The world was taken by surprise recently by the Federal Reserve Board's announcement that it would publish some of its economic forecasting that forms the basis for its short-term interest rate strategy. The Fed claims that the move will vastly increase so-called...
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Who is the Real Barack Obama?
For most of his time as a national political figure, Barack Obama has been careful to cloak his core socialist leanings behind a veil of pro-capitalist rhetoric. This makes strategic sense, as Americans still largely identify as pro-capitalist. However, based on his...
Why Is The U.S. Dollar Rising Against The Euro?
Recent U.S. economic data, such as the modest drop in the unemployment rate and the massive expansion of consumer credit, have suggested that the American economy is finally recovering. Opposite conclusions are being thrown at Europe, where many are convinced that...
How The Economy Works
An excerpt from Objective Economics: How Ayn Rand’s Philosophy Changes Everything About Economics by Northrup Buechner. Here is the fundamental problem of economics: Every consumer good that you buy reaches you through the cooperation of literally...
Unions vs. “Right-to-work”
A number of conservatives, such as Senator Rand Paul, have been promoting “right-to-work” legislation in response to the growing power of labor unions. On the surface, such legislation might appear to be consistent with free market principles. But is it? Wikipedia...
2012 Offers Few Reasons for Optimism
As the year draws to a close, understandable confusion reigns in the minds of many investors. While short-term indicators, such as consumer confidence, appear to beckon recovery, the longer-term strategic issues remain shrouded in the smoke and mirrors of central bank...
No Courage To Face The Music in America or Europe
As the year draws to a close, understandable confusion reigns in the minds of many investors. While short-term indicators, such as consumer confidence, appear to beckon recovery, the longer-term strategic issues remain shrouded in the smoke and mirrors of central bank...
Risky Moves Spark Quick Rally
Last week, with liquidity concerns reaching a crisis point for Europe, central banks around the world, led by the U.S. Federal Reserve, stepped in to provide emergency measures to insure that the financial gears continue to turn. At the same time, the European Central...
Euro and the Dollar: Whose Fuse is Shorter?
With fiscal time bombs ticking in both Europe and the United States, the pertinent question for now seems to be which will explode first. For much of the past few months it looked as if Europe was set to blow. But Angela Merkel's refusal to support a Federal Reserve...
The Redistribution of Health
In her famous novel Atlas Shrugged, Ayn Rand identified the absurdity of placing one’s life in the hands of doctors whose lives had been throttled by socialized medicine. Socialized medicine, because of the government monopoly it imposes on both doctors and...
In Praise of the Capitalist 1% Percent
“The wealth of the 1 percent provides the standard of living of the 99 percent.”
Mortgage Crisis Goes Primetime
A near-death experience often provides needed perspective to effectuate real change. But no matter how often the over-regulated and over-subsidized US banking sector flirts with disaster, it never seems to change its ways. Three years have gone by since subprime...
President Obama Promotes Plan to Raise College Tuitions
President Obama today announced a plan that will ensure students are able to commit to higher levels of federally backed student loans. By limiting student obligations to repay, and by passing more of the repayment burden onto taxpayers, colleges and universities will...
President Obama Promotes Plan to Raise College Tuitions
President Obama today announced a plan that will ensure students are able to commit to higher levels of federally backed student loans. By limiting student obligations to repay, and by passing more of the repayment burden onto taxpayers, colleges and universities will...
Greek Bondholders at a Loss
In an agreement announced overnight, the European Union offered $100 billion to stem an imminent Greek debt default in exchange for a 50% haircut to Greek bondholders. This is a bittersweet victory for those of us who believe in the power of the free market. When the...
Cain's 9-9-9 Plan: Raising Taxes on The "Lower Class"?
Some people criticize Herman Cain's 9-9-9 plan for the wrong reasons. Advocates of wealth redistribution complain that it raises taxes on the lower and middle working classes. This is true. Many of them will actually have to start paying some taxes rather than none at...
Greeks May Look North To Iceland’s Debt Default
As a final bailout framework for Greece continues to elude negotiators from France and Germany, the situation on the ground in Athens continues to deteriorate alarmingly. Protests have turned increasingly violent and riots have occurred in the most sensitive portions...
Greeks May Look North To Iceland’s Debt Default
As a final bailout framework for Greece continues to elude negotiators from France and Germany, the situation on the ground in Athens continues to deteriorate alarmingly. Protests have turned increasingly violent and riots have occurred in the most sensitive portions...
Herman Cain's 9-9-9-9 Plan
Herman Cain has been gaining much traction with his 9-9-9 Plan, a bold proposal to replace our dysfunctional tax code with what could be a simpler, less invasive, and more economically stimulative alternative. While I don't agree with the full spectrum of Mr. Cain's...
Economic Ideas and Their Consequences
The public standing of economics and economists has been declining for some time. In the 1960s and 1970s, economists were seen, and they saw themselves, as the saviors of the economy. They talked of “fine-tuning” the economy, of changing government...
The End of Civilization As We Know It
What we are seeing in Europe is that that model is inherently unsustainable. The concept of individual rights is the only standard for government action that puts an objective limit on what the government can do. The post-war leaders of Europe were completely ignorant...
Objective Economics: The Implications of Ayn Rand's Philosophy on the Science of Economics
Objective Economics: How Ayn Rand’s Philosophy Changes Everything About Economics is the product of forty-eight years spent studying Ayn Rand’s philosophy of Objectivism and the science of economics. When I read Atlas Shrugged in 1962, I was stunned...
Fiddling While The Euro Burns
Last week, eurozone finance ministers postponed, yet again, the most difficult decisions on the Greek debt crisis. The assembled powers could have forced an orderly Greek default or they could have taken steps to push Greece out of the union. Instead, they simply...
Fiddling While The Euro Burns
Last week, eurozone finance ministers postponed, yet again, the most difficult decisions on the Greek debt crisis. The assembled powers could have forced an orderly Greek default or they could have taken steps to push Greece out of the union. Instead, they simply...
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