Monty Pelerin's World » 2011 September

The Entitlement Frankenstein

economy, ethics, Favorites, Government, law, morality Tagged with: Hugh Smith, Social Welfare, Welfare Payments, Work Ethic

Sep 302011

The notion of entitlements has been carried far beyond that of a social welfare net. Entitlements are now overblown and unsustainable. They have been used as vote-buying schemes by politicians willing to promise anything to gain or retain office. They

Bread and Circus Purveyors

Government Tagged with: Boudreaux, politicians, Show Ponies

Sep 302011

Don Boudreaux describes President Obama’s abilities very nicely: He knows no more about the economic matters upon which he pronounces than does a soap-opera actor portraying a physician know about cardiology or obstetrics. Bryan Caplan presented the above quote in his

The Washington Cesspool

ethics, Government, law, morality Tagged with: Government Corruption, Independent Referee

Sep 292011

The immorality of the US government should, by now, be apparent to most. Designed to be an independent referee, government is instead an active participant in the game. It has vested interests in outcomes including favorite winners and losers. The

Gold and Silver

gold, Investing Thoughts, markets, stock Tagged with: Mish, precious metals, Selloff, Treasuries

Sep 282011

As everything gets crushed, it is natural to get out of Mr. Market’s destructive path. Although there will be all sorts of conflicting advice and recommendations, standing aside for a while appears to be prudent. That doesn’t necessarily mean leaving

Geithner’s Whorehouse Bank

Government, Insolvency Tagged with: Bruce Krasting, Favoritism, Federal Financing Bank, Taxpayer Money

Sep 272011

The deception and corruptness of our Federal Government slowly is being revealed. Much of it is a result of the investigation and analysis of bloggers. Under the hypothesis that sunlight is the best disinfectant, Bruce Krasting’s report on the Federal Financing

Johnny Cashless Explains The Economy

economy, humor Tagged with: humor, Johnny Cashless

Sep 272011

Johnny Cashless explains our plight: Video Share/Save Download article as PDF

Markets, Democracy and Socialism

all other, Government, Regulation, spending Tagged with: Democratic Socialist Society, Free Market Economy, John Locke

Sep 262011

The Telegraph had this to say about the debate over the welfare state: The truly fundamental question that is at the heart of the disaster toward which we are racing is being debated only in America: is it possible for a free

Obama’s Spending Plan Versus What Can Be Afforded

Government, spending Tagged with: Obama, Spending

Sep 262011

This chart from Ironman shows Obama’s spending plans: Share/Save Download article as PDF

Princeton Economics, Not So Bad After All

knowledge Tagged with: American Academy Of Arts And Sciences, Angus Deaton, Ben Bernanke, Cornel West, Paul Krugman

Sep 252011

Princeton economist Angus Deaton on the emotional aspects of discussing politics: “People appear to dislike politics and politicians so much that prompting them to think about them has a very large downward effect on their assessment of their own lives,”

Marc Faber Agrees Re Redd Fox’s “Big One”

economy, Fed, Media Tagged with: Marc Faber, Redd Fox, Video Marc

Sep 242011

I am glad to see that my analysis yesterday, Redd Fox’s “Big One?”, is in agreement with the views expressed in this video. Marc Faber has been ahead of the curve on our declining situation. He sees no reason for

Redd Foxx’s “Big One?”

Bernanke, economy, Favorites, Fed, gold, Government, Investing Thoughts, markets Tagged with: economy, Redd Fox, Stock market

Sep 232011

As I write this, the Dow has dropped about 700 points in barely over one full trading day. Fed Chief Ben Bernanke spoke on Wednesday afternoon and markets did not like what they heard. Right before his announcement yesterday, the

Economic Intervention Metastasizes Gangrene Here, There and Everywhere

economy, Government, Keynesian Tagged with: Crisis Interventions, Free Market Economy, gangrene

Sep 232011

I think the description by Peter Tchir is a reasonable analogy of the economic situation. Be forewarned, it isn’t pretty. But neither is our economic condition! It’s possible that the problems in sovereign debt in Europe continue to get worse

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Random Favorites

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Random Quotes

The supreme power in America cannot enforce unjust laws by the sword; because the whole body of the people are armed, and constitute a force superior to any band of regular troops that can be, on any pretence, raised in the United States. Noah Webster
The New Deal began, like the Salvation Army, by promising to save humanity. It ended, again like the Salvation Army, by running flop-houses and disturbing the peace. H. L. Mencken
Let the people think they govern and they will be governed. William Penn
Unquestionably, there is progress. The average American now pays out twice as much in taxes as he formerly got in wages. H. L. Mencken
I like to believe that people in the long run are going to do more to promote peace than our governments. Indeed, I think that people want peace so much that one of these days governments had better get out of the way and let them have it. Dwight D. Eisenhower
If you ever injected truth into politics you have no politics. Will Rogers

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