Bloomberg reports that since November, the government has spent, loaned, or guaranteed 12.8 trillion, an amount very close to one year’s GDP – one year of everyone’s income, or $42,105 for every man, woman, and child in America.
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 stop walking along it. If, on the other hand, this …
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 walking along it. If, on the other hand, this goes …
The crisis explained
I have been seeing a lot of references to “a speculative bubble†Nope. They were not speculating. The crisis consisted of people, mostly members of protected minorities with nothing to lose, buying houses they could not afford with borrowed money in the expectation that they would go up, and if they went down, it was the bank’s problem. So the people who bought houses were taking no risk, since mostly they bought them with 100% loans, had no credit rating …
Racefail 09 explained
Constantinople drew my attention to “This way lies fascism†which explains the conflict of which Racefail 09 is part. The left claims authority to convict people for thought crimes committed in other people’s dreams. The hearer can find an offensive meaning without concern for authorial intent, and the author is guilty regardless of his intended meaning. This leads to conflict, Racefail 09 being part of that conflict. Under Racefail 09 rules, you have no obligation to understand other people’s intended …
The problems with Laissez Faire sexuality
In traditional society, women were strongly encouraged to refrain from sex before marriage, and marry responsible men with good jobs who were able and willing to support a family. Today, women are encouraged to follow their hormones, which tends to result in them have offspring with a long succession of sexy males who disappear, often into jail or dying violently, and who often rough them up and steal their money before leaving. Bryan Caplan correctly argues that the non traditional …
Why Racefail 09 hates John Scalzi
John Scalzi said he wanted to have absolutely nothing to do with the racefail 09 debate, and would ban anyone who brings the debate to his blog. This non statement, and non communication, caused intense outrage, resulting in massive attack on John Scalzi, since all good leftists have to enthusiastically agree with the correct line, and failure to join the chant about the badness of various people under attack is itself a great and terrible sin. One of the posters …
Racefail 09
Hear the sound of the left ceasing to be the smart party, and becoming the stupid party: On the Livejournal science fiction blogs, there is, or recently was, a passionate debate called Racefail 09, wherein lots of bloggers accuse other bloggers of being racists. Those accused of racism are those that are very left wing and very politically correct – they are those least likely to be guilty, most likely to be devastated by the accusation, and least able to …
The crisis has barely begun
“Naked capitalism†explains what has happened, and observes that the Bush-Obama policies caused it, are causing it, and are likely to cause a lot more of it. Government guarantees will be abused – and the broader the guarantees, and more chaotic the situation the more they will be abused. The solution is that existing guarantees must be reduced, and existing government initiatives curtailed or at least allowed to expire.  Extensive state intervention is extremely difficult to do right, easy to …
Obama plans massive permanent reduction in US standard of living
Under current USA nuclear regulations, you cannot launch any new nuclear projects unless the waste is going to go to a federally approved repository, and Obama has announced there is not going to be a federally approved repository. Hence no new nuclear projects. Obama has also announced that carbon emissions are going to be reduced sometime soon, though not yet. If less carbon, then less coal and oil. If no new nukes, and less coal and oil, then less energy …