The American Vision: A Biblical Worldview Ministry

Category: Economic Edge

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The Fable of the Bees (Updated)

So, you want to understand what happened to the economy in 2008?  I have an answer.  It's a poem. Why a poem?  Because people can follow a poem, if it's not too poetic, better than they can follow detailed chains of economic reasoning. [wpsh]Poems can have great influence.  It is safe to say that the […]

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Digital Education vs. the Ruling Elite

Ruling elites as recently as 1600 appealed to God to justify their continuing rule.  This was called the divine right of kings: rulership beyond any earthly court of appeal.  That began to be undermined in the second half of the seventeenth century.  A century later, Enlightenment democratic theory had replaced the divine right of kings. […]

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A Two-Front War on Gold

Politics makes strange bedfellows.  In the person of Ben Bernanke, three streams of American politics have come together: Progressivism, Populism, and Populism's replacement, right-wing crackpot monetary theory. There is a third front: Chicago School economics, sometimes called monetarism.  It is anti-gold standard, but it is represented by Bernanke only by default, not in theory.  Chicago […]

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Codevilla's Not-Quite Manifesto

Every political movement needs a manifesto.  The Tea Party surely needs one.  So do other grassroots political resistance organizations.  They don't have it yet, but they now have its preliminary foundation, Angelo Codevilla's essay, "America's Ruling Class -- And the Perils of Revolution." I have long regarded Dr. Codevilla as America's smartest conservative political […]

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Crowding Out Our Future Wealth

The standard justification for the Federal government's trillion-dollar-plus deficits for the next decade is this: "Without this stimulus, the economy will fall into another Great Depression."  This is the Keynesian Party Line, all over the West.  It is promoted by almost everyone.  Even normally free market economists have gotten on board. Standing at the side […]

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Warnings from Two Respected Analysts

Two widely respected economic commentators, Harvard's Niall Ferguson and Nassim "black swan" Taleb, have offered highly pessimistic assessments of what lies ahead for the American economy. Information like this is widely ignored by investors in weeks when they have decided that nothing can stop them: they will get rich by investing in the American stock […]

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A Free Week-Long Economic Seminar

On Wednesday, July 28, at 11:30 a.m. central daylight time, I will lecture to about 250 college students at the Ludwig von Mises Institute in Auburn, Alabama. You can go to the Web and watch it for free.  Free is good.  I'll give you the link later in this report. Each summer, the Mises Institute […]

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Don't Send That Outraged Email

Blog it instead,  I'm going to show you how.  It's free.  It's fast.  It's the way to go.  Ask Matt Drudge. He didn't send an email to "Newsweek" deploring the spiking of an article.  He posted his report -- without objections -- on his blog in 1998.  This eventually got a President impeached.  His site […]

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Two Bad Investments; Stocks, Bonds

The public has been told that the way to wealth is investing.  The way to invest, Ph.D. economists tell the public, is to allocate your portfolio between stocks and bonds.  Which stocks?  An index of American stocks, preferably the S&P 500.  Buy a no-load fund.  Same with bonds: a mix of mid-term and long-term AAA-rated […]

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Black Swans and Bank Leverage

The black swan is the foo bird of modern Keynesianism. It is a threat only because of central bank fiat money and commercial bank leverage. In a recent report, "China: What Rhymes with 'Crash'?" I wrote this: China is not an accident waiting to happen. It is a government-engineered disaster waiting to happen.  It is […]

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The G20 Power Grab Continues

The G-8 meeting (Friday and Saturday) and the G-20 meeting (Saturday and Sunday) that were held in Canada provided the world's major political leaders a forum to promise the usual grab-bag of goodies that governments are clearly incapable of providing: (1) economic growth, meaning no double-dip recession; (2) austerity spending programs that are politically unsustainable; […]

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Is the Fed Too Big to Fail?

The mark of political sovereignty is legal immunity from failure.  For example, the government of the United States cannot be sued without its consent.  It is above the law.  It must consent to expose itself to the possibility of failure in a court. In school, we are taught about an ancient idea that is long […]

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