Bitcoin Heist: $5 Million

Written by Gary North on January 6, 2015

Bitcoins are now around $276 each. The rout continues. Now there is this bad news. Bitcoin exchange Bitstamp has frozen accounts and transactions while it investigates a breach. Hackers have stolen more than $5 million in virtual currency from Bitstamp, a major bitcoin exchange, forcing the company to freeze user accounts, suspend trades and block […]

Continue reading →

Oil Rigs Shutting Down

Posted on January 6, 2015

U.S. oil drillers laid down the most rigs in the fourth quarter since 2009. And things are about to get much worse. The rig count fell by 93 in the three months through Dec. 26, and lost another 17 last week, Baker Hughes Inc data show. About 200 more will be idled over the next […]

Continue reading →

Amazon Opens Sales to Small Businesses

Posted on January 6, 2015

FingersWalkig

This is a puff piece, but the numbers are accurate. The growth is staggering; 65% in one year. Shopping malls will be mostly beauty salons and Subway restaurants in a decade. Amazon today announced that sellers on Amazon sold a record-setting more than 2 billion items worldwide in 2014. The number of sellers on Amazon […]

Continue reading →

Senate: The Republican Sellout Has Begun

Posted on January 6, 2015

McConnell said the GOP could look to repeal the health care law or strike elements of it, like its tax on medical devices, the mandate requiring individuals to buy insurance or pay a penalty, or the definition of full-time work as 30 hours a week. “We’ll be voting on things I know he’s not going […]

Continue reading →

Goodbye, Euro. Hello, National Sovereignty.

Written by Gary North on January 5, 2015

The leader of Greece’s far Left party says the party will pull the country out of the Eurozone if it comes to power in late January. It is expected to come to power. This will allow Greece to restore its national sovereignty over money. That will lead to more inflation. The Greek central bank will […]

Continue reading →

Bubbles, Boobs, and Bentleys: “Let’s Party!”

Posted on January 5, 2015

The 2008 recession hit strip clubs hard initially, but the industry made adjustments to survive and to capitalize when the economy picked up. For example, Sapphire Gentlemen’s Club runs a party called SINS every Sunday night. According to SINS promoter Ruben Aranata, “Initially we started SINS as a collaborative experiment of NY nightlife/club meet gentleman’s […]

Continue reading →

A $75 1957 Truck Bought in 1976 Is Still Rolling Along

Posted on January 3, 2015

When Bob Sportel spent $75 on a Chevrolet pickup, he had no idea it would still be trucking along just fine 38 years later. Sportel drove the 58-year-old truck to his job at Prinsburg Farmers Co-op in Prinsburg, Minnesota, for nearly four decades before he finally retired this week. He bought it from a farmer […]

Continue reading →

Governments Are Desperate to Limit the Internet. Too Late.

Written by Gary North on January 3, 2015

Around the world, governments are trying to limit the Internet. These efforts are futile. The technology of evading the government is governed by Moore’s law: a doubling of capacity every 12 months. The governments are governed by Parkinson’s law: “Work expands so as to fill the time allotted for its completion.” We see headlines like […]

Continue reading →

Gridlock Is Coming. Rejoice While You Still Can.

Written by Gary North on January 3, 2015

Gridlock is coming to Washington. The middle-of-the-roaders don’t like this, but it’s coming. As long as Obama is in power, Republicans can play their role as defenders of liberty. This will of course end as soon as Republicans control both houses of Congress and the White House, as they did in 2001. The New York […]

Continue reading →

Donna Douglas Aged Terribly

Written by Gary North on January 3, 2015

DonnaDouglas

Donna Douglas — Elly Mae Clampett on The Beverly Hillbillies in the 1960’s — did not age well, as we can see on this Google News report. We all know we will suffer a decline as we age, but something like this saddens us. Will it happen to us?

Continue reading →