Digital Tulips: The Bitcoin Mania

Written by Gary North on December 3, 2013

In 1637, the tulip bulb investment mania peaked in Holland. It had made some people rich. Now it was about to make others poor. Bulb prices rose steadily throughout the 1630s, as ever more speculators wedged into the market. Weavers and farmers mortgaged whatever they could to raise cash to begin trading. In 1633, a […]

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Bitcoins: The Road to Investment Hell

Written by Gary North on December 3, 2013

Recently, the Economic Policy Journal ran an article, “Is Bitcoin Money: What Economists Have to Say.” The editor asked a dozen economists. Two said “yes, Bitcoins are money.” Here is the answer of one of the “yes” economists. Yes. Bitcoin is money because it is limited in amount by internal characteristics enforced by the laws […]

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Small Banks Disappear. So Do Loans to Small Businesses.

Written by Gary North on December 3, 2013

The number of banks is down to just under 6,900. There were 7,000 a year ago. Banking regulation adds to costs. This wipes out small banks. It subsidizes big banks. Which banks caused the crisis of 2008? Large banks. Which banks got the lion’s share of the bailouts from Congress and the Federal Reserve? The […]

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I Want You to Send Me $1,000. OK?

Written by Gary North on December 3, 2013

People ask me to do this. I thought I would ask you. Dear Dr. North: You have never heard of me. Please send me $1,000. Thanks. Billy Joe Jones This sounds like a nutty letter. I have never received such a letter. Let me rewrite it. Dear Dr. North: You have never heard of me. […]

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ObamaCare: “Mayday! Mayday!” Says New York Times

Written by Gary North on December 2, 2013

The New York Times ran a long article on the panic in the White House over the failure of www.healthcvare.gov. Obama is now in full-time damage control. The end of the article gives some indication of his strategy: pretend the site is not there. “Website? Never heard of it!” In the White House, aides to […]

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Video: CNN Tests www.Healthcare.gov. “Error”

Written by Gary North on December 2, 2013

The government insists that the site works. It can handle 50,000 people at one time. It could not handle CNN. The government admits that there is one minor problem. You cannot actually buy a policy. That section of the site is “a work in progress.” Translation: the site does not work. But the ObamaCare public […]

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DOA: Unions Push for a $15 Minimum Wage

Written by Gary North on December 2, 2013

This week, fast food workers are striking in 100 cities. They are striking for a federal minimum wage law. . It will be a one-day strike. It’s really a protest, not a strike. The strike will demonstrate clearly that the trade union movement has no power. There will be very few workers involved. It will […]

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Bitcoins: The Second Biggest Ponzi Scheme in History

Written by Gary North on November 29, 2013

I hereby make a prediction: Bitcoins will go down in history as the most spectacular private Ponzi scheme in history. It will dwarf anything dreamed of by Bernard Madoff. (It will never rival Social Security, however.) To explain my position, I must do two things. First, I will describe the economics of every Ponzi scheme. […]

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Rival Religions: Christianity vs. the Public Schools

Written by Gary North on November 29, 2013

Five decades ago, R. J. Rushdoony’s book on American education, The Messianic Character of American Education,  was jointly published by the tiny publishing house, Presbyterian and Reformed, and the newly created Craig Press. It remains the most academically rigorous critique of the philosophy of progressive education ever written. Its title tells all. This book was […]

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The Economics of Thanksgiving

Written by Gary North on November 28, 2013

O give thanks unto the LORD; for he is good: for his mercy endureth for ever. O give thanks unto the God of gods: for his mercy endureth for ever. O give thanks to the Lord of lords: for his mercy endureth for ever (Psalm 136:1-3) This phrase appears in many of the Psalms, but […]

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