Economics in One Lesson is a great primer in learning economics.  It is easy to read and written in a way that is not heady or difficult to understand like most books on the subject of Economics.  You will enjoy learning economics with this book.

Enjoy the free ebook or order it in hard copy.  And as always let me know what you think.  I’d love to hear your comments.

As far as grassroots activism goes, the surge in Tea Parties across America is one of the more encouraging developments to recently take place. It reminds me of the “Conservative Revolution” of 1994, when the GOP reclaimed both the US Senate and House of Representatives. At that time, it had been over 40 years since the Republican Party controlled both the US House and Senate. And, between the two, the House victories were the most significant.

Spurred mostly by the election of Bill Clinton in 1992, a host of young, energetic freshman Republicans marched into Washington, D.C., determined to return a burgeoning and out-of-control federal leviathan to the constitutional precepts of limited government. I’m talking about then-freshman House members such as Helen Chenoweth, Steve Largent, Bob Barr, Joe Scarborough, Sonny Bono, John Shadegg, J.C. Watts, etc. These young conservatives went to Washington, D.C., determined to reduce the growth and size of the federal government.

The vehicle used to transport these young conservatives from grassroots activism to US House and Senate seats was the highly touted “Contract with America” (CWA), which was orchestrated by House Speaker-to-be, Newt Gingrich. The CWA included a promise to the American people that if they would give the GOP a majority in Congress, they would eliminate up to 5 federal departments–such as the Departments of Energy and Education–and many federal agencies.

Obviously, not only did the GOP-controlled Congress not eliminate a single federal department or agency–or even shrink the size of the federal government at all–it expanded the size and scope of the federal government at every level. And there is one reason for it: Big Government neocons posing as champions of conservatism co-opted and destroyed the Conservative Revolution of 1994.

If one wants to put names to these treasonous wretches (and I do), I’m talking about charlatans such as Newt Gingrich and Trent Lott. Anyone who thinks that Newt Gingrich is a real conservative or that he will do anything to reduce the size and scope of the federal government needs to speak with any of those Republican members of the freshman class of 1994. (Sadly, too, some of the members of that great freshman class went on to become Big Government toadies themselves. Such is the power of that Putrid Province by the Potomac.)

The Tea Parties of 2010 remind me very much of the Conservative Revolution of 1994. And if the Tea Party Nation is not very careful, they will succumb to the same fate. The signs of a silent takeover of the movement are already appearing.

First of all, the Tea Parties were actually born during the Presidential campaign of Congressman Ron Paul of Texas in 2007 and 2008. For all intents and purposes, the Tea Parties and the Ron Paul Revolution were one and the same. These were (mostly) young people, who were sick and tired of the same old establishment Republican Party. They were tired of establishment Republicans selling out the principles of limited government; they were tired of the US Constitution being ignored and trampled by both Republicans and Democrats; they were tired of an incessant interventionist US foreign policy that keeps sending US forces overseas to advance a burgeoning New World Order (NWO); they were tired of perpetual war; they were tired of the bank bailouts; they were tired of the Federal Reserve; etc.

I know this because I met–and spoke before–the Tea Party Nation in State after State as I campaigned for Dr. Paul during the Republican primaries back in 2008. And I met them again all over America, as I was running as an Independent candidate for President–with Ron Paul’s endorsement, no less. I was with them in scores of meetings (big and small) from Washington, D.C., to Spokane, Washington, and all points in between.

But now many of the Tea Parties are distancing themselves from Dr. Paul and embracing establishment players such as Sarah Palin and Glenn Beck. Even Newt Gingrich is being courted. Watch out, Tea Party Nation: you’re in danger of losing your soul! Newt Gingrich is not one of you. He is not your friend. He is an imposter. He will destroy you just like he almost single-handedly destroyed the Conservative Revolution of 1994.

Plus, be careful about Sarah Palin and other establishment Republicans. Palin is currently playing both sides. She is promoting Big Government neocons such as John McCain on the one hand, and sincere conservative-libertarians such as Rand Paul on the other hand. But if one wants a real barometer of Palin’s true colors, look no further than her endorsement of Rick Perry in Texas.

Continue Reading

Real GDP increased at an annual rate of 5.7% in Q4 after rising by 2.2% in Q3 — the quickest pace in more than six years. This was above Wall Street economists’ forecast for a 4.6% increase in Q4. The yearly rate of growth of real GDP climbed to 0.1% in Q4 from −2.6% in Q3. The yearly rate of growth of GDP at current prices, i.e., nominal GDP increased by 0.8% in Q4 from −2.1% in the prior quarter.

The bounce in the growth momentum of both real and nominal GDP is due to the Fed’s massive money expansion. However, a sharp fall in the growth momentum of real AMS[1] poses a threat to the growth momentum of GDP in quarters ahead.

Most economists, including the White House chief economist Christina Romer, hailed the Q4 GDP data as “the most positive news to date on the economy.”

But economic growth presented in terms of GDP just describes monetary expenditure. GDP is designed along the line of Keynesian thinking, which holds that spending equates with income — hence more spending leads to a higher national income and in turn to higher economic growth. On this logic, a tighter monetary stance by the Fed leads to slower economic growth while increases in monetary pumping produce higher economic growth. (In the GDP framework, money expansion leads to an increase in overall income in the economy, and hence to a higher rate of growth of GDP).

In reality the exact opposite actually takes place — printing more money weakens wealth generators’ ability to grow the economy whilst a decline in the money supply’s rate of growth strengthens their ability to grow the economy.

Once the central bank raises the pace of money expansion in order to lift the economy out of a recession, it prevents the demise of various false activities. It also gives rise to new false activities. The outcome of such so-called economic growth is nothing more than the strengthening of wealth consumers and renewed pressure on wealth generators. All this undermines the process of wealth generation and weakens true economic growth.

Continue Reading

President Barack Obama has signed a one-year extension of several provisions in the nation’s main counterterrorism law, the Patriot Act.

The visual stops at December 2010 with 9.3%, but the current unemployment rate has reached 10.6%.

Enjoy the visual.

So is an olympic Gold metal made out of gold?  It turns out yes: but it is not solid gold.

Check out this article by Jake Towne about the Olympic Gold Medals for more information.