October 31: transformation of science

“It is into Calvinism that the Modern world strikes its roots. For it is Calvinism which first reveals the dignity and worth of man. Called of God, heir of heaven, the merchant in his shop and the peasant in his field suddenly became the equal of noble and king.” John Green

Denver will celebrate Halloween next week. But they will not be celebrating the most significant event of that day: the birth of the Reformation. When Luther nailed the 95 Theses that fateful day in 1517, he nailed the coffin of the Middle Ages. Many historians trace the modern era from the Reformation. And one reason is the economic impact of that God-given event.

(Continued here.)

Rest of series:

• October 31: the birthday of the Reformation
• October 31: transformation of the church
• October 31: transformation of economics
• October 31: transformation of science
• October 31: transformation of early America

TARP three years later

What Forbes has to say, here.

Mass. struggling with expanded health coverage

Full story here.

Coming to the other states soon...?

More government intrusion into our food?

Here is an interesting article on potential expansion of government into our food supply.

Children of Economics

"If we refuse to limit spending on health care--or on Social Security or national defense or education--because such limits will cause distress, suffering, and outrage, then we've decided to keep spending trillions we don't have, endlessly. There's a name for people who won't accept that life is difficult, and that hard choices must be made. We call them children"

William Falk, Editor-in-chief, The Week, Nov. 26, 2010

Verify Your Mortgage

Online ability to verify here.

Hyperinflation?

This is one group's opinion. Others think deflation may hit first. Either way, get out of debt and be a boy scout about your essentials: be prepared.

Manipulation of Gold Markets

Back in the early 2000s several groups caught some of the financial institutions attempting to set gold prices.

These institutions included Barrick Gold and J.P. Morgan Chase & Co.

Don't think they won't try again.

Market Depressions?

A friend of mine writes about economics on the side.  And he collects sources from those with more experience.

Here is an interesting article: America slides deeper into Depression

Gold, the Dollar, and the Markets

Something thoughtful over at A Fireside Chat.

TARP Penalized Early Out with 60% Interest

Small Bank Hit With Big Bill In Bailout

Effects of Inflation

“Inflation and debt also affect the nature of power in a society. First, in an inflationary economy, it is not the thrifty, hard-working man who flourishes, but the debtor (at least, for the time). The moral foundations of society have been shifted to favor the worst element. In every area, as inflation is stepped up, the scum tends to rise to the top. The sympathies of society favor this degenerate element.

Second, production gives way to consumption as the primary concern of the people. Third, there is thus a power shift in society from godly men to ungodly men, from the thrifty to the thriftless. Spending becomes a personal and a political virtue.

Fourth, the power to make or break the social order passes into the hands of debtors. General Lewis W. Walt (USMC, Ret.) has called attention to this most tellingly. When the U.S. Establishment (banks, civil government, etc.) has extended massive loans to states, firms, and organizations at home and abroad whose ability to repay is limited, then in time these borrowers control the Establishment and the United States. They can threaten to default on their loans and create economic disaster for the U.S. The response then is to give them even more! Thus, in the 1940s, Aramco sold oil to the Japanese at a lower rate than to the U.S. Nay, and American bankers supported the Panama Canal giveaway, hoping that its revenues might help Panama to repay them.”

The Roots of Inflation, p.51