US Debt and The Age of the Universe

The size of the US debt has been a growing concern for most citizens. Every new spending measure enacted piles on more debt.

Recently, it occured to me that the size of our debt is about 1,000 times larger than the age of the universe.

The US national debt is approximately $13,325,000,000,000.
The age of the universe is approximately 13,700,000,000 years.

In other words, if we spent about $1,000 a year, every year, since the beginning of time, we would have a number about the size of our national debt.

Or suppose you spend $2.66 a day, every day, since time began, then you will have matched our national debt.

Something to think about.

Cwik on Mises.org

Here is a link to my article that appears on today's Mises.org.

The title is "Social Insecurity."

I hope you like it.

Introduction to Austrian Economics is Posted (Now Complete!!!)

FEE has now posted all four of my lectures on Austrian Economics. Here are the updated links.

Introduction to Austrian Economics
Lecture #1: Menger and the Early Austrians

This lecture covers the thoughts and ideas that found the Austrian School of Economics. It includes the work of Carl Menger [1840-1921], Eugen von Böhm-Bawerk [1851-1914], Friedrich von Wieser [1851-1926], David I. Green [1864 - 1925], Philip Wicksteed [1844-1927], and William Smart [1853-1915].
The link for the audio page is here.
You will also find the link for the PowerPoint on the same page or you can directly access it here.

Lecture #2: Methodology
To my delighted surprise, this lecture received the most attention by the students. It starts with a brief discussion of the Methödenstreit. It then critics Modern Positivism/Empiricism. Finally, it presents the Misesian Praxeological view and the relation between theory and history.
The link for the audio page is here.
You will also find the link for the PowerPoint on the same page or you can directly access it here.

Lecture #3: Capital and Interest
This lecture begins with the questions posed by Böhm-Bawerk. It then provides an introduction into Austrian Capital Theory and the Structure of Production. It then presents the traditional Austrian theory of interest. And then draws comparisons between the Austrian view and the Neo-Classical view of capital and interest. A proper understanding of capital and interest theories is critical to understanding business cycle theory.
The link for the audio page is here.
You will also find the link for the PowerPoint on the same page or you can directly access it here.

Lecture #4: Business Cycles
This lecture is a more advanced presentation of the Austrian Business Cycle Theory. In the tradition of Roger Garrison, extensive use of graphs is made. The lecture then demonstrates how that simply adjusting the money supply, adjusting prices, or spending money to boost aggregate demand are all inadequate to create an economic recovery. The key to an economic recovery is liquidation of malinvested capital and creation of new and proper capital structures.
The link for the audio page is here.
You will also find the link for the PowerPoint on the same page or you can directly access it here.

A License for what...?

Here was a nice story about a lady who has decided to feed many Hummingbirds. However, during the story, my jaw hit the floor. It's at about 1:13. See if you can catch it.

It's where she says, "Of course, you know, I have to have a license to buy sugar. They think I'm bootlegging or something."
What?!?! The State of North Carolina says that you have to get a license to buy sugar?!?! Are you kidding me?
The erosion and loss of Liberty...