National Bankruptcy

Back in the U.S.S.A.

Harry Browne, the former Libertarian Party candidate for president, used to say: "€œthe government is great at breaking your leg, handing you a crutch, and saying "€˜You see, without me you couldn’t walk.’"€ That ...

National Bankruptcy

Got Property?

"€œCrony capitalism"€ is a term often applied to foreign nations where government interference circumvents market forces. The practice is widely associated with tin-pot dictators and second-rate economies. In such a system, support ...

National Bankruptcy

Obama Should Tell Cali to Drop Dead!

During the height of New York City’s financial crisis in the 1970’s, President Gerald Ford had the good sense to turn down Mayor Abe Beame’s request for a federal bailout. The refusal prompted the famous New York Post ...

National Bankruptcy

Who, Me?

When, during the invasion of Iraq, the United States Government issued its famous deck of playing cards with the 52 arch villains of the Iraqi police state, Saddam Hussein’s face adorned the Ace of Spades. If the Obama ...

National Bankruptcy

Maxed Out

With much fanfare this week, Congress and the Administration began a series of actions designed to protect over-leveraged consumers from the high fees imposed by credit card lenders. As with most other initiatives devised by government, ...

National Bankruptcy

War Socialism

The key thought that underlies Obama's recovery plan is simple. The cure for severe recession lies in trying to "€œgrow the economy."€ Spending and investment have fallen off; the government, accordingly, must take up the slack. By ...

National Bankruptcy

Presidential Consent

In a speech this week summarizing his administration’s economic policies, President Obama grossly overstated the support these policies enjoy by claiming, “economists on the left and right agree that the last thing the ...

National Bankruptcy

Generational Theft

Bush saw a terror crisis and spent like there was no tomorrow. Obama sees an economic crisis and spends pretty much the same. Conservatives are rightfully saying “no” to Obama’s “generational theft.” But ...

National Bankruptcy

Common Sense Bye-Bye

Apart from the obvious financial distress that the current economic crisis has inflicted on most Americans, perhaps one of the more irksome byproducts of the meltdown has been the inescapability of clueless economic blather. It’s ...

National Bankruptcy

Let’s Play Pretend!

When elementary school kids want to escape the confines of their circumstances they pretend to be pirates, princesses, and Jedi knights. Now, with the relaxation of “mark to market” valuation rules announced on Thursday by ...

National Bankruptcy

The Fable of the Drones

In Mandeville's infamous "€œFable of the Bees,"€ that witty writer makes the case that private vices generate public virtues. Specifically, he argues that the craving for gain, advancement, and luxury drives men to economic ...


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