About This Blog

Ludwig von Mises (1881-1973) was the greatest economist of my time. His greatest works can be accessed here at no charge.

Mises believed that property, freedom and peace are and should be the hallmarks of a satisfying and prosperous society. I agree. Mises proved beyond a shadow of a doubt that the prospect for general and individual prosperity is maximized, indeed, is only possible, if the principle of private property reigns supreme. What's yours is yours. What's mine is mine. When the line between yours and mine is smudged, the door to conflict opens. Without freedom (individual liberty of action) the principle of private property is neutered and the free market, which is the child of property and freedom and the mother of prosperity and satisfaction, cannot exist. Peace is the goal of a prosperous and satisfying society of free individuals, not peace which is purchased by submission to the enemies of property and freedom, but peace which results from the unyielding defense of these principles against all who challenge them.

In this blog I measure American society against the metrics of property, freedom and peace.

Sunday, July 31, 2011

The Wizards of Oz

Boehner, Reid, Obama and company are still pulling the levers, pushing the buttons and filling the room with smoke and mirrors. The epic "compromise" they unveiled tonight barely even supplies a speed bump to government spending and the size of government.


First, this "compromise" will result in barely $4-billion (yes, I said BBBillion) in real spending cuts over 10 years.

Second, in short order US Treasury Bills will be downgraded.

Third, in due course interest rates will rise substantially.

Fourth, economic activity in this country continues to tank.

Fifth, this "compromise" bill will not pass.

Sixth, Obama will unilaterally raise the debt ceiling.

Seventh, Obama will declare martial law before his term in office ends.

A post script: Obama made reference tonight in his short message to the nation that this "compromise" will drop "domestic discretionary spending to its lowest share of our economy since Dwight Eisenhower was president."

Before you fall for this line of BS, it may do you well to re-read this article from PolitiFact.com.

Could it be that Obama repeats this lie time and time again in order to give the impression that government spending is declining, when the truth is government spending is growing?

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