Incredible.

Good follow up to Max’s latest video. Author and financial columnist Justin Fox discusses the High Frequency Trading around the 28 minute mark. I think the question one has to answer is liquidity worth 200 million a day.

Tyler Durden of Zero Hedge. Alan Greenpsan lies through his teeth.

You will need to forward to get to her interview. I didn’t mark the start point but it is a ways in.

Chris goes down hard.

Nuts.

“Washington — U.S. Treasury Secretary Timothy Geithner asked Congress to increase the $12.1 trillion debt limit on Friday, saying it is “critically important” that they act in the next two months.”

Get ready for another big bank bailout. Will we see a bank holiday this fall? Max Keiser says 20-25% chance before the end of the year.

Hah!

“Cash for Clunkers has the following elements of spectacle:

• Americans destroying perfectly functional cars
• Americans whose skills are uncompetitive in the global marketplace driving around in fancy new cars

Somewhere in China and India they must be having a good laugh.” – Philip Greenspun

Link to Phil’s post.

Too good to not pass on.

“In a healthy Christian community there will always be differences between the people in them. But the differences were there before anyone talked about it. Talking about our differences, working through them, and not being afraid to say out loud what side of the line you land on is not uniquely Christian, but staying in fellowship while you do it is.”

Denninger reports on the Fed buying back treasuries sold just last week.

Probably not.

“Some commentators hold the view that the present economic crisis is the result of the Greenspan-chaired Fed’s extremely loose monetary policy between 2001 to June 2004. Yet for some strange reason the same commentators hold the view that Fed’s loose monetary policy since September 2007 has saved the economy from massive disaster. According to this way of thinking, at certain times pumping money is bad for the economy, while at other times it can be of great benefit. We find this logic extraordinary. Something that is bad cannot also be good. Printing money always undermines the bottom line of the economy. This is why it is always bad news.” – Frank Shostak

Link to complete article @ mises.org.

Amazing. You can see a larger image here.

Glenn Beck weighs in.

For the latest on GS add GoldmanSachs666.com to your reader.

There are a few Congressmen who are actually starting to get it.

• No surprise most of the references are found in the New Testament.
• One thing I noted is that there seem to be two uses of the word “grace”.
  • One is something we can get more of and even something we can give or show others.
  • The other is the saving grace/mercy we receive from Christ…”by grace you have been saved”.
• I don’t think the modern church does a very good job at distinguishing between these two uses. So if you are doing something that seems “ungraceful” according to the first meaning you are somehow seen as not understanding the second meaning.

Here are a few more passages for consideration, in line with Titus 2 I think, in which grace and obedience are tied together.

Romans 1:1-6 1 Paul, a servant of Christ Jesus, called to be an apostle, set apart for the gospel of God, 2 which he promised beforehand through his prophets in the holy Scriptures, 3 concerning his Son, who was descended from David according to the flesh 4 and was declared to be the Son of God in power according to the Spirit of holiness by his resurrection from the dead, Jesus Christ our Lord, 5 through whom we have received grace and apostleship to bring about the obedience of faith for the sake of his name among all the nations, 6 including you who are called to belong to Jesus Christ,

Romans 6:1-2 1 What shall we say then? Are we to continue in sin that grace may abound? 2 By no means! How can we who died to sin still live in it?

Romans 6:14 14 For sin will have no dominion over you, since you are not under law but under grace.

“The camera is the new gun.”

John Whitehead answers the question with a story from Butte Montana.

Ron Smith from Farm Press.

“Back in November I exercised one of my most important rights as a citizen of the United States of America. I voted.

Recently, I exercised another of my most important rights as an American citizen. I paid my taxes.“

Mr. Smith, what would have happen if you refused to “exercise” your right to pay taxes? My guess is you would be “forced” to exercise your right. How can something be a right if you don’t have a choice in the matter?

If you love liberty and freedom this one is a must watch. John C. Whitehead from Rutherford Institute discusses current and future surveillance trends as well as some new expanded govt. powers coming down the pike.

I just finished R.C. Sproul Jr.’ s book Believing God – 12 Biblical Promises Christians Struggle to Accept. Wonderful book, it exposed a number of chinks in my armor. Looking forward to sharing what I learned with my family and believing God more and more.

I am working my way through Hilaire Belloc’s “The Servile State”. I just read John Medaille’s article “The Economics of Distributism Part 1: Does Capitalism Work?” (Front Porch Republic) which makes reference to the book. Here is a short quote from the article that is well worth thinking about.

“In Keynesian states, people cease to be citizens and become mere clients of the state, where even their most ordinary needs are the subject of one or more governmental bureaucracies, and where even ordinary local problems are pushed up to be the responsibility of the most distant levels of government. But as successful as Keynesianism has been at rescuing capitalism from itself, one wonders if this cycle can continue. Each new business cycle seems to require greater intervention than the last, and this latest crises requires gargantuan efforts. Can this exercise in gigantism continue forever?”

A quote from Belloc’s book (taken from Jan. 1947 edition of American Affairs, downloadable at mises.org).

“how much more easily do you not think the ‘Practical Man’ will be conducted towards that same Servile State, like any donkey to his grazing ground? To those dull and short-sighted eyes the immediate solution which even the beginnings of the Servile State propose are what a declivity is to a piece of brainless matter. The piece of brainless matter rolls down the declivity, and the Practical Man lollops from Capitalism to the Servile State with the same inevitable ease. . . .

He knows nothing of a society in which free men were once owners, nor of the cooperative and instinctive institutions for the protection of ownership which such a society spontaneously breeds. He ‘takes the world as he finds it’—and the consequence is that whereas men of greater capacity may admit with different degrees of reluctance the general principles of the Servile State, he, the Practical Man, positively gloats on every new detail in the building up of that form of society. And the destruction of freedom by inches (though he does not see it to be the destruction of freedom) is the one panacea so obvious that he marvels at the doctrinaires who resist or suspect the process.”

Obvious but worth watching. Whitehead puts together some good stuff, I would think the number of views would be higher for his YouTube channel.

Technorati Tags: Government, Free Speech, Rutherford Institute, Fascism

“How do you make God laugh? Show him your life plan.”

This was the largest credit boom in history, and it will be the largest bust, no matter what the “stimulus”.

Souce: Mike Shedlock