These cults consist of impressionable twenty-somethings who get turned loose on the Internet by their mid-50s to mid-60s handlers. They will insist that you're a Kenynesian or worse, a Marxist, if you fail to goose step to the agenda set forth by their handlers.
I've written about Reason.com already in these works:
- REASONOIDS OF REASON.COM, AMERICA'S CRYPTO-REPUBLICANS
- WHOA DUDE, WHAT? LEGALIZING ISN'T LIBERTARIAN? PASS ME THE BONG. GOO GOO GOO JOOB.
- DO REASON.COM "LIBERTARIAN" EDITORS SUPPORT RAPE AND MOLESTATION OF TEENS AND YOUNGER-THAN-TEENS?
- GO FREE-RANGERS GO! FREE-RANGERS AND REASON.COM
- OBSESSED WITH ALL THINGS ME, THE LOSERS AT REASON.COM WHINE OVER ME OWNING REAL ESTATE IN THEIR MINDS
Now it is time to take on Mises.org. Mises.org is a little more than a superstitious cult.
The Cult of Mises has been made by a guy named Lew Rockwell. Like L. Ron Hubbard who invented the Cult of Scientology, Lew Rockwell cleverly tapped into the discontent some Americans feel about contemporary political and commercial life. Some implicated Lew Rockwell as a racist ghostwriter of the infamous Ron Paul Newsletters.
Because of fear and anguish over their lives, many have looked for someone who can act as a father-figure to explain why things are the way they are. Such behavior is typical of those who fall susceptible to cults. Lew Rockwell's Mises.org gives them their father-figure they seek.
Because of fear and anguish over their lives, many have looked for someone who can act as a father-figure to explain why things are the way they are. Such behavior is typical of those who fall susceptible to cults. Lew Rockwell's Mises.org gives them their father-figure they seek.
Rockwell built his cult around two guys, a failed academic named Ludwig von Mises, an Austrian immigrant, and his disciple, Murray Nathan Rothbard, a New York City Jewish son of ardent communists.
Rockwell even has not one but two bibles for his cult, the Old Testament of Mises and the New Testament of Rothbard. The Cult of Mises Old Testament book has the title Human Action. The Cult's New Testament book has the title Man, Economy and State.
For Miseans in the Cult of Mises, Mises is their Moses. Rothbard is their Paul.
Mises earned a degree in law and came to America though he could not get work as an economics professor. NYU administrators let him teach but never paid Mises. A board of trustees member had to dig into his own pocket to give Mises private subsidy, in essence.
For much of his life, Mises was little better than a sociologist. Much of Mises preaching and writing revolved around socialism.
Both Mises and his disciple, Rothbard, were talking shop academicians who never worked in commercial enterprise in their lives. Mises and Rothbard made many errors because of being lifetime academicians neither ran any business much less a profitable one. Without proper entrepreneurial experience, Mises and Rothbard lacked referential experience to understand how capital works.
Rothbard and Mises suffered from a slew of false beliefs about commercial banking. Neither Rothbard nor von Mises understood commercial banking.
Mises did not understand banking, at all. In his lecture, Mises said, “The best proof that inflation, the increase in the quantity of money …” and thus Mises believed, wrongly, that an increase in the quantity of money is inflation. Mises could hold this false belief only if he did not understand banking, which is quite clear that he did not.
As well, Mises did not understand interest whatsoever. Mises spewed a silly, false theory around time preference to explain interest. Mises swallowed hard on a giant waste of time, the work of Eugen von Böhm-Bawerk. His “originary interest” amounts to off-the-deep-end foolery.
Here is what Carl Menger, the founder of the Austrian School of Neoclassical Economics had to say on Böhm-Bawerk’s theory of interest that provided the basis for all of Mises' thought:
“The time will come when people will realize that Böhm-Bawerk’s theory is one of the greatest errors ever committed.” ~ Carl Menger
In five minutes, you can read my work that disproves Mises' work on interest — see: INTEREST, CAPITALISTS AND FUTURISTIC TIME COPS.
Rothbard was paid by taxpayers and thus collected what amounted to high-paying welfare to work as a college professtor at the University of Nevada. Rothbard so confused himself about commercial banking that he believed there was double claims on deposits.
Anyone who knows about Commercial Law knows that a banker is a trader who buys cash and debt by selling bank credits. In a purchase and sale, a customer, known as a depositor sells property in cash or receivables to a banker and buys property in bank credits.
With property in bank credits, the bank customer has a right of action to demand an amount of cash from his banker at a future date. Evidences of such right includes checking account bank statements and passbook savings books. In commercial banking law, a deposit isn't a depositum, but actually a mutuum in law of a purchase and sale of cash for deposits.
In a deposit transaction, which is truly a mutuum, so-called depositors buy bank credits and sell cash, other bank credits or debt in a purchase and sale. Depositors get deposits as evidence of their right of action against bankers when in a purchase and sale, selling their cash, other bank credits or debt.
There are no double claims. Bankers own deposits. Depositors own rights of action.
Rothbard was paid by taxpayers and thus collected what amounted to high-paying welfare to work as a college professtor at the University of Nevada. Rothbard so confused himself about commercial banking that he believed there was double claims on deposits.
Anyone who knows about Commercial Law knows that a banker is a trader who buys cash and debt by selling bank credits. In a purchase and sale, a customer, known as a depositor sells property in cash or receivables to a banker and buys property in bank credits.
With property in bank credits, the bank customer has a right of action to demand an amount of cash from his banker at a future date. Evidences of such right includes checking account bank statements and passbook savings books. In commercial banking law, a deposit isn't a depositum, but actually a mutuum in law of a purchase and sale of cash for deposits.
In a deposit transaction, which is truly a mutuum, so-called depositors buy bank credits and sell cash, other bank credits or debt in a purchase and sale. Depositors get deposits as evidence of their right of action against bankers when in a purchase and sale, selling their cash, other bank credits or debt.
There are no double claims. Bankers own deposits. Depositors own rights of action.
The leaders of the Misean Cult like to associate Mises with what has been called the Austrian School of Neoclassical Economics.
The Austrian School has been defunct for decades upon decades. The founders of the school all died long ago. Menger, Böhm-Bawerk and von Wieser are all dead.
At one time, the Austrian School was known as The Psychology School. The entire theory of the school was predicated on pseudo-scientific psychology never proven in reality and not needed at all to explain the trade of property in purchases and sales in the pursuit of profits.
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