Category Archives: News/ Lessons

Dear Sirs: I read with delight Daniel Hannan’s review of Luuk van Middelar’s The Passage to Europe: How a Continent Became a Union.  However, I disagree with Mr. Hannan’s statement that “the EU is in the mess it’s in” because … Continue reading →

Re: New cuts not possible, Greek prime minister tells euro area official Here’s another example of why Europe will NOT resolve its debt crisis.  There is no enforcement mechanism that would require deficit countries to economize.  The Greek government is … Continue reading →

From today’s Open Europe news summary: In an interview with the FT, Finnish Prime Minister Jyrki Katainen refused to rule out supporting further eurozone bailouts if the situation was “hopeless” and insisted he remained “pragmatic” on the issue. FT So, … Continue reading →

The USDA budget for 2012 was $145 billion.  That’s $500 for every man, woman, and child in America. This is a quote from the Environmental Protection Agency’s website: “There are over 313,000,000 people living in the United  States. Of that … Continue reading →

UKIP’s Roger Helmer on costly “playground technologies“.  The German word for a costly but less efficient product is “ersatz”.  It’s primary use is during wartime, during which the nation is forced to use less suitable products.  Today politicians everywhere are … Continue reading →

We use the term “reserve currency” when referring to the common use of the dollar by other countries when settling their international trade accounts.  For example, if Canada buys goods from China, it may pay China in US dollars rather … Continue reading →

Arctic leaders talk in Russia about tapping riches without ruining environment http://rt.com/news/arctic-forum-russia-putin-315/ The nations of the world are right to discuss opening the Arctic to economic development without threats of national conflict. Austrian economic theory points the way.  Previously untapped … Continue reading →

Eurozone governments must give up more power to avoid another crisis, say IMF economists http://www.telegraph.co.uk/finance/financialcrisis/10333439/Eurozone-governments-must-give-up-more-power-to-avoid-another-crisis-say-IMF-economists.html The IMF–whose mandate for existence ceased when the US went off the gold standard in 1971…yet, like Dracula, it still walks the earth, sucking the … Continue reading →

Draghi wants permanent eurozone bailout fund ECB president Mario Draghi wants a 500 billion euro bank bailout fund, as if a one time bailout is all that is needed.  However, the core problem has not been addressed.  Fractional reserve banking … Continue reading →

I know, I know. I’m preaching to the choir – and it’s the same sermon taught every Sunday – but let’s talk about the recent announcement by the Federal Reserve. A lot of pieces of advice are given, but I … Continue reading →