Beautiful. At the same time that President Obama is wagging his finger at Wall Street for their year end bonuses and auto executives are being harassed for flying on private jets, the Democratic-led congress just gave each lawmaker an extra $93,000 in petty cash to spend. They say they need it to help their constituents [...]
Archive for January, 2009
31 Jan
GM Is Using $1 Billion of Its Bailout Money In Brazil
Saving American jobs… South American jobs. You just can’t make this stuff up… GM is using $1 billion of its bailout money to invest in Brazil. Your tax dollars at work– The Latin American Herald Tribune reported: SAO PAULO — General Motors plans to invest $1 billion in Brazil to avoid the kind of problems [...]
31 Jan
Faith in Free Markets – According to Mr. Bernanke
Federal Reserve Chairman Ben Bernanke considers it to be time for more fund transfers to the coffers of struggling financial institutions here in the United States. The details seem to be basically more of the same proposed solutions from the fall of 2008. If you are interested in reading some of his thoughts as portrayed [...]
31 Jan
Keynesianism Is Not Good for You
Take a break and watch a cigarette commercial There was a time, some 50–60 years ago, that many people thought smoking was good for you. Today we know that this was just an excuse we liked because it provided cover for what we wanted to do: smoke. Today, people smoke anyway even though we know [...]
31 Jan
False Hopes for Tax Relief and Fiscal Stimulus
Public opinion is behind tax cuts. In a recent poll, 58% of Americans said they would oppose a new fiscal stimulus program if it did not include tax cuts. While it is natural that Americans should want tax cuts, we should be careful about the methods we choose to achieve that goal. Tax cuts have [...]
31 Jan
The Misesian Case against Keynes
I – Classical Economic Theory It is my goal to reconstruct some basic truths regarding the process of economic development and the role played in it by employment, money, and interest. These truths neither originated with the Austrian school of economics nor are an integral part of only this tradition of economic thinking. In fact, [...]
31 Jan
Military ‘pledge for Obama’ a hoax (or is it?)
‘Satire’ apparently not based on actual plan A recent Internet report that a battle was shaping up between the U.S. military and the White House because of executive plans to have soldiers pledge allegiance to the president instead of the nation and its Constitution raised alarm among the patriotic this week. But it didn’t seem [...]
31 Jan
What critics missed about treasury chief
Geithner presided over Wall Street collapse as regional Fed president NEW YORK – While the nomination of Treasury Secretary Timothy Geithner generated plenty of heat because of his failure to pay income taxes for five years, almost unnoticed amid the controversy is the fact that he presided over the failure of some of the largest [...]
31 Jan
Obama, Dems continue Rush Limbaugh attacks
New ads link GOP opposition to ‘stimulus’ to radio talk icon Rush Limbaugh and Barack Obama on Limbaugh’s website In what many see as a foreboding sign about what Congress and President Barack Obama will try to do with the so-called “Fairness Doctrine,” Democrats are continuing their attacks on talk radio icon Rush Limbaugh over [...]
31 Jan
On Bearing Arms
“A well regulated Militia being necessary to the security of a free State, the right of the people to keep and bear Arms shall not be infringed.” –Second Amendment, United States Constitution “The right of the citizens to keep and bear arms has justly been considered, as the palladium of the liberties of the republic; [...]
