New article from Bruce Ackermann of Yale University in LA Times. Call for increased enforcement of the Reid Amendment.
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Daily Archives: May 15, 2012
Remaining a dual citizen (2): we hold these truths
For all of us, the seed of our anger and determination to fight back, each in our own way, is the sense of betrayal by the very country that we once thought was the source and embodiment of the values we hold dear, of the truths we hold as self-evident. We are angry because we carry those values within us, no matter where we live. So you see, those values, those truths are not dead. They live in us. Continue reading
From the Soldiers’ Tower at the University of Toronto
To the glorious memory
Of members of this university
Who fell in the Great War
1914-1918
Take these men for your ensamples
Like them remember that prosperity can be only for the free
That freedom is the sure possession of those alone
Who have the courage to defend it
The United States taxes foreigners via deficit spending
This is a cross post from the Righteous Investor.
Americans keep repeating the meme that Federal deficit spending is borrowing from the next generation. This is not entirely true. Deficit spending creates more debt, and debt creates a larger money supply, and a larger money supply is the quintessential definition of inflation. Inflation soon results in increased prices for everything.
Henry Hazlett wrote in his important primer, Economics in one lesson (pdf), p. 19-20 (emphasis mine):
Everything we get, outside of the free gifts of nature, must in some way be paid for. The world is full of socalled economists who in turn are full of schemes for getting something for nothing. They tell us that the government can spend and spend without taxing at all; that it can continue to pile up debt without ever paying it off, because “we owe it to ourselves/’ We shall return to such extraordinary doctrines at a later point. Here I am afraid that we shall have to be dogmatic, and point out that such pleasant dreams in the past have always been shattered by national insolvency or a runaway inflation. Here we shall have to say simply that all government expenditures must eventually be paid out of the proceeds of taxation; that to put off the evil day merely increases the problem, and that inflation itself is merely a form, and a particularly vicious form, of taxation.
Swiss Constitutional Initiative on Popular Ratification of Treaties
There will be a live debate tonight on Radio Télévision Suisse (formerly TSR) concerning a constitutional amendment that will be voted on by the people this coming 17 June, requiring a popular vote to approve international treaties.
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