imprinted gold or silver, by which the prices of things bought and sold are reckoned. . . . It is therefore a measure of values. A measure, however, must always preserve a fixed and constant standard. Otherwise, public order is necessarily disturbed, with buyers and sellers being cheated in many ways, just as if the yard, bushel, or [...]
Blogging The Revolution: A Manifesto – The Foreign Policy of the Founding Fathers, Henry Clay
Ron Paul next quotes Henry Clay: "By the policy to which we have adhered since the days of Washington... we have done more for the cause of liberty than arms could affect; we have shown to other nations the way to greatness and happiness... Far better is it for ourselves... and the the cause of liberty, that, adhering to our pacific system and [...]
Blogging GOLD: The Once and Future Money
The price of gold continues to climb in this first decade of the twenty first century. Why is this happening? Because it is competing with the failing dollar, euro, sterling pound, and all the other fiat currencies. In today's economic crisis, ignoring gold could be devastating to your financial well being. Maybe, it would be a good idea to have [...]
Blogging The Revolution: A Manifesto – The Foreign Policy of the Founding Fathers, John Quincy Adams
Quoting John Quincy Adams, that America ought not “to go abroad in search of monsters to destroy,” Ron Paul explains that Adams hoped America’s role in the world would be greater than mere military power. He considers what others might think of what America had done for the world: f the wise and learned philosophers of the elder world… [...]
Blogging Meltdown: Culprit 2 – The Community Reinvestment Act & affimative action in lending, Part 1
Fannie and Freddie not only pushed for looser lending requirements, so did other Government agencies. They pressured lenders to make riskier loans all in the name of “racial equality.” Lenders, fearing lawsuits of hundreds of million dollars in damages, followed their orders. In 1992, the sloppy and error ridden study by the Federal [...]
Blogging Meltdown: Culprit 1: Fannie Mae and Freddie Mac, Part 2
Fannie Mae and the political establishment, in the name of helping the “disadvantaged,” worked to lower lending requirements. As the New York Times reported in 1999, Fannie Mae’s initiative would encourage banks to “extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans.” The [...]
Blogging Meltdown: Culprit 1: Fannie Mae and Freddie Mac, Part I
Fannie Mae and Freddie Mac, officially known as “government sponsored enterprises” or GSEs were at the center of the collapse What do they do? Do they offer loans to home buyers? No, they instead buy loans from banks on the secondary market. After a bank offers a home loan to a customer, it then sells the loan to Fannie or Freddie. So, the [...]
Blogging Meltdown: “Change you can believe in”
Obama’s economic team seems to confirm at first glance that all his talk of “change” really means more of the same – “more bailouts, more government intervention, more addressing symptoms rather than causes – along with greater deficits, and massive increases in government spending,” which our illustrious leaders in Washington [...]
Blogging Meltdown: More bailouts, more regulation, more government
As usual, government officials first misdiagnosed the problem, giving themselves a pass and blaming others for the problem. They looked at the Great Depression, but got the lesson wrong. Next, they told America that the government needed to follow the same wrong-headed policies that prolonged the Great Depression in order to save us from the [...]
Blogging Meltdown: The Elephant in the Living Room – The Fed
The common theme recently from the media, the economists, and the government they serve is the failure of the Free Market. According to them, both the Obama and Bush administrations, and both parties in congress, more regulation, more interventionism, more spending and more debt will solve the crisis. Yet, the very people who caused the mess and [...]
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