China Plunge Protectors Unleash Berserk Buying Spree In Last Hour Of Trading As Fed Meeting Begins

Call them whatever you want but today’s stock markets aren’t really markets. Markets are supposed to go up and down. Gains and losses. Winners and losers. Markets are not supposed to be governed by governments for the monied classes. But that’s where we are at now.

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Why the world belongs to the (software) coders

This is a piece on my wall which was inspired by coding and coders. Data 1

I’ll say from the outset that this article is not for everyone, (and it is LONG) but I found it intriguing and potentially very useful for people who are trying to get their heads around what the economy – what I would consider the REAL economy – is doing right now.

And on a personal note I have to give a nod to my dear old Dad who,

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How People Outpace Politicians

(From FEE)

Maybe there was a time when the political culture seemed to keep up with the pace of innovation. If so, those times are long gone. The rhetoric of electoral politics is exposing the great rift in civic life.

The tools we use every day, the technologies we love, the way we engage each other, the means by which our lives are improving are a consequences of innovation, markets, community, and globalization — that is,

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Market Manipulation Goes Global (Are you prepared for a hubris driven downdraft?)

It hasn’t GONE global. Its long been global and on a massive scale. But China is freaking people out.

Play this game if you want. But understand that it is a game which is run by cronies, for cronies, and that cronies are very fallible. Can you handle the kind of downdraft which may come when reality catches up with the hubris of central bankers?

It’s an important question, and one which should be asked when things (in the USA) are still relatively calm.

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Memo to China: Your Market Moves Are Doomed to Fail

From a Chinese market

When an economy is built upon dishonesty, and dishonest prices most importantly, an economy’s reckoning is only a matter of time. The further the charade goes on, the worse the reckoning. China’s been going on for a long time.

Now the Chinese government is trying to save its market with more central planning and knob turning. And don’t forget about the guns it has too.

But ultimately the system will erode. It isn’t built on real prices.

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McDonald’s & The Minimum Wage (Video)

As we’ve said before, raise the minimum wage above what the real wage should be for an unskilled worker and one is just creating havoc in the economy. Margins are closed or erased. Stores close. Prices go up. Jobs are lost. And the tax base is often diminished. (Creating a heavier burden on the remaining businesses.)

It is true that one can not live on the minimum wage. But no skill or low skill jobs are stepping stones to higher wages.

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California’s ‘Drought’ Has a Monetary Metaphor

Water policy in California is bizarre. I had no idea how bizarre until Jerry Brown declared his water emergency last week.

With 39 million people living in a semi-arid to desert environment (at least the southern 2/3 of California) doesn’t it stand to reason that at some point water might become a critical issue? A really critical issue? Doesn’t it also stand to reason that the people of California should be priority number 1 when it comes to water,

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India and its huge economic potential

India has long been mired in socialism. Bureaucracy ran and continues to run through the country’s massive system of governance. As I understand it, to get anything done in India for many years the paperwork had to be done in triplicate and processed a half dozen times. And then one got a new pile of paperwork.

But times are changing. India has opened up quite a bit over the last 2 decades, and it looks like even more light will be shining into the economy soon.

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Why recessions ended relatively quickly before the government tried to manage the economy (Video)

Murray N. Rothbard explains in 3 minutes why it is that when economic downturns happen the government should just get out of the way. Let prices correct, the pain will be short and sharp but then life will go on, typically in a more prosperous manner.

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