“The flash mobs, coordinated as they are by social media, have created disturbing and disruptive bubbles and may continue to do so. Bitcoin is probably not in a bubble. Above all, let’s not forget the ominous longer-term debt bubble.” ~ Warren C. Gibson
“A more significant stash of dry tinder lurks in the Federal Reserve computers (hat tip: Cathie Wood). I refer to the reserves that commercial banks hold in their accounts at the Fed. At one time, they were required to hold balances equal to 10% of their demand deposit liabilities and were free to hold more—excess…
“Progress isn’t automatic, and worse, regress can happen. We must understand and promote Enlightenment ideas and practices: Reason, Science, Humanism and Progress.” ~ Warren C. Gibson
“A hands-off policy runs contrary to a politician’s every instinct. Every bone in their body tells them they must ‘do something’ to justify their votes and campaign contributions. They respond to the loudest voices, the fishermen in our example, and the deepest pockets. As always, the answer lies in improving our understanding of theory and…
“Sound bites may be good for political harangues but they are never enough for true understanding. Dissing profits is misleading if no distinction is made between consumer-driven competitive profits and crony-capitalist ones, or if losses are overlooked.” ~ Warren C. Gibson
“Whether you are a student or a senior citizen, be curious about the physics, engineering, and economics behind the everyday devices and systems that you depend on so heavily and take so much for granted. Of course, there isn’t time to research everything but with so many resources now available online, you can reward yourself…
“There is no acting entity called “the nation” to be served. The reality: what is called national service means doing the bidding of the particular politicians and bureaucrats who hold the reins, issue the orders and reap whatever sadistic satisfaction they gain from so doing.” ~ Warren Gibson
“Where are we now? Is Social Security going bankrupt? Not literally, since bankruptcy law does not apply to government agencies or programs. But it is unquestionably true that Social Security is headed for a fiscal calamity.” ~ Warren Gibson
“When the rules make it impossible for a bank to make sound and reasonable acquisitions of new assets because they are up against their capital limits, things can go badly awry.” ~ Warren Gibson
None of today’s prominent political figures is a thug on the scale of Rand’s Dr. Ferris, but the thugs are out there watching and waiting. Yet it’s not inevitable that the jaws will continue to tighten.