Archive for January, 2012

Manufactured spectacle at Oakland

Tuesday, January 31st, 2012

The police toss smoke grenades, not tear gas grenades, a short distance upwind, between themselves and the protestors.

This is not riot control, it is a manufactured photo opportunity


Manufacturing the appearance of significance

Observe the hand motion.  He is tossing a smoke grenade just in front, not at the protestors.  If you are wondering how heavily outnumbered protestors accomplished their goal  of occupying the city hall, despite announcing it at least a day in advance, the above photo explains the inexplicable.


Why Bernanke is not panicking

Sunday, January 29th, 2012

The stimulus is finally taking effect.  As Zimbabwe and the Wiemar Republic demonstrate, one thing that governments armed with the ability to print fiat money really can do is stimulate.

From 2009 May to 2011 November total business sales in dollars rose twenty six percent, ten percent a year, which to me, though not to Bernanke, looks like good reason to scream panic and hit the brakes, to raise real interest rates to at least normal levels, and arguably higher. (more…)

Ben Bernanke pledges to throw gasoline on the fire

Thursday, January 26th, 2012

Bernanke pledges to keep interest rates low for at least the next two years – meaning real interest are several percent negative.  Large negative interest rates rapidly lead to economic crisis.

“The low level of inflation is a validation,” Bernanke said. “There are some who were very concerned that our balance-sheet policies and the like would lead to high inflation. There’s certainly no sign of that yet.”

Really?  Sales have gone up ten percent in nominal value, which only makes sense if the real rate of inflation is seven to ten percent.  The US economy is on fire, and Bernanke pledges to continue throwing gasoline on the flames. (more…)

Not the cognitive elite

Wednesday, January 25th, 2012

According to Murray, in the bad old days of elitism, the university was full of good old boys, rather than the smartest, but now, our elite are a bunch of really smart guys.

Leading climate scientist Michael Mann and Nobel Prize winning economist Paul Krugman are really smart guys? The guys who write the New York Times are really smart? (more…)

Inflationary crisis?

Thursday, January 19th, 2012

According to the US census, estimated monthly sales have gone up ten percent in dollars between 2010 November and 2011 November.  Have living standards gone up?  Clearly living standards are falling.  Total physical volume of goods shipped by rail has been falling over the past year, consistent with the general experience of falling living standards.  Can anyone explain what is going on?  This looks to me like slightly worse than ten percent year on year inflation, which is the inflation rate at which a significant risk of panicked flight from paper money sets in.  Am I misreading these numbers in some silly way?

There is a lot of ruin in a nation.  I have been predicting that we will probably not see hyperinflationary collapse for several years.  I find this data surprising and confusing. Either we are booming, or we are inflating, and it does not feel like we are booming.

The latest evil from Google

Wednesday, January 18th, 2012

Google has recently been nailed in two more scandals: cold calling ignorant Kenyans with a scam offer and scary lies about Google’s competitor, and vandalizing open source maps which competes with Google Maps.

While Google is wonderfully politically correct, and would never dream of suggesting that black people are stupid, the scam service they are selling in Kenya is predicated on the assumption that black people are stupid.

Burning the past

Saturday, January 14th, 2012

We are in the greatest era of book burning ever.  Libraries systematically destroy their older books, without allowing staff to go through the books and sort out the valuable ones, the ones that would bring enormous prices on

This destruction allows a new past to be written, a demonized and hate filled past. (more…)

Mitt Romneycare, enemy of capitalism

Thursday, January 12th, 2012

Mitt Romneycare tells us:

In the general election I’ll be pointing out that the president took the reins at General Motors and Chrysler – closed factories, closed dealerships laid off thousands and thousands of workers – he did it to try to save the business.

Now that is an unusual strategy for winning elections. (more…)

Economic Decline

Wednesday, January 11th, 2012

The BLS is arguably understating inflation and unemployment. (more…)

Ron Paul, only non leftist left standing

Wednesday, January 4th, 2012

The three major candidates are Governor Romneycare, the man who provided the model for Obamacare, Ron Paul, and Rick Santorum.

Rick Santorum’s nephew tells us:

When Republicans were spending so much money under President Bush, my uncle was right there along with them