Part 3 of 3: An American Renaissance, The Road To Peace and Prosperity: Faith, Family, Friends, and Freedom ~ First — Videos

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 Story 1, Part 3 of 3: An American Renaissance, The Road To Peace and Prosperity: Faith, Family, Friends, and Freedom ~ First — Videos

Part 3

Controlling Leviathan: The Battle for Limited Government

Question and Answer Session: The Fight Against Big Government

Free Markets and Small Government Produce Prosperity

Visualizing the growth of federal regulation since 1950

Eight Reasons Why Big Government Hurts Economic Growth

Milton Friedman On John Maynard Keynes

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus

Keynes the Man: Hero or Villain? | Murray N. Rothbard

There Are too Many Bureaucrats and They Are Paid too Much

government-employees-by-level-by-year2All-Employees-of-U.S.-GovernmentFederal-of-Workforce-1939-2013101207-federal-employees-chart

TAKE IT TO THE LIMITS: Milton Friedman on Libertarianism

Can We Eliminate the Department of Education? (Charles Murray)

Downsizing the Federal Government

Agriculture: Downsizing The Federal Government

Downsize the Department of Agriculture

Downsize the Department of Education

Downsize the Department of Energy

Downsize the Department of Health and Human Services

Downsize the Department of Labor

Ron Paul Lecture – “The Great Enabler: The Rise of the Federal Reserve and the Growth of Government”

“How the Federal Bureaucracy Undermines American Liberty”

Want Less Corruption? Shrink the Size of Government

Big Government Is Stifling The American Spirit- Intelligence Squared U.S.

Richard Epstein, The Classical Liberal Constitution

Milton Friedman – Whats wrong with welfare?

The Classical Liberal Constitution by Richard Epstein: Book Discussion

The Classical Liberal Constitution: The Uncertain Quest for Limited Government
by Richard Epstein

The Classical Liberal Constitution: Panel 1: Constitutional Structure

The Classical Liberal Constitution: Panel 2: Individual Rights

The Classical Liberal Constitution: Panel 3: Constitutional Methodology

United States federal executive departments

From Wikipedia, the free encyclopedia

The United States federal executive departments are among the oldest primary units of the executive branch of the federal government of the United States—the Departments of State, War, and the Treasury all having been established within a few weeks of each other in 1789.

Federal executive departments are analogous to ministries common in parliamentary or semi-presidential systems but, with the United States being a presidential system, their heads otherwise equivalent to ministers, do not form a government (in a parliamentary sense) nor are they led by a head of government separate from the head of state. The heads of the federal executive departments, known as secretaries of their respective department, form the traditional Cabinet of the United States, an executive organ that serves at the disposal of the president and normally act as an advisory body to the presidency.

Since 1792, by statutory specification, the cabinet constituted a line of succession to the presidency, after the Speaker of the House and the president pro tempore of the Senate, in the event of a vacancy in both the presidency and the vice presidency. The Constitution refers to these officials when it authorizes the President, in Article II, section 2, to “require the Opinion, in writing, of the principal Officer in each of the executive Departments, upon any Subject relating to the Duties of their respective Offices.” In brief, they and their organizations are the administrative arms of the President.

Executive Departments of the present

All departments are listed by their present-day name and only departments with past or present cabinet-level status are listed. Order of succession has always included the Vice President (1) as the first in line; at times – including presently – the Speaker of the House (2) and the President pro tempore of the Senate (3) have also been included.

Department Creation Order of
succession
Notes 2009 Outlays
in billions
of dollars
Employees
State 1789[1] 4 Initially named “Department of Foreign Affairs”. 16.39 18,900
Treasury 1789[2] 5 19.56 115,897
Justice 1870[3] 7 Position of Attorney General created in 1789, but had no department until 1870 46.20 112,557
Interior 1849[4] 8 90.00 71,436
Agriculture 1862[5] 9 134.12 109,832
Commerce 1903[6] 10 Originally named Commerce and Labor; Labor later separated 15.77 43,880[7]
Labor 1913[8] 11 137.97 17,347
Defense 1947[9] 6 Initially named “National Military Establishment” 1947-49. Created as a subsuming—from executive to sub-executive status—of the Departments of The Navy and War (which split into the Departments of the Army and Air Force). 651.16 3,000,000
Health and Human Services 1953[8] 12 Originally named Health, Education, and Welfare; Education later separated 879.20 67,000
Housing and Urban Development 1965[10] 13 40.53 10,600
Transportation 1966[11] 14 73.20 58,622
Energy 1977[12] 15 24.10 109,094
Education 1980[13] 16 45.40 4,487
Veterans Affairs 1989[14] 17 Formerly an independent agency as the Veterans Administration 97.70 235,000
Homeland Security 2002[15] 18 40.00 208,000
Total outlays, employees:         $2,311.30B 4,193,144

Seals

Executive Departments of the past

Department Dates of Operation Notes
Department of War 1789–1947 Renamed Department of the Army in 1947
Post Office Department 1792–1971 Reorganized as quasi-independent agency, United States Postal Service
Department of Commerce and Labor 1903–1913 Divided between Department of Commerce and Department of Labor
Department of the Army 1947–1949 From 1947-1949, these departments were executive departments with non-cabinet level secretaries who reported to the civilian Secretary of Defense with cabinet rank but no department. From 1949 on, they were Military Departments within the Department of Defense[16]
Department of the Navy 1798–1949
Department of the Air Force 1947–1949
Department of Health, Education, and Welfare 1953–1979 Divided between Department of Health and Human Services and Department of Education

See also

Notes

  1. Jump up^ “Office of the Historian – Milestones – 1776-1783 – Articles of Confederation”. History.state.gov. Retrieved 2012-12-29.
  2. Jump up^ “History”. Treasury.gov. 2012-10-22. Retrieved 2012-12-29.
  3. Jump up^ “USDOJ: About DOJ”. Justice.gov. 2009-09-30. Retrieved 2012-12-29.
  4. Jump up^ “History of Interior”. Doi.gov. Retrieved 2012-12-29.
  5. Jump up^ http://www.usda.gov/documents/timeline.pdf
  6. Jump up^ “Secretaries | Department of Commerce”. Commerce.gov. Retrieved2012-12-29.
  7. Jump up^ “Department of Commerce FY 2009 Budget in Brief”. Osec.doc.gov. Retrieved2012-12-29.
  8. ^ Jump up to:a b “The U.S. Department of Labor Historical Timeline – U.S. Department of Labor”. Dol.gov. Retrieved 2012-12-29.
  9. Jump up^ “About The Department of Defense (DOD)”. Defense.gov. Retrieved2012-12-29.
  10. Jump up^ “HUD History/U.S. Department of Housing and Urban Development (HUD)”. Portal.hud.gov. Retrieved 2012-12-29.
  11. Jump up^ [1][dead link]
  12. Jump up^ “Department of Energy Organization Act” (PDF). U.S. Department of the Interior. U.S. Bureau of Reclamation. Retrieved August 4, 1977. Check date values in: |accessdate= (help)
  13. Jump up^ “Overview and Mission Statement | U.S. Department of Education”. .ed.gov. Retrieved 2012-12-29.
  14. Jump up^ Department of Veterans Affairs. “History – VA History – About VA”. Va.gov. Retrieved 2012-12-29.
  15. Jump up^ “Creation of the Department of Homeland Security | Homeland Security”. Dhs.gov. Retrieved 2012-12-29.
  16. Jump up^ Stewart, Richard W., ed. (2005). “Chapter 24: Peace Becomes Cold War, 1945-1950”. American Military History. Army Historical Series II. United States Army. pp. 531–533. Retrieved 2011-03-23.

References

http://en.wikipedia.org/wiki/United_States_federal_executive_departments

Part 2

US Debt Clock.org

http://www.usdebtclock.org/

Ep. 12: AN ANIMATED FILM ON THE DEBT & THE DEFICIT | Marshall Curry

US Debt Crisis – Perfectly Explained

The Collapse of The American Dream Explained in Animation

George Carlin on the American Dream

chart

The bar chart comes directly from the Monthly Treasury Statement published by the U. S. Treasury Department..The “Debt Total” bar chart is generated from the Treasury Department’s “Debt Report” found on the Treasury Direct web site. It has links to search the debt for any given date range, and access to debt interest information. It is a direct source to government provided budget information.

“Deficit” vs. “Debt”—Suppose you spend more money this month than your income. This situation is called a “budget deficit”. So you borrow (ie; use your credit card). The amount you borrowed (and now owe) is called your debt. You have to pay interest on your debt. If next month you spend more than your income, another deficit, you must borrow some more, and you’ll still have to pay the interest on your debt (now larger). If you have a deficit every month, you keep borrowing and your debt grows. Soon the interest payment on your loan is bigger than any other item in your budget. Eventually, all you can do is pay the interest payment, and you don’t have any money left over for anything else. This situation is known as bankruptcy.

“Reducing the deficit” is a meaningless soundbite. If theDEFICIT is any amount more than ZERO, we have to borrow more and the DEBT grows.

Each year since 1969, Congress has spent more money than its income. The Treasury Department has to borrow money to meet Congress’s appropriations. Here is a direct link to the Congressional Budget Office web site’s deficit analysis. We have to pay interest* on that huge, growing debt; and it dramatically cuts into our budget.

2016-budget-chart-spending-revenue-percent-of-gdp

 federal-government-spending-problem-680

where-did-your-tax-dollar-go-680budget-entitlement-programs-680 spending-cuts-680federal-spending-per-household-680 national-defense-spending-680 americas-deficit-federal-spending-680senate_budget_deficits social-security-benefit-payments-680

Sen Rand Paul on Baseline Budgeting

Ending Baseline Budgeting | House GOP Twitter Response

2014 U.S. Federal Budget: Taxes & Revenue

2014 U.S. Federal Budget: Budget Process

2014 U.S. Federal Budget: Social Insurance, Earned Benefits, & Entitlements

2014 U.S. Federal Budget: Debt and Deficit

US Congress has raised the debt ceiling 78 times since 1960

Baseline Budgeting

Rep. Louie Gohmert Applauds The Baseline Reform Act

Baseline Budgeting Explained

Underwhelming Spending Cuts from Congress and Obama

Understanding the National Debt and Budget Deficit

Part 1

fairtax

fair_tax_factst

FairTax: Fire Up Our Economic Engine (Official HD)

The FairTax: It’s Time

Flat Tax vs. National Sales Tax

Dan Mitchell Discussing Federal Tax Burden on CNBC

Eight Reasons Why Big Government Hurts Economic Growth

Dan Mitchell Explaining How Government Screws Up Everything

What is the FairTax legislation?

Cato Institute Senior Fellow Daniel J. Mitchell

How does the FairTax rate compare to today’s?

What assumptions does the FairTax make about government spending?

How does the FairTax rate compare to today’s?

Is the FairTax truly progressive?

How does the “prebate” work?

Will the prebate create a massive new entitlement system?

Wouldn’t it be more fair to exempt food and medicine from the FairTax?

Is it fair for rich people to get the same prebate as poor people?

If people bring home their whole paychecks how can prices fall?

How does the FairTax impact the middle class?

Why is the FairTax better than a flat income tax?

Is the FairTax rate really 23%?

Is consumption a reliable source of revenue?

How does the FairTax affect compliance costs?

Isn’t it a stretch to say the IRS will go away?

Can I pretend to be a business to avoid the sales tax?

How does the FairTax affect tax preparers and CPAs?

Are any significant economies funded by a sales tax?

How will the FairTax affect state sales tax systems?

Can’t Americans just cross the border to avoid the FairTax

How will Social Security payments be calculated under the FairTax?

Will the FairTax impact tax deferred retirement accounts like 401(k)s?

How will the FairTax® make the tax system fair for everyone?

What’s the difference between the FairTax® and the income tax?

How will the FairTax® help me save money?

Why Should Grandparents support FairTax®?

Congressman Woodall Discusses the FairTax

“The Case for the Fair Tax”

Freedom from the IRS! – FairTax Explained in Detail

John Stossel speaks to the Fair Tax Rally

Sen. Moran Discusses FairTax Legislation on U.S. Senate Floor

Mind blowing speech by Robert Welch in 1958

Robert Welch Speaks: In One Generation (1974)

comparison

GOP Taxonomy: The Flat Taxers and the Fair Taxers

by Aman Batheja

During his last run for president, Rick Perry often pulled a postcard out of his jacket pocket.

“The best representation of my plan is this postcard, which taxpayers will be able to fill out to file their taxes,” Perry said.

While Perry proposed an optional 20 percent flat tax on all income levels, the other Texan running that cycle, Ron Paul, wanted to get rid of the income tax altogether. The former Surfside congressman sometimes suggested replacing it and other federal taxes with a sales tax, a concept often described as the Fair Tax.

As the 2016 landscape begins taking shape, potential Republican candidates are suggesting an interest in being both flat and fair, embracing some version of Perry’s 2012 proposal as the first step toward reaching Paul’s ideal.

Take U.S. Sen. Ted Cruz, R-Texas, whose talk on taxes has sounded strikingly similar to Perry’s at times.
“We should let taxes become so simple that they could be filled out on a postcard,” Cruz wrote in a column for USA Today in October.

Yet while Cruz has called for converting the country’s progressive income tax system to a flat tax, his office confirmed that the Fair Tax is his long-term goal.

“The senator supports a Fair Tax, ultimately,” spokeswoman Catherine Frazier said. “However, the most immediate, effective way to implement comprehensive tax reform is to pass a simple flat tax — so simple that Americans can file on a postcard. This should be the starting point for reform, and once it’s in place we should pursue a Fair Tax.”

Another presidential contender, U.S. Sen. Rand Paul, R-Ky., has also voiced support for a flat tax, but still prefers the vision of his libertarian father, Ron Paul.

“I’ve never said I don’t support a sales tax,” Rand Paul told The Texas Tribune recently while in Dallas. He explained that he viewed moving the federal tax system to a flat tax as “an easier concept to get through a legislature because you’re modifying the existing code.”

More broadly, Rand Paul said he was interested in stimulating economic growth by reducing the federal taxes overall.

“We’ve kind of lost that argument in recent years because many Republicans, including many in Washington, now simply argue for revenue neutral tax reform, which stimulates nothing,” Paul said.

For former Arkansas Gov. Mike Huckabee, those talking about the flat tax as a bridge to the Fair Tax are missing the point.
“Gov. Huckabee has said many times the Fair Tax is a flat tax, but it’s based on consumption rather than on punishing our productivity,” spokeswoman Alice Stewart said.

Another potential presidential contender, former Florida Gov. Jeb Bush, delivered a speech on taxes and income inequality this week in Detroit that reportedly included support for simplifying the tax code, but did not include specific policy proposals.

Critics of both flat tax and Fair Tax proposals dismiss them as regressive plans that would amount to tax cuts for higher-income households while increasing the tax burden on middle-class households. But conservatives argue that dramatically simplifying the tax code, or moving to a tax system focused more on consumption than earnings, would be more transparent, simpler and better for the economy in the long run.

Cal Jillson, a political science professor at Southern Methodist University, said discussion of flat taxes and consumption taxes works well politically with Republican voters, but described them as “pie-in-the-sky, no-way-in-hell” proposals that won’t ever muster enough support in Congress.

“When you talk about tax reform in an environment that is politically polarized as ours, it’s hard to see how you get majority support, let alone a bipartisan package that could be taken to the public by both parties,” Jillson said. “It’s a way of saying, ‘I have no sense of doing anything practical.’ ”

While Cruz and Rand Paul have already signaled their positions, Perry, who has been meeting with dozens of policy experts to prepare for a second White House run, may end up tweaking his earlier flat tax plan.

“He supports simplifying the tax code, lowering rates for working families, and closing loopholes,” spokeswoman Lucy Nashed said. “Gov. Perry is continuing to work on policy proposals and will announce specific ideas at the appropriate time.”

http://www.texastribune.org/2015/02/08/flat-tax-fair-tax/

National Review: The FairTax Makes a Comeback

by: Ryan Lovelace

Republican senator David Perdue of Georgia sounds an awful lot like President Obama when he describes his plan to overhaul the tax code, which would repeal federal taxes and replace them with a consumption tax known as the “FairTax.”

“[The FairTax] really levels the playing field in that regardless of who you are, where you are, you’ll pay your fair share, and it will be the same amount,” Perdue tells NRO. “It will be equitable.”

Perdue couches his description of the FairTax in rhetorical terms — “levels the playing field,” “pay your fair share,” “equitable” — that could’ve come straight out of Obama’s State of the Union address, and that’s no accident. Whatever the political prospects of the proposal — it has failed over and over again when proposed in the past, and it is expected to meet a similar fate this time around — it could allow the GOP to seize the mantle of economic populism from the Democrats, and, in so doing, to “win” tax reform in the eyes of voters. That’s important, because tax-reform legislation is one of the few big, ostensibly bipartisan efforts the new Congress is expected to undertake, and the scramble to take credit for it ahead of the 2016 presidential election will be fierce.
The FairTax legislation put forward in the Senate by Perdue, his fellow Georgia Republican Johnny Isakson, and their colleague Jerry Moran (R., Kan.), was written with 2016 in mind. Perdue says that on Tuesday, before listening to Obama announce his desire to raise taxes once again, he and Isakson discussed the importance of their work in influencing the debate on tax reform. Perdue — the successful manager known for his ability to turn around businesses and revive brands – says he hopes to help move 2016 GOP presidential candidates in the direction of the FairTax.

The proposal itself is relatively simple: It would eliminate all federal income, payroll, gift, and estate taxes, and replace them with a 23 percent national sales tax. In addition to making the U.S. economy more competitive on a global scale and putting people back to work, the plan would strip the IRS of its ability to interfere in the lives of ordinary Americans, according to the conservative freshman from Georgia. Other longtime proponents of the idea agree, and argue that by replacing a system that taxes an individual’s earnings with one that exclusively taxes that same individual’s spending, it would allow each citizen the freedom to determine his own tax burden.

Perdue’s hopes for 2016 notwithstanding, the FairTax has not been a winning issue in past Republican presidential primaries. A number of GOP primary candidates, from Mike Huckabee in 2008 to Herman Cain in 2012, have failed to win the nomination while championing the proposal. And it will still be a loser come 2016, says Ryan Ellis, the  tax-policy director at Grover Norquist’s Americans for Tax Reform. “If this thing [the FairTax] was going to catch on as the next great hot thing, it would have,” Ellis says. “It’s not a practical tax-reform plan for governing, it’s something that people wish, aspirationally, they could put out there.”

The tax-reform proposals with the best chance of succeeding in Congress — and helping Republican candidates win in 2016 — are those that move incrementally toward the FairTax’s goals without overhauling the system in one fell swoop, Ellis says. Such proposals would likely combine some of the FairTax’s reforms — such as repealing the death tax and capital-gains taxes — with measures aimed at broadening the tax base of higher-income individuals. The winning formula to achieve fundamental tax reform, according to Ellis, is a plan that is pro-growth, pro-family, and “paid for by, as much as you can, rich guys.”

But those who warn that the FairTax lacks political viability only give more motivation to Rob Woodall (R., Ga.), the lead sponsor of FairTax legislation in the House of Representatives.

“That’s what I love about this bill: Washington hates this bill,” Woodall says. “There are all sorts of forces in town that discourage this kind of giant reform, but it’s being marketed at a grassroots level.”

Woodall’s Georgia district has a history of electing FairTax proponents to Congress. Woodall’s seat was previously occupied by John Linder, a tireless champion who first introduced the FairTax bill in 1999, and reintroduced it in each new Congress until he retired in 2011. He never succeeded in changing the law, but he did quite a bit to build support in his home state.

As Americans for Fair Taxation president Steve Hayes tells it, Atlanta-based radio talk-show host Neal Boortz is largely responsible for getting the idea off the ground. Boortz wrote The FairTax Book with Linder and trumpeted his support for the reform to a southeastern audience who readily took to the idea. Hayes’s organization works to garner more support for the idea across the United States.

The “power base” of the FairTax proposal has moved out of the Southeast and into the Midwest, Woodall says. Moran’s support as a lead co-sponsor has helped the idea gain traction in Kansas. A top Moran aide who worked on the FairTax bill tells NRO that Moran began laying the groundwork to lead on this issue last year, as former Georgia senator Saxby Chambliss was preparing to retire. Chambliss was a staunch supporter of the FairTax, and the aide says the two offices worked behind the scenes to ensure that the push for tax reform would live on. Woodall thinks the geographical shift in support will help the idea flourish in California and the Northwest. Moreover, he wants to gather supporters in key 2016 Republican-primary states and grow grassroots support in order to influence the GOP’s agenda.

But the effort to sell the FairTax primarily to devoted conservatives has left others in the dark as to its possible benefits. Laurence Kotlikoff, an economics professor at Boston University, has studied the FairTax and thinks it is a more progressive proposal than people realize. Kotlikoff says lawmakers’ lack of experience in public finance has led to a misunderstanding of the FairTax. He adds that he thinks Democratic minority leader Nancy Pelosi might even come around to the idea, if she realized that it would help some of the people she purports to care about most: workers.

After years toiling under former Senate majority leader Harry Reid (D., Nev.), some conservatives have grown excited by the Senate’s movement on this issue. The Moran staffer thinks a total of 10 or 11 senators may ultimately support the proposal, including new members and others who have changed their minds. The number of original co-sponsors of the FairTax in the House has increased during each of the last three Congresses, peaking this year with 57 total supporters.

Barring an unforeseen shift in Congress’s priorities, though, the FairTax appears doomed to fail yet again. Woodall knows the effort is ill-fated, and says he won’t look someone in the eye and tell them that a GOP-led Congress will put the FairTax on the president’s desk — or that the president would ever sign it. For the time being, his goal is more modest: He hopes to harness the relatively small but growing support for the proposal, and to take its message to voters across the country, showing his fellow Republicans that populist economic policies can win back the White House in 2016.

“This is a mission to change the way people think about the tax code,” he says. “It’s kind of a crazy idea until you look at it and you say, ‘Golly, why haven’t we done that already?’ Because we know that we can’t win Washington until we win the American voter across the country.” –

https://fairtax.org/articles/the-fairtax-makes-a-comeback

The Pronk Pops Show Podcasts Portfolio

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Fed Desperate To Rise Above the Near Zero Fed Funds Rate Target Range — Need Three Months Of 300,000 Plus Per Month Job Creation, Wage Growth and 3% First Quarter 2015 Real Gross Domestic Product Growth Numbers To Jump to .5 – 1.0% Range Fed Funds Rate Target — June 2015 Launch Date Expected — Fly Me To The Moon — Summertime — Launch — Abort On Recession — Videos

Posted on March 22, 2015. Filed under: American History, Banking, Blogroll, Books, Business, College, Communications, Constitution, Crisis, Culture, Demographics, Documentary, Economics, Education, Employment, Energy, Entertainment, Family, Federal Communications Commission, Federal Government, Federal Government Budget, Fiscal Policy, Food, Foreign Policy, Freedom, Friends, Government Land Ownership, government spending, Health Care, history, Illegal, Immigration, Language, Law, liberty, Life, Links, Macroeconomics, Microeconomics, Monetary Policy, Money, Music, Music, Natural Gas, Natural Gas, Non-Fiction, Obamacare, Oil, Oil, People, Philosophy, Photos, Politics, Press, Psychology, Rants, Raves, Regulations, Resources, Reviews, Strategy, Talk Radio, Tax Policy, Taxes, Unemployment, Video, War, Water, Wealth, Weather, Welfare, Wisdom, Writing | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 430: March 19, 2015

Pronk Pops Show 429: March 18, 2015

Pronk Pops Show 428: March 17, 2015 

Pronk Pops Show 427: March 16, 2015

Pronk Pops Show 426: March 6, 2015

Pronk Pops Show 425: March 4, 2015

Pronk Pops Show 424: March 2, 2015

Pronk Pops Show 423: February 26, 2015

Pronk Pops Show 422: February 25, 2015 

Pronk Pops Show 421: February 20, 2015

Pronk Pops Show 420: February 19, 2015

Pronk Pops Show 419: February 18, 2015

Pronk Pops Show 418: February 16, 2015

Pronk Pops Show 417: February 13, 2015

Pronk Pops Show 416: February 12, 2015

Pronk Pops Show 415: February 11, 2015

Pronk Pops Show 414: February 10, 2015

Pronk Pops Show 413: February 9, 2015

Pronk Pops Show 412: February 6, 2015

Pronk Pops Show 411: February 5, 2015

Pronk Pops Show 410: February 4, 2015

Pronk Pops Show 409: February 3, 2015

Pronk Pops Show 408: February 2, 2015

Pronk Pops Show 407: January 30, 2015

Pronk Pops Show 406: January 29, 2015

Pronk Pops Show 405: January 28, 2015

Pronk Pops Show 404: January 27, 2015

Pronk Pops Show 403: January 26, 2015

Pronk Pops Show 402: January 23, 2015

Pronk Pops Show 401: January 22, 2015

Pronk Pops Show 400: January 21, 2015

Pronk Pops Show 399: January 16, 2015

Pronk Pops Show 398: January 15, 2015

Pronk Pops Show 397: January 14, 2015

Pronk Pops Show 396: January 13, 2015

Pronk Pops Show 395: January 12, 2015

Pronk Pops Show 394: January 7, 2015

Pronk Pops Show 393: January 5, 2015

Pronk Pops Show 392: December 19, 2014

Pronk Pops Show 391: December 18, 2014

Pronk Pops Show 390: December 17, 2014

Pronk Pops Show 389: December 16, 2014

Pronk Pops Show 388: December 15, 2014

Pronk Pops Show 387: December 12, 2014

Pronk Pops Show 386: December 11, 2014

Pronk Pops Show 385: December 9, 2014

Pronk Pops Show 384: December 8, 2014

Pronk Pops Show 383: December 5, 2014

Pronk Pops Show 382: December 4, 2014

Pronk Pops Show 381: December 3, 2014

Pronk Pops Show 380: December 1, 2014

Story 1: Fed Desperate To Rise Above the Near Zero Fed Funds Rate Target Range — Need Three Months Of 300,000 Plus Per Month Job Creation, Wage Growth and 3% First Quarter 2015 Real Gross Domestic Product Growth Numbers To Jump to .5 – 1.0% Range Fed Funds Rate Target — June 2015 Launch Date Expected —  Fly Me To The Moon — Summertime — Launch — Abort On Recession — Videos

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moon earthstarsApollo_17_The_Last_Moon_Shot_Edit1launch_abort_buttons

Amazing seven year old sings Fly Me To The Moon (Angelina Jordan) on Senkveld “The Late Show”

Forrest Gump JFK “I Gotta Pee” Scene

Fed Decision: The Three Most Important Things Janet Yellen Said

Press Conference with Chair of the FOMC, Janet L. Yellen

Monetary Policy Based on the Taylor Rule

Many economists believe that rules-based monetary policy provides better economic outcomes than a purely discretionary framework delivers. But there is disagreement about the advantages of rules-based policy and even disagreement about which rule works. One possible policy rule would be for the central bank to follow a Taylor Rule, named after our featured speaker, John B. Taylor. What would some of the advantages of a Taylor Rule be versus, for instance, a money growth rule, or a rule which only specifies the inflation target? How could a policy rule be implemented? Should policy rule legislation be considered? Join us as Professor Taylor addresses these important policy questions.

Murray N. Rothbard on Milton Friedman pre1971

On Milton Friedman | by Murray N. Rothbard

Who Was the Better Monetary Economist? Rothbard and Friedman Compared | Joseph T. Salerno

Joseph Salerno “Unmasking the Federal Reserve”

Rothbard on Alan Greenspan

Milton Friedman – Money and Inflation

Milton Friedman – Abolish The Fed

Milton Friedman On John Maynard Keynes

Hayek on Keynes’s Ignorance of Economics

Friedrich Hayek explains to Leo Rosten that while brilliant Keynes had a parochial understanding of economics.

On John Maynard Keynes | by Murray N. Rothbard

Hayek on Milton Friedman and Monetary Policy

Friedrich Hayek: Why Intellectuals Drift Towards Socialism

Capitalism, Socialism, and the Jews

The Normal State of Man: Misery & Tyranny

Peter Schiff Interviews Keynesian Economist Laurence Kotlikoff 01-18-12

Larry Kotlikoff on the Clash of Generations

Extended interview with Boston University Economics Professor Larry Kotlikoff on his publications about a six-decade long Ponzi scheme in the US which he says will lead to a clash of generations.

Kotlikoff also touches on what his projections mean for the New Zealand economy and why Prime Minister John Key should take more attention of New Zealand’s ‘fiscal gap’ – the gap between all future government spending commitments and its future revenue track.

Thomas Sowell on Intellectuals and Society

Angelina Jordan – summertime

Angelina Jordan synger Sinatra i semifinalen i Norske Talenter 2014

Release Date: March 18, 2015

For immediate release

Information received since the Federal Open Market Committee met in January suggests that economic growth has moderated somewhat. Labor market conditions have improved further, with strong job gains and a lower unemployment rate. A range of labor market indicators suggests that underutilization of labor resources continues to diminish. Household spending is rising moderately; declines in energy prices have boosted household purchasing power. Business fixed investment is advancing, while the recovery in the housing sector remains slow and export growth has weakened. Inflation has declined further below the Committee’s longer-run objective, largely reflecting declines in energy prices. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations have remained stable.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators continuing to move toward levels the Committee judges consistent with its dual mandate. The Committee continues to see the risks to the outlook for economic activity and the labor market as nearly balanced. Inflation is anticipated to remain near its recent low level in the near term, but the Committee expects inflation to rise gradually toward 2 percent over the medium term as the labor market improves further and the transitory effects of energy price declines and other factors dissipate. The Committee continues to monitor inflation developments closely.

To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate. In determining how long to maintain this target range, the Committee will assess progress–both realized and expected–toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. Consistent with its previous statement, the Committee judges that an increase in the target range for the federal funds rate remains unlikely at the April FOMC meeting. The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term. This change in the forward guidance does not indicate that the Committee has decided on the timing of the initial increase in the target range.

The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. This policy, by keeping the Committee’s holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions.

When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.

Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Charles L. Evans; Stanley Fischer; Jeffrey M. Lacker; Dennis P. Lockhart; Jerome H. Powell; Daniel K. Tarullo; and John C. Williams.

http://www.federalreserve.gov/newsevents/press/monetary/20150318a.htm

Advance release of table 1 of the Summary of Economic Projections to be released with the FOMC minutes

Percent

Variable Central tendency1 Range2
2015 2016 2017 Longer run 2015 2016 2017 Longer run
Change in real GDP 2.3 to 2.7 2.3 to 2.7 2.0 to 2.4 2.0 to 2.3 2.1 to 3.1 2.2 to 3.0 1.8 to 2.5 1.8 to 2.5
December projection 2.6 to 3.0 2.5 to 3.0 2.3 to 2.5 2.0 to 2.3 2.1 to 3.2 2.1 to 3.0 2.0 to 2.7 1.8 to 2.7
Unemployment rate 5.0 to 5.2 4.9 to 5.1 4.8 to 5.1 5.0 to 5.2 4.8 to 5.3 4.5 to 5.2 4.8 to 5.5 4.9 to 5.8
December projection 5.2 to 5.3 5.0 to 5.2 4.9 to 5.3 5.2 to 5.5 5.0 to 5.5 4.9 to 5.4 4.7 to 5.7 5.0 to 5.8
PCE inflation 0.6 to 0.8 1.7 to 1.9 1.9 to 2.0 2.0 0.6 to 1.5 1.6 to 2.4 1.7 to 2.2 2.0
December projection 1.0 to 1.6 1.7 to 2.0 1.8 to 2.0 2.0 1.0 to 2.2 1.6 to 2.1 1.8 to 2.2 2.0
Core PCE inflation3 1.3 to 1.4 1.5 to 1.9 1.8 to 2.0 1.2 to 1.6 1.5 to 2.4 1.7 to 2.2
December projection 1.5 to 1.8 1.7 to 2.0 1.8 to 2.0 1.5 to 2.2 1.6 to 2.1 1.8 to 2.2

Note: Projections of change in real gross domestic product (GDP) and projections for both measures of inflation are percent changes from the fourth quarter of the previous year to the fourth quarter of the year indicated. PCE inflation and core PCE inflation are the percentage rates of change in, respectively, the price index for personal consumption expenditures (PCE) and the price index for PCE excluding food and energy. Projections for the unemployment rate are for the average civilian unemployment rate in the fourth quarter of the year indicated. Each participant’s projections are based on his or her assessment of appropriate monetary policy. Longer-run projections represent each participant’s assessment of the rate to which each variable would be expected to converge under appropriate monetary policy and in the absence of further shocks to the economy. The December projections were made in conjunction with the meeting of the Federal Open Market Committee on December 16-17, 2014.

1. The central tendency excludes the three highest and three lowest projections for each variable in each year.  Return to table

2. The range for a variable in a given year includes all participants’ projections, from lowest to highest, for that variable in that year.  Return to table

3. Longer-run projections for core PCE inflation are not collected.  Return to table

Figure 1. Central tendencies and ranges of economic projections, 2015-17 and over the longer run

Central tendencies and ranges of economic projections for years 2015 through 2017 and over the longer run. Actual values for years 2010 through 2014.

Change in real GDP
Percent

2010 2011 2012 2013 2014 2015 2016 2017 Longer Run
Actual 2.7 1.7 1.6 3.1 2.4
Upper End of Range 3.1 3.0 2.5 2.5
Upper End of Central Tendency 2.7 2.7 2.4 2.3
Lower End of Central Tendency 2.3 2.3 2.0 2.0
Lower End of Range 2.1 2.2 1.8 1.8

Unemployment rate
Percent

2010 2011 2012 2013 2014 2015 2016 2017 Longer Run
Actual 9.5 8.7 7.8 7.0 5.7
Upper End of Range 5.3 5.2 5.5 5.8
Upper End of Central Tendency 5.2 5.1 5.1 5.2
Lower End of Central Tendency 5.0 4.9 4.8 5.0
Lower End of Range 4.8 4.5 4.8 4.9

PCE inflation
Percent

2010 2011 2012 2013 2014 2015 2016 2017 Longer Run
Actual 1.3 2.7 1.6 1.0 1.1
Upper End of Range 1.5 2.4 2.2 2.0
Upper End of Central Tendency 0.8 1.9 2.0 2.0
Lower End of Central Tendency 0.6 1.7 1.9 2.0
Lower End of Range 0.6 1.6 1.7 2.0

Note: Definitions of variables are in the general note to the projections table. The data for the actual values of the variables are annual.

Figure 2. Overview of FOMC participants’ assessments of appropriate monetary policy

Appropriate timing of policy firming

2015 2016
Number of participants 15 2

Note: In the upper panel, the height of each bar denotes the number of FOMC participants who judge that, under appropriate monetary policy, the first increase in the target range for the federal funds rate from its current range of 0 to 1/4 percent will occur in the specified calendar year. In December 2014, the numbers of FOMC participants who judged that the first increase in the target federal funds rate would occur in 2015, and 2016 were, respectively, 15, and 2.

Appropriate pace of policy firming: Midpoint of target range or target level for the federal funds rate
Number of participants with projected midpoint of target range or target level

Midpoint of target range
or target level (Percent)
2015 2016 2017 Longer Run
0.125 2
0.250
0.375 1 1
0.500
0.625 7
0.750
0.875 3
1.000
1.125 1 1
1.250
1.375 2
1.500
1.625 1 6
1.750
1.875 3
2.000 1
2.125 1
2.250 1
2.375
2.500
2.625 1 3
2.750
2.875 2
3.000 1
3.125 4
3.250
3.375 2 1
3.500 7
3.625 2
3.750 1 2 6
3.875 1
4.000 1 2
4.125
4.250 1

Note: In the lower panel, each shaded circle indicates the value (rounded to the nearest 1/8 percentage point) of an individual participant’s judgment of the midpoint of the appropriate target range for the federal funds rate or the appropriate target level for the federal funds rate at the end of the specified calendar year or over the longer run.

http://www.federalreserve.gov/monetarypolicy/fomcprojtabl20150318.htm

Janet Yellen Isn’t Going to Raise Interest Rates Until She’s Good and Ready

The key words in Janet L. Yellen’s news conference Wednesday were rather pithy, at least by central bank standards. “Just because we removed the word ‘patient’ from the statement doesn’t mean we are going to be impatient,” Ms. Yellen, the Federal Reserve chairwoman, said.

With this framing, Ms. Yellen was putting her firm stamp on the policy of an institution she has led for just over a year — and making clear that she will not be boxed in. Her words and accompanying announcements conveyed the message that the Yellen Fed has no intention of taking the support struts of low interest rates away until she is absolutely confident that economic growth will hold up without them.

Photo

Janet Yellen held a news conference after a meeting of the Federal Open Market Committee in Washington on Wednesday. CreditChip Somodevilla/Getty Images

Ms. Yellen’s comments about patience versus impatience were part of that dance. But the dual message was even more powerful when combined with other elements of the central bank’s newly released information, which sent the signal that members of the committee intend to move cautiously on rate increases.

By eliminating the reference to “patience,” Paul Edelstein, an economist at IHS Global Insight, said in a research note, “The Fed did what it was expected to do.”

“But beyond that,” he added, “the committee appeared much more dovish and in not much of a hurry to actually pull the trigger.”

Fed officials’ forecasts of how high rates will be at year’s end for 2015, 2016 and 2017 all fell compared to where they were in December. They marked down their forecast for economic growth and inflation for all three years, implying that the nation’s economic challenge is tougher and inflation risks more distant than they had seemed a few months ago.

Particularly interesting was that Fed officials lowered their estimate of the longer-run unemployment rate, to 5 to 5.2 percent, from 5.2 to 5.5 percent. With joblessness hitting 5.5 percent in February, that implied that policy makers are convinced the job market has more room to tighten before it becomes too tight. Fed leaders now forecast unemployment rates in 2016 and 2017 that are a bit below what many view as the long-term sustainable level, which one would expect to translate into rising wages.

In other words, they want to run the economy a little hot for the next couple of years to help spur the kinds of wage gains that might return inflation to the 2 percent level they aim for, but which they have persistently undershot in recent years.

Apart from the details of the dovish monetary policy signals Ms. Yellen and her colleagues sent, it is clear she wanted to jolt markets out of any feeling that policy is on a preordained path.

At times over the last couple of years, the Fed had seemed to set a policy course and then go on a forced march until it got there, regardless of whether the jobs numbers were good or bad, or whether inflation was rising or falling. That is certainly how it felt when the Fed decided in December 2013 to wind down its quantitative easing policies by $10 billion per meeting, which it did through the first nine months of 2014 with few signs of re-evaluation as conditions evolved.

In her first news conference as chairwoman a year ago, Ms. Yellen had suggested that rate increases might be on a similar preordained path by saying that she could imagine rate increases “around six months” after the conclusion of quantitative easing. (That comment increasingly looks to have been a rookie mistake, and she later backed away from it.)

There are likely to be plenty of twists and turns in the coming months. After this week’s meeting, Ms. Yellen reinforced the message she has been trying to convey that the committee really will adapt its policy to incoming information rather than simply carry on with the path it set a year ago.

If the strengthening dollar and falling oil prices start to translate into still-lower expectations for future inflation, the Fed will hold off from rate rises — and the same if wage gains and other job market indicators show a lack of progress.

Conversely, if the job market recovery keeps going gangbusters and it becomes clear that inflation is going to rise back toward 2 percent, Ms. Yellen does not want to be constrained by language about “patience.”

“This change does not necessarily mean that an increase will occur in June,” Ms. Yellen said, “though we cannot rule that out.”

She has now bought herself some latitude to decide when and how the Fed ushers in an era of tighter money. Now the question is just how patient or impatient American economic conditions will allow her to be.

http://www.nytimes.com/2015/03/19/upshot/janet-yellen-isnt-going-to-raise-interest-rates-until-shes-good-and-ready.html?_r=0&abt=0002&abg=1

Taylor rule

From Wikipedia, the free encyclopedia

John B. Taylor

Not to be confused with Taylor Law or Taylor’s law.

In economics, a Taylor rule is a monetary-policy rule that stipulates how much the central bank should change the nominal interest rate in response to changes in inflation, output, or other economic conditions. In particular, the rule stipulates that for each one-percent increase in inflation, the central bank should raise the nominal interest rate by more than one percentage point. This aspect of the rule is often called the Taylor principle.

The rule of was first proposed by John B. Taylor,[1] and simultaneously by Dale W. Henderson and Warwick McKibbin in 1993.[2] It is intended to foster price stability and full employment by systematically reducing uncertainty and increasing the credibility of future actions by the central bank. It may also avoid the inefficiencies of time inconsistency from the exercise ofdiscretionary policy.[3][4] The Taylor rule synthesized, and provided a compromise between, competing schools of economics thought in a language devoid of rhetorical passion.[5] Although many issues remain unresolved and views still differ about how the Taylor rule can best be applied in practice, research shows that the rule has advanced the practice of central banking.[6]

As an equation

According to Taylor’s original version of the rule, the nominal interest rate should respond to divergences of actual inflation rates from target inflation rates and of actual Gross Domestic Product (GDP) from potential GDP:

i_t = \pi_t + r_t^* + a_\pi  ( \pi_t - \pi_t^* )  + a_y ( y_t - \bar y_t ).

In this equation, \,i_t\, is the target short-term nominal interest rate (e.g. the federal funds rate in the US, the Bank of England base rate in the UK), \,\pi_t\, is the rate ofinflation as measured by the GDP deflator, \pi^*_t is the desired rate of inflation, r_t^* is the assumed equilibrium real interest rate, \,y_t\, is the logarithm of real GDP, and \bar y_tis the logarithm of potential output, as determined by a linear trend.

In this equation, both a_{\pi} and a_y should be positive (as a rough rule of thumb, Taylor’s 1993 paper proposed setting a_{\pi}=a_y=0.5).[7] That is, the rule “recommends” a relatively high interest rate (a “tight” monetary policy) when inflation is above its target or when output is above its full-employment level, in order to reduce inflationary pressure. It recommends a relatively low interest rate (“easy” monetary policy) in the opposite situation, to stimulate output. Sometimes monetary policy goals may conflict, as in the case of stagflation, when inflation is above its target while output is below full employment. In such a situation, a Taylor rule specifies the relative weights given to reducing inflation versus increasing output.

The Taylor principle

By specifying a_{\pi}>0, the Taylor rule says that an increase in inflation by one percentage point should prompt the central bank to raise the nominal interest rate by more than one percentage point (specifically, by 1+a_{\pi}, the sum of the two coefficients on \pi_t in the equation above). Since the real interest rate is (approximately) the nominal interest rate minus inflation, stipulating a_{\pi}>0 implies that when inflation rises, the real interest rate should be increased. The idea that the real interest rate should be raised to cool the economy when inflation increases (requiring the nominal interest rate to increase more than inflation does) has sometimes been called the Taylor principle.[8]

During an EconTalk podcast Taylor explained the rule in simple terms using three variables: inflation rate, GDP growth, and the interest rate. If inflation were to rise by 1%, the proper response would be to raise the interest rate by 1.5% (Taylor explains that it doesn’t always need to be exactly 1.5%, but being larger than 1% is essential). If GDP falls by 1% relative to its growth path, then the proper response is to cut the interest rate by .5%.[9]

Alternative versions of the rule

While the Taylor principle has proved very influential, there is more debate about the other terms that should enter into the rule. According to some simple New Keynesian macroeconomic models, insofar as the central bank keeps inflation stable, the degree of fluctuation in output will be optimized (Blanchard and Gali call this property the ‘divine coincidence‘). In this case, the central bank need not take fluctuations in the output gap into account when setting interest rates (that is, it may optimally set a_y=0.) On the other hand, other economists have proposed including additional terms in the Taylor rule to take into account money gap[10] or financial conditions: for example, the interest rate might be raised when stock prices, housing prices, or interest rate spreads increase.

Empirical relevance

Although the Federal Reserve does not explicitly follow the Taylor rule, many analysts have argued that the rule provides a fairly accurate summary of US monetary policy under Paul Volcker and Alan Greenspan.[11][12] Similar observations have been made about central banks in other developed economies, both in countries like Canada and New Zealand that have officially adopted inflation targeting rules, and in others like Germany where the Bundesbank‘s policy did not officially target the inflation rate.[13][14] This observation has been cited by Clarida, Galí, and Gertler as a reason why inflation had remained under control and the economy had been relatively stable (the so-called ‘Great Moderation‘) in most developed countries from the 1980s through the 2000s.[11] However, according to Taylor, the rule was not followed in part of the 2000s, possibly leading to the housing bubble.[15][16] Certain research has determined that some households form their expectations about the future path of interest rates, inflation, and unemployment in a way that is consistent with Taylor-type rules.[17]

Criticisms

Athanasios Orphanides (2003) claims that the Taylor rule can misguide policy makers since they face real-time data. He shows that the Taylor rule matches the US funds rate less perfectly when accounting for these informational limitations and that an activist policy following the Taylor rule would have resulted in an inferior macroeconomic performance during the Great Inflation of the seventies.[18]

See also

References

  1. Jump up^ Taylor, John B. (1993). “Discretion versus Policy Rules in Practice”. Carnegie-Rochester Conference Series on Public Policy 39: 195–214. (The rule is introduced on page 202.)
  2. Jump up^ Henderson, D. W.; McKibbin, W. (1993). “A Comparison of Some Basic Monetary Policy Regimes for Open Economies: Implications of Different Degrees of Instrument Adjustment and Wage Persistence”. Carnegie-Rochester Conference Series on Public Policy 39: 221–318. doi:10.1016/0167-2231(93)90011-K.
  3. Jump up^ Athanasios Orphanides (2008). “Taylor rules,” The New Palgrave Dictionary of Economics, 2nd Edition. v. 8, pp. 2000-2004.Abstract.
  4. Jump up^ Paul Klein (2009). “time consistency of monetary and fiscal policy,” The New Palgrave Dictionary of Economics. 2nd Edition. Abstract.
  5. Jump up^ Kahn, George A.; Asso, Pier Francesco; Leeson, Robert (2007). “The Taylor Rule and the Transformation of Monetary Policy”. Federal Reserve Bank of Kansas City Working Paper 07-11. SSRN 1088466.
  6. Jump up^ Asso, Pier Francesco; Kahn, George A.; Leeson, Robert (2010). “The Taylor Rule and the Practice of Central Banking”. Federal Reserve Bank of Kansas City Working Paper 10-05. SSRN 1553978.
  7. Jump up^ Athanasios Orphanides (2008). “Taylor rules,” The New Palgrave Dictionary of Economics, 2nd Edition. v. 8, pp. 2000-2004, equation (7).Abstract.
  8. Jump up^ Davig, Troy; Leeper, Eric M. (2007). “Generalizing the Taylor Principle”. American Economic Review 97 (3): 607–635. doi:10.1257/aer.97.3.607.JSTOR 30035014.
  9. Jump up^ Econtalk podcast, Aug. 18, 2008, interview conducted by Russell Roberts, sponsored by the Library of Economics and Liberty.
  10. Jump up^ Benchimol, Jonathan; Fourçans, André (2012). “Money and risk in a DSGE framework : A Bayesian application to the Eurozone”. Journal of Macroeconomics34 (1): 95–111, Abstract.
  11. ^ Jump up to:a b Clarida, Richard; Galí, Jordi; Gertler, Mark (2000). “Monetary Policy Rules and Macroeconomic Stability: Theory and Some Evidence”. Quarterly Journal of Economics 115 (1): 147–180. doi:10.1162/003355300554692.JSTOR 2586937.
  12. Jump up^ Lowenstein, Roger (2008-01-20). “The Education of Ben Bernanke”. The New York Times.
  13. Jump up^ Bernanke, Ben; Mihov, Ilian (1997). “What Does the Bundesbank Target?”.European Economic Review 41 (6): 1025–1053. doi:10.1016/S0014-2921(96)00056-6.
  14. Jump up^ Clarida, Richard; Gertler, Mark; Galí, Jordi (1998). “Monetary Policy Rules in Practice: Some International Evidence”. European Economic Review 42 (6): 1033–1067. doi:10.1016/S0014-2921(98)00016-6.
  15. Jump up^ Taylor, John B. (2008). “The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong”.
  16. Jump up^ Taylor, John B. (2009). Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis. Hoover Institution Press. ISBN 0-8179-4971-2.
  17. Jump up^ Carvalho, Carlos; Nechio, Fernanda (2013). “Do People Understand Monetary Policy?”. Federal Reserve Bank of San Francisco Working Paper 2012-01.SSRN 1984321.
  18. Jump up^ Orphanides, A. (2003). “The Quest for Prosperity without Inflation”. Journal of Monetary Economics 50 (3): 633–663. doi:10.1016/S0304-3932(03)00028-X.

External links

http://en.wikipedia.org/wiki/Taylor_rule

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Murray Rothbard — Strictly Confidential: The Private Volker Fund Memos of Murray N. Rothbard — Videos

Posted on February 8, 2015. Filed under: American History, Banking, Blogroll, Books, College, Communications, Economics, Education, Faith, Family, Federal Government, Fiscal Policy, Friends, government, government spending, history, History of Economic Thought, Inflation, Language, Law, liberty, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Non-Fiction, People, Philosophy, Photos, Politics, Radio, Rants, Raves, Talk Radio, Video, Welfare, Wisdom, Writing | Tags: , , , , , , , , , , , , , , , , , , , , , , , |

murray_boardStrictly Confidential

Strictly Confidential: The Private Volker Fund Memos of Murray N. Rothbard

Murray Rothbard is widely known for his vast literary output, but a great deal of his work has never been published until now. During the late 1950s and early 60s he worked for the William Volker Fund, one of the few organizations willing to fund classical liberal scholars at the time. In that capacity, he wrote memos and reviews that offer insights on history, economics, foreign policy, and political theory.

Rothbard’s view and understanding of world events was unique and prescient. Strictly Confidential is an illuminating commentary on the feisty early years of the libertarian movement, and the fledgling intellectual base that became the root of today’s libertarianism.

No one tells it like it is better than Rothbard.

http://mises.org/library/strictly-confidential-private-volker-fund-memos-murray-n-rothbardmurray rothbard keynesian

rothbardMurray_Rothbard

How Murray Rothbard Became a Libertarian

A prolific author and Austrian economist, Murray Rothbard promoted a form of free market anarchism he called “anarcho-capitalism.”

In this talk, given at the 1981 National Libertarian Party Convention, Rothbard tells the story of how he came to learn about economics and libertarianism as he grew up in the Bronx and attended Columbia University in the 1930s and 40s. He reminisces about meeting Frank Chodorov, Baldy Harper, George Stigler and Ludwig von Mises, and takes a number of audience questions.

The Future of Austrian Economics | Murray N. Rothbard

This is the famous speech by Murray Rothbard given in the days following the collapse of the Soviet empire. His exuberance is palpable has he explains the meaning of it all for the place of liberty in the history of civilization.
A brilliant scholar and passionate defender of Liberty, Professor Murray Rothbard (1926-1995) was dean of the Austrian School of economics, holder of the S.J. Hall Chair at the University of Nevada, Las Vegas, and Academic Vice President of the Ludwig von Mises Institute.

The author of 17 books and thousands of articles, the foremost Misesian economist, the father of modern freedom theory, and the most delightful personality in the profession, this great teacher here spellbinds an audience of students, faculty, and business leaders in the “Future of Austrian Economics,” at the 1990 Mises University at Stanford.

Only Austrian economics, Rothbard shows, can explain the collapse of socialism/communism and tell us what should replace it: laissez-faire capitalism. There is a lesson here as well, he shows, for dealing with the Leviathan in Washington, D.C.

The Founding of the Federal Reserve | Murray N. Rothbard

Libertarianism | Murray N. Rothbard

Murray Rothbard: Six Stages of the Libertarian Movement

Murray Rothbard – The Government Is Not Us

The Gold Standard Before the Civil War | Murray N. Rothbard

Rothbard on the ‘best’ US president

Keynes the Man: Hero or Villain? | Murray N. Rothbard

415. Murray Rothbard: Who He Was and Why He’s Important

Gene Epstein: Murray Rothbard’s Mixed Legacy

How Murray Rothbard Changed my Mind on War | Thomas E. Woods, Jr.

Murray Rothbard as Academic Role Model | Gary North

The Worldview of Murray Rothbard | Gerard Casey

Two Roads, One Truth | Gerard Casey

inflation

 

For A New Liberty For A New Liberty 2America's Great DepressionLThe Case Against The FedRothbard-MESstateMurray_Rothbard (1)

 

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Masters of Money — Keynes — Hayek — Marx — Videos

Posted on April 24, 2013. Filed under: American History, Banking, Blogroll, College, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, History of Economic Thought, Inflation, Investments, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Talk Radio, Tax Policy, Unemployment, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , |

maynard_keynes

Masters Of Money: 1/3 – John Maynard Keynes (BBC Documentary Series)

friedrich-von-hayek

Masters Of Money: 2/3 – Friedrich Hayek (BBC Documentary Series)

karl_marx

Masters Of Money: 3/3 – Karl Marx (BBC Documentary Series)

Keynes the Man: Hero or Villain? | Murray N. Rothbard

Modern Myths of Keynesian Economics | Jeffrey M. Herbener

Deck the Halls with Macro Follies

Keynesianism Part I – It’s All About Spending

What GDP Leaves Out: An Austrian Look

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Friedrich A. Hayek–Masters of Money–Video

Posted on October 26, 2012. Filed under: American History, Banking, Blogroll, Business, Communications, Demographics, Economics, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, History of Economic Thought, Inflation, Investments, Language, Law, liberty, Life, Macroeconomics, media, Monetary Policy, Money, People, Philosophy, Politics, Psychology, Radio, Raves, Regulations, Technology, Video, War, Wealth, Wisdom | Tags: , , , , , , , , |

Friedrich Hayek

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Hunter Lewis–Where Keynes Went Wrong–Videos

Posted on July 19, 2010. Filed under: Blogroll, Communications, Economics, Employment, Federal Government, Fiscal Policy, government, government spending, history, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Quotations, Raves, Technology, Video, Wisdom | Tags: , , , , , , |

“Let us also keep in mind that a demand for better answers is not a partisan exercise. As we have seen, most Republicans are broadly Keynesians, as are most Democrats, as are most parties throughout the world. This is what “everyone” has been taught. We are all thus caught up together in a circular argument(that Keynesianism is right because most people assume it is right). If we want to save our children from more failed experiments, we will need to embrace change, real change, not the “change” promised by President Obama and other political leaders that just takes us back to the 1930s.”

~Hunter Lewis 

“Keynes did not add any new idea to the body of inflationist fallacies, a thousand times refuted by economists…

 He merely knew how to cloak the plea for inflation and credit expansion in the sophisticated terminology of mathematical economics.”

~Ludwig von Mises, Human Action, pages 787 and 793

“…Synopsis

In responding to the financial crash of 2008, both the Bush Administration and the Obama Administration have relied on prescriptions developed by John Maynard Keynes, the most important economist since Marx. But should we be relying on Keynes? What did Keynes actually say? Did he make his case? Hunter Lewis concludes that he did not. If Keynes was wrong then so are the economic policies of virtually all world governments today.

http://search.barnesandnoble.com/Where-Keynes-Went-Wrong/Hunter-Lewis/e/9781604190175

Hunter Lewis on ‘Where Keynes Went Wrong’

Best Books Criticizing Keynesian Economics | David Gordon

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“Let us hope that we do not have to wait too long for Keynes to join Mao and Marx and other faded and false utopian. To turn away from false utopias does not mean giving up on entirely attainable ends and ideals. We can have a stable economy, one built on truthful prices and profits. That economy can be sustainable both financially and environmentally, and it can, with work and persistence, finally put human poverty behind us.”

~Hunter Lewis

“In old fashioned language, Keynes proposed cheating the workers.”

~Ludwig von Mises, Economic Policy, page 70

For the last seventy-four years college students, both undergraduate and graduate, were taught Keynesian economics in their Macroeconomics courses.  I was one of them.

The works of von Mises, Hayek, and Hazlitt were never mentioned.

Many professors, even today, do not know who they were.

Times are a changing.

Unfortunately the Keynesian cult is alive and well in the economics profession and in the White House.

One only wonders why any one would still take Keynes or Keynesian economists seriously.

Yet they do.

Apparently ideology trumps logical thinking, knowledge of economic history, the history of economic thought and common sense.

The Obama Depression: Lessons Learned–Deja Vu!

Barack Obama’s Favorite Economist–John Maynard Keynes–A Great Guy?

Keynes Is Dead—-Obama Digging Up Keynes–Free Market Capitalism Lives

Hunter Lewis dedicated his book to Henry Hazlitt and recommended especially his books,  The Failure of the “New Economics” and Economics in One Lesson.

I could not agree more with his recommendations.

“The art of economics consists of looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.”

~Harry Hazlitt

“Henry Hazlitt did the seemingly impossible, something that was and is a magnificent service to all people everywhere. He wrote a line-by-line commentary and refutation of one of the most destructive, fallacious, and convoluted books of the century. The target here is John Maynard Keynes’s General Theory, the book that appeared in 1936 and swept all before it.

In economic science, Keynes changed everything. He supposedly demonstrated that prices don’t work, that private investment is unstable, that sound money is intolerable, and that government was needed to shore up the system and save it. It was simply astonishing how economists the world over put up with this, but it happened. He converted a whole generation in the late period of the Great Depression. By the 1950s, almost everyone was Keynesian.

But Hazlitt, the nation’s economics teacher, would have none of it. And he did the hard work of actually going through the book to evaluate its logic according to Austrian-style logical reasoning. The result: a 500-page masterpiece of exposition.

Murray Rothbard was blown away.

Keynes’ General Theory is here riddled chapter by chapter, line by line, with due account taken of the latest theoretical developments. The complete refutation of a vast network of fallacy can only be accomplished by someone thoroughly grounded in a sound positive theory. Henry Hazlitt has that groundwork.An “Austrian” follower of Ludwig von Mises, he is uniquely qualified for this task, and performs it surpassingly well. It is no exaggeration to say that this is by far the best book on economics published since Mises’ great Human Action in 1949. Mises’ work set forth the completed structure of the modern “Austrian” theory. Hazlitt’s fine critique of Keynes, based on these principles, is a worthy complement to Human Action.

Henry Hazlitt, a renowned economic journalist, is a better economist than a whole host of sterile academicians, and, in contrast to many of them, he is distinguished by courage: the courage to remain am “Austrian” in the teeth of the Keynesian holocaust, alongside Mises and F. A. Hayek. On its merits, this book should conquer the economics profession as rapidly as did Keynes.

But whether the currently fashionable economists read and digest this book or not is, in the long run, immaterial; it will be read, and it will destroy the Keynesian System. At the very least, there is now a new generation under thirty-five, to bring this message to fruition.

Far from being a dull read, this book has all the brightness and clarity we’ve come to expect from Hazlitt. He is a dazzling writer, and one can’t be thrill to see him in the ring with the giant Keynes. By the time he delivers the knock-out punch–taking on Keynes’s suggestion that we nationalize investment–there is nothing left of his opponent.

http://mises.org/store/Failure-of-the-New-Economics-The-P337.aspx

Background Articles and Videos

Epstein and Taylor: Are we all Keynesians now?

Hazlitt, My Hero | Jim Grant

An Ideal Guide to Keynes’s Dangerous and Destructive Economics

by David Gordon

“…Lewis has exposed with unmatched clarity the lineaments of Keynes’s system and enabled us to see exactly its disabling defects. Keynes defied common sense, unable to sustain the brilliant paradoxes that his fertile intellect constantly devised. Lewis’s book is an ideal guide to Keynes’s dangerous and destructive economics.”

http://mises.org/daily/3916

Biography of Henry Hazlitt (1894-1993)

Llewellyn H. Rockwell Jr.

Henry Hazlitt (1894-1993)

“…While at Newsweek, Hazlitt wrote Economics in One Lesson, which has sold nearly one million copies and is available in at least ten languages. Hazlitt argued that government intervention focuses on the consequences that are seen and ignores those that are not. The latter include wealth not created and even destroyed by regulation, inflation, and taxation. In 1947, he wrote Will Dollars Save the World?, a book attacking the Marshall Plan, which he saw as an international welfare scheme. The subsequent history of U.S. foreign aid shows just how right he was.

In 1950, Hazlitt became editor, along with John Chamberlain, of the fortnightly magazine, the Freeman; some of his best articles published there were later collected into The Wisdom of Henry Hazlitt. Also as a prophet, Hazlitt wrote The Great Idea (reprinted a year later as Time Will Run Back), a novel showing how a country can move from socialism to market economics at a time when most people thought socialism was the unstoppable wave of the future.

In 1959, Hazlitt came out with The Failure of the “New Economics,” an extraordinary line-by-line refutation of John Maynard Keynes’s General Theory. And though it was panned by the American academic journals at the time, it enlivened a growing movement favoring free markets over state planning and continues to be an essential resource. A year later, Hazlitt collected a series of scholarly attacks on Keynes as The Critics of Keynesian Economics, still in print today. …”

http://mises.org/about/3233

The Critics of Keynesian Economics

“…Henry Hazlitt confronted the rise of Keynesianism in his day and put together an intellectual arsenal: the most brilliant economists of the time showing what is wrong with the system, in great detail with great rigor. With excerpts from books and articles published between the 30s and 50s, it remains the most powerful anti-Keynesian collection ever assembled.

· Introduction By Henry Hazlitt
· Say’s Law By Jean Baptiste Say
· Of The Influence Of Consumption On Production By John Stuart Mill
· Mr. Keynes On The Causes Of Unemployment By Jacob Viner
· Unemployment: And Mr. Keynes’s Revolution In Economic Theory By Frank H. Knight
· Mr. Keynes’ “General Theory” By Etienne Mantoux
· The Economics Of Abundance By F. A. Hayek
· Liquidity Preference And The Theory Of Interest And Money By Franco Modigliani
· Digression On Keynes by Benjamin M. Anderson
· The Philosophy Of Lord Keynes By Philip Cortney
· Beveridge’s “Full Employment In A Free Society” By R. Gordon Wasson
· John Maynard Keynes By Garet Garrett
· The Fallacies Of Lord Keynes’ General Theory By Jacques Rueff
· Appraisal Of Keynesian Economics By John H. Williams
· Continental European Pre-Keynesianism By L. Albert Hahn
· Stones Into Bread, The Keynesian Miracle By Ludwig Von Mises
· Lord Keynes And Say’s Law By Ludwig Von Mises
· Lord Keynes And The Financial Community By Joseph Stagg Lawrence
· The Economics Of Full Employment By Wilhelm Ropke
· The Significance Of Price Flexibility By W. H. Hutt
· Keynes’ Theory Of Underemployment Equilibrium By Arthur F. Burns
· The Keynesian Mythology By Melchior Palyi
Mr. Keynes And The “Day Of Judgment” By David Mc Cord Wright

…”

http://mises.org/store/Critics-of-Keynesian-Economics-P559.aspx

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Hayek on Keynes (1977)

Hayek on Keynes

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Murray Rothbard Where Did The Free Markets Go?

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Keynes and the “New Economics” of Fascism | by Joseph T. Salerno [Lecture 6 of 10]

Socialism and Fascism

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John Taylor’s Reason Versus Paul Krugman’s Hyperbole (Part 2 of 2)

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Turning Japanese – Is the US Creating Its Own Lost Decade?

TAKE IT TO THE LIMITS: Milton Friedman on Libertarianism

Hunter Lewis

“…Hunter Lewis was born in Dayton, Ohio, USA, in 1947 and graduated from the Groton School and Harvard University (AB 1969). After working at the Boston Company, then one of the largest investment managers, first as assistant to the president and then vice-president, in 1975 Lewis co-founded and served as co-chief executive and then chief executive of Cambridge Associates LLC[1], an investment advisor to research universities and colleges representing over three-quarters of U.S. higher education endowment assets, foundations, cultural organizations, international organizations and other non-profit institutions as well as families. Lewis was a co-inventor of what became known as the American University style of institutional investing[2], which gave American university endowment funds the highest investment returns in the world among institutional investors[3], and which became widely emulated.

In addition to his work at Cambridge Associates, Lewis has served as treasurer and president of the American School of Classical Studies at Athens, a graduate research institute affiliated with 150 American colleges and universities[4], president of the Alliance for Natural Health-USA[5], chairman of the National Environmental Trust[6], chairman of Dumbarton Oaks (affiliate of Harvard University)[6], founder and chairman of the Trearne Foundation, which provides educational assistance to foster children[7], chairman of the Worldwatch Institute[6], chairman of Shelburne Farms[8], treasurer of the World Wildlife Fund (World Wide Fund for Nature), trustee of World Wildlife Fund International[9], member of the Advisory Board of Environmental Health Sciences, trustee of the Morgan Library[6], trustee of the Rockefeller Brothers Fund[6], trustee of the Thomas Jefferson Foundation (Monticello)[6], trustee of the Peabody School[6], trustee of the Groton School[6], trustee of the Core Knowledge Foundation[10], and member of the World Bank Pension Finance Committee[6].

Lewis has contributed to many newspapers and periodicals including the New York Times, The Times,[11] the Washington Post, and the Atlantic Monthly as well as numerous websites such as Forbes.com. He also is an author and editor of books on economics and moral philosophy. His works include: Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts[12] (Axios Press; September 25, 2009), Are the Rich Necessary?: Great Economic Arguments and How They Reflect Our Personal Values[13] (Axios Press; September 25, 2007; Rev Updated PB edition October 30, 2009), A Question of Values : Six Ways We Make the Personal Choices That Shape Our Lives (Harper, Collins; 1990, Axios Press; Rev Updated edition May 25, 2000), The Beguiling Serpent (Axios Press; August 31, 2000), Alternative Values: For and Against Wealth, Power, Fame, Praise, Glory, and Physical Pleasure (Axios Press; July 25, 2005) and The Real World War (Coward, McCann & Geoghegan/Putnam; 1982).

http://en.wikipedia.org/wiki/Hunter_Lewis

Cargo Cult

Cargo cult economics Littlewoods Direct

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The Mother of All Bailouts–2 to 3 Trillion Dollars–$2,000,000,000–$3,000,000,000!–Rewarding Greed, Arrogance and Stupidity–Pay for Play!

Federal Government Extortion Of Sound Banks–You Decide?–Take This TARP and Shove It!

Boycott Bailedout Businesses and Banks

Ban Bailouts–Stop Inflation Now (SIN)–Stop Socialism of Losses!

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

The Sovereign Wealth Fund Threat: Are Chinese Communists Behind Rush In Passing Bailout Bill?

Pelosi’s Porky Pigout Poison Package–Economy Wrecker and Job Destroyer–Have A Blue Christmas 2009!

Depressions and Recessions

Food Stamps Hit Record Of 38,200,000 Americans Needing Assistance–Everbody Hates Food Stamps–Until You and Your Children Are Hungry

President Barack Obama’s Role Model–President Franklin D. Roosevelt–The Worse President For The U.S. and World Economies and The American People–With The Same Results–High Unemployment Rates–Over 25 Million American Citizens Seeking Full Time Jobs Today–Worse Than The Over 13 Million Seeking Jobs During The Worse of The Great Depression!

The Great Depression and the Current Recession–Robert Higgs–Videos

Official Unemployment Rate Hits 10.2%–15,700,000 Unemployed American Citizens–Real Unemployment Rate Hits 17.5%– 26,950,000 Americans Seeking Full Time Jobs–Obama Depression Worse Than Great Depression

The Great Depression–Videos

The Obama Depression Continues–Official Unemployment Hits Rate 9.8% (15,142,000 Seek Full Time Job) and Real Unemployment Rate Hits 17.0% (26,181,000 Seek Full Time Job)!

The Obama Depression Has Arrived: 15,000,000 to 25,000,000 Unemployed Americans–Stimulus Package and Bailouts A Failure–400,000 Leave Labor Force In July!

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

The Big Economic Picture–Some Perspectives–Videos

United States Economic Depressions–The Good, The Bad, and The Ugly–Obama’s Depression–Over 15,000,000 Americans Seek Full Time Job!

The Triumph of Capitalism and The Power of Consumer Sovereignty Over Massive Government Failure–Bankruptcy of General Motors–Now Government Motors!

BO’s Raw Deal: Obama’s Two Year Recession and Two Year Hyperinflation–Hopeless & Small Change!

It Is Official–The U.S. Economy Has Been In A Recession for 11 Months and Continuing!

Recession–Recession–Recession–Scaring People–Have A Hot Dog!

Rush Limbaugh: Obama is Destroying the Economy!–Videos

Employment and Unemployment

Keynes Is Dead—-Obama Digging Up Keynes–Free Market Capitalism Lives

Food Stamps Hit Record Of 38,200,000 Americans Needing Assistance–Everbody Hates Food Stamps–Until You and Your Children Are Hungry

President Barack Obama’s Role Model–President Franklin D. Roosevelt–The Worse President For The U.S. and World Economies and The American People–With The Same Results–High Unemployment Rates–Over 25 Million American Citizens Seeking Full Time Jobs Today–Worse Than The Over 13 Million Seeking Jobs During The Worse of The Great Depression!

The Great Depression and the Current Recession–Robert Higgs–Videos

Official Unemployment Rate Hits 10.2%–15,700,000 Unemployed American Citizens–Real Unemployment Rate Hits 17.5%– 26,950,000 Americans Seeking Full Time Jobs–Obama Depression Worse Than Great Depression

Rose Colored Glasses:The Economy Is Recovering–Where Are The Jobs? When Will Inflation Hit? 2012–Election Year!

The Battle For The World Economy–Videos

American Citizens Want Jobs and Criminal Alien Removal, Not Criminal Alien Census and Health Care!

The Obama Depression Continues–Official Unemployment Hits Rate 9.8% (15,142,000 Seek Full Time Job) and Real Unemployment Rate Hits 17.0% (26,181,000 Seek Full Time Job)!

Broom Budget Busting Bums: Replace The Entire Congress–Tea Party Express and Patriots–United We Stand!

The Obama Depression Has Arrived: 15,000,000 to 25,000,000 Unemployed Americans–Stimulus Package and Bailouts A Failure–400,000 Leave Labor Force In July!

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Bureau of Labor Statistics–Selected Tables on Labor Force Statistics from the Current Population Survey

Job Creating Businesses and CIT–Videos

President Barack Obama Beats It–President Franklin Roosevelt Record–Worse Unemployment Numbers Since 1933–14,700,000 Unemployed Americans Greater than 13,000,000 in 1933!

The Obama Depression (OD) Starts July 4, 2009–30 Million Americans March To Tea Parties In Washington D.C. and Over 1,000 Cities and Towns Across America!

United States Economic Depressions–The Good, The Bad, and The Ugly–Obama’s Depression–Over 15,000,000 Americans Seek Full Time Job!

Bad Government Intervention Requires Bad Government Bank-The Road Map Out Of The World Economic Crisis–Stabilize–Stimulate–Strengthen–Simultaneously!

BO’s Raw Deal: Obama’s Two Year Recession and Two Year Hyperinflation–Hopeless & Small Change!

It Is Official–The U.S. Economy Has Been In A Recession for 11 Months and Continuing!

Recession–Recession–Recession–Scaring People–Have A Hot Dog!

Wealth, Income and Job Creation: Let A 1000 Microsofts Bloom

Bill Gates–Hope, Change and Rapid Affluence Development–Creative Capitalism!

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Agent Of Influence Comrade President Obama Signs The Traitors Treaty!

Posted on April 8, 2010. Filed under: Blogroll, Books, College, Communications, Culture, Demographics, Economics, Education, Employment, Entertainment, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, history, Immigration, Investments, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Psychology, Quotations, Rants, Raves, Regulations, Security, Talk Radio, Taxes, Technology, Video, War, Wisdom | Tags: , , , , , , , , , |

“Give us the child for 8 years and it will be a Bolshevik forever”

“A lie told often enough becomes truth.”

~Vladimir Lenin

President Obama leader of the progressive radical socialist Democratic Party and Marxist Leninist agent of influence smiles as he signs  The Traitors Treaty.

Barrack Obama, winner of the Nobel Peace Prize and now also known as the Hero of the Soviet Union, delivers the goods for his fellow socialist and/or communist comrades.

The American people will rue the day they elected Barack Obama President of the United States of America.

Obama Follows Lenin’s Advice Uses Taxation, Inflation and Corruption To Crush Capitalism

Over 30,000,000 Americans seeking full-time employment and over 40,00o,000 Americans on the food stamp bread line known as SNAP  (Supplemental Nutrition Assistance Program) are the price the American people are paying for electing a Marxist Leninist or progressive radical socialist to the office of President.

The American people in the next three elections will have an opportunity to correct their mistakes of electing progressive radical socialist Democrats and Republicans by voting all of them out of office.

The American people are waking up and are increasingly coming to the conclusion that the time is right for a new third party:

American Citizens Alliance Party–A CAP On Government Spending, Taxes, Debt and Regulations-The Third Party Base–Tea Party Patriots–Videos

A New Political Party In The United States? American Citizens Alliance Party–ACAP On Government Spending, Taxes, Debt, and Regulations!

55% Oppose Limits On U.S. Nuclear Response To Attacks

“…Fifty-five percent (55%) of U.S. voters oppose President Obama’s new policy prohibiting the use of nuclear weapons in response to chemical or biological attacks on the United States.

A new Rasmussen Reports national telephone survey finds that just 25% of voters agree with the president’s decision to rule out a nuclear response if a non-nuclear country attacks America with chemical or biological weapons. Another 20% are undecided.

Only 31% favor a reduction in the number of nuclear weapons in the U.S. arsenal. Fifty-three percent (53%) oppose any such reduction. Sixteen percent (16%) are not sure. …”

http://www.rasmussenreports.com/public_content/politics/general_politics/april_2010/55_oppose_limits_on_u_s_nuclear_response_to_attacks

Join the Second American Revolution.

Medvedev, Obama sign Russia-US nuclear treaty in Czech capital Prague

Obama in Prague to Sign Arms Deal

Assessing the US-Russia nuclear disarmament treaty

1 of 4: Victor Davis Hanson: “PoliticalChallenges Facing the Obama Administration”

2 of 4: Victor Davis Hanson: “Political Challenges Facing the Obama Administration”

3 of 4: Victor Davis Hanson: “Political Challenges Facing the Obama Administration”

4 of 4: Victor Davis Hanson: “Political Challenges Facing the Obama Administration”

1 of 2: Victor Davis Hanson – Question & Answer Session

2 of 2: Victor Davis Hanson – Question & Answer Session

Victor Davis Hanson: War in the Post Modern World – why the new laws of conflict are surreal

Multi-Decade Communist Deception and Disinformation Strategy (1 of 3)

Multi-Decade Communist Deception and Disinformation Strategy (2 of 3)

Multi-Decade Communist Deception and Disinformation Strategy (3 of 3)

Yuri Bezmenov ex KGB Psycological Warfare Techniques–Videos

“The goal of socialism is communism.”

“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”

~Vladimir Lenin

Background Articles and Videos

Victor Davis Hanson – Is the “War on Terror” Really a War?

The Media, Government’s Agent of Influence – False Flags A Brief History

 

Despite New Treaty, 53% Oppose Cuts To U.S. Nuclear Arsenal – April 9, 2010

Related Posts On Pronk Palisades

Communist Deception and Disinformation Strategy–Videos

Cold War Spies–Videos

Yuri Bezmenov ex KGB Psycological Warfare Techniques–Videos

Glenn Beck: Barack Obama Is A True Believer in Progressive Radical Socialism–Videos

Robert Baer and Victor Davis Hanson: A Nuclear Iran–Videos

American Citizens Alliance Party–A CAP On Government Spending, Taxes, Debt and Regulations-The Third Party Base–Tea Party Patriots–Videos

A New Political Party In The United States? American Citizens Alliance Party–ACAP On

 

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Hayek vs. Keynes Rap Anthem–“Fear the Boom and Bust”

Posted on February 9, 2010. Filed under: Blogroll, Books, Communications, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Religion, Resources, Science, Security, Taxes, Video, Wisdom | Tags: , , , , , , , , , |

 “Fear the Boom and Bust” a Hayek vs. Keynes Rap Anthem

 

Related Post On Pronk Palisades

Collectivism: Socialism, Communism, Progressivism and Fascism

The Battle For The World Economy–Videos

Walter Block–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

G. William Domhoff: Who Runs America–Videos

Jonah Goldberg–Liberal Fascism–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

G. Edward Griffin- On Individualism vs. Collectivism–Videos

Mark Levin–Liberty and Tyranny: A Conservative Manifesto–Videos

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Today’s Progressives–Obama’s Radical Socialist Democratic Party

The Racist Test for Judge Sonya Sotomayor and President Obama–Racism Unmasked!

Calling and Raising The Stakes for Race Card Players–Obama and Sotomayor

George Soros: Government Interventionist and Global Socialist–Obama’s Puppeter Master–Videos

George Soros: Barack Obama’s Money Man and Agenda Puppeter 

The Cloward-Piven Strategy Of The Progressive Radical Socialists: Wrecking The U.S. Economy By Massive Government Dependence, Spending, Deficits, Debts, Taxes And Regulations!

President Barack Obama’s Role Model–President Franklin D. Roosevelt–The Worse President For The U.S. and World Economies and The American People–With The Same Results–High Unemployment Rates–Over 25 Million American Citizens Seeking Full Time Jobs Today–Worse Than The Over 13 Million Seeking Jobs During The Worse of The Great Depression!

Progressives

Progressive Radical Socialist Health Care Plan Written In Prison By Convicted Felon Richard Creamer!

Obamanomics–New Deal Progressive Radical Socialist Interventionism

Eugenics, Planned Parenthood, Population Control, and Designer Babies–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

The Obama Depression: Lessons Learned–Deja Vu!

Lord Christopher Monckton–Climate Change–Treaty–Videos

Progressive Radical Socialist Canned Criticism of American People: Danger, Profits, and Wrong Thinking

The Battle For The World Economy–Videos

Broom Budget Busting Bums: Replace The Entire Congress–Tea Party Express and Patriots–United We Stand!

Obama’s Civilian National Security Force–Youth Corp Wave–Friendly Fascism Faces–Cons–Crooks–Communists–Communities–Corps!

Obama’s Hidden Agenda and Covert Cadre of Marxists, Communists, Progressives, Radicals, Socialists–Far Left Democrats Destroying Capitalism and The American Republic

Yuri Bezmenov On KGB Soviet Propaganda and Subversion–Videos

The Bloody History of Communism–Videos

Obama Youth–Civilian National Security Force–National Socialism–Hitler Youth–Brownshirts– Redux?–Collectivism!

American Progressive Liberal Fascism–The Wave of The Future Or Back To Past Mistakes?

Today’s Progressives–Obama’s Radical Socialist Democratic Party

President Obama–Killer of The American Dream and Market Capitalism–Stop The Radical Socialists Before They Kill You!

The Progressive Radical Socialist Family Tree–ACORN & AmeriCorps–Time To Chop It Down

It Is Official–America On The Obama Road To Fascism–Thomas Sowell!

President Obama and His Keynesian Spending Cult of The Fascist Democrat Radicals–FDRs 

Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Walter Block–Videos

Walter Block–Introduction To Libertarianism–Videos

Yaron Brook–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

David Gordon–Five Best Books on the Current Crisis–Video

David Gordon–The Confused Literature of Globalization–Videos

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

Jörg Guido Hülsmann–The Ethics of Money Production–Videos

Jörg Guido Hülsmann–The Life and Work of Ludwig von Mises–Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Milton Friedman–Debate In Iceland–Videos

Milton Friedman–Free To Choose–On Donahue –Videos

Israel Kirzner–On Entrepreneurship–Vidoes

Liberal Fascism–Jonah Goldberg–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Murray Rothbard–Videos

Murray Rothbard–Libertarianism–Video

Rothbard On Keynes–Videos

Murray Rothbard– What Has Government Done to Our Money?–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Larry Sechrest–The Anticapitalists: Barbarians at the Gate–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Peter Thiel–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Woods–Lectures On Liberty–Videos

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Music

Abba–Videos

Joan Baez–Videos

The Beach Boys–Videos

The Beatles–Videos

Bee Gees–Videos

The Byrds–Videos

Mariah Carey–Videos

Johnny Cash–Videos

Ray Charles–Videos

Joe Cocker–Videos

Judy Collins–Videos

Perry Como–Videos

Sam Cooke–Videos

John Denver–Videos

Celine Dion–Videos

The Doors–Videos

Bob Dylan–Videos

Eagles–Video

Roberta Flack–Videos

Aretha Franklin–Videos

Marvin Gaye-Videos

Michael Jackson and Jackson Five–Videos

Elton John–Videos

Janis Joplan–Videos

Led Zeppelin–Videos

Little Richard–Videos

The Lovin’ Spoonful–Videos

The Mamas and Papas–Videos

Barry Manilow–Videos

Don McLean–Videos

Bette Midler–Videos

Joni Mitchell–Videos

Olivia Newton-John–Videos

Roy Orbison–Videos

The Platters–Videos

Elvis Presley–Videos

Queen–Videos

Otis Redding–Videos

Lionel Richie–Videos

The Righteous Brothers–Videos

The Rolling Stones–Videos

Linda Ronstadt–Videos

Diana Ross and The Supremes–Videos

Carly Simon–Videos

Simon & Garfunkel–Videos

Frank Sinatra–Videos

Bruce Springsteen–Videos

Rod Stewart–Videos

Barbra Streisand–Videos

Songs

Singers and Songs: Musical Artists–Videos

Donna Summer–Videos

Switchfoot–Videos

James Taylor–Videos

Tina Turner–Videos

Shania Twain–Videos

Village People–Videos

Hayley Westenra–Videos

Steve Winwood–Videos

Stevie Wonder–Videos

Tammy Wynette–Videos

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Glenn Beck: President Obama’s Proposed Budget Is Out Of Control Federal Government Spending–Stop Him Before He Destroys The Economy

Posted on February 8, 2010. Filed under: Blogroll, Communications, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, government, government spending, Health Care, history, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Quotations, Rants, Regulations, Resources, Science, Taxes, Video, War, Wisdom | Tags: , , , , , , , , , , |

Glenn Beck Show – February 8, 2010 – Pt 1 of 7

Glenn Beck Show – February 8, 2010 – Pt 2 of 7

Glenn Beck Show – February 8, 2010 – Pt 3 of 7

Glenn Beck Show – February 8, 2010 – Pt 4 of 7

Glenn Beck Show – February 8, 2010 – Pt 5 of 7

Glenn Beck Show – February 8, 2010 – Pt 6 of 7

Glenn Beck Show – February 8, 2010 – Pt 7 of 7

Paul Ryan on debt ceiling increase: “A proud moment” for Speaker Pelosi?

President Obama proposed 2011 budget is beyond fiscally irresponsible, it is dangerous.

The proposal will not be passed by Congress–it is dead on arrival–DOA.

That said the fact that President Obama would even propose such a budget is revealing.

President Obama is an economic illiterate that must rely upon his economic policy team made up of many Keynesians.

This is not surprising since the late John Maynard Keynes would recommend more government spending to lift the economy out of a recession.

There is only one big problem.

Keynes has repeatedly been shown to be wrong.

When his policy recommendations of government intervention into the economy have been followed, the recession is usually prolonged in its duration and negative impact on production and employment.

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus


At first I thought he was receiving bad economic policy advice.

However I believe he knew exactly what he is doing.

President Obama is what they call a front man.

In a rock band that is the singer.

The real and important question is who is puppet Obama fronting for and what are their goals.

Leading candidates include unions, trial lawyers, large investment and commerical banks, large corporation, the very wealthy including George Soros and David Rockefeller, community organizations, a foreign government, or all of the above.

President Obama has been bought and paid for.

Obama will remain loyal to whoever controls him for the simple reason they are his source of money and influence.

Also, I suspect one or more parties has information that if released to the general public would destroy him.

Therefore, he will follow orders, even if this means he will be defeated in 2012.

I concluded a long time ago that Barack Obama was intentionally trying to both destroy jobs and wreck the U.S. economy.

I think Obama is seeing the writing on the wall and has been told to drop Vice-President Biden from the ticket in 2012 and replace him with Secretary of State Hillary Clinton.

The wild card that President Obama’s controllers did not seriously take into consideration is the American people and the popularity of Sarah Palin among the conservative base in the Republican Party.

The grassroots Tea Party movement is growing every day.

This is especially true with over 26 million Americans seeking a full time job.

Obama has lost Republicans, Democrats, and Independents, conservative, libertarians, veterans, the elderly and is slowly but surely losing the young who cannot find jobs.

All of these people are joing the Tea Party movement.

What is really scaring the political class and elites is the anger and intensity of those in the grassroots Tea Party movement.

The political elites of the progressive radical socialist Democratic Party have nothing but fear and loathing of both the Tea Parties and Sarah Palin.

Their fear and loathing is palpable.

This is evidence by big media’s relenless attacks on Sarah Palin with the aim of destroying or at least damaging her.

Big media’s  big mistake is that their are at least a dozen potential candidates for President in 2012 that are equally impressive as Sarah Palin.

If President Obama continues down his road to serfdom, he and Hillary Clinton will face a decisive defeat at the polls approaching if not exceeding President Ronald Reagan’s defeat of Jimmy Carter in 1980.

How sweat it is!

A twoffer.

Background Articles and Videos

Obama’s Budget Seriously Underestimates Deficit

By Scott Grannis

“…The data for the forecast section of these charts is taken directly from Obama’s FY 2011 Budget. The forecasts presented in this budget rely, as all forecasts ultimately do, on several critical assumptions. Together, these are among the most heroic and daring assumptions I have ever seen coming from the Office of Management and Budget. They are so off the charts that I don’t think they will ever see the light of day. And that would be a good thing, because otherwise we will be facing a very unpleasant economic future.

To begin with, economic growth is expected to average about 4% per year over the next 5 years. That is quite a bit higher than the “new normal” consensus, which sees growth averaging about 2.5-3% per year. I don’t really have a problem with that, since I think the “new normal” consensus is too pessimistic. But regardless of how optimistic 4% sounds, the growth projections the administration is using imply that it would take 10 years or more for the economy to return to its potential, or full employment growth. That would amount to a decade of very frustrated voters.

Next, we have the assumption that, thanks to 4% growth and higher tax rates, there will be a surge in tax receipts stronger than we have ever seen before in post-war history. Amazingly, the administration is making little or no allowance for the likelihood that rising tax rates (e.g., the expiration of the Bush tax cuts, the imposition of big taxes on Cadillac health insurance policies, the limitation of deductions on high-income earners) and rising tax burdens might a) retard economic growth and/or b) result in lower-than-expected revenues (e.g., due to increased evasion). In other words, if the Laffer Curve asserts itself and/or the economy performs according to the “new normal” consensus, we would likely discover that tax receipts are significantly lower than the administration is projecting. …”

http://seekingalpha.com/article/187181-obama-s-budget-seriously-underestimates-deficit

U.S Debt Clock Real Time

http://www.usdebtclock.org/

Total National Debt
Fiscal Years 1900 to 2014
Year GDP-US
$ billion
Gross Public Debt-total
pct GDP
1900 20.6 10.37
1901 22.3 9.61
1902 24.1 17.70
1903 25.9 17.20
1904 25.7 18.18
1905 28.8 16.85
1906 31 16.43
1907 33.9 15.94
1908 30.1 19.20
1909 32.2 18.67
1910 33.4 18.74
1911 34.3 19.31
1912 37.4 18.70
1913 39.1 18.75
1914 36.5 21.23
1915 38.7 21.61
1916 49.6 19.00
1917 59.7 20.25
1918 75.8 28.47
1919 78.3 44.77
1920 88.4 38.86
1921 73.6 45.10
1922 73.4 45.06
1923 85.4 38.96
1924 86.9 38.03
1925 90.6 36.71
1926 96.9 34.48
1927 95.5 34.97
1928 97.4 34.15
1929 103.6 32.25
1930 91.2 36.76
1931 76.5 45.81
1932 58.7 65.91
1933 56.4 73.77
1934 66 69.67
1935 73.3 65.35
1936 83.8 63.55
1937 91.9 60.81
1938 86.1 65.74
1939 92.2 65.40
1940 101.4 62.38
1941 126.7 54.28
1942 161.9 56.68
1943 198.6 78.10
1944 219.8 99.40
1945 223.1 123.46
1946 222.3 128.40
1947 244.2 112.87
1948 269.1 100.69
1949 267.3 102.56
1950 293.8 95.80
1951 339.3 83.21
1952 358.3 80.72
1953 379.3 79.05
1954 380.4 81.54
1955 414.8 76.82
1956 437.4 73.53
1957 461.1 70.17
1958 467.2 71.60
1959 506.6 68.85
1960 526.4 67.68
1961 544.7 66.82
1962 585.6 64.72
1963 617.7 63.29
1964 663.6 60.87
1965 719.1 57.96
1966 787.7 54.20
1967 832.6 52.83
1968 909.8 51.52
1969 984.4 49.50
1970 1038.3 49.55
1971 1126.8 49.44
1972 1237.9 48.57
1973 1382.7 46.73
1974 1499.5 45.42
1975 1637.7 45.99
1976 1825.3 47.19
1977 2030.9 47.16
1978 2294.7 45.87
1979 2562.2 44.12
1980 2789.5 44.59
1981 3128.4 43.53
1982 3253.2 47.52
1983 3534.6 51.81
1984 3933.2 52.81
1985 4220.3 56.68
1986 4462.8 62.39
1987 4739.5 64.75
1988 5100.4 65.83
1989 5484.4 66.67
1990 5803.1 70.54
1991 5992.1 76.46
1992 6337.7 79.53
1993 6667.4 81.38
1994 7085.2 81.40
1995 7397.7 80.89
1996 7816.9 80.32
1997 8332.4 79.62
1998 8679.66 78.46
1999 9201.14 76.35
2000 9951.5 71.61
2001 10286.2 71.57
2002 10398.4 74.69
2003 11142.1 77.15
2004 11607 80.39
2005 12638.4 79.27
2006 13090.8 81.80
2007 14077.6 81.10
2008 14441.4 87.52
2009 14237.2 103.86
2010 14623.9 116.14
2011 15299 121.96
2012 16203.3 124.67
2013 17182.2 126.34
2014 18192.6 127.62

http://www.usgovernmentspending.com/downchart_gs.php?year=1900_2014&units=p&chart=H0-total&title=Total%20National%20Debt

Related Posts On Pronk Palisades

President Obama’s Proposed Budgets and Deficits For 2009-2013 Will Harm The United States of America and The American People–It’s Time–Join The Second American Revolution–August 28, 2010 in Washington D.C.–Three Million March!

Obama Is Failing–2011 Budget Proposal–Dead On Arrival–Rush Is Right!

President Obama’s Plan of Massive Deficit Spending Is Destroying The US Economy–The American People Say Stop Socialism BS Now!

Collectivism: Socialism, Communism, Progressivism and Fascism

The Battle For The World Economy–Videos

Walter Block–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

G. William Domhoff: Who Runs America–Videos

Jonah Goldberg–Liberal Fascism–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

G. Edward Griffin- On Individualism vs. Collectivism–Videos

Mark Levin–Liberty and Tyranny: A Conservative Manifesto–Videos

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Today’s Progressives–Obama’s Radical Socialist Democratic Party

The Racist Test for Judge Sonya Sotomayor and President Obama–Racism Unmasked!

Calling and Raising The Stakes for Race Card Players–Obama and Sotomayor

George Soros: Government Interventionist and Global Socialist–Obama’s Puppeter Master–Videos

George Soros: Barack Obama’s Money Man and Agenda Puppeter

The Cloward-Piven Strategy Of The Progressive Radical Socialists: Wrecking The U.S. Economy By Massive Government Dependence, Spending, Deficits, Debts, Taxes And Regulations!

President Barack Obama’s Role Model–President Franklin D. Roosevelt–The Worse President For The U.S. and World Economies and The American People–With The Same Results–High Unemployment Rates–Over 25 Million American Citizens Seeking Full Time Jobs Today–Worse Than The Over 13 Million Seeking Jobs During The Worse of The Great Depression!

Progressives

Progressive Radical Socialist Health Care Plan Written In Prison By Convicted Felon Richard Creamer!

Obamanomics–New Deal Progressive Radical Socialist Interventionism

Eugenics, Planned Parenthood, Population Control, and Designer Babies–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

The Obama Depression: Lessons Learned–Deja Vu!

Lord Christopher Monckton–Climate Change–Treaty–Videos

Progressive Radical Socialist Canned Criticism of American People: Danger, Profits, and Wrong Thinking

The Battle For The World Economy–Videos

Broom Budget Busting Bums: Replace The Entire Congress–Tea Party Express and Patriots–United We Stand!

Obama’s Civilian National Security Force–Youth Corp Wave–Friendly Fascism Faces–Cons–Crooks–Communists–Communities–Corps!

Obama’s Hidden Agenda and Covert Cadre of Marxists, Communists, Progressives, Radicals, Socialists–Far Left Democrats Destroying Capitalism and The American Republic

Yuri Bezmenov On KGB Soviet Propaganda and Subversion–Videos

The Bloody History of Communism–Videos

Obama Youth–Civilian National Security Force–National Socialism–Hitler Youth–Brownshirts– Redux?–Collectivism!

American Progressive Liberal Fascism–The Wave of The Future Or Back To Past Mistakes?

Today’s Progressives–Obama’s Radical Socialist Democratic Party

President Obama–Killer of The American Dream and Market Capitalism–Stop The Radical Socialists Before They Kill You!

The Progressive Radical Socialist Family Tree–ACORN & AmeriCorps–Time To Chop It Down

It Is Official–America On The Obama Road To Fascism–Thomas Sowell!

President Obama and His Keynesian Spending Cult of The Fascist Democrat Radicals–FDRs

Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Walter Block–Videos

Walter Block–Introduction To Libertarianism–Videos

Yaron Brook–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

David Gordon–Five Best Books on the Current Crisis–Video

David Gordon–The Confused Literature of Globalization–Videos

Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

The Great Depression and the Current Recession–Robert Higgs–Videos

Jörg Guido Hülsmann–The Ethics of Money Production–Videos

Jörg Guido Hülsmann–The Life and Work of Ludwig von Mises–Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Milton Friedman–Debate In Iceland–Videos

Israel Kirzner–On Entrepreneurship–Vidoes

Liberal Fascism–Jonah Goldberg–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Murray Rothbard–Videos

Murray Rothbard–Libertarianism–Video

Rothbard On Keynes–Videos

Murray Rothbard– What Has Government Done to Our Money?–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Larry Sechrest–The Anticapitalists: Barbarians at the Gate–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Peter Thiel–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Woods–Lectures On Liberty–Videos

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

 

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Barack Obama’s Favorite Economist–John Maynard Keynes–A Great Guy?

Posted on November 16, 2009. Filed under: Blogroll, Communications, Economics, Employment, Fiscal Policy, government spending, Investments, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Resources, Taxes, Video, Wisdom | Tags: , , , , , , , , |

Listening to the late Murray Rothbard lecture on John Maynard Keynes, I was struck by how both Barack Obama and Maynard Keynes are very similiar.

The arrogance, habitual lying, changing positions on issues on a dime, use of strawmen arguments, elitism, will to power, and ego mania describe both Keynes and Obama.

Both also share an admiration of fascism, communism and government management of the economy.

Outside of that they are great guys.

Keynes the Man: Hero or Villain? | Murray N. Rothbard

Keynesian Predictions vs. American History | Thomas E. Woods, Jr.

 Background Articles and Videos

The Obama Depression: Lessons Learned–Deja Vu!

Hunter Lewis–Where Keynes Went Wrong–Videos

The Battle For The World Economy–Videos

Obama’s New New Deal: As bad as the old new deal?

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus

Bork and Hayek on so-called “Intellectuals”

Hayek on Keynes

Hayek on Milton Friedman and Monetary Policy

Hayek on Socialism

John Maynard Keynes of Bloomsbury: Craufurd Goodwin

John Maynard Keynes as Policy Advisor: E. Roy Weintraub

John Maynard Keynes and Economics: Kevin Hoover

John Maynard Keynes and Hayek: Bruce Caldwell

Liberty and Economics

Mises and Austrian Economics: A Personal View By Ron Paul

Robert Skidelsky – Interpreting the Great Depression: Hayek versus Keynes

Big Think Interview with Robert Skidelsky

Keynes and the Crisis of Capitalism

The Keynes Solution: The Path to Global Economic Prosperity Via a Serious Monetary Theory

“Fear the Boom and Bust” a Hayek vs. Keynes Rap Anthem

Fight of the Century: Keynes vs. Hayek Round Two

Deck the Halls with Macro Follies

Every Breath You Take

Hayek sobre Keynes

Keynes and Hayek Head to Head | Roger W. Garrison

The Life & Thought of Friedrich Hayek

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The Obama Depression: Lessons Learned–Deja Vu!

Economists

The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Walter Block–Videos

Walter Block–Introduction To Libertarianism–Videos

Hunter Lewis–Where Keynes Went Wrong–Videos

Thomas DiLorenzo–The Economic Model of the Fascist State–Videos

Richard Ebeling–America’s New Road to Serfdom and the Continuing Relevance of Austrian Economics –Videos

Milton Friedman–Videos

Milton Friedman–Capitalism and Freedom–Videos

Milton Friedman On Business–Videos

Milton Friedman On Education–Videos

Milton Friedman On Monetary Policy–Videos

Milton Friedman–Debate In Iceland–Videos

Milton Friedman–Free To Choose–On Donahue –Videos

Milton Friedman–Economic Myths–Videos

Paul Edward Gottfried–Fascism, Anti-Fascism, and the Welfare State–Videos

David Gordon–Five Best Books on the Current Crisis–Video

David Gordon–The Confused Literature of Globalization–Videos

Friedrich Hayek–Videos

Friedrich A. Hayek–Interviews–Videos

Inside the Hayek Equation: An Interview with Friedrich von Hayek–Video

An Interview with Friedrich Hayek–Videos

Henry Hazlitt–Economics In One Lesson–Videos

Robert Higgs–The Complex Path of Ideological Change–Videos

Robert Higgs–The Great Depression and the Current Recession–Videos

Robert Higgs–Why Are Politicians Always Trying to Scare Us?–Videos

Jörg Guido Hülsmann–The Ethics of Money Production–Videos

Jörg Guido Hülsmann–The Life and Work of Ludwig von Mises–Videos

Israel Kirzner–On Entrepreneurship–Vidoes

Paul Krugman–Videos

Hunter Lewis–Where Keynes Went Wrong–Videos

Liberal Fascism–Jonah Goldberg–Videos

Dan Mitchell–Videos

Ludwig von Mises–Videos

Robert P. Murphy–Videos

Robert P. Murphy–Government Stimulus: Repeating the mistakes of the Great Depression–Videos

Gary North–Keynes and His Influence–Take The North Challenge–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

George Gerald Reisman–Why Nazism Was Socialism and Why Socialism Is Totalitarian–Videos

Paul Craig Roberts–How The Economy Was Lost–The War Of The Worlds–Videos

Paul Craig Roberts–Peak Jobs–Videos

Llewellyn H. Rockwell, Jr–How Empires Bamboozle the Bourgeoisie–Videos

Murray Rothbard–Videos

Murray Rothbard–A History of Money and Banking in The United States–Videos

Murray Rothbard–The American Economy and the End of Laissez-Faire: 1870 to World War II–Videos

Murray Rothbard–The Case Against The Fed–Videos

Murray N. Rothbard–Introduction to Economics: A Private Seminar–Videos

Murray Rothbard–Libertarianism–Video

Rothbard On Keynes–Videos

Murray Rothbard– What Has Government Done to Our Money?–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

Larry Sechrest–The Anticapitalists: Barbarians at the Gate–Videos

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

Amity Shlaes–Videos

Julian Simon–Videos

Julian Simon–The Ultimate Resource II: People, Materials, and Environment–Videos

Thomas Sowell and Conflict of Visions–Videos

Thomas Sowell On The Housing Boom and Bust–Videos

Econ Talk With Thomas Sowell–Videos

Peter Thiel–Videos

Thomas E. Woods, Jr.–Videos

Thomas E. Woods–The Calamity of Anti-Capitalism: A Brief American History–Video

Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Tom Woods–Lectures On Liberty–Videos

Thomas E. Woods–The Market Economy–Videos

Tom Woods On Personal Rights and Property Ownership

Tom Woods–Smashing Myths and Restoring Sound Money–Videos

Tom Woods–Who Killed The Constitution

Tom Wright On The FairTax–Videos

Banking Cartel’s Public Relations Campaign Continues:Federal Reserve Chairman Ben Bernanke On The Record

Barack Obama

Voters Beware: The Radical Rules of Saul Alinsky and Leftist Democrats

President Obama’s Cloward-Piven Strategy of Controlled Crisis Creation Crippling Capitalism–Coup D-Etat On America

Cloward Piven Strategy–The Crisis Strategy Of Barack Obama

The Obama Depression: Lessons Learned–Deja Vu!

Second Amendment–Gun Control–The Joyce Foundation–Obama–Death By Gun Control and Political Correctness–Ft. Hood’s 9/11

Obama’s Plea for Ideas As Jobless Recovery Gets Worse–Massive Government Stimulus Spending Pump Priming Not Working–Go For FairTax, Nuclear Power and Criminal Alien Removal!

Obama’s Trick On The American People: Health Insurance Reform=Huge Hikes in Taxes and Premiums for Health Insurance and Massive Medicare Funding and Payment Reimbursement Cuts–Congressional Coercion–It’s Alive!

Rose Colored Glasses:The Economy Is Recovering–Where Are The Jobs? When Will Inflation Hit? 2012–Election Year!

The Coming Inflation and A New Money Supply Backed By Real Estate?–Free Enterprise To The Rescue?

White House Teamwork–The Chicago Way–Who Will White House Wackos Wack?–Watchdogs!

Progressive Radical Socialist Canned Criticism of American People: Danger, Profits, and Wrong Thinking

The Obama Depression Continues–Official Unemployment Hits Rate 9.8% (15,142,000 Seek Full Time Job) and Real Unemployment Rate Hits 17.0% (26,181,000 Seek Full Time Job)!

Guns and Butter–War and Peace–Victory or Defeat–Commander-in-Chief or Cheer Leader?

“We Can Reverse Climate Change”–President Barack Obama–Liar or Fool–Or Both–You Be The Judge!

Obama–Corruption Kingpin–Campaign Contributions and Support for Government Payoffs and Subsidies–Stealing From The American People To Payoff Obama’s Pals

Hype: The Obama Effect–Videos

Crime–Corruption–Organized Crime–ACORN–Taxes–Obama Connected And Trained

The Arrogance of President Obama: Hectoring Habitual Liar

Broom Budget Busting Bums: Replace The Entire Congress–Tea Party Express and Patriots–United We Stand!

Obama’s Civilian National Security Force–Youth Corp Wave–Friendly Fascism Faces–Cons–Crooks–Communists–Communities–Corps!

Obama’s Hidden Agenda and Covert Cadre of Marxists, Communists, Progressives, Radicals, Socialists–Far Left Democrats Destroying Capitalism and The American Republic

Apollo Alliance and Obama’s Green Czar Van Jones: Greens on The Outside–Reds On The Inside–Big Greens, Big Unions, Big Foundations, Big Business, Big Bucks, Big Taxes–Videos

Public Option = Government Option = Pathway to Single Payer = Single Payer = Socialized Medicine = Blue Pill = Poison Pill

Obama: First We Kill The Babies, Then We Kill The Elderly, Then We Kill The Veterans–Your Life, Your Choices–Your Time Is Up!

This Joker Is A Lost Cause: Keeping President Obama Honest on Health Care–Let’s But A Smile On That Face–Staying Alive

The American People Believe The Government Public Option Plan Is The Path To The Single Payer Government Plan–Socialized Medicine–Obama Caught Lying To The American People!

The American People Confront Obama’s Red Shirts (ACORN) and Purple Shirts (SEIU)–Bullhorns and Beatings Over Obama Care!

The Obama Depression Has Arrived: 15,000,000 to 25,000,000 Unemployed Americans–Stimulus Package and Bailouts A Failure–400,000 Leave Labor Force In July!

Obama’s Marching Orders For His Red Shirts (ACORN), Purple Shirts (SEIU) and Black Shirts (New Panther Party)–Progressive Radical Socialists

The Economic Consequences of Barack Obama’s Radical Socialist Agenda–Videos

The Bush Recession Is Over–The Obama Depression Has Begun!

Barack’s Bud Beer Bash or Bust–Do Not Confuse Me With The Facts I Have Made Up My Mind–Invincible Ignorance!

Hacker Obama (HO): We Are From The Federal Government and We Are Here To Help You–Don’t You Believe Him!–Cash For Clunkers or Invasion of Privacy???

Socialism’s Snake Oil Salesman–Barack Obama–Encountering Consumer Resistence and Voter Remorse

Obama Youth–Civilian National Security Force–National Socialism–Hitler Youth–Brownshirts– Redux?–Collectivism!

Obama’s Waterloo– Government Compulsory Single Payer Socialized Medicine!–Videos

President Obama’s Plan of Massive Deficit Spending Is Destroying The US Economy–The American People Say Stop Socialism BS Now!

Discover The Left’s Organized Crime Network–Crime Pays–Organized Crimes Pays More–Apply for Census Taker Jobs!

Chairman Obama’s Progressive Radical Socialist Health Care Bill Kills Individual Private Health Care Insurance–Join The Second American Revolution!

President Obama: A Teleprompter, A Teleprompter, My Popularity for A Teleprompter!

President Barack Obama Beats It–President Franklin Roosevelt Record–Worse Unemployment Numbers Since 1933–14,700,000 Unemployed Americans Greater than 13,000,000 in 1933!

The Obama Depression (OD) Starts July 4, 2009–30 Million Americans March To Tea Parties In Washington D.C. and Over 1,000 Cities and Towns Across America!

United States Economic Depressions–The Good, The Bad, and The Ugly–Obama’s Depression–Over 15,000,000 Americans Seek Full Time Job!

President Obama and His Keynesian Spending Cult of The Fascist Democrat Radicals–FDRs

Obama’s Opague Oppression–Collectivist Czars Or Commissars–Terminate Tyrants Tea Parties–Join The Second American Revolution

President Obama Fires Inspector General Gerald Walpin–Teapot Scandle Slowly Simmers!

Obama Throws The American People Under The Government Motors Bus!–Ice Tea Party Time!

Obama’s Organized Crime Syndicate: ACORN, CCI, SEIU, TARP, GE, Cap and Trade?–Video Exposé

Obama Fully Supports Ending Secret Ballot For All Employees–Are Voters Next?–Employee Free Choice Act a.k.a. Card Check is Ballot Check Next?

Failing The Iranian Test–Barack “Hamlet” Obama–To Be or Not To Be President of The United States And Commander-in-Chief?

President Obama Is Driving The American People Down The Highway to Socialism and Serfdom–Stop The Bus!

CIA Old Boy Network–Walking Back The Cat–Barack Obama–Who Recruited Him and For What End?

President Obama Delays E-Verify–Shame On You Mr. President!

President Obama’s Cloward-Piven Strategy of Controlled Crisis Creation Crippling Capitalism–Coup D-Etat On America
Barack Obama America’s Puppet President Pinocchio –The Transparent Lies–Ears and Nose Are Growing?

George Soros: Barack Obama’s Money Man and Agenda Puppeter

President Doom and Panic Obama’s Big Lie: More Government Spending Works and Tax Cuts Do Not Work

President Obama–Killer of The American Dream and Market Capitalism–Stop The Radical Socialists Before They Kill You!

A Fiscally Responsible President or The Flim-Flam Man–Never Trust A Lying Radical Socialist!

New Presidential Helicopters Modified for Conformal Fuel Tanks That Will Dispense Money!

President Obama’s Internet Attack On The American Family, Marriage and Values

Cap and Trade Carbon Dioxide Tax: Gore’s and Obama’s Revenge on The American People–Let Them Freeze and Sweat!

Al Gore 2.0 and The Coming Renewable Energy Ice Age–The Big Chill

Barrack Obama’s Kansas Values–Killing Babies in Cold Blood?

Eugenics, Planned Parenthood, Population Control, and Designer Babies–Videos

Read Full Post | Make a Comment ( None so far )

Murray Rothbard–Videos

Posted on November 15, 2009. Filed under: Blogroll, Books, Communications, Demographics, Economics, Employment, Fiscal Policy, government spending, Investments, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Programming, Rants, Raves, Regulations, Taxes, Technology, Video, War, Wisdom | Tags: , , , , , , , |

The Future of Austrian Economics

The Founding of the Federal Reserve

John Maynard Keynes: Hero or Villain?

Murray N. Rothbard: Libertarianism

The Gold Standard Before the Civil War

America’s Two Just Wars (1 of 5) Murray N Rothbard

America’s Two Just Wars (2 of 5) Murray N Rothbard

America’s Two Just Wars (3 of 5) Murray N Rothbard

America’s Two Just Wars (4 of 5) Murray N Rothbard

America’s Two Just Wars (5 of 5) Murray N Rothbard

The Current State of World Affairs

Background Articles and Videos

Keynes, the Man

By Murray Rothbard

“…Keynes was scarcely a “revolutionary” in any real sense. He possessed the tactical wit to dress up ancient statist and inflationist fallacies with modern, pseudoscientific jargon, making them appear to be the latest findings of economic science. Keynes was thereby able to ride the tidal wave of statism and socialism, of managed and planned economies. Keynes eliminated economic theory’s ancient role as spoilsport for inflationist and statist schemes, leading a new generation of economists on to academic power and to political pelf and privilege. …”

http://www.lewrockwell.com/rothbard/rothbard208.html

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The Battle For The World Economy–Videos

Frederic Bastiat–The Law–Videos

Yaron Brook–Videos

Friedrich Hayek–Videos

Milton Friedman–Videos

Milton Friedman on Education–Videos

Ludwig von Mises–Videos

The Fountainhead, Atlas Shrugged and The Ideas of Ayn Rand

Murray Rothbard–Videos

Peter Schiff–Videos

Schiff, Forbers and Bloomberg Nail The Financial Crisis and Recession–Mistakes Were Made–Greed, Arrogance, Stupidity–Three Chinese Curses!

L. William Seidman on The Economic Crisis: Causes and Cures–Videos

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The Obama Depression: Lessons Learned–Deja Vu!

Posted on November 15, 2009. Filed under: Blogroll, Books, Communications, Economics, Employment, Fiscal Policy, government spending, history, Immigration, Investments, Language, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Psychology, Quotations, Rants, Raves, Regulations, Resources, Technology, Video, Wisdom | Tags: , , , , , , , , , , |

“Those who do not learn from history are doomed to repeat it.”

~George Santayana

barack_obama

“…CONCLUSION:THE LESSONS OF MR. OBAMA’S RECORD

Mr. Obama met the challenge of the Obama Depression by acting quickly and decisively, indeed almost continuously throughout his term of office, putting into effect  “the greatest program of offense and defense” against depression ever attempted in America. Bravely he used every modern economic “tool,”  every device of progressive and “enlightened” economics, every facet of government planning, to combat the depression. For the first time, laissez-faire was boldly thrown overboard and every government weapon thrown into the breach. America had awakened, and was now ready to use the State to the hilt, unhampered by the supposed shibboleths of laissez-faire. President Obama was a bold and audacious leader in this awakening. By every “progressive” tenet of our day he should have ended his term a conquering hero; instead he left America in utter and complete ruin: a ruin unprecedented in length and intensity.

What was the trouble? Economic theory demonstrates that only governmental inflation can generate a boom-and-bust cycle, and that the depression will be prolonged and aggravated by inflationist and other interventionary measures. In contrast to the myth of laissez-faire, we have shown in this book how government intervention generated the unsound boom of 2002-2007, and how Obama’s new departure aggravated the Obama Depression by massive measures of interference. The guilt for the Obama Depression must, at long last, be lifted from the shoulders of the free market economy, and placed where it properly belongs at the doors of politicians, bureaucrats, and the mass of “enlightened” economists. And in any other depression, past or future, the story will be same.”

~Murray Rothbard, America’s Obama Depression

President Obama’s economic policies repeat those of President Herbert Hoover, who the late economist Murray Rothbard was writing about. Just replace Obama with Hoover, Obama Depression with Great Depression, and 2002 to 2007 with 1920’s and you have the original quote. I am sure Murray would be laughing.

Herbert_Hoover

“The wavelike movement effecting the economic system, the recurrence of periods of boom which are followed by periods of depression is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion.”

~Ludwig von Mises

 

Background Articles and Videos

George Nash on Herbert Hoover and the Great Depression

Barack Obama’s Favorite Economist–John Maynard Keynes–A Great Guy?

Keynes Is Dead—-Obama Digging Up Keynes–Free Market Capitalism Lives

Hunter Lewis–Where Keynes Went Wrong–Videos

Obama’s New New Deal: As bad as the old new deal?

Economics and Moral Courage

Why You’ve Never Heard of the Great Depression of 1920

Why the Meltdown Should Have Surprised No One

Keynesian Economics: The Beast That Won’t Die

Keynes and His Influence

 

The Future of Austrian Economics

The Current State of World Affairs

John Maynard Keynes: Hero or Villain? Murray Rothbard

 

Austrian Theory of the Trade Cycle

The Life and Work of Ludwig von Mises

Big Government Is Not Stimulus: Why Keynes Was Wrong (The Condensed Version)

Obama’s So-Called Stimulus: Good For Government, Bad For the Economy

 

 

The Battle Between Keynes and Monetarism in the UK part 1

The Battle Between Keynes and Monetarism in the UK part 2

Cargo Cult

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G. William Domhoff: Who Runs America–Videos

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G. Edward Griffin- On Individualism vs. Collectivism–Videos

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President Obama–Killer of The American Dream and Market Capitalism–Stop The Radical Socialists Before They Kill You!

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Rothbard On Keynes–Videos

Posted on October 25, 2009. Filed under: Blogroll, Communications, Economics, Employment, Fiscal Policy, government spending, history, Investments, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Resources, Video, Wisdom | Tags: , , , , , , , , , , |

rothbard

John Maynard Keynes

John Maynard Keynes

John Maynard Keynes: Hero or Villain? Part 1

 

John Maynard Keynes: Hero or Villain? Part 2

 

John Maynard Keynes: Hero or Villain? Part 3

 

John Maynard Keynes: Hero or Villain? Part 4

John Maynard Keynes and Hayek: Bruce Caldwell

Hayek on Milton Friedman and Monetary Policy

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus

 

Background Articles and Videos

 

John Maynard Keynes

“…John Maynard Keynes, 1st Baron Keynes, CB (pronounced /ˈkeɪnz/) (5 June 1883 – 21 April 1946) was a British economist whose ideas have been a central influence on modern macroeconomics, both in theory and practice. He advocated interventionist government policy, by which governments would use fiscal and monetary measures to mitigate the adverse effects of business cycles, economic recessions, and depressions. His ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots.

In the 1930s, Keynes spearheaded a revolution in economic thinking, overturning the older ideas of neoclassical economics that held that free markets would automatically provide full employment as long as workers were flexible in their wage demands. Following the outbreak of World War II Keynes’s ideas concerning economic policy were adopted by leading Western economies. During the 1950s and 1960s, the success of Keynesian economics was so resounding that almost all capitalist governments adopted its policy recommendations.

Keynes’s influence waned in the 1970s, partly as a result of problems that began to afflict the Anglo-American economies from the start of the decade, and partly due to critiques from Milton Friedman and other economists who were pessimistic about the ability of governments to regulate the business cycle with fiscal policy.[1] However, the advent of the global financial crisis in 2007 has caused a resurgence in Keynesian thought. Keynesian economics has provided the theoretical underpinning for the plans of President Barack Obama, Prime Minister Gordon Brown and other global leaders to ease the recession.[2]

In 1999, Time Magazine named Keynes one of the 100 Most Important People of the 20th Century and reported that, “His radical idea that governments should spend money they don’t have may have saved capitalism”.[3] Keynes is widely considered the father of modern macroeconomics, and by commentators such as John Sloman, the most influential economist of the 20th century.[4][5][6] In addition to being an economist, Keynes was also a civil servant, a patron of the arts, a director of the Bank of England, an advisor to several charitable trusts, a writer, a private investor, an art collector, and a farmer. …”

http://en.wikipedia.org/wiki/John_Maynard_Keynes

 

Murry Rothbard

“…Murray Newton Rothbard (March 2, 1926 – January 7, 1995) was an American intellectual, individualist anarchist,[1] author, and economist of the Austrian School who helped define modern libertarianism and popularized a form of free-market anarchism he termed “anarcho-capitalism”.[2][3] Building on the Austrian School’s concept of spontaneous order in markets, support for a free market in money production and condemnation of central planning,[4] Rothbard sought to minimize coercive government control of the economy. He considered the monopoly force of government the greatest danger to liberty and the long-term wellbeing of the populace, labeling the State as nothing but a “gang of thieves writ large” – the locus of the most immoral, grasping and unscrupulous individuals in any society.[5][6][7][8]

Rothbard concluded that virtually all services provided by monopoly governments could be provided more efficiently by the private sector (in particular, money production and coinage).[9][10][11] He viewed many regulations and laws ostensibly promulgated for the “public interest” as self-interested power grabs by scheming government bureaucrats engaging in dangerously unfettered self-aggrandizement, as they were not subject to market disciplines which would quickly eliminate such parasitic inefficiencies if they were to occur in the competitive private sector.[12][13][14]

He argued that taxation represents coercive theft on a grand scale, and “a compulsory monopoly of force” prohibiting the more efficient voluntary procurement of defense and judicial services from competing suppliers.[15][6] He also considered central banking and fractional reserve banking under a monopoly fiat money system a form of state-sponsored, legalized financial fraud, antithetical to libertarian principles and ethics.[16][17][18]

Rothbard opposed military, political, and economic interventionism in the affairs of other nations.[19][20] Rothbard wrote over twenty books before his death in 1995. …”

http://en.wikipedia.org/wiki/Murray_Rothbard

Keynes, the Man

By Murray Rothbard

“…Keynes was scarcely a “revolutionary” in any real sense. He possessed the tactical wit to dress up ancient statist and inflationist fallacies with modern, pseudoscientific jargon, making them appear to be the latest findings of economic science. Keynes was thereby able to ride the tidal wave of statism and socialism, of managed and planned economies. Keynes eliminated economic theory’s ancient role as spoilsport for inflationist and statist schemes, leading a new generation of economists on to academic power and to political pelf and privilege. …”

http://www.lewrockwell.com/rothbard/rothbard208.html

 

Murray N. Rothbard: Libertarianism

The Founding of the Federal Reserve

How Abolishing the Fed Would Change Everything

Federal Reserve: Handmaiden of Tyranny

John Maynard Keynes of Bloomsbury: Craufurd Goodwin

John Maynard Keynes as Policy Advisor: E. Roy Weintraub

John Maynard Keynes and Economics: Kevin Hoover

John Maynard Keynes and Hayek: Bruce Caldwell

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