Wednesday, May 25, 2016

India's Government Just Went Into Overdrive in Its Harassment of Apple

India has said Apple must meet a rule obliging foreign retailers to sell at least 30 percent locally-sourced goods if it wishes to open stores in the country, a senior government official told Reuters.

A change in legislation last year exempted foreign retailers selling high-tech goods from the rule, which states 30 percent of the value of goods sold in the store should be made in India.

However, Apple's products were not considered to be in this category, said the official, who has direct knowledge of the matter, according to Reuters.

This is pure harassment of Apple most likely at the behest of local retailers and manufacturers...

...and it will only hurt India's consumers.

 -RW


The Interventionism of the Two World Wars, Part 3

Richard Ebeling emails:

Dear Bob,

I participated in the May 24, 2016 “Libertarian Angle,” webinar sponsored by the Future of Freedom Foundation, with the Foundation’s president, Jacob G. Hornberger, on the topic: “The Interventionism of the Two World Wars, Part III.” 

In part 3 of this series, we look at the post-World War I disillusionment with the promises made during and immediately after the Great War. Woodrow Wilson may have talked about a “war to end all wars,” or “making the world safe for democracy.” But, in fact, it became clear in the peace treaties imposed on the defeated Central Powers, especially Germany, that this was to a victors’ vengeful peace. And in spite of Wilson’s call for “national self-determination” in place of imperial empires, the British and French were determined to grab German colonies for themselves, and carve up the Turkish Empire as additions to their own empires in the Middle East.

And out of the ashes of the war, instead of freedom and democratic government came Lenin’s communist dictatorship in the former Russian Empire and the emergence of fascism in Italy under Mussolini in 1922, who coined the term “totalitarianism” to express the essence of his political and economic collectivist system. This was followed by the achievement to power by Hitler and his Nazi movement in Germany in 1933, determined to follow a path of racial totalitarianism and central planning.

When new war clouds began to emerge over Europe as the 1930s progressed and finally became armed conflict with Germany’s invasion of Poland followed by declares of war by Britain and France in September 1939, public opinion polls in the United States showed clearly that up until the Japanese attack on Pearl Harbor in December 1941, the vast majority of Americans did not want America to be drawn into another European conflict. Hence, the “America First Movement” made up, mostly, of critics concerned about a renewed loss of American lives and fortunes from another war abroad, and a fear that with another war would come even more losses of liberty at home after eight years of the collectivist of Franklin Roosevelt’s New Deal.

But FDR was determined to draw America into the war in Europe and the conflict between Japan and China in Asia. How and why Roosevelt inched America closer and closer to war between 1939 and December 1941 will be analyzed in part 4 of this series.  

Best,
Richard



Part 1 is here.
Part 2 is here.

Schooling a US Ambassador About Free Trade

Don Boudreaux writes the Wall Street Journal:

Ambassador Donald Blinken thinks that the case for free trade is sound only if government ensures that trade “isn’t unnecessarily harmful to those sectors of the economy it negatively impacts” (Letters, May 24).  He’s mistaken, for at least two reasons.
First, free trade is simply a particular manifestation of economic competition.  It makes no more sense for government to give special assistance to producers who must adjust to changes caused by competition from new foreign rivals than it does to give special assistance to producers who must adjust to changes caused by competition from new domestic rivals or from new technologies.  Indeed, if government adopts a policy of giving special assistance to workers and firms that lose jobs and market share to foreign rivals, inefficiently large numbers of workers and firms will be attracted into sectors that are especially exposed to international competition.  One ironic result of this policy will therefore be an artificial increase over time in the number of domestic workers and firms that lose jobs and market share to foreign rivals.
Second, all that is needed to ensure that trade “isn’t unnecessarily harmful to those sectors of the economy it negatively impacts” is that trade be free.  The reduction in domestic prices caused by free trade is supposed to push some domestic resources out of their older, less-productive lines of work and into newer, more-productive lines.  Free trade (that is, competition) accomplishes this task by reducing the returns earned by resources in their older, less-productive lines of work.  Contrary to Mr. Blinken’s presumption, however, there’s no reason or evidence to suppose that free trade causes these returns to fall further than is necessary to bring about the appropriate contraction of those domestic industries that should contract – and, thus, that makes possible the appropriate expansion of those domestic industries that should expand.
Sincerely,
Donald J. Boudreaux
Professor of Economics
and
Martha and Nelson Getchell Chair for the Study of Free Market Capitalism at the Mercatus Center
George Mason University
Fairfax, VA  22030
The above originally appeared at Cafe Hayek.

The Bill to Allow 9-11 Victims to Sue Saudi Arabia Turns Out to Be a Chuck Schumer Led Scam

At the last minute, the bastard Schumer stuck an amendment to the bill which neutered it.

NyPo reports:
Last week’s unanimous passage of a Senate bill making it easier for 9/11 families to sue Saudi Arabia and other foreign terror sponsors was widely heralded as a major victory.

It’s more of a cruel hoax.

It turns out that just before the vote, Sen. Charles Schumer and other proponents of the Justice Against Sponsors of Terrorism Act stuffed an amendment into the final draft allowing the attorney general and secretary of state to stop any litigation against the Saudis in its tracks.

Yes, JASTA would remove the statutory restrictions that have prevented 9/11 families from taking the Saudi kingdom to court. But Schumer helped craft an entirely new section to the original bill, giving the Justice and State departments the power to stay court action indefinitely. All they have to do is inform the judge hearing the case that the US government has engaged with ­Riyadh in diplomatic talks to resolve the issue.
 -RW

MINIMUM WAGE BLOWBACK: "Robots Will Take Over Staff Jobs at McDonald's; Huge Job Losses Are Imminent"

A former McDonald's CEO warned that robots will take over staff jobs at the fast food empire - because it's cheaper than employing humans, reports the UK's Mirror.

Ed Rensi has said that buying highly skilled robotics is a cheaper alternative than employing people on minimum wage to work in the company's worldwide restaurants.

He warned that huge job losses are imminent, and commented that it would be 'common sense' to replace humans in the workplace.

Rensi told the Mirror: "I was at the National Restaurant Show yesterday and if you look at the robotic devices that are coming into the restaurant industry.

"It’s cheaper to buy a $35,000 (£24,000) robotic arm than it is to hire an employee who’s inefficient making $15 (£10.20) an hour bagging French fries.

Check this out:




-RW

(ht @Brewbane)

Elizabeth Warren: Uber Hater

She hates the fact that Uber attempts to breakdown government regulatory barriers.

Jared Mayer explains:
At a‎ speech at the New America Foundation's annual conference on May 19, Warren argued, "For many, the gig economy is simply the next step in a losing effort to build some economic security in a world where all the benefits are floating to the top 10 percent."

At some points Warren did seem to praise ridesharing for offering "more rides, cheaper rides, and shorter wait times." She also laid out the regulatory barriers that cartelize most taxi markets and create vast inefficiencies.

However, immediately after pointing out the many consumer benefits of this innovative business model, Warren ended her temporary cease fire by pointing to Uber's and Lyft's recent exit from Austin, Texas over the city's fingerprint background check requirements. She said, "[Uber and Lyft fight] against local rules designed to create a level playing field between themselves and their taxi competitors."

What Warren and other critics of the sharing economy cannot seem to comprehend is that there are two ways to "level the playing field." One is by extending antiquated, anti-competitive regulations to new technologies. The other—and far better—option is to remove these barriers so that legacy business models can adapt to new competition.
-RW

Bailout Bernie Sanders Wants to Bailout Puerto Rico

Puerto Rico is a financial mess.

Gov. Alejandro García Padilla called Puerto Rico’s debt, around $73 billion, “not payable.” The island has already defaulted on small debt payments three times. Hundreds of thousands have left the island as poverty and unemployment skyrockets. It is very likely that the US territory will also default on a July 1 debt payment of $1.9 billion.

Because of its status as a territory, Puerto Rico cannot use U.S. bankruptcy laws, and the island cannot seek help from the IMF or the World Bank as a sovereign country might.

Congress has come up with a shaky (and probably shady) solution.

House negotiators released the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) after bipartisan talks. PROMESA would institute a seven-member fiscal oversight board, the majority of whom would be selected by Congressional leaders Paul Ryan and Mitch McConnell. Puerto Ricans have no say in the board; members must have bond market and financial experience but cannot be a current or former elected official from the island. The oversight board would be able to institute more cuts, supersede local laws, lower the island’s minimum wage, and as a last resort institute a court-approved debt restructuring, as long as it is “in the best interest of creditors.”

Got that? "In the best interest of creditors,” means the money players have control and they will, for starters, squeeze the juice out of every chironja on the island.

The Puerto Rican government should reject the plan and  just continue to say, "To hell with them all." and continue to default.

Meanwhile, Bernie Sanders sees the injustice of the chironja squeeze, but his solution is to squeeze the  mainlanders (That's us Americans) so that the Puerto Rican government can pay the creditors, albeit at a discount.

His desired method of the squeeze is to call for the Federal Reserve to loan money to Puerto Rico. He does not explain where the Fed is going to get the money to make the loans, presumably by just printing it up, à la TARP.

As I note, PROMESA is shady enough, though it does appear that there will be no chironja squeeze of Americans under PROMESA.

Bernie's plan is on the other hand positively (coco)nuts, it is oppressive (to mainlanders) and keeps the incompetent Puerto Rican government and laws alive and in place.

-RW

(via Salon)

Larry Summers as Bad as Paul Krugman

But at least admits it, in WaPo:
 I cautioned that while 2009 could have seen a repeat of 1929-1933 and that did not happen, there are no grounds for complacency. 

Krugman has still not apologized for this 2012 embarrassment:




As for Summers, although I doubt he will admit this, he now sounds like the reckless Donald Trump:
  The decline in U.S. infrastructure investment is indefensible in light of recent declines in interest rates, employment opportunities and materials costs.
 -RW

Tuesday, May 24, 2016

A Supreme Court Decision Just Came Down that the Evil Cass Sunstein is Applauding

The US Supreme Court this month effectively upheld what is known as the "Auer principle," a previous decision granting government agencies massive new legislative powers, notes the Ron Paul Institute.

This is a very important discussion by Ron Paul and Daniel McAdams.



For much more on Cass Sunstein see here.

-RW

Karl Marx's Theory of the 'Injustice' of Capitalism

Richard Ebeling emails:

Dear Bob,

I have a new article on the "Capitalism Magazine" website on, "Karl Marx's Theory of the 'Injustice' of Capitalism."

In case you forgot to put it on your calendar, May 5th was Karl Marx's birthday. Bernie Sander's run for the White House in the Democratic Party primaries has breathed new life into the socialist "ideal." But it worth remembering the fundamental errors and disastrous consequences from the ideas of the leading advocate of socialism and communism over the last 200 hundred years.

Marx accused the capitalist system of being based on exploitation of the workers through capitalists expropriating a portion of the value of what they produced as their own ill-gotten profits. But not long after Marx's death in the 1880s, the Austrian Economist, Eugen von Boehm-Bawerk showed conclusively that Marx had completely misunderstood the role of profit and interest in the competitive market system, a system that in fact improves the conditions of salaried workers in society and pays them the value of their contributions to the production processes.

After the brutal and murderous experiences of socialism-in-practice in the 20th century, many on "the left" have attempted to protect Marx from the stain of its real world consequences by claiming that all these results were not what Marx "really meant" or wanted. But a careful and straight-forwarded reading of his writings demonstrates that all of those worst features of communist dictatorships and socialist central planning were exactly what Marx proposed and advocated.

Finally, there was a "good" or better side to Karl Marx, the Marx of 1842, who wrote newspaper articles arguing that communism was both impracticable  and undesirable. If only that was the Marx that had prevailed, rather than the Marx who turned into a socialist just a few years later.

http://capitalismmagazine.com/2016/05/karl-marxs-communist-theory-of-the-injustice-of-capitalism/

Best,
Richard

New Mortgage Delinquencies Near Lowest Level in 17 Years

The number of new foreclosures in the first quarter edged near the lowest level in 17 years, according to a just released report from the New York Federal Reserve.


“The proportion of overall debt that becomes newly delinquent has been on a steady downward trend and is at its lowest level since our series began in 1999. This improvement is in large part driven by mortgages,” said Wilbert van der Klaauw, senior vice president at the New York Fed.

Have I mentioned we are not in the down phase of the Fed-created boom-bust cycle?

-RW

U.S. New Home Sales Soar to Eight-Year High; Prices Surge

New U.S. single-family home sales surged to a more than eight-year high in April and prices hit a record high.

The Commerce Department said on Tuesday new home sales jumped 16.6 percent to a seasonally adjusted annual rate of619,000 units, the highest level since January 2008. The percent increase was the largest since January 1992.

The median price for a new home increased 9.7 percent from a year ago to a record $321,100.

Note to Austrian-lites: This is not what a downturn in the economy looks like.

-RW

Rapper Threatens to Kill Trump If He Takes Away His Mother's Food Stamps

Louisiana rapper Maine Muzik wants to kill Donald Trump if Trump takes his “momma’s food stamps.”



-RW

French Investigators Raid Google's Paris HQ Over Tax Case

French investigators raided Google's Paris headquarters on Tuesday as part of a probe over tax payments, a source close to the finance ministry told Reuters.

"A raid is underway at Google's," the source said, confirming a report in French daily Le Parisien.

About 100 investigators are part of the raid, Le Parisien wrote.

Reports indicate that France is seeking some 1.6 billion euros ($1.79 billion) in back taxes from Google.

France appears to be a particularly nasty place for new tech giants to operate. In addition to the harassment of Google, two Uber executives were put on trial in the country (a final judgement on the trial has not yet been handed down).  They were charged with running an illegal taxi operation, commercial deception and violating privacy laws. Soon after, Uber suspended its UberPop operation in France.

Not exactly laissez faire.

-RW

Save Puerto Rico by Setting the Island Free!

By Veronique de Rugy and Tad DeHaven

There’s an old saying about raising children that “healthy birds fly away from the nest.” Applying this concept to territories of the United States, it may be time to consider setting a timetable for Puerto Rican independence as part of any effort by federal policymakers to help the beleaguered island regain its financial health.

Puerto Rico is the largest of the United States’ territories in terms of size and population. It’s also one of the largest headaches currently facing policymakers. That’s because the Caribbean island located 1,000 miles southeast of Miami is mired in a debt crisis thanks to a long-slumping economy — an economy hindered by counterproductive federal policies and its own fiscal incompetence.

Puerto Rico’s debt obligations have reached $72 billion (roughly equal to the size of its entire economy), and thanks to lavish benefits given to government employees over the decades, it faces more than $40 billion in unfunded liabilities. The island defaulted on $400 million in debt service payments at the beginning of May, and the prospects of it making good on another $1.9 billion in early July look bleak unless it works out agreements with creditors or the federal government gets directly involved.

At this point, there’s little doubt that the latter will happen. The big question is how that involvement should be structured. Fortunately, a direct infusion of taxpayer-financed federal aid is unlikely now, though there appears to be sufficient support for legislation that would create an independent financial control board to tackle the mess. There’s a genuine concern, however, that such legislation could lead to a trampling of bondholders’ rights and provide an incentive to other states in our union — with their own growing debt problems — to hold out for help from the federal government. Other critics argue that Washington should focus on removing federal regulations that impede the island’s economic growth and force the Puerto Rican government to confront decades of fiscal profligacy.

To be sure, policymakers could help the island by exempting it from the federal minimum wage —which helped foster the island’s high unemployment rate — and the federal Jones Act, which requires shippers to use costly U.S. flagged ships that result in Puerto Rican consumers paying artificially higher prices for goods.

Read the rest here.

HEROIC: Top Economist Calls for UK's Chancellor of the Exchequer to Resign Over Brexit Propoganda

Professor Patrick Minford, a former advisor to the UK's Treasury, called for Chancellor of the Exchequer George Osborne to resign after the EU referendum following the Treasury’s “politically criminal” analysis of the impact of a Brexit vote.

Osborne claims quitting the EU could plunge Britain into a year-long recession.

The Cardiff University professor branded the 83-page document put out by the Treasury “intellectually deceitful and politically deceitful” with the Treasury having “gone into the gutter” with their “shock and horror” report.

“The big problem for the Chancellor if we vote for Brexit is that he will think it’s going to be a disaster, " Minford went on.

“Therefore I don’t think one could have any confidence that he would handle it right.

“You have to have somebody in charge who actually believes in the situation and how it can be dealt with so I think there would have to be a change.”

Minford also accused the Treasury of an “astonishing” and “crazy” assumption that Britain would keep all the same trade tariffs post-Brexit that are currently put on UK goods as an EU member.

Professor Minford said this “assumes you are a complete lunatic” as he branded the notion a bit of “Mickey Finn” slipped into the Treasury analysis to forecast a negative GDP result post-Brexit.

(via The Express)

Nigel Farage: The Speech That Might Result in BREXIT



(ht LRC)

Monday, May 23, 2016

Kid Bankster Plunges to His Death After Eating Magic Mushrooms

For the record.

Alex Lagowitz, 23,  a credit trading analyst at Bank of America Merrill Lynch, plunged to his death out of his 26th-floor window in New York City, allegedly after eating  a handful of magic mushrooms in his Manhattan apartment Sunday morning.

According to NyPo, it’s still unclear to NYPD if he purposely jumped or lost his balance and fell out the window.

His roommate, Max Kaplan, 22, was arrested and charged with criminal possession of a controlled substance for the remaining mushrooms found inside the apartment.

Lagowitz also worked at Morgan Stanley as a summer intern in 2013. In 2012, he was a summer intern at Thomson Reuters

-RW

Is Obama Headed to Vietnam to Advance Free Trade?

Be serious.

To understand what is really going on listen to "Obama in Vietnam: Diplomacy Or Deep State Duplicity?"

Government Interventionism Created Hillary Clinton and Donald Trump

Richard Ebeling emails:

Dear Bob,

I have a new article on the Future of Freedom Foundation website on, “Government Interventionism Created Hillary Clinton and Donald Trump.”

This year’s American presidential election cycle has caused confusion and concern that the choice the country faces is between Hillary Clinton and Donald Trump. How could the voting electorate in both major political parties have selected these two individuals as their nominees?


Yet, both are the product of one common denominator: the interventionist-welfare state. The “insider” Democratic Party political machine has rigged the nomination process to ward off a revolt from the more radical left offered by Bernie Sanders. Hillary epitomizes the “ideal type” of the perfect candidate using rhetoric and changing policy proposals to be all things to all interest groups to assure that the regulatory and redistributive political elite in Washington can retain and gain more power. Hillary captures the essence of the unprincipled power luster to lead the “establishment” Democratic Party plunderers.

Donald Trump, on the other hand, represents the “outsider” who is at the same time the master “insider” who knows how the political game is played. He promises revenge for all those conservative Republicans who feel betrayed by their party establishment elite who played them for suckers by using them for power to follow their own side of the Washington plunder game. And at the same time, Trump says he will fulfill the gab bag of inconsistent and contradictory promises of less government without having to cut the big government redistributive programs that many in the conservative electorate say they hate but in fact do not want to lose, either.

The end result is that regardless of which of these two candidates ends up in the White House the interventionist-welfare state will continue to prevail, and the classical liberal ideal of individual liberty, free markets, and constitutionally limited government is likely to recede further in the rearview mirror of the political process.

http://fff.org/explore-freedom/article/government-interventionism-created-hillary-clinton-donald-trump/

Best,
Richard

Boston Fed Prez: Conditions Close For a June Fed Rate Hike

The US is on the verge of meeting most of the economic conditions the Federal Reserve has set to increase interest rates next month, Eric Rosengren, the president of the Federal Reserve Bank of Boston, told the Financial Times.

“I want to be sensitive to how the data comes in, but I would say that most of the conditions that were laid out in the minutes, as of right now, seem to be . . . on the verge of broadly being met,” said Rosengren.

The idea that the Fed would never raise interest rates again after the December Fed rate hike and, indeed, that the Fed would reverse the December rate hike and possibly introduce negative rates, was an absurd perspective, held by many, including Austrian-lites, who really don't understand Austrian school business cycle theory, how markets work or what the Fed is really up to.

-RW

The Bankster Squeeze: Greece Hikes VAT, Plus New Taxes on Internet, Television, Fuel....

Greece’s parliament approved a raft of fresh taxes that the country must legislate to unlock further rescue loans, as the country’s most influential creditors—Germany and the International Monetary Fund—remain deadlocked over debt relief, reports WSJ.

The measures were backed by the 153 lawmakers from the ruling Syriza party and its junior coalition partner, the Independent Greeks, securing the majority in the 300-seat parliament late Sunday.

The measures voted on Sunday included new taxes on fuel, tobacco, alcohol, Internet, pay television, hotel stays, cars, changes in property tax, as well as a rise in the basic value-added tax rate, applied to most goods and services, to 24% from 23%.

Greece should really just default on its debt and screw the banksters. The original loans were bankster to crony government loans and have nothing to do with the average person in Greece. The average citizen shouldn't be squeezed and forced to pay. This is really outrageous. The Greek people can't even relax at home to escape the banbankster-caused misery. As they "relax," their alcohol, cigarettes, intenet, and television are taxed.

-RW

Modern-Day Pioneer Puts Tiny Nevada Town Up for Sale

By John Glionna

 Nancy Kidwell is a modern-day pioneer of the American desert, a rough-riding frontierswoman who built an entire town amid the lonely Yucca trees and sturdy sagebrush, where nothing existed before.

A half-century ago, Kidwell and first husband Slim turned a triangle-shaped gravel airstrip abandoned by the US military into a thriving community that featured a casino, store, camper van park, motel, bar and restaurant that drew high-desert wanderers from thousands of miles around.

Many travelers landed in private planes to frequent this gambling state's first-ever fly-in gaming emporium, that once advertised "seven hours of fun" where one-armed bandit aficionados could touch down in the late afternoon and taxi out that same night.

Now it's all up for sale -- a couple's dreamscape of 350 hardy residents, carved from hardscrabble land an hour south of Las Vegas, where Nevada's narrow southern tip comes within 10 miles of both California and Arizona.

Asking price: $8 million.

For the 78-year-old Kidwell, the sale is bittersweet. This patch of desert is all she's known since she and Slim first flew over the arid expanse in 1965, gawking at the isolation and sheer beauty of the spot they'd chosen to make a break from the California rat race.

- A new beginning -

But now her beloved Slim is long gone -- a victim of Alzheimer's disease in 1983 -- and Kidwell has grown weary of working seven-day weeks supervising 22 employees, playing the role of the town's mayor, police chief and sole businesswoman.

She wants to travel, maybe buy another airplane for a tour of the nation's parks -- Yosemite, Yellowstone and Gettysburg included.

"I'm going to find out what you do after you spend 51 years of your life working in one place," she said, "when you suddenly don't have to wake up at 5 am each day to get the work done."

Kidwell is selling a full square mile along US Highway 95, with 500 acres (202 hectares) of the parcel ready for immediate development.

After all, she and Slim already did the back-breaking work of building the infrastructure, bringing in utilities and digging the wells.

Years ago, when Kidwell put the town up for sale at $17 million, two developers got into a bidding war before the real estate market collapsed and her well-laid plans turned back to dust.

Now, at a mere $8 million, Kidwell is seeing sizable interest: "My broker says the whole thing has gone viral."

She has no idea what her town will become once it's sold, but has received calls from people who want to turn it into everything from a renewable energy project, motorsports park, guest ranch, survival school or shooting range.

Recently, Kidwell sat in the casino restaurant, drinking coffee and eating a biscuit and gravy, her frame still beanstalk-slim, her reddish hair worn in the same coiffed swirl she's kept for, well, forever.

Kidwell was born in rural Utah and later moved to Southern California, where the young adventuress made enough money in her airfield secretarial job to take flying lessons.

That's when she met Slim Kidwell -- she was 28 and he was 62, and the couple launched on a spring-autumn relationship that would provide the adventure of two lifetimes.

Read the rest here.

Keynes Must Die

By Llewellyn H. Rockwell, Jr.

In 2012, Barack Obama warned that the United States would fall into a depression if Ron Paul’s plan to cut $1 trillion from the federal budget were enacted.
Wait, I beg your pardon. It wasn’t Obama who warned that budget cuts would lead to a depression.
It was Mitt Romney.
Romney went on to become the nominee of the self-described free-market party.
An ideological rout is complete when both sides of respectable opinion take its basic ideas for granted. That’s how complete the Keynesian victory has been.
In fact, Keynesianism had swept the boards a decade before Romney was even born.
The General Theory of Employment, Interest, and Money, the seminal treatise by John Maynard Keynes, appeared during the Great Depression, a time when a great many people were beginning to doubt the merits and resilience of capitalism. It was a work of economic theory, but its boosters insisted that it also offered practical answers to urgent, contemporary questions like: how had the Depression occurred, and why was it lasting so long?
The answer to both questions, according to Keynes and his followers, was

Goldman Sachs Issues Massive Reading List

Goldman Sachs has put together a massive reading list for its employees.

It is divided into several sections:

  • Written About, By or For Money Managers and Traders
  • Industry Background and Flavor
  • Broad Industry History
  • Analytical and Reference
  • Periodicals
  • General
  • IMD
  • FICC & Equities
  • Options/Derivatives
Noteworthy on the list is the following:




Soros is, of course, the billionaire manipulator of markets, governments, and revolutionary protests, 

Alan Greenspan was chairman of the Federal Reserve.

Lew Rockwell discussed Secrets of the Temple here

The full list is here.

-RW