Ash Heap Of History

Mises’ Answer to Would-Be Conspirators: You Will Lose

"The heart, mind, and soul of Austrian school economics is this: the free market provides better information and better incentives to satisfy customers than any rival system can ever offer. Therefore, the free market will grow at the expense of central planning. The decentralized decisions of people with money -- decisions informed by market pricing -- will be more accurate than the centralized decisions of any committee. This is why I really do not pay a lot of attention to the Bilderberg, the Council on Foreign Relations, and the Trilateral Commission. Ultimately, they are going to lose, just as their British equivalents and predecessors lost, 1914-1945. The digital genie is out of the bottle." Continue reading →

Continue ReadingMises’ Answer to Would-Be Conspirators: You Will Lose

Russian spokesman mocks Britain, the little island

"Britain has faced questions about its role and influence in the world since Mr Cameron was embarrassed by last week’s Commons vote to rule out a military strike against Syria. Dmitry Peskov, Mr Putin’s official spokesman, is said to have highlighted that embarrassment, telling Russian journalists that Britain was now diplomatically irrelevant. Britain is 'just a small island … no one pays any attention to them', Mr Peskov is reported to have said. The blunt remarks appeared to realise British fears that the Russians would use the St Petersburg summit to upstage Mr Cameron over his criticism of Syria, Russia’s closest Middle Eastern ally." Continue reading →

Continue ReadingRussian spokesman mocks Britain, the little island

Even John McCain Is Having Second Thoughts about Drug Prohibition

"What do John Stossel, Mona Charen, Gary Johnson, Pat Robertson, Cory Booker, and Richard Branson all have in common? And let’s add voters from the states of Colorado and Washington to this list. So what unites this unusual collection of people? They’ve all expressed doubts about the War on Drugs. And that’s a good thing. As explained in this video, the Drug War has been a very costly failure. Indeed, it’s been such a boondoggle that we can now add John McCain to the list of those who think maybe it’s time to consider decriminalization." Continue reading →

Continue ReadingEven John McCain Is Having Second Thoughts about Drug Prohibition

Why Cash Costs the U.S. Economy Real Money

"With all the buzz about Bitcoin, PayPal (EBAY), Google Wallet (GOOG), and all the other innovations in digital currencies, it’s easy to forget that cash remains remarkably resilient. In part, that’s because the cost of using it is often hidden to the users themselves. Chakravorti, along with co-author Benjamin Mazzotta, says that’s especially true for those who don’t even have a bank account. The unbanked are four times more likely to pay fees to get their own money, yet are also more likely to trust cash and feel comfortable carrying around large amounts." Continue reading →

Continue ReadingWhy Cash Costs the U.S. Economy Real Money

Another 1.8 Million People Just Ditched Cable TV

"Another quarter, another dismal set of numbers for the TV business. About1.8 million people ended their cable TV subscriptions in Q2 2013, according to analysts at SNL Kagan. Where are all the cord-cutters going? Here's one theory: As the availability of free WiFi increases, folks whose primary access to video and the web is on mobile devices and tablets — the young and the poor, in other words — have a less urgent need for subscriber services. The pay TV business is still huge, of course. But the losses in old-fashioned cable are not being gained by telco/internet suppliers who also supply TV." Continue reading →

Continue ReadingAnother 1.8 Million People Just Ditched Cable TV

Pot Apocalypse Looms, Marijuana Foes Warn

"Not everybody is happy with Thursday's Justice Department announcement that it would not interfere with taxed, regulated, and legalized marijuana in Colorado and Washington. While the announcement was greeted with accolades (and some questions) by the drug policy reform community, opponents of marijuana law reform were up in arms and prophesying hellfire and damnation. Despite the bitter disappointment of the prohibitionists, marijuana law reform is moving forward, and the momentum is only likely to accelerate in the years to come. We may see in a few years if their dire warnings are correct -- if the country is still standing, that is." Continue reading →

Continue ReadingPot Apocalypse Looms, Marijuana Foes Warn

Drug use doubles among U.S. baby boomers and seniors

"For adults aged 50 to 54, the rate more than doubled from 3.4 percent in 2002 to 7.2 percent last year. For those aged 55 to 59, it more than tripled from 1.9 percent to 6.6 percent. 'Among those aged 60 to 64, the rate increased from 1.1 percent in 2003 to 3.6 percent in 2012,' the report added. Marijuana — ranked on par with heroin under federal law, despite a trend towards legalization at the state level — was the most commonly used illegal drug. Current use between 2007 to 2012 grew from 5.8 percent to 7.3 percent of the overall population, and the number of Americans who used marijuana daily or almost daily grew from 5.1 million in 2007 to 7.6 million in 2012." Continue reading →

Continue ReadingDrug use doubles among U.S. baby boomers and seniors

Mexico’s Vicente Fox pushes marijuana debate to forefront

"Former President Vicente Fox grew up on a farm here in rural Guanajuato, one of Mexico's most conservative states. He is the kind of guy who wears big belt buckles, collects hand-tooled saddles and worships the free market. Fox has always fancied himself a policy maverick. And these days, the former standard-bearer of Mexico's conservative National Action Party, or PAN, has emerged as one of Latin America's most outspoken advocates of marijuana legalization. This summer he has significantly ramped up his efforts. In June, he declared that he would grow the plant if it were legalized and added that he'd like to see marijuana sold in Mexican convenience stores." Continue reading →

Continue ReadingMexico’s Vicente Fox pushes marijuana debate to forefront

Kentucky agriculture head: Grow hemp, we’ll see what Justice Department does

"Kentucky’s Commissioner of Agriculture James Comer said Attorney General Eric Holder’s announcement last week of changes in the Justice Department’s marijuana policy could mean that the state can move ahead with industrial hemp farming. Comer intends to forge ahead with industrial hemp in hopes that federal policy will continue to mellow with regards to marijuana. 'This is going to happen sooner than many of us thought,' said Comer. Comer is sanguine enough about the outcome that he is already courting hemp processing companies in hopes that they will do business in the state. Kentucky Sen. Rand Paul (R) issued a statement supporting Comer on Wednesday." Continue reading →

Continue ReadingKentucky agriculture head: Grow hemp, we’ll see what Justice Department does

With Enemies Like This, Who Needs Friends?

"The U.S. government pursued its vindictive course against Manning to send a message to other potential whistleblowers. The problem is, those whistleblowers — among them Snowden — got the message loud and clear. What Snowden learned is, you don’t work within the system through normal channels, and you don’t play the 'civil disobedience' game and take your punishment, unless you want to spend years naked in solitary awaiting trial and then be sentenced to most of your life in prison. You get the information distributed in secure places, get yourself safely out of the country, and then make your move. The next whistleblower will do it even bigger and better, and learn from Snowden’s example." Continue reading →

Continue ReadingWith Enemies Like This, Who Needs Friends?