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Senior Italian parliament economist on Ludwig von Mises and the current economic crisis

Senior Italian parliament economist on Ludwig von Mises and the current economic crisis

“The vision Mises had about inflation as an illusion imposed is not so far from the Ricardian idea that government bonds are not net wealth, since future generations will have to bear their burden. Inflation and public debt, then, are two sides of the same coin, because they create substantial intergenerational redistributive effects that policy makers cannot evaluate ex-ante. We are realising today how accurate Mises was in his predictions. Mises had these issues clear in his mind and implicitly warned central bankers of the risk of losing money to its real meaning and of exposing the economy to the risk of currency devaluation.” Continue reading

Crushing the Middle Class

Crushing the Middle Class

“The policies of central banks, combined with those of overbearing government, are crushing the middle class and with them the single most important bastion of democracy. Students of history recognize this trend as dangerous. People who believe that society offers no hope of improvement are often willing to enlist in open class warfare and subscribe to the views of dangerous demagogues. Perhaps this is the direction that Washington, Brussels, and Tokyo want to go? We should take great efforts in spreading the word that freedom is good for everyone, not just the rich.” Continue reading

Uncle Sam’s Growing Student Loan Portfolio

Uncle Sam’s Growing Student Loan Portfolio

“The federal government used to subsidize student borrowing not only by providing loans directly to students, but also by guaranteeing many private loans. In 2009, however, Congress eliminated private guarantees and dramatically expanded direct federal lending. The government’s portfolio of student loans has since increased from about $90 billion at the start of fiscal 2008 to more than $560 billion today. As a result, the government’s financial investments now total about $1.1 trillion, essentially all of which was financed by borrowing. The debt supporting Uncle Sam’s investment portfolio thus accounts for almost 10 percent of the $11.9 trillion in public debt.” Continue reading

Student Loan Debt Will Exceed Median Annual Income For College Grads By 2023

Student Loan Debt Will Exceed Median Annual Income For College Grads By 2023

“In 10 years, the average amount of debt college students leave school with will equal what the median graduate will earn in just a year, an analysis exclusive to The Huffington Post revealed. This conclusion was drawn from a study conducted by the policy and communications consulting firm Hamilton Place Strategies. The study found that while average student debt at graduation has skyrocketed by 200 percent since 1993, income growth has stagnated. In 2012, the median income for all college graduates was $46,412 while average student loan debt was $28,720, the study found.” Continue reading

The Internet Archive Rescues Bitcoiners From Banking Oblivion

The Internet Archive Rescues Bitcoiners From Banking Oblivion

“Yes, the Internet Archive. The outfit that so diligently records our web history also runs its own bank — The Internet Archive Federal Credit Union, or IAFCU, based out of New Brunswick, New Jersey. And when Hockenhull needed somewhere to turn, Internet Archive founder Brewster Kahle gave him the means to keep his company alive. Since then, the IAFCU has taken on a half-dozen Bitcoin businesses, such as BitBox, giving them a critical link to the U.S. financial system. The Internet Archive’s role as the backer of one of the country’s most Bitcoin-friendly financial institutions is a bit of an unlikely tale.” Continue reading

Nevada Supreme Court Overturns Traffic Stop From Questionable Cop

Nevada Supreme Court Overturns Traffic Stop From Questionable Cop

“The Nevada Supreme Court on Wednesday threw out a traffic stop performed by a state trooper caught lying in a job application in a way that ‘would have been enough to result in his termination.’ As he ran a check on Beckman’s license and registration, Trooper Pickers told his partner that he suspected criminal activity because there were fingerprints on the trunk of Beckman’s car. He asked for a drug dog to be sent out. Before Beckman could leave, Trooper Pickers asked him whether he could search his vehicle. Beckman refused, so he was told he was no longer free to leave and that he would have to wait for the drug dog to arrive.” Continue reading

FDA approves first brain wave test for ADHD

FDA approves first brain wave test for ADHD

“US regulators on Monday approved the first brain wave test for attention deficit hyperactivity disorder, saying it may improve the accuracy of diagnoses by medical experts. Cases of ADHD are on the rise in the U.S., as are the number of prescriptions for stimulants doled out to young people who appear to have difficulty concentrating or controlling impulses. The new test, known as the Neuropsychiatric EEG-Based Assessment Aid (NEBA) System, measures electrical impulses given off by neurons in the brain. ‘The theta/beta ratio has been shown to be higher in children and adolescents with ADHD than in children without it,’ the FDA said.” Continue reading

From Murder to Mob Ties, Three N.Y. Politicians Make Unlikely Comebacks

From Murder to Mob Ties, Three N.Y. Politicians Make Unlikely Comebacks

“Disgraced former New York politicians Eliot Spitzer, left, and Anthony Weiner are looking to make their comebacks. Spitzer, the former governor, is now running for the office of New York City comptroller while the former U.S. congressman is running for mayor of New York. These men are only recent examples in a long history of New York politicians who have had to redefine their careers after scandal.” Continue reading