Benjamin Montgomery

Archive for September 2008

Interesting Links For 9/30/08

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Top links for today are…

  1. The Difference Between A Thief And A Politician: Its An Image
  2. 10 Ways To Stay Energized: Even if you’re a hyper-organized, task-oriented worker with an expansive mind and endless ambition, you won’t get a lot done if your mind and body are demanding you curl up and doze off. Luckily, you can overcome a late night of net surfing, a rough morning, or just the post-lunch stupor without becoming an over-wired mess.
  3. What Is Money, A Basic Economics Lesson From 1947: This ten-minute film takes its structure by following a single $5 bill as it circulates from person to person, being used in a variety of ways: to buy goods, to pay for services, to save in the bank. These transactions allow for a discussion of the history and nature of money.

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September 30, 2008 at 6:19 am

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Interesting Links For 9/29/08

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Top links for today are…

  1. As Capitalism Crumbles, U.S. Taxpayers Pick Up The Pieces: Americans are looking to this year’s presidential candidates, Barack Obama and John McCain, to save our financial system. How did we become so financially weak that we surrender our economic independence to politicians? Where does it say in the Constitution that the government should solve our financial problems?
  2. Greatest Touchdown Celebration Ever: Duck, duck goose…
  3. Sarah’s Smash Shack: Our goal is to allow people to let go, let loose and go home with a smile on their face.  The inspiration for the Smash Shack came to Sarah at an especially low point in her life.  She literally woke up one day and thought “I wish I could just go somewhere and break some things.  Hmmm…other people must feel this way, too.  I should open a shop where people can come and break stuff!”  And, so the Smash Shack was born.
  4. How The Bailout Really Works: Great Image
  5. Maybe The Greatest Catch In History: Link to video.
  6. 17 Online Free Web Based Apps That You Probably Love To Use: Today, we are listing 17 online free web based applications that are very helpful for you to process your daily work. Whether you are designer, developer, office worker, manager, supervisor, student, home user, etc. But we make sure to add something interesting for everyone. Most of them are not very well-known, but they are really amazing in respect to their features.

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September 29, 2008 at 7:12 am

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Stop The Bailout Or… Depression?

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This guy puts it in perspective.  As I haved stated before Trust is what drives our financial system.

To put it in terms of Sunday football.  Would you watch the NFL and have faith that it is fair if the referees were paid by the teams and favored the teams that paid them the most?

If the world loses faith in the fairness of the American economic system we will see a collapse that makes the Great Depression laughable.  It is essential that we fairly reward winners and losers and allow or economy (not politicians) the freedom to pick them.

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September 28, 2008 at 9:51 am

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What Is The Real Disease? It Matters…

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Is the root cause of the financial crisis house values falling or over valued houses?

It is essential to understand this distinction to know how to properly solve the problem.  Depending on which disease is diagnosed the country should prescribe 2 very different medicines.

If the problem is that house prices are falling then the solution is to make them more expensive.  The government would do this by inflating house prices and forcing people to buy them. This would be accomplished by injecting cash into the economy that can only be used to purchase houses. (the bailout)

If the problem is that houses were overvalued then the solution is to get them properly valued as quickly as possible.  The solution to this would be to do nothing.  Allow the market to correct itself and possibly remove the programs that allowed houses to get over valued in the first place. (no bailout)

In the first case the ones that would benefit are the people that own houses and mortgages that are overvalued.  In the second case the prudent investor that did not jump on the easy money train will be rewarded.

It is important to remember that every dollar spent on housing is a dollar that can not be spent on infrastructure, health care, education and defense.  It is not possible to have our cake and eat it too.

The questions are what sort of behavior should be rewarded?  And where is the most productive place for the dwindling capital that exists in our country?

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September 26, 2008 at 9:24 am

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504ward Launches $100,000+ Business Plan Competition

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Last night to a packed house at Tipitinas 504ward announced their business plan competition. The applications are do by 5:04 pm on December 4th.

Here are more details:

“One winner will be selected out of 5 finalists who are flown to New Orleans, if not already in the region. Three different committees will evaluate the applicants during various stages of the competition and the final decision will be made, in part, by an audience of 23-35 year olds in New Orleans.

Resources for winning entrepreneur:

1. $100,000 cash prize
2. Strategic business consulting and customized execution plan with The Idea Village
3. Professional services and resources (office space, web development, legal, marketing, website optimization, PR, advertising, etc.)”

All information can be found here.  Also they created an inspirational video that can be viewed below.

Written by benmont1981

September 26, 2008 at 7:43 am

Interesting Links For 9/26/08

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Top links for today are…

  1. Supporters Summit: October 31-November 1, 2008. Auburn, Alabama. Join Ron Paul, Judge Napolitano, and Pascal Salin! The Gold Standard Revisited From Menger to the present day, Austrians have favored sound money over government-manipulated paper currency. The very first Mises Institute conference in 1983 was on the gold standard. At the time, people said the idea was outmoded and that paper currency was working just fine. Here we are 25 years later, and it is not so.The dollar is in grave danger, the government is growing at the expense of society, and the business cycle has been unleashed with ferocity.
  2. Mark Jenkin’s Street Installations:  Interesting art installations on city streets.  Some of them are a little scary.
  3. Seven Blunders Of The World by Gandhi: Wealth without work. Politics without principle…
  4. Great Quote That Hits The Nail On The Head: So the plan is for the government to buy a whole bunch of garbage that the sellers don’t want to sell at a market price, hold on to this rotten junk while pumping more money into the economy to try and re-inflate the bubble, and sell them back at a ‘profit’ (as if the government is a productive business)? Oh yeah, and there’s going to be help for the ‘little guy’ and lord only knows…

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September 25, 2008 at 8:47 pm

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A Letter From The Good Congressman From Texas

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Dear Friends:

The financial meltdown the economists of the Austrian School predicted has arrived.

We are in this crisis because of an excess of artificially created credit at the hands of the Federal Reserve System. The solution being proposed? More artificial credit by the Federal Reserve. No liquidation of bad debt and malinvestment is to be allowed. By doing more of the same, we will only continue and intensify the distortions in our economy – all the capital misallocation, all the malinvestment – and prevent the market’s attempt to re-establish rational pricing of houses and other assets.

Last night the president addressed the nation about the financial crisis. There is no point in going through his remarks line by line, since I’d only be repeating what I’ve been saying over and over – not just for the past several days, but for years and even decades.

Still, at least a few observations are necessary.

The president assures us that his administration “is working with Congress to address the root cause behind much of the instability in our markets.” Care to take a guess at whether the Federal Reserve and its money creation spree were even mentioned?

We are told that “low interest rates” led to excessive borrowing, but we are not told how these low interest rates came about. They were a deliberate policy of the Federal Reserve. As always, artificially low interest rates distort the market. Entrepreneurs engage in malinvestments – investments that do not make sense in light of current resource availability, that occur in more temporally remote stages of the capital structure than the pattern of consumer demand can support, and that would not have been made at all if the interest rate had been permitted to tell the truth instead of being toyed with by the Fed.

Read the rest of this entry »

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September 25, 2008 at 3:15 pm

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