The Kickboxing Economist

“If you care about your...country, read Ludwig von Mises and the six lessons of the Austrian Economic School.” April 23, 2024 [WEBSITE]( | [UNSUBSCRIBE]( The Kickboxing Economist SEAN RING Dear Reader, It’s a peculiar sight, witnessing a menacing UFC fighter like Renato Moicano expound on the teachings of one of the world’s most renowned economists. Yet, that’s exactly what happened after his TKO victory over Jalin Turner at UFC 300 ten days ago. I’m not a UFC fan, nor am I that into mixed martial arts. But I admire athletes in general, especially those who know anything about the way the real world works. Not many do. So when Moicano’s advice hit the airwaves, I was stunned. He said, “I love America, I love the Constitution...I want to carry...guns. I love private property. Let me tell you something. If you care about your...country, read Ludwig von Mises and the six lessons of the Austrian Economic School.” Wow. Just, wow… Dr. Jonathan Newman wrote on [mises.org]( that they’d seen 50,000 downloads of Mises’s book, Economic Policy: Thoughts for Today and Tomorrow, and the hardcover copies have sold out since Moicnao’s speech. If only all athletes had such a positive influence! What’s so special about Mises’ book? It’s a series of lectures Mises gave in Argentina in 1959. The book serves as an excellent introduction to Mises's views on economic principles, with a special urgency as he encouraged Argentina to turn from dictatorship and socialism towards full liberty. The lectures cover topics such as capitalism, socialism, interventionism, inflation, foreign investment, and economic policies and ideas. Let me give you a taste of each. 1st Lecture: Capitalism Today, in the capitalist countries, there is relatively little difference between the basic life of the so-called higher and lower classes; both have food, clothing, and shelter. But in the eighteenth century and earlier, the difference between the man of the middle class and the man of the lower class was that the man of the middle class had shoes and the man of the lower class did not have shoes. In the United States today the difference between a rich man and a poor man means very often only the difference between a Cadillac and a Chevrolet. The Chevrolet may be bought secondhand, but basically, it renders the same services to its owner: he, too, can drive from one point to another. More than fifty percent of the people in the United States are living in houses and apartments they own themselves. 2nd Lecture: Socialism The fact is that, under the capitalistic system, the ultimate bosses are the consumers. The sovereign is not the state, it is the people. And the proof that they are the sovereign is borne out by the fact that they have the right to be foolish. This is the privilege of the sovereign. He has the right to make mistakes, no one can prevent him from making them, but of course, he has to pay for his mistakes. If we say the consumer is supreme or that the consumer is sovereign, we do not say that the consumer is free from faults, that the consumer is a man who always knows what would be best for him. The consumers very often buy things or consume things they ought not to buy or ought not to consume. But the notion that a capitalist form of government can prevent people from hurting themselves by controlling their consumption is false. The idea of government as a paternal authority, as a guardian for everybody, is the idea of those who favor socialism. In the United States, some years ago, the government tried what was called “a noble experiment.” This noble experiment was a law making it illegal to buy or sell intoxicating beverages. It is certainly true that many people drink too much brandy and whiskey, and that they may hurt themselves by doing so. Some authorities in the United States are even opposed to smoking. Certainly, there are many people who smoke too much and who smoke in spite of the fact that it would be better for them not to smoke. This raises a question which goes far beyond economic discussion: it shows what freedom really means. 3rd Lecture: Interventionism What is interventionism? Interventionism means that the government does not restrict its activity to the preservation of order, or—as people used to say a hundred years ago—to “the production of security.” Interventionism means that the government wants to do more. It wants to interfere with market phenomena. If one objects and says the government should not interfere with business, people very often answer: “But the government necessarily always interferes. If there are policemen on the street, the government interferes. It interferes with a robber looting a shop or it prevents a man from stealing a car.” But when dealing with interventionism and defining what is meant by interventionism, we are speaking about government interference with the market. (That the government and the police are expected to protect the citizens, which includes businessmen, and of course their employees, against attacks on the part of domestic or foreign gangsters, is in fact a normal, necessary expectation of any government. Such protection is not an intervention, for the government’s only legitimate function is, precisely, to produce security.) [“Black Pattern” Forecasting Major Market Crash]( The world’s most accurate crash indicator is flashing its most critical warning in decades. I call it "The Black Pattern". [And it is the only one that is 100% accurate at predicting a market crash.]( Ever since the 1950s… Whenever this Black Pattern has appeared, stocks have crashed – sometimes by 50% or more. And now… It’s telling us that 2024 could be the worst year you and I have ever seen for the stock market. [Click Here To Learn More]( 4th Lecture: Inflation There can be no secret way to the solution of the financial problems of a government; if it needs money, it has to obtain the money by taxing its citizens (or, under special conditions, by borrowing it from people who have the money). But many governments, we can even say most governments, think there is another method for getting the needed money; simply to print it. 5th Lecture: Foreign Investment Foreign investment meant that British capitalists invested British capital in other parts of the world. They first invested it in those European countries which, from the point of view of Great Britain, were short of capital and backward in their development. It is a well-known fact that the railroads of most European countries, and also of the United States, were built with the aid of British capital. You know that the same happened in this country, in Argentina. 6th Lecture: Politics and Ideas What had taken place? What was the problem? What was it that caused the disintegration of an empire which, in every regard, had attained the highest civilization ever achieved before the eighteenth century? The truth is that what destroyed this ancient civilization was something similar, almost identical to the dangers that threaten our civilization today: on the one hand, it was interventionism, and on the other hand, inflation. The interventionism of the Roman Empire consisted in the fact that the Roman Empire, following the preceding Greek policy, did not abstain from price control. This price control was mild, practically without any consequences, because for centuries it did not try to reduce prices below the market level. Wrap Up I bet that last one sent a chill up your spine… Of course, comparing Rome's downfall to what’s happening now is nothing new. Remember, these lectures were given in 1959! Honestly, I hadn’t read this pamphlet until I heard some big fighter tell the world to read more Mises. It’s a fantastic and easy refresher. [You can find it right here, in many html, epub, and pdf forms.]( It’s free, and if you have some free time, this book is well worth your while. All the best, Sean Ring Editor, Rude Awakening X (formerly Twitter): [@seaniechaos]( Rate this email Like Dislike Thanks for rating this content! Looks like something went wrong. Please try to rate again. In Case You Missed It… The Price of Empire SEAN RING “War is the health of the State,” Ralph Bourne once wrote. And by the looks of what Congress has just done, it seems just that. Kevin McCarthy must be laughing his ass off. What was the point of getting rid of him when his replacement was weaker? Mike Johnson was supposed to be the man who’d lead the Republicans back to the promised land. However, his worldview changed after a meeting with the CIA. Oh, I bet it did, Mike! “Ukraine is a core interest for Moscow in a way that it is not for the United States.” Remember who said that? Barack Obama. Then again, maybe he didn’t know Hunter Biden was an alleged CIA asset. $95 Billion Today From [Bloomberg]( The US House passed $61 billion in fresh aid for Ukraine on Saturday, ending a six-month political impasse during which Kyiv’s stockpiles dwindled in its war against Russia. The Ukraine aid will be combined with funding for Israel and Taiwan, for a foreign assistance package totaling $95 billion. Speaker Mike Johnson worked with Democrats and overcame fierce objections from within his own party to funding Ukraine, ultimately pushing that legislation to passage on a 311 to 112 bipartisan vote. “We did our work here and history will judge us well,” Johnson said after the vote. I never trust anyone who says anything about “history” judging them well. How the heck can they know? All this means is that this war will be dragged out, and more Ukrainians will be sent to the meatgrinder. It’s a human catastrophe. At least Johnson was transparent about this: his son is entering Annapolis this autumn, and he wants his kid out of this conflict. From [CNN]( To put it bluntly, I would rather send bullets to Ukraine than American boys. My son is going to begin in the Naval Academy this fall. This is a live-fire exercise for me as it is so many American families. This is not a game; this is not a joke. And what did Johnson’s meeting with the CIA entail? Again, from CNN: And more recently, Johnson received a key intelligence briefing from CIA Director Bill Burns, who painted a picture of the dire situation on the battlefield in Ukraine and the global consequences of inaction, according to multiple sources with knowledge of the situation. The briefing left a lasting impression, and Johnson became increasingly convinced the fate of Western democracy was on his shoulders, sources close to him said. Just what we need: another politician with a God Complex. [Are you worried about “Biden Bucks”?]( All you need to protect yourself and your money is this secret gold investment you see here. This new alternative gold currency is the perfect way for you to sidestep “Biden Bucks” while preserving your wealth at the same time. Just watch this [quick 2-minute video]( for all of the details… [Click Here To Learn More]( Captured Congress Look at this goddamned disgrace. Credit: [@Sorenthek]( Heck, I’m not even an American citizen anymore, and I’m wondering why Congress Creatures are waving Ukrainian flags in an official US building. It’s beyond the pale. Tucker Carlson was on Joe Rogan’s podcast recently and had this to say about the Congress Creatures, courtesy of [Zero Hedge]( People don't say that because they're worried about being punished. They’re worried about someone putting kiddie porn on their computer. Members of Congress are terrified of the intel agencies. I'm not guessing at that. They've told me that — including people on the intel committee, including people who run the intel committee. … It’s playing out in front of everyone, and no one cares and no one does anything about it. Carlson said. I think the reason is because they’re threatened. And if you look at the committee chairman who allowed this shit to happen year after year, they’re all - and I don’t know, people say, ‘Oh, they’re compromised or being blackmailed,’ whatever. I don’t have evidence of that. But I know them. And they have all the things to hide. I know that for a fact. It’s not a stretch of the imagination to imagine that, you know, some committee chairman who’s allowing warrantless spying on Americans to continue, or whatever abuse they’re allowing... It’s not impossible to imagine that some guy with a drinking problem or a weird sex life — and that’s very common, very common up there — that’s why they’re doing it. Because they don’t want to be exposed. … I said to somebody, a very powerful person, the other day, in a conversation in my kitchen, an elected official - holds a really senior position... But I was like, ‘All these people are controlled. They’ve all got weird s*x lives, and all these things they’re hiding, and they’re being blackmailed by the intel agencies.’ And he said, and I’m quoting, ‘I know.’ I was like, okay, so at this point, we’re just sort of admitting that’s real? Like, why do we allow that to continue?” Knowing this, it’s really easy to see why so many Congress Creatures vote against the national interest. Empire Abroad, Tyranny at Home In Murray Rothbard’s masterful essay, “War, Peace, and the State,” he writes: We cannot leave our topic without saying at least a word about the domestic tyranny that is the inevitable accompaniment of war. The great Randolph Bourne realized that "war is the health of the State." It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society. Society becomes a herd, seeking to kill its alleged enemies, rooting out and suppressing all dissent from the official war effort, happily betraying truth for the supposed public interest. Society becomes an armed camp, with the values and the morale – as Albert Jay Nock once phrased it – of an "army on the march." The root myth that enables the State to wax fat off war is the canard that war is a defense by the State of its subjects. The facts, of course, are precisely the reverse. For if war is the health of the State, it is also its greatest danger. A State can only "die" by defeat in war or by revolution. In war, therefore, the State frantically mobilizes the people to fight for it against another State, under the pretext that it is fighting for them. But all this should occasion no surprise; we see it in other walks of life. For which categories of crime does the State pursue and punish most intensely – those against private citizens or those against itself? The gravest crimes in the State's lexicon are almost invariably not invasions of person and property, but dangers to its own contentment: for example, treason, desertion of a soldier to the enemy, failure to register for the draft, conspiracy to overthrow the government. Murder is pursued haphazardly unless the victim be a policeman, or Gott soll hüten, an assassinated Chief of State; failure to pay a private debt is, if anything, almost encouraged, but income tax evasion is punished with utmost severity; counterfeiting the State's money is pursued far more relentlessly than forging private checks, etc. All this evidence demonstrates that the State is far more interested in preserving its own power than in defending the rights of private citizens. Wrap Up Ukraine, Israel, and Taiwan all get prizes from the US Treasury this week. The American people better have paid their taxes on April 15, as that’s how those other countries get paid. And if not by tax, then by inflation, as the Fed will have to print money to make up for any shortfalls. The only escape is to look out for yourself and generate the highest returns possible. Voting harder will do nothing for you. All the best, Sean Ring Editor, Rude Awakening Twitter: [@seaniechaos]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2024 Paradigm Press, LLC. 1001 Cathedral Street, Baltimore, MD 21201. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your Rude Awakening e-mail subscription and associated external offers sent from Rude Awakening, feel free to [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@rudeawakening.info. This address is for feedback only. For questions about your account or to speak with customer service, [contact us here]( or call (844)-731-0984. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. 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