Archive for September, 2008
Long live the RFC!

Most readers do not have access to the electronic archive of the New York Times (1851-present) or other major newspapers. If they did, they could read the rhetoric of 1930-1931 about the banking crisis of that time (the real banking crisis began a year after the Stock Market Crash). In late 1931, President Herbert...
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Zimbabwe Faces Starvation

As a result of dictator Robert Mugabe’s policies, the people of Zimbabwe now face starvation. Having destroyed agricultural production in the country by ending private ownership of land and farm-product markets, creating enormous hyperinflation to fund his military/police state (see here, here and here), torturing and killing opposition critics, and banning humanitarian aid (until...
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Higgs: Why Did the Great Depression Last So Long?

Robert Higgs helps us all understand in this great interview by Scott Horton at Antiwar Radio. They discuss the relationship between the inflation of World War One, the roaring ‘20’s and the Great Depression, Fed chief Ben Strong’s deal with the Bank of England’s Montague Norman to inflate in the 1920s in order to...
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Good News for a Change. . . But the Unchained Fed Inflates Onward

The House defeats the bailout bill. Let’s hope it’s the death of it. Let’s hope, against all odds, the feds manage to be restrained by gridlock from such massive interventions for another year or so. Then we can recover and learn the lessons the less hard way, for a change. Writes Manuel Lora: Ah,...
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Richard Milhous McCain Debates John Fitzgerald Obama

Last night, I kept expecting Obama to echo Kennedy’s warning in his 1960 debate with Nixon about the need to close the non-existent “missile gap.” While he was more restrained than McCain on Iraq and Iran, his differences on other foreign policy issues were generally paper thin.Like McCain, Obama endorsed the General Jack Ripperesque...
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FEMA’s Expansion Threatens Charitable Competition

In 2003, in the aftermath of 9/11, the Federal Emergency Management Agency (FEMA) was placed under the Department of Homeland Security. The disastrous aftermath of Hurricane Katrina two years later marked the first test of the new FEMA, and there is widespread agreement that the agency utterly failed. Much of the tragedy following Katrina...
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Too Tasty to Fail

Maryland’s blue crab industry has qualified for federal protection. Thanks to Jeff Tucker for the news.

Anti-New Deal Newsreel

Here is a rare respite for the standard pro-New Deal newsreels that usually can be found on YouTube. It is a sympathetic depiction of Fred Perkins, a battery manufacturer from York, Pennsylvania who chose to go to jail rather than obey the mandates of the National Recovery Administration.

“Diversity” versus Freedom: The Tragic Case of Southern Illinois University

In the early 1990s, I entered academia when the “diversity machine” was cranking up. Today, it is completely out of control: religious freedom, racial freedom, free speech and a free press are all at risk. The courts struck down the “speech codes” but they reemerged under the cover of “sexual harassment policy.” My own...
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Credit Is Flowing, Sky Is Not Falling, Don’t Panic

In democratic societies, every great surge of the government’s size, scope, and power rests on a foundation of fear, and the present occasion is no exception. The president, the secretary of the treasury, congressional leaders, and the vultures now swarming Washington to pick the remaining flesh from the taxpayers’ bones would have us believe that unless the...
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