In the minds of many people around the world, including in the United States, the term “capitalism” carries the idea of unfairness, exploitation, undeserved privilege and power, and immoral profit making. What is often difficult to get people to understand is that this misplaced conception of “capitalism” has nothing to do with real free markets […]
When you type a website address into a browser, you might have noticed that the letters “http” appear at the front. “HTTP” stands for Hypertext Transfer Protocol. In typing a Web address, you are actually sending an HTTP command to transmit that website to you. Hypertext Transfer Protocol is the means by which information is […]
Some people are saying it is just what the doctor ordered. Others are saying that the cure is worse than the disease.The Affordable Care Act? Reengagement in Iraq? Tea Party bullying in the GOP?Not this time. Just as protracted in the corridors of Congress and the White House is the debate over the proposed reform […]
In 2012, money mandarins running the European Union chose stagnation over restructuring. Here’s a consequence of that choice: expectations for a self-sustaining economic recovery keep getting crushed.Two years ago, European Central Bank (ECB) chief Mario Draghi promised to do “whatever it takes” to hold the eurozone together. He bluffed nervous investors into believing in a […]
Picture the scene. It’s 2020. You’re at the checkout in a convenience store with a carton of milk. But you’ve got no cash and you’ve left your cards at home. No problem. You scan your right index finger; the green light flashes. Purchase approved and you leave. Easy.Is this a realistic vision of the future, […]
“In the beginning, all the world was America.” — John Locke“The Garden of Eden was a perfect place,” my friend Manuel explained. “Man had free will. He could live in harmony with nature and God — and everything would be fine. But if he defied God, the stain of original sin would be on his […]
After a week of reckoning about the American oil and gas boom… I’ve got to get something off my chest.I can’t stand it when a coworker takes credit for something I did.Whether it’s a special report I wrote or just a little investing trick I found on my own — if someone takes it and […]
It might sound like the latest new product from Apple, but IPAB is actually the newest major legal challenge to Obamacare.Recently, a three-judge panel in the 9th Circuit Court of Appeals in San Francisco heard arguments about the Independent Payment Advisory Board, or IPAB, a 15-member panel created by the Affordable Care Act and empowered […]
Americans have come to believe that the IRS and the income tax are inevitable parts of our lives. After all, most everyone alive today has lived his entire life under federal income taxation.It wasn’t always that way. For some 125 years, the American people lived without having any tax imposed upon their income.The obvious question […]
Here’s a fun fact: Although we all hate the U.S. dollar, as it continues to hemorrhage wealth, its foothold as the world’s reserve currency isn’t going to disappear overnight.A Russian gas deal with China won’t change that — as we’ll highlight below.But before we get to the nitty-gritty, let’s dive into a story that’s right […]
Franklin Delano Roosevelt famously used the term “forgotten man” in a 1932 speech to describe those at the bottom of the economic pyramid who, he felt, government should aid.But the originator of the phrase “forgotten man” had a whole different meaning in mind. He aimed to expose the seeming good intentions of government to reveal […]
“As the nation’s central bank, the Federal Reserve derives its authority from the Congress of the United States. It is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding […]
The Keynesian disaster recovery plan has been to lower rates, force people to take more risk in search of yield, and entice others to borrow and spend and, magically, more jobs will be created. If people won’t buy stocks, central banks will.Back in 2011, Ben Bernanke, when asked if QE2 was driving up stock prices, […]
In September 2009, when President Obama made a primetime speech pitching his not-yet-passed health care overhaul, he made the following promise: “I will not sign a plan that adds one dime to our deficits — either now or in the future. Period.” To prove his seriousness, he further promised that “there will be a provision […]
Whatever your views on the role of government, one thing is clear: There will be no way to pay for it if the economy doesn’t grow. And I’m not talking by a measly percentage point or two. If we can’t find our way back to 5% annual economic growth or above soon, America’s accumulated federal […]
According to the Bureau of Labor Statistics, consumer prices are rising at a 2.1% annual rate. This suggests to us that the current stock market boom will die with a bang, rather than a whimper.Fed economists say they don’t think inflation rates are rising. They think the most recent reading is a fluke. But why […]
Real progress happens through real people, ideas, and innovations. Not by legislation argued and debated in Congress. Right now, one of the most influential technologies is changing the way people do business. And reinventing the future in the process.
Innovation can change the world… if the world lets it. Unfortunately, society’s gatekeepers make it a point to constrain, regulate, and control these ideas. But their power is limited, and the power of innovation is too great. Unfortunately for regulators, there are some technologies they can’t control.
“Everything is proceeding as I have foreseen.” — Emperor Palpatine, The Return of the JediJon Stewart made great comedic hay during the Bush Administration out of the enormity of Dick Cheney’s “Sith Lord” malevolence. Events in Iraq in the past week have made especially palpable Cheney’s Palpatine-like quality.As Iraq unravels, you may suspect that Cheney might now […]
Entrepreneurs are high-tailing it out of the United States, and it’s the politicians’ faultThe U.S. government is driving some of its most productive citizens abroad. The only beneficiaries are countries such as Singapore and Switzerland, which offer sanctuary to Americans fleeing avaricious Uncle Sam.Three years ago Eduardo Saverin, one of Facebook’s founders, joined 1,780 other […]
Politicians love raising the minimum wage because they don’t have to ask voters to pay more in taxes. They just dump the costs onto shop owners. But they don’t act like politicians and go into debt to pretend like they have all the money in the world. They face real world situations. And sometimes that means replacing workers with more affordable options...
A cushy job in Hawaii that pays six figures. A beautiful girlfriend/boyfriend. Job security and professional experience that gives you plenty of future opportunities. Would you throw that all away to do what you think is right? Last year, one government contractor did just that. And now you see the world the government tried to hide from you.
As the world gets more digital, people forget about the benefits of transacting in cash. And government officials know that.
Regulation is supposed to keep you safe and make the economy function smoothly. At least that’s what they tell you in the news. But there’s another cost to regulation. One that you won’t hear about unless you have to deal with directly. And for the people in the economy who do, they’re the ones who have to pay the final cost.
The experts will tell you the recession is over, but they’re only torturing the data to hide the truth. The economy never recovered from the downturn it experienced. But the downturn happened in 2000, not 2008. The country’s been in the middle of a 14 year recession and hardly anyone knows the truth.
All paper currency has a shelf life. It could be 5 years or 500 years, but at some point, the value of any paper currency eventually reaches zero. That's why, for centuries, people have turned to one shiny metal to safeguard their personal store of wealth. And, as Jim Rickards explains, you still have that option. Read on...
Edward Snowden’s one year visa in Russia expires at the end of next month. With only a few weeks left before he finds himself without a safe country to live in, he sat down to give an exclusive interview. Here are the most important things he wants you to remember from his recent sacrifice.
Twitter began by calling it “libertarian porn” — the longest and most sustained attack on leviathan from the Senate floor in modern history. But then it became more. And more. It went on for 13 hours. It was about halfway through when the junior senator leaned over to an aide and whispered: “Can I get a candy bar?”
He deserved it. Before the end of the night, the significance of what he was doing was being described as “epic.” What began as a surprise political move became a bipartisan cry against all the evils of our times, which somehow all come down to the egregious power of the executive state and its omnipotent power over our lives and property. It became political theater unlike any we’ve seen in many years. The target: all terrible things.
In short, it was a beautiful day on Capitol Hill.
It all came courtesy of Sen. Rand Paul, the man who has brought truth, excitement, fun, and the appearance of real-life morality back to the Senate.
We aren’t used to this. What normal person pays attention to politics, much less to the Senate? Here was something that actually happened — for once. Something important. Something even… epic.
This is a story about one man who decided to say, “Enough.” It’s a so-called “talking filibuster,” a last-ditch effort that stops legislative action completely. Something undertaken only in an epic case, a time when there is a hinge of history. Is this that hinge?
Alice in Wonderland? Nicely played, Senator.
“Stand with Rand” and send a clear message to your senator by clicking here.
Sen. Rand’s action began just before noon. He started by standing alone against the nomination of John Brennan for the head of the CIA. This Brennan guy is the top advocate of the drone program and the White House’s super-creepy claim of the right to kill American citizens on American soil using unmanned aircraft.
The White House that wants him appointed refuses to rule out killing you and me if dear leader thinks it is necessary. The policy as fact has been in place for a long time, but this administration wants it formalized.
Are civil liberties at stake? It’s a no-brainer. Well, why is there any controversy about this at all? How much despotism can the American people stand? How did we come to this point? How long will the politicians in Washington pretend like this isn’t happening?
There is an elephant in the living room. That elephant has been nominated to head an agency that has been up to no good since its inception after World War II. An agency that operates in secrecy and embodies everything that is wrong with the whole institution of government. And now some guy who favors the right to kill you and me on a whim has been tagged to head the agency.
Something’s gotta give.
Sen. Paul seemed to break the taboo. He finally said it: This winner of the Nobel Peace Prize is asserting the right to kill citizens right here, without any recourse to courts or law or anything related to the dead letter called the Constitution. His appointee is ready to do the deed.
In his first hours, Sen. Paul said:
“When I asked the president, can you kill an American on American soil, it should have been an easy answer. It’s an easy question. It should have been a resounding and unequivocal, ‘No.’ The president’s response? He hasn’t killed anyone yet. We’re supposed to be comforted by that.”
Again, his one question: Why won’t the president say that he won’t kill noncombatants with drones on American soil? The White House pretended none of this was happening.
Just before noon yesterday, Rand Paul stood alone. Then others joined him. Still others. Rand talked and talked. He went on and on. The online crowd began to grow. And grow. The tweets grew and grew. Facebook went nuts. It went on all day. The Senate chamber filled up by the evening. The fracas became frenzy and then became a mania. Hashtag #StandWithRand became the Internet meme of the night.
Here is how the global Twitter map looked a few hours before the filibuster ended, with #StandWithRand as the top hashtag used around the world (the larger the hashtag, reflects a larger number of tweets emanating from that area.)
Everyone else is talking about what this means for the senator’s political career. I have high respect for him, but truly, this is not the point. It is not about who is up and who is down. It is about the power of the government over the individual. It’s been growing egregiously for a century. It’s become absurd to the point that the “peace president” claims the right to kill us. When do we say no?
Sen. Paul spoke for the multitudes. And he continued. And continued. It was brilliant. It stopped only once biological needs called.
It’s pathetic that it had to come to this to see some meaningful protest. Still. It’s thrilling that this protest has finally come. That The Wall Street Journal and The New York Times heaped disdain on the Senator confirms that he was on the right track.
I have my own theory about the meaning of all of this. I think it is about the digital revolution finally reaching the most impenetrable apparatus on the planet. Sen. Paul was the instrument, but the tune is made of technology.
I must invoke the memory of the prophet of our age Aaron Swartz. He is dead due to horrible hounding by the government. But before he died, he was working on a new software package that was extremely powerful. It offers a way to apply digital media to the cause of politics. He showed the power of his model with the 2012 attack on SOPA. Pretty much working alone, he defeated this cursed legislation that would have disabled the Internet.
Like most people, I long ago lost faith in the political process. It is a waste of time. It is a game for suckers and fools. The government owns the system, and it will always be so, no matter who is ostensibly in charge.
Yet… I respect Swartz. He might have been on to something. He posited that there is power when the people can swarm the state apparatus with digital communications: emails, petitions, tweets, memes, digital protests. This is different from regular politics. It is turning the machine upside-down and inside out, bypassing the lobbying, rallies, voting, and electing entirely in favor of direct confrontation between the ruled and the rulers.
Remember that government is the most paranoid institution on the planet. It is extremely jumpy for that reason. You know how the petty thief is always watching his back, worried that he is going to get caught? Government is like that. It is always and everywhere engaged in criminal activity. It mainly worries about being found out. It fears discovery. Digital media permit every American to say, “You have been found out!”
Is that what’s going on? It has made a difference in this case. The drone issue, which has been a big one for Laissez Faire — our petition against Brennan and his drone policies gathered 10,000 signatures — has been one that has sent a powerful signal to the power elite.
Sen. Paul is a great political entrepreneur. He stepped out in front — alone at first, but with the whole body behind him eventually, and today a large whole of the people too.
Government should fear the people. Today, at least some sectors of the government are a bit more afraid than they used to be. My friends, that’s victory. It is not about who will gain power next. It is about dismantling power completely, one step at a time.
“Can I get a candy bar?”
Someday, that candy will be freedom itself. It’s coming. It’s going to happen — with or without our political leaders.
P.S. To all people who are sending me evidence of Rand Paul’s various heresies, you can save your bandwidth. I’m not interested in saint making or witch burning. I’m only interested in one thing: progressive reductions of the role of all government power in people’s lives all the way to zero if possible. Whatever brings that about, in whatever sector it happens, and whether it happens slowly by steps or all in one fell swoop, I’m for it. I really don’t care who or what makes a contribution to this end or how it comes about, so long as it is ethical and it actually achieves the aim of human liberation, the mother of all progress, order, and higher civilization.