Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Category Archives: Free Market

CNBC says Larry Summers to replace Ben Bernanke at the Fed

Citing an unnamed source from “Team Obama”, CNBC announced that Larry Summers will be named head of the Federal Reserve by President Obama to replace outgoing chairman Ben Bernanke whose term expires on December 31st.

Despite much media conversation about other potential candidates for the position, chief among them Fed Vice Chairman Janet Yellen, Summers always had the inside track. Summers served as

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Monsanto Gets no Love

This article was first published at The McAlvany Intelligence Advisor on Friday, August 23rd, 2013:

On Wednesday, Insider Monkey, the service from Stocknomics that tracks insider trades and hedge fund activity, said that “the constant drama over GMOs (genetically modified organisms) seems to be hitting the newswires daily … [and] some hedge funds want nothing to do with Monsanto…. Monsanto Company (NYSE: MON) has experienced declining interest from the entirety of the hedge funds we track.” It added:

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The Delicious Irony of Obamacare – The Law of Unintended Consequences Kicks In

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, August 21st, 2013:

 

As Obamacare’s implementation draws ever closer, so does the law of unintended consequences. Promoted as a way to provide healthcare coverage for millions of presently uninsured individuals, the real impact is exactly the opposite:

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Another Obamacare Delay Admitted by the White House

On Monday the New York Times quoted an unnamed White House official that another piece of the labyrinthine healthcare law is going to have to be delayed until 2015, which will wind up costing vast numbers of citizens with severe illnesses potentially thousands, perhaps even hundreds of thousands, of dollars. This flies in the face of the promise that President Obama made back in September 2009 that Obamacare

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Is Bezos Buying at the Bottom?

This article first appeared at The McAlvany Intelligence Advisor on Friday, August 9th, 2013:

It was suggested here on Wednesday that Jeff Bezos and John Henry might have overpaid for their recent purchases of the Washington Post and the Boston Globe. Newspaper revenues have been declining for years, and more precipitously in recent years. The best minds in the business have been unable to halt that decline. Pay walls have offended readers who have the freedom to go elsewhere for their news. Package deals and bundling haven’t worked. The Drudge Report continues to gain ground at their expense and is now worth more (with just two or three employees) than

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Federal Court Rules that the Bitcoin is Money

When the Securities and Exchange Commission (SEC) charged that Trendon Shavers, the founder of Bitcoin Savings and Trust (BTCST) was running a Ponzi scheme, Shavers challenged the agency by claiming that bitcoins didn’t fall under their definition of securities and so therefore he and his company were exempt from SEC rules. Federal Judge Amos Mazzant ruled otherwise, which was bad news for Shavers but good news for

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George Mitchell, the Father of Fracking, Dead at 94

With his determination and the ability to ignore naysayers, George Mitchell, the owner of a Fortune 500 company, Mitchell Energy & Development Company, poured himself and $6 million of his company’s money into the task of finding ways to access the natural gas he knew was underground of his property north of Houston, Texas. It took him more than 10 years to find those ways. Since 2000, his discoveries have changed the world and are responsible for

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President’s Speeches on the Economy Draw Attention Away from His Scandals and Falling Poll Numbers

From the New York Times to Politico.com the president’s speech to students at Knox College in Galesburg, Illinois on Wednesday was headline news. More than an hour long, it contained enough platitudes, sound bites and falsehoods to keep pundits busy and away from more about the Benghazi, IRS, NSA surveillance scandals and Obamacare fallout which have caused the president’s poll numbers to plummet. It was time to get out of Dodge and take

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CFR expert calls for elimination of Laws restricting Crude Oil Exports

Sounding more like a free market economist than the thoroughly establishment analyst that he is, Blake Clayton, writing for the Council on Foreign Relations (CFR) in a paper published last week, built a carefully crafted case for the elimination of all federal controls on exporting crude oil. Clayton, who received two master’s degrees from the University of Chicago and Cambridge University along with a doctorate from Oxford, was blunt:

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The Myth of the Disappearing Middle Class in America is Finally Put to Rest

This was first published at The McAlvany Intelligence Advisor on Monday, July 15th, 2013:

 

Two favorite economists, Donald Boudreaux of George Mason University and Mark Perry of the University of Michigan, have contested and decried the dominant social theme that America’s middle class is disappearing. For instance, back in January their arguments reached the pages of the Wall Street Journal in which they stated flatly that

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Wal-Mart Shrugs: Pulls Plans to Build Stores in Washington, DC

Writing in the Washington Post on Tuesday, Wal-Mart’s regional general manager Alex Barron told Washington DC’s city council that if they voted to pass the Large Retailer Accountability Act (LRAA) his company would “not pursue [building] stores at Skyland, Capitol Gateway or New York Avenue” shopping centers and they would

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Paul Ryan the “bridgebuilder” on immigration reform?

On Saturday Newsmax.com reported on Rep. Paul Ryan’s (R-Wis.) continuing attempts to revive interest in the House to consider the immigration bill the Senate just passed. He thinks that with a little tweaking the House can come to terms that the Senate would approve, and all will be well once again:

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Welcome to Washington, DC: Pay $50 Fine, Have a Nice Day, Go Home

This article was first published at The McAlvany Intelligence Advisor on June 26th, 2013:

 

When Joe Carr, along with five of his baseball buddies from Eden Prairie, Minnesota, decided to fly to Washington to watch their Twins take on the Washington Nationals in June, he had no idea he’d leave the city with a criminal record and $50 poorer.

In a sarcastic jest he decided to write about his experience in a letter to the editor of the Washington Post, and they printed it. He explains what happened:

The Friday, June 7, night tilt between the Nationals and my Mighty Fighting Minnesota Twins was rained out by Tropical Storm Andrea. I was hosting five of my buddies on our annual baseball weekend, and, having lived in the D.C. area in the ’90s, I had booked the hotel, purchased the game tickets and planned the requisite Mall and monument tours. We were going to drop some serious cash (well, by Midwestern standards, anyway) into the local economy.

The rainout resulted in my possessing six tickets — worth $360 — to the second game of a Sunday doubleheader scheduled to be played when my friends and I would be somewhere over Chicago. However, as any baseball fan knows, there is always a market for club-level seats. So I proceeded to “market” the seats as I walked up to Nationals Park prior to Saturday’s 4:05 p.m. game.

Bad move.

Fast forward: after offering his tickets (he was willing to let them go for less than the $60 he had invested in each of them) to several people who turned him down, he was accosted by a uniformed member of the local constabulary, along with a trainee who was about to get a lesson in how to shake down a visitor. Here’s the conversation:

Officer: What are you asking? [Note: this is a solicitation.]

Carr: I’d love to get face value.

Officer: You’re under arrest for solicitation.

Trainee: You’re going to do this?

Officer:   Absolutely.

Carr:  You’ve got to be kidding.

Officer:  Does it look like I’m kidding? [Is this intimidation?]

The OIC (officer large and in charge) called for backup, put Carr into the back seat of the cruiser when it arrived, sans belt and shoes but wearing handcuffs, took him “downtown” for a mug shot, fingerprinting, and cool-off time in a jail cell for 2½ hours. The judge showed up, fined him $50, and let him go, leaving behind a criminal record.

As Mark Perry noted, Joe never actually sold his tickets. He ate the $360. There wasn’t even a transaction. There was no victim. He wasn’t charged with scalping either, just solicitation.

Carr described his experience into Washington’s welcome chamber of “downtown” as “Kafka-esque” where everything is upside down and inside out:

I broke a law. Guilty. But what purpose was served by my arrest? It didn’t make any financial sense. I am certain that the costs of my arrest, transport and processing had to be many multiples of the $50 I paid. Does the District have a massive budget surplus it needs to spend down?

What Carr ran into was the war on the free market, in a microscopic moment. Carr bought his tickets. He owned them. He paid for them. They were his property. Under free market principles he would be free to use them (or not), give them away, will them to his heirs, or sell them (at any price that a willing fully informed buyer would pay). But not in Washington, DC. Their definition of “solicitation” is different.

In the United States, there are three parts to the crime of solicitation:

  1. The encouraging, bribing, requesting or commanding a person
  2. To commit a substantive crime
  3. With the intent that the person solicited actually commit the crime.

You can see where this is going. Apparently, in Washington, DC, attending a baseball game with tickets purchased from another person is a “substantive crime.” Looking at the Washington National’s record to date, attending any of their games is a crime – of boredom.

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Sources:

Joe Carr: Welcome, baseball fan. Go directly to jail.

Definition of Kafka-esque

Definition of Scalping

Definition of Solicitation

Current Washington Nationals standings

Mark Perry: Great moments in government prosecution of innocent baseball fans for victimless crimes that didn’t even take place

 

 

Consumer Confidence Not Matched by Reality

The consumer confidence numbers announced on Tuesday by The Conference Board surprised even the economists who had expected a decline rather than the nearly 10-point increase that the board reported. The index came in at 81.4 compared to economists’ expectations of

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Staying private in a public world

The new rule is: once you express a thought, it’s public. So far, NSA isn’t able to monitor our thinking, but the moment we express ourselves, someone’s watching and taking notes.

So what is to be done? I’ve been waiting for someone to come up with some answers, and I’ve found him:

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Once Reviled, Capitalism is Making an Extraordinary Comeback Worldwide

This article originally appeared at McAlvany Intelligence Advisor

 

Hidden inside an obscure study just released by Barclays is a nugget of huge importance that reflects a sea change in the growth of entrepreneurial capitalism. The results of this development could equal if not exceed those of the

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Left Coast car buyers still like IC engines, shunning EVs despite Obama and his greenies

This is quite extraordinary: new car buyers in Los Angeles still like cars with internal combustion engines, despite efforts to move them into electrics. Galpin Ford in Los Angeles is having its summer sale: 10,000 new cars in the next three months. When asked how many of them will be electrics, Beau Boeckmann (whose family ownes the dealership) estimates about

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Unanimous Supreme Court Ruling on Human Genes is a Split Decision

On Thursday the Supreme Court ruled unanimously that patents on human genes are now void, while the successful creation of synthetic genes may continue to be patented. Both sides of the lawsuit celebrated victory. Mike Adams of Natural News exclaimed: “Sanity prevails: human genes are not eligible for patent protection!” while the ACLU declared: “Victory! Supreme Court Decides Our Genes Belong to Us!”

On the other hand, Myriad Genetics, Inc., the biotechnology company that holds dozens of patents on human genes, wrote:

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Could a Professional Wrestler be the next Senator from Tennessee?

This article first appeared at McAlvany Intelligence Advisor:

 

In gearing up for the 2014 Senate election in Tennessee, the Tennessee Alliance Tea Party & Liberty Groups announced in its newsletter last week that current Senator Lamar Alexander was ripe for extinction:

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Many Positives Coming from the Unfolding NSA Leaker Story

This article was first posted at  the McAlvany Intelligence Adviser:

 

Hardly a sentient soul on planet Earth doesn’t know who Edward Snowden is, but few of them know of the ramifications and positives that are already coming as a result of his leak about NSA spying on Americans’ emails, voicemails, and IMs.

Because of his top-secret clearance across a broad spectrum of surveillance programs developed by the National Security Agency and the Central Intelligence Agency, Snowden had a rare opportunity to view the threats to privacy these agencies and their enablers have created. So he decided to do something about it:

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.