My prediction is for high unemployment, high inflation, or both.
Category: politics
You are probably a federal felon
There are a lot of laws, indeed they are growing so fast that not only can they not be read by legislators, but with in creasing frequency not even printed, existing only in electronic form, no longer practical to commit to paper. Further, many of these laws are deliberately overbroad for the convenience of prosecutors Thus for example Krister Evertson was convicted of abandoning hazardous waste – notwithstanding the fact …
One more crazy murderous totalitarian pal of Obama’s
I conjecture that Obama, and Obama’s science czar, is enabled by people like Larry Summers, who can find no end of rationalizations along the lines that Reverend Wright and John Holdren are moderate reformers who want reasonable and moderate changes in our lifestyles, not withstanding the fact that these guys are screaming their heads off that they are fanatics who want to totally smash our way of life. Coalition building is a lot easier if you maintain total delusion about your allies.
Speaking power to truth
If an economist wants to get places, he had best tell politicians and bureaucrats what they want to hear. The danger is that if says it often enough, he will himself come to believe it. Larry Summers is an economist. When Bush was in power, he believed in Bushonomics, which got him into trouble in an academic environment of rigid, mindless, and unthinking left wing orthodoxy. Now, however, it seems …
The universal government white paper:
In short, the white paper tells us: Politicians are of course entirely lily white and innocent, except that the other party allowed bad people in the private sector to do bad things. Some regulatory agencies failed to do enough. Solving the problem requires more power to the government. Those regulatory agencies that failed the worst, will get the largest increase in money and power.
Creating the next crisis:
In a free market, financiers who take stupid risks lose money, and cease to be financiers. The core of the Obama Bush interventions is to ensure that financiers who take stupid risks continue in business and continue in charge of other people’s money. In the Washington Post, Obama’s chief financial advisers explain their program: In theory, securitization should serve to reduce credit risk by spreading it more widely. But by …
“The Goode Family†is not funny
The Goode family are too nice and sincere to laugh at. Where is the liberal fascism and liberal totalitarianism? Observe that the kid gets away with defining his ethnicity as “African American” (he is white from South Africa) while in real life the kid from South Africa who pulled that stunt got expelled from college. The only funny character is the dog, because he is rebelling against the family veganism …
Worshippers of the Obamessiah start to wake up
The New York Times almost gets it right: Obama’s Ersatz Capitalism What the Obama administration is doing is far worse than nationalization: it is ersatz capitalism, the privatizing of gains and the socializing of losses. It is a “partnership†in which one partner robs the other. Close but no banana. It is crony capitalism, which at its more socialist extreme is fascism, the corporate state, where business and the citizen …
Smashing capitalism
President Barack Hussein Obama tells us: Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty. This reads like something out of “Atlas Shruggedâ€. I predict fifty percent inflation or so over the next three or four years – and that is if we eventually turn back from this course, or at least …
Geithner’s plan explained
President Barack Hussein Obama tells us: Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty. This reads like something out of “Atlas Shruggedâ€. I predict disturbing inflation or so over the next three or four years – and that is if we eventually turn back from this course, or at least stop …