Category Archives: Capitalism

American Tech Giants Are Helping To Build China’s Surveillance State, by Tyler Durden

The tech giants have pretty much thrown any reservations they might have about helping totalitarian China build their surveillance capabilities. From Tyler Durden at zerohedge.com:

Google and IBM are leading an effort via the non-profit “OpenPOWER Foundation” that is supporting China’s authoritarian government in conducting mass surveillance against its citizens, The Intercept has revealed.

IBM under OpenPOWER sparked “innovation” in China’s technology industry, has been leading a collaborative effort with China’s Semptian Big Data Solutions and US semiconductor Xilinx to “advance a breed of microprocessors that enable computers to analyze vast amounts of data more efficiently.”

An industry insider emailed documents to The Intercept alleging that Semptian uses American microprocessors to “enhance the capabilities of internet surveillance and censorship technology it provides to human rights-abusing security agencies in China” that monitors more than 200 million Chinese internet users on a daily basis.

Continue reading→

Advertisements

Conservatives Against Liberty, by Ron Paul

Conservatives and liberals both advance statism, but if anything goes wrong, they blame libertarians. From Ron Paul at ronpaulinstitute.org:

Recently several prominent social and populist conservatives have attacked libertarianism. These conservatives, some of whom are allies in the fight against our hyper-interventionist foreign policy, blame libertarianism for a variety of social and economic ills. The conservative attack on libertarianism — like the attack on the freedom philosophy launched by leftists — is rooted in factual, economic, and philosophical errors.

Libertarianism’s right-wing critics claim libertarianism is the dominant ideology of the Republican establishment. This is an odd claim since the Republican leadership embraces anti-libertarian policies like endless wars, restrictions on civil liberties, government interference in our personal lives, and massive spending increases on welfare as well as warfare.

Anti-libertarian conservatives confuse libertarianism with the authoritarian “neoliberalism” embraced by both major parties. This confusion may be why these conservatives blame libertarians for the American middle class’s eroding standard of living. Conservatives are correct to be concerned about the economic challenges facing the average American, but they are mistaken to place the blame on the free market.

The American people are not suffering from an excess of free markets. They suffer from an excess of taxes, regulations, and, especially, fiat money. Therefore, populist conservatives should join libertarians in seeking to eliminate federal regulations, repeal the 16th Amendment, and restore a free-market monetary system.

Instead of fighting to end the welfare-regulatory system that benefits economic and political elites at the expense of average Americans, populist conservatives are promoting increased economic interventionism. For example, many populist conservatives support increased infrastructure spending and tariffs and other forms of protectionism.

Continue reading

A Nation of Free Men or Free Things, by Daniel Greenfield

One man’s government-provided free stuff is another man’s slavery. From Daniel Greenfield at sultanknish.blogspot.com:

The 2020 Democrat primaries are underway with candidate after candidate promising a nation, not of free people, but of free things.
Free college, free health care and free everything else. Even for illegal aliens.
Of course there’s a price to pay.
You get free health care by giving up the freedom to pick your own health care. You get free education, but the indoctrination is the price.
The Fourth to many is Fireworks Day. Every country has its fireworks days and this is the day that this one chooses to light up the night sky. The day means nothing to them because though they are surrounded by free things, they aren’t free.
The difference between freedom and free things has been progressively erased so that many think that the American Revolution was fought because the British weren’t providing affordable health coverage to the colonies. If only they knew about the NHS, they would vote to go back.
All that the Crown really wanted was for the colonists to pay their “fair share”, a share that was determined thousands of miles away. All that the colonists wanted was the rights of Englishmen that they believed they were entitled to. After a great deal of bloodshed, the colonists won the right to be Americans instead—an odd series of consonants and vowels having to do with an Italian explorer but meaning free and limited government.
There is a big difference between a free country and a country of free things. You can have one or the other, but you can’t have both. A free country isn’t obsessed with free riders, only a country of free things obsesses with making everyone pay their fair share for the benefit of the people who want the free things. The rugged individualism of Colonial America has given way to stifling crowds, co-dependent on each other, lined shoulder to shoulder, clutching at each other’s wallets, crying, “Take from him and give to me.”

Continue reading

The Bolsheviks aren’t coming. They’re already here. By Simon Black

The US has been drifting towards socialism for over a century. From Simon Black at sovereignman.com:

The average Westerner who hasn’t traveled very much believes Moscow to be a cold, bleak, desolate capital city that’s filled with Stalinist-era architecture and a population that lives in utter misery.

But the reality of this place is nearly the complete opposite.

Moscow is a bright, beautiful, cosmopolitan city. I’ve always found Moscow to feel more European than most European capitals, with gorgeous architecture that never seems to end.

Moscow is easily as nice as Paris, London, or Vienna… with a population larger than all three. I like it here more and more every time I visit.

It has some of the nicest restaurants in the world, beautiful parks and monuments, and a highly sophisticated, educated, cultured population.

The city is quite prosperous too. But it wasn’t always that way.

Moscow was once the capital of the Soviet Empire… the most infamous and failed experiment with Socialism in the history of the world.

Russia’s humiliating tale of Socialism grew out imperial discontent– a period starting in the 1500s when wealth was concentrated in the hands of the Tsar and his key lieutenants. Everyone else lived as peasants in abject poverty.

My friends and I toured a museum at the Kremlin over the weekend and saw endless artifacts from the days of the Empire– golden chalices, diamond-encrusted silverware, magnificent carriages.

Continue reading

Moral Capitalism, by John Stossel

The only thing wrong with capitalism is the lousy job its so-called defenders do of defending it. Readers are referred to Atlas Shrugged for a comprehensive and cogent defense and explication of its many virtues. From John Stossel at theburningplatform.com:

Moral Capitalism

Presidential candidates and the media keep telling people “it’s immoral” that a few rich people have so much more money than everyone else.

They talk as if it doesn’t matter what the rich did to get the money. Instead, the fact that they are rich is itself immoral.

Yaron Brook of the Ayn Rand Institute says this is lunacy. “They want to condemn the people that actually have moved civilization forward,” Brook complains. “People who improved the standard of living for everybody on the planet.”

Continue reading→

When Dead Companies Don’t Die – Welcome To The Fat, Slow World, by Ruchir Sharma

There’s a huge price to pay for not allowing the market to kill off companies that can’t compete. From Ruchir Sharma at nytimes.com via zerohedge.com:

he policies created to pull the world out of recession are still in place, but now they are strangling the global economy…

The United States’ recovery from the Great Recession recently turned 10 years old, matching the longest American expansion since records were first kept in the 1850s. The global recovery will also turn 10, in January, if it lasts that long — and that, too, would be a record.

But there have been few celebrations, in part because trade tensions have further slowed the pace of recovery. Since the end of the recession, the economy has grown at about 2 percent a year in the United States and 3 percent worldwide – both nearly a point below the average for postwar recoveries.

What explains the longest, weakest recovery on record? I blame the unintended consequences of huge government rescue programs, which have continued since the recession ended.

Before 2008, more open trade borders and better internet communications promoted strong growth by leveling the playing field, inspiring the Times columnist Thomas Friedman to declare that “the world is flat.”

Once the crisis hit, however, governments erected barriers to protect domestic companies. Central banks aggressively printed money to restore high growth. Instead, growth came back in a sluggish new form, as easy money propped up inefficient companies and gave big companies favorable access to cheap credit, encouraging them to grow even bigger.

If the world was flat and fast before 2008, today it’s fat and slow.

Continue reading

Doug Casey: The Deep State Is the Source of Our Economic Problems

Our government causes the major economic problems, and the Deep State runs the government. From Doug Casey at caseyresearch.com:

Justin’s note: As longtime readers know, Doug Casey says we’re well into what he calls the Greater Depression.

America is headed for trouble… and it’s critical to know exactly what’s going on.

That’s why today’s essay is so important. In it, Doug explains the source behind every negative thing that’s happening right now… and what’s really going on behind the scenes.

It’s one of the most educational and entertaining pieces you’ll read all year.


By Doug Casey, founder, Casey Research

I’d like to address some aspects of the Greater Depression in this essay.

I’m here to tell you that the inevitable became reality in 2008. We’ve had an interlude over the last few years financed by trillions of new currency units.

However, the economic clock on the wall is reading the same time as it was in 2007, and the Black Horsemen of your worst financial nightmares are about to again crash through the doors and end the party. And this time, they won’t be riding children’s ponies, but armored Percherons.

To refresh your memory, let me recount what a depression is.

The best general definition is: A period of time when most people’s standard of living drops significantly. By that definition, the Greater Depression started in 2008, although historians may someday say it began in 1971, when real wages started falling.

Continue reading