After the earthquake, Haiti suffered something even more devastating than an earthquake, something even more devastating than a genetically low IQ population, something far more brutal and destructive than rule by genetically low IQ overlords.
Worse than cholera, worse than the earthquake, Haiti suffered a devastating influx of aid agencies and high IQ Harvard graduates with billions of dollars of aid money. (more…)
While inflation has been running at an annualised rate of 3.6% over the past three months, higher than the Fed’s target 2%, said Brett Hammond, senior economist at TIAA-CREF, “in order to get the economy moving again, a little inflation isn’t a bad thing”.
If Keynesianism is true, you are not supposed to have rising inflation and unemployment at the same time. It is only moderate stagflation, but it is rising, and shows every sign that it will go on rising.
In a boring and unusually uncharismatic speech, Obama explains that America’s credit rating downgrade is not his fault, and it is not his job to fix it.
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The police shot Mark Duggan in London, as they beat up Rodney King in Los Angeles. Likely Mark Duggan needed killing, and it was instant justice, or possibly not. There is disagreement over who fired first.
Real violence, not astroturf mock violence, ensued. There have been three days of rioting, looting, and racist assaults by blacks on whites over much of England, and the riots continue.
Moldbug points out that universalist regimes such as the US government and its satellites, suppress dissent too, though by means less drastic and obvious than communist regimes, and that universalist regimes had disturbingly cozy relationships with communist regimes, were full of fellow travellers until there was no one left to travel with. He proposes, therefore, to call them all communist.
But, (more…)
Vladimir, Moldbug, and Foseti discuss the prehistory of the left, also known as the United States Government. Prehistory ends, and history starts, in the 1950s, because history before then got rewritten beyond recognition.
The burn rate is a eight percent of GDP. Total debt is one hundred percent of GDP.
How many new drugs, Dr. Lajos Pusztai asks, were approved for breast cancer treatment in the past decade? His answer: seven. None was much different from drugs already on the market.
Once again, the economic news is “unexpected” bad. Official inflation is supposedly 3.2% annualized while real GDP is supposedly 1.3% annualized. I suspect actual inflation is higher, which would mean that actual growth was correspondingly lower, but even if we take these figures at face value, they still do not support the Keynesian account of the crisis.
US politicians are engaged in passionate debate and confrontation over the debt limit and spending. The question is whether to “cut” two trillion over the next ten years, which is to say, about two hundred billion dollars a year, which is to say, whether, after ten years, spending will be five or six trillion dollars a year more than it is now, or whether it will be five or six trillion dollars a year more than it is now, assuming that the US government still exists in ten years.