Tag Archives: adam smith

Revising Adam Smith

By J.D. Alt

The Ebook DIAGRAMS & DOLLARS (in top 10 best-sellers on Amazon/ category money & monetary policy!) paints an optimistic picture of what “Sovereign Spending” could achieve for our collective benefit. The video made from it (approaching 3,000 views on YouTube—thank you Haiku Charlatan!) ends with cheering calisthenics around the final diagram of our national prosperity. Unfortunately, the “real world” of our Congressional leaders and media spin-machine is painting a very different picture—a dire vision of out-of-control government spending and national insolvency. Understanding why that is, and what we can do about it, is the real challenge we have before us.

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Green Slime Drives Our Financial Crises

By William K. Black

“Pink slime” just had its fifteen minutes of fame.  BPI, the producer of pink slime, calls it “Lean Finely Textured Beef.”  BPI’s slogan is “expect a higher standard.” Pink slime starts with fatty tissues that are inherently more likely to be repositories of salmonella and e coli infections.  The tissues are shredded and rendered and most of the fat drained off.  The pink slime, however, is still more likely to be infected after this processing and that makes it dangerous and can make it smell spoiled.  BPI’s “innovation” was to gas the pink slime in Mr. Clean (ammonia) to try to kill bacteria and reduce the stink.  The resultant pink slime is then frozen into bricks and shipped in bulk.

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Latest in Deficit Terrorism: Postal Service Default

By Mitch Green

Americans living in rural areas should brace themselves for a new dose of pain.  As the USPS approaches the end of its fiscal year, where it will be unable to make payment of $5.5 billion to its employees health benefits fund, it is considering closing over 3600 facilities nationwide.  Just yesterday they placed on the chopping block another 250 processing centers.  Most of these closures are distributed throughout rural areas, a demographic that has borne a considerable amount of hardship throughout this entire contraction. For an interactive map of the proposed closures go here.

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