Tag Archives: Government

Why Your Dog Doesn’t Own Your Entire House, and the Government Doesn’t, Either

I wrote recently about some views expressed by Elizabeth Warren and certain politicos of a previous era to the effect that the government has every right to take at least a big chunk of your earnings and, in some expressions, even your entire earnings for purposes the rulers stipulate.

Nearly ten years ago, the great political philosopher Anthony de Jasay wrote a charming little essay related to this matter called “Your Dog Owns Your House.”  There, he spells out some of the ways in which such sweeping claims—by your dog or the rulers—are incoherent, absurd, and indefensible, and he sketches how to think more sensibly about the issue.

One sees upon even a small amount of reflection that the kind of reasoning advanced by Warren and her predecessors proves too much. Yes, if your dog did not ward off burglars, you might have lost all your household possessions; hence your dog’s diligence in some sense accounts for everything you have. ……….

 

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Ron Paul And Eisenhower Are Right

We are watching the destruction of an empire. All empires must go away sometime. They are natural things. And nature puts a time bomb in everything she creates.

The U.S. empire is doomed. Just like all the others that went before it. It is doomed by nature herself — condemned by the gods to blow up and die.

None of this should be surprising. We’ve seen this movie before. Hundreds of empires have come and gone. We know how this movie ends. More or Less.  What we know for sure is that the U.S. is going broke. There is hardly any other plausible outcome. We’ve gone over the numbers so often we don’t need to repeat them.

 

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Obama to ask for debt limit hike: Treasury official

(Reuters) – The White House plans to ask Congress by the end of the week for an increase in the government’s debt ceiling to allow the United States to pay its bills on time, according to a senior Treasury Department official on Tuesday. ………

 

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Will this proposal once overlooked, be noticed this time?

Is it Time for a New Declaration of Independence?

Recently there has been much discussion of the eradication of the panoply of fundamental principles of liberty by the Congress and attempts to convert the President into a totalitarian dictator with historic powers to apprehend and indefinitely detain American citizens. This author has questioned whether the permission for the absolute abuse of power soon to be codified as part of the National Defense Authorization Act is not a greater act of tyranny than any perpetrated by George III that precipitated the waging of America’s war for independence.

The “long train of abuses” of which Britain’s crown was accused are enumerated in the Declaration of Independence. This historic indictment of King George III was penned principally by Thomas Jefferson and was laid out in a manner both methodical and lyrical. It stood on the rooftops and decried for the all the world to hear the despotic measures levied against the American colonies by the government of Great Britain.
As our own modern government passes one after the other laws eroding the bedrock of freedom upon which our Republic was built after the successful waging of the war against English oppression, the specific examples of the abuse of power cited in the Declaration of Independence may prove prophetic and may help to enlighten 21st-century Americans and embolden them in their efforts to restore liberty and the constitutional boundaries of government.
To this end, several organizations have been founded that seek to cause the drafting of a second document that would declare our independence from a federal authority that has grown unwieldy, unaccountable, and unchecked in its exercise of unconstitutional power. …………….

Guest Post: Worse Than 2008

There are clear signs of a liquidity crunch in the asset markets right now, and the question I keep hearing is, Is this 2008 all over again?

No, it’s worse. Much worse.

In 2008 there was a lot more faith and optimism upon which to draw. But both have been squandered to significant degrees by feckless regulators and authorities who failed to properly address any of the root causes of the first crisis even as they slathered layer after layer of thin-air money over many of the symptoms.

Anyone who has paid attention knows that those “magic potions” proved to be anything but. Not only are the root causes still with us (too much debt, vast regional financial imbalances, and high energy prices), but they have actually grown worse the entire time.

As always, we have no idea exactly what is going to happen and when, but we can track the various stresses and strains, noting that more and wider fingers of instability increase the risk of a major event. Heading into 2012, there’s enough data to warrant maintaining an extremely cautious stance regarding holding onto one’s wealth and increasing one’s preparations towards resilience.

Here’s the evidence:

  • Oil prices higher now than in 2009
  • Derivatives up more than $100 trillion since 2009
  • Government debts exploding
  • Weak GDP growth
  • Europe in trouble
  • Small investors leaving the market
  • China hitting a wall

One of the most important things we need to track is simply untrackable, and that is market perception. When faith in a faith-based money system vanishes, the game is pretty much over. …

 

Guest Post: Worse Than 2008

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