austindefender

Criminal defense in Austin Texas.

Long-Way Round (Austin is still a car town)

| February 13, 2009

So my wife gave me the address of a house in South Austin to look at today.  The house is nice, it’s reasonably close-in, the price is right, and it’s even got a pool.  Plus (and this is important to me) it’s near Garrison Park. Or is it? Knowing Austin’s (lack of) neighborhood planning, I […]

Judge Baird v. Bill Bishop

| February 13, 2009

There’s an article in the Statesman today confirming the rumor that Bill Bishop is going to be challenging Charlie Baird next year for the 299th District Court. For the record, I’m a big supporter of Judge Baird.  I think he really cares, on a personal level, about what he’s doing, and that’s not something that […]

The Problem With Monetism

| February 12, 2009

The Quantity Theory of Money says that inflation is the difference between the growth rate of money, and the growth rate of the real economy.  Adding more money increases inflation (or decreases deflation), but has no effect on real GDP.  Inflation, in other words, is a function of the money supply. Monetism predicts that: Inflation  […]

Too Big To Fail

| February 11, 2009

NYT says that the so-called “stress tests” the Feds are considering, “could be used not only to determine which large banks would receive additional aid but also to help weed out small, unhealthy banks, hastening consolidation in the industry.” It goes on to speculate about the vast sums of money the most poorly-run, biggest banks […]

Search & Seizure, Terry Stops, and Helicopters

| February 10, 2009

Given how much time and effort lawyers and judges spend on search and seizure law, I’ve often wondered how police officers keep it all straight. Well, the truth is, all the legal opinions written about the Fourth Amendment concern a relatively small number of cases.  They concern the cases where an officer has gone beyond […]

There is no safe store of value.

| February 8, 2009

Alan Greenspan (1966): In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value… The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of […]

Inflation is Always and Everywhere a Monetary Phenomenon

| February 8, 2009

“I have never found the familiar statement that inflation is everywhere and at all times a monetary phenomenon to be a very edifying one: for the price level is the inverse of the purchasing power of money, so that by the same token one can say that the price of potatoes is a potato phenomenon.” […]

What’s Happening Next?

| February 8, 2009

Bloggers and other pundits are pretty sure we’re about to experience crippling deflation, or hyper-inflation, but they’re not sure which. According to the Quantity Theory of Money, the actions of the Fed, and of the US Treasury, ought to create a huge amount of inflation. As a visual aid, this chart represents the total borrowing […]

Why the Stock Market is a Bad Bet

| February 4, 2009

Suppose there was an economy the entire size of which was 10 trillion dollars, 1 trillion of which was made up of corporate profits.  Suppose further that corporate profits are projected to increase “over the long term” at a rate of 10% per year.  Now suppose the economy as a whole is expected to grow […]