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Rap video from a few years ago showing the failed arguments for Keynesian economics and the consequences of messing around with the money supply and artificially forcing interest rates low.

Pushing down interest rates leads to mal-investment in projects that are not really good plans. When interest rates eventually rise, lots of plans need to be abandoned.

The results? “Bailouts, payouts, and machinations.”

The ‘cheap credit dog’ will come back to bite hard.

When the economy is flooded with trillions of dollars during COVID, the fully expected inflation forces the Fed to raise interest rates, in turn dropping vaue of bonds and then in turn tanking the value of the securities portfolio of every bank in the country. No wonder the FDIC and FRB think Silicon Valley is just the first bank to go.

We saw it in 2008. We are seeing it again today.

The 10 Key Campaigns of the American Revolution by editor Edward Lengel and a collection of contributing authors is a delightful description of key fights in the battle for American liberty and freedom.

A side discussion in the text is pertinent to the ongoing debate over the Second Amendment.

The book explains every free male in the colonies from the age of 16 up to 60 was required to report annually for training as a part of the militia.

The American Revolution is a delight to study. A few tidbits from Edward Lengel and the contributing authors in The 10 Key Campaigns of the American Revolution are relevant to this blog. Some fun stuff:

• Perseverance in face of ongoing reversals.
• Paying Continental soldiers in specie, that means silver.

Next post will discuss What is a “militia?”

Perseverance in face of ongoing reversals.

Author points out George Washington had more losses in battle than wins. In spite of that he led the patriot forces to victory over the greatest world power of the time.

An overarching feature that shows throughout the book is perseverance in face of trials, tribulations, and battlefield defeats.

If the politicians don’t start relaxing the lockdown and letting people pay their rapidly accumulating bills, bunches of people are going to take the initiative and do so on their own.

I sense there is a limited time for those in power to start loosening the extreme restrictions or people are going to start ignoring parts of the rules.

At a deeper level, the concern I have is what’s referred to as the “social contract.” Government gets its authority from consent of the governed.

If a large number of people get to the point of concluding the rules in places like California and Virginia are unnecessarily severe and are causing more health, mental, social, and economic damage than they prevent, people will conclude our leaders have broken the contract.

If we get to that point, respect for law and respect for public officials will decline. That is not a good place to go.

Next two articles point out a small number of people who have already reached that conclusion:

4/20/20 – Daily Wire – “Social Shredding”: Defiant Residents Grab Shovels, Dirt Bikes After Cali Authorities Dump Tons of Sand In Skateparks For ‘Social Distancing’ – Officials in San Clemente California noticed teenagers were committing the grave sin of skating in the city’s skate park. Well, that is patently unacceptable, so the city dumped 37 tons of sand into the skate park in an effort to shut down the skating. Since the park is at the beach, sand was readily available.

Well, the city officials did not take into consideration the incredible level of creativity present in humans, especially Americans.

Continue reading “The shutdown will be relaxed, one way or another.”

Some background data for oil in North Dakota provides insight for the production info.

Drilling rigs have become more productive in recent years. In the past, say before 2014, the number of rigs directly tied into production levels. Now, with a variety of technologies, such as multi-well pads for example, the drilling time is down so the wells per rig are up.

A far lower number of rigs is needed to keep new well production rolling.

Rig count since 2010:

Continue reading “Details behind North Dakota oil production.”

I was on active duty in the U.S. Air Force a mere four years. I never got within 3,000 miles of hostile action against American forces. To top it off, my small contribution was decades ago.

As a result, I am squeamishly uncomfortable accepting the appreciation when someone tells me “Thanks for your service.”

It took me a few years to get to a place where I could accept those comments.

I now graciously and proudly accept those expressions of appreciation from my fellow Americans, not because of what I did so long ago, but on behalf of all those soldiers, sailors, marines, and airmen who do not have someone looking them in the eye, shaking their hand, and saying “thanks.”

So for all those troops pulling alerts, standing watch, scheduling logistics, or taking fire, please know that vast numbers of Americans are grateful for your service.

I pass on to you their thanks.

You are there, not here, so many people have thanked me instead. It is you they are really thanking.

While today we remember with gratitude those who did not return, I hope those who are serving today hear the appreciation.

Several fun updates on the wide open frontiers of technology and private space flight.

First, I’m an accountant that talks to bookkeepers, accountants, and church leaders all day when I’m not sitting at a computer. So it is really cool to look at how stuff is made. Check out the incredible technological capacity and refined skill needed just to make scuba tanks.

Making a Worthington X-Series Steel Scuba Cylinder

[youtube=https://youtu.be/Z8R-I5I1Dgo?t=193]

Then ponder the incredible knowledge that had to be accumulated to make all that happen. Wow.

Hat tip to Beyond the Black. (Link to video: youtu.be/Z8R-I5I1Dgo?t=193)

Drones

Continue reading “Updates on wide open frontiers – 9/15”