Sunday, August 27, 2017

Murray Rothbard: An Uncompromising Optimist



By Jeff Deist

Murray Rothbard has been gone more than 20 years now, his brilliance, wit, and irreplaceable insights taken from us far too soon. At home in New York City over a Christmas break from his teaching duties at the University of Nevada, Rothbard accompanied his beloved wife Joey to her optometrist appointment on a bitterly cold day. A few moments later, on January 7th 1995, he was gone — lost to heart failure at the age of 68.
What he left behind was

Saturday, August 26, 2017

Goldman Sachs Exempt From Trump's Venezuela Bond Trading Ban

Goldman Sachs CEO Lloyd Blankfein
Crony Goldman wins again.

David Stockman notes:
Trump's ban on trading Venezuelan bonds stupid & corrupt. Largest holder exempted. Who? Goldman Sachs! PITIFUL!
  -RW

I Prefer Free Trade



A Don Boudreaux letter to the New York Post:
Errors of logic and fact infect Betsy McCaughey’s defense of the Trump administration’s protectionist policies (“Trump is not backing down on trade,” August 23).  No error is worse than the one she opens with:

COHN: Tax Reform Will Mean Getting Rid of Many Personal Deductions


President Donald Trump's national economic adviser, Gary Cohn, discussed tax reform with the Financial Times.

Here are the highlights of what he had to say (my bold):
We are completely engaged in tax reform. Starting next week the president’s agenda and calendar is going to revolve around tax reform.

He will start being on the road making major addresses justifying the reasoning for tax reform and why we need it in the US.

At the end of the day,

Sex and Economics: Is Capitalism Less “Bang” for Your Buck?




By Abigail Hall

Several months ago, I wrote a piece titled, “My Vagina Doesn’t Care for Your Identity Politics,” in which I discussed how the most recent presidential election played directly into the idea of identify politics—that an individual should engage in or refrain from certain activities based on a particular group to which they belong.

Alas, here I am again with another discussion of sex and economics. Vaginas (and orgasms) are once again an apparent topic for discussion.

A recent article in the New York Times discussed

Friday, August 25, 2017

Janet Yellen: The Suicide Bomber at Jackson Hole


This morning, Federal Reserve Chair Janet Yellen said nothing to rock markets during her speech at the annual monetary conference in Jackson Hole, Wyoming. She kept her comments, on items that would concern markets, neutral to the degree she mentioned them at all.

But that doesn't mean, she was not wearing a suicide bomb vest. She was, and

Macron Vows to Cut Back on Makeup Expenses


During his first three months in office, the 39-year-old French President Emmanuel Macron’s personal makeup artist, Natacha M., has billed the Elysée Palace 26,000 euros – more than $30,000.

According to NyPo, after the weekly Le Point reported the story, the palace said Natacha was hired as “a matter of urgency.”

The official acknowledged the bill was “high … but less than his predecessor’s.”

Former President François Hollande was accused of “shampoo socialism” — shelling out 30,000 euros for makeup per quarter, along with a monthly bill of 9,895 euros for a personal barber, Le Canard Enchainé reported.

His aides promise that his future cosmetic outlays will be “significantly reduced.”

 -RW

Trump's Top Economic Adviser Just Made Comments Supportive of Antifa

Antifa
White House economic adviser Gary Cohn has responded to Donald Trump’s Charlottesville comments, insisting that the president had to do a better job condemning white supremacists.

“I believe this administration can and must do better in consistently and unequivocally condemning these groups and do everything we can to heal the deep divisions that exist in our communities,” Cohn said in an interview with the Financial Times.

Cohn aligned his views with the establishment media, reports Breitbart, asserting that the violent Antifa counter-protesters were “standing up for equality and freedom”.

“Citizens standing up for equality and freedom can never be equated with white supremacists, neo-Nazis, and the KKK,” he said.

I have been critical of the President for attempting to deflect away from the neo-Nazis in Charlottesville  (SEE: Donald Trump's Asinine Charlottesville Deflection) but is more bizarre to place the Antifa in the category of defenders of freedom.

The Antifa is a violent extremist group that wants to tear down the entire capitalist structure of America.

Harvard Professor Alan Dershowitz is correct on this one. From The Washington Times:
“Antifa is a radical anti-American, anti-free market, communist, socialist, hard, hard left censorial organization that tries to stop speakers on campuses from speaking,” Mr. Dershowitz said. “They use violence. And just because they’re opposed to fascism and to some of these monuments shouldn’t make them heroes of the liberals.”
“I’m a liberal, and I think it’s the obligation of liberals to speak out against the hard left radicals just like it’s the obligation of conservatives to speak out against the extremism of the hard right,” he added.
This is further indication that  Cohn is a New York leftist who has no clue as to what is going on in America. He reads mainstream media headlines and has no deep knowledge nor understanding---and the man is Trump's top economic adviser. Scary.

 -RW

How to Shut Up a Marxist

 -RW

Is Treasury Secretary Mnuchin an Idiot?

Okay, I am still thinking about Treasury Secretary Steven Mnuchin's Monday visit to Fort Knox (SEE: What the Hell is This?: Mnuchin Tweets on Fort Knox Gold).

It just does not make any sense that he would want to bring attention to the gold supposedly held by the Treasury.

For the record, a very high-level person in a previous administration, and I will have to leave it at that for now, has told me that the public doesn't know everything they should know about US government gold. So why is Mnuchin going to Fort Knox to bring focus on the gold?

And focus on the gold is exactly what is occurring in the wake of his Monday visit.

Gata has a piece out on the visit, as does Rickards, as does Embry, as does Gold Core, as does Zero Hedge.

BullionStar writes:
By opening just one of the 13 compartments for Mnuchin & Co to peer into, that leaves 12 of the supposed gold storage compartments that were not opened. Still, this didn’t stop Mnuchin stating on Twitter that “Glad gold is safe“. This is a ridiculous statement from a US Treasury Secretary when you consider what the actual visit consisted of, and it would be remiss of the US public to put any trust in it.
As best as I can figure, the Mnuchin visit to Fort Knox was simply a cover story for Mnuchin to take his new trophy wife to view the total eclipse.

The Hill reports:
The watchdog group Citizens for Ethics and Responsibility in Washington (CREW) has filed a Freedom of Information Act request for records detailing the costs of Treasury Secretary Steven Mnuchin's trip to Lexinton, Ky., in a government plane around the time of Monday's eclipse.

Mnuchin's wife, actress Louise Linton, drew attention on social media to the trip, during which the secretary gave remarks alongside Senate Majority Leader Mitch McConnell (R-Ky.) at a local event.

Linton posted a photo with a description of her designer outfit that included the government plane in the background, which "set off a public firestorm," according to CREW...

CREW announced on its website that it was requesting "copies of all records concerning authorization for and the costs" of the Kentucky trip, and any other similar costs for transport in a government plane accrued by Mnuchin since he took office.

"The requested records would shed light on the justification for Secretary Mnuchin's use of a government plane, rather than a commercial flight, for a trip that seems to have been planned around the solar eclipse," CREW said in the statement.

The wifey seems to have a thing for big events, real and imagined:




Anyway, Mnuchin has provided an opportunity for me to again call for an audit of  the gold at Fort Knox (and also the gold held at the Treasury's other two depositories, in Denver and West Point.)

Perhaps Rand Paul can introduce a bill in the Senate. I consider an audit of Fort Knox to be more important than an audit of the Fed. If the gold isn't there, it will quickly reveal the fraudulent lying nature of the government.

-RW

Thursday, August 24, 2017

Amazon Announces That It Will Cut Prices Immediately at Their New Acquisition, Whole Foods



I love free markets.

Amazon.com Inc. and Whole Foods Market Inc. said Thursday they will lower prices on a range of groceries on Monday to mark the close of Amazon’s $13.7 billion acquisition of the grocer.

“To get started, we’re going to lower prices beginning Monday on a selection of best-selling grocery staples, including Whole Trade organic bananas, responsibly-farmed salmon, organic large brown eggs, animal-welfare-rated 85% lean ground beef, and more,” Jeff Wilke, CEO of Amazon Worldwide Consumer, said in a statement. “And this is just the beginning — we will make Amazon Prime the customer rewards program at Whole Foods Market and continuously lower prices as we invent together. There is significant work and opportunity ahead, and we’re thrilled to get started.”

Kroger’s stock price dropped 7 percent on the news, while Supervalu’s dropped 4 percent. Walmart and Target stock prices fell more than 2 percent and 3 percent, respectively.

Jeff Bezos is a free market genius when he isn't colluding with the CIA.

-RW