Tax Evasion: Goooooaaaallll!

Ronaldo and Messi take elaborate steps to keep money they’ve earned away from the government of Spain. Bagus and his colleagues point out the benefits of their actions.  “Lacking a removal or reduction in tax levels, evasion will allow for an at least partial reinstatement of individuals’ rights of association, with resultant improvements in ethical considerations as well as economic efficiency.”

Merger Malinvestment

The primary problem is size itself. Ludwig von Mises explained that socialism doesn’t work because there was no market to determine prices and thus calculate how resources should be used. Behemoth companies are no more immune than government bureaucracies.  

Tariffs: Stealing Entrepreneurs' Profits

Consumers decide what they will pay and determine value.  Tariffs, the use of political force, determines where the buyer’s proceeds end up. Favored industries receive more and the entrepreneurs receive less, lowering their profits and making them less likely to take future risks in a similar political climate.   As a real estate developer, the President should know better.

Trumping to Serfdom

Hayek wrote that psychopaths, er politicians, have to “weld together a closely coherent body of supporters”...appealing “to a common human weakness. It seems to be easier for people to agree on a negative programme – on the hatred of an enemy, on the envy of the better off – than on any positive task.”


Socialist Chic

Rothbard’s reservation was, "There are increasing tendencies for the Panthers to abandon black nationalism almost completely for the Old Left virus of black-white Marxist working-class action." He wisely noted "an unfortunate eagerness to reach out and make alliances with white radicals,

Vegas's Greatest Week?

It used to be that the only stick men that mattered were at the city’s craps tables pushing dice and barking “new shooter coming out.”  A hockey puck was what Don Rickles called the dim witted. Now the town is cuckoo for hockey as the Golden Knights skate against Washington D.C.’s Capitals for the Stanley Cup.  

The Kingdom of Tom Wolfe

After Wolfe’s passing, I read his last, “The Kingdom of Speech,” a book that was reportedly “not well received by critics.” Many of his books weren’t “well received” yet sold well enough for him to live in a 12-room apartment in New York.  

Problem Canary in Bank Coal Mine?

The number of problem banks was only 92 at quarter end, the assets of problem banks more than tripled to more than $60 billion. That means two or three banks of considerable size are now considered “problem” banks.  The regulator doesn’t say which banks, so lines don’t form outside.

Think and Decide Like a Poker Player

Mr. Books the gunfighter was thinking the way poker players think: in bets. Former poker pro Annie Duke’s new book Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts, makes us think of our decision making not in a 50/50 way, or a zero percent--100 percent way, but account for those unknowns or as Books said, have “that third eye.”

Demand for Gold Coins Crashes

When the public was worried the end of the modern financial world was near, they were stocking up on gold, and presumably canned goods.  However, the last few years has proven the coast is clear: paper and computer generated “assets” will do just fine.

Running out of Dr. Copper

Leigh Goehring told Jim Grant copper is headed to $7 a pound, given how many electric vehicles will be built. EVs require three to four times the copper as traditional vehicles. He told Grant it will add 50 percent to the amount of copper demand.