Is the American Political System the latest Bubble?

The best way to look at this, I think, is that there’s a spectrum of default severities. At one end, you have the outright repudiation of sovereign debt, a la Ecuador in 2008; at the other end, you have the sequester, which involves telling a large number of government employees that the resources which were promised them will not, in fact, arrive.

Both of them involve the government going back on its promises, but some promises are far more binding, and far more important, than others.

Right now, we’ve already reached the point at which the government has broken very important promises indeed: We promised to pay hundreds of thousands of government employees a certain amount on certain dates, in return for their honest work. 

We have broken that promise. By Treasury’s own definition, it’s reasonable to say that we have already defaulted: surely, by any sensible conception, the salaries of government employees constitute “legal obligations of the US”

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Creating Wealth In Times of Uncertainty

Worldwide wealth seems to be a bygone concept.

But is it? Though the global marketplace is alive and vibrant, oppressive regulations, mismanagement, and outright corruption have damaged wealth creation. But it hasn't been eliminated.

Today's global marketplace still provides opportunity for discerning investors and companies who are willing to look beyond obstacles of ideology and culture.

There is an old financial adage that says "Capital is coward."

It is true.

Capital does not like to be inconvenienced, restricted, or threatened. Those who control capital know there is a choice and can move it to more accommodating environments

Making money is a sovereign human activity that is universally recognized as a natural right.

History clearly shows that governments that have tried to contain, regulate, or otherwise usurp capital have failed.

It is the same with brainpower; no one has a monopoly on brainpower. Brainpower creates capital, and capital fuels brainpower

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Private Regulation as an Alternative to Government Regulation

Private Regulation as an alternative to Government Regulation. - Some Food For Thought - By Dr. Edward Stringham - Financial Policy Council


Dr. Edward Stringham is a professor of economics and entrepreneurship. He is past president of the Association of Private Enterprise Education, editor of the Journal of Private Enterprise, editor of two books, and author of more than two dozen articles in refereed journals, including Journal of Economic Behavior and Organization, Journal of Institutional & Theoretical Economics, and Public Choice. His most recent book, Private Governance, will be published by Oxford University Press.

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http://financialpolicycouncil.org/MMedia.aspx?vname=http://www.youtube.com/watch?v=ZrAEL0wnQk4



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Defending the Rich from the Author of Economic Warfare

The economic future of the poor—and our nation—will be determined in the coming decades by how we treat the people in this country who create great wealth. 

It will be determined by our understanding of the so-called rich and by our need to foster and protect this minority of true wealth creators. 

It is an unpopular thing to say...Rich people need help?
 
Rich people need to be protected? 

Rich people a minority? 

“Give me a break,” people say. “They just seem to keep getting richer!”
Consider the entrepreneur who risks all of the capital he can muster from his family and friends to build a company that fills an undeserved niche in the market, provides a needed service, or develops a new technology. These are the people bureaucrats and career politicians have deemed “the rich.” These are the people they have targeted for appropriation to support their unsustainable way of life.

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