This post was published at Mark Dice
This post was published at Mark Dice
‘When we get piled upon one another in large cities, as in
Europe, we shall become as corrupt as Europe.’
New York | When William Clay Ford Jr., Chairman of Ford Motor Co. (NYSE:F), fired CEO Mark Fields earlier this year, he in part confirmed the view expressed in our book ‘Ford Men: From Inspiration to Enterprise,’ that figuring out which supposed techno trend to believe (and invest in) will be a challenge.
After surviving the automotive equivalent of nuclear winter in 2008-2011, Ford and the rest of the auto industry rebounded nicely in terms of sales and profits, peaking last year at 18 million units sold in the US. But beyond next quarter’s financial results, every leader of every major global automaker is worried about one greatly glorified word: mobility.
‘If there’s one takeaway from Ford ditching Fields,’ concludes Wired magazine, ‘it’s that in our current transportation environment, ‘mobility’ isn’t so much a strategy as it is a euphemism for ‘we have no idea what’s happening next.”
Bill Ford recently told The Wall Street Journal that his company lacks vision, but he’s going to fix it – by bringing in yet another new Ford Man, Jim Hackett. We warned in ‘Ford Men’ that Fields was starting to sound like Jacques Nasser, a view that turned out to be prescient. But Bill Ford’s prattle about vision also sounds like some of his ill-considered comments about safety and the environment of a couple decades ago.
This post was published at Wall Street Examiner on August 11, 2017.
‘It is our true policy to steer clear of permanent alliance with any portion of the foreign world.’ That was George Washington’s Farewell Address to us.
The inaugural pledge of Thomas Jefferson was no less clear in stating, ‘Peace, commerce, and honest friendship with all nations-entangling alliances with none.’
So when Woodrow Wilson embarked the nation on the route of Empire in April 1917 and FDR launched the domestic interventionism of the New Deal in March 1933, the die was cast. It was only a matter of time before the disconnect between a robust Big Government and the structural infirmities of Madison’s republican contraption resulted in a deadly impasse.
The Fed has now backed itself into a corner and is out of dry powder. Even its Keynesian managers are determined to normalize and shrink a hideously bloated balance sheet. The current account has no basis in sustainable or sound finance.
The time of fiscal reckoning has come. With the financial sedative of monetization on hold, bond vigilantes will soon awaken from their 30-year slumber.
This post was published at Daily Reckoning
Patrick Buchanan is an informative and interesting writer. On foreign policy, especially, he’s long been one of the most reasonable voices among high-level American pundits.
When it comes to cultural matters, however, Buchanan has long held to a peculiar and empirically questionable version of American history in which the United States was once a mono-culture in which everyone was once happily united by “a common religion,” a “common language,” and a “common culture.”
Now, he’s at it again with his most recent column in which he correctly points out that the United States is culturally fractured, and speculates as to whether or not Thomas Jefferson’s call to “dissolve political bands” in the Declaration of Independence might be sound advice today.
This post was published at Ludwig von Mises Institute on July 7, 2017.
In the first line of the Declaration of Independence of July 4, 1776, Thomas Jefferson speaks of ‘one people.’ The Constitution, agreed upon by the Founding Fathers in Philadelphia in 1789, begins, ‘We the people…’
And who were these ‘people’?
In Federalist No. 2, John Jay writes of them as ‘one united people … descended from the same ancestors, speaking the same language, professing the same religion, attached to the same principles of government, very similar in their manners and customs…’
If such are the elements of nationhood and peoplehood, can we still speak of Americans as one nation and one people?
We no longer have the same ancestors. They are of every color and from every country. We do not speak one language, but rather English, Spanish and a host of others. We long ago ceased to profess the same religion. We are Evangelical Christians, mainstream Protestants, Catholics, Jews, Mormons, Muslims, Hindus and Buddhists, agnostics and atheists.
Federalist No. 2 celebrated our unity. Today’s elites proclaim that our diversity is our strength. But is this true or a tenet of trendy ideology?
This post was published at Zero Hedge on Jul 4, 2017.
21st Century Wire
The only conclusion any honest American citizen can come to is that the Republic is dead. Once again the flags wave and the songs play as the parades march to celebrate another 4th of July.
Picnic meals are eaten while children frolic in the warn sunshine of summer. Few people reflect on the true meaning that established the solemn commemoration of the nation’s birth. The reality of this post federation of independent state sovereignty is that a centralized federal behemoth has superseded the original intent of Thomas Jefferson’s vision: ‘That government is best which governs least’.
Today the society that exists demands compliance or compels obedience by way of punishment.
This post was published at 21st Century Wire on JULY 4, 2017.
“God who gave us life gave us liberty. Can the liberties of a nation be secure when we have removed a conviction that these liberties are the gift of God? Indeed I tremble for my country when I reflect that God is just, that His justice cannot sleep forever.”
Thomas Jefferson Memorial, Northeast Portico
‘A true opium of the people is the belief in nothingness after death, the huge solace, the huge comfort of thinking that for our betrayals, our greed, our cowardice, our murders, we are not going to be judged.’
“I urge you, brothers and sisters, to beware of those who cause arguments and put obstacles in your way with things that are contrary to the teachings you have learned. Keep away from them. For such people are not serving our Lord, but their own vain appetites and inclinations. By smooth talk and flattery they deceive the minds of naive people.”
Stocks set new highs, and gold and silver corrected a bit on a quiet Comex option expiration. The charts continue to exhibit interesting patterns and excesses.
The economic news of The Recovery meanders along its mediocre path, with a rise in long term unemployment and the sluggish growth in the broader economy driven by an exhausted middle class and staggering working poor.
This post was published at Jesses Crossroads Cafe on 25 MAY 2017.
The Super-Trend Puzzle
Washington DC: Debt Conduit
Growing Debt and Slowing GDP
How Much Government Do You Want?
You Can’t Cut Spending to Get a Balanced Budget
Incoherent Contradictory Dysfunctional Voters
Changing and Incentivizing the Corporate Tax System
Moving to a Consumption Tax Revenue Source
What True Tax Reform Could Look Like
New Jersey and New Launches
‘A tax loophole is something that benefits the other guy. If it benefits you, it is tax reform’
– Russell B. Long
‘Corporate tax reform is nice in theory but tough in practice.’
– Andrew Ross Sorkin
‘I hold it that a little rebellion, now and then, is a good thing, and as necessary in the political world as storms in the physical. Unsuccessful rebellions, indeed, generally establish the encroachments on the rights of the people, which have produced them. An observation of this truth should render honest republican governors so mild in their punishment of rebellions, as not to discourage them too much. It is a medicine necessary for the sound health of government.’
– Thomas Jefferson, in a letter to James Madison. January 30, 1787 (230 years ago)
‘You say you want a revolution
Well, you know we all want to change the world
You tell me that it’s evolution
Well, you know
We all want to change the world…
You say you got a real solution
Well, you know we’d all love to see the plan
You ask me for a contribution
Well you know we’re doing what we can.
But it’s gonna be all right!’
– John Lennon/Paul McCartney, the Beatles, 1968
This post was published at Mauldin Economics on MARCH 7, 2017.
Update: As Washinton Examiner’s Philip Wegmann reports, U. Va. President Teresa Sullivan acknowledged the protest against her quotation of Jefferson in a statement released Monday. She rejected the idea, however, that quotation is tantamount to endorsement of Jefferson’s shortcomings.
“In my message last week, I agreed with Mr. Jefferson’s words expressing the idea that U. Va. students would help to lead our republic,” Sullivan said in a statement posted on the university’s website. “He believed that 200 years ago, and I believe it today.”
The first female president of the university that Jefferson founded, Sullivan did something her faculty could not. She made a distinction between intrinsic principle and historical personality. Those perfect ideals transcend even the flawed third president.
“Today’s leaders are women and men, members of all racial and ethnic groups, members of the LGBTQ community, and adherents of all religious traditions,” Sullivan explained. “All of them belong at today’s U. Va., whose founder’s most influential and most quoted words were ‘all men are created equal.’”
This post was published at Zero Hedge on Nov 15, 2016.
Speaking at an annual voter summit in Washington, Kentucky’s Republican governor Matt Bevin effectively said ‘there will be blood’ if Hillary gets elected (via WAPO).
‘I do think it would be possible, but at what price? At what price? The roots of the tree of liberty are watered by what? The blood, of who? The tyrants to be sure, but who else. The patriots,’ Bevin said, referencing a quote from Thomas Jefferson. ‘Whose blood will be shed? It may be that of those in this room. It might be that of our children and grandchildren. I have nine children. It breaks my heart to think it might be their blood that is needed to redeem something, to reclaim something that we through our apathy and indifference have given away.’
This post was published at The Daily Sheeple on SEPTEMBER 14, 2016.
‘…legitimate powers of government reach actions only, & not opinions, I contemplate with sovereign reverence that act of the whole American people which declared that their legislature should ‘make no law respecting an establishment of religion, or prohibiting the free exercise thereof,’ thus building a wall of separation between Church & State. Adhering to this expression of the supreme will of the nation in behalf of the rights of conscience, I shall see with sincere satisfaction the progress of those sentiments which tend to restore to man all his natural rights, convinced he has no natural right in opposition to his social duties.’
‘ Thomas Jefferson, Letters of Thomas Jefferson
“In matters of style, swim with the current; in matters of principle, stand like a rock.”
Physical precious metals investing requires a tough skin, and an open mind willing to grasp a much bigger picture.
It also requires the painful admission that just as the past cannot be reincarnated – no one can predict a future that does not exist with certainty.
This post was published at Silver-Coin-Investor on Aug 20, 2016.
We Americans are not usually thought to be a submissive people, but of course we are. Why else would we allow our country to be destroyed? Why else would we be rewarding its destroyers? Why else would we all – by proxies we have given to greedy corporations and corrupt politicians – be participating in its destruction?
Most of us are still too sane to piss in our own cistern, but we allow others to do so and we reward them for it. We reward them so well, in fact, that those who piss in our cistern are wealthier than the rest of us. How do we submit? By not being radical enough. Or by not being thorough enough, which is the same thing.
Under pretence of governing they have divided their nations into two classes, wolves and sheep. I do not exaggerate. This is a true picture of Europe. Cherish therefore the spirit of our people, and keep alive their attention. Do not be too severe upon their errors, but reclaim them by enlightening them.
If once they become inattentive to the public affairs, you and I, and Congress, and Assemblies, judges and governors shall all become wolves. It seems to be the law of our general nature, in spite of individual exceptions; and experience declares that man is the only animal which devours his own kind, for I can apply no milder term to the governments of Europe, and to the general prey of the rich on the poor.
Thomas Jefferson, 16 January 1787
Special privileges and the use of the taxing power for private gain, these are the twin pillars upon which plutocracy rests. To take away these supports and to elevate the beneficiaries of special legislation to the path of honest effort is the purpose of our party.
This post was published at Jesses Crossroads Cafe on 24 JULY 2016.
The founding generation generally took a dim view of paper money. In a letter to Edward Carrington, Thomas Jefferson wrote, ‘Paper is poverty. It is only the ghost of money, and not money itself.’ Today, some investors are embracing the views of the Founders, recognizing the value of gold and silveras sound, stable money.
Investor and creator of Things that Make You Go Hmmm Grant Williams recently said he plans to buy gold regardless of what the Federal Reserve doesor how its daily mechanizations impact the price. In fact, during an interview at the Mauldin Strategic Investment Conference, Williams said he doesn’t really pay attention to the price of the yellow metal:
I think what the Fed does could have short-term impact, but I don’t buy gold around it. I don’t buy gold at $1,100 because I think it’s going to $1,200, I buy it for what it does, not what the price is, the price is the last consideration for me.’
So what is it that gold does? It retains its inherent value, unlike paper money, which depreciates over time as central bankers print more and more of it. In a nutshell, Federal Reserve paper does not count as stable money.
This post was published at Schiffgold on JULY 4, 2016.
In February 1768, a revolutionary article entitled ‘No taxation without representation’ was published London Magazine.
The article was a re-print of an impassioned speech made by Lord Camden arguing in parliament against Britain’s oppressive tax policies in the American colonies.
Britain had been milking the colonists like medieval serfs. And the idea of ‘no taxation without representation’ was revolutionary, of course, because it became a rallying cry for the American Revolution.
The idea was simple: colonists had no elected officials representing their interests in the British government, therefore they were being taxed without their consent.
To the colonists, this was tantamount to robbery.
Thomas Jefferson even included ‘imposing taxes without our consent’ on the long list of grievances claimed against Great Britain in the Declaration of Independence.
This post was published at Sovereign Man on June 16, 2016.
“That we are overdone with banking institutions which have banished the precious metals and substituted a more fluctuating and unsafe medium, that these have withdrawn capital from useful improvements and employments to nourish idleness, that the wars of the world have swollen our commerce beyond the wholesome limits of exchanging our own productions for our own wants, and that, for the emolument of a small proportion of our society who prefer these demoralizing pursuits to labors useful to the whole, the peace of the whole is endangered and all our present difficulties produced, are evils more easily to be deplored than remedied.”
Thomas Jefferson, 14 March 1810
And the remedy was not found for this corruption of the banking system cited by Jefferson until the coming of ‘Old Hickory,’ who although with Jefferson is sometimes reviled by the oligarchs and statists of today, nevertheless brought reform and relief to the general public, for whom they never broke their faith or betrayed their confidence, despite all the failings and shortcomings of their times.
The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.
This post was published at Jesses Crossroads Cafe on 16 MAY 2016.
On this day, 273 year ago, one of America’s most visionary founding fathers – Thomas Jefferson – was born. To celebrate his birthday, we are sharing a small sample of some of his most prophetic quotes which are perhaps more relevant today than they have ever been in the history of the United States.
On liberty – Thomas Jefferson letter to Isaac Tiffany, April 4, 1819
Rightful liberty is unobstructed action according to our will, within the limits drawn around us by the equal rights of others. I do not add ‘within the limits of the law’; because law is often but the tyrant’s will, and always so when it violates the right of an individual.
On banks as the biggest threat to liberty – Thomas Jefferson letter to John Taylor, May 28, 1816
If the American People ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers occupied. The issuing power of money should be taken from the bankers and restored to Congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money are more dangerous to liberty than standing armies.
This post was published at Zero Hedge on 04/13/2016.
If Congress has the right to issue paper money, it was given to them to be used by and not to be delegated to individuals or corporations. President Andrew Jackson.
The weapon of choice is money, and central bankers utilize this weapon merciless to rain misery on the unknowing masses by purposely creating boom and bust cycles. Since Fiat was created, bankers have fed off the misery they have wrecked on humanity. How do they feed off this misery? They no longer take from Peter and give to Paul; they make sure that Peter and Paul try to rob each other and everyone else tosurvive. They control the game, and you are just a pawn in this game. The only day the outcome will change, is when the masses stand up and revolt. However, we would not hold our breath for that day as the masses are notorious for their delayed reactions. Many great men, former presidents included are of the same opinion.
George Washington, one of the wisest of all presidents, understood this very well and it’s revealed clearly in this quote.
“But if in the pursuit of the means we should, unfortunately, stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them. Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.” – George Washington in a letter to Jabez Bowen, Rhode Island, Jan. 9, 1787
Another wise president was Thomas Jefferson, who was so against bankers that he thought they were worse than a thousand standing armies and he was correct.
“I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power should be taken away from the banks and restored to the people to whom it properly belongs.” Thomas Jefferson, U. S. President
“We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it.” Congressman Louis T. McFadden in 1932 (Rep. Pa)
“A great industrial nation is controlled by its system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world– no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men.” President Woodrow Wilson
“We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent moneysystem. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon.” Robert H. Hamphill, Atlanta Federal Reserve Bank
This post was published at GoldSeek on 31 March 2016.
Did you ever question ‘The majority rules?’
It’s the most famous example of what we can call for convenience, ‘The Collective Fallacy.’ With the help of it’s more subliminal offspring, this fallacy has twisted Western cultures into tormented shapes inimical to life and human nature.
In the case of ‘The majority rules,’ even the U. S. founders were aware of the dangers – – –
‘Mankind will in time discover that unbridled majorities are as tyrannical and cruel as unlimited despots.’ -U. S. ‘Founding Father’ John Adams
‘An elective despotism was not the government we fought for’ -Thomas Jefferson: Notes on Virginia Q. XIII, 1782. ME 2:163
A modern example: Imagine ‘we’ – that is all ~317 million Americans – went to Baskin & Robins (or Ben and Jerry’s) but collectively we – even the folks who didn’t vote – or even eat – all had to buy and pay for the winning flavor. Even when less than half voted for it.
Clearly ‘The majority rules’ is a meme we should avoid.
And such winner-take-all situations are only one of the most obvious problems created by The Collective Fallacy.
Strangely enough, ‘The majority rules’ is just an artifact of what might be called ‘lazy languages.’ And, there’s a cure.
The bed-rock foundation of The Majority Rules is the deceptively harmless word, ‘we’ – and the variant pronouns, ‘us’ and ‘our.’
The problem with ‘we’ and family?
This post was published at Lew Rockwell on January 16, 2016.