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Central Banking Explained

Somebody sent this to me, and unfortunately I can’t remember who! (I can’t remember whom?) Anyway, it’s pretty good. If you’re on the fence in the beginning, just give it a chance.

It’s Sunday and I’ve already put up a bunch of posts dealing with mammon, so I thought I should at least post one on the Lord. Most people know deep down that there is something “wrong with the world.” Sure, atheist evolutionary biologists (and I realize that is a subset of all evolutionary biologists) can […]

Another Twin Spin

I have begun blogging at the Campaign for Liberty website, which is home to some serious Ron Paul fans. My inaugural post is on “Misunderstanding the Causes of the Great Depression.” An excerpt: A relatively free market can handle huge disruptions. E.g. if an asteroid smashed into Chicago in 1929, that might have caused a […]

Mark-to-Myth: FASB Does Its Part to Destroy US Financial Stocks

According to news reports, on Friday night the Financial Accounting Standards Board (FASB) caved to pressure from the SEC and will suspend the “mark-to-market” rules: Pressure is mounting on the International Accounting Standards Board to abandon its “mark-to-market” accounting principles, which many believe has been one of the key factors in causing the credit crisis. […]

NYT Dispels Rumors of Goldman Sachs Conspiracy

This is nice. A NYT blogger tackles the idea that Paulson might be helping Goldman Sachs–and for a good summary of the conspiracy theory, check out this post–and offers no argument whatsoever, only a smirk and a reference to Kool-Aid. Incidentally, someone recently informed a Listserv on which I participate that the Jonestown sheep didn’t […]

Vernon Smith Calls Bailout Scheme "Ridiculous"

Here at Free Advice, we have been rather skeptical of the Paulson Plan, to say the least. In addition to its naked theft of $700 billion (at least) from taxpayers, the plan makes no sense economically. I.e. we are paying hundreds of billions for the government to kick the economy while it’s down. To add […]

Paulson Should Take a Mulligan

Pepe alerted me to Casey Mulligan’s blog. Some awesome stuff here, especially on the bogus crisis (outside of financial sector). If you’re a bailout junkie, I encourage you to just go to his blog and start scrolling. But for now, let’s focus on a recent post where he explains how incredibly stupid the new plan […]

During Times of Crisis, People Turn to the Austrians

Jonathan M. brought the below chart to my attention. Apparently people are dissatisfied with the neo-Keynesian and supply-side explanations of what the heck is happening–probably because none of these folks saw it coming. The title didn’t come through in the picture link, but it is Google’s report on how many people are searching for “austrian […]