Scott Brown: A Mere Speed Bump on the Conservatives’ Road to Serfdom

Yesterday’s allegedly “surprising” election of Republican populist Scott Brown to the Massachusetts Senate seat occupied by the late Ted Kennedy since 1962 — a win which removes the 60-seat, filibuster-proof “super-majority” for Democrats in the U.S. Senate — seems to worry the illiberal-regressive Democrats who’ve control Washington since 2006, while it heartens the religious-conservative Republicans […]

On The White House “Disinformation” Campaign

Dear White House: You wrote the following, at this web-site: “There is a lot of disinformation about health insurance reform out there, spanning from control of personal finances to end of life care.  These rumors often travel just below the surface via chain emails or through casual conversation.  Since we can’t keep track of […]

Obama’s Plans Will ‘Work’ — To Breed Servile Dependence

The political left-wing in America and most Democrats are hopeful, even gleeful, that “Obamanomics” might “vanquish” Reaganomics,[1] that tax-hiking, pork-dispensing schemes aimed at boosting consumption and government (a la John Maynard Keynes)[2] will displace tax-cutting, supply-side policies devoted to boosting production and profitable entrepreneurship (a la Jean-Baptiste Say). In the process, Obama’s allies are unfazed […]

The GOP Betrayal of Capitalism, Alan Greenspan’s Lies and The Scapegoat Phase of the Bear Market

Near the end of nearly every bear market and banking crisis in modern times typically comes what might be called the “scapegoat phase” — a grueling, seemingly endless, multi-month period of further bearishness due not so much to worsening, underlying fundamentals, but to business-bashing, populism, demagoguery, Congressional show trials, and legislative-regulatory uncertainty. In this rather […]

Another Nail in the Coffin for Property Rights

The U.S. Supreme Court last week ruled that it’s perfectly legitimate for a local government to seize private property, pay a below-market price and hand it over to another private citizen or company that claims it can do more with the property — i.e., better develop it and pay more taxes to the local government.[1] […]

Dispelling Some Crude Myths About Oil’s Real Impact

Economists are beginning to panic about the recent run-up in the oil price (+36%, year to-date, to $44.4/barrel) and its likely future impact on stock prices, profits and output in the U.S. But there’s no reason to panic. A fast-rising oil price is no necessary impediment to forthcoming growth. Other negative factors are required. In […]

Persecution of Microsoft is Immoral

The government’s persecution of Microsoft continues unabated. The U.S. appeals court is now considering whether the Bush administration and 19 states negotiated an adequate settlement in their antitrust case against Microsoft. It’s time for the American public to stand up and defend–morally defend–the right of this company to its success and profits. Imagine a company […]

Review of the Prime Movers: Traits of the Great Wealth Creators

We’ve all heard about the alleged “robber barons.” For decades the world’s successful wealth creators – from Rockefeller to Gates – have been brushed with that smear. But Dr. Locke shows that the smear just can’t stick. The wealth creators aren’t the dishonest, short-range, conniving bullies we’ve long been told. Instead, they’re both productive and […]

Turning Iraq Into Another Iran

Turning Iraq Into Another Iran

Many commentators have remarked recently that the U.S. stock market has not rebounded by as much as they expected, especially given the recent, rapid U.S. military success in Iraq. But these observers fail to recognize that the market is forward-looking — and fail to see that the market accurately anticipated a quick U.S. victory in […]

Deflation Myth

U.S. Federal Reserve officials, including Fed chairman Alan Greenspan, and commentators in the financial media have been worrying about deflation (a rise in the purchasing power of a currency) in recent years and months. It’s hard to figure why. Not only is deflation non-existent, but if it did exist it would be bullish for the […]

U.S. War on Iraq is Morally Legitimate

CAP MAG EXCLUSIVE: As the U.S. military stands poised (finally) to wage war against the Iraqi regime — merely one spoke in the “Axis of Evil” — critics of the Bush Administration and apologists for terror regimes claim that there’s been a “failure of diplomacy.” The U.S., they assert, should have persisted in seeking yet […]

Markets, the Dollar, and the “War on Terrorism”

Investors should expect continued weakness in the dollar over the coming months and year, by 8-12% against most major currencies. Dollar weakness this year already has exerted a bearish influence on U.S. stocks and will continue to do so with a lag. If, as we expect, the greenback weakens further, the bearish influence will persist […]

A Spring-loaded Bull Market

U.S. corporate profits rose 56% in the first half of 2002, yet stock prices have plunged. The problem is not corporate governance, it’s political governance Contrary to popular opinion, most of America’s CEOs are doing a fabulous job. On the heels of a 50% profit plunge in 2001 — a plunge caused primarily by policies […]

The Trend Toward Totalitarian Government

A truly civilized, wealth-respecting world would observe capital flight and brain drains, recoil in horror and stop penalizing success. It would cut tax rates and regulation and cease calling wealth-makers as criminals who deserve a noose — or deportation. But this is not the response we’re seeing today. Instead there are calls for ever-greater tax […]