Useless Idiots

Stories about people who are useless to society.

Bryan Caplan’s Errors of Logic Regarding Austrian Business Cycle Theory

Caplan writes: What I deny is that the artificially stimulated investments have any tendency to become malinvestments. Supposedly, since the central bank’s inflation cannot continue indefinitely, it is eventually necessary to let interest rates rise back to the natural rate, which then reveals the underlying unprofitability of the artificially stimulated investments. The objection is simple:…

Milton Friedman Killed America

The Curse of the Withholding Tax Austrian economist, Murray Rothbard (1926–1995), in his 1971 article “Milton Friedman unraveled“: One of Friedman’s most disastrous deeds was the important role he proudly played, during World War II in the Treasury Department, in foisting upon the suffering American public the system of the withholding tax. Before World War II, when…

NASA Scientist Says Global Warming = Slavery, Must Be Stopped With a Global Tax

The Guardian reports: Averting the worst consequences of human-induced climate change is a “great moral issue” on a par with slavery, according to the leading NASA climate scientist Prof Jim Hansen. He argues that storing up expensive and destructive consequences for society in future is an “injustice of one generation to others”. Hansen, who will next Tuesday be awarded the…

Bernanke’s Gold Bashing Propaganda Tour

Article I wrote for PolicyMic: Ben Bernanke, chairman of the Federal Reserve , recently spoke at George Washington University while on a government sponsored campaign to help prop up the theory of central economic planning in the face of widespread public criticism. During his speech Bernanke took pot shots at free market money. Bernanke remarked that, “Since…

America’s Founders Were Pro-Big Government, But Only Because It Suited Their Interests

Recently, PolicyMic pundit Mathew Rozsa authored an article “Memo to Ron Paul and Glenn Beck: America’s Founders Were Not Anti-Government” in which he makes the case that many of the founding fathers wanted a progressive centralized national state. On this point, I agree with him 100%. However, Rozsa then goes on to claim that Federalists like Alexander Hamilton wanted…

Time: Quit the $100 Bill

toilet-papers

I have altered this Time Magazine article by replacing “North Korea” with “The Federal Reserve”, as well as some minor edits to maintain story continuity.  This is a unique satirical work protected by the fair use clause.  This work is public domain and may be reproduced without restrictions. David Wolman of Time Magazine writes: U.S. negotiators are…

DIE HIPPIES! – LOL Your Pants Off

A must watch episode for hippie hating connoisseurs. non-Hulu link: South Park Season 9 Episode 2 Normally at this point in the post I would throw in some poignant remark on State sponsored violence followed by some random comments on why Bitcoins are so cool. Which is why I’m not going to do that this time.