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Afghan Govt: NATO War 'Aimless and Unwise'
Lashes NATO Charges of Ingratitude
NATO Secretary-General Anders Fogh Rasmussen faulted the Afghan government and the people living under NATO occupation in Afghanistan, saying they need to be more grateful for the "sacrifices" the alliance has made in spending over a decade conquering their nation.
Despite opposition figures expressing concern that the continued public criticism of the occupation is costing Afghan businesses foreign investment, the Karzai government responded by slamming the continuation of the war, and insisting NATO is acting in an "aimless and unwise" manner.
Rasmussen's condemnations follow occupation leader Gen. Joseph Dunford's claims to be "working" to resolve Karzai's issues with the war, including a recent CIA offensive against a college, that ended with them kidnapping and torturing an engineering student.
Karzai has also insisted his criticisms were only intended to "correct" serious problems with the occupation, but with so much momentum in NATO behind claiming "progress" in the war and shrugging off any allegations of failure as lies, it is unlikely any serious policy changes will be made in the near-term, while pointing out NATO's failures is simply going to annoy them.
Last 5 posts by Jason Ditz
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Five Excellent Internet Marketing Strategies You Should ConsiderPosted by erikemanuelli under Online Marketing
From http://www.fillmymoneybox.com 1151 days ago
Made Hot by: justretweet on May 7, 2013 8:55 am
For those who have already started an online business, we have five great internet marketing strategies explained in this article.
Who Voted for this Story
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Written by AngelBiz
1150 days ago
1150 days ago
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Written by erikemanuelli
1150 days ago
1150 days ago
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Local News
Southeastern Illinois Man Arrested for Barricading Himself and Kids Inside Home
11/26/2012 @ 12:06 PMMount Carmel, IL -- A man in southeastern Illinois is in custody after he barricades himself inside a home and refuses to let two children leave. Police in Mount Carmel in Wabash County arrested Christopher Cash late Saturday night. He allegedly pushed his girlfriend out of her home and refused to turn over her kids. A 12-hour standoff ensued before an Illinois State Police Tactical Response team negotiated with Cash to relinquish the kids and give up. No one was injured.
See other LocalNews news:Illinois Legislature Passes Partial Budget
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Education Leaders Rally for Equity Now in K-12 Budget


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Relevant offers
Team Taranaki dominated a spirited Red Sox side to score a 5-1 away victory at Palmerston North on Saturday.
The convincing win kept Team Taranaki on top of the leaderboard in the Federation League after two games of the second round.
Closest rivals Wanganui Athletic, who are two points back, won their match on Saturday against Havelock North 1-0.
Red Sox started the game brightly and were enterprising when on attack, but not for long.
Patrick Hay capitalised on a home side's error midway through the first half to tuck away the simplest of chances at the second attempt, after the goalkeeper made a decent first save.
A bad pass between two Red Sox defenders resulted in a turnover of possession and a quick through ball from Domenico Squatriti found Hay unmarked and his pace got him quickly free of the defender to punish the home team.
Hayden Murray thought that he had extended the lead shortly afterwards only to have his tap in from two metres ruled out for an apparent offside decision which mystified most onlookers. The only other chance of note came from the same combination that created the first goal. Squatriti again turning provider with an accurate through ball to release Hay who pulled the ball back from the byline only to see a scrambling defender clear the ball off the toe of the incoming Ash Reader-Nokes.
A change of tactics by Team Taranaki at halftime paid dividends almost immediately after the restart. The message was to get the ball into the penalty area quicker and more often to pressure the Red Sox defence and early into the second half.
Team Taranaki scored not just one, but two quick goals to extend the score line to 3-0 and reflect a dominant position in the game.
Reader-Nokes was the first to take advantage, sneaking in front of the goalkeeper and defender to slip the ball over the line from close range after a deep cross by Morgan Hall and Hayden Murray added the third with a well-controlled side foot volley at the back post after another deep cross from left back Sam Sutton.
"It was a simple change of emphasis," said Team Taranaki coach Ian McGrath."We were trying to be too intricate on a rough pitch against a spirited team.
"They were happy to defend when we were playing in front of them, but on the odd occasion we played the ball into the penalty area they looked shaky."
Livewire Team Taranaki striker Squatriti also got in on the act, curling a low side footed shot into the bottom corner to make it 4-0 and adding a fifth, which he stabbed in from close range.
In a purple patch in front of goal, Squatriti was unlucky not to grab his hat-trick from two more excellent chances that he created for himself.
Red Sox took advantage of a favourable offside decision to score a late consolation goal to leave the final score at 5-1 and reflect a dominant second half performance and a comfortable victory in the end.
Squatriti was the standout player of the match with his tireless running and excellent finishing.
"He was both a goal provider and a goal scorer and really did deserve to get a hat-trick, but it was not to be," McGrath said.
- Taranaki Daily News
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How will the Hurricanes do in 2015?Related story: Supporting players light up Hurricanes bright start to Super Rugby season
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10 free activities to see and do in the UK
Here in the UK we can't resist a freebie and whether you're looking for music, museums or markets, we'll proveRead more
Here in the UK we can't resist a freebie and whether you're looking for music, museums or markets, we'll proveRead more
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Super Rugby
All Blacks heavyweights Dan Carter, Kieran Read and Sam Whitelock will make their Super Rugby preseason debuts for the Crusaders in Thursday night's clash with the Waratahs in Sydney.
Coach Todd Blackadder has been keeping a lot of his gunpowder dry over the first couple of trials but has decided it's time to bring out some of his heavy artillery.
Read takes over the captaincy at No 8 while Whitelock partners fellow All Black Luke Romano in the second row and Carter takes over the playmaker's role at No 10.
Former All Blacks tight forwards Corey Flynn and Tom Donnelly are also set for their first involvement of the summer matches, coming into the mix via the bench.
Crusaders: Israel Dagg, Adam Whitelock, Robbie Fruean, Ryan Crotty, Johnny McNicholl, Dan Carter, Andy Ellis, Kieran Read (c), Matt Todd, George Whitelock, Sam Whitelock, Luke Romano, Owen Franks, Ben Funnell, Wyatt Crocket. Reserves: Codie Taylor, Joe Moody, Dominic Bird, Luke Whitelock, Willi Heinz, Tom Taylor, Tom Marshall, Telusa Veianu, Shane Christie, Tom Donnelly, Corey Flynn.
- Stuff
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Golden Globes 2014: Jennifer Lawrence Is Best Supporting Actress, 'Ordinary Love' Wins Original Song
First winners have been announced at the 71st Annual Golden Globe Awards. Jennifer Lawrence brought home Best Supporting Actress in a Motion Picture trophy for her work in "American Hustle". She beat other actresses such as Sally Hawkins with her movie "Blue Jasmine", Lupita Nyong'O with her historical flick "12 Years a Slave", Julia Roberts for "August: Osage County" and June Squibb with "Nebraska".
After receiving her trophy, Lawrence thanked director David O. Russell and said, "I actually did watch all the films this year - well, not all of them, but you know what I mean. So I can say that the women tonight, it's such an honor to be nominated with you." The 23-year-old star, who apparently was nervous on stage, added, "I don't know why this is so terrifying; it's obviously a good thing. I don't know why I'm so scared. I'm sorry."
Following announcements for the winners in TV categories, the trophy for Best Original Score in a Motion Picture was handed to Alex Ebert for his work in "All is Lost". Other nominees in the category included Alex Heffes ("Mandela: Long Walk to Freedom"), Steven Price ("Gravity"), John Williams ("The Book Thief") and Hans Zimmer ("12 Years a Slave").
Shortly after, Best Original Song went to U2's "Ordinary Love" for "Mandela: Long Walk To Freedom". Bono took the stage and paid tribute to Nelson Mandela, calling the beloved figure the "man who refuses to hate" before mentioning that the award was "really personal, for us."
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- Pregnant Blac Chyna Gets Striptease From Mariah Carey's Dancer on Vegas Stage


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In addition, Square Enix will be re-activating the accounts of all past subscribers so you can try out this content for free between December 10th and 23rd. Not only that, but a free trial of the Ultimate Collection: Seeker's Edition is available between now and December 23rd. You can find more info and downloads, on these two campaigns here.
Darksiders II June 26 • 9:00am PDT/12:00pm EDT
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Grandia II Continues! Every Wednesday • 2:00pm PDT/5:00pm EDT


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Reliance Hiring For Telesales Executive - For Insurance Sales
Secunderabad, Andhra Pradesh - Rs. 1,00,000-1,25,000 per year
Urgent Requirement Reliance For Voice Process
Reliance General Insurance Company Limited - Hyderabad, Andhra Pradesh
Direct Reliance company hiring for - Insurance Sales -BPO.
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General Insurance, Insurance Sales, Telecalling, telesales
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Reliance - Conducting Interview -On 27th Jun'16 - Hurry up
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AVQ Configuration Manager
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Colfax Chinese Delivery
1. Oriental WokMenu
Good place, although it gets a bit packed and hectic during the lunch rush. Their Tiny Spicy Chicken is indeed famous, but what I find out of this …
2. Chinese Kitchen
The food is always served generously at a reasonable price. The decor is nothing special, but we always know this is where we find our favorite Chin…
3. China Queen Buffet
I've never been here, but any buffet that cost less than $10 for dinner is definitely a worth eat. I don't know about you, but people don't get sic…
4. Peking Restaurant
3914 Jackson Street ExtAlexandria, LA 71303
5. Anchors
Great food, excellent selection, convenient location. And the portions are HUGE! Give it a shot for lunch as well.
6. Famous Wok
3437 Masonic Dr Ste 1206Alexandria, LA 71301
7. Genghis Mongolian Grill
2977 Highway 28 EPineville, LA 71360
8. Khan's Mongolian Grill
Love being able to pick my own ingredients from the buffet. Good selection of sauces, & seasonings available. Can select several types of rice or n…
9. Phoenix Buffet
The costs are certainly reasonable. I ate here with a co-worker Tuesday. For Chinese food, this was superb! You'll love this place. The food is extr…
10. Panda RestaurantMenu
this place is awesome..... they got some sweet trim working there and the food is great!!!!
Showing1-10 of 10results


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Let's take a cakey adventure together!
Let's take a cakey adventure together!
These three bears look mighty comfy in their perfect bed of rice that is not too hot or too cold. I would eat them right up!
Now that I'm getting older and slowing down a little (LIES!) and not raging six nights a week like I once did, I can imagine eating bright green donuts shaped like sweet little bears without feeling queasy in the least. There was a time when even the hint of breakfast would send me wretching. I'm happy to be able to appreciate the cuteness and whimsy of green icing.
You guys, that big giant thing at the bottom isn't a table, it's a coin. Those chocolate bears are almost invisibly small! Squee!
If only every teacup came with an expectant little bear faces. Don't worry bears, I'll give you a lovely warm home in my belly where you can hang out with your friends roast chicken, potatoes and kale. It will be nice to see them again won't it?


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Common Sense (https://www.commonsensemedia.org/) is the nation's leading independent nonprofit organization devoted to helping kids and families thrive in a world of media and technology. Every day, millions of families turn to Common Sense for trusted advice and unbiased6/6/2016 San Francisco, CA Save This Job
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Department:Giant Media Location:Los Angeles # of openings:1 Description DEPARTMENT OVERVIEW Giant Media (a division of Adknowledge) is one of the fastest growing native advertising companies in the world, offering end-to-end native advertising solutions for numerous ?A? list5/29/2016 Los Angeles, CA Save This Job
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Sunnyvale, CA Overview Azul Systems is an enterprise software company based in Sunnyvale, CA. Our Java runtime products power some of the world?s most demanding applications, including financial trading systems, eCommerce and travel sites, and a variety of Big Data and5/22/2016 Sunnyvale, CA Save This Job
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Departments: University Locations: Menlo Park, CA (HQ), San Francisco, CA At Delphix, we are solving hard and interesting technical problems, have great mentorship, and have an amazing engineering-driven culture. And we are looking for the next generation of programming5/18/2016 Menlo Park, CA Save This Job
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Just wondering how easy of a med it is to tolerate. I usually don't have problems with meds, but I've never taken Malarone and wondered if it was as easy to tolerate (ie not big problems with side effects) as the travel doc says it is.
Recent ActivityView all Asia activity »
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- 10 6 days itinerary advise - which company to book ?
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- 22 Six months in Inchoen / South Korea
- 23 3 day tours from Bangkok
- 24 In Seoul for one day
- 25 20 Days In Japan: We survived Sakura!
Has anyone taken Malarone (malaria prophylaxis)?
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My husband and I took it for almost a month without any noticeable side effects for our recent trip to India. He's often sensitive to meds, so if he's not having any reactions, I'm willing to bet you'll be fine!
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I had stomach problems with it but I think I am in the minority. Most seem to cope with it rather well...
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I have taken it. No side effects. The chloroquine, on the other hand, makes my ears ring.
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we have taken it many times with zero problems
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I'm taking it right now and have for the past couple of weeks. No problems at all.
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I took it on two trips to Ghana in 2003/2004 and 2004/2005 and I felt a bit out of it and had an upset stomach for a while. I also had weird dreams a few times and can still remember them to this day. But, other than that I did quite well on it.
Happy Travels!
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Taking it now without any noticeable effects. Larium, otoh, made me a little bit crazy.
Comment has been removed by Fodor's moderators
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Most people tolerate Malarone with no side effects. The rare GI side effect is the usual one. Be sure to take it with food. We usually take it to breakfast with us, and half way thru the meal take it. There should be no " dream" side effects from Malarone as that is part of what they changed from the old drugs. It may take your system a day or so to adjust to taking any new medication. Give it a chance. Enjoy your tr.
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Thanks for the replies!
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Malarone is our anti-malarial of choice. We take it every time we are going to malarial-risk areas.
It is the newest anti-malarial, and the one with the fewest side effects. That said, everyone is different.
As Karen says, take it with food. It needs a constant blood level to be effective, so take it at the asme time each day. We always take it with breakfast, and that is easy for us to remember. Also, one of the components is fat-soluable, so take with with something that contains fat, like a full-fat yogurt.
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I've taken it for several weeks at a time, and the only side effect I've noticed is that I become less attractive to mosquitoes (they usually head straight for me). Lariam, on the other hand, I abandoned after one pill turned me (temporarily, I swear) paranoid.
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We've taken Malarone three times (SE Asia, Kenya, India). Our travel doc told us that the key to no stomach issues is to take it on a super-full stomach after dinner, rather than earlier in the day. This worked well for four of us.
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Written on: 06/12/2013
just bought a 5 wood from this company of ebay the club was sold as reg flex it turned out to be a-flex i am contacting the company tomorrow to see what they will do for me on this point, watch this space.
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Site nagivation
"The good of the grace of one soul is greater than the good of the nature of the whole universe"
- St Thomas Aquinas Ia IIa, q.24, a. 3, ad 2
by Reginald Garrigou-Lagrange, O. P.
The Mystery And Fact Of The Incarnation
"The more you know and the better you understand, the more severely will you be judged, unless your life is also the more holy. Do not be proud, therefore, because of your learning or skill. Rather, fear because of the talent given you." Thomas à Kempis
* * *
"What good does it do to speak learnedly about the Trinity if, lacking humility, you displease the Trinity? Indeed it is not learning that makes a man holy and just, but a virtuous life makes him pleasing to God. " Thomas à Kempis
"Many words do not satisfy the soul; but a good life eases the mind and a clean conscience inspires great trust in God." Thomas à Kempis


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Rutherford confident for India test after century
Relevant offers
Hamish Rutherford will head into the first test against India starting on Thursday in Auckland with plenty of confidence after racking up a century for the Otago Volts on day two of their four-day Plunket Shield match against Auckland yesterday.
In response to Auckland's first innings total of 467 Rutherford led the Otago charge with the New Zealand test opener striking 108 off 107 balls in a knock which included 14 fours and six sixes before he was caught and bowled by spinner Bruce Martin.
Rutherford and fellow opener Redmond set the tone early in their chase when they notched up 55 in just 10.4 overs for the first week before Redmond went for 31.
Michael Bracewell then went cheaply and Rutherford was the third wicket to fall with the score at 169 on the back of his 108.
Otago finished the day 280 for four with Brad Rodden (34*) and Sam Wells (62*) the not out batsmen.
They will resume on day three today trailing by 188 runs with six wickets in hand.
AUCKLAND ACES First Innings
JA Raval lbw b BP Rodden 22
AK Kitchen c N Wagner b SR Wells 64
Craig Cachopa c HD Rutherford b N Wagner 25
C Munro c SR Wells b N Wagner 156
C de Grandhomme c DC de Boorder b N Wagner 83
GJ Hopkins lbw b JA Duffy 4
D Grobbelaar c MD Craig b BP Rodden 13
BP Martin b JA Duffy 26
MD Bates not out 48
LH Ferguson c HD Rutherford b MD Craig 9
Bhupinder Singh c HD Rutherford b MD Craig 2
Extras (b 1, lb 6, nb 8) 15
Total (for 10 wickets, 118.5 overs) 467
Fall: 1-63 (JA Raval, 21.2), 2-104 (AK Kitchen, 35.3), 3-150 (Craig Cachopa, 48.3), 4-343 (C de Grandhomme, 80.6), 5-360 (C Munro, 82.5), 6-365 (GJ Hopkins, 83.4), 7-392 (D Grobbelaar, 92.3), 8-426 (BP Martin, 107.1), 9-445 (LH Ferguson, 114.2), 10-467 (Bhupinder Singh, 118.5)
Bowling: N Wagner 25-8-85-3 (2nb), JA Duffy 24-5-84-2 (2nb), SR Wells 28-6-98-1, BP Rodden 15-4-50-2, MD Craig 17.5-2-92-2 (4nb), NB Beard 9-1-51-0
OTAGO VOLTS First Innings
AJ Redmond c AK Kitchen b BP Martin 31
HD Rutherford c & b BP Martin 108
MG Bracewell c Craig Cachopa b BP Martin 3
NT Broom c C Munro b Bhupinder Singh 28
BP Rodden not out 34
SR Wells not out 62
Extras (b 4, lb 4, wd 1, nb 5) 14
Total (for 4 wickets, 75.0 overs) 280
Fall: 1-55 (AJ Redmond, 10.4), 2-88 (MG Bracewell, 16.2), 3-169 (HD Rutherford, 32.4), 4-177 (NT Broom, 35.5)
Bowling: MD Bates 14-3-29-0 (1nb), LH Ferguson 2-0-21-0, C de Grandhomme 11-1-43-0, BP Martin 27-4-96-3 (1w, 2nb), Bhupinder Singh 21-4-83-1 (2nb)
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New drive-through Subway opening in Invercargill
Man dressed as woman allegedly assaults another man in Dunedin


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It's a tee. It's a dress. It's the new Graphic T-shirt Dress.
This image of an old Jalopy was created using mixed media.
Shot using a Lumix 12×. Over 260 views. Ten features.
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Congratulations!! You have been featured in the Cee's Fun Vintage Transportation group (clickable banner)Please check out our Challenges
Thank you Cee. Jerry
CONGRATS on your Feature in CEEs!!!! honored to be among you… AWESOME Image!! :)))
Thank you Debbie. Jerry
Very cool image Jerry! Nice work.
I love this car too. Thanks for your comment. Jerry
★(¯`·.·´¯) (¯`·.·´¯)`·.¸(¯`·.·´¯)¸ .·×°× ` ·.¸.·´ ×°×*Congratulations On your feature Wonderful picture nice clartity and detail nice focus and framing Nicely done and presented Gotta luv those old cars and we do lol hugs*
Thank you for the feature. I appreciate it. Jerry
Gorgeous work!
Thank you Tracy. Jerry
Where it is taken
this photo was taken in San Antonio, Texas. Thanks Jerry
Thank you for the feature. Jerry
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Observations for Houston/Galveston Bay PORTS 2016-06-30 12:32:55 CDT
Water levels are steady at all four reporting stations, with readings between 1.2 and 1.9 feet. Levels are above predictions by up to 0.7 feet at Eagle P and Pie.
Current speed is 0.3 knots at Fred Hartman Br., Houston Ship Channel and 0.4 knots at Bay Entr Ch LB 11, with no trend data available.
Reported winds are generally from the east, between 6 and 8 knots with gusts to 11 knots.
Reported air temperatures are in the low to mid 80s °F, and reported water temperatures are within the 80s °F.
Barometric pressure is rising at all four reporting stations, with readings between 1013.1 and 1015.1 mb.


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Jewelry Handbook: How to Select, Wear and Care for Jewelryby Renée Newman
The Jewelry Handbook is a full-color guide to selecting, wearing, understanding and caring for jewelry. Written for professionals and lay people, it outlines the benefits and drawbacks of the various setting styles, mountings, chains, and metals such as gold, silver, platinum, palladium, titanium, stainless steel and tungsten. This book is like a Jewelry 101 course on the fundamentals of necklaces, chains, clasps, bracelets, rings, earrings, brooches, pins, clips, manufacturing methods, finishes, settings and jewelry selection and care. The Jewelry Handbook also provides information and color photos on gemstones, birthstones, and fineness marks and helps you select versatile, durable jewelry that flatters your features. If you'd like to look good in your jewelry and be a smart buyer, consult the Jewelry Handbook.
Product Details
- 9780929975382
- Publisher:
- International Jewelry Publications
- Publication date:
- 09/09/2007
- Series:
- Newman Gem and Jewelry Series
- Pages:
- 177
- Product dimensions:
- 5.90(w) x 8.90(h) x 0.40(d)
Customer Reviews
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Bolivia: children clash with police over child labour
| updated at xx
Police in La Paz took a heavy hand in dealing with protesting children as Bolivia's lawmakers debated banning child labour.
A new code is being written making it illegal for under 14-year-olds to work.
But many youngsters say they help support their families and want to work providing its not forced labour.
In the end national assembly members refused their request for a rewrite to the code.
- 1Dozens are killed and wounded in multiple suicide bomb attacks on Istanbul's Ataturk airport
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- 3Suspected ISIL bombers kill 36 and wound dozens at Istanbul airport
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- 5Feisty Farage tells MEPs 'You're not laughing now'
Latest world news
Putin rejects new arms race and builds bridges with Turkey
UK: who are the Famous Five?
Brussels summit closes with questions on how the European Union will function in the future in the wake of Brexit
Istanbul attack: suspected bombers 'from Russia, Uzbekistan and Kyrgyzstan'
Boris Johnson pulls out of race to be UK PM
Wires > News
- 17:57 CET Istanbul airport bombers were Russian, Uzbek, Kyrgyz – Turkish…
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- 16:55 CET British American Tobacco vows to investigate child workers in…


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"First they ignore you, then they ridicule you, then they fight you, and then you win." Mahatma Gandhi
Bloomberg Releases an Unqualified Smear – A Good Sign?
We have previously remarked on the extremely poor quality of Bloomberg's editing, mainly in the context of the site's ongoing rape of the English language in its headlines. However, the quality of its editing processes has reached a new low when an unqualified and in places truly vile smear of the Austrian School of Economics recently slipped past its editors. Initially we didn't plan to comment on it, simply because, as the Daily Bell has put it, "one doesn't even know where to begin". However, so many people have in the meantime mailed us the piece or a link to it that we feel compelled to address the article in a blog post.
The contributions of the Austrian School to the science of economics are as numerous as they are profound. Carl Menger contributed the theory of marginal utility (Jevons and Walras developed the same idea independently around the same time, so Menger wasn't the sole originator), and a body of theory on value and prices that corrected many of the most glaring and profound errors of the classical economists. Incidentally, Menger also provided a sound explanation of the origin of money. Eugen von Böhm-Bawerk then followed in his footsteps with a highly advanced theory of interest and capital that inspired generations of successors.
In 1912, an at the time not yet widely known economist and pupil of Böhm-Bawerk by the name of Ludwig von Mises published "Die Theorie des Geldes und der Umlaufsmittel" (The Theory of Money and Credit), which established him overnight as Europe's foremost monetary theorist. To this day Mises' book must be regarded as the definitive work on money and credit, a work that has stood the test of time. Mises then published his seminal monograph "Economic Calculation in the Socialist Commonwealth", which sparked the socialist calculation debate that raged with great intensity until the mid 1940s. Remarkably, the debate is still ongoing, in spite of the fact that Mises' contentions were never refuted, and in spite of the fact that he has been proved right "in spades" by the economic disintegration of the Soviet command economies in the late 1980s. Two years later, Mises Published "Socialism – an Economic and Sociological Analysis", which is one of the most profound and encompassing critiques of socialism ever written.
While working on his opus magnum "Nationalökonomie" (1938) – a treatise on economics that became better known in its revised English version as "Human Action" (1949), Mises published numerous articles in journals, many of which dealt with the systematization of the epistemological and methodological problems of economics. These remain a major bone of contention setting the Austrian school apart from other economic schools. Readers won't be surprised that we are siding with the view that economics is not a science like physics and that the attempts to make it so have led the entire science astray.
Friedrich A. Hayek, building on the works of Mises, provided outstanding contributions to capital and production theory (e.g. "Prices and Production", "The Pure Theory of Capital" and numerous articles in economic journals), and later expanded the scope of Austrian theorizing with his writings on the nature of knowledge and entrepreneurship (see e.g. his famous essay "The Use of Knowledge in Society"). Hayek even received a Nobel Prize in Economics in 1974, in one of the few nods the establishment has given to Austrian economics (not that this really matters, we only mention it for the sake of completeness: Hayek's Nobel lecture "The Pretense of Knowledge" in which he condemned the "scientism" of modern economics is certainly worth reading though).
Richard von Strigl, one of the few economists who didn't flee Vienna (but certainly fell silent after the Nazi takeover) as a teacher not only greatly influenced Hayek, Machlup, Haberler, Morgenstern and many others, but left us with a unique contribution to capital theory with his work "Capital and Production" (1934).
We could continue this list up to the present, but in the interest of brevity, want to only mention Rothbard's excellent sweeping economic treatise "Man, Economy and State" (1962; in Joseph Salerno's words "a milestone in the development of sound economic theory, […] that rescued the science from self-destruction") which presented a systematic and complete theory of production, as well as a unique and important revision of the theory of monopoly.
Well, scratch all that. These people were "infested by alien brain worms" according to the smear published at Bloomberg. The author, one Noah Smith, evidently knows nothing about Austrian economics – and we actually doubt that he really knows anything about other economic schools either. He has certainly never read or understood a single work by an Austrian economist. The whole thing simply reads like an ad hominem attack on supporters of the theory penned by a politically motivated hack. What is especially bizarre is his insinuation that Austrian economics somehow has "antisemitic overtones" – never mind, he says, that Ludwig von Mises and Murray Rothbard, two of the preeminent Austrian scholars were themselves Jews (not the only ones by the way), they're antisemitic anyway!
We want to reprint the comment of Mr. Vincent Cook in this context (from the comments section at Bloomberg), who notes that an economic theory can hardly be refuted by mere name-calling, and addresses the above point in some detail:
"Mere name-calling doesn't amount to a refutation of any economic theory, nor does the "guilt-by-association" tactic of linking certain adherents of a given economic theory to their empirical predictions not warranted by the theory itself or to their non-economic views on politics, etc. and claiming that such predictions and views somehow invalidate the theory.
If Mr. Smith has any substantial objections to any element of Austrian economic theory that has been written over the past 140+ years, he should make the effort to cite the work in question and identify what specific premises or logical deductions he thinks the the Austrians got wrong. Characteristically Austrian ideas about the proper methodology of economics, about the nature of capital goods markets and interest rates, about the nature of boom/bust cycles, about the impossibility of economic calculation and coordination of decentralized information under central planning, etc. stand or fall on their own merits, not on what some fringe supporter of a political movement puts into a Youtube video.
The Austrian-oriented case for gold and for 100% reserve banking, for example, doesn't depend on any belief about secret banker plots or about any mechanistic link between money creation and price increases. Rather, it is based on the desirability of preventing destructive boom/bust cycles, of eliminating any long-run risk of hyperinflation, of preventing money and money-substitute creation from becoming a source of political rent-seeking and moral hazard, and of upholding the integrity of the payments system without counterproductive regulatory interventions and bailouts. Mr. Smith's misrepresentations of the case for gold and for 100% reserve banking are simply irrelevant to the issue at hand.
Mr. Smith's neo-Nazi baiting is particularly scurrilous, as it grossly misrepresents the attitudes that Austrian economists have always had about the Nazi movement. Ludwig von Mises wasn't simply a Jewish Austrian economist (and one had to flee Vienna ahead of the Anschluss), he also wrote books concerning the ideological development and political growth of militant German nationalism that are still in wide circulation among contemporary Austrian economists and that still strongly inform their understanding of the subject. Indeed, Mises's 1919 work Nation, State and Economy and his 1944 work Omnipotent Government are must-reads for anyone who wants to understand what went wrong in Germany.
I challenge Mr. Smith and anyone who takes Mr. Smith seriously to read these works and others concerning German history and the Nazis that circulate among Austrian economists (such as Günter Reimann's The Vampire Economy). There is not the slightest trace of anti-Semitism in them, and anyone with any sense of honor and decency reviewing this literature will recognize that Mr. Smith owes the entire contemporary Austrian school an apology."
We doubt that such an apology will be forthcoming, or that Mr. Smith will make the effort to actually read any Austrian economists. Obviously his article was never intended to be a serious critique – it is simply a hit piece. What is interesting about it is mainly that Bloomberg allowed it to be published. We have put Mahatma Gandhi's famous quote at the beginning of this article for a reason. Before the advent of the internet, it was easy for the establishment to "bury" the Austrian School's causal-realist approach to economics by simply ignoring it. Evidently, we have now progressed to somewhere between point 2 and 3 of Gandhi's list – the 'ridiculing and fighting' stage. We can take this as a sign of progress. Ignoring the Austrians is no longer deemed sufficient.
Carl Menger, the founder of the Austrian School
(Photo via Wikimedia Commons)
A Few Remarks on Concepts Discussed by Smith
One of our readers who pointed the Bloomberg article out to us remarked that such attacks often occur close to economic and financial turning points. Readers may recall that practically the entire mainstream economic profession woke to a considerable amount of egg on its face after the 2008 crisis, as the vast majority of economists had neither predicted it, nor provided even the slightest warning of the growing imbalances in the economy that eventually led to the bust. One quite prominent economist who got it completely wrong was of course Ben Bernanke, the former Fed chairman. To state that he merely "didn't see it coming" doesn't fully describe the enormity of his forecasting errors (see this video). The public not unreasonably began to wonder what economists are actually good for.
In the two years prior to the crisis is was however highly fashionable to ridicule and attack supporters of the Austrian School, who were indeed among the very few economists who actually did predict the crisis – in spite of the fact that they do not regard "prediction" to be among the tasks of economic theory. Prediction is akin to the study of history, a thymological task. Correct economic theory and praxeological reasoning can be helpful with respect to forecasting, in that they help with delineating the constraints of such forecasts. But forecasting as such is basically the job of entrepreneurs and speculators, not that of economists.
An entrepreneur who evinces a sound understanding of Austrian theory is Peter Schiff, who was featured prominently in televised debates on financial markets and the economy as the "token bear" in 2005 to 2007, as a foil for all the other debaters who kept insisting that everything was fine until it could no longer be denied that catastrophe had struck. Again, to say that Schiff was "ridiculed and attacked" in his appearances in those years does not fully convey the viciousness and arrogance some of his opponents displayed (there are two videos on you-tube documenting this – one 'general video' covering a range of appearances and the 'CNBC edition').
This fits with our reader's observation that such attacks tend to become especially pronounced near turning points. It took the establishment-approved defenders of the central planning statist quo a little while to get their courage up after the collapse of the tech bubble, and when they finally felt confident enough to declare that the printing press had triumphed, the next denouement wasn't far away. In that sense, the Smith article can be seen as a hint that the current inflationary boom may also be close to meeting its inevitable fate.
Professional economic forecasting in a nutshell
This brings us to several points raised by Smith which deserve some additional comment. Smith inter alia mentions that Austrian economist Robert Murphy "lost a bet on inflation" with someone. However, economics is not about winning bets, and as noted above, it is not about making predictions either. This is in spite of the fact that the Econometric Society's original motto was "Science is Prediction". As Rothbard points out in Man, Economy and State:
"Praxeology and economics deal with any given ends and with the formal implications of the fact that men have ends and employ means to attain them"
In short, economics is the study of the purposive employment of (scarce) means to attain ends. The formal implications thereof form the basis of economic laws, which have universal, time- and place-invariant validity.
The debate over inflation is apparently Smith's biggest bug-bear, as he devotes large parts of his screed to the topic. This is perhaps no surprise, as his main concern appears to be the defense of central banking, or putting it in more general terms, the defense of central economic planning by organs of the State.
In the process, he gets all sorts of things wrong. For instance, he alleges that the absence of a sharp rise in consumer prices to date in spite of the Federal Reserve's relentless money printing caused Austrians to "redefine inflation". Here is the relevant passage from his article:
"The Austrians' next defense was to redefine reality. Inflation doesn't mean a rise in prices, they said – it means an increase in the monetary base. QE wasn't causing inflation, it was inflation itself. Duh! Now the Austrians were safe — after all, you can define inflation as anything you want. It's a free country, ain't it? You can define inflation to be a rare poisonous South American tree frog if you want, and the only consequence will be that people think you're off your rocker. And so when Austrians tried to redefine the word "inflation" to mean something other than "a rise in prices," people duly recognized that Austrians were off their rockers."
We haven't heard from all those people who allegedly "duly recognized that Austrian's were off their rockers", so we are guessing that by "people", Smith mainly refers to himself. First of all, it should be pointed out that there is a formal mistake in this paragraph, as no Austrian has ever asserted that "increases in the monetary base" constitute inflation. The monetary base consists of two major components, only one of which, namely currency, is part of the money supply. The far greater part of the monetary base nowadays consists of bank reserves, which are explicitly excluded from definitions of the money supply. While they provide the basis for the inflationary pyramiding of credit, they are themselves not "money" (although they can become part of the money supply when they are transformed into currency upon customer withdrawals from demand deposits).
More importantly though, Austrians did not suddenly "redefine the meaning of inflation". The redefining was done by others, as inflation had always denoted an increase in the supply of money, before its meaning was deliberately changed to mask the chain of cause and effect. In his essay "Inflation and Price Control", published in 1945, Ludwig von Mises remarked that this redefinition of the term inflation was by no means harmless:
Inflation must result in a general tendency towards rising prices. Those into whose pockets the additional quantity of currency flows are in a position to expand their demand for vendable goods and services. An additional demand must, other things being equal, raise prices. No sophistry and no syllogisms can conjure away this inevitable consequence of inflation.
The semantic revolution which is one of the characteristic features of our day has obscured and confused this fact. The term inflation is used with a new connotation. What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation. This semantic innovation is by no means harmless.
First of all there is no longer any term available to signify what inflation used to signify. It is impossible to fight an evil which you cannot name. Statesmen and politicians no longer have the opportunity to resort to a terminology accepted and understood by the public when they want to describe the financial policy they are opposed to. They must enter into a detailed analysis and description of this policy with full particulars and minute accounts whenever they want to refer to it, and they must repeat this bothersome procedure in every sentence in which they deal with this subject. As you cannot name the policy increasing the quantity of the circulating medium, it goes on luxuriantly.
The second mischief is that those engaged in futile and hopeless attempts to fight the inevitable consequences of inflation-the rise in prices-are masquerading their endeavors as a fight against inflation. While fighting the symptoms, they pretend to fight the root causes of the evil. And because they do not comprehend the causal relation-between the increase in money in circulation and credit expansion on the one hand and the rise in prices on the other, they practically make things worse."
(emphasis added)
In addition, it should be mentioned than no Austrian economist has ever asserted that an increase in the supply of money must instantly and definitely lead to rising consumer prices (even if some have said they expected it to happen, there is nothing apodictic about it). In fact, as Mises pointed out in 1912 already, it is futile to even pretend that something like the "general level of prices" can be measured, as the exchange value of money depends on altogether four factors: the supply of money, the demand for money, and the supply of and demand for goods and services.
This is inter alia why the former correct usage of the term inflation is so important. The effects of vast increases in the money supply can be masked by a concomitant increase in productivity and the supply of goods. This is what happened e.g. in the boom of the 1920s – and it seriously misled many economists as well as the central bank at the time, as they were convinced that because consumer prices had not increased, nothing was amiss. As we know today, the boom eventually turned into the Great Depression, so this was a rather grave error in retrospect. One must surely agree with Mises that the semantic confusion regarding the term inflation is anything but harmless. However, to return to Smith, it wasn't the Austrians who redefined the term inflation, and they most certainly didn't do so recently because they are allegedly miffed that CPI has not yet risen much in the face of a 95% increase of the broad US money supply since 2008.
Ludwig von Mises. It just might be that he knew a little bit more about inflation than Noah Smith
(Photo via Wikimedia Commons)
As an aside, Mises was inter alia concerned about the long term effect of monetary inflation on money's general purchasing power, because he had experienced several destructive hyper-inflation episodes in his lifetime, and had seen firsthand what enormous economic, social, and political damage the breakdown of monetary systems can cause. However, as Mises and other Austrian economists have never tired to point out, monetary inflation causes a "price revolution" in that it most definitely alters relative prices in the economy, even if consumer prices fail to increase much. This is in fact the most pernicious effect of inflation, as it is the root cause of the boom-bust cycle, by dint of falsifying economic calculation.
Moreover, contrary to what Smith appears to think, Austrian economists are not particularly concerned about short term fluctuations in the gold price. They would undoubtedly regard a rising gold price as one of inflation's possible effects, and a warning signal indicating that economic confidence is waning. The Austrian support for employing gold as money is also a bit more differentiated than Smith makes it out to be. The main point Austrians are making is that money should be left to the market. Whether market participants will choose gold or something else is not of central importance, although history certainly suggests that gold would play an important role in a free market money system.
Lastly, we want to briefly address the 5 points Smith lists at the beginning of his article as the 'Austrian beliefs' he intends to denigrate. These are:
"1) Federal Reserve money-printing is a government plot to boost big banks, 2) prices are rising much faster than anyone thinks, 3) real "inflation" means money-printing, not an increase in prices, 4) printing money can never boost the economy, 5) academic economics is a plot to use mathematical mumbo-jumbo to cover up government giveaways to big banks, etc., etc."
We're not sure what is meant by "ect., etc", so we can only address the five points explicitly mentioned.
1. As to the first point, well, check, what else does Smith think Federal Reserve money printing since 2008 was about? Rescuing dairy farmers in Kansas?
2. As to point two, he doesn't mention which prices, but as noted above, a 'general price level' can actually not be calculated, so while measures like CPI may serve as a rough approximation of consumer price trends, they certainly don't tell the whole story. Since March of 2009, the prices of titles to capital have for instance increased by an average of 190%. This is one of the signs that the above mentioned distortion in relative prices is well underway.
3. We have addressed point three extensively above, as it seems to us it is an especially important one. Just one more remark that has to do both with the second and the third point: there is no way to predict with certainty whether and at what point an increase in the money supply will lead to large and broad-based losses in money's purchasing power. This depends largely on contingent circumstances. For instance, if the monetary authority abandons the inflationary policy in time, i.e., before the public's inflation expectations change, it may never happen. We may merely get a sizable economic bust instead. On the other hand, the progression from "lots of money printing" to "inflationary breakdown of the underlying currency system" could be observed several times in history, and what all these historical examples have in common is that there were large time lags between the money supply expansion and the point when the public came to realize that the inflationary policy wouldn't be stopped and lost confidence in the currency. As Mises wrote on this:
"This first stage of the inflationary process may last for many years. While it lasts, the prices of many goods and services are not yet adjusted to the altered money relation. There are still people in the country who have not yet become aw-are of the fact that they are confronted with a price revolution which will finally result in a considerable rise of all prices, although the extent of this rise will not be the same in the various commodities and services. These people still believe that prices one day will drop. Waiting for this day, they restrict their purchases and concomitantly increase their cash holdings. As long as such ideas are still held by public opinion, it is not yet too late for the government to abandon its inflationary policy. But then finally the masses wake up. They become suddenly aware of the fact that inflation is a deliberate policy and will go on endlessly. A breakdown occurs. The crack-up boom appears. Everybody is anxious to swap his money against "real" goods, no matter whether he needs them or not, no matter how much money he has to pay for them. Within a very short time, within a few weeks or even days, the things which were used as money are no longer used as media of exchange. They become scrap paper. Nobody wants to give away anything against them."
(emphasis added)
Note that we are not saying that this is what will necessarily happen this time. We merely wish to point out that firstly, it is bound to happen if the inflationary policy is not abandoned in time, and we secondly want to stress the point that there can be very large time lags before the effects of an expansion of the money supply become noticeable in the prices of consumer goods. In short, there is currently no proof whatsoever that these effects won't appear.
Ben Bernanke's ideas about monetary policy summarized
(Cartoon by Lewis)
4. Point four is one we have discussed extensively in these pages on many previous occasions. Austrians have never said that money printing cannot "boost the economy", since obviously, money printing is what causes economic booms. Hence, "economic activity" may well increase statistically when the central bank expands the money supply (note that this is not always the case). What we are saying is something entirely different: namely that money printing cannot possibly increase society's wealth; rather, it tends to achieve the exact opposite. The supply of capital goods cannot be increased by printing money; if it could, Zimbabwe and Venezuela would be rich instead of being economic basket cases. Money printing leads to a false prosperity, as the boom is characterized by malinvestment and consumption of capital. A boom either collapses at some point, or – if the authorities continue to inflate – the entire underlying currency system will collapse as described above. These are the alternatives – there is no "good outcome".
5. As to point five, quite a lot of economics nowadays indeed consists of mathematical mumbo-jumbo (mathematics should be banished from economic theorizing in our opinion; it cannot express anything that could not be better expressed verbally. It is merely an attempt to make economics look more "scientific", but in reality it obfuscates rather than illuminates the topics discussed). As to the idea that many economists are statists, well, what can one say, except: guilty as charged! A free, unhampered market economy would have very little use for the great majority of today's macro-economists. Many of them are directly or indirectly in the government's employ and are paid wages far above their market value. It goes without saying that they will never bite the hand that feeds them.
In fact, with regard to the latter point, Austrians are inter alia clearly set apart from other economic schools in one crucial respect, and that is in their unstinting support of the free market. It matters little if this support is solely based on utilitarian reasoning or if it is also supported by ethical considerations. Clearly though, Austrians are saying that the market economy cannot possibly be improved by government intervention. Their views are also different from those of establishment-approved "free market supporters" such as Milton Friedman, whom Smith mentions approvingly. Friedman supported free markets, except in the context of central banking and money; for some reason, he considered the free market to be inferior in providing a sound monetary system. Given the absolutely central role interest rates and the money and credit supply play in the market economy, one may be excused for harboring doubts about Mr. Friedman's free market credentials.
Austrian economists are therefore far less likely to find employ in state-supported institutions or to receive research grants from the central bank or similar agencies. One could say that they are actually diminishing their own career prospects in favor of standing up for the truth and their convictions. We can assure readers though that their failure to fall in line with the statism Smith evidently supports is not a sign of alien brain worm infection.
In fact, we are continually surprised by the eagerness with which people like Smith argue that freedom and support of freedom are somehow bad, and that being lorded over by the State is preferable. It is not as if Mr. Smith were a member of the ruling elite (at least we have never heard about him before), so one wonders what he gets out of his statolatry.
Murray Rothbard dispensing sound advice which Mr. Smith should take to heart.
(Photo source unknown)
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While Kiwi boxer Shane Cameron is just days out from his first fight since he took on Danny Green in a world cruiserweight contest in November last year, as usual the prospect of Cameron-Joseph Parker showdown is never far from the conversation.
Cameron will take on American Brian Minto in Auckland on Saturday night as the main event on the Fight for Life card.
It is Cameron's first step back into the heavyweight ranks since he beat Monte Barrett in July last year as he attempts to finish his career with a flourish in the heavyweight division.
After Saturday night, if Cameron is to get the win, the talk will get even louder for all-Kiwi Parker-Cameron matchup.
"People seem to be talking about it a lot; I'm talking about the Duco team," Cameron said at Invercargill Airport yesterday during a quick visit to the city.
"They are promoting it but I'm not really interested in that fight. If I get through Brian Minto, I want to fight for a world title again as a heavyweight this time; fighting Joseph Parker ain't going to get me any closer. We'll see down the track when Joseph has had another dozen fights under his belt. It could be a worthy fight."
Parker's trainer Kevin Barry - who is training Minto for the Cameron stoush - agreed the Parker fight would not shoot Cameron up the rankings but he believes the financial purse could be too good for Cameron to turn his nose up at.
"After the Botha fight we made an offer of $550,000 to be split with most of that going to Shane, and Shane and his team came back and said 'no we want the whole $550,000', which means 'no we don't want the fight'," Barry said.
"The bad thing for them is they should have taken that fight then because the Joseph Parker that fought Botha is a totally different animal now. He's a much more accomplished fighter.
"When Shane says there's no advantage for him fighting Joseph, that's a pretty fair assessment, because Joseph's 8 and 0, but there's a lot of money on the table for that fight. There was $550,000 on the table, there's probably more now. So Shane's got to a have a look at how many fights he's got left in his career and the Parker fight's very much a business decision for Shane."
If Minto were to upset Cameron on Saturday night, the talk would switch.
It seems Minto will walk into two more fights in New Zealand in the next six months if he wins on Saturday night.
If the well-travelled and experienced Minto is to grab a win over Cameron, it seems promoters Duco Events will look to line him up on the undercard to the Joseph Parker-George Arias fight in Nelson in March before then looking at him perhaps to fight Parker in June or July.
If that was the way it panned out, it would a major setback to Cameron, who at 36 wants to make a journey up the world heavyweight ranks.
Cameron is confident he can do just that and it starts with doing the business against Minto.
"It's a fight I need to win. I'm always confident, but I'm only confident because I've done the hard yards and I believe I can beat Brian on the night. I'm sure he'll say the same thing too," Cameron said.
- The Southland Times
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Horror Hotties: The Girls of Summer (Part 2)
3 hours ago
My thoughts and ramblings on both classic and current horror, science fiction, exploitation and sleaze films
Actually, "The Alchemist" is on DVD, in a bargain-based-priced, no-frills version released by Synergy.
Check out my review to see if you think it's worth hunting down.
The Charles Band Collection: 'The Alchemist' is so-so early effort of Band
Glad to find another fan of TerrorVision! What a spectacularly bizarre film. And I will now search high and low for the others that you've mentioned.


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Green car, environment. (The engine)
Credit: Henrik Sorensen
Creative #: 158461973
License type: Royalty-freeRoyalty-free pricing is based solely on the size of the product you need, not the specific use. You don't have to pay any additional royalties on a use-by-use basis. Once you license a royalty-free product, you may use it multiple times for multiple projects without paying additional fees. (Pornographic, defamatory, libelous or otherwise unlawful use of any image is, of course, prohibited.)
Collection: DigitalVision
Release info: Property released
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Green Car Environment Stock PhotoCar,Color Image,Denmark,Digitally Generated Image,Engine,Environment,Environmental Conservation,Fuel Efficient,Full Frame,Green Color,High Angle View,Horizontal,No People,Photography,Sustainable Resources,Technology,TransportationPhotographer Henrik SorensenCollection: DigitalVision Henrik Sorensen . www.henriksorensen.com . email@example.com green car, take care of the environment, go green, engine, headlights, green energy