The Cato Institute provides an initial reaction to the ObamaCare ruling by the Supreme Court.
The complexities and deceptions of the government are impossible to fully comprehend. Programs with stated purposes are used in ways that have little relationship with their mission. Effectively, much of government is a giant slush fund with monies are shifted around by the political winds. The problem du jour rather than the cause for which money was allocated quickly takes precedent. [...]
The motivation behind “Fast and Furious” is not known. The more one learns of the program, the more incredible it becomes. The idea, transferring guns to Mexican drug cartels, is so stupid that it is hard to rationalize what might have prompted such a program. Ultimately the facts will come out, although not necessarily in a timeframe that will enable accountability [...]
Bill Bonner always provides insightful articles. Here he deals with economists in a non-flattering way. Readers of this blog know that I agree with virtually everything he says below. I have likened much of the profession to prostitutes in the sense that they sold out their principles for the grants, prestige and income available to those who support a bigger [...]
The bottom line of the SCOTUS decision on ObamaCare is that The Constitution has been effectively repealed. It is no longer controlling. The uniqueness of the US was taken away. The Rule of Law is gone. It has been replaced by The Rule of Men. Congress and the political class can, for all practical purposes, do whatever they deem proper [...]
Stockton, CA just declared bankruptcy. It is not the first, nor will it be the last, municipality to do so. As the image to the right shows, Stockton was recently considered an “All-American City.” Perhaps that is a portent for other cities who believe they are extra special. Does anyone believe that Detroit can survive much longer? The state of [...]
In another sign that matters are not going well for Democrats, consumer confidence continues to drop. According to Rasmussen: The Rasmussen Consumer Index, which measures consumer confidence on a daily basis, dropped two more points on Sunday to 80.2. The Consumer Index is down five points from a week ago, down ten points from a month ago, and down 11 [...]
Richard Vedder details the failures of the federal student loan program: If the Law of Unintended Consequences ever applied, it is in federal student financial assistance. Programs created with the noblest of intentions have failed to serve either their customers or the nation well. In the 1950s and 1960s, before these programs were large, American higher education enjoyed a Golden [...]
The scandal known as “Fast and Furious” is rapidly becoming Obama’s Frankenstein monster. For those unfamiliar with the Frankenstein literature, Wikipedia describes the work: Frankenstein; or, The Modern Prometheus is a novel written by Mary Shelley about a creature produced by an unorthodox scientific experiment. A trailer from the 1931 film is available here. “Fast and Furious” is a contrived creation, unprecedented in US history. It provided guns to criminals [...]
James Quinn provides the third installment of his series on the middle class: This is the 3rd and final chapter of my series about the destruction of the middle class. In Part 1 of this series I addressed where and how the net worth of the middle class was stolen. In Part 2, I focused on the culprits in this grand theft and in [...]
An educational tool for young and old.
Economic problems tend to be viewed as short-term problems. John Maynard Keynes disparaged long-term thinking and solutions with his famous phrase: “In the long-run we are all dead.” His retort was clever, defensive and very appealing to politicians whose time horizon is never longer than the next election. Unfortunately, while a short-term focus may be necessary in politics, it makes [...]