Mad Statists

Detlev Schlichter: Is present monetary policy rational?

"Deflation is not such a bad thing if you have to live on your savings or a modest, nominally fixed payment stream. Additionally, reshuffling the economy’s deck of cards could also offer opportunities. Tearing down the old structures and allowing the market to price things honestly again, according to real risks and truly available savings, may at first cause some shock but ultimately bring new possibilities. The present monetary policy is inherently conservative. It bails out those who got it wrong in the recent crisis at the expense of those who didn’t even participate in the last boom." Continue reading →

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Federal Europe will be ‘a reality in a few years’, says commission president

"The president of the European Commission has fanned the flames of British debate over EU membership by insisting that fiscal union in the eurozone will lead to 'intensified political union' for all 27 member states. 'This is about the economic and monetary union but for the EU as a whole,' he said. 'The commission will, therefore, set out its views and explicit ideas for treaty change in order for them to be debated before the European elections.' 'We want to put all the elements on the table, in a clear and consistent way, even if some of them may sound like political science fiction today. They will be reality in a few years' time.'" Continue reading →

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European Commission to criminalize nearly all seeds and plants not registered with government

"A new law proposed by the European Commission would make it illegal to 'grow, reproduce or trade' any vegetable seeds that have not been 'tested, approved and accepted' by a new EU bureaucracy named the 'EU Plant Variety Agency.' It's called the Plant Reproductive Material Law, and it attempts to put the government in charge of virtually all plants and seeds. Home gardeners who grow their own plants from non-regulated seeds would be considered criminals under this law. Gardeners must also pay fees to the EU bureaucracy for the registration of their seeds." Continue reading →

Continue ReadingEuropean Commission to criminalize nearly all seeds and plants not registered with government

In Argentina, More Official Lying About Basic Economic Facts

"How much inflation is there? Who can buy dollars legally? Who really runs the economy? Last Friday these questions tripped up Angel Toninelli, one of the directors general of the Administración Federal de Ingresos Públicos, the national tax agency. Toninelli admitted that he did not really understand the inner workings of the approval process for obtaining foreign currency to travel abroad. 'It is a formula that changes periodically,' he said in answer to a question. 'It contains ingredients that come from the central bank, the A.F.I.P., and others that come from God,” he explained, adding, 'It isn’t the Coca-Cola formula, but it’s very similar.'" Continue reading →

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Starting an online store in Greece is no easy business

"It took 10 months, a fat bundle of paperwork, countless certificates, long hours of haggling with bureaucrats and overcoming myriad other inconceivable obstacles for one group of young entrepreneurs to open an online store. Antonopoulos and his partners spent hours collecting papers from tax offices, the Athens Chamber of Commerce and Industry, the municipal service where the company is based, the health inspector’s office, the fire department and banks. At the health department, they were told that all the shareholders of the company would have to provide chest X-rays, and, in the most surreal demand of all, stool samples." Continue reading →

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Globalist Euro Disaster: Euro Founder Endorses Bust-Up

"Lafontaine like other Eurocrats knew full well what he was doing when he helped inflict this monstrous mess. The result has been of late bloodshed, massive unemployment, the ruin of whole families, the disruption of the hopes and dreams of literally hundreds of millions. Europe lies in ruins with no near-term hope of recovery and European cultures and prosperity are being flattened by this damnable Euro dreadnaught. Only one thing is 'up' in Europe these days it sometimes seems. And that is suicides. And Lafontaine is sorry. And he has changed his mind." Continue reading →

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How To Make A Quick $1,944,000

"Buy a truckload of cigarettes in Virginia and sell them in New York. Yeah, it's illegal. But that's how much can be made from selling a tractor trailer's worth (that's 800 cases, each holding 600 packs of cigarettes) of low-tax Virginia cigarettes in high-tax New York, based on estimates from the Bureau of Alcohol, Tobacco, Firearms and Explosives. And that's exactly what criminals are doing. In 2011, more than 60% of all cigarettes sold in New York were smuggled in from another state, according to the Mackinac Center for Public Policy, a free-market think tank. That's up from about 36% in 2006." Continue reading →

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Bill Bonner: Does the Fed help make people better off?

"There were voices in the Fed, said the news, urging caution. There would be no further monetary stimulus measures, said the commentators. Investors grew cautious. Then, by the end of the week, investors were rolling the dice again. The Fed was working hard to fight the impression that it had either lost its nerve or recovered its senses. With the wind of the Fed at their backs, investors put out full sail. On Friday, they were skimming along nicely, riding high on a tide of EZ money. 'Don't fight the Fed,' said the analysts. The Fed is pumping...stocks are going to rise. Of course, it's not that simple. Zimbabwe pumped. Stocks rose...for a while." Continue reading →

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The hidden dangers of legal highs

"In comparison with regular drugs, there is hardly any data on the harm these new drugs do. Manufacturers in the UK, China and eastern Europe take any of these chemicals or dozens more, blending them with inert substances into uncontrolled, unstated doses, and selling them online. These products, with names such as Barry White and Dutchy, are the most concerning: customers are very often young people, some of whom find it hard to buy drugs anywhere else, or prefer to stay on the right side of the law. Manufacturers do not list their contents, or give any dosage instructions, since to do so would render them liable for prosecution." Continue reading →

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Spain: This Is What A Permanent Underclass Looks Like

"Spain is in a great depression, and it is one of the most terrifying things I have ever seen. Five years after its housing boom turned to bust, Spanish unemployment hit a record high of 27.2 percent in the first quarter of 2013. It's almost too horrible to comprehend, but 19.5 percent of the total workforce has not had a job in the past six months; 15.3 percent have not in the past year; and 9.2 percent have not in the past two years. You can see this 1930s-style catastrophe in the chart below from the National Statistics Institute." Continue reading →

Continue ReadingSpain: This Is What A Permanent Underclass Looks Like