BankNotes – January 2017

In April of 1987 a newspaper ad ran in the Wall Street Journal with the following almost unbelievable bold headlines: “All Life Insurance Lets You Provide For Your Children—Ours Lets You Buy Toys Of Your Own.” This ad was so ostentatious in its message that it became Exhibit-A in a Senate Hearing before the Subcommittee on Taxation and Debt Management on March 25th, 1988.

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BankNotes – December 2016

There’s a principle in hypnotism that goes like this: A person cannot be hypnotized against his will. He must be a willing subject. He must be fully cooperative.
So it goes with propaganda. For propaganda to be effective, it requires submissive subjects.

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BankNotes – November 2016

One of the most widely accepted propositions among political economists is the following: Every monopoly is bad from the viewpoint of consumers. Monopoly is understood in its classical sense to be an exclusive privilege granted to a single producer of a commodity or service, i.e., as the absence of free entry into a particular line of production.

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BankNotes – October 2016

Critics of liberalism and the market economy have made a long-standing habit of inventing terms we would never use to describe ourselves. The most common of these is “neo-liberal” or “neo-liberalism,” which appears to mean whatever the critics wish it to mean to describe ideas they don’t like.

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BankNotes – September 2016

The Republican and Democrat Party Conventions are now behind us. But through all the cheers and jeers, hoopla and poopla, warnings of a dark and dangerous future or promises of a bright and beautiful shape-of-things-to-come, one of the most serious shadows hanging over America was hardly mentioned at all: the unsustainability of the “entitlement” programs of the welfare state.

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BankNotes – August 2016

“Sweetheart, I think you’re making a terrible decision. However, I am not going to stop you.”

“Yay!”

That’s from a not-too-long-ago escapade with my daughter, who was about to spend her money on what I honestly thought was dumb. Why, if she was making a mistake, didn’t I stop her?

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BankNotes – July 2016

In a video making the rounds in social media last week, conservative author Mark Dice performs a series of man-on-the-street interviews to show how most Americans have no idea what Independence Day commemorates. The punch line comes at the end when Dice finds a young woman who can quote the document that he apparently thinks we commemorate on Independence Day.

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BankNotes – June 2016

Young America is suffering a quarter-life crisis. The job market is in the dumps and has been for as long as millennials can remember. Twenty-somethings are anxious about the direction of the country. The more politically aware among their generation are on pins and needles about the looming presidential election.

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BankNotes – May 2016

Every year around tax time, we’re reminded of the pain of the income tax. We’re reminded not just of the wealth that is taken, but also of all the time and energy that must be expended helping the federal government estimate just how much they should take from us this year.

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