lgstarr: Markets hold breath as China's shadow banking grinds to a halt

Tuesday, March 11, 2014

Markets hold breath as China's shadow banking grinds to a halt

Out of the shadows and into...a crash?

A slew of shockingly weak data from China and Japan has led to a sharp sell-off in Asian stock markets and the biggest one-day crash in iron ore prices since the Lehman crisis, calling into question the strength of the global recovery.

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The difference between Conservatives and Liberals

by Mark Levin (author, radio talk show host; constitutional scholar)
We believe in civil society, they believe in the federal leviathan.
We believe in education, they believe in indoctrination.
We believe in liberty, they believe in a growing authoritarianism.
We believe in the moral order, they believe in situational ethics.
We believe in the rights of man, they believe in the power of government.
We believe in real science, they believe in social science.
We believe in cultural stability, they believe in constant transformation.
We believe in eternal truths, they believe in ideological social engineering.
We believe in separation of powers, they believe in the administrative state.
We believe in prosperity, they believe in redistribution.
We believe in private property, they believe in collectivism.
We believe in individualism, they believe in conformity.
We believe in the Constitution, they believe in centralism.

Late Justice Antonin Scalia: On the existence of the Devil

"You're looking at me as though I'm weird. My god! Are you so out of touch with most of America, most of which believes in the devil? I mean, Jesus Christ believed in the devil! It's in the Gospels! You travel in circles that are so, so removed from mainstream America that you are appalled that anybody would believe in the devil! Most of mankind has believed in the devil, for all of history. Many more intelligent people than you or me have believed in the devil."

SOURCE: NY Mag (page 4):

http://nymag.com/news/features/antonin-scalia-2013-10/

Ludwig von Mises

"The champions of socialism call themselves progressives, but they recommend a system which is characterized by rigid observance of routine and by a resistance to every kind of improvement. They call themselves liberals, but they are intent upon abolishing liberty. They call themselves democrats, but they yearn for dictatorship. They call themselves revolutionaries, but they want to make the government omnipotent. They promise the blessings of the Garden of Eden, but they plan to transform the world into a gigantic post office. Every man but one a subordinate clerk in a bureau. What an alluring utopia! What a noble cause to fight!" --Ludwig von Mises (Bureaucracy, 1944. Yale University Press. 1969, New Rochelle, NY: Arlington House)

Ludwig von Mises

"Political ideas that have dominated the public mind for decades cannot be refuted through rational arguments, they must run their course in life and cannot collapse otherwise than in great catastrophe."

"A man who chooses between drinking a glass of milk and a glass of a solution of potassium cyanide does not choose between two beverages; he chooses between life and death. A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings." --Ludwig von Mises, writing in Human Action

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Tuesday, March 11, 2014

Markets hold breath as China's shadow banking grinds to a halt

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