Irresponsibility Is the Youth-Killer

There’s this myth in our culture that youth is a blank check to be irresponsible. “Have fun and cut loose a little,” older folks tell us, not without a little envy. But being young is not the opposite of being responsible. And to be carefree is not the same as to be irresponsible. In fact, irresponsibility is the youth-killer – the very reason that our older friends and family look and feel the part of the elderly before their time.

Jeffrey Herbener: Demystifying the Federal Reserve (26m)

This episode features an interview of economics professor and department chairman Jeffrey Herbener from 2016 by Jeff Deist, host of the Human Action podcast. They cover the basics of central bank mechanics: how commercial bank reserves are created, the difference between the monetary base and the money supply, and how the Fed Funds rate impacts lending and the structure of production. They consider how Austrian business cycle theory describes the distortions created by artificially low interest rates, and how interest rates ought to operate as price signals. Finally, they discuss how early recipients of newly created money and credit benefit in ways that ordinary citizens don’t.

The Shadow Factory

All units (individuals) have agenda.  Each human will try to attach her agenda to the agenda at the highest levels attainable — for instance, in The Shadow Factory, the top set of agenda is that of the White House (nominally authored by George W. Bush, truly by Dick Cheney), a lower but very high set of agenda for the NSA, expressed by and through General Mike Hayden.