America’s Subprime-acy
John Subprime Smith, unemployed worker of Zzyzx, California (real city), in a quick glance assesses he’s qualified for his local bank’s exclusive mortgage terms. Five years after, in the summer of 2007, John realizes he can no longer pay his mortgage rates, bank catches on its lack of liquidity, and the Fed realizes its moral duty to provide liquidity… Ten years earlier, Joe ”the Overoptimistic” Doe also had a small credit from the same bank and placed it in Mirage.dot.com.Inc. stock. Highly over-valued, the stock was to go bust, shaking the bank and bringing in the Fed with liquidity. The bank was saved and was generously waiting for… Mr. Smith.
Sustainable (under)development…or how to warm ourselves without lighting a fire!
At over 40 Celsius, the human body goes haywire. At 40 in the soup, chez Alain Ducasse, Athenee Plaza in Paris, the bill goes above the minimum monthly wage in Romania. At 40 inside, sales in conditioned air and otitis cures, go up. At 40 outside, brewers take advantage of the drought-ruined farmers’ subsidy in spite of weather girls’ charms. All while the Government plans for less than 40.
Proletarians of all countries, enlighten!
Vlad Topan is unraveling a few gross Marxian miths that never seem to die.
Monetary Competition, Whereto?
Many observers of the financial markets fear that recent turbulences can lead to a crisis similar to the one in the 30's. Unfortunately, each crisis can lead to a growth of bureaucracy as well as to a correction in the good direction. Money competition could end in a global monopoly on money.The Intellectual Incoherence of Conservatism
Most self-proclaimed contemporary conservatives are concerned, as they should be, about the decay of families, divorce, illegitimacy, loss of authority, multiculturalism, social disintegration, sexual libertinism, and crime. All of these phenomena they regard as anomalies and deviations from the natural order, or what we might call normalcy. However, most contemporary conservatives (at least most of the spokesmen of the conservative establishment) either do not recognize that their goal of restoring normalcy requires the most drastic, even revolutionary, antistatist social changes, or (if they know about this) they are engaged in betraying conservatism's cultural agenda from inside in order to promote an entirely different agenda.
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