for life and liberty

Long Term US Interest Rates Hit Two Year High

"Long-term interest rates are on the climb again in the United States. Below is a chart showing the interest rate of the 10-year Treasury note since June, 2011. The rate hit a 2-year high today. This despite Fed bond purchases. In the EPJ Daily Alert, I have forecast that this is the start of a multi-year climb in rates. Despite absurd comments by members of the Fed that price inflation is below target, the MIT billion prices index shows price inflation is above target at around 2.5%. Buckle your seat belt." Continue reading →

Continue ReadingLong Term US Interest Rates Hit Two Year High

Bernanke, Coolidge, and Buchanan: On Timing Your Departure

"Under him, the country suffered the worst economic setback since the Great Depression. He used the printing press to bail out some large banks and a few over-leveraged investment firms. He served as Hank Paulson's silent potted plant. He addicted the American economy to what amounts to hyperinflation of the monetary base. The commercial banks are not lending. The recovery is barely functioning. The economy has sustained its worst performance since the Great Depression. He has been in charge the entire time. He is trying to get out with his reputation intact. He is likely to make it, and whoever follows him will likely not make it." Continue reading →

Continue ReadingBernanke, Coolidge, and Buchanan: On Timing Your Departure

Obama Narrows Field for Fed Chairman to 3

"The proof that none of them deserve the job is that they all want the job. Given that interest rates are climbing, that price inflation is not far behind, that we are likely headed for stagflation and that there is $2 trillion in excess reserves overhanging the economy, you really have to be clueless to want the job. There is no way the next Fed chair is going to look like anything other than a bumbling incompetent. It is dumb to want the position." Continue reading →

Continue ReadingObama Narrows Field for Fed Chairman to 3

Bernanke: A Tenure of Failure

"Can Fed policy get worse under the leadership of either Dr. Yellen or Dr. Summers? Most definitely YES. Unfortunately leadership of the Fed is not the only problem. An institution that relies on good leadership to avoid harm to the economy and the nation is not a good institution. If banks and other financial institutions should not be too big to fail, neither should the Fed. While in the perception of too many, the Fed is both too big and too important to fail, it is an institution that not only could be, but has been, a complete failure." Continue reading →

Continue ReadingBernanke: A Tenure of Failure

America Is a Tax Haven…and That’s a Very Good Thing

"While there are many bad things about the American tax system (including pervasive double taxation and a very uncompetitive corporate tax system), one of few redeeming features of our tax system is that we are a tax haven. Not for Americans, of course, but it turns out we have some good rules for foreigners. I’ve already noted that Delaware is one of the world’s best tax havens because of its attractive incorporation policies, but we also have very attractive federal tax rules. Foreigners take advantage of these policies in ways that attract huge amounts of money to the American economy – more than $25 trillion according to the Commerce Department!" Continue reading →

Continue ReadingAmerica Is a Tax Haven…and That’s a Very Good Thing

Bitcoin: newest frontier in e-money management

"Over the last year, many wealthy Russians lost billions of euros in the Cyprus economic crisis. The Russian government announced plans to intentionally weaken the ruble - plans that were never realized, but which caused quite a scare. President Vladimir Putin banned government officials from holding bank accounts and securities abroad. Historically, the Russian ruble has been a tumultuous currency, suffering major fluctuations throughout the 20th century. For those distrustful of Russia's financial institutions, then, Bitcoin's decentralized basis in math and code may provide an increasingly viable alternative." Continue reading →

Continue ReadingBitcoin: newest frontier in e-money management

The New York Times Company Sells the Boston Globe at a 96% Loss

"The New York Times Company bought the Boston Globe in 1993 for $1.1 billion. It just sold it for $70 million. But we must factor in price inflation. At 1993′s prices, the Times Company paid the equivalent of $1.75 billion today. So, the company lost a staggering 96%. This shows where print newspapers are headed: down. This also shows where the New York Times is headed: down. American liberalism has bet the farm on three institutions: newspapers, network television, and the education system. All three are under assault by the Internet. The profits are shrinking for newspapers and network television." Continue reading →

Continue ReadingThe New York Times Company Sells the Boston Globe at a 96% Loss

It looks like the inside of a private jet but this is actually the inside of a humble Mercedes van

"A luxury car customising company has unveiled its latest creation - a van which has been turned into a five-star hotel-style suite. Lexani Motorcars has created the Reale which is an armoured Mercedes-Benz B6 Sprinter. The company based in Corona, California, calls it the 'ultimate' in personal security. The stunning inside area is dripping in the finest fixtures and fittings to make it the ultimate mobile home from home. It is lined with Alcantara suede and features handcrafted fine leather seats, a galley kitchen, luxury lavatory with ceramic toilet and gold-plated sink, marble floors, and even a hidden coat rack." Continue reading →

Continue ReadingIt looks like the inside of a private jet but this is actually the inside of a humble Mercedes van

Swiss solar aircraft returns from cross-US flight

"Crowds of spectators welcomed the solar-powered aircraft Solar Impulse on Monday as it returned to Switzerland onboard a jumbo jet following its successful trans-American flight. A Boeing 747 jumbo carrying the prototype aircraft of aviation pioneer Bertrand Piccard landed at Dübendorf airfield in the canton of Zurich just after 7am, the Tages-Anzeiger newspaper reported. Pilots Piccard and André Borschberg completed the historic flight from San Francisco in early July. The world’s first solar aircraft able to fly both day and night powered solely by the sun flew 5,650 kilometres across the United States." Continue reading →

Continue ReadingSwiss solar aircraft returns from cross-US flight