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Subjectivism is the philosophy that reality is what we perceive to be real and that no underlying, true reality exists independent of human perception. In other words, the nature of reality for an individual person is dependent on that individual's own consciousness. It follows that each person experiences...
Posted to
Hera
by
Ron Hera
on
Sun, Jul 1 2012
Filed under:
Filed under: Federal reserve, Euro, Alan Greenspan, U.S. dollar, gold standard, John Maynard Keynes, British pound, European Central Bank, Japanese yen, counterparty, Subjectivism. Objectivism, Aynd Rand, moral hazard, price stability, central banking, confidence, economic volatility, economic rent seeking, Bank of England, Bank of Japan, currency debasement, fiat money, Austrian economics, François-Marie Arouet de Voltaire
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Regulating Enterprise by Alex Merced Time and time again we hear in the news that we need stronger regulation on Oil, Housing, and Banking to prevent all the problems we've seen over the last few years. Today, I'd like to make the argument that the problems with all three of these sectors has...
Posted to
AlexMerced
by
Alex Merced
on
Wed, Jun 30 2010
Filed under:
Filed under: Subsidies, Moral Hazard, Risk, Taxes, Federal Reserve, SIPC, FDIC, Liability, Fannie, Oil, Central Banks, Unemployment, Freddie, Real Estate, Housing, Enterprise
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http://www.youtube.com/watch?v=uah6dF-lVGk Watch this video...
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Please note my preceding posts , about the establishment of global financial governance, which has astonishingly thin coverage given its importance and implications. Has everyone been distracted? Here is some background and discussion that may be useful, in chronological order: " G-20 Shapes New...
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Further to my prior post , I decided to take a whack at laying out the WSJ`s online report and describing some of its contents. The master page is here - is not outlined as clearly as the Asian print edition, which is in the following order, which I`ve linked to corresponding section of the online version...
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[Update: My follow-up post outlines the WSJ`s report and chief recommendations.] I thought I`d elevate what was a side and closing comment on Stephan Kinsella `s Avatar thread , about an appalling group of articles at the Wall Street Journal, which seems to have absolutely no clue about how the financial...
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I commented last week on a blog post by leftist Aussie economist John Quiggin , who blamed the financial collapse on investment banks, and suggested that either: (i) investment banking should be much more heavily regulated ("Properly done, regulation of this kind would kill off investment banking...
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I just ran across an interesting speech and related commentary provided last month at TED by behavioral economist Dan Ariely , professor at MIT and author of Predictably Irrational . Both the speech and the commentary are worth a look. Ariely's speech, billed as "Why we think it's OK to...
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A few items of interest have come to my attention regarding the TVA's massive spill last December 22 of wet coal fly-ash into a lovely river area near Kingston, TN (about 35 miles west of Knoxville, at the junction of the Emory and Clinch Rivers). The collapse of a retaining wall released over five...
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Finally, someone in the Fed is arguing that the Fed should stop printing money like crazy to bail out managers, owners and counterparties of failed banks. In a speech on Friday, March 6, Thomas Hoenig , President of the Kansas City Fed, argued strongly that " Too Big has Failed ", and that...
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[Update: Links fixed] Bloomberg reported on March 6 that Former Fed Chairman Paul Volker, in proposals to the Obama administration regarding financial regulatory reform that were included in a January report he wrote with the "Group of 30", commented that: the financial industry’s problems...
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The March 6 Financial Times has a great piece by Willem Vuiter , professor at the LSE and former chief economist of the EBRD, that completely rips the Fed`s bailout of AIG`s credit default swap counterparties, as emblembatic of the epidemic of moral hazard that has rotted out our financial system. Vuiter...
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In my previous post I spoke about the role of interest rates in balancing the supply of real savings (from depositors) and demand for those savings on the part of borrowers (investors): What's difficult to grasp here is that savings are not just abstract dollar notes. When I save, I am implicitly...