Safe-Cracking: The Myth of a Secure Military

Written by Robert Murphy on January 15, 2015

On NPR today they were talking about cybersecurity. The host made a throwaway remark along the lines that with private businesses, you couldn’t expect a full-throated response to the threats his expert guests were discussing, because they responded to the profit motive and it “wasn’t like Los Alamos.”Here the host was referring to the famous […]

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Where Did the French Terrorists Get Trained?

Posted on January 15, 2015

MOSCOW, January 12. /TASS/. Russian Foreign Minister Sergey Lavrov said on Monday that last Wednesday’s attack on a French satirical magazine was committed by militants who had fought in Syria for the West-backed aim of ousting Syrian President Bashar al-Assad from power. “Cooperation [with the West on counter-terrorism] has been suspended. Meanwhile, terrorists do not […]

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Bitcoins Are in Free-Fall: “Enrons”

Written by Gary North on January 14, 2015

A week ago, a bitcoin cost about $290. Today, $190. The price went through $250 like a hot knife through butter. This is not a currency. This is a speculative market supported by programmers under age 30 with hardly any money. This financial sinkhole has moved from over $1,200 in late 2013 to this. A […]

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Follow the Money: Congressional Money

Written by Gary North on January 14, 2015

If you want to know who is buying whom, or subsidizing whom, there’s an app for that. It’s called AllAreGreen. It’s free. You can use it to see how much money Congressional candidates received, and from whom. This is going to be a godsend for news reporters. A 16-year-old kid has done their legwork for […]

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Copper Falls, Stocks Fall

Written by Gary North on January 14, 2015

CopperCrash

Of all commodities, copper’s price is the favorite indicator of how well the economy is doing. If demand is falling now, manufacturing is heading for the skids. Demand is falling now. Yesterday, the Dow Jones Industrial Average opened up by over 200 points. Later in the day, copper fell a startling 6%. The DJIA closed […]

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Food Stamps Charts

Written by Gary North on January 14, 2015

FoodStamps14

Here is the total number of Americans receiving food stamps. Here is he percentage of Americans receiving food stamps. If this is recovery, what will the next recession bring? Do you believe any of this is going to change, other than in the Great Default? Farm state voters love it. The Department of Agriculture loves […]

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The Fable of the Bees Revised

Written by Gary North on January 13, 2015

The most influential poem in history is Bernard Mandeville’s “The Grumbling Hive; or Knaves Turned Honest” (1705). It challenged Western moral philosophy, Christian theology, and common sense. It changed the thinking of Western social theorists. Through Adam Smith, it changed the economic world. Yet it was not a good poem. This gives me hope. You […]

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Central Bank Follies: We’re All Japanese

Posted on January 13, 2015

An interview with financial expert Gerard Minack, a bear.   Fairfax: What are the big global risks you see out there in the coming few years? GM: The biggest bubble out there is central bank credibility. If Draghi was a stock he’d be on a P/E of 200. Yellen’s on 100. When that bubble pops, all hell […]

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