To stimulate our minds and uplift our spirits, let’s start with a riddle…
What does man cherish more than life;
Fear more than death or conflict in strife;
What the poor possess, the rich desire;
And what brings contentment to those who aspire;
What the miser hoards and the spendthrift saves,
And all humanity carries to their graves?
Hint: The answer is not a tangible item.
Indeed, the answer is “nothing.”
This riddle serves as a reminder that sometimes, nothing can carry great significance. Occasionally, individuals may find themselves acquiring something for nothing. However, it’s crucial to recognize that this is not a sustainable expectation for all.
Yet, many individuals still hold out hope for just that – obtaining something for nothing. Continue reading
“Democracy is a lamentable faith in the collective wisdom of individual ignorance.” – H.L. Mencken
Democratic Collectivism
Except for perhaps love and war – or a housing market bubble – nothing stirs the imagination quite like the allure of election-year populism. Today, many voters are caught in the delusion that they can achieve something for nothing through the ballot box. The consequences of this mindset allow the most unscrupulous individuals to return to office time and time again.
Concepts like independence, liberty, and freedom have dwindled into mere slogans. People may pretend to uphold these ideals, yet when faced with reality, they lean towards seeking bailouts, safety nets, and free services from the government. This misguided thinking led to the abandonment of the constraints and discipline inherent in a representative constitutional republic in favor of the deceptive allure of democratic collectivism.
“Where all think alike, no one thinks very much,” once stated the political commentator Walter Lippmann in the 20th century. Continue reading
“The Bank Was Saved, and the People Were Ruined”
By Jeff Thomas, International Man
This quote from William Gouge reflects on the Panic of 1819, a financial crisis precipitated when the First Bank of the United States drastically expanded the money supply through loans, only to retract it by tightening loan requirements, leading to a collapse.
This phrase succinctly captures the essence of crises that stem from reckless banking practices. Each occurrence is facilitated by the complicity of the governing authorities.
The origin of this troubling pattern traces back to Mayer Rothschild, an astute financier in the late 18th century, who offered financial incentives to German politicians in exchange for political backing for his banking activities. His approach involved providing consistent financial benefits to politicians without demanding immediate returns, enabling him to later solicit significant favors. Continue reading
A Journey Back to Aesop’s Tales
Today, time is limited. Instead of our typical economic analysis, let’s take a moment to revisit the stories from the sixth century BC that Aesop shared.
While it may seem unrelated, there could be valuable lessons to glean…
The Sick Lion, Aesop’s Fables
A Lion, too old and frail to hunt for his food, decided to resort to cunning. He returned to his den and pretended to be ill, making sure that news of his sickness spread. The other animals, feeling sympathy, visited him one by one, only to be devoured by the Lion. After several animals disappeared, the Fox sensed the deception and cautiously approached the Lion, remaining at a distance outside the cave. He inquired about the Lion’s health. “I’m doing well enough,” responded the Lion. “Why do you not come inside to speak with me?” To this, the Fox replied, “No, thank you.” Continue reading
