“Even though it might sound harsh and impolitic, here is the bottom line: if you don’t want to get shot, tased, pepper-sprayed, struck with a baton or thrown to the ground, just do what I tell you. Don’t argue with me, don’t call me names, don’t tell me that I can’t stop you, don’t say I’m a racist pig, don’t threaten that you’ll sue me and take away my badge. Don’t scream at me that you pay my salary, and don’t even think of aggressively walking towards me. Most field stops are complete in minutes. How difficult is it to cooperate for that long?”
LAPD officer Sunil Dutta, writing 100% seriously in a WaPo op-ed entitled (I kid you not) “I’m a cop. If you don’t want to get hurt, don’t challenge me.” (via hipsterlibertarian)
"Stop resisting!" A phrase exclusively said by rapists and police officers.
(Source: kohenari, via hipsterlibertarian)
12:55 pm • 19 August 2014 • 1,532 notes
“The means of defense against foreign danger, have been always the instruments of tyranny at home.”
— James Madison
10:14 pm • 18 August 2014 • 25 notes
“The minimum wage is actually zero. That’s what you earn when wage controls price your labor out of the market.”
— Antony Davies
3:34 pm • 16 August 2014 • 119 notes
“Deflation is the Federal Reserve’s worst nightmare for many reasons. Real gains from deflation cannot be easily taxed. If a school administrator earns $100,000 per year, prices are constant, and she receives a 5 percent raise, her real pretax standard of living has increased $5,000, but the government taxes the increase, leaving less for the individual. But if her earnings are held constant, and prices drop 5 percent, she has the same $5,000 increase in her standard of living, but the government cannot tax the gain because it comes in the form of lower prices rather than higher wages.
Deflation increases the real value of government debt, making it harder to repay. If deflation is not reversed, there will be an outright default on the national debt, rather than the less traumatic outcome of default-by-inflation. Deflation slows nominal GDP growth, while nominal debt rises every year due to budget deficits. This tends to increase the debt-to-GDP ratio, placing the United States on the same path as Greece and making a sovereign debt crisis more likely.
Deflation also increases the real value of private debt, creating a wave of defaults and bankruptcies. These losses then fall on the banks, causing a banking crisis. Since the primary mandate of the Federal Reserve is to prop up the banking system, deflation must be avoided because it induces bad debts that threaten bank solvency.”
— James Rickards, The Death of Money
I’ve always wondered why governments fear deflation so much. I always chocked up to propaganda wins in the quest for public opinion in favor of inflation. But really it’s just to prop up the debt financed economic system the government has constructed for us. Almost every action taken by monetary and fiscal policy central planners has been to perpetuate the debt driven, consumerist economy.
Deflation is good for the savers and ghastly for the debtors. Conversely, inflation is a saving grace for debtors and a slow cancer for savers. It all starts to make sense. You guys should read this book. I’m only into the introduction and I like it.
11:01 am • 16 August 2014 • 77 notes
“Danger comes from within and without. We have a misplaced confidence that central banks can save the day; in fact, they are ruining our markets. The value-at-risk models used by Wall Street and regulators to measure the dangers that derivatives pose are risible; they mask the over-leveraging, which is shamelessly transformed into grotesque compensation that is throwing our society out of balance. When the hidden costs come home to roost and taxpayers are once again stuck with the bill, the bankers will be comfortably ensconced inside their mansions and aboard their yachts. The titans will explain to credulous reporters and bought-off politicians that the new collapse was nothing they could have foreseen.”
— James Rickards, The Death of Money
10:01 am • 16 August 2014 • 17 notes
“They [cops] could do anything, literally anything, and there would be people who would rush to their defense. That happens because it’s a monopoly. People think they have to choose between having law enforcement or not. And well, if we have to have it, then yeah, sometimes people they overact or whatever. That’s just the cost of living in a society of laws. And no it’s not. That is the cost of living in a society with one group that has a monopoly on law enforcement.”
Robert P Murphy commenting on law enforcement and police misconduct
The Market For Security
2:30 pm • 15 August 2014 • 122 notes
“When law and morality contradict each other, the citizen has the cruel alternative of either losing his moral sense or losing his respect for the law.”
— Frédéric Bastiat
6:40 pm • 14 August 2014 • 1,371 notes
“If they changed the name to Fergustan, the Obama admin might intervene.”
— Jeremy Scahill
4:53 pm • 14 August 2014 • 71 notes
“Those who make peaceful revolution impossible will make violent revolution inevitable.”
— John F. Kennedy
3:02 pm • 14 August 2014 • 2,091 notes
“The general consensus here: if this is militarization, it’s the shittiest, least-trained, least professional military in the world, using weapons far beyond what they need, or what the military would use when doing crowd control.”
— Veterans on Ferguson
2:45 pm • 14 August 2014 • 127 notes
“[Mike Brown’s] friends and family now not only have to work through their grief, but against a posthumous slur campaign. Johnson described his friend in an MSNBC interview as cool and quiet. Brown’s uncle, Bernard Ewings, said in a Sunday interview that Brown loved music. Brown’s mother, Leslie McSpadden, said that he was funny and could make people laugh. He graduated from high school in the spring, and was headed to college to pursue a career in heating and cooling engineering. Monday would have been his first day.
By all accounts, Brown was One Of The Good Ones. But laying all this out, explaining all the ways in which he didn’t deserve to die like a dog in the street, is in itself disgraceful. Arguing whether Brown was a good kid or not is functionally arguing over whether he specifically deserved to die, a way of acknowledging that some black men ought to be executed.”
— Greg Howard, “America Is Not For Black People.” (via quickhits)
11:00 am • 14 August 2014 • 590 notes
“The ‘private sector’ of the economy is, in fact, the voluntary sector; and the ‘public sector’ is, in fact, the coercive sector.”
— Henry Hazlitt (via thewoodentrees)
8:58 pm • 12 August 2014 • 187 notes
“US policymakers fail to realize that the United States is not the global hegemon it was after World War II. They fail to understand that their overbearing actions toward other countries, even those considered friends, have severely eroded any good will that might previously have existed. And they fail to appreciate that more than 70 years of devaluing the dollar has put the rest of the world on edge. There is a reason the euro was created, a reason that China is moving to internationalize its currency, and a reason that other countries around the world seek to negotiate monetary and trade compacts. The rest of the world is tired of subsidizing the United States government’s enormous debts, and tired of producing and exporting trillions of dollars of goods to the US, only to receive increasingly worthless dollars in return.”
— Ron Paul - US Sanctions on Russia May Sink the Dollar
3:54 pm • 10 August 2014 • 42 notes
“We are headed into a perfect storm of policy failures. This is not simply a failure by the Fed, which has inflated this massive bubble and painted itself into a corner with no clue how to get out, but we are also seeing an absolute failure of American world dominance….
Our foreign policy is collapsing everywhere and yet the Washington war party keeps wanting to do more of the same. This confrontation with Putin is utterly out of hand and unnecessary. Now we have a trade war going that is going to ricochet through an already fragile European economy.
We hear today that Obama is considering going back into Iraq. What is he thinking? If you layer that on top of an already fragile financial bubble that is waiting to burst, I think we are in a zone of extreme danger. It’s hard to predict whether this will be the big, destructive bear market that inevitably has to come, or simply just another dip that encourages the robots and the trained seals on Wall Street to buy for another move higher. But one of these times we are going to have a big failure and I don’t think it’s too far down the road.
If you look at the stock market it has gone nearly straight up for the last 64 months. If you look at the chart of the S&P 500 you can see that year after year the dips get shallower and more infrequent and that is not a healthy chart. That is a sign of a market that is not discounting the actual real world future, but simply trading the word clouds and the liquidity that is being injected by not only our central bank, but central banks around the world.
The difficulty is that I don’t believe this central bank ‘act’ can be kept up. We have had such tremendous expansions of balance sheets that even the central bankers are now beginning to second guess themselves, become divided among themselves, and begin to worry about how they get out of the corner they have painted themselves into.
So those are the factors that will ultimately cause a major collapse. It’s just a question of when the black swan comes flying in, or when the confidence in this whole central banking illusion finally breaks down in the markets.”
David Stockman - "The Train Wreck Is Coming," David Stockman Warns, "All Hell Will Break Loose"
The greatest monetary experiment in the history of the world coupled with greater and greater geopolitical risks definitely is the perfect storm. We are about to see the failure of the nation state with its endless inflating and warring. What remains to be seen is whether the people as rightful sovereigns over their life, liberty and wealth will be able to pick up the pieces and not follow the same flawed path when it all comes crashing down.
11:43 am • 10 August 2014 • 30 notes