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The
only historical period that bears any resemblance to what is happening
today is the 1970s. Then, and now, an oil price shock turned into a
rise in the general price level. Both then and today, central banks
largely accommodated this price rise. It was a mistake then and is a
mistake now.
Monetary policy
has been excessively accommodating for more than a decade, building up
excessive inflationary
pressures in the global economy....
The
paved Road to Hyper-Stagflation
A Story Bankers and their Big
Media don't tell
Prices
for rice, corn, wheat and
oil have doubled over the
last 12 months. With half of the world's population living on less than
2 US$ a day the price hikes caused food riots in many
countries and even oil price
protests in Europe. Meanwhile the FED continues to print new money at
the rate of 18%/yr
and EU's m3 is at 12%. Real
inflation already hits 7% and
-if the money printing continues- could reach 15% within 12-18 months,
necessitating rate hikes
with massive failures as a result. It is the excessive money printing which
caused the credit crunch
helped by mortgage fraud and
the derivates orgy. The
crisis will
continue to deepen for another 24 months. Europe's
growth is fake: the wealth produced by its
army of bureaucrats is
imaginative. The
the nominal contribution to GDP of the public spending orgy is in
reality
worthless, causing
even more inflation. Monetary
tension is building up
and European interest rate
spreads widen rapidly. Italy
and Greece could soon be
forced to
leave
the Common Currency, which would cause a worldwide collapse of
confidence in
the Euro and in our whole fiat monetary system. A
worldwide disaster
is in the making and just
as in 1929, the architects
of the desaster
are our Central
Bankers.
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Tax
Competition & Tax Cartels
Tax
competition between
countries is good. International tax
agreements that organise tax harmonisation are bad. Tax competition
compels
governments to
economic use of public resources. It stimulates efficient public
services, prevents wasteful public
spending and saves taxpayers money.
Learn
the Logic ethics and Benefits
of of
Tax competition
in this
5 min Video
by
Daniel J.
Mitchell Ph.D. (CF&P)
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You
can shear a sheep many times,
but
you can only skin it once..."
It's
only when the tide goes out that you learn who's been swimming naked.
(W.Buffet)
States are aggressive entities which steal property through taxation
and expropriation, initiate physical force, create monopolies,
and restrict trade. States today are as normal as slavery was in the
old days.
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Short Messages
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For
the 13th year in a row Auditors refuse
to approve the European Union budget.
12 % of regional spending was not
accounted for. Farm subsidies got to Horse-breeding
and golf courses
The
rise of anti-Americanism in Europe is a danger to both American and
European pocketbooks, and our collective liberty. Here is why: Europe
and America are each other's biggest trading and investment partners,
and anything that damages that relationship is harmful to everyone
involved.
by Jan
Krzysztof Bielecki
More
social spending by EU governments
is not the best way to reduce inequalities, and can have unintended
consequences, says Jan Krzysztof Bielecki, a former Prime Minister of
Poland. He argues that the fastest route to cohesion both between and
within member states is freer movement of people, capital and services
How
poor are the American Poor ?
Poverty
is an important and emotional
issue. Last year, the
Census Bureau released its annual report on poverty declaring
that
there were 37 million poor persons living in the United
States
in 2005. 12.6 percent of
all Americans. This number has varied from 11.3 percent to 15.1
percent of the population over the past 20 years. To understand poverty
in America, it is important to look behind these numbers—to look at the
actual living conditions of the individuals the government deems to be
poor. Official data show 43% of them own a three bedroom
dwelling. 80% enjoy air conditioning, 75% have a car and 31% of the
poor families even have two vehicles. American poor on average dispose
of 114 m² living space. Substantialy more than the European
agerage of poor ànd wealthy families together: 86 m² in
Belgium and 85m² in
the UK.
This analysis of the Heritage Foundation learns many
american poor
are in fact much better of than most of the European wealthy
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Using
data from the
U.S. Census Bureau, the Goldwater Institute finds High-tax and
-spending states suffer increases in poverty rates, both general
and
in childhood poverty rates. The paper provides scientific
evidence
that private-sector job growth is the most effective antipoverty
program.
Policymakers who seek to reduce poverty and improve the
lot of the poor should embrace policies promoting as much
private-sector growth as possible, and therefor reduce taxes and limit
the growth of public spending. Contrary to dogmatic beliefs and
special interest claims by those those employed by the government
programs the paper demonstrates that the promotion
of Big Government, high taxes and public
spending
destroy wealth and actually hurt the poor.
The
Laffer Curve explained
In these short
Youtubes, Dan
Mitchell
explains the relationship between
tax rates
and tax revenue, and the reasons
why marginal tax revenu
declines
when tax rates increase. Historical examples
proove the case for moderate tax rates.
by
Daniel J. Mitchell Ph.D.
Part
1 Part 2 Part 3
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by
Christian Bjørnskov,
Axel Dreher and Justina Fischer
High
public spending does not only cause slow economic growth. Big
Government also significantly lowers the quality of life. This
is the main conclusion of an empirical research into the
effects of government involvement in the economy and into the question
whether public involvement is conducive
or detrimental to life
satisfaction in a cross-section of 74 countries.
Christian Bjørnskov,
Axel Dreher and Justina Fischer provide a test of a longstanding
dispute between standard neoclassical economic theory, which predicts
that government plays an unambiguously positive role for individuals’
quality of life, and public choice theory, that was developed to
understand why governments often choose excessive involvement and
regulation, thereby harming voters’ quality of life. Results of the
empirical research show that life satisfaction decreases with higher
government spending.
This negative impact of the
government is stronger
in countries with a leftwing median voter. It is alleviated by
government effectiveness – but only in countries where
the state sector is already
small.
pdf format here....
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The Clean Energy Scam
Analysis Behind and
Beyond Government Economic Reporting 
