Electromagnetic Railguns – The U.S Military’s future Superguns – 200 mile range Mach 7 projectiles

The Story Of The SMS Emden I THE GREAT WAR – Special

Nice summary of the drivers of poverty

“A Life Cycle Model of Trans-Atlantic Employment Experiences” by Thomas J. Sargent

Bank capital again

croaking cassandra

Just a quick post today, as submissions close soon on the Reserve Bank Governor’s plans to require banks to fund much more of their balance sheets with equity capital, and I still need to write mine.  The Governor stated last week that the Bank has already received 50 or so submissions.  I hope that, in the spirit of open government and genuine consultation, the Bank will put those submissions up on their website pretty promptly –  and not, as is more usually the case with them (but not, say, with parliamentary select committees), only when the Governor has made his final decision.

I’ve seen a few submissions, none of which seemed very positive on what the Governor was proposing.   It remains striking that, five months on from the release of the initial consultative document there has still been no serious attempt at a cost-benefit analysis, and only the promise…

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Civil Rights in Song (1): Eyes on the Prize

RGS History

582_Freedom1

Given that one of the most important roots of the civil rights movement was in the black churches, and given the importance of gospel music to those churches, it’s hardly surprising that music provided a vibrant and very important sound track to that struggle. So, time for some civil rights songs: here, from the time itself, in the years leading up to the passing of the Civil Rights Act and the Voting Rights Act.

On that famous day, in 1963, when Martin Luther King spoke to the crowd in Washington, it was the gospel singer and civil rights campaigner, Mahalia Jackson, who shouted to to King to ‘tell them about the dream’. King listened, and so did the world.

Music played a major role that  day, as this New Yorker article explains: https://www.newyorker.com/culture/culture-desk/dream-songs-the-music-of-the-march-on-washington

Here she is, in the later ’60s, singing the civil rights anthem:

Among the star turns was…

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FRIEDMAN FRIDAY Milton Friedman’s FREE TO CHOOSE “How to cure inflation” Transcript and Video (60 Minutes)

The Daily Hatch

Milton Friedman’s FREE TO CHOOSE “How to cure inflation” Transcript and Video (60 Minutes)

Image result for milton friedman free to choose

In 1980 I read the book FREE TO CHOOSE by Milton Friedman and it really enlightened me a tremendous amount.  I suggest checking out these episodes and transcripts of Milton Friedman’s film series FREE TO CHOOSE: “The Failure of Socialism” and “What is wrong with our schools?”  and “Created Equal”  and  From Cradle to Grave, and – Power of the Market.“If we could just stop the printing presses, we would stop inflation,” Milton Friedman says in “How to Cure Inflation” from the Free To Choose series. Now as then, there is only one cause of inflation, and that is when governments print too much money. Milton explains why it is that politicians like inflation, and why wage and price controls are not solutions to the problem.

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Weed is not more dangerous than alcohol

Harry Anslinger | The Man Responsible for Marijuana’s Prohibition

Why Free Speech (even Hate Speech) is the best friend of the Oppressed – Jonathan Rauch

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