Archive for December, 2008

Another Victim of “Single-Payer Health Care” »

The British National Health Service has claimed another victim. Despite a phone call and note from a doctor stipulating that a critically ill patient, Stewart Fleming, be given immediate care, the staff of Medway Maritime Hospital in Gillingham, Kent, kept him waiting for six hours. By the time they finally got around to treating...
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The Best Stimulus Right Now? »

Writing in the Wall Street Journal on December 23, Robert Lucas expresses approval of the Fed’s latest reduction of its target range for the Federal Funds Rate to approximately zero, calling it “welcome.” Lucas notes that this policy does not leave the Fed without the ability to inject additional reserves into the banking system,...
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Calvin and Hobbes on Bailout Subsidies »

When President George W. Bush was recently interviewed on CNN regarding the economy, he left us with another “Bushism” that will likely go down in history along with the economy his interventionist policies are destroying, “I’ve abandoned free-market principles to save the free market system.” Bush incoherently believes that corporatism (e.g., the bailouts) and...
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Eartha Kitt RIP »

Eartha Kitt not only had talent (see, for example, her scene-stealing performance in St. Louis Blues) but fearlessly spoke truth to power. In 1968, while at a public White House lunch, she properly embarassed Lady Bird Johnson by declaring “You send the best of this country off to be shot and maimed....They rebel in...
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The Fed versus the Banks: Who Will Blink First? »

During recent months, the Fed has flooded the banking system with reserves, which the banks have chosen to accumulate as (legally) excess reserves, rather than using the funds to add to the volume of their outstanding loans and investments. The Fed’s recently adopted policy of paying a small rate of interest on bank reserves...
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Most Absurd Statement Ever Made? »

In the spirit of Christmas, I have been striving to regain my faith in humanity. I want to believe again, as I did in my childhood, that people are better than cockroaches or staphylococci. For a while I was making progress. On Sunday, I enjoyed a magnificent performance of Handel’s Messiah at Carnegie Hall (featuring my stepdaughter...
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Christmas and Liberty »

In an era of increasing situational ethics of bailouts, foreign wars, and massive frauds public and private, we lovers of liberty would do well to stop and heed the call to put Christ back in Christmas, acknowledging and giving gratitude for the bedrock source of the principles we hold so dear. There’s no reason...
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Fair Weather Friends of the Market »

It’s hardly a news flash that many people who are widely regarded as lions of the pro-market side have gone over to the dark side in recent months. I am not going to name any names; if you are one of the guilty parties, you know who you are; and the rest of us know, too,...
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Cry Wolf: A Political Fable »

By pure luck, I stumbled into author Paul Lake, the poetry editor of First Things, and then read his novel Cry Wolf: A Political Fable. Cry Wolf is a 21st-century update on George Orwell’s Animal Farm. Political correctness, upside-down notions of “fairness,” and the prodding of the sophistical Owl (“the Professor”) lead the orderly...
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Arnold Should Return to Hollywood »

When Arnold Schwarzenegger ran for governor in 2003, his supporters touted his independence, outsider status, and inspiring life story as the quintessential American dream. His detractors mocked his inexperience, but he indeed stood as a great example of what was possible in America. This immigrant worked tirelessly and rose to the top in the...
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