An overview of Climategate, the role of tree ring data and the divergence problem. Details how the CRU manipulated the raw data to hide the divergence problem and generate the infamous ‘hockey stick’ graph. Continue reading
Will the upcoming economic crisis be deflationary or inflationary? Who wins in the battle between decreasing velocity of money and QE money printing? Continue reading
The 30 year bull market in bonds is coming to an end. Attempts to keep the financial system from collapsing over the last five years have merely set the stage for a larger collapse. Government debts have exploded. Central banks have desperately lowered interest rates to near-zero and resorted to outright monetization of the debt. Recent events show us that the mere suggestion of possible future tapering is enough to cause an immediate and violent reaction in bond yields.
There’s no way out. The bondpocalypse come’th. Continue reading
Were governments to raise all funding through taxes the people would revolt. Inflation provides a mechanism whereby people can be taxed without their knowledge or understanding. This currency debasement is only made possible due to the control of interest rates and the extent to which this is able to distort, obfuscate and manipulate the economy. We have allowed the State to eliminate the free market for the most important price that exists in a capitalist system: The price of money – interest rates. In so doing we consigned ourselves to a permanently sub-optimal economy.
No, we don’t have free market capitalism. Not even close. Welcome to the managed economy. Continue reading
The free market system always leads to optimal prices. The price discovery mechanism will dynamically adjust to shortages, oversupplies or any other disruptions or changes in the market. There is nothing government needs to do other than trust in the natural profit seeking behaviour of the individual and stay out of the way. Unfortunately, government can’t resist the temptation to fix a system which isn’t broken. Continue reading
Bashar al-Assad is a brutal dictator whose forces are responsible for both long term oppression of the Syrian people and many egregious atrocities during the present civil war.
But the FSA is clearly the greater of two evils. What began as a legitimate uprising by the people has been thoroughly co-opted and dominated by foreign Islamic extremists bent on imposing Sharia law and genocide for all infidels. Continue reading
Lack of tanker support would not have prevented F-16s from AFB Aviano from flying close air support (CAS) in time to prevent the fatal attack on the Annex in Benghazi. NAS Sigonella could have been used as a way-station for these CAS missions. Continue reading
“We shall have world government whether or not you like it – by conquest or consent.” – Paul Warburg to the U.S. Senate Foreign Relations Committee during a hearing on February 17, 1952. When most people in Western nations talk … Continue reading
My last post detailed the deteriorating security situation in Libya in the lead-up to the September 2012 attack that resulting in the deaths of four Americans including the U.S. ambassador to Libya, Chris Stevens. Today I want to present a … Continue reading
This will be the first in a series of posts looking at various aspects of the attack on the U.S. Special Mission Compound (SMC) and ‘Annex’ facilities in Benghazi on September 11th and 12th, 2012. My goal for the series … Continue reading