Monthly Archives: September 2013

All Government Policies Succeed in the Long Run

"Many people, for good reason, have concluded that the surest test of whether a politician or public official is lying is to ask, Are his lips moving? An equally simple test may be proposed to determine whether a seemingly failed policy is actually a success for the movers and shakers of the political class. This test requires only that we ask, Does the policy remain in effect? If it does, we can be sure that it continues to serve the interests of those who are actually decisive in determining the sorts of policy the government establishes and implements." Continue reading →

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California Approves $10 Minimum Wage; What Will Become Automated Now?

"The next time you pump gas for yourself ask yourself what happened to the gas station attendants that used to pump gas and wash your windshields. The same thing when you can't find a department store clerk. It's the same thing with those damn automated phone answering services that most firms now use, it's just too expensive to hire human operators. And its the same with grocery store baggers from days of old. Thank you minimum wage. The damage of minimum wage isn't some theoretical, you have just gotten so use to it that you have forgotten what things were like, or you are too young to know the good old days." Continue reading →

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Swiss Fund Centralway Invests $250k In Bitcoin Exchange Buttercoin

"Swiss company builder Centralway is opening a new seed and early stage investment arm that will invest $50 million per year into 20 to 30 startups — including both small seed-stage investment and larger Series A rounds. It said its 'preferred case' will be to do a smaller investment at the seed stage, followed by larger investment into the same company at a later round. Buttercoin‘s model is to open a local Bitcoin exchange in each country where it operates — starting with Europe (where it’s due to launch in around two months’ time) — and then partner with local money transfer businesses to gain legal compliance in the country." Continue reading →

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Canadian billionaire predicts end of US Dollar as world’s reserve currency

"Canadian billionaire businessman Ned Goodman predicts the end of the U.S. Dollar as the world's reserve currency. He predicts the transition out of the U.S. Dollar will become, '...quite ugly.' He delivered the lecture at Cambridge House's Toronto Resource Investment Conference 2013 on Thursday, September 12, 2013." Continue reading →

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Everything’s Fixed, Everything’s Great

"Much to the amazement of doom-and-gloomers, everything's been fixed and as a result, everything's great. The list is impressive: China: fixed. Japan: fixed. Europe: fixed. U.S. healthcare: fixed. Africa: fixed. Mideast: well, not fixed, but no worse than a month ago, and that qualifies as fixed. Everything's fixed, because everybody that can create their own money can do so without limit or consequence. It's a perpetual money machine, and that fuels a perpetual growth machine. No limits on credit and debt means no limit on spending. Free money for everyone and everything--it's unbelievably easy. The solution to every problem is at hand: create more money and credit, in ever larger sums." Continue reading →

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A Rare Sign of Fiscal Sanity in France

"France’s state auditor urged the government Tuesday to redouble efforts to limit spending rather than increases taxes… He said 'the spiraling welfare debt was particularly abnormal and particularly dangerous.' During his first year in power, President François Hollande relied on large tax increases to plug holes in public finances, including social programs such as pensions, unemployment benefits and health care. But economic stagnation in 2012, coupled with a mild recession at the start of 2013, has waylaid the plan, while both companies and households are crying foul over what some have called 'a tax overdose.'" Continue reading →

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Muslim beauty pageant challenges Miss World

"Muslim women in headscarves and elaborately embroidered dresses took to the stage Wednesday for the finale of an Islamic beauty pageant in Indonesia, a riposte to the Miss World contest that has sparked hardline anger. 'We’re just trying to show the world that Islam is beautiful,' Obabiyi Aishah Ajibola, a 21-year-old contestant from Nigeria, told AFP backstage in the capital, Jakarta, before the final got under way. 'We are free and the hijab (Muslim headscarf) is our pride,' she said, adding that the pageant was 'nothing like Miss World, where women expose their bodies'." Continue reading →

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No more beauty contests for kids in France

"The French senate has approved a proposal to ban beauty contests for girls under 16 to prevent what a parliamentary report called the 'hyper-sexualisation' of children. The measure follows a parliamentary report 'Against Hyper-Sexualisation: A New Fight For Equality' which called for a ban on child-size adult clothing, such as padded bras and high-heeled shoes. 'Let us not make our girls believe from a very young age that their worth is only judged by their appearance,' said the author of the report, former sports minister Chantal Jouanno. According to the proposal, organisers of such beauty pageants could face up to two years in prison and a 30,000-euro ($40,000) fine." Continue reading →

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France’s new ‘cat cafe’ is predictably full of rescued kitties

"France’s first 'cat cafe' opens on Saturday in Paris with an in house troupe of nine rescue cats ready and waiting to be made a fuss of by cat-loving customers. Already popular in Tokyo where there are dozens, cat cafes allow customers who cannot have a pet at home to enjoy a cup of something hot with a purring cat perched on their knees. Margaux Gandelon, the woman behind the new Cafe des Chats in Paris’s trendy Marais district, says the cats were carefully selected for their social skills and stresses that hygiene and their welfare are her top priorities." Continue reading →

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Dutch King tells citizens ‘to take responsibility’ as austerity implemented

"The king, who travelled through the streets of The Hague to address MPs and senators in an ornate horse-drawn golden carriage, said the transformation would be particularly noticeable in social security and long-term healthcare policies. The trade-dependent Dutch economy is in the fourth quarter of a recession and is struggling even as other European countries return to growth. The austerity measures will reduce Dutch households’ purchasing power by 0.25 percent in 2014. The budget announcement came with the government in free-fall in opinion polls. A poll said that the ruling Liberal-Labour coalition would lose around half its seats in parliament were elections held now." Continue reading →

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