The Pagan View - Henry Grady Weaver - Mises Daily

The Pagan View - Henry Grady Weaver - Mises Daily: 'From the pagan viewpoint, man is not self-controlling, not responsible for his own acts. The pagan universe is timeless, changeless, static. There is no such thing as progress. Any apparent change is merely a human illusion. Man is passive. His place is fixed. He has no freedom of will. His fate is decreed. If he tries to resist, his efforts will be futile.'

'most of the major ills of the world have been caused by well-meaning people who ignored the principle of individual freedom, except as applied to themselves, and who were obsessed with fanatical zeal to improve the lot of mankind-in-the-mass through some pet formula of their own. "It is at this point," she says, "that the humanitarian sets up the guillotine."'

Why Does President Obama Dislike Freedom of Conscience? | Doug Bandow | Cato Institute: Commentary

Why Does President Obama Dislike Freedom of Conscience? | Doug Bandow | Cato Institute: Commentary: 'Insurance is supposed to counter the risk of unlikely but potentially catastrophic events, such as having an accident or contracting cancer. Using birth control, a voluntary, routine and inexpensive decision, obviously is not such an occurrence. “Insuring” against something over which one has full control makes no sense.'

'Imagine if auto “insurance” covered routine maintenance and even gasoline fill-ups. Yet this perversion of “health insurance” already is far advanced, and has contributed to the dramatic rise in health care costs in recent years.'

'But what makes contraception, sterilization, and abortifacients more important than life-saving treatment for cancer and other deadly diseases, which receive less complete coverage? And contraception still will not be free, since women will be paying increased premiums—for something a number of them would not freely choose.'

'As government takes over ever more private responsibilities, it imposes the beliefs of those who have seized control of the state. In practice today that usually means a secularist and paternalist orientation.'

Will Currency Devaluation Fix the Eurozone? - Frank Shostak - Mises Daily

Will Currency Devaluation Fix the Eurozone? - Frank Shostak - Mises Daily: 'The so-called improved competitiveness resulting from currency depreciation in fact amounts to economic impoverishment. The "improved competitiveness" means that the citizens of a country are now getting fewer real imports for a given amount of real exports. While the country is getting rich in terms of foreign currency, it is getting poor in terms of real wealth — i.e., in terms of the goods and services required for maintaining people's lives and well-being.'

The Real Trouble with the Birth-Control Mandate | John H. Cochrane | Cato Institute: Commentary

The Real Trouble with the Birth-Control Mandate | John H. Cochrane | Cato Institute: Commentary: 'The pre-existing conditions crisis is largely a creature of tax law. You don’t lose your car insurance when you change jobs.'

The Limits of Monetary Policy Call for Moral, Sound Money | James A. Dorn | Cato Institute: Commentary

The Limits of Monetary Policy Call for Moral, Sound Money | James A. Dorn | Cato Institute: Commentary: 'After expanding its balance sheet from less than $1 trillion before 2008 to nearly $3 trillion today, the Fed has had little impact on the rate of unemployment but has greatly altered the allocation of credit and distorted the yield curve. It is ironic that while Congress criticizes China for manipulating its exchange rate, little is said about the Federal Reserve's manipulation of interest rates and asset prices.'

'Rather than engaging in pure monetary policy to ensure long-run price stability and prevent erratic changes in nominal GDP, the U.S. central bank has engaged in fiscal policy by allocating credit to favored groups and thus politicized monetary policy.'

'Pegging the federal funds rate close to zero for another three years and twisting the yield curve to lower longer-term rates will continue to misprice credit, penalize saving, and encourage risk.'

Highway Robbery by Republicans | Michael D. Tanner | Cato Institute: Commentary

Highway Robbery by Republicans | Michael D. Tanner | Cato Institute: Commentary: 'Anyone still wondering why there is a disconnect between grassroots limited-government conservatives and the Washington establishment need look no farther than the latest highway bill currently making its way through Congress with support from Republican leaders in both houses.

The Senate version, SB 1813, would cost $109 billion over two years. The House bill, HR 7, which runs to 847 pages of pork and special-interest projects, raises the price tag to $260 billion, but extends it over five years, making it a couple billion cheaper on a year-by-year basis.

In theory, of course, the highway bill is supposed to be paid for out of the Highway Trust Fund. But according to the Congressional Budget Office, the Trust Fund, which is funded by the federal gas tax, will collect only $187 billion over the next five years, meaning that the House bill spends $73 billion more than it takes in.'

Burma Comes in from the Cold | Doug Bandow | Cato Institute: Commentary

Burma Comes in from the Cold | Doug Bandow | Cato Institute: Commentary: 'The Burmese people need investment and trade more than official development assistance, which has a dismal record of promoting sustained economic growth. Private capital would better encourage broad-based development and job creation, so desperately needed by one of the world’s poorest nations. Trade and investment also would strengthen the Burmese private sector, not government (through which most official “assistance” flows), helping to disperse power in a system characterized for decades by the dangerous combination of political and economic power.'

Iran evades US sanctions by paying with gold - CSMonitor.com

Iran evades US sanctions by paying with gold - CSMonitor.com: 'The sanctions have drastically cut its ability to obtain euro and dollar denominated financing, forcing Tehran to find alternative ways to pay for its imports.'

The Fed's Quasi-Fiscal Policies - David Howden - Mises Daily

The Fed's Quasi-Fiscal Policies - David Howden - Mises Daily: 'The Fed is seemingly less directly concerned with maintaining output, and more with keeping banks afloat'

'as the Fed bought low-quality assets to strengthen the banking system's balance sheet, it has increased the base money supply by almost 2 trillion dollars (or 250 percent)'

'inflationary pressures will appear if the Fed realizes a loss on its assets (which it has not had to do, as they remain largely unsold)'

'The Fed currently has about $800 billion worth of mortgage-backed securities included in its assets. Add to that $100 billion of federal-agency debt securities, not all of which are guaranteed by the federal government. Include roughly $35 billion worth of AIG assets still on the books, and the Fed has a sizable holding of inarguably low-quality assets.'

Unions ask Democrats in Walker recall to make veto pledge - JSOnline

Unions ask Democrats in Walker recall to make veto pledge - JSOnline: 'Falk, the former Dane County executive, has committed to restoring collective bargaining in the next state budget and vetoing the budget if those provisions come out, while at least three other candidates including Milwaukee Mayor Tom Barrett said they wouldn't commit to any one strategy to accomplish that.'