It’s corny, I know, but I make a habit of reading the Declaration of Independence every July 4th. Here it is below. I’ll be traveling all day today, so everyone have a safe and happy holiday.
IN CONGRESS, July 4, 1776
The unanimous Declaration of the thirteen united States of America,
When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation. (more…)
Financial markets do the one thing better than nearly any other form of protest or lauding of government policies. When the financial markets are falling that’s a tell-tale sign something somewhere is wrong. Same for the lifting, where the rise lifts all giving policy makers as well as the general public at large explicit feedback of what is, as well as, what’s not working.
Yet, once those indicators become an adulterated vehicle with the ability to mask true economic information, the underpinnings of that very same economy at some point will inevitably give for it allows more, and more burdensome tax policies, regulatory initiatives, along with a host of other parasitic fee structures that have the ability to thrive as they in turn kill business. (more…)
Regular readers have probably divined that I don’t have mountainous amounts of respect for authority figures. I tend to live on the right side of the law, so civil “servants’ have never done me any good. My relationship with the government consists mainly of giving them taxes in exchange for – - ostensibly – - living in society. (more…)
Many of you probably heard the news yesterday that teachers unions received a nasty (and well-deserved) blow from the Los Angeles Superior Court. I grew up in a fiercely anti-union household, and as a child, if I did a poor job making my bed, my mother would scowl and angrily say, “Union Worker!” I knew at that point I damned well better do the bed properly.
Mercifully, as a businessman, I never had to deal with any union issues. I did, however, at one point have to grapple with a salaried employee who, years into her employment, decided to get cute and threaten a state case to retrieve overtime wages based on the idea her job should have been an hourly one. She did not prevail. But it deepened my dislike for any prospective interference of the state into such matters. (more…)
Macro Shop ECB White Paper: (more…)
Well, my fellow Slope-a-Dopes, the time has finally come. The Idiot Savant has had more than enough. BDI has unequivocally decided to prick Big Bad Ben Bernanke’s Bloviated Bubble Butt. I have outlined below seven fine needles and six sharp scalpels that I shall use to slice and slay his sorry sagging ass: (more…)