China’s Ghost Cities and the Asian Real Estate Bubble

After meandering throughTom Woods’ blog I saw this 60 Minutes video he posted about the Chinese ghost cities. This isn’t like the North Korean city of Kijŏng-dong, which was built by Kim Il-Sung with no intention of every… Continue reading

Effects of QE3 in the Housing Market

In yet another attempt at jump starting the economy, the Federal Reserve’s latest major stimulus action, known as QE3, is likely to have less effect on the housing market than Fed Chairman Ben Bernake would hope.

QE3, shorthand for the third “quantitative… Continue reading

How Banks Shirked The Bill For The Crisis And Emerged Richer Than Ever

There are many myths surrounding the “American banking industry” as it relates to its health and well-being. In that regard, the banking analysis that follows is an attempt to bring clarity as to where the U.S. banking industry currently stands… Continue reading

A Case Study in Government Stupidity: Kansas City, MO

Lying in between Kansas City’s downtown and its famous plaza is Hyde Park. Hyde Park is an upper end neighborhood with beautiful old homes. But now lies a couple of eye sores you can see from the Google Earth view:… Continue reading

A Case Study in Government Stupidity: Cincinnati, OH

The names and pictures of this building and those involved have been changed to protect the identity of the stupid.


We all know the government has a bad habit of spending an ungodly amount of money for no good… Continue reading

Prove Fannie and Freddie Innocent Before Suing the Banks–And Here Is How

Last Friday the U.S. regulator, the Federal Housing Finance Agency (FHFA), which has the oversight responsibility of Fannie Mae and Freddie Mac, sued 17 large banks and financial institutions relating to losses on approximately $200 billion of Fannie Mae and… Continue reading

Austrians vs. Keynesians: A Case Study

The Keynesian model and the Austrian economic philosophy continue to lock horns. Similar ideas have gone toe to toe for three centuries now trying to explain the business cycle. Thomas Malthus and Jean-Baptiste Say made their case in the 19th century,… Continue reading

Henry Hazlitt Calls The Housing Bubble in 1946

It’s too bad recent politicians have not listened to Henry Hazlitt. Had they bothered, he would have explained to them why the existence of Government-Sponsored Enterprises Fannie Mae and Freddie Mac is a very bad idea. You see, Hazlitt knew… Continue reading

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