On the morning of December 7th, 1941, the U.S. naval base at Pearl Harbor was attacked by Japanese fighter planes. The losses were severe. Over 2,500 people were killed and hundreds more were wounded. Eighteen American ships and nearly three hundred airplanes were destroyed or severely damaged. This devastating attack on America’s Pacific fleet is typically cited as the catalyst driving the United States into World War II. Lesser known is that the “date which will live in infamy” was the culmination of intentional and deliberate actions by President Franklin D. Roosevelt. The attack was neither unexpected nor unprovoked.
"As the year draws to an end, America faces yet another Congressionally-manufactured crisis which will likely end in yet another 11th hour compromise, resulting in more government growth touted as “saving” the economy…..Look for a “bipartisan” compromise in late December, with Republicans giving in to tax increases and settling for phony spending cuts that actually grow government, and Democrats caving on defense cuts in exchange for tax increases. This is how the government has always grown: both sides will sacrifice their pro-liberty, small government stances in certain areas in order to grow the government where they prefer. Liberty always loses in the 11th hour." Read More...
“Public austerity is a necessary condition for private flourishing and a rapid recovery. The problem of Europe (and the United States) is not too much but too little austerity — or its complete absence.”Read More...
"The real crisis is the ticking time bomb of entitlement programs and the welfare state.... So long as government spending grows faster than the private sector, it's just a matter of time before international investors pull the plug and stop buying our debt."Read More...
The debt ceiling has been raised, with varying degrees of fanfare, every time it has been hit. This renders the law completely meaningless. Now of course, under the pretense of fiscal responsibility, the President wants to do the most fiscally irresponsible thing imaginable – eliminate the ceiling entirely.Read More...
The History of the Dollar: The history of the US dollar is the subject of the greatest counterfeiting scheme the world has known. (12 mins)
The Gold Standard Explained: Jason discusses the "ins and outs" of the gold standard talks about the prospects for sound money. (25 mins)
Video of the Week
Debt Ceiling & the Fiscal Cliff President Obama wants to make it easier for our nation to go deeper into debt supposedly to convince bondholders that we are serious about paying our bills. Of course, we can only "pay"our bills if bondholders loan us the money to necessary to make the payments . In other words, we "pay" them back using their own money, going even deeper into debt in the process. How much longer can this Ponzi scheme continue now that we have alerted the victims to the nature of the scam? (Click to Watch)
Website of the Week
Marginal Revolution University (MRUniversity) is a new approach to online education led by professors Tyler Cowen and Alex Tabarrok of Marginal Revolution. The first course offered is Development Economics. Find out why why MRUniversity is different.
In "Whatever Happened to Penny Candy?" Richard Maybury uses historical events from Ancient Rome to explain economic principles. This clearly written book about economics is a remarkably easy and fun explanation of investment cycles, velocity, business cycles, recessions, inflation, the demand for money and more. Essential for every student, businessperson and investor. (Read More)
Meme of the Week
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