free market

Sony’s credit rating heads toward junk pile

"Japanese tech mega-corporations, including Panasonic and Sony, aren’t doing too well. After Sharp posted its most recent loss, its financial rating fell to junk status, and the company is now seeking a government bailout. Panasonic was also hit with a near-junk rating by Fitch earlier this month, after it posted a loss 30 times larger than analysts had estimated. Now, Sony—the biggest of Japan’s big dogs—can’t escape the bad news either. On Friday, Moody's downgraded Sony’s long-term debt rating from Baa2 to Baa3, one notch above junk status." Continue reading →

Continue ReadingSony’s credit rating heads toward junk pile

Christie administration files suit against 8 businesses accused of price gouging

"Governor Chris Christie, Attorney General Jeffrey S. Chiesa, and the New Jersey Division of Consumer Affairs today announced that the State has filed civil lawsuits against eight New Jersey businesses, accusing them of unlawful price gouging while consumers were in need of fuel, shelter, and other essentials during the Hurricane Sandy state of emergency. The defendants include seven gas stations and one hotel. Violations of the price gouging statute are subject to civil penalties of up to $10,000 for the first offense and up to $20,000 for subsequent offenses." Continue reading →

Continue ReadingChristie administration files suit against 8 businesses accused of price gouging

Lew Rockwell: The First 30 Years of the Mises Institute, and the Future

"Mises Institutes have been formed – spontaneously, without any direction from us – in countries all over the world, including Brazil, Poland, Canada, Switzerland, Germany, Japan, Russia, Italy, Estonia, Ecuador, Finland, Israel, Portugal, Ukraine, Romania, Sweden, Belgium, Colombia, South Africa, the Czech Republic, Latvia, and Slovakia. We have accomplished all these things without a billionaire, and without an obsessive eye to mainstream respectability. We have achieved them thanks to you, and thanks to a faculty and staff dedicated to the cause of truth." Continue reading →

Continue ReadingLew Rockwell: The First 30 Years of the Mises Institute, and the Future

Banking with a human face: ‘Bank on Dave’ for people in UK

"Banking malpractice, excessive risk taking and bonuses paid for out of taxpayer bailouts. It's little wonder that people's patience with their banks has run out. But if not the global financial giants, where you entrust your hard-earned cash? RT's Laura Smith meets one British man, who thinks, he's got the answer." Continue reading →

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Creativity vs. The State

"The free market has found a way around the government-created gas shortages and tortuous lines in NY. Sellers of gasoline have emerged on Craigslist, charging up to $30/gallon. The State is furious! How dare people make voluntary transactions with other individuals! Get back in line! 'We will do everything we can to stop unscrupulous businesses or individuals from taking advantage of New Yorkers trying to rebuild their lives,' New York Attorney General Eric Schneiderman said Monday. 'There are always people who show up when there's a crisis to take advantage of victims of a disaster.'" Continue reading →

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Amazon launches online wine store

"Amazon said the online shop would be 'a marketplace offering customers more than a thousand wines crafted by wineries around the country.' The online retail giant also provides international wines through external websites. Customers can ship up to six bottles of wine for $9.99. Wine sales are allowed only in states which allow it. That includes California, Connecticut, Florida, Idaho, Illinois, Iowa, Nebraska, Nevada, North Carolina, Oregon, Washington, Wyoming and the District of Columbia." Continue reading →

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Intrade Was Right: Obama, Senate, House

"I never doubted Intrade's results after the Senate fell from 53-47 for the Republicans to 20-80 against. There was no 'margin of error' worth talking about in any of the three betting markets: President, Senate, or House. There comes a time to face up to reality. The reality is this: the polls are no match for the accuracy of betting sites when a large number of people are betting. All of the money spent on polling was wasted. All of the emotion spent on assessing the polls was wasted." Continue reading →

Continue ReadingIntrade Was Right: Obama, Senate, House

How to Fix the Gas Shortage: Let ’em Gouge

"A lot of people suppose that the anti-gouging laws are a remnant of some puritan past, like laws that ban buying alcohol on Sundays. But they aren’t. The first one was passed in New York in 1979 in response to rising heating oil prices, according to an essay on the laws by Michael Gibberson published in Regulation last year. Three more states adopted similar laws in the 1980s, eleven more in the 1990s, and 16 in the last decade. These aren’t ancient blue laws—they are a growing legal innovation. Again you’re probably asking: why? As it turns out there is one set of actors who does benefit from these laws—politicians." Continue reading →

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Unlicensed Contractors ‘Preying on Homeowners’, Says Media

"Unlicensed contractors are coming out of the woodwork after Sandy, warns NBC. Why, these vermin are actually going door-to-door, luring you in with low, low prices! One of the criminals (2:08) even brought a state-of-the-art boom truck, all the better to deceive vulnerable storm victims. Thank goodness the heroic license-checker shows up just as this lowlife is preparing to adapt his expertise to the task at hand. 'We’re taking a tree off somebody’s house [for crying out loud],' he pleads. Ha! That’s what they all say!" Continue reading →

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Switzerland Will Continue to Thrive and Outperform

"Currency markets have a history of rewarding countries that are free. Why is that? Freer countries have the tendency to avoid over-taxation, over-regulation and support policies that promote freedom and innovation. Freer floating currency regimes allow market forces to play a role in determining value. Market forces and (truly) democratic systems, and particularly the Swiss system of direct democracy, create feedback mechanisms to help keep the excesses of government in check." Continue reading →

Continue ReadingSwitzerland Will Continue to Thrive and Outperform