Brookes News Update

US economy, stock market mania and economic ghosts Austrian economics explains that the emergence of certain economic phenomena are invariably symptoms of a looming recession
Getting the Australian economy wrong - the consumer spending fallacy The dangerous myth of consumer-led growth still underpins all economic commentary, including that from professional economists
Debt, deflation and the US economy Those who worry about the US economy and debt are focusing on a symptom and not a problem
Diogenes' Lamp reveals all Jill Singer of the Herald Sun has made the amazing discovery that Gough Whitlam was responsible for Cyclone Tracy in 1974. Malcolm Turnbull has learned a lesson from Orwell's 1984. Unfortunately it was the wrong lesson. Not so funny is that the Brack's Government intends to destroy what is left of the state's education system and produce a generation of illiterates in order to satisfy the hateful political fantasies of the party's leftwing fanatics
Amnesty International leftists put the democracies on trial Amnesty International's disgraceful attacks on the US have laid bare its ideological bigotry
Good question, Senator Kennedy Forty years of dependency, sponsored by the Democrat Party, is truly the reason the poverty of spirit and means is so prevalent in New Orleans

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ELSEWHERE

A VERY interesting report from a helicopter pilot working over New Orleans here. Excerpt: "The violence you heard about was only the tip of the iceberg. One of our Guard members was with the Fish & Wildlife and deployed early to NO as security. They encountered four dead men in a neighborhood who had been shot, execution style. Their wives had been raped... Our hangar in Baton Rouge housed 300 Border Patrol agents with all kinds of exotic weaponry. They were inserted into the bad neighborhoods and reportedly nailed about 25 of the goons from roving armed bands. They then just withdrew and let them lay... Some have claimed that racism caused black people to be left while white people were brought out. Of the 81 people I brought out, 2 were white. Both thanked me. Only 3 other people thanked us, as I recollect. When we cruised over flooded neighborhoods, we'd say to each other, "Hey, this is a high dollar neighborhood. Let's go back to the projects." We never pulled anyone out of a good neighborhood. They left before the storm. We were trying to maximize the number of saves we had, so we'd go to the "hood."

Norberg on globalization: ""When globalisation knocks at the door of Bhagant, an elderly agricultural worker and untouchable in the Indian village of Saijani, this leads to houses being built of brick instead of mud, and to people getting shoes on their feet and clean clothes - not rags - on their backs," he wrote in In Defence of Global Capitalism. "Outdoors the streets now have drains and the fragrance of tilled earth has replaced the stench of refuse. Thirty years ago Bhagant didn't know he was living in India. Today he watches world news on television." .... "The Asian economies are the most impressive economies today," he says. "Low-income Asian countries like Taiwan and South Korea were just as poor as African countries 50 years ago. Now they are 20 times richer. Since 1981, extreme poverty in the developing world has been reduced by half. It has dropped from 40 per cent to about 21 per cent. The world has never seen such a rapid reduction in poverty, hunger and infant mortality." Or as Norberg's website says: "In the poorest developing countries, somebody working for an American employer earns no less than eight times the average wage in their own country.""

The corrupt UN It's time utopian dreamers set aside their romantic visions of the United Nations just long enough to confront the reality of what the organisation has become. The penultimate report of the Volcker inquiry into the Iraq oil-for-food scandal has lifted the lid on what can only be described as a cesspit of corruption, cynicism and incompetence.... The shadow of suspicion now extends to the entire UN procurement bureaucracy. Last week, federal prosecutors in the US launched an indictment against the head of the UN's budget oversight committee, Vladimir Kuznetsov, on charges of laundering thousands of dollars worth of bribes paid by companies seeking UN contracts. Investigations are exploring irregularities in the awarding of UN humanitarian contracts in East Timor, Liberia, Eritrea, Lebanon, Cyprus and Syria. It is a debacle. It is a disgrace".

Gruesome: "Several health workers have been arrested in Shandong Province in the east of China after the authorities admitted that local officials had been forcing women to have abortions or undergo sterilisations. Sources in Linyi City and its surrounding counties claimed that up to 120,000 women had been coerced into submitting to the procedures and that some of them were in the ninth month of their pregnancies. The arrests follow the detention on 6 September of a local activist, Chen Guangcheng. Mr Chen had claimed that women with two children were being forced to undergo sterilisations, while women pregnant with their third child were required to have abortions."

More bureaucratic madness: "Hundreds of tons of British food aid shipped to America for starving Hurricane Katrina survivors is to be burned. US red tape is stopping it from reaching hungry evacuees. Instead tons of the badly needed Nato ration packs, the same as those eaten by British troops in Iraq, has been condemned as unfit for human consumption."

Funding phony claims is a real FEMA disaster: "Former Federal Emergency Management Agency director Michael Brown's incompetence was writ large this month when FEMA frittered while New Orleans sank. Yet long before Katrina hit the Gulf Coast, FEMA had developed a reputation of gross incompetence. The nation cannot assume that Brown's departure is all that is necessary to put the agency on sound footing. FEMA came under close scrutiny by the media in Florida last year after that state was hit by four brutal hurricanes in a matter of weeks. The findings weren't encouraging. The South Florida Sun-Sentinel reported that after Hurricane Frances, FEMA gave away more than $31 million in disaster assistance to residents of Miami-Dade County who were about 100 miles south of the storm."

A lesson from Central Europe: "Slovakia has plentiful cheap, educated labour and business-friendly tax rates, including the flat tax which takes a straight 19 per cent and no more from corporation and citizen alike. This tax clarity has reduced widespread evasion and so hugely increased revenues."

Carnival of the Vanities is up again with lots of interesting reading.

For more postings, see EDUCATION WATCH, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, SOCIALIZED MEDICINE. Mirror sites here, here, here, here and here. And on Social Security see Dick McDonald

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Practically all policies advocated by the Left create poverty. Leftists get the government to waste vast slabs of the country's labour-force on bureaucracy and paperwork and so load the burden of providing most useful goods and services onto fewer and fewer people. So fewer useful goods and services are produced to go around. That is no accident. The Left love the poor. The Left need the poor so that they can feel good by patronizing and "helping" them. So they do their best to create as many poor people as possible.

The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialistisch)

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