Saturday “More whites were brought as slaves to North Africa than blacks brought as slaves to the United States or to the 13 colonies from which it was formed. White slaves were still being bought and sold in the Ottoman Empire, decades after blacks were freed in the United States.” Thomas Sowell An estimated 1.3 million whites were kidnapped from coastal towns (as far … [Read more...]
How to Identify a Capitalist Economy
Friday There are three options with regard to a nation’s economy: 1 Capitalism, which leads to capital creation, 2 socialism, which leads to capital destruction, and 3 the ‘Third Way’, which impairs capital creation but, in moderation, does not put the process in reverse and destroy capital. Today, option 3, the Third Way, is the preferred model … [Read more...]
Real Estate and Tax
Sunday There are times when huge fortunes have been made in real estate. Family names have become legendary because of the prescience of a forebear in buying real estate at the right time. But that time is not now. As we approach the necessary denouement of the Great Fiat Fantasy, so governments will fight tooth and nail to hang on to the illusion that the debt-based … [Read more...]
Death by Money
Saturday “Civilizations die from suicide, not by murder” Arnold Toynbee Mr. Toynbee, a twentieth-century historian, got that right, but failed to correctly identify the defining characteristic of the suicide. Namely, Death by Money. First the money is degraded, then follows the degradation and subsequent collapse of society. That is what we are witnessing in the … [Read more...]