… A passenger waiting at his gate in the Port Columbus [Ohio] International Airport recently filmed two of the TSA’s minions doing what they do best: harassing innocent, peaceful passengers.
Blue shirts and gloves glowing, the duo ordered victims to present their potables for “testing.” Then they waved a magic strip of paper over the liquid and dripped a potion the TSA won’t identify on the paper. (As Bill Fisher, [...]
Robin Hood robbed the rich to pay the poor; now Uncle Sam is robbing the old to pay the young — raiding pension funds to keep student-loan rates artificially low. President Obama’s much-touted plan to put a one-year freeze on student interest rates was signed into law with great fanfare this month. But the bill’s supporters hadn’t said where the money to subsidize the lower rates would come from. Columnist [...]
This problem is clearly solved in Islamic banking, where we tie risk with reward. If you buy a stock you own a piece of the pie, and you tie risk with reward.
If you charge people for money instead, you do not tie yourself down to that investement. Usury is the idea of charging for money. It makes sense, in retrospect, why the [...]
The must read report, has three parts explaining why spending is about sources, not cost, the differential between wealth and the Chinese imbalance, and the last part emphasizes the Bernanke put, i.e., how there is no longer real risk in the decision-making process. For those who enjoy flipping to the last page of a book, here is the conclusion: “QE 2.0 moves us further [...]
I’m watching China: Sky rockening prices have eroded confidence among Chinese consumers, which fell for the first time in six quarters, an index showed yesterday.The Chinese Consumer Confidence Index plunged to 104 in the third quarter from 109 in the previous three months, according to a study jointly released by the Economic Monitoring and Analysis Center under the National Bureau of Statistics and the [...]