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Politics | National | Business | Entertainment | Environment | World | Technology | Weather
TAIC says the 2011 Rena grounding probably would not have happened had there been a light beacon on the reef.
An exhibit celebrating Air New Zealand's 75 years in flight has touched down at Te Papa.
Dan Carter is poised to become the world's highest paid rugby player when he moves to France after next year's Rugby World Cup on a three-year deal with Racing Metro.
Marine activists Sea Shepherd have captured on camera their pursuit of a Nigerian-flagged fishing vessel inside protected Antarctic waters.
The gunmen who stormed a school in Pakistan played sadistic games with captive students by suggesting some could be let go before lining them up and gunning them down.
An unsanctioned mixed martial arts event was all fun and games until one fighter lost his prosthetic eye after being kicked in the head.
Event Cinemas NZ is "in conversation" over showing comedy The Interview here after its dumping by US cinemas in the wake of terror threats.
A video posted to YouTube shows the terrifying moments a Boeing-777 encountered a harsh winter storm which rocked the plane for 45 minutes, injuring 14 people.
Auckland City has been knocked out of the FIFA Club World Cup in Morocco after going down 2-1 to Argentine side San Lorenzo in extra time.
Online entertainment editor Daniel Rutledge has named The Raid 2 as his favourite film of 2014.
It's been a wet and windy start to summer AAA good news for farmers, but frustrating for holidaymakers and everyone else waiting for the sun.
Andrew Little says our anti-terror laws aren't designed to catch "lone wolves", and the Sydney siege should not be used as justification for passing them under urgency.
In the final episode of Tech Bytes of 2014, Emma Brannam takes a look at the weirdest and most wonderful inventions of the year.
Political editor Patrick Gower and The Nation host Lisa Owen take a look back at the year's big stories and the political winners and losers of 2014.
Athletics great Valerie Adams has won the New Zealand Olympic Committee's Lonsdale Cup for an unprecedented fifth time.
The Black Caps have tied the one day international series 2-2 with Pakistan after winning by seven runs in Dubai.
Pakistan will end its moratorium on the death penalty in terror-related cases, a day after Taliban militants killed 141 people in an attack on a school.
US officials have spoken out to calm fears of terrorist attacks at cinemas showing The Interview, insisting there is "no credible intelligence" to suggest a plot is underway.
New Zealand's current account deficit rose to $2.5 billion in the September quarter, with the annual deficit of $6.1 billion representing 2.6 percent of GDP.
The United States has announced a "historic" thaw in relations with Cuba, saying it would ease long-standing trade and travel sanctions.
In 1997 Stephen Anderson went on a rampage in Raurimu, where his parents had a ski lodge. Anderson shot 10 people and killed six, including his own father.
British rockers Jethro Tull are in the country for five shows - frontman Ian Anderson speaks about how thrilled he is to be in New Zealand.
For political editor Patrick Gower, the defining moment in politics for 2014 was the Moment of Truth, which was a "mega belly flop".
Sam Hayes and a crew visit Antarctica to meet up with a group of scientists on a mission. They want to find out exactly what Antarctica was like last time there was this much CO2 in the atmosphere.
Auckland man Bernie O'Donnell got a ticket on Monday at a Wilson carpark, for having his parking ticket upside down.
Campbell Live has been contacted by mothers who have been simply shafted when they return to work after parental leave.
There were just 13 fatal shark attacks worldwide last year, and in New Zealand there's a fatal attack once every 15 years.
Thursday morning's fourth ODI between the Black Caps and Pakistan is set to go ahead despite calls to postpone the game following a Taliban attack on a school.
Auckland City FC are preparing for their latest David versus Goliath battle when they take on South American champions San Lorenzo.
Shaun and Mitchell Marsh have become the fourth set of brothers ever to play together in the baggy green.
Pakistan has begun three days of mourning for the 132 children and nine school staff massacred by the Taliban.
The Inspector-General of Intelligence and Security has accepted Labour MP Phil Goff's "unreserved apology" for leaking a Security Intelligence Service report to media.
Could a five-year low in crude oil price come at a cost to the environment and those in the market for a house?
An update on the markets for December 17, 2014.
A Blenheim couple who have been fined $40,000 for not wearing helmets while riding their quad bikes say the punishment is unfair.
New South Wales Premier Mike Baird says the bail laws were already being reviewed and stricter conditions will be brought in in January.
Sol3 Mio beat Lorde to top the official New Zealand album chart of 2014, according to data collection agency RadioScope.
A disabled dog in the US has been given the freedom to run after his owner had 3D printed prosthesis made.
The Good Samaritan who was brutally bashed while helping an old woman who was being robbed has thanked New Zealanders.
For more than 16 hours in Channel 7's Sydney newsroom directly across the road from the Lindt Café, cameraman Greg Parker aided a police sniper keeping watch on the situation.
A former US baseball star turned ambassador to New Zealand and Samoa has released a video introducing himself and his wife before they take up residence in Wellington.
Fans of hit animated film Frozen just can't seem to let it go, and now its co-director has apologised for its ridiculously catchy anthem.
From Lorde to Shia to Eminem, David Farrier and Daniel Rutledge discuss the best entertainment news stories of 2014 on Firstline.
3 News sports reporters Michelle Pickles and Jim Kayes joined Firstline to discuss what they thought was the best sporting moments from 2014.
Two politically divided brothers received an unusual call from a viewer on a US political talk show.
Stories have begun emerging from the 17 staff and customers who were held in the terrifying hostage ordeal in central Sydney's Lindt Café.
Fans attending Cricket World Cup matches next year will notice an "enhanced" police and security presence, but are being promised it won't be "over the top".
Real Madrid have cruised into the FIFA Club World Cup final in Morocco after sweeping aside Cruz Azul 4-0.
AUT's Steve Pointing and Massey University's Heather Hendrickson take a look at the biggest science stories of the year.
How much do Auckland youngsters know about Santa? What are they expecting to find under the tree this year? And most importantly, have they been good?
At New Zealand's Scott Base in Antarctica, two people are tasked with making sure the scientists and staff feel right at home AAA the chefs.
When 24-year-old Rachael Williams woke up six months ago with a sore knee, arthritis didn't even cross her mind.
Four years after becoming a Commonwealth Games silver medallist, weightlifter Richie Patterson dreamed of going one better in 2014.
Jeb Bush, son to one former US president and brother to another, has thrown his hat into the ring for the 2016 race, announcing he had consulted his family and decided to explore a bid.
Taken 3 actor Liam Neeson has teamed up with Washington Wizards star John Wall to create a fantastic advert for the NBA games on Christmas Day.
Finance Minister Bill English is rejecting claims the Government's 2010 tax cuts are preventing the country's finances getting back into the black.
Taliban insurgents have killed at least 141 people, most of them children, after storming an army-run school in Pakistan.
Australian authorities say the Sydney CDB, the scene of the horrific hostage situation, will reopen today.
US police have stepped up a manhunt for an Iraq war veteran wanted for the murders of his ex-wife and five of her relatives.
For the first time in more than 12 years, a set of brothers will wear the Baggy Green together for Australia


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Renewable Energy Won't Stop Climate Change According To Truthout Interview With Scholar And Author
SACRAMENTO, Calif., April 9, 2013 /PRNewswire/ -- Renewable energy is neither clean nor a solution to climate change according to a new Truthout interview with Ozzie Zehner, a visiting scholar at the University of California – Berkeley and author of the book Green Illusions. Instead of "hyping so-called green energy," Zehner advocates redirecting focus to the impacts of a growing human population and consumption. "If we want to address climate change and the many other consequences of energy production," remarks Zehner, "we'll need to greatly reduce both consumption and the number of people consuming over time."
(Photo: http://photos.prnewswire.com/prnh/20130409/PH90943-a)
(Photo: http://photos.prnewswire.com/prnh/20130409/PH90943-b)
Zehner argues that "there is no such thing as clean energy, but there is such a thing as less energy." He highlights the disadvantages of renewable energy technologies such as solar cells, wind turbines, biomass, and electric cars. For instance, he claims, "we are now learning that the solar cell industry is one of the fastest growing emitters of virulent greenhouse gases such as sulfur hexafluoride, which has a global warming potential 23,000 times higher than CO2, according to the Intergovernmental Panel on Climate Change (IPCC).""There is an impression that we have a choice between fossil fuels and clean energy technologies such as solar cells and wind turbines," Zehner remarks. "That choice is an illusion." He identifies how alternative energy technologies rely on fossil fuels throughout their lifecycles. "Alternative energy technologies rely on fossil fuels for mining operations, fabrication plants, installation, ongoing maintenance and decommissioning. Also, due to the irregular output of wind and solar, these technologies require fossil fuel plants to be running alongside them at all times. Most significantly, alternative energy financing relies on the kind of growth that fossil fuels drive."
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subset: commoncrawl


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Here are some of my favorite coupons still left to print for September. The new October coupons will be available for you to print soon. See if any of these remaining September coupons from coupons.com can save you some money. Aim to save at least $5 more with every shopping trip!
If you are new to Coupons.com, once you click on any coupon picture below, you can choose one coupon or as many as you would like. You may be instructed to download a coupon driver before printing, they will walk you through a few easy clicks. If it does not work for you, try a different browser.
You can also find more printable coupons at the top of More with Less Today, in the orange navigational bar and at the bottom of my home page. Don't shop without a few grocery coupons!
Print them today, once you have them printed, they don't expire for awhile! You can use the save for later option if you are not near a printer.
I found some high-dollar value coupons for Halloween candy. Print these before they go away!
Ending Soon


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Free Samples & Sounds
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|23 Nov 2012
BSOD randomly no specific program
I am getting random BSOD's I often see (IRQL less then not equal, NVDM(one referring to my video card), and a few others. As well it will infrequently freeze while playing sound. With no BSOD just put out a loud frozen tone. I have updated all of my drivers thinking it was the video card first. I am still having the issue not exactly sure where or what is causing it. I think I have everything asked for zipped and attached. If I am missing anything please let me know and I will go fetch it.
Thank you for your help,
Windows 8
AMD Phenom II X4 965
ASRock M3A770DE AM3 AMD 770 ATX AMD Motherboard
MSI N460GTX -M2D1GD5/OC GeForce GTX 460
8 GB OCZ AMD Black Edition (PC3 12800) Model OCZ3BE1600C8LV4GK
Rocketfish 5.1 PCI soundcard
Corsair Force Series 3 CSSD-F120GB3A-BK 2.5" 120GB
Western Digital WD Blue WD5000AAKS 500GB
Western Digital WD Green WD8000AARS 800GB
LITE-ON DVD Burner SATA Model iHAS124-04
|My System Specs
|23 Nov 2012
Sorry I just realized there is a separate Windows 8 board now.
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|Intellipoint: How to program Esc as a program-specific mouse button?
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Emergency Preparedness
Everyday offers the potential for the unexpected to occur. It's a fact of life we all have to deal with but there is no reason to be concerned about it especially when you have taken the time to prepare and have emergency plans in place.
Besides shelter and medicine the most important items to have in place during an emergency situation is a reliable water sources and a means of cooking hot meals. We offer an extensive line of emergency cooking gear that will compliment your emergency preparedness plans perfectly.
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Helios LanternItem #: MSL2
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The saying goes that big things come in small packages. So is the case with the Camp Chef Mountain Series Highlight Lantern. It's the perfect option for situations that are too small or compact for our full size lanterns but still demand a lot of l... Learn More


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Narrow your search
Whether you want to fight off the zombie hordes or just be popular at school, knowing how to make these flaming projectiles could be a critical survival skill.
The online media company can thank its takeover of Adap.tv and video ads for an acceleration in revenue, but it barely eked out a profit because of cutbacks at local news site Patch.
Developed to make video recordings more intuitive and fun, the app lets users edit together various scenes with music and filters.
Japan carriers are offering some iPhone 5S handsets for free with a two-year contract.
As part of its holiday promotions, Amazon knocks $250 off the price of the unlocked version of its Fire Phone.
Microsoft is aiming for the second half of next year to release both its next-generation Office client and server applications.
The original Darth Vader will reprise his voice role in the upcoming ABC broadcast of the animated TV movie "Star Wars Rebels: Spark of Rebellion."
The company sees the Wii U performing similarly to the portable 3DS and rebounding. "We know the power of great software driving hardware," one executive tells CNET.
EA Sports will bring FIFA 14, NBA Live, Madden 25, and UFC to the Xbox One within the next year.
Consumer are adopting Amazon's flagship phone at a much slower rate than other smartphones, but that's to be expected, since it's only offered so far on AT&T, Chitika Insights says.


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Audio & Video Topics
Primetime with Isaac and Big Suke
Latest Audio Clip
In the 3 o'clock hour, the Mavericks trade for Rajon Rondo. Where does that put the Blazers in the Western Conference?
» More from Primetime Interviews
Danforth, Dirt, and Sprague
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Follow your favorite teams and players - for stats, previews, recaps and realtime gamecasts, make The FAN's NFL Page your pro football destination.


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We are just getting together details of what we need to manage our soon to exist virtualised infrastructure.
This would be 3 x hardware boxes running Hyper V basically.
So, what licenses do I need for this?
Or, have I got this wrong - what tool is it to manage Hyper V installations centrally?


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Avaya Photos
Avaya Reviews
"fantastic employer, too bad they don't operate in sydney anymore "
- Comp & Benefits
- Work/Life Balance
- Senior Management
- Culture & Values
- Career Opportunities
I have been working at Avaya full-time (more than 3 years)Pros
- great culture
- good people
- opportunity to work on cutting edge techCons
- significantly downsized from ~70 to ~5 peopleRecommendsNeutral OutlookNo opinion of CEO
Avaya Interviews
Interview Experience
Interview Experience
Getting an Interview
Getting an Interview
Interview Difficulty
- Application Details
interviewed at Avaya in May 2009.Interview Details
unstructured interview process - 1st interview is technical with 2-3 people. expect to be quizzed on background, experience, but rapidly will move to problem solving on a whiteboard.
2nd interview with management and sometimes HR. typically looking for culture fit.Interview Questions
Negotiation DetailsStraightforward.Accepted OfferPositive ExperienceAverage Interview
- Varied a lot from interview to interview as was not structured Answer Question
Avaya Awards and Accolades
Additional InfoUnlock Profile
Avaya helps to tie the corporate world together. The company's communication equipment and software integrates voice and data services for customers including large corporations, government agencies, and small businesses. Avaya's office phone systems incorporate Internet protocol (IP) and Session Initiation protocol (SIP) telephony, messaging, Web access, and interactive voice... More
Mission: Provide the world's best communications solutions that enable businesses to excel.


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The weekend's best dance music: Christian Martin, Daniel Bell, Michal Menert and more
Catch Christian Martin this weekend with Ardalan at NORAD.
Whether your taste is old-school minimalist techno by way of Detroit or bass-driven, glitch-laden tunes that have gained popularity recently, there's something for everybody to love on this weekend's Dance Card: Christian Martin headlines a two-day benefit for Scott Christensen at NORAD, Daniel Bell's at Satori, Michal Menert at Cervantes', DJ Irene's at the Church and much more. Keep reading to get the full rundown.
See also: Denver dance community rallies to raise funds for promoter Scott Christensen this weekend
There are a lot of reasons to be happy that Christian Martin started attending the legendary full-moon desert parties thrown by Moontribe in Southern California in 1995 -- one of which manifested itself here in Denver this past July: Martin turned his younger brother, the illustrious Justin Martin, on to electronic music as he was discovering it.
In 2000, the elder Martin moved to San Francisco (after immersing himself in the New York, London and Los Angeles scenes), and in 2003, he decided to resurrect some of the energy he remembered from the Moontribe massives by creating dirtybird soundsystem with Justin, Worthy and Claude VonStroke.
With such high-profile company, you know that the sets Martin spins have to be something special, and they are: His tech-house selections tend toward driving mechanical rhythms and carefully layered melodies, and he builds and holds tension at just the right moments during his sets, releasing the energy when the time is right. He'll join Ardalan at a benefit for Flatline Productions promoter Scott Christensen at NORAD on Saturday, October 20.
Keep reading for more on the weekend's best dance music.
Location Info
Funky Buddha Lounge
776 Lincoln St., Denver, CO
Category: Music
821 22nd St., Denver, CO
Category: Music
Club Vinyl
1082 Broadway, Denver, CO
Category: Music
Lumonics Light & Sound Gallery
800 E. 73 Ave., Denver, CO
Category: General
2701 Larimer St., Denver, CO
Category: Music
1909 Blake St., Denver, CO
Category: Music
The Church
1160 Lincoln St., Denver, CO
Category: Music
Cervantes' Masterpiece Ballroom
2637 Welton St., Denver, CO
Category: Music
Satori Night Club - CLOSED
940 Lincoln St., Denver, CO
Category: Music
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D.C. United Soccer
D.C. United Take the Pitch for Thrilling MLS Action
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One of the founding members of Major League Soccer as well as one of its most successful teams, D.C. United is back on the pitch at RFK Stadium for another season of scintillating soccer action. After experiencing some recent rough patches, United is back on track under former player and now coach, Ben Olsen, qualifying for the CONCACAF Champions League after winning the U.S. Open Cup last season. D.C.'s roster is led by standout keeper Bill Hamid and recent acquisition Eddie Johnson, but United has a reserve of young talent, including Sean Franklin and Fabian Espindola. Join "La Barra Brava" and the rest of the D.C. United faithful as they battle the MLS' best.
* Additional fees apply.
All offers for D.C. United Soccer have expired.
The last date listed for D.C. United Soccer was Wednesday July 30, 2014 / 7:00pm (vs Toronto FC).
Venue Details
George W. Cook, III
Everyone quit selling beer before the end of the 3rd quarter.2012 Military Bowl info • Dec 28 2012 star this tip starred
Goldstar Member
$4 hot dogs; $9 3 chicken strips with fries; $7 funnel cakes2012 Military Bowl info • Dec 28 2012 star this tip starred
Reviews & Ratings
attended May 31 2014
star this review starred report as inappropriate
Great time, great crowd, great seats great game--perfect!
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With Security at Risk, A Push to Patch the Web in today's NY Times reminded me about OpenDNS, a free domain name system service. The article, which deals with a serious security flaw discovered in the operation of the domain … Continue reading
PC2: Potential Convert
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Posted in Internet Culture, Internet Law, privacy Tagged ADA, copyright law, Facebook, Google, Internet, law, Mac, NFL, technology 1 Comment
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The mission of the Universal Digital Library: Million Book Collection, hosted by Carnegie Mellon University is to create a Universal Library which will foster creativity and free access to all human knowledge. As a first step in realizing this mission, … Continue reading
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Limited Vista from my Windows
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Posted in Consumer Protection Tagged Mac, Windows XP 1 Comment
They Did Walk This Way
BU Today features a story about BU's role in the Boston rock scene, and opens with a story of "five guys who didn't exactly go to college" renting a Comm Ave apartment and playing gigs around Boston University. Those five … Continue reading
Posted in Pop Culture Tagged college, Mac, rain 3 Comments


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Paula Zahn, The Day After
The write-ups are in on the Paula Zahn resignation, reported first on TVNewser. Zahn tells TVWeek's Michelle Greppi, "I wanted to move on and he (CNN/U.S. president Jon Klein) wanted to move on."
To Jacques Steinberg of the NYTimes, "when you look at the landscape, particularly in the 8 o'clock hour, it seems pretty obvious the audience is drawn to opinion-driven shows. That is not what I do."
And on the persistent rumors surrounding the demise of her show, Zahn told the AP's David Bauder "You're not going to survive very long in this business if you internalize every rumor that is out there. To a certain extent, my staff and I were able to drown out the noise and do what we were expected to do."
In his note to the CNN staff, Klein wrote, "throughout the coming weeks, we will be utilizing substitute hosts at 8pm leading up to the November launch of a new program anchored by Campbell Brown."
Click Continued to read the rest…


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Thu, Jun 14, 12 at 13:11
|Does anyone have a suggestion on how deep the umbrella anchor should be placed on a baja step into the concrete?
Also how wide should the hole be for a standard umbrella?
Our baja step is 8 1/2 L x 4' W. The water depth will be nine inches. We would like to place just one anchor on
Thank you!
Follow-Up Postings:
- Posted by muddy_water (My Page) on Thu, Jun 14, 12 at 19:57
|Look at the link below....
Here is a link that might be useful: Sr Smith
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Winnipeg Free Press - PRINT EDITION
Get behind Ukraine's new leader
Ukraine's jubilant new president Petro Poroshenko on Monday said his first priority is to seek peace in the rebellious eastern districts while, almost simultaneously, his military unloaded air strikes on Donetsk's airport, bombing pro-Russian forces fighting to free the region from the country's control.
Mr. Poroshenko is professing a willingness to negotiate, including with President Vladimir Putin, but also mustering the muscle to bring its separatist Russian-speaking populations back into the fold.
Monday's election was the best possible result for the West, and for the Ukrainian people at large. More than 60 per cent of the electorate turned out and gave the chocolate-maker billionaire a decisive victory, at more than 55 per cent support. His closest rival, former prime minister Yulia Tymoshenko, received 12 per cent support.
It means the hard work of reunifying Ukraine, steering it toward economic stabilization can get underway. Mr. Poroshenko, the country's former foreign minister, is sympathetic to the West and wants to solidify ties to Europe. Now the West can refocus its efforts to keep Ukraine from slipping back into the grasp of Russia, with its ready supply of aid and natural gas.
The clear win averted, as was the popular intent, any need for a second run at the polls, a prospect the country could ill afford either financially or in its fragile, but tenacious stand against a rapacious northern Russian neighbour keen to seize upon separatist sentiment.
Mr. Poroshenko has laid out his to-do list. He said he will sign the economic portion of an agreement with the European Union, abandoned by his predecessor Viktor Yanukovych earlier this year in the face of Russian retaliatory threats. Mr. Yanukovych's move triggered the Euromaidan uprising that overthrew the government, and led to Russia's move into Crimea.
For his part, Mr. Putin said he would respect the results. A good sign, even though few voters turned out in the eastern districts, which hold five million of Ukraine's total 35-million population. In the violent Donetsk district the few polls that tried to open were immediately shuttered amid gun fire from terrorists. Still, with the help of independent election observers, 350 from Canada alone, voting took place in 200 of Ukraine's 215 electoral districts.
It is clear the country's new leader will be no pliable puppet for Russia, which insists it is only interested in protecting the language and cultural rights of Ukraine's Russian-speaking people. The immediate stumbling block will be the future of Crimea, which Mr. Poroshenko has said must be brought back into his country's fold. But there is also the matter of referendums held in the fractious eastern districts, which sought greater independence from Ukraine. The votes were promoted by pro-Russian populations who naturally see their interests better served going east, but found some support among other residents who were deeply uneasy with the maidan revolt that upended the democratically elected national government.
Mr. Poroshenko's emphasis on negotiation, his offer of amnesty to those who will drop their weapons, is a path that Canada, the U.S. and European nations can encourage. The support of the West, and its institutions such as the International Monetary Fund, are key to strengthening Mr. Poroshenko's hand in those talks. Ukraine needs stalwart allies to get out from underneath its crushing public debt that can kill its efforts to rebuild.
The way forward will be a delicate balancing act, offering just enough so Ukraine itself can guide its future, while leaving something on the table to calm the anxieties of a Russian bear easily roused at the prospect of a powerful Western alliance rising on its flank.
Editorials are the consensus view of the Winnipeg Free Press' editorial board, comprising Catherine Mitchell, David O'Brien, Shannon Sampert, and Paul Samyn.
Republished from the Winnipeg Free Press print edition May 27, 2014 A8
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He entered as s substitute this tournament, but with Mario Carrillo he does not have insurance.
Martin Romagnoli appeared on the Pumas bench in the match against Chivas, a situation that makes the midfielder uncomfortable, who hopes to return to the starting lineup.
"Obviously you want to be a starter, you have to work hard to win back a spot in the starting lineup, it depends on you and the decision of Mario to include me in the lineup," he said. "Yes, it bothers me because I am not playing, but in the rules of football no one guarantees you a spot in the lineup, you have to work to win your spot. You always train and work to be in the starting lineup, because that bothers you, but it was the manager's decision that you have to resprect."
In another vein, Romagnoli said the team playted a good match. But it is not enough, because to reach the finals, you have to win matches.
"(The best match) I don't know if it is in the tournament, but I believe if we keep doing things well as visitors, and today we demonstrated that, we played a good match, but obviously we need to get the three points to get us in the group that is fighting for classification," he said.


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5 Facts that will annoy your Keynesian economics professorSubmitted by Ben Parish on Wed, 06/20/2012 - 22:19
Not every college professor is a Keynesian, but there's a good chance that yours is, or at least subscribes to part of the Keynesian mindset. If so, here are some fun facts you can bring up that desecrate the Keynesian worldview.
1.) The Not-So-Great Depression of 1920-21
The Great Depression (1929-1940+) was a horrible era, and it takes center stage in a lot of the current debate on economic policy. But few people mention the Depression of 1920-21. Unlike the Great Depression, which lasted one-and-a-half decades, the Depression of 1920 only lasted a year or so. During the Great Depression, massive government stimulus was used. Everyone knows that FDR was a big supporter of stimulus i.e. increasing the debt, spending money, and lowering interest rates, but it has been left out of the popular dialogue that Herbert Hoover also engaged in massive amounts of stimulus.(1) Now contrast that with the Depression of 1920, which was dealt with, as Jim Grant put it in the Washington Post:
By raising interest rates, reducing the public debt and balancing the federal budget. Eighteen months after the depression started, it ended.(2)
The Keynesian prescription of lowering interest rates and increasing government spending was not only ignored, but the exact opposite was done. Let 21st-century economists rub their eyes in disbelief.
2.) The Nonexistent Depression of 1946
Millions of Americans were employed in the armed services in 1945, and according to Keynesian logic, if they were all laid off at once and government spending was drastically cut, an enormous depression would result.
Prominent Keynesian Paul Samuelson said:
When this war comes to an end, more than one out of every two workers will depend directly or indirectly upon military orders. We shall have some 10 million service men to throw on the labor market…were the war to end suddenly within the next 6 months, were we again planning to wind up our war effort in the greatest haste, to demobilize our armed forces, to liquidate price controls, to shift from astronomical deficits to even the large deficits of the thirties–then there would be ushered in the greatest period of unemployment and industrial dislocation which any economy has ever faced.
And indeed, the troops were all laid off, price controls ended, and federal government spending was cut by an incredible 61%. Did the worst economic catastrophe in history occur? No, the economy entered the enormous prosperity of the late 1940s and 1950s once resources were taken from the nonproductive state sector and given to the productive private sector.(3)
3.) The Harvard Business School Study that Shows Government Stimulus Hurts the Economy
The Keynesian theory doesn't differentiate between good spending and bad spending: All spending in a recession/depression is good for the economy. In fact, Keynes notoriously claimed that,
If the Treasury were to fill old bottles with banknotes, bury them at suitable depths in disused coalmines which are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez faireto dig the notes up again…there need be no more unemployment.(4)
So any study the shows government spending harms the economy deals a death blow to the Keynesian theory, but this is precisely what a Harvard Business School study found:
Recent research at Harvard Business School began with the premise that as a state's congressional delegation grew in stature and power in Washington, D.C., local businesses would benefit from the increased federal spending sure to come their way. It turned out quite the opposite. In fact, professors Lauren Cohen, Joshua Coval, and Christopher Malloy discovered to their surprise that companies experienced lower sales and retrenched by cutting payroll, R&D, and other expenses…' The average state experiences a 40 to 50 percent increase in earmark spending if its senator becomes chair of one of the top-three committees.'(5)
As the government spends more, it occupies a larger share of the economy: The government snatches resources up and crowds out private, productive investment.
4.) The 1870s
During the 1870s, pricesin America were falling. The Keynesian theory says that wages are "sticky downwards." This means that, if prices as a whole are falling, there will be high unemployment. But this simply was not the case in the 1870s:
Historians long attributed the turmoil to a 'great depression of the 1870′s.' But recent detailed reconstructions of 19th-century data by economic historians show that there was no 1870′s depression: aside from a short recession in 1873, in fact, the decade saw possibly the fastest sustained growth in American history. Employment grew strongly, faster than the rate of immigration; consumption of food and other goods rose across the board. On a per capita basis, almost all output measures were up spectacularly. By the end of the decade, people were better housed, better clothed and lived on bigger farms.(6)
The economy increased production faster than the amount of dollars grew. Today, in a few very fast growing industries like cell phones and laptops, prices fall, but almost every other industry grows at a slower pace than the money supply, and this means prices rise. But this doesn't have to be the case.
5.) Stagflation
According to the Keynesian theory, either prices are rising and unemployment is falling, or prices are falling and unemployment is rising: A situation where prices are rising and unemployment is also rising is impossible. But this is untrue because,
In the 1970s, however, many Western countries experienced 'stagflation,' or simultaneous high unemployment and inflation, a phenomenon that contradicted Keynes's view.(7)
To this day, macroeconomics students are taught that there is a direct trade-off between inflation and unemployment. But the 1970s show this is clearly false.
So, What's Going On Here?
Despite the enormous failings of the Keynesian theory, how is it that this theory has remained the most-taught theory in the economics profession? It's a question that's up for debate, but I will point out this fact: The Federal Reserve is an institution that is explicitly Keynesian in its policies. The Fed lowers rates during recessions with the intent of stimulating the economy. This is also known as printing money. And what are some of the things it does with this money?
The Federal Reserve, through its extensive network of consultants, visiting scholars, alumni and staff economists, so thoroughly dominates the field of economics that real criticism of the central bank has become a career liability for members of the profession.(8)
Now, I wouldn't confront your professor and accuse him of corruption, he is the one grading you at the end of the day, but the Fed's involvement in academia is an interesting fact to note.
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I don't see the references....in particular I was interested in the Harvard Business school study.
It number (5) at the website.
Here is the link, though:
When injustice becomes law - rebellion becomes duty.
Just emailed my old econ professor
I wanted to share this great post with him. I was in his class in 2008. He is a free market guy and was 100% against the bailouts. Im interested to hear his thoughts on this piece.
Those who would give up Essential Liberty to purchase a little Temporary Safety, deserve neither Liberty nor Safety
-Benjamin Franklin
Careful. If you're only armed
Careful. If you're only armed with this and they've heard of these before, be prepared to look like a fool when they throw an unknown word at you.
I suggest you read critiques of each of these points and then countercritiques so that you are one step ahead.
In fact, I suggest studying both the "mainstream" economics and the Austrian Econ thoroughly before you get into arguments which you might lose epically in front of the whole class.
Check out LibertyHQ, where I aggregate the all best articles on libertarianism by topic! For now, the "Issues in Libertopia" section is the most developed. Find a link to it below:
Two Textbooks
Since I studied Economics at a "liberal arts" college, we had two text books: one by Paul Samuelson, and one by Milton Friedman. I will never forget the smiling face of a young Santa Claus, Milton Friedman, on the book cover, in contrast to Paul Samuelson's sour puss; I think you could decide which one to trust, just from their faces.
There was no question which one was in tune with reality (with all its problems) and which one based his theories on wishful-thinking (with a great deal of distrust and pessimism). Paul Samuelson was a manipulator and advocate for carrots and sticks; he obviously had a low opinion of people.
There is no question in my mind that the free market is natural, naturally self-regulating, harmonious, and beneficial, with the least amount of undeserved harm and social cost, and best able to correct the problems that occur in any system.
What do you think? http://consequeries.com/
Would had this damned thing been let go in 2008. We would have been out of it by now or at least could see our way clear. Yet here we are, some four years later, stuck in limbo, or more likely, with our britches snagged on a cracking branch growing out a cliff wall.
Reads as a freshman 'comedy' piece
When injustice becomes law - rebellion becomes duty.
Resist the temptation to feed the trolls.
...cannot deal with facts, only abstracts.
Hence the confusion. They are mostly too narrow minded.
They would be out of a job if there were no abstracts. :)
bump great thread
bump great thread
nice to see quality posts at the dailypaul are popping up here again
Well said!
Norfolk, VA
Time to INVESTIGATE the investigators of 9/11. PROSECUTE the prosecutors. EXPOSE the cover-up.