The one-and-only “noteworthy” item in my Daily Business Noose – indicative of the Validity of Jean-Baptiste Say’s “Law of Markets” – a PILLAR of CLASSICAL LIBERAL POLITICAL ECONOMY which dates back to the 18th century – a Law of Markets that establishes The True Source of Market Demand – was a lament over “falling consumer spending” in India – and this MUST be “considered” alongside the noose that, following the rbi’s cuts in its “administered interest rates,” certain members of the BANKSTER-CARTEL have “lowered” the interest they charge for CAR LOANS – for there are MANY who will ONLY look at the latter noose and conclude “all will be well – soon” – for DEMAND will now receive a BOOST.
As in, “They REALLY Care About Us,” huh?
Before proceeding further, do watch this very short video of Murray Rothbard speaking on “The Uncompromising Ludwig von Mises” I was fortunate to find on EconomicPolicyJournal.com yesterday – and FOCUS on some of the “words” this Most Illustrious AMERICAN Student of Mises employs while discussing how, in Vienna of the 1920s, Mises, who had only just "Originated The Knowledge that Socialism was Impossible at a Time when Collectivism and Socialism were being ESTABLISHED in EUROPE" was “discriminated against,” and could not receive a salaried professorship, because his laissez faire opposition to collectivism, socialism, fascism and corporatism was considered “reactionary” and even “Neanderthal” – that Mises’ thoughts “belonged to the 19th century” – and that Marxists, socialists, welfarists, fascists, and corporatists were “The Wave of the Future” – which Rothbard calls "THE FINANCE CENTURY" - and ONLY “social scientists” and “economists” of this NEW WAVE received professorial appointments in Olde Europe – and ONLY these PROGRESSIVE ideologues were RESPECTABLE in European Academia then!
This was DECADES BEFORE HITLER – and the noose did say that this is the 80th anniversary of Hitler’s takeover of Germany – by the “democratic process”!
Hitler's "political party"? - The National Socialists - or "Na-Zi" - which is how Germans pronounce the letters "n" and "s."
Marx & Engels’ Communist Manifesto is dated 1848 – and Frederic Bastiat’s The Law (1850) is entirely based on CLASSICAL – or even ANCIENT – Western ideas on PROPERTY – as indicated by the very cover of Professor AR Hogue’s Origins of the Common Law pictured alongside.
Similarly, this Evil Immoralist KEYNES and his CORRUPT “General Theories” date back to only 1935 – which goes to PROVE-beyond-DOUBT that this prefix “neo” CANNOT be applied to the ideas of people-like-me – and that, just as they say, “Old is Gold” and, “Let History be our Guide” – it is High Time that all the wee the sheeple on The Planet looked upon these Purveyors of Deep Errors and Rank Falsities with the Contempt they Truly Deserve – and, among all such Purveyors of Deep Errors and Rank Falsities there is NONE so Very Evil as manmohan himself – what with his “political right” to “COMPULSORY misEDUCATION” – this Intellectual Bodyguard of the Houses of The Evil Nehru, Marx, and Keynes.
Now, the business noose is “worried” about the drop in consumer spending in India – as reflected in their “statistical data” – but THEORY is One Thing – and STATISTICS are nothing but HISTORY – which means we do NOT require ANY STATISTICAL DATA at all to ASSERT that Unless the Vast Majority comprising the Numberless Poor can Accumulate Private Capital Themselves, and thereby Improve or Raise their Own Production and Productivity, which will further raise their Incomes – without this, DEMAND CANNOT BE RAISED – and INFLATIONism is headed The Other Way – for it “penalises savers” while “subsidising borrowers” – which is CAPITAL CONSUMPTION – and what is Collective Capital Consumption on a Truly Colossal Scale but:
The Highway to Decivilisation.
Further, rising stock market indices caused by IMPORTS of the “monetary easings” of Other Central Banksters is NOT indicative of anything other than CONTINUED INFLATIONism – in this case, of certain “asset values” – and there are quite a few such “bubbles” to be SEEN today in India – all of which will surely EXPLODE-in-the-FACES of these NEO-THEORISTS – and all their Laboratory Experiments with Falsehoods are – let’s FACE IT! – FOREDOOMED to FAILURE.
On The Other Hand - actual IMPORTS of FOREIGN CAPITAL into brick-and-mortar REAL INVESTMENTS - in facilities that "employ labour alongside imported capital" in order to produce and then exchange goods and services OF ANY KIND - in a Free & Competitive Market that is INTERNATIONALISED - is EXCELLENT for the Very Same Reason outlined above - and it is this that The Combined Opposition is AGAINST, not that the Ruling Coalition has either "practised" this, or even "preached" its virtues either within Parliament - or in any outside fora, including the newspapers.
My own ToI column on the subject of FDI in "retail" - and retail alone - is dated 2005! - and all I sought to refute THEN was the phony political scaremongering then going on about how supermarkets would wipe out small shopkeepers.
Today, let me ADD that the "poorest worker" is NOT the small shopkeeper, but his "employee" - say, his "errand boy" - and such Big Foreign Investments will IMMEDIATELY RAISE the WAGES of ALL such errand boys - first, by BIDDING HIGHER for their "services"; and second, by employing their hard labour alongside their Own Big Capital, so such poor shopworkers of today, employed by small shopkeepers, performing their errands perhaps ON FOOT, will be employed in FUTURISTIC SURROUNDS, using COMPUTERS and BARCODE readers, DRIVING TROLLEYS to load-and-unload, and even Big Delivery Trucks complete with air-conditioned Drivers' Cabins, and so on and so forth, ad infinitum, ad ecstasium!
One must also add that, if FREE FDI INFLOWS into retailing will RAISE WAGES for all the poorest-of-the-poorest errand boys of small shopkeepers by not only BIDDING higher for their services, but ALSO by employing them such that they are able to combine their labour with ALL THEIR HUMUNGOUS CAPITAL GOODS – it is then an INESCAPABLE LOGICAL CONCLUSION that the WAGES of ALL OTHER WORKERS will ALSO RISE – even if they REMAIN stuck in primitive modes of employment, simply because there will be LESS of such Free Workers available for all these primitive modes of employment.
It logically follows that ALL FDI ought to be LIBERATED – for the benefit of the Vast Majority of Poor Workers – that this faux concern for small shopkeepers in as faux as can ever be possibly IMAGINED from socialist “representatives of workers & peasants” – and, further, that these HUMUNGOUS “injections” of FII “funds” into our stock markets is Yet Another False Flag – that the State-Owned Economists and Managers of the National Economy are engaged in the PATENTLY ANTINATIONAL activity of IMPORTING INFLATION – which, if they did NOT, would surely cause HUMUNGOUS INFLATION in the USSA, the EUSSR, and in Japan as well.
Or, in other words:
ALL THE WORLD’s CENTRAL BANKSTERS are engaged in COORDINATED DEVALUATIONISM in which the poorest-of-the-poorest in the world’s poorest national-socialist-protectionist nation-states are INJURED the MOST – because this is also yet another of their NEGATIVE-SUM POLITICAL GAMES.
I do NOT play any games – nor do I watch any games – for these are all “pastimes” and I do NOT possess ANY TIME for such pastimes – as I wrote in this post AGAINST the “teaching” of this Game Theory NONSENSE to students of Economics – WORLDWIDE!
THE POWER OF PRIVATE MONEY - is something YOU can THINK about from these concluding lines of my old column advocating "A Return to the Gold Standard":
Any nation can unilaterally revert to the gold standard whenever it chooses. If we do so, our rupee, now pegged to gold, will always appreciate against the rest of the world’s fiat papers. This will help us become big importers. And cheap imports, including of capital goods and components, will make our manufactured exports competitive in terms of technology, quality and price. Our banks will attract the world’s savings, and we will possess capital, the vital ingredient of “capitalism”. All prices will steadily fall and the consumption of the poor will rise in leaps and bounds. This is the power of “sound money”.
Thus, this POLITICO-BUREAUCratIC INTERVENTIONism is "working contrary to its stated purpose" - a conclusion that applies to ALL such STATE INTERVENTIONS: I repeat, ALL - and there is this long post in which I actually went through them ALL as in A Demolition Derby!
Therefore, what they are ACTUALLY DOING is BEST characterised by paraphrasing something that Doordarshan used to announce every 15 minutes in the Bad Old Days of india-is-indira:
Rukawat ke Liye Khed NAHI Hai!
Which means that in My Opinion YOU should be SHOUTING, YELLING, and HOWLING:
Aur Garibi Apney Aap Hutt Jayegi!
There is thus No Other Path for humanity than the Old, Tried & Tested by Time Path – of Gold, of Private Capital Accumulation, of Self-Help and Self-Protection, Self-Responsibility under The Eternal, Unchanging, and Unchangeable Private Laws of Private Property, Private Contracts and Private Torts – which are based on the Liberty to Create Property – and the Liberty to Defend what is One’s Own – the First of which is One’s Own Body & Soul – or “Conscience” - and as for WELFARISM – it dates back to Germany’s previous “Iron Chancellor” Bismarck and the 1880s – and the tax-parasite “Socialists of The Chair” that took over all German univershitties then ALSO removed all “classical REPUBLICAN texts” from German Schools!
STATE EDUCATION then proceeded - with STATE WELFARE - in Bismarck's Germany - for the Very FIRST Time in the Entire World, then.
Bismarck's "Socialists of The Chair" - they PAVED THE WAY for HITLER - and it was Mises who called them, "The Intellectual Bodyguards of the House of Hohenzollern."
If wee the most fuck-up poorest-of-the-poorest SHEEPLE on The Planet do NOT wish to see this Ugly History REPEAT ITSELF – then, at least “I” MUST remain Forever Uncompromising.
Of course, William Harold Hutt’s Politically Impossible is the One Book I recommend to ALL who wish to call themselves “economists” in the precise SCIENTIFIC sense – which means:
Politics MUST Needs Adjust its Own Conduct to Scientific Laws.
And, as Good Ol' Bastiat affirmed:
There is Only One Solution:
The Progressive ENLIGHTENMENT of MANKIND.
Hence - My Tireless Efforts to Re-Educate PUBLIC OPINION - so that ALL "know" where their "right interests" lie.
After which, as ALL knew Aeons Ago, in a Classical Tongue, that too: