Higher Education Today: A Chaotic Ton of Bricks

Written by Gary North on October 18, 2013

Fifty years ago today, the most important letter to the editor I ever read appeared in Science. I recommend that you read it. The letter was on the vast quantity of articles in scholarly journals. Nobody knew what to do with them. The writer called this “chaos in the brickyard.” Today, the pile of academic […]

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Border Patrol: On Keeping Out Suspicious Tourists

Posted on October 18, 2013

This is how low-level bureaucrats in the war on terrorism make sure that this nation is not attacked again by suspicious people. This man is from the Netherlands. He thought he would visit New Orleans. He will not make that mistake again. This incident confirms North’s law of bureaucracy: “Some bureaucrat will eventually enforce a […]

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Conterfeiting: A Federal Monopoly

Written by John Odermatt on October 18, 2013

One sure-fire way to end up being charged with a felony is by competing with a monopoly that is run by the State.  Crimes against the State are always pursued aggressively and punished to the highest letter of the law. Creating copies of the only approved fiat currency ranks at the top of the list. […]

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Bernanke Dodges the Courts . . . Until February 1

Written by Gary North on October 17, 2013

In 2008, Bernanke followed Treasury Secretary Hank Paulson’s lead. He supported a $182 billion bailout of AIG, which was about to go bankrupt. Had it gone bankrupt, it would not have paid Goldman Sachs $22 billion in mortgage insurance. So, AIG got its money, and Goldman Sachs got its money. The payouts to big banks […]

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Cooked Books for 150 Days: $16,699,396,000,000

Written by Gary North on October 17, 2013

The Republicans capitulated this week. This comes as no surprise. Resisting the increase in the debt ceiling was a charade. The debt ceiling was breached in the week of May 17, but that was officially ignored by all. Treasury Secretary Lew set the rules, and Congress played his game. The House for 150 days accepted […]

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A Constitutional Debt Default

Written by Robert Murphy on October 17, 2013

Nope. Or at least, I have as much authority in saying that, as the bloggers and pundits who claim otherwise. Here’s what the relevant section from the Fourteenth Amendment says: Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for […]

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Yellen to the Rescue?

Posted on October 17, 2013

By Axel Merk While Democrats and Republicans fight with water pistols, the President may be readying a bazooka by nominating Janet Yellen to succeed Ben Bernanke as Fed Chair. You may want to hold on to your wallet; let me explain. Water pistols Our reference to water pistols refers to our assessment that bickering over […]

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“Gravity” in Washington — Not Gravitas

Written by Gary North on October 16, 2013

I went to see “Gravity.” It is one of the great cinematic experiences ever. It is to this generation what “Destination Moon” was in 1950 — and with one of the same scenes: the use of compressed gas to propel a person in space. (See it at 54 minutes.) The movie hinges on a catastrophe: […]

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