History Repeating

Obama Agrees with Hitler on Schooling Children

"In a legal case that seems headed to the US Supreme Court, the Department of Justice (DOJ) has sided with Hitler against parental rights. Romeike v. Holder involves a German family which is seeking asylum in America because Germany has threatened to remove the Romeike's younger children if they continue to homeschool. In 1938, Adolf Hitler ordered all German children to be educated either in state schools or in government-approved private schools that strictly followed the Nazi blueprint. The Reichsschulpflichtgesetz (Compulsory Education Law), which specifically banned home schooling, remains in force in Germany today." Continue reading →

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Seven killed, 261 wounded in Cairo clashes over military coup

"The clashes in the heart of Cairo and in adjacent Giza were the first to rock the Egyptian capital since dozens of Morsi supporters were shot dead outside an elite army barracks early last week. They came just hours after Under Secretary of State Bill Burns — the most senior US official to visit since the army toppled the elected Islamist president on July 3 — appealed for an end to the violence rocking the Arab world’s most populous nation. Thousands of Morsi supporters had poured onto the streets after the iftar meal with which Muslims break their daytime fast during the holy month of Ramadan, to demand the reinstatement of the ousted president." Continue reading →

Continue ReadingSeven killed, 261 wounded in Cairo clashes over military coup

Seven killed, 261 wounded in Cairo clashes over military coup

"The clashes in the heart of Cairo and in adjacent Giza were the first to rock the Egyptian capital since dozens of Morsi supporters were shot dead outside an elite army barracks early last week. They came just hours after Under Secretary of State Bill Burns — the most senior US official to visit since the army toppled the elected Islamist president on July 3 — appealed for an end to the violence rocking the Arab world’s most populous nation. Thousands of Morsi supporters had poured onto the streets after the iftar meal with which Muslims break their daytime fast during the holy month of Ramadan, to demand the reinstatement of the ousted president." Continue reading →

Continue ReadingSeven killed, 261 wounded in Cairo clashes over military coup

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 →

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

Does Free Money Exist?

"The social credit crackpottery of the 1930s has returned, wrapped in the robes of Neo-Nazi statism. Those boosting it wrap their rhetoric in anti-banker sentiments, but make no mistake: A meme of this magnitude is a Tavistock-like promotion. These people use the rhetoric of libertarianism to arrive at terrifyingly statist conclusions. The state wiped out some 150 million people in the 20th century, and we would actually think it's a lot more. The upshot of social credit is a fascist society in which only the biggest corporations survive, in league with the government itself. And these ideas are gaining traction." Continue reading →

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Internet Fascism and the Surveillance State

"This has been a common historical pattern in the rise of totalitarian States, which have often sought to incorporate large business concerns into their network of power. Indeed, the very notion of 'public-private partnerships' in this sector readily brings to mind the worst aspects of fascist economic systems that have historically existed. The actions of US companies that have cooperated in the NSA’s mass surveillance operations calls into question the 'private' status of these companies. In many ways these companies have acted as an extension of the US government, providing information illegally, in exchange for privileges and intelligence." Continue reading →

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Renewed fear of global recession as companies rein in spending plans

"Growth in spending on machinery and investment by the world’s 2,000 biggest companies has begun to contract for the first time since the Lehman crisis, led by sharp falls in China and a near collapse in Latin America. Company spending plans are watched as an early warning gauge for the economy. The drastic falls in large parts of the world doom hopes for strong recovery later this year, and even point to a recession risk.The International Monetary Fund has cut its global forecast for this year to 3.1pc, sharply downgrading Russia, Brazil, South Africa, India and Mexico, as well as Italy and Germany." Continue reading →

Continue ReadingRenewed fear of global recession as companies rein in spending plans

Constitutional crisis pushes Portugal closer to the brink

"Yields on 10-year Portuguese bonds jumped to 7.85pc in a day of turmoil, kicked off by a government request to delay the next review of the country’s EU-IMF Troika bail-out until August. President Anibal Cavaco Silva set off a constitutional crisis when he vetoed a reshuffle by the two conservative coalition parties, insisting on a red-blue national unity government with greater legitimacy to see through austerity cuts until mid-2014. Socialist leader Antonio José Seguro has so far refused to take part, demanding fresh elections to clear the air. Some Socialist leaders have threatened debt repudiation as a way of fighting back at Germany and the creditor powers." Continue reading →

Continue ReadingConstitutional crisis pushes Portugal closer to the brink

Ben Bernanke as Easter Bunny: Why the Fed Can’t Prevent the Coming Crash

"If you use a zero percent return, it's easy to figure out how much you need to save. If you want to work for 30 years, and live in retirement for 30 years, then you should save 50 percent. If you want to work for 40 years, and live in retirement for 10 years, you should save 25 percent. And so on. Over the last two decades or so, savings rates have ranged from single digits to slightly negative. In rough terms, zero percent. So as a nation, we have essentially no savings and face very low future returns. The inference is simple: We will need to increase savings drastically." Continue reading →

Continue ReadingBen Bernanke as Easter Bunny: Why the Fed Can’t Prevent the Coming Crash

Japan says it faces increasing threats from China, North Korea

"Japan faces increasingly serious threats to its security from an assertive China and an unpredictable North Korea, a defense ministry report said on Tuesday, as ruling politicians call for the military to beef up its ability to respond to such threats. The report, the first since hawkish Prime Minister Shinzo Abe took office vowing to boost Japan's defenses, was likely to prompt a sharp response from Beijing, whose ties with Tokyo are strained by a territorial row. China is also upset by remarks from Abe suggesting he wants to cast Tokyo's wartime history in a less apologetic tone." Continue reading →

Continue ReadingJapan says it faces increasing threats from China, North Korea