Henry Hazlitt and I on the Auto Bailout

“Dying industries absorb labor and capital that should be released for the growing industries.  It is only the much vilified price system that solves the enormously complicated problem of deciding precisely how much of tens of thousands of different commodities and services should be produced in relation to each other.  These otherwise bewildering equations are [...]

No liquidity problems for Lawson campaign

While every other entity in America is crying about its inability to access cash, BJ Lawson’s Congressional campaign just received a huge injection of liquidity.  Lawson, who is running for a U.S. House seat in North Carolina’s 4th district, raised over $150,000 from thousands of donors on Tuesday alone.
Many citizens across the nation feel betrayed [...]

Open bailout opposition letter to Congress

“That government is best which governs the least, because its people discipline themselves.” – Thomas Jefferson
There is a lot of hype in Washington this week, a lot of short-term thinking, but very little honest reflection and philosophically sound governance based on the long term prospects of the American economy.  Jefferson was right: our financial markets [...]

Sifting through the crap

99.9% of everything you will ever hear from a U.S. politician or media pundit is total crap. I present to you five widely discussed issues that do not matter, so that next time you hear them on the radio or television, you can say to yourself “this is pointless conversation”:

Energy policy: The energy industry [...]

If we the people leave, do they the rulers win?

“Truth is treason in the empire of lies.” – Ron Paul
The long-term economic outlook for this country is so grim–and this is well-researched and almost universally accepted–that I can hardly see myself sticking around to endure it. A free and great industrial republic has become a credit-addicted empire, propped up today not by human [...]

Does America know where its economy is headed?

As a rule, Congress will not address a difficult problem until it becomes a crisis. Former GAO Head David Walker resigned because Congress would not address what he calls “unfunded liabilities” or the “fiscal gap,” which is the growing difference between the nation’s implicit debt and its expected revenues. The sum seems destined [...]

Generational slavery

“Man has no property in man; neither has any generation a property in the generations which are to follow.” – Thomas Paine
I remember watching an episode of Oprah (though I should clarify that this is not a habit of mine) a couple of years ago, featuring a woman who had been duped by her fraudulently [...]

Comptroller General resigns: Can David Walker save America?

David Walker, the United States’ head accountant, resigned today. Why? He loves his country.
Walker’s warnings about the dangers of deficit spending fell on deaf ears in Congress, so he took his message to the streets. He appeared on 60 Minutes and Glenn Beck, but his message still didn’t take root in American [...]

Old government should be replaced

Prudence often precedes implementation of government programs, regulations, or taxes. Precaution is wise, but it does not guarantee good results. Some government endeavors, most haloed in conception, turn devilish in practice. Therefore, policymakers should scrutinize their decisions just as closely after implementation, recognizing that government and failure are seldom far apart. Unseemly [...]