My Quest for Truth and Liberty
Posts tagged Federal Reserve
Holiday Special on Economics Tutoring!
Dec 6th
I’m feeling pretty generous right now, so I decided to offer a special deal on the tutoring rates. If you aren’t really sure how it would go and don’t want to commit to anything, I will give you two weeks of tutoring absolutely free. You email me at econtutor(at)savannahliston(dot)com and tell me what you’re interested in. Maybe something like, “you know, I don’t really understand all of this about QE2 and the Fed…what is it all about?” Or “I had to read part of The Wealth of Nations for school and I don’t know what to think of Adam Smith and his economic ideas.” Or “I didn’t really like economics in school, and I know that what the government tells us is all wrong. Can you give me a quick overview of Austrian economics, the foundation of it, and what makes it different from other schools of thought?” The possibilities are endless. Really. And you will get 4 hours of one-on-one teaching and discussion about these topics. I will give you some recommended reading, maybe even draw up a course plan so you can keep pursuing your topic of interest. As we progress and encounter new questions or confusion, I will do the research to figure it out and present the material to you in a way that makes sense to you and is, to use my favorite word, “intuitive.”
Warning: I probably won’t feel this generous after Christmas, so I recommend that you take me up on the offer soon. We don’t have to start until after Christmas if you’re busy over the holidays, but to make it count, you have to email me before Christmas and say you are interested and want to take me up on the offer. What is there to lose?
The Price of the Housing Boom
Dec 6th
Yesterday we were driving through what we call the “West Side” of Rockford. This is the place you really wouldn’t like to drive through late at night. This the place where you wouldn’t want to stray from the main road but just get through as fast as possible. We’ll be driving through there quite often now (it is our new route to church) and so I wanted to make some sort of lesson out of it for the girls. I pointed to the crummy run-down apartments and said that was probably a result of rent control. I explained how making drugs illegal just creates more violence and ruins more lives. Then we talked about welfare and how that has affected these places. But then my mom pointed out how it used to be that these sorts of people lived only on the “West Side.” If you were well-off and had saved enough money, you could buy a nice house in a good part of town. Now I’m always hearing stories about thefts, shout-outs, drug dealing, and the rest in the really nice neighborhoods. Why? Perhaps because the housing boom has made it so easy for people to get luxurious homes, when they haven’t really earned it. It used to be that someone growing up on the West Side had the opportunity to get a good job, keep out of gangs, and become a better and more responsible person. Banks would see that this person was responsible, had a good chunk of savings, and they would loan money to this person to buy a nice house in a nice part of town. They could leave behind the crime of their childhood and start a new life. If they really were nice people, the neighbors in this new neighborhood would be happy to see them there. They would be a benefit to the community, maybe shovel the driveway of some little old lady in the winter and mow her lawn in the summer. But what has happened during the boom? Someone could show up at the bank and ask for a loan for a huge and fancy house on the “East Side” and they’d get it. Especially if they were a minority, since the liberals had forced banks to loan out more to low-income people and minorities. So you’re living on the East Side, you’ve worked hard to get to where you are. The place where you live is a sign of who you are, that you’ve done well in the life, are responsible, etc…and someone shows up and buys the house next to you. Instead of offering to shovel your driveway they start dealing drugs. They haven’t left that behind them, they’ve brought it with them. They have loud annoying parties all night. Sometimes there might be drive-by shootings. And you spent a fortune (your own fortune too, not someone else’s) to reach this position, only to have neighbors who deal drugs.
Note: I don’t have a problem, morally, with people who deal drugs. I mean, it is just a voluntary exchange in the “free” market. I wouldn’t do it, and I wouldn’t encourage anyone to do it, but I really can’t stop legitimately stop someone from doing it. The problem is that since drugs are illegal, dealing drugs comes with a very high price to those around you. Let’s say you’re dealing drugs from the house next to mine on the “East Side” and you don’t keep your agreement to some customer. They can’t take you to court. So they come shoot at your house and maybe raid it. And I’m your neighbor, I’m going to have to deal with the consequences of that as well. I didn’t choose to live next to drug-dealers, I wanted to get away from all that, and then (thanks to the government and the Fed) you can buy a house right next to me.
Thanks to the housing boom, there is no longer any distinction between those who have earned a nice house and those who have one handed to them. And this is having terrible consequences for everyone who lives in such places.
Me? Oh, I get 160 acres all to myself (and my family) and don’t have to worry much about neighbors dealing drugs. Oh, the joys of country life!
What’s New?
Nov 30th
So you’ve probably noticed some slight changes on the site.
I’ve decided to switch my focus from teaching an online class to online tutoring. Why? This is the way of the free market. I’ve concluded that perhaps teaching a full semester of economics may be too daunting for some and the time commitment too great. If you sign up for it before December 13th, I may still teach it, but with such a small group as I have right now, it really isn’t worth the work I’ll have to put into it. So what’s this online tutoring all about?
Instead of expecting students to conform to the same curriculum, time-length, difficulty of study, etc…I will be teaching students individually and developing a course plan unique to them. It might just be a month of study on the Federal Reserve. Then in a few months you might want to learn more about Keynesian economics and why it is so bad. We might study that for a month or two, depending on your time and interest. It might be just a summer project when school is out, maybe studying the business cycle.
Why might this interest you?
- With the amount of information provided online by the Mises Institute, it is sometimes hard to determine exactly what will be useful to your particular needs, and it is difficult to stay focused on one topic. “Hey, I was going to study the history of economic thought but here’s a lecture on environmental economics that looks really neat.” Having someone help you do the research and decide what materials to cover will help cut down on wasted time and allow you to focus on whatever area interests you most.
- If there’s no accountability it is easy to fall behind and not accomplish things. “I’ve been meaning to read Human Action for the last 6 months, but I just keep reading the first chapter over and over.” With someone there to help you reach goals and provide accountability you’ll be able to learn far more.
- Instead of taking a course that doesn’t fit your needs or interests exactly, you can have a course of study that is at your level of learning, in a time-frame that works for you, and only covers the areas that you are specifically interested in. Of course, depending on what areas you want to study we may have to research other things as well, but the depth of study is all up to you. For instance, if we were going to study the business cycle that would require a solid understanding of the capital structure to see where exactly the market goes wrong during the business cycle and the real cause of it.
So that is what’s new around here. There is no “deadline” for signing up, but there are specials right now, check out this page for more details, or email econtutor(at)savannahliston(dot)com, or just comment on this post if you have any questions.
Update on Online Class
Nov 22nd
I’m sorry folks, if you missed the deadline for the discounted registration. Your only chance now is to get more than 5 people to sign up with you, and you can get the group rate of $35 per person. But I’ve been thinking about some other things too. In case you’re afraid that this class is going to be a little boring (or maybe slightly fun) but just not practical and relevant to your life, I have a solution. During the last couple weeks of the course, we will spend our live lecture time discussing current problems. After getting such a solid foundation, we can tackle some of the tough questions that we’re all dealing with right now. But the best part of it all? You get to decide what we talk about. If you are a participant in this course, then you get to decide what questions we talk about. Maybe those socialists are constantly plaguing you about some apparent flaw in the free market and you just wish you had the time to come up with a response. Then we can discuss that. If you give me the question ahead of time, I’ll do the research and give you some ideas for how to respond. And you might be tempted to ask, “can’t I skip the other lectures and just attend these Q&A sessions?” And I’d say, “actually, it would be better if you attended every lecture. You see, the whole course will be building up to these real-world problems and questions. The theories and ideas we learn throughout the course will make it possible for us to understand how the economy works now, or actually, how it isn’t working. Not only that, but if you attended every lecture and had this strong economic base, then it will be a piece of cake for you to rip apart any Keynesian propaganda, any socialist arguments, or even any Monetarist nonsense, at any time…not just during the course, but while you’re having dinner with a friend, or confronted by an activist, or watching the evening news.”
Are you convinced yet?
The Blight of Beck
Nov 18th
Have I ever mentioned how much I can’t stand Glenn Beck? He makes me sick. And very mad. Anyways, here’s an article from LewRockwell.com on how Fox News (and Glenn Beck primarily) have totally distorted the Progressive era and agenda.
Did Capitalism Cause the Recession?
Nov 18th
After hearing Tom Woods speak last night I was inspired to dig up this youtube video again. It was really cool that Tom Woods talked about much of the same things as I do in this speech. I guess that’s not surprising since I got a lot of my information from “Meltdown.” But in this video I go into more depth and look at more of the causes than Tom Woods did last night. No, it isn’t quite as funny (or near as funny, except maybe the slide about the animal spirits…) but if you need a crash course in the 1920 Depression, the Great Depression and the recession we are in now, this is the video to watch. There may be others as well…but I’m just slightly biased.
The Unfortunate Tale of One Who Turned Their Computer On and Regretted It
Nov 12th
What I mean by this is that you should turn your computer on, but don’t do it when you are up in front of an audience about to give a presentation. If at all possible, do it before then. Why? You will see the reason why in just a moment. But just to clarify, I fully support the idea of turning your computer on. It is a most useful and productive action. It just can be done at the wrong time, with bitter consequences.
Here’s a scenario that will invariably occur if you start giving powerpoint presentations. If it hasn’t happened yet, be assured…it will happen at least once, or perhaps several times (as in my case).
You have everything worked out beautifully. Perhaps right before it is your turn to speak you got your computer turned on, found your powerpoint and you have it all ready. You just have to plug that little cord into it, and you will be set. So you walk up to the front, so confident that you’ve prepared this presentation better than anyone else ever could.
And the cord doesn’t work. You and maybe some other people fiddle around with it, trying to get it to work. You keep at this for a few minutes while your audience is growing a bit restless. They are trying to be patient but are, nonetheless, restless. Finally someone says they have it figured out. Now you must just restart your computer and it will be fine.
Easier said than done.
So you push the “restart” button and your screen goes blank. Then a moment later it comes back. And here’s where it get horrible. If you are a careful person, you will have your computer password protected. And so you’ll have to type in your password, in front of all those people. And remember, your screen is now being projected on to another screen. Not just any screen, but the screen the size of a wall. And it isn’t behind your audience but directly in front of them. They can’t help but watch what you are doing. So you type in your password, wondering miserably why you didn’t pick some other more complicated one, and that maybe someone in the room has already figured out what it is. So your desktop background shows up, and then other things show up, little by little. But about the background. Maybe you have some really silly background picture. So what will they think of you now? You’re the learned expert on economics, and you have a picture of something absolutely childish and ridiculous on your desktop. (This part about the background has been made up…I can imagine it happening to someone else. I for one, have very beautiful and sensible backgrounds and so I’d never be caught in such a position. And because of that, I can’t give you an example of a terrible background to have while standing in front of an audience about to give a speech. You’ll just have to imagine the worst thing possible and insert it into the story.)
And you know how some programs come up automatically when you start your computer? You might have 5 or 6 little symbols bouncing up and down on your dock. Ahhh…if only it were that simple…but it isn’t. For all those bouncing things are going to open up. And it gets bad. Really bad. So here, on the giant screen in front of all those people, your Limewire program pops up. I have this odd impression that Limewire is the sort of program everyone uses but pretends they don’t. So I imagine all those people sitting there thinking, “Omg, that girl has LIMEWIRE??!! She’s nearly a criminal! And we’re going to listen to her talk about the criminals at the Federal Reserve? What a hypocrite!” And then the screen pops up, “Upgrade your Limewire to Premium and enjoy…” and I push the button, “no thanks.” So now they think that not only am I nearly a criminal, I’m a really cheap criminal who won’t even pay for this. Never mind that all criminals don’t pay for whatever it is they are stealing. It just makes it worse that I haven’t upgraded to the Premium. It is like I’m trying to get something for nothing. So then once I exit that screen, the list of my Limewire songs shows up. Now in all reality, the titles are probably too small for my audience to see, but that doesn’t make any difference. It feels like they are reading them, and that is what counts. “What? This economist listens to Josh Groban?? I thought she was better than that. I thought she wasn’t into all that teen girl pop music junk. She’s really just like my granddaughter! And I’m supposed to learn something about economics from her?” Yeah. Um. Okay, so I exit Limewire as quickly as possible, and hiding behind it, like a monster peering out from behind a rock, ready to eat you up, is Skype. Now, I only have about 3 Skype friends. I don’t know why. I don’t use Skype much, so I never bothered to look for other people. I know that many of my friends are on Skype, but I just never connected with them there. So you can imagine how short my list of friends is. And that is what makes it worse. If I had 346 friends on there, the audience would instantly be overwhelmed by the sheer number of names and not really see anything distinct. But with 3 friends, they are instantly drawn to the one friend with a status message because it stands out so much. And it just happens that the status of this friend is something like, “I crave pepto-bismol ice cream.” Now what will they think of me? “Wow, this girl has some really silly friends. She was so promising, but now look at her…” It is almost like I’m standing up there in front listening to an iPod and texting 23 friends at one time while browsing Facebook and MySpace.
It is so awfully awkward because I have this intense desire to explain it all to them. “People, listen. I’m not like you think. I’m really above all that. I really don’t eat pepto-bismol ice cream. And I listen to Josh Groban only once every 2 weeks. It really isn’t like you think it is. It isn’t my fault that all these things are here…” But that seems so ridiculous because I don’t actually know that they are thinking about me like that. Maybe they’re thinking, “oh, what a nice girl she is, she must really know her economics because after all, she listens to Josh Groban.” And so I can’t really assume what they are thinking and then respond to that assumption. So instead I just pretend that they aren’t looking at the screen and all that. Like at dinner when someone does something embarrassing it is just easier to pretend you never noticed instead of being drawn into the embarrassment. It is this tacit agreement that, “I’ll pretend I didn’t see, and you can then pretend it never happened.”
Now on my old PC, this is what would happen next: I’d open up My Documents, and so everyone would get to peer into my files while I was searching for the powerpoint. I usually would know exactly where it is, but after all this stress, my mind is blank and I have no clue where it is. “Okay, so she’s made a powerpoint about the Federal Reserve and she doesn’t even know where it is?? How could she have any information for us that we don’t already know?” And then I eventually find it and click on it…and it doesn’t open. I click it again, fearing that the worse is about to happen. Nothing happens. And then the screen freezes. I’m desperately clicking it with all my strength, which only serves to confuse it more and make it freeze up into a more helpless state. Soon the only recourse is for me to turn it off and start all over again…
And with my new Macbook Pro, this is what happens next: I just do a handy little search for the powerpoint, because somehow, magically, with a Macbook Pro, I remember the name of the file, and it is such a fast search too. So I click on the file, and the little podium on the dock starts bouncing. And they think, “oh, this is kinda cute! And she really knows what she’s doing!” So then it takes a moment to load, but I’m patient because, well, this is a Mac. It opens, I click play, and the intended show begins. I say “intended show” because everything up to this point has been a show, just not the one I had planned.
So that’s why you should never, ever be forced to turn your computer on when in front of an audience. It is a terrible cruelty. Especially since you are forced to go on and give your speech as if nothing ever happened, as if they haven’t just discovered you have “LIMEWIRE!!!” and listen to Josh Groban and have some friends who appear very silly.
Note: This post has obviously been taken from real life. There’s some reality in it, mixed with an abundance of my imagination. So if you are someone in this post, please don’t be offended. After some of these presentations, when I expect to be shunned, everyone is most friendly and nice, so after reflection I can see that perhaps my feelings are a bit exaggerated. Please don’t take this personally, the only person I’m making fun of in this post is me. So unless you are me (if you are me, please let me know, because that would prove that something is terribly wrong with me. No, I can’t say “me” because if you are me, than I’m not “me”…oh well, you get the point) don’t worry, I know you are very nice and not prone to judging people based on the songs they’ve downloaded from Limewire…
Take Classes from the Mises Academy
Oct 25th
They have an exciting line-up of classes available for next semester…check it out!
I have my eye on the Fed one by Bob Murphy and David Gordon’s class on logic.
And they’ve reduced the cost by 40%!
I hope to see you in one of these classes soon.






