Military Impact On Civil Lives In Numbers
- Category: War
- Hits: 1637
User Rating: 0 / 5
Today a small article was published by the Hong Kong newspaper South China Morning Post. The article was titled "Millions of Hong Kong fliers delayed by mainland military restrictions". The facts are simple:
- Hong Kong has a massive international airport located in the island of Chek Lap Kok (HKG as per IATA's denomination)
- The PLA (People's Liberation Army) decrees that all civil flights to and from HKG enter mainland space at…
Market Disrupting Technologies
- Category: Austrian Economics
- Hits: 2007
User Rating: 0 / 5
Once in a while a new technology appears which has the capacity to "disrupt" current market activities. It is a game changer and it is terrifying and wondrous. In terms of publishing the first giant step was pure self-electronic publishing. This destroyed (to a large degree) standard (i.e. paper-based) publishers. Why would you beg on your knees to be published if you can just submit your manuscript and be instantly…
The 1.5 Quadrillion USD Bet - What Can Possibly Go Wrong?
- Category: Austrian Economics
- Hits: 2006
User Rating: 0 / 5
Today we are going to look at yet another financial time-bomb (more like a so-called Financial Weapon Of Mass Destruction paraphrasing Bush's propaganda machine) that it is quietly ticking away; the Derivatives Market.
What are derivatives you ask? Simple, they are bets on price fluctuations of real assets. Bets require two parties, one making the bet and the other accepting the bet. In legal terms, they are contracts.
THE PROBLEM…
Lucy, Transcendence And Austrian Economics
- Category: Austrian Economics
- Hits: 1882
User Rating: 5 / 5
A few days back we went to see the new movie Lucy from Luc Besson. The premise of the movie is simple: what would happen if we could somehow access 100% of our brain capacity?
Before we delve into an analysis (our way - of course), let's clarify a few points. Yes, we liked it a lot (scifi is an acquired taste). Yes, we found it entertaining. No, it is…
The USD Is Heading Into The Intensive Care Unit
- Category: China
- Hits: 1856
User Rating: 5 / 5
We have mentioned in many previous posts that eventually the ultimate value of all fiat money is exactly zero. The operational word here being eventually. Up to this point, this was all futurecasting; playing with known truths and dusting crystal balls. This is no longer the case for the USD. China is making sure of it.
It is no secret that China has a deeply seated hatred for US, as most civilized…
Lies, Dammed Lies, Statistics And Central Bankers' Explanations
- Category: Inflation
- Hits: 27971
User Rating: 0 / 5
Standard economic theories have acknowledged that inflation is "always and everywhere a monetary phenomenon" (Milton Friedman). This is, the effect of Central Bankers printing money. Yet, every time there is a rise in inflation we have to put up with idiotic nonsense that is spewed-out from Central Bankers' press releases, conferences, opinions and otherwise meaningless explanations. It's always the same story. A little bit of inflation is OK, too little…
This Is The End
- Category: Taxes
- Hits: 2244
User Rating: 0 / 5
In 1985 the historian James Burke presented a magnificent television series produced for the BBC titled "The Day the Universe Changed". The central idea of the series was the notion that most scientific and technological advances are random and as such they depend of randomness and serendipity. Such advances are the culmination of highly improbable chains of events which cannot be directed. The series ended with a terrifying observation: as…
Leson #220 - Austrian Economics For Dummies - Praxeology
- Category: Austrian Economics
- Hits: 3740
User Rating: 0 / 5
Austrian Economics is based on a science called Praxeology. Its name is derived from the word "praxis" which is the process of making an idea real. As you may have guessed it, it simply means making something in practical terms; practical as in common-sensical and doable, practical as in cooking, gardening, buying or selling.
But if something is focused on practical (not theoretical) issues, it must be simple, easy to…
The Economic Rules Of Life
- Category: Austrian Economics
- Hits: 1654
User Rating: 5 / 5
As you know, dear reader, in this site we are Austrians, economically speaking. This means that most people do not understand us. One of the reasons for this misunderstanding is that Austrian economics is mostly written in the high language of economics by economists and for economists. This could not be otherwise since in any scientific endeavour it is necessary to be as accurate as possible. What this means in…
