My previous host (Servers and Domains) crashed on me, and despite considerable passage of time, are still down. As a result many articles are missing I hope to recover nearly all of them in the next couple of days. Recovering comments will take a little longer. I apologize for the inconvenience – and for my failure to keep adequate backups.
Month: May 2009
obamanomics
Megan nails it: the government is using its intervention in the banking system to pressure banks to give special deals to the government’s special friends.
Securitization
From the point of view of oligarchs and crony capitalists, the crisis is not that a lot loans were made to no hablo English wetbacks. The crisis is that people are rejecting securitization of debt. The Obama regime’s capitalism smashing measures are intended not to destroy capitalism, nor to install socialism, but to restore securitization of debt. This is socialism for the financiers, not for the proles: Crony socialism, crony …
Courage
A kid carrying a gun, and wearing an explosive vest, attempted to enter a mosque. It seems that though the congregation were Muslim, they were the wrong kind of Muslim. A guard tackled him. That is courage.
Galt strike or inadequate aggregate demand?
The Randian concept of a Galt Strike is that if the elite slack off, the masses will be impoverished – that countries are rich or poor according to whether the elite is productive, while the masses and resources do not matter much, except in extreme cases such as oil rich sheikdoms. There has been a large fall in GDP over the past six months: The Keynesian explanation of this fall is …