Beylernomics

The Simple Test

2010-04-12T11:55:00.000-07:00

Okay, now that we've explored morality and the need for free agency, how can we decipher the balance of morality, free agency and the role of government? We know that first, we must uphold our own personal values if we expect to live in a society with any kind of value system. Morality must take root as individuals, by our own choice. So where does government fit in? In our constitution, we learn that government should be the defender of life, liberty and the pursuit of happiness. In other words, that is what we as privileged citizens of such a country should be defenders of. Yet with all of the decisions that we are accountable to participate in as a citizen, it is difficult to sift through the information and what our actions should be. I was directed to this video/recording by a friend, and found it extremely enlightening in how to judge my duties. In the recording, we are given a simple test to determine the appropriateness of all of our votes, voices, and debates. It is beautiful, it is simple, it is true. You will see the sensibility in it:

“Do I, as an individual, have a right to use force upon my neighbor to accomplish this goal? If I do, then I may delegate that power to my government to exercise it in my behalf. If I do not have that right, I cannot delegate it.”

-Ezra Taft Benson

I encourage you to listen to the following recording in full. It is so applicable to current events, and wonderfully enlightening.

Religious Freedom

2010-03-23T21:20:00.000-07:00

Now to get to the meat of morality and religious freedom and how to defend it:

http://newsroom.lds.org/ldsnewsroom/eng/news-releases-stories/religious-freedom

Moral Obligations

2010-03-23T16:41:00.000-07:00

Clarifying what our moral obligations are and how to accomplish them can sometimes be daunting. We are inundated with conflicting definitions of what is bad and what is good. In general, people are religious, at least moral. We want to be good. Our hearts are generous. We want to help the poor and those without opportunity, but how we help matters. We are endowed with unalienable rights-- life, liberty and the pursuit of happiness. Those are very individual rights. They give us opportunity to act for ourselves as long as we don't infringe on another's unalienable rights. We cannot wrong one person to right someone else. We cannot force a good deed. In fact, I would argue that force not only infringes on the unalienable right of liberty but also upon the pursuit of happiness for both those who are forced to give and those who are forced to receive. My experience is that both good will and self sufficiency bring great happiness. I believe that the more free agency we have, the more good deeds, satisfaction and happiness come to fruition. We must not be deceived in what some try to convince us is good. The end does not justify the means. In fact, the means determines results in many ways. When free agency is taken away and replaced with force, the fibers of morality disintegrate. The good in mankind is stifled, and who is left to govern it? Consider this video:

What ObamaCare Looks Like

2010-03-23T14:30:00.000-07:00

Here's a video for those of you who don't know anyone who has experienced "obamacare." This is just a sample, but it won't take you long to find people yourself that came to the good ol' USA to GET AWAY from this kind of care. Take note of a lady in this video who compares her health care to her dog's. Guess which one has the better health care:

http://savecalifornia.com/video-3-22-10-steven-crowder-exposes-what-government-run-health-care-looks-like.html

Want A Serious Laugh?

2010-01-05T12:25:00.000-08:00

Talk about government intruding on personal space. This is a good point of view:

http://mises.org/daily/3997

The Command Economy

2009-12-23T10:32:00.001-08:00

It's been a while. Here's a good read:

http://whiskeyandgunpowder.com/the-command-economy/

The Good and the Bad

2009-04-27T12:11:00.000-07:00

Here's the bad news. There is lots of misinformation out there. Here's a great article that highlights some of the bad information: http://www.moneyandmarkets.com/six-egregious-lies-2-33419

Here's the good news. In the coming months and years we will have increased opportunities to learn more fully the values and morals taught in this video:

At What Price?

2009-03-22T21:45:00.000-07:00

I do not like what I see on the political front. Leaders at the highest level of our government seem to be looking at the current economic crisis as an opportunity to do what they were not able to do when times were better. And it also seems that many US citizens will let them do it expecting government to provide economic security perhaps even in exchange for their liberty.

We have allowed government to reach too far into our daily lives. This reach has extended to such a degree that many citizens of the United States of America feel a sense of entitlement to the american dream instead of a responsibility to make it happen.

The current economic crisis is a perfect example. The american dream has become, over the years, embodied in visions of large homes decorated with granite countertops, stainless steel appliances, surrounded by lush green parks in well planned out communities. This "dream" should be made available to all regardless of income, ethnicity and... ability to pay? That's exactly what happened as Fannie Mae and Freddie Mac loosened lending standards at the urging of certain members of congress, primarily during the Clinton administration and not curtailed during the Bush presidency, allowing those that could not pay to buy homes that they could not afford. This is a large factor that directly resulted in the housing"crisis" we see today. The same government that is supposed to "fix" the crisis is the same one that got us into it? Yep, that's what we're supposed to believe folks.

But can we really lay all the blame on politicians that we elect? Over the last few years US citizens everywhere became complacent rolling in the good times throwing common sense out the window. As equity grew so did the our mortgages. Where did it go? RV's, vacations , a second home, swimming pools, plasma TV's, bad investments, and the list goes on. We abandoned the tried and true common sense of saving for a down payment, buying a home and paying it off and jumped on the frenzied bandwagon of self deceipt and fanatical materialism. Did we really think this could go on forever? The credit boom cycle is busting and so are those that jumped on board.

So, what to do from here. Will we expect and let government provide what we have neglected to provide for ourselves? Nothing is free. For everything there is a price. The question is what is the price? We are in the midst of pivotal moments in the history of the United States of America.

More for your reading and viewing pleasure:

http://www.whiskeyandgunpowder.com/an-unsustainable-way-of-life/

http://www.whiskeyandgunpowder.com/the-power-to-tax-is-the-power-to-destroy/

http://www.youtube.com/watch?v=AdF5TQIv1fU&feature=related

Obama Has No Clothes

2009-02-23T11:45:00.000-08:00

Once again, why write what another already has, and much more elegantly...

http://www.financialsense.com/editorials/casey/2009/0220.html

Worried about a depression?

2009-02-06T13:03:00.000-08:00

If you're worried about the potential for a depression I'd stop worrying and start preparing. It's almost inevitable that if Obama gets what he wants we will be looking one straight in the face in no time at all. Hopefully our country's leaders will come to their senses sooner than later and just let things that should happen happen. As for me, I'm thinking about how I can be one of the entrepreneurs Dan Denning mentions in his blog today:

http://www.whiskeyandgunpowder.com/the-real-causes-of-depression/

Don't get depressed. Start looking for the opportunities.

Nathan

2009-02-05T14:58:00.000-08:00

Unless they've lost their job most people don't understand how economic circumstances really affect them. I think there are short term pains on the horizon that even now most people can't imagine. Here's an article that might help get you thinking about how economics can really affect you:

http://www.whiskeyandgunpowder.com/road-trip-through-montgomery-the-collapse-of-consumerism-and-suburbia/

For more articles like this try this website:

http://www.whiskeyandgunpowder.com/

I know this is a blog where the blogger is suppose to write occasionally but why spend all that time writing when so many other writers have already given plenty of material to get the gears turning. I don't necessarily agree with it all but it does make you think, critically.

Nathan

Ditto

2009-02-04T13:00:00.000-08:00

Ditto this Mr. Schiff:

http://www.europac.net/externalframeset.asp?from=home&id=15192

Why Own When You Can Rent?

2008-12-26T09:44:00.000-08:00

About two and a half years ago Trina and I sold our house and we've been renting ever since. Renting was not the original plan but it became the obvious one shortly after selling. I worked for a home builder at the time and by early 2007 I had predicted that my employer would be gone by the end of 2007 and I'd be looking for a job. I was right, but they lasted a little longer than I thought. The Bank foreclosed sometime in May or June of 2008, just six months after I had already left.

Today I am always asked why I have not bought a home yet. So many people say this is the best time to buy and that I won't see a better time ever. "Better not be greedy" they say. They think if you look for the bottom of the market you'll loose out because by the time you recognize the bottom it will have already passed us by.

I think not. We have a ways to go in my opinion. I think once we hit "bottom" we will be there for a looooooong time. Plenty of time to recognize it and take advantage, if you can. Why buy right now anyway? I can still rent for less than I can buy and in fact where I live there is downward pressure on rents due the large number of homes people are trying to hold on to and rent. While renting I am able to save more money than I could ever save by owning.

I am keeping my eye on things though. Once the cost of renting is greater than owning, that is when I begin looking to buy. I would likely buy even if market values continued to fall as long as the cost of ownership was less than renting. Of course there are other factors to consider as well. I am in no hurry to buy right now since there is an opportunity cost to buying. Once I buy I've thrown an anchor overboard that will be difficult to heave back on board if I need the flexibility to sail off after another opportunity. Flexibility is important under current economic circumstances.

For now, I'm sticking with the current game plan - wait it out. All signs indicate that this is the best way to go for now. The 60 Minutes video and the commentary below are a couple of the many sources that support this conclusion.

http://www.moneyandmarkets.com/your-2009-real-estate-outlook-2-28990

Here Come the "Chuppies"

2008-12-23T10:57:00.001-08:00

Its been a while since I've posted anything on this blog. I believe I became a little exasperated with saying the same thing over and over again, even if it was ten different ways. I don't know that anyone reads this, at least not regularly. If anyone does let me know. Otherwise I'll just keep talking to myself.

For anyone out there that thinks that the world will hurt when the US hurts that may not be so true. Those countries that have high savings rates are sitting pretty. While the US will have to cope with a drastic reduction in our standard of living other parts of the world will increase their standard of living. It's possible that we are witnessing the beginning of a shift of producing economies like China becoming consumers of their own production. No longer will we be able send IOU's abroad in return for goods that we will never fully pay for. Nope, time to start to rebuild America. Let's get some factories here so we can provide for ourselves. Much of the rest of the world has not forfeited their purchasing power as we have so profligately done.

Check out what's happening in China right now. As we spend less there is a new breed of yuppie emerging in China - the "Chuppie":

http://www.moneyandmarkets.com/miracle-on-nanjing-road-2-28925

Did Fed Chief Ben Bernanke and his peers do right by cutting rates?

2008-10-29T16:17:00.001-07:00

No. The Fed did not do the right thing.

The “liquidity” the Fed has been pumping into the market will eventually find it’s way into consumer prices unless Fed policy changes, and it’s doubtful it will. The political winds simply won’t allow it. True inflation is much higher. Asset prices are deflating after a decade, or more, of poor policy decision by the Fed that encouraged asset inflation including real estate.

The Fed is trying to change a normal free market collapse of the bubble the Fed itself created. It’s trying to cure a disease with the same medication that caused it. It won’t work. The Fed needs to back off before it makes the inevitable even worse.

The dollar is inhaling it’s last breath. Whether it exhales quickly or slowly won’t matter. The end result will be massive inflation, perhaps hyperinflation, caused by the very agency that is supposedly commissioned to protect against it.

See other comments by following this link:
http://onassignment.blogs.foxbusiness.com/2008/10/29/weigh-in-did-the-fomc-make-the-right-decision/

Straight Talk

2008-10-17T18:42:00.000-07:00

I had this video posted in an earlier blog but the video source disappeared on me. Found a better source any way.

This is by far the best televised discussion of the real problems we face. Debt, consumption, real estate, depression, college tuitions, and more all discussed...

http://www.europac.net/Schiff-CNN-10-6-08_lg.asp

Greenspan's Extra Terrestrial Interview

2008-10-14T16:08:00.000-07:00

It's always fun to read economic analysis wrapped in an amusing story. ET explains a huge problem to former Fed Chairman Alan Greenspan:

"Debt levels are central to the safety and soundness of a financial system. Left unchecked, they grow to a point when the debt service burden starts squeezing disposable income, which in turn curtails spending and what you call economic growth. If the ‘squeeze’ becomes a ‘shock’, as in rate resets of your Adjustable Rate Mortgages, the consumer defaults. If enough defaults occur, lenders get scared, pull in their horns and curtail credit. This sets off a chain reaction … lower spending, leading to lower business profit, leading to lay-offs. Now you have consumers experiencing painful shocks to both incomes and obligations … leading to more debt defaults … which repeats the cycle in a downward spiral."
Read more...

More on Inflation

2008-10-09T09:51:00.001-07:00

Here are a couple of video clips that I thought were very poignant with regards to inflation and monetary policy.

The first is a clip of Ron Paul questioning Fed Chairman Bernanke who agreed with Ron on the subject of inflation but then in typical government fashion pushed it aside and diverted attention to price issues which have nothing to do with inflation.

Remember, inflation is simply an increase in the money supply NOT an increase in prices per se although inflation will cause prices to rise. Absent inflation prices are a function of demand and supply. This is high school economics but listen to how hard it is to understand Bernanke who is so revered by the main stream media and most politicians as the maestro that will lead the class to the promised land. Then contrast to Ron Paul's common sense comments.

I think that someday we'll look back on the Federal Reserve Act of 1913 that created the Federal Reserve with disdain. In that act congress delegated it's constitutional authority to "coin money and regulate the value thereof" (Article 1, Section 8 of the US Constitution).

This second clip is Ron Paul commenting on the discussion in the first clip.

Under our current circumstances the Fed is already pumping "liquidity", short for printing money or creating inflation, into the market place. In the short run it will benefit big financial institutions. Current Fed policies will erode the value of the US dollar and US denominated assets.

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You Really Should Read This

2008-10-03T11:29:00.001-07:00

Everyone that has read anything on this blog should really read this book - "Crash Proof: How to Profit From the Coming Eceonomic Collapse". This book gave me a framework that I was able to use to put all the Wall Street hype in perspective. Everything that is happening today was addressed in this book when it was published in 2006. I wish I had this to read years ago! If you're not interested in reading it at least listen to the author talk about it.

The author, Peter Schiff, hosts a weekly radio broadcast and talked about the bail out bill and many of the things in his book in this week's show. To listen to the show click here. I usually download to my phone and listen to it while driving.

If you you're interested, and I hope you are as much as I am, check out his firm's website at www.europac.net and click "Resources" for a number of great video interviews, commentaries and other useful sources.

Unfortunately I know that not everyone can take the invesment advice given but the economic perspective is crucial to understand regardless.

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Fiat Currency Revisited - Inflation

2008-10-02T12:51:00.000-07:00

I mentioned fiat currency in my blog "Why I Oppose a Bail Out". The article below makes several good points on why printed, or fiat, money leads to inflation. In my opinion you should ignore the investment advice given, except for holding some gold if you are able, because the best thing to do is get out of the dollar all together.

http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=2368

Of course all currencies in the world are fiat currencies but the situation in the US leaves us almost no choice but to print enough money to buy our way out from under the huge debts we owe the rest of the world. Other countries will inflate but not even close to what we are going to see in the US.

For a really fun read on inflation and how it is created read Irwin Schiff's comic book story "The Kingdom of Moltz" that I posted in my "Basics" blog last week.

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Disaster is About to Strike

2008-10-01T16:49:00.000-07:00

Ron Paul's comments on why a bail out is a bad idea...

http://www.europac.net/voicesframeset.asp?id=4

Also, Rush Limbaugh devoted the first hour of his show to the bailout plan yesterday. I’d recommend listening to or reading the transcript from the first hour. I thought he had some good perspective to add to the situation. He also, quotes much of the article by Jeffrey A. Miron that Trina put in her blog yesterday. I am pleased to see that Rush caught hold of an article that she recommended reading. Click here for the transcript of the first hour of Rush’s show. Unfortunately you have to subscribe to get the audio or I’d have posted a link here.

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Why I Oppose a Bail Out

2008-09-30T21:37:00.000-07:00

I oppose any type of bail out plan for many reasons. Here are a few:

First, I believe it is morally dangerous and takes us a few steps further down the socialist road. To quote Peter Schiff :

“When the U.S. government owns all mortgages, the real estate market will be completely subject to political, rather than financial, concerns. Will foreclosures be outlawed? Will loan term easements and principal reductions become standard campaign issues?”

My fear is that property rights could be lost in the name of saving the economy.

Second, for months Paulson, Bush and Bernanke have been saying that the fundamentals of our economy are sound and then suddenly they say they need billions of dollars with complete control? I refer to a quote we posted on our “Where Will We Stand” blog:

"Give me control of a nation's money and I care not who makes her laws." - Mayer Amschel Rothschild.

I am not going to trust the same guys that lied when they said everything was fine. These guys were trying to save face with foreign investors and central banks - our creditors – knowing full well the situation was grim.

Third, these same three amigos of ours have somewhat created their own reality. They have pressured congress to act in such a huge way so quickly and have already bailed out enough firms that were “too big to fail” that they signaled banks and other troubled financial institutions to wait on the sidelines to see what hand out the government would give them. This slowed the lending that typically occurs between banks and dried up liquidity in the market that allows transactions to flow. If they were smart they would have started a long time ago with small incremental changes to build up to what they propose now but as I mentioned before the situation did not really allow – they had to save face.

Fourth, our Amigos are very smart men. But if they didn't have the foresite to see this coming when many others did, why should I believe that they know how to get out of this mess? As I'll point out below I think that there are some important issues they have not even addressed. But why should we expect any more from politicians? I'll ride the free market out thank you very much.

And last, for now, if some type of bail out were to pass, and it appears that the fight for a bail out will continue, I don’t believe that it would improve our final position when the dust settles. In fact, it is likely to make things worse, in my opinion.

The reason why is that the fundamental problems that got is in this position cannot be addressed in a matter of weeks. They run much deeper than that. I think the main long term issues are pretty simple:

Now, there is way too much behind each of these statements to address them here. I’d like to attempt that later. In my opinion these are the main issues that will lead to a huge devaluing of the US dollar thru inflation. Stay tuned for more on that …

Where do we go from here?

2008-09-29T14:01:00.000-07:00

Hopefully, this bad bail-out bill will continue to be defeated. So what now? First, let's make sure we all understand how we got here. The more we study, the more we realize we need to face our consequences and make some changes. Click the following link for an article about how we got here and where we should go next.
http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html

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Good Ole Boys Club Takes One on the Chin

2008-09-29T10:58:00.000-07:00

The $700 billion bail out plan failed to pass the House. US citizens everywhere expressed their anger that a Wall Street bail out only profits those who particpated most in causing the problems. As far as I am concerned any type of bailout leads us down a very slippery slope. This time they listened to us and this is proof to me that we can have an impact. Small ripples gather to make large waves. Please continue to communicate your thoughts to your representatives. We just avoided a huge step towards socialism!

Here a couple of links for more:

http://money.cnn.com/2008/09/29/news/economy/bailout/index.htm?cnn=yes

http://www.foxbusiness.com/story/markets/senators-push-lawmakers-pass-bailout/

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Where Will We Stand?

2008-09-27T22:24:00.000-07:00

An email we sent just before posting here:

Dear Friends and Family,

The Constitution is eroding before our eyes. Where will we stand? There is now a bail-out plan pending in Congress that we need to give careful attention to. There is panic about the direction our economy is going in. Individually and as a nation we have increasingly used debt to fund our consumption. We have been borrowing from other countries to finance our spending. In a word, we have maxed out all of our credit cards, cannot make the minimum payments, and there are less and less people wanting to lend us money, and for good reason.

Much of the media, and many of our government leaders in essence say that we cannot survive without increasing the amount of debt we carry. They argue that the amount of money we owe to the world does not matter because we are the economic force that makes the world go round. What? What makes our country any different than its individual citizens? None of us can say that the amount we owe the bank doesn't matter because without us the bank would go out of business! Ludicrous! Our nation is so addicted to debt that our leaders are now going to take our money and "lend" it to the fat cats in Wall Street because somehow it will "trickle down" to us so that we can still have easy access to more debt that will pull us out of this recession. The thinking that got us in this position is supposed to get us out?

The scary thing about this bill is that it will put all of this money into the hands of one person, Treasury Secretary Paulson, to do as he sees fit. And even scarier, he will be above the law for how he spends it -- no congressional oversight, no judicial review, nada. He will have dictatorial power! Many Americans see that this is no good and are writing their representatives in Congress to oppose the deal. We urge you to do the same! THIS IS A BAD DEAL! It is unconstitutional.

The President, The Fed and The Treasury all warn us that there will be dire consequences to our economy if this bill does not pass, but they cannot guarantee us that it will even work. In fact, hundreds of top economists have stated that it will not work! The truth is that we are headed into a deep recession, and rightly so. We need to decrease our spending and save. Our credit cards are maxed out! Does it make sense to sink deeper into debt even as we shred the Constitution to pieces?! There are a lot of economic principles and concepts to understand how all of this works. Read the Constitution. Remember why the United State of America came to be. Remember that basic principles work the same for a country as for an individual. We need to stay out of debt. Also remember that we become a slave to whoever we are in debt to. Remember to learn from history. Why did Germany let Hitler take over-- because of desperation! Do not look to someone or some government to save you! We are citizens of the United States of America! We are FREE! Free to choose for ourselves, free to accept the consequences of our successes and our failures and become better for it all. We should not sell our freedom because of fear and desperation. Of all people, we can learn and recover because we are free to do it! Where will we stand?

Please participate by voicing your opinion to your representatives in Congress - Senate and House. Also, please visit our blog at http://beylernomics.blogspot.com/. We would like to know what you think.

In Freedom,

Nathan and Trina

"Give me control of a nation's money and I care not who makes her laws." Mayer Amschel Rothschild

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Another $634 billion?

2008-09-27T22:14:00.000-07:00

Unbelievable! Leave it to the Democrats in Washington to "sneak" something like this through while everyone's attention is on another bill! The President was previously opposed to all of this additional spending. What changed his mind? Did he strike a deal to get the Wall Street bail-out passed? Sure makes you wonder. Bush still has to sign it. Time to quickly put in my two cents. Click here to find out about another spending spree with tax payer money that we don't have.

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Socialism on the Rise

2008-09-27T21:37:00.000-07:00

Sometimes it's best to let others do the talking...

http://www.europac.net/externalframeset.asp?from=home&id=14065

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Teaching China

2008-09-27T19:26:00.000-07:00

China has been looking-up to the U.S. as an example, as a "teacher." The good, old U.S.A. is a wonderful model to follow, if it practices what it was founded on. Too bad that hasn't been the case as of late. It's really quite unfortunate. China has also been funding a lot of our debt. I think that our government has actually been afraid of losing their confidence, thus losing their funding. That is a big reason why they bailed-out Fannie Mae and Freddie Mac. It is becoming more and more apparent that the United States economy has been running on "ridiculous" practices that cannot be sustained. Our student, China, is learning, but has our example been good or bad? Look what they're saying now. Click here.

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Basics

2008-09-27T18:51:00.000-07:00

The comments below are from an email I sent July 18, 2008. I was surprised with the reaction of some that somehow I was making an investment pitch or promoting someone for personal gain. Nothing of the sort. My intent was to simply raise awareness of issues that I believe are fundamental to understanding the situation we find our country in and provide resources to that end:

Economic Resources

Many of today's economic woes have been caused by our own government's attempt to influence the "invisible hand" of true capitalism and our nation's addiction to debt. With so many major US companies on the brink of bankruptcy and near annihilation you might ask how this happened to the greatest nation and economic force in the world and, arguably, in history. I've found some answers in some sources that I'd like to share with you now. Please, I urge you to take time to read these. I believe that the tide is receding and a huge tsunami of economic turmoil is headed to the shores of the United States of America.

How is money created and what backs it? Learn how the decision to drop the Gold Standard has hurt the USA. Read Alan Greenspan's essay "Gold and Economic Freedom" published in 1966 - http://www.321gold.com/fed/greenspan/1966.html. Unfortunately, Greenspan didn't follow his own advice during his tenure as Chairman of the Federal Reserve. "Helicopter" Ben Bernanke is following the same horrific path.

If you believe the Fed's inflation rates (calculated in the CPI) then you probably don't do your own shopping or gas pumping. Inflation is created and reported by the federal government. Read Irwin Schiff's comic book story "The Kingdom of Moltz" to understand what inflation is and why it is in the government's interest to create it, understate it, and promote the false notion that it occurs naturally in any economy. http://www.constitution.org/tax/us-ic/schiff/moltz.pdf

Finally, to put all the pieces together, and for some great investment advice, read Peter Schiff's book "Crash Proof: How to Profit From the Coming Economic Collapse" published in 2006. Peter is one of the few that has for years been predicting the bursting of the housing bubble and many other things that have already happened. He explains economics in a simple and easy to understand way and then lays out an approach to preserving wealth and capital. I have already taken his advice and you can benefit too whether you have anything to preserve or not. The book can be found on Amazon.com and in bookstores. Check out his website that introduces the book and offers a ton of great commentaries, video archives and other resources that will help out as well. http://www.europac.net/ I hope to be able to discuss this further with most of you. Please forward this email on to anyone you think would be interested in this discussion.

Nathan

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