http://www.FreeMarketNews.com FreeMarketNews.com - FMNN itself is an independent media solution, an Internet-grown, free-market alternative to mainstream media complexes. en-us Mon, 12 May 2008 06:04:00 EST http://www.Freemarketnews.com/WorldNews.asp?nid=57262 Will India ban gold futures trading? Mon, 12 May 2008 04:49:00 EST http://www.Freemarketnews.com/WorldNews.asp?nid=57261 Russia is moving to protect its gold supply. Mon, 12 May 2008 04:47:00 EST http://www.Freemarketnews.com/WorldNews.asp?nid=57260 Patients taking a cholesterol drug torcetrapid have 58 per cent higher risk of death than those not taking this drug. Mon, 12 May 2008 04:43:00 EST http://www.Freemarketnews.com/WorldNews.asp?nid=57259 A Mennonite farmer has been arrested for selling raw milk. Mon, 12 May 2008 04:39:00 EST http://www.Freemarketnews.com/WorldNews.asp?nid=57258 The number of young pregnant women who are diabetic has doubled according to the American Diabetic Association. Mon, 12 May 2008 04:35:00 EST http://www.Freemarketnews.com/WorldNews.asp?nid=57257 Texas Rep. Ron Paul and his libertarian-minded GOP backers are collecting delegates at the local level and planning a revolt against Sen. John McCain Mon, 12 May 2008 02:18:00 EST http://www.Freemarketnews.com/WorldNews.asp?nid=57256 People in Waterloo are trying to figure out what sort of operation federal officials are conducting in town. Mon, 12 May 2008 01:52:00 EST http://www.Freemarketnews.com/WorldNews.asp?nid=57254 The mentally ill are speaking and marching for themselves. Mon, 12 May 2008 01:47:00 EST http://www.Freemarketnews.com/WorldNews.asp?nid=57255 The Port Authority of New York and New Jersey has been held liable in connection with the 1993 World Trade Center (WTC) attack. Mon, 12 May 2008 01:46:00 EST http://www.Freemarketnews.com/WorldNews.asp?nid=57253 The Turkish military attacked Kurdish separatist rebels in northern Iran on Sunday. Mon, 12 May 2008 01:35:00 EST http://www.Freemarketnews.com/Analysis/117/9574/?wid=117&nid=9574 There are those who believe that business is inherently corrupt--communists would be among those, and socialists. The very idea of striving to make a profit is treated by these people as morally objectionable. Of course, some even think medicine fits the bill, or military service. And there are animal rights advocates who believe the entire meat industry is morally base. For my money the one profession that has indeed become completely, utterly morally irredeemable is politics. Not that even this is necessarily the case--politics could be an upstanding profession in a genuinely free country where those practicing it did what the American Founders believed should be their task: to secure our rights, period. But that has never been the way most people in government viewed their job. Instead these days politicians are hired extortionists. They run for office by promising voters that they will successfully expropriate resources from others and hand it to voters if they only manage to be elected. Mon, 12 May 2008 02:13:00 EST http://www.Freemarketnews.com/Analysis/102/9573/?wid=102&nid=9573 Junior Mogambo Ranger (JMR) Phil S. sent me an article titled "Numbers Racket", with the subtitle "Why the economy is worse than we know", by Kevin Phillips, which first appeared in (I assume) Harper's Magazine, and which I had talked about in a previous MoGu newsletter - although I forget which one, and I am not going to go find out because I can hardly stand to read that Stupid Mogambo Crap (SMC), as it is embarrassing enough to write it. I can only imagine your embarrassment in being caught reading it! Hahaha! But this article is not about solving that old riddle, "Who is the most stupid: The Mogambo for writing his stupid crap, or the people who voluntarily read it?", but about how I am glad JMR Phil sent it to me, because there was something in it that I had missed before, where the discussion turned to unemployment. Mon, 12 May 2008 02:10:00 EST http://www.Freemarketnews.com/Analysis/28/9572/?wid=28&nid=9572 An old friend gave us a subscription to the National Geographic. When an issue comes, Henry takes it and spends hours reading. This month, the magazine devoted the whole issue to China and Henry passed almost all of Sunday afternoon studying it. "China is unbelievable," was his judgment by evening. Every detail is a superlative...bigger, faster, higher, more...more...more. Things are happening so fast that in just 10 years, China will be the world's biggest economy. We don't have to tell you what that means, dear reader. Give a guy some money and it's not long before he thinks he can tell other people what to do and how to live. The United States became the world's largest economy around 1900. By 1918, Woodrow Wilson was headed to France with his "14 Points." "God himself only needed 10," said Clemenceau. Mon, 12 May 2008 02:07:00 EST http://www.Freemarketnews.com/Analysis/96/9571/?wid=96&nid=9571 For those holding out hope that the American economy can miraculously avoid a long and deep recession consumer credit is often viewed as the wonder drug that can cure all manner of economic ills. As such, this week's report showing $15 billion growth in consumer credit was widely heralded as proof of America's economic strength and resilience. However, we are now suffering the after effects of too much debt, and our salvation cannot be found in more of the same. Mon, 12 May 2008 02:01:00 EST http://www.Freemarketnews.com/Analysis/246/9570/?wid=246&nid=9570 There are those who believe that business is inherently corrupt--communists would be among those, and socialists. The very idea of striving to make a profit is treated by these people as morally objectionable. Of course, some even think medicine fits the bill, or military service. And there are animal rights advocates who believe the entire meat industry is morally base. For my money the one profession that has indeed become completely, utterly morally irredeemable is politics. Not that even this is necessarily the case--politics could be an upstanding profession in a genuinely free country where those practicing it did what the American Founders believed should be their task: to secure our rights, period. But that has never been the way most people in government viewed their job. Instead these days politicians are hired extortionists. They run for office by promising voters that they will successfully expropriate resources from others and hand it to voters if they only manage to be elected. Mon, 12 May 2008 01:56:00 EST http://www.Freemarketnews.com/Analysis/246/9569/?wid=246&nid=9569 In today's increasingly mature market environment, basing one's investment decisions on the recognition of commonly followed patterns, like a 'head and shoulders pattern', has proven to be an expensive mistake all too many times for traders throughout the past 10-years or so. This is because when a large enough body of investors / speculators get to know something, and then act on it, what may have once proven to be a reliable 'sell signal' becomes the opposite due to betting practices of market participants in what has morphed into more of a casino than a market. With respect to the stock market today, it's fair to say this is exactly what condition our condition is in., fuelled by runaway money supply growth also characteristic of high degree market tops that can take many years to fully mature. Wed, 7 May 2008 09:08:00 EST http://www.Freemarketnews.com/Analysis/65/9568/?wid=65&nid=9568 Once every several months, an opportunity is presented on a silver platter to purchase a spectacular investment in a strong uptrend, with loud indications of continued upward trend in price. Gold is heading well past $1200 and silver is heading well past $25 in the next several months, despite the orchestrated annihilation of honest valid reporting. How many times have the clowns on Wall Street and the financial subservient media networks claimed that the worst was over for the USDollar, gold, the USEconomy, the housing market, and bank bond losses? My guess is about once per year for the last five years, all wrong, and still wrong, just louder wrong now in tone. Has anything been fixed on the economy, housing, mortgages, or banks? No! The flow of USFed repo money to banks has improved, that is all. That is not a remedy, but a bandage tourniquet, grossly misinterpreted. Wed, 7 May 2008 09:04:00 EST http://www.Freemarketnews.com/Analysis/160/9566/?wid=160&nid=9566 One of the hot topics among the many blogs that follow political personalities and events is whether Barack Hussein Obama is secretly a Muslim. I usually am not attracted to such speculation, but let me share some insight into Islam that suggests there is at least some basis for the question. Few in the West know of the doctrine of "taqiyya", the concealment of a Muslim's true faith. As Robert Spencer explained in his book, "The Politically Incorrect Guide to Islam (and the Crusades)", there are "two enduring Islamic principles: the permissibility of political assassination for the honor of the Prophet and his religion, and the allowance for the practice of deception in wartime." Mohammed said that, "War is deceit." Wed, 7 May 2008 09:01:00 EST http://www.Freemarketnews.com/Analysis/56/9567/?wid=56&nid=9567 A great deal of carping goes on about the crap China exports to us (by popular demand). Very little is said about the sh-t we ship over there. Here Glenn Beck reports on the little American Lolitas, courtesy of Disney, who help sell sexy underwear to China's children. Beck describes (and later shows on screen) a "White girl, 12 years old, reclining in a matching bra and panties set with Disney's signature mouse ear design in a particular creepy detail, the pigtailed child is playing with a pair of Mickey Mouse hand puppets. In the left-hand corner is the familiar script of a Disney logo." Wed, 7 May 2008 09:01:00 EST http://www.Freemarketnews.com/Analysis/246/9565/?wid=246&nid=9565 When Jean-Claude Juncker, Luxembourg's premier and the chair of Europe's finance ministers, announced on April 23 that "financial markets and other actors [had not] correctly and entirely understood the message of the [recent] G7 meeting," his words went essentially unheeded. The Daily Telegraph's Ambrose Evans-Pritchard put that message in clear language. "[Juncker], he said, "has given the clearest warning to date that the world authorities may take action to halt the collapse of the dollar and undercut commodity speculation by hedge funds." Prior to Juncker's comments French Finance Minister Christine Lagarde likened the recent G-7 stance to the 1985 Plaza Accord when the industrialized nations agreed to "coordinated intervention" to drive down the dollar. When asked whether the G7 statement might hint at a new coordinated intervention, Lagarde replied "the future will tell." Tue, 6 May 2008 11:36:00 EST