Archive for November, 2008

Congressional Missed Tackles Cost Taxpayers the Game »

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke testified before a congressional committee today. Their performance was nothing short of dazzling; not since the days of Elroy “Crazy Legs” Hirsch has anyone seen such footwork. Hirsch, you’ll recall, became renowned for his amazing style of running with the football. After one game,…
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Adrian Rogers on Free Lunches »

There aren’t any. The late Adrian Rogers is one of several iconic former pastors of Bellevue Baptist Church in Memphis (Full disclosure: my wife and I are members). He had a wonderful ability to state complex principles in clear, concise, vivid language. I got this quote via email earlier today; it’s a pretty clear…
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Melancholy Days for Investors »

My wife tells me, don’t watch. But like the passerby who cannot avert his eyes from the roadside debris and injured persons in the aftermath of an automobile accident, I can’t help myself. I keep checking the movements of the stock markets. I still have some investments in stocks, even though I switched the bulk of my stockholdings…
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Onion News Network Satirizes the Bailouts »

The Onion News Network has recently and incisively parodied the utter foolishness of the escalating campaigns for monstrous, federal government bailouts. In The Know: Should The Government Stop Dumping Money Into A Giant Hole? For the authoritative examination of how federal policies are responsible for directly creating the financial crisis, see the recent Independent…
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World Leaders Meet, Pretend They Have a Clue »

As we consider the world’s rulers, one question overshadows all the others: are they fools or charlatans? Having thought about this question for nearly half a century, I lean toward the view that they are both. If the masses were to arrive at this answer, of course, the entire apparatus of legalized robbery and abuse…
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Danny Kaye’s Musical Tribute to the Income Tax »

One of the best illustrations of Randolph Bourne’s dictum that “War is the Health of the State” was the rise of the modern income tax during World War II. Before 1942, the tax covered only a small well-off minority. As the federal government lowered the brackets and raised the rates during the war, however,…
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The TARP Is Dead, Long Live the TARP »

Think back. Think far, far back into the past. Think all the way back to the last week of September 2008. Historians tell us that at that time many Americans took leave of their senses. Despite all the evidence of their own eyes, ears, and noses, they became persuaded that the world as they had…
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Government Encourages Greater Moral Hazard by Banks »

I received a notice today from the commercial bank with which I do business, as follows: You may have heard recently that the U.S. Congress approved an increase in FDIC coverage to up to $250,000 per depositor, per institution until December 31, 2009. It is possible to qualify for more than $250,000 in FDIC coverage at…
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An Answer to Critics: “Krugman’s Prescription for Disaster” »

Feel free to join the dialogue over at the blog of Historians Against the War.

Stabilize This, Stabilize That »

Consider the word stabilize. It has a comforting ring, does it not? It calls up as a mental background, however, images of something that is currently unstable. Airplanes may become unstable shortly before they crash; teenage boys are said to have become unstable shortly before they gunned down their teacher and fellow students; unstable economies give rise to…
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