What is bankruptcy? Bankruptcy is a financial state that occurs when a person or business can no longer repay its debts. In the legal sense, bankruptcy begins when a court recognizes that the financial state of bankruptcy exists. The bankruptcy court takes...
POLITICS
Obama’s Plans Will ‘Work’ — To Breed Servile Dependence
The political left-wing in America and most Democrats are hopeful, even gleeful, that “Obamanomics” might “vanquish” Reaganomics,[1] that tax-hiking, pork-dispensing schemes aimed at boosting consumption and government (a la John Maynard Keynes)[2] will displace...
Bernard Madoff is Small Potatoes Compared to the Government
Bernard Madoff has confessed to a Ponzi scheme whereby he swindled investors of billions of dollars. “In court documents, prosecutors say Madoff reported he oversaw $64.8 billion.” Multiply that staggering amount of money by 3,000, and you get roughly the...
Good Ideas vs The Constitution of the United States of America
Good Ideas During winter months, I work out 10 minutes on the treadmill and lift weights at seven stations four mornings a week. Over the years, during the spring through fall months, I racked up about 2,000 miles on my road bike. This level of exercise helps account...
Obama’s Socialist “Reforms” for American Healthcare are Impractical and Immoral
In his March 7th weekly address, Obama said this: [B]ecause we cannot bring our deficit down or grow our economy without tackling the skyrocketing cost of health care, I held a health care summit on Thursday to begin the long-overdue process of reform. Our ideas and...
What is Good Government?
Good government? Isn’t that an oxymoron? Many today believe so. Who can blame them? Our political system has increasingly become a chaotic jungle driven by competing pressure groups (“special interests”) seeking special “favours” and...
Subsidizing Bad Decisions: Government Bailouts for Homeowners in Trouble
Now that the federal government has decided to bail out homeowners in trouble, with mortgage loans up to $729,000, that raises some questions that ought to be asked, but are seldom being asked. Since the average American never took out a mortgage loan as big as seven...
Obama’s “Logic” on the Mortgage Crisis
In his “ Remarks by the President on the mortgage crisis ” on February 18, Obama stated: Our housing crisis was born of eroding home values, but it was also an erosion of our common values, and in some case, common sense. It was brought about by big banks...
Obama’s Regulatory Chief Believes in “Libertarian Paternalism”
The old joke runs, “I’m from the government and I’m here to help.” Most Americans are appropriately skeptical of such a claim, just as they are skeptical when told that they’ve won $10 million in a Nigerian lottery. But President...
Medical Progress Requires Freedom of Information
Sometimes drugs developed to treat a specific condition can have unanticipated results for the treatment of other conditions. Sometimes this is discovered by patients and their physicians as an accidental byproduct of monitoring the effectiveness of the medication....
Immigration: Why the Debate is Tragically Flawed
In a free country, it’s self-evident that there’s room for everyone. This is because free people are also, by definition,self-responsible. The only people who need to be kept out of a free country are violent criminals and others who are objective,...
Sweden’s Government Health Care
Government health care advocates used to sing the praises of Britain’s National Health Service (NHS). That’s until its poor delivery of health care services became known. A recent study by David Green and Laura Casper, “Delay, Denial and...
Is Talk Cheap? Barack and Adolf
They say talk is cheap. But in fact it can be devastatingly expensive. Among the generation of Germans who were enthralled by Hitler’s eloquence, millions paid with their lives and their children’s lives for empowering this demagogue to lead them to ruin...
President Obama Whitewashes Iran
In his address to the joint session of Congress, President Obama said that “We cannot shun the negotiating table” in conducting our foreign policy. He’s previously elaborated that “if countries like Iran are willing to unclench their fist, they...
The Antidote to Obama
In his Weekly Address yesterday, Obama said, “I didn’t come here to do the same things we’ve been doing … .” After all, Obama is for “change.” Before Obama took over the country, and even before Bush’s 2008 financial bailouts, federal, state, and local governments...
Alan Greenspan, Meet Reality (Part II)
Alan Greenspan should never have departed from Ayn Rand’s principles. It wasn’t practical: Not for him, and not for the rest of us.
Obama Seeks ‘Cure for Cancer’ — By Stamping Out Freedom
In his address before a joint session of Congress last night, Obama dictated his plan for America, to be financed and “serviced” by productive Americans. Obama will take from individuals the wealth that they created and needed for their own plans....
A Nation of Cowards?
Attorney General Eric Holder said the United States is “a nation of cowards” when it comes to race relations. In one sense, he is absolutely right. Many whites, from university administrators and professors, schoolteachers to employers and public officials...
The “Economic Stimulus” Myth
There’s no such thing as a “stimulus” to the economy. The closest you could get to that in reality would be a retrenchment of government controls and looting: de-regulation and spending cuts. But even those are not “stimuli” but a...
A Fatal Trajectory
An increasing number of recent letters and e-mails from readers strike a note, not only of unhappiness with the way things are going in our society, but a note of despair. Those of us who are pessimists are only a step away from despair ourselves, so we may not be the...
“Fairness Doctrine” Equals Censorship
A growing number of “elites,” including Bill Clinton, are calling for a return of the “fairness doctrine” to talk radio, a sure indication that Congress and the new President will soon be taking on this issue. Supporters of the “fairness...
Government Bailouts are Unjust: Let Bankruptcy Courts Take the Wheel
Is General Motors to become a brain-dead patient in a Federal bailout ward, languishing on tax-funded life support beyond all hope of recovery? Not if Congress steps aside and lets the bankruptcy courts do justice through adjudication.
Economic Miracle
The idea that even the brightest person or group of bright people, much less the U.S. Congress, can wisely manage an economy has to be the height of arrogance and conceit. Why? It is impossible for anyone to possess the knowledge that would be necessary for such an...
Upside Down Economics
From television specials to newspaper editorials, the media are pushing the idea that current economic problems were caused by the market and that only the government can rescue us. What was lacking in the housing market, they say, was government regulation of the...
The Rush To Wait
The big story last week was the incredible Congressional rush to pass a bill that was more than a thousand pages long in just two days– after which it sat on the President’s desk for three days while the Obamas were away on a holiday. There is the same...
Fresh Ideas for President Obama
President Obama, who clearly doesn’t know what he’s doing, keeps asking for new ideas. Of course, he’s only interested in socialist ones. Here are some fresh ideas from the capitalism point-of-view: Deregulate the economy across the board....
Government Medical Care Always Becomes Political Medical Care
Americans did not invent democracy. What America rightly did, for the first time in history, was institutionalize the concept of limited government–based not on majority rule, but on individual rights. Sadly, this foundation is not properly recognized and is...
Stimulus Package? The Hell with Our Constitution
Dr. Robert Higgs, senior fellow at the Oakland-based Independent Institute, penned an article in The Christian Science Monitor (2/9/2009) that suggests the most intelligent recommendation that I’ve read to fix our current economic mess. The title of his article...
Random Thoughts for February 2008
Random thoughts on the passing scene: One of the most important skills for political success is the ability to make confident assertions of absurdities or lies. The adage “follow the money” will be hard to apply in the current administration, when there is...
De-Programming Students
Letters from parents often complain of a sense of futility in trying to argue with their own children, who have been fed a steady diet of the politically correct vision of the world, from elementary school to the university. Some ask for suggestions of particular...
The National Ponzi Scheme
The U.S. Securities and Exchange Commission (SEC) was set up to combat fraudulent practices. The SEC’s website explains that “Ponzi schemes are a type of illegal pyramid scheme named for Charles Ponzi, who duped thousands of New England residents into...
Stop the Assault on our Public Markets
In a widely-circulated NY Times column (Jan 13, 2009), Bob Herbert proposes a 0.25% transaction tax on every stock trade. If this idea, which has been garnering support among politicians, passes into law, it will mark another devastating — perhaps fatal...
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