Daily Archives: 24 November 2011

Man catches 881-pound tuna, seized by feds

open quoteA Massachusetts fisherman pulled in an 881-pound tuna this week only to have the federal authorities take it away. It sounds like a libertarian twist on the classic novella by Ernest Hemingway, The Old Man and the Sea, but for Carlos Rafael, the saga is completely true.

Rafael and his crew were using nets to catch bottom-dwellers when they inadvertently snagged the giant tuna. However, federal fishery enforcement agents took control of the behemoth when the boat returned to port. The reason for the seizure was procedural: While Rafael had tuna permits, fishermen are by law only allowed to catch tuna with a rod and reel.

. . . .

In an interview with the Standard-Times of New Bedford, Rafael disputes the claims from the National Oceanic and Atmospheric Administration’s (NOAA) enforcement division that the humungous tuna was trawled from the bottom of the Atlantic. “They didn’t catch that fish on the bottom,” he said. “They probably got it in the mid-water when they were setting out and it just got corralled in the net. That only happens once in a blue moon.”

And while Rafael is denied the mother of all fish stories, the federal impoundment of his catch also means he’s probably losing out on a giant payday. A 754-pound tuna recently sold for nearly $396,000. NOAA regulators do not share any of the proceeds from the fish’s eventual sale with a fisherman found in violation of federal rules.

“They said it had to be caught with rod and reel,” a frustrated Rafael said. “We didn’t try to hide anything. We did everything by the book. Nobody ever told me we couldn’t catch it with a net.”close quote (Read more)

The Last Time the U.S. National Debt Decreased: 1957

Happy Thanksgiving!

This year, I feel thankful for having discovered the Austrian School of Economics and the true meaning of liberty.

It frees me from thinking, for example, that the national debt,

$15,051,852,998,637.98 as of November 23, 2011

is my fault or my problem. It is not. It is the fault of psychopathic politicians and the problem of the millions of people who’ve become depended on their handouts and their brutality.

It is only my problem to the extent that our politicians will try to steal as much as they can from me to delay the consequences of their irresponsibility.

Knowing the rules of the game feels empowering. I can proceed honestly and without delusion. I can make more honest calculations about risk and reward.

***

Historical Debt Outstanding – Annual 1950 – 1999

The first fiscal year for the U.S. Government started Jan. 1, 1789. Congress changed the beginning of the fiscal year from Jan. 1 to Jul. 1 in 1842, and finally from Jul. 1 to Oct. 1 in 1977 where it remains today.

To find more historical information, visit The Public Debt Historical Information archives.

09/30/1999 5,656,270,901,615.43
09/30/1998 5,526,193,008,897.62
09/30/1997 5,413,146,011,397.34
09/30/1996 5,224,810,939,135.73
09/29/1995 4,973,982,900,709.39
09/30/1994 4,692,749,910,013.32
09/30/1993 4,411,488,883,139.38
09/30/1992 4,064,620,655,521.66
09/30/1991 3,665,303,351,697.03
09/28/1990 3,233,313,451,777.25
09/29/1989 2,857,430,960,187.32
09/30/1988 2,602,337,712,041.16
09/30/1987 2,350,276,890,953.00
09/30/1986 2,125,302,616,658.42
09/30/1985 * 1,823,103,000,000.00
09/30/1984 * 1,572,266,000,000.00
09/30/1983 * 1,377,210,000,000.00
09/30/1982 * 1,142,034,000,000.00
09/30/1981 * 997,855,000,000.00
09/30/1980 * 907,701,000,000.00
09/30/1979 * 826,519,000,000.00
09/30/1978 * 771,544,000,000.00
09/30/1977 * 698,840,000,000.00
06/30/1976 * 620,433,000,000.00
06/30/1975 * 533,189,000,000.00
06/30/1974 475,059,815,731.55
06/30/1973 458,141,605,312.09
06/30/1972 427,260,460,940.50
06/30/1971 398,129,744,455.54
06/30/1970 370,918,706,949.93
06/30/1969 353,720,253,841.41
06/30/1968 347,578,406,425.88
06/30/1967 326,220,937,794.54
06/30/1966 319,907,087,795.48
06/30/1965 317,273,898,983.64
06/30/1964 311,712,899,257.30
06/30/1963 305,859,632,996.41
06/30/1962 298,200,822,720.87
06/30/1961 288,970,938,610.05
06/30/1960 286,330,760,848.37
06/30/1959 284,705,907,078.22
06/30/1958 276,343,217,745.81
06/30/1957 270,527,171,896.43
06/30/1956 272,750,813,649.32
06/30/1955 274,374,222,802.62

06/30/1954 271,259,599,108.46
06/30/1953 266,071,061,638.57
06/30/1952 259,105,178,785.43
06/29/1951 255,221,976,814.93
06/30/1950 257,357,352,351.04

From www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm