Tag: bailout
The Obama Bear Market: “Never waste a good crisis”
As reported by Bloomberg, the Dow Jones Industrial Average has not only dropped by 53.4% since its high in October 2007 but by an astounding 31% since the inauguration of Barack Obama as U.S. President, with a $1.6 trillion loss in equity and contraction of the American economy by 6.2% since he took office....
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Economic Fascism Marches On
Reporting on a February 9 Business Week article by Pete Engardio on “State Capitalism,” the National Center for Policy Analysis summarizes: Across the United States, state governments are crafting economic strategies that blur the boundaries between the public and private sectors. They are targeting specific industries and intervening in ways that go far beyond...
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The Politics of “Jobbery”: 1883-2009
One of the joys of college teaching is leading a seminar on intellectual thought. The students who sign up for this reading-intensive course earn their grade through hard work, vigorous discussion, and writing. They are the better class of student at universities that accept any one with a government-guaranteed student loan. Currently, I am...
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Big “Duh,” No. 1
Here’s a headline no one should be surprised to see: “Political Interference Seen in Bank Bailout Decisions” (Nor surprised to see Barney Frank the poster boy for such: see also “‘Saturday Night Live’ Lampoons the Bailout“)
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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President Bush’s Eulogy for Capitalism
I got this email yesterday morning from my former colleague Mark McMahon, a Rhodes legend who retired after my first year here and a wonderful mentor: I finally figured out what Bush is up to! I just couldn’t see how he could praise capitalism as he did in his recent speech on the benefits...
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More Acclaim for Higgs: New York Times and Elsewhere
Articles acclaiming the devastating analysis by Independent Institute Senior Fellow Robert Higgs in showing why federal government controls and intervention have consistently been responsible for creating and deepening financial crises, including both the Great Depression and the current financial upheaval, continue to appear in an expanding number of major media outlets. The latest include...
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GlobeAsia quotes Higgs on How Governments Cause Financial Crises
In an article in the December 2008 issue of GlobeAsia, economist Steve Hanke quotes Senior Fellow Robert Higgs and references Dr. Higgs’s monumental Independent Institute book, Depression, War and Cold War, to show how federal government policies created, deepened and prolonged the Great Depression, killing off the chances for recovery until after World War...
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“Saturday Night Live” Lampoons the Bailout
In a recent sketch, NBC’s “Saturday Night Live” (SNL) superbly and hilariously lampoons the $700 billion bailout and the foolishness, deception, and hypocrisy of many of those who support it. However, according to the Los Angeles Times, NBC has since pulled the original version of the segment from the SNL website apparently as a...
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The Data Don’t Justify Financial-Market Panic
As the hysteria has grown in the discussion of financial markets and related government policies, I have been puzzled by the discrepancy between the best available data and the descriptions quoted in the press—statements by financial gurus, traders, and professors, as well as by government officials. To hear these spokesmen tell the story, you’d...
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  • Catalyst
  • MyGovCost.org
  • FDAReview.org
  • OnPower.org
  • elindependent.org