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In response to:

Please, Janet Yellen, Shut Up

gmallast Wrote: Oct 18, 2014 8:17 AM
RE: John Ransom, “Please, Janet Yellen, Shut Up” Why? Is Janet Yellen? (Sorry, I couldn’t resist)
In response to:

QE3 Ends the Same Way Other QEs Did

gmallast Wrote: Oct 14, 2014 11:22 AM
“QE3 Ends the Way the Otherr QEs Did.” Yeah, for nearly 300 years going back at least to the Mississippi Scheme in France and the South Sea scheme in England both of which blew up in the late summerr of 1720. Whenever fiat money inflationis embarked upon it ends up badly and hurts the worst those who can least afford it. That has been the consistent record of fiat money inflation every time it has been tried for three centuries. That is why I’m a gold bug to the tip of my William McKinley walking stick. Why does anyone follow the long line of monetary cranks from John Law to John Mayanrd Keynes to Janet Yellen? “A man who applies his labour to the investing of objects with value by the creation of utility of some sort, can not expect such a value to be appreciated and paid for, unless where other men have the means of purchasing it. Now, of what do these means consist? Of other values of other products, likewise the fruits of industry, capital, and land. Which leads us to a conclusion that may at first sight appear paradoxical, namely, that it is production which opens a demand for products.” —Say, J. B., A Treatise on Political Economy, Philadelphia, 1832 translated from Traité d’Economie Politique, 1803 as quoted in Hazlitt, Henry, The Critics of Keynesian Economics, ©1960 D. Van Nostrand Company, Inc.; 1977 Arlington House, New Rochelle, New York, p. 13 “The same principle leads to the conclusion, that the encouragement of mere consumption is no benefit to commerce; for the difficulty lies in supplying the means, not in stimulating the desire of consumption; and we have seen that production alone furnishes those means. Thus, it is the aim of good government to stimulate production, of bad government to encourage consumption.” —Ibid p. 21
In response to:

The Unbelievably Incompetent White House

gmallast Wrote: Oct 06, 2014 7:12 AM
There doesn’t seem to be any good way of selecting political leaders. Austrian scholar Erik von Kuenhelt-Leddihn observed that one of the hazards of democracy is that you can end up with people who are good at campaigning and getting elected but inept at governing. Thomas Paine observed that the hazard of a hereditary monarchy or aristocracy is that it leaves the nation at the mercy of the genetic draw. While it is possible a intelligent and competent king could inherit the throne there is a real possibility someone with a bad congenital mental disorder can inherit the throne. Think King John, the four Stuarts, and George III. A bureaucratic mandaranate selected on the basis of standardized tests took China from being the most advanced nation in ancient times to one of the most chaotic and backward as the mandarins lost all touch with social and economic reality. They came to be selected not of the basis of competency but tests over esoteric and archaic knowledge which had nothing to do with expertise in governing. That trend is inevitable.
Crusade anyone?
In response to:

Random Thoughts

gmallast Wrote: Aug 19, 2014 11:10 AM
” Too many people in Washington are full of themselves, among other things that they are full of.” Oh yes, and they also think it doesn’t stink.
You never know where this might lead for that calligrapher. Think of the fictional First Lord of the Admiralty, Sir Joseph Porter, from Gilbert and Sullivan's "HMS Pinafore": "He copied all the letters with a hand so free, That now he is the ruler of the Queen's na-vee." In this administration if the caligrapher makes really pretty letters he might be appointed Secretary of the Navy or even Secretary of Defense someday.
In response to:

Bill and Hillary Hypocrisy Alert

gmallast Wrote: Jun 20, 2014 7:47 AM
I am not a Randite, but Ayn Rand was right about so many things. Rand said that hypocrisy is the price a person pays for holding unlivable beliefs. She was right. It has also been said for ages that hypocrisy is the tribute vice pays virtue. Anyway, I have to go take a shower. Even from looking at a picture of the Clintons, I feel I have to go wash off the sleeze..
Chicagoans will just have to buy their guns on street corners like watches, drugs, and sex so the honest, incorruptible, wise, and holy, (ahem) Chicago officials can shake down gun dealers protection money.
In response to:

Beware a Beneficent Government

gmallast Wrote: Jun 12, 2014 11:33 AM
One question, Your Honor, what is "progressive" about a 2400-year-old ideology first implemented in practice in 1534? Otherwise, your article is well-taken.
Give me credit. I was NEVER dazzled by Obama. I did my homework as best as I could. I got Dr. Jerome Corsi's book "Obma-nation" and realized this guy was a train wreck waiting to happen. He was/is too blinded by hate, arrogance, narcissism, and the radical ideology that believes one Great Noble Holy Perfect Leader can plan and micromanage the whole world and somehow, once in office, will magically and mystically have all the wisdom and virtue of the universe devolve upon him to be able to do it. Race isn't the issue, I think Col. Allen West, for example, would make a half-ways decent president. Ideology and psychological health are.
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