Lesson #227 - Austrian Economics For Dummies - Ends And Means
- Category: Austrian Economics
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Praxeology assumes that when people are trying to achieve a goal they act on purpose to achieve such a goal. People do so because there are motivated to do so. The generic term that Praxeology uses for the term "motivation" is uneasiness or unsatisfaction. Therefore when people act to achieve a goal they are trying to get to a satisfactory or more comfortable state than the one in which they…
Currency Wars II
- Category: Currencies
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Nobody really knows who coined the term "Currency War" but it is most certainly appropriate considering what von Clausewitz said: "War is a continuation of politics by other means".
POLICY I
The original policy sought through currency wars was simply to export more (i.e. the "Mercantilist" economic theory). The idea was simple; the more you export the richer you become. The currency principle was also simple: the more you print…
QE Is Dead, Long Live QE
- Category: Central Banks
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QE stands for Quantitative Easing. It is yet another one of those obscure schemes that Central Banks have to pump cash into banks on the expectation that people will borrow and hence reactivate a dead economy (for an explanation see Deficits Debts And Inflation). The US Central Bank (Federal Reserve or Fed) has engaged in 3 cycles of QE since 2008 and some time ago it decided that 3 is…
How To Be A Better Drug Addict
- Category: Health
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OUR VIEW
We figure out that since we are going to be blamed for our ideas anyways (and everything in between) why not go all the way. Our point of view is quite simple: whatever one injects, eats, rubs, smokes, inhales, sniffs, permeates, sprays and/or uses in any possible way is none of anybody business but our own. Least than anybody the government (for a lengthier explanation of the topic…
Reshoring And Reverse Immigration
- Category: Free Market
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Many of our detractors keep insisting that we don't have a clue what we are talking about. However, as our predictions come true one after another, we can't wait for their spin. Today we are going to comment about two of them.
RESHORING
This is the process that companies who have off-shored their manufacturing operations undertake when they bring said operations back to their countries of origin. A few days ago…
Much Salary About Nothing
- Category: Spending Us Blind
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One of the largest mysteries of the universe and its surrounding areas (possibly all other parallel universes) is the exact amount of money that governments pay to their apparatchiks. We are not talking about individual salaries but as a percentage of the wealth that we produce and it is stolen from us. Bureaucracy is deadly because it inflicts the old "One-Two" punch:
1 - They produce nothing while consuming our…
WHO? - Part 5 of 5
- Category: Health Care
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IF NOT WHO THEN WHO?
And then we have the perennial issue of if WHO won't do it then who will? Well, this is most certainly a trick question. In our current (socialistic) political environment there is a great tendency for governments to take over everything. By so doing they are actually preventing wealth creation and in so doing reducing profitable business opportunities… which leads to poor people in terrible…
WHO? - Part 4 of 5
- Category: Health Care
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EXPENSES
Another item that is worth exploring is what all this money is spent on. We sincerely doubt that the WHO abides by the US military myth of the 20,000 dollars toilet and the 5,000 dollars hammer price tags. WHO's spending practices can be illuminating and luckily enough its financial reports shed some light. Let's take a peek.
Staff and personnel
As you can see, WHO's principal expenditure is, well, bureaucrats!…
WHO? - Part 3 of 5
- Category: Health Care
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WHAT DO YOU DO? - CONT'D
Change
"catalysing change"
To be honest, we don't have a clue how to respond to this one. It is so puzzling because we don't even understand what it means. So let's make our own interpretation. We say that this means that the WHO managed to get critically important projects underway through its presence; projects that would otherwise never happened. This is the very definition of…
