Clearing a path to affordable living

Markets are most advantageous to individual participants in a state of perfect competition, where we find fair wages, fair prices, and fair opportunities.  Perfect competition is unattainable in any market. However, this does not mean our society should not strive to attain it.  With the passing of Sherman Anti-Trust legislation in 1890, Congress first recognized [...]

Patriotism and Partisanship in America

“I do not believe that any two men, on what are called doctrinal points, think alike who think at all.  It is only those who have not thought that appear to agree.” – Thomas Paine
“I am a Democrat.”  What does this mean?  “I am a Republican.”  What does this mean?  Does anyone even know anymore?
I [...]

Government submits to God, who wants to leave us alone

This story is, of course, fictional.  If you see this headline in the newspaper tomorrow morning, you will need to pinch yourself–and if that does not wake you–realize that you have in fact died and gone to heaven.  As I imagine it, there are no tax collectors in heaven.  Upon entry into heaven, I could pick up the [...]

Letter to the regulatory proponent

“Despite the long term damage to the economy inflicted by the government’s interference in the housing market, the government’s policies of diverting capital to other uses creates a short-term boom in housing. Like all artificially created bubbles, the boom in housing prices cannot last forever. When housing prices fall, homeowners will experience difficulty as their [...]

Stealth bailouts and the Washington Mafia

You’ve been hearing about the Bush/Paulson plan for “streamlining” or “revamping” the “outdated” regulatory system.  Let me take the spin off of this story for you:
 The plan is to allow the Fed to do whatever the hell it wants to, injecting taxpayer money into whatever irresponsible bank needs it for the time being.  After the liquidity pressures [...]

The birth of a new Republican party

Throughout the primary season, Republican activists have been turning out in droves to denounce the mistakes their own party has made under the reign of President Bush.  The Republicans who elected Bush in 2000 supported a platform of non-interventionism, lower taxes, less spending, more individual freedom, and smaller government.  Bush delivered almost exactly the opposite. 
Republican [...]

Federal Homeowner Preservation Corporation: a blank check from taxpayers

Bank of America announced it will acquire Countrywide, universally thought to be a toxic mortgage corporation, for $4.1 billion on January 11, 2008. This action gave Bank of America about 20% of U.S. market share in the mortgage loan industry. On February 23, the New York Times blew the whistle on a confidential proposal being [...]

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 [...]