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Clif Sipe
Attended Wright State University
Lives in Ohio
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Clif Sipe

Questions/Issues for Discussion  - 
 
Chairman of the House Financial Committee expresses doubt about the Fed?

After admitting the Fed has created asset bubble that are beginning to pop, Hensarling admits that he does not have faith in the Fed.
Congressman Jeb Hensarling, chairman of the House Financial Services Committee, mentions Hayek's Fatal Conce
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Clif Sipe

Articles, Essays & Videos  - 
 
Has anyone here ever spoken with a person who has this viewpoint?
"... Capitalism alone is responsible for all the misery the world has had to endure in recent years ..."

That view is mentioned in this post - Socialism and the Battle of Ideas
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Clif Sipe

Memes & Quotes  - 
 
George Washington had some great quotes:
"Government is not reason, it is not eloquence, it is force; like fire, a troublesome servant and a fearful master. Never for a moment should it be left to irresponsible action."
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Clif Sipe

Questions/Issues for Discussion  - 
 
Is Ethanol on the way out? I doubt it. The political will to change directions does not exist, even when environmentalists can't fail to see the harm caused by ethanol subsidies and rules.
For years, the Iowa caucuses have been heavily influenced by the role of agriculture subsidies in the state in the form of ethanol subsidies.
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Clif Sipe

Questions/Issues for Discussion  - 
 
Political Arrogance? This year for sure ...
As usual, Stossel provides good examples why government can't do what it promises. He's afraid that our presidential candidates are going to end up bleeding out taxpayers and creating more problems, no matter who wins. I see no reason to disagree ...
http://creators.com/opinion/john-stossel/political-arrogance.html
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Clif Sipe

Articles, Essays & Videos  - 
 
The Federal Reserve is a Cancer
Thomas Sowell (one of my favorite economists) was a long-time supporter of the Federal Reserve (if it could be managed properly). In an interview in 2010, he called the Fed a "cancer" and advocated its abolition. Was it due to the influence of a popular libertarian speaker (Ron Paul)? In any case, it's always a pleasure to hear Sowell speak.

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Vėjas Plevėsavičius's profile photoZephyr López Cervilla's profile photoDr Mikko Arevuo's profile photo
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+Vėjas Plevėsavičius, I guess you mean central Europe. Eastern Europe is mostly Russia, Belarus, Ukraine, Georgia, Armenia and Azerbaijan. The only countries that are geographically in Eastern Europe that have entered the UE are the Baltic States (and Finland).

Ukraine is a bankrupt economy riddled with political corruption and victim of its government's bureaucracy and interventionism. They couldn't even afford to pay for the natural gas that the Russians used to "sell" them at a bargain price in exchange of a geostrategic alliance.

In the ranking of economic freedom of The Heritage Foundation, Ukraine is ranked in the 162nd position, right between Burma and Bolivia, and 19 positions below Russia:

«Ukraine’s economy remains “repressed.” The rule of law is particularly weak. The investment regime remains closed, with foreign investment competing with large state-owned enterprises. A rigid labor market and bureaucratic business regulations inhibit the development of a dynamic private sector.»

«In 2014, Ukraine accepted $30 billion in aid from the IMF, World Bank, EU, and other bilateral donors.»

«Pro-Western Ukrainians hoped their 2014 Euromaidan revolution would dismantle the oligarchic politics and deeply rooted cronyism that allowed business owners to amass wealth by exploiting their access to those in power rather than through efficient management, but that corrupt system is still largely in place under the Poroshenko government. The judiciary remains weak, and contracts may not be well enforced.»

«The total tax burden equals 38.9 percent of domestic income. Government spending amounts to 49 percent of GDP, and public debt equals 41 percent of domestic output. The IMF is helping to bolster public finances.»

«completing licensing requirements is still time-consuming. Modern and efficient bankruptcy procedures are not in place. The labor code is outmoded and lacks flexibility. Massive and price-skewing government subsidies (7 percent of GDP on natural gas subsidies alone) have caused deep economic distortions.»

«Bureaucratic requirements deter much-needed growth in private investment. The primarily cash-based economy suffers from a lack of sufficient capitalization. Nonperforming loans continue to be a drag on the banking system.»
heritage.org/index/country/ukraine 

To sum up, Ukraine is the Greece of Eastern Europe. If it isn't so indebted as Greece yet is just because they haven't found yet the propitiatory fool to lend them the money that they will dilapidate.

Those $30 billion in aid the they've been given and won't probably ever return represents about 30% of its nominal GDP:

«Ukraine will need additional bailout financing from outside the International Monetary Fund to keep the war-torn economy afloat, the head of the IMF said Thursday.

The cost of the conflict with Russia-backed separatists has changed the country’s cash needs since the IMF originally designed a $30 billion international bailout program in April, of which the fund pledged to cover $17 billion.»

«But economists outside the IMF say the funding requirement could be larger, and warn any overhaul of the IMF bailout program must include some sort of debt restructuring to ensure the country can return to economic health. The national elections later this month could provide the opportunity for a bailout overhaul, giving the lawmakers a chance to enact another round of politically tough economic policies that would help Kiev get a better grip on state finances. Those efforts could be reciprocated by additional international financing help.»
wsj.com/articles/ukraine-will-need-more-bailout-funding-imfs-lagarde-says-1412876378 

«Fund officials couldn’t say if such a scenario would overwhelm Kiev’s ability to pay its debts and force it into default. The IMF did say that more financing could be needed if the crisis wasn’t resolved in the coming months, more than double the $17 billion the fund has already promised Ukraine under the emergency bailout.»

The Institute of International Finance, an industry group representing the world’s largest private banks and other financial firms, warned as much even before the IMF signed off on the bailout deal.

Mr. Åslund suggests “an amicable restructuring” after the elections in October. The fund should use its 1991 program with Poland as a template: “They wrote off half the debt in return for a very strong stabilization and reform program,” he said.»
blogs.wsj.com/economics/2014/09/17/ukrainian-elections-may-ease-way-toward-bailout-overhaul 
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Clif Sipe

Articles, Essays & Videos  - 
 
I almost always grab a copy of any free book at Mises.org.
1. Where Keynes Went Wrong
2. Crony Capitalism in America
3. Free Prices Now!: Fixing the Economy by Abolishing the Fed 
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Clif Sipe

Questions/Issues for Discussion  - 
 
Socialism, whether "Democratic", "Dictatorial" or any combination is supposedly a sensible "third way" between Capitalism and Communism.

As an ethic some of this has a point--people who are well enough off ought to look out, in times of emergency, after those less fortunate than they are. But as politics it is vicious and intolerable because it isn't a matter of ethical choice but via government coercion that the behavior is supposed to be secured.
It's an illusion and a fraud that there is any stable system between productive capitalism and impoverishing socialism, argues Tibor Machan.
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Clif Sipe

Austrian Economics  - 
 
Good free ebook download for liberty aficionados.

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Clif Sipe

Questions/Issues for Discussion  - 
 
As usual, it is not difficult for Paul Krugman (NY Times pet economist) to line up the usual suspects and hang them In Absentia. His usual suspects include anyone who does not have a D after their name, or even worse, the maleficent forces of under-regulated markets.
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Clif Sipe

Austrian Economics  - 
 
Mises wrote one of the "classic" books defining liberal ideas in 1927. It was called "Liberalism", which had a different meaning to people back then. Click below to get your free PDF ebook.

The term "liberalism," from the Latin "liber" meaning "free," referred originally to the philosophy of freedom. It still retained this meaning in Europe when this book was written (1927) so that readers who opened its covers expected an analysis of the freedom philosophy of classical liberalism. Unfortunately, however, in recent decades, "liberalism" has come to mean something very different. The word has been taken over, especially in the United States, by philosophical socialists and used by them to refer to their government intervention and "welfare state" programs.

This is Mises's classic statement in defense of a free society, one of the last statements of the old liberal school and a text from which we can continue to learn. It has been the conscience of a global movement for liberty for 80 years.
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Clif Sipe

Questions/Issues for Discussion  - 
 
I lived through those years when Reagan was considered a monster by the left. He still has a good reputation on the right and with liberty minded people, but is it deserved? I don't think so ...
How "Small Government" was Reagan? His policies on Taxation and spending speak volumes.
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Story
Tagline
Editor, Blogger, Electronics Tech, Old Geek, Anarcho-Capitalist
Introduction
Now using Linux, however, I've spent years promoting Windows Freeware and Free information. Owner-Editor of FreewareWiki.com with over 2000 pages of freebies. Currently, I'm also the Managing Editor and a Contributor at Techie-Buzz.com, a popular blog about software technology and gadgets.
Bragging rights
Husband, Father of 2, Grandfather to 1, Libertarian, Skeptic
Education
  • Wright State University
    Electronics, 1994
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Male
Other names
clifnotes
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Managing Editor, Electronics Technician, Software Reviewer, Open Source lover, Blogger
Employment
  • Electronics Technician, Software Reviewer, Blogger, present
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Ohio
Previously
Illinois, Indiana, Ohio, Tennessee - Illinoise, Indiana, Tennessee, Ohio