Too Many Lawyers, Again

Recently, on Fox Business Channel, hostess Alexis Glick asked an exchange trader for his views of recent actions directed at the US economy by the central government. In response he invoked the old cliche about there being too many lawyers in society. In summary, the disgruntled trader said that too many lawyers, without any training in or knowledge of economics, were making legislation and policy initiatives affecting the economy. He added that as far as he was concerned, this was the greatest problem in America today. I sympathize with this trader and agree with him as far as his statement goes, but the problem to which he only alluded runs … Continue reading Too Many Lawyers, Again

Dwindling Minorities

Two major stories of last week reveal how a stubborn adherence to the doctrine of collectivism by political leaders can paralyze both thought and action when they are confronted with certain facts and circumstances, which could otherwise be dealt with in a relatively straightforward manner. The stories are to be found domestically in US health care “reform,” and in foreign affairs in the Iranian civilian protests. The questions at issue are: for US legislators, “How do ‘we’ pay for health care ‘reform?’” and for those concerned with White House politics, “Should the President make more forceful statements of support for … Continue reading Dwindling Minorities

Community Regulator

Former community activist and President of the United States, Barack Obama has released his plan for “re-regulation” of the market place for the financial industry. As usual, accepting no responsibility on behalf of government for the “sub-prime” lending mess that precipitated the latest recession, the President leveled criticism at market participants instead. He referred to “a culture of irresponsibility” and in proposing a new consumer financial protection agency basically endorses the position of community activist groups which malign the sources of mortgage loans as “predatory lenders”. The provisions of the new rules reaffirm the long-standing central government policies of urging … Continue reading Community Regulator

Keynesian Health Care

John Maynard Keynes, the economist who provided academic justification for statists to spend money and distribute political favors may have offered those same statists a solution for the high cost of health care too. Keynes was the theorist who argued that deficit spending by government was necessary during recessions, which he said were caused by the inherent instability of markets. The government by his calculations would be the great stabilizer, making full employment possible. President Obama’s economic advisors and others like Nobel economist Paul Krugman, a columnist for The New York Times are so taken in by Keynesianism that the … Continue reading Keynesian Health Care

Miles of Smiles

That pesky little appeal to the Supreme Court on behalf of disenfranchised parties in the Chrysler bankruptcy turns out to have been just a minor bump in the road for the driver behind the wheel of Obama Motors International. There have been others. If he looked in the rear view mirror, poised on cruise control, he could see laid to waste an array of secured creditors, non-union workers, disenfranchised small business and taxpayers: just so much road kill. Forget them. Forget the rules of the road. Forget the laws of the land. Let’s roll. Going forward, Mr. Obama insists that the automobile companies will … Continue reading Miles of Smiles

Hope and Democracy

Mullahs who actually run the Iranian regime of terror must be decidedly and perversely amused by some Western observers’ comments concerning recent elections. Anyone who thinks that a truly uncorrupted democratic poll took place in the 85 percent voter turnout is self-delusional. Would anyone have any more confidence in the “victory” of Ahmadinejad, in a near 63 percent landslide, if Jimmy Carter had been there as an election monitor? He provided this service in 2006 for the Palestinian elections and Hamas, and later for the election of the communist dictator Daniel Ortega in Nicaragua. As much as these earlier results … Continue reading Hope and Democracy

This Time It’s Different

Blithely comes one Barack Obama to Green Bay, Wisconsin to talk about reforming health care in the United States, home to the most advanced system of medical and health care in the world. Those savvy folks in Wisconsin probably have internet access so they could have reviewed the President’s imperatives on his web-site. Of course it does help Obama and the anticipated Democrat dynasty to propose the spreading of “loaves and fishes” while at a “town hall” meeting. The ever eager media frisson which accompanies such events represents lots of additional publicity to promote the fantasy of utopia. What does … Continue reading This Time It’s Different

Size Matters

 “The era of big government is over….” (President Clinton, State of the Union Address, January 23, 1996) “Too Big to Fail” Doctrine (Origins in the “essentiality doctrine,” a 1950 amendment to the Federal Deposit Insurance Act of 1934) “Size Matters” (Origin unknown, but probably rooted in the science of Physics) US President Barack Obama in his inaugural address said, “The question we ask today is not whether our government is too large or too small, but whether it works….” Mr. Obama is right in so far as the foregoing statement appears, however it was clear from the rest of his … Continue reading Size Matters

The “Czar Czar”

US President Barack Obama is appointing another “Czar” to serve at his pleasure. This time it is a “Pay Czar,” who will oversee compensation matters relative to the many new government-controlled enterprises and bailed-out firms, which is fast becoming the real “growth industry” in America: i.e. corporatism, industrial policy or economic fascism. The recent count is apparently now up to 18 such non-cabinet posts. The executive practice of appointing aides with cabinet level authority has been utilized by the White House for some time and it fell to considerable criticism when George W. Bush was serving. Most of the justifiable … Continue reading The “Czar Czar”

Goodnight Grasshopper

Like the fictional character Kwai Chang Caine he portrayed in the early 1970’s television series, Kung-fu, David Carradine appeared to wander through life in search of meaning. The usual indicators were there: 4 divorces in 5 marriages, periods of alcohol and narcotics addictions plus an interest in Eastern philosophies that seemed to indicate a reluctance to separate from his portrayal of a Shaolin priest. The series episodes depicted the oriental figure imparting wisdom from the mysterious East (and roundhouse kicks) to Western cowboys. After 3 years of the program, Carradine quit because he thought the scripts were starting to be … Continue reading Goodnight Grasshopper