Archive for April, 2013

My letter in The Record (April 20) about the anti-gun violence rally in Bergen County

20 Apr

Anti-gun rally likely to miss the mark

The upcoming Bergen Coalition to Prevent Gun Violence rally on Sunday is an attempt by well-meaning individuals to address a serious problem in our society. However, the approach is naive and counterproductive.

The coalition says that the majority of people “support common sense legislation to prevent homicides, suicides and mass murder.”

One sure way to reduce “gun violence” in America is to decriminalize such drugs as marijuana and narcotics. In one stroke, gang violence would end in inner cities, where heavily armed drug dealers protect their turf, causing death and destruction in their communities.

There is another common-sense way to reduce crime in our society. Pass legislation that puts citizens and non-citizens on notice that the punishment for committing a violent crime will be deportation, not prison. No ifs, ands or buts. No more career criminals; one strike and you are out.

Lastly, the coalition ignores an important principle, which is the right of self-defense. In New Jersey, however, the only place you can exercise that right is in your own home or apartment. It is virtually impossible to obtain a concealed carry permit to protect oneself in your automobile, mall or street. That means violent individuals can prey on the rest of us. In other words, a defenseless crime victim is at the mercy of the bad guys, a fact that the coalition is comfortable with.

Murray Sabrin

Fort Lee, April 18

The writer is a professor of finance at Ramapo College and a former candidate for statewide office as a Republican and a Libertarian.

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Posted in Crime, New Jersey


A tutorial on money, gold and inflation for Paul Krugman

14 Apr

In his New York Times column, “Lust for Gold” (April 12), Paul Krugman embraces once again monetary inflation as one of the ways to create prosperity, one of the longest enduring myths in economics.  By disparaging gold as money, Krugman also reveals his lack of understanding of monetary economics.  In addition, Krugman’s support for deficit spending also puts him in the camp of George W. Bush, Dick Cheney, who said “deficits don’t matter.”  In short, Krugman as well as Republican politicians just cannot get enough of the welfare-warfare state.

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Posted in Federal Government, Federal Reserve, Warfare state, Welfare state


The New Exodus: S.O.S.

07 Apr

In my last post I pointed out that savers should be earning about 4% interest on their savings accounts in banks or in money market mutual funds (MMMF).  Instead, because of the Federal Reserve’s quantitative easing policy, that is, creating money of out-of-thin air that drives down interest rates across the yield curve—the interest rate depicted on a graph for short-term to long-term maturities—savers are forced to subsidize the banking sector, the federal government and corporate America as well as home purchasers and automobile buyers. Read the rest of this entry »

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Posted in Federal Reserve


Ramapo Rumble

05 Apr

You are invited to the debate of the year.  I will be squaring off with my colleague who is also executive director of the Eastern Economics Association.


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Posted in Uncategorized