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Fannie Mae reports third quarter loss of $18.9 billion and requests another $15 billion in taxpayer funds. Another government enterprise comes back to the well for more, with no end in sight. Bloomberg has a summary of the results here . FNM was the organization that couldn’t do accounting properly...
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“By one measure, the government already plays an outsize role in our so-called free-market economy —and it has little to do with the recession. Economist Gary Shilling has calculated that 58 percent of the population is dependent on the government for “major parts of their income”...
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My recent post on the US Hyperinflation Coming ties in nicely with the note provided below by Chris Coyne. He quotes Beaulier and Boettke who argue (along with Adam Smith ) that facing up to our debt problems now is the proper course. In effect, they argue for the Zimbabwe solution now as opposed to...
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On several occasions ( the most recent ) I have discussed the abandonment of our Constitution and its principles as leading to the inevitable economic mess we now confront. As an example of how the Constitution no longer matters, at least in the eyes of the ruling class, the following article from the...
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The Federal government has now grown so powerful that some in this nation are taking its slightest wish to be a command. The announcement on Monday by a group of major American corporation, including Hewlett-Packard, AT&T, Tyco and others, that they will be adopting new executive compensation guidelines...
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“We can mandate whatever we want to in America. We can mandate that Coca-Cola ® come out of the cold water tap.” So said Senator Ron Wyden (D-OR) in an interview on NPR's Weekend Edition on Sunday morning, September 20, 2009. This is but one example of the sort of hubris which has...
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Welcome to my new blog here on Mises.org. It's been a few years since I've had the inspiration to speak to the world on a regular basis. When I last blogged regularly, the future looked brighter than ever as capitalism was spreading across the planet in a seemingly-unstoppable avalanche. China...
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I was looking over my posts the other day and said to myself, "Futbol Guru, you sure have become cynical." So I've been thinking about my attitude and trying to decide if I'm being fair or if I've gotten into a rut. Well it's always possible to focus on doom and gloom. My lovely...
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Limbaugh was calling it, “…the end of the Democratic Party.” And so it might have seemed in 1994 to a party awash in victory and full of the hubris that comes with it. President Clinton had overreached with his gun control measures and secret health care meetings. His past was catching...
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We tend to forget that government, politics, and economics are not the same thing. The word politics and the phrase political party don’t even occur in the U.S. Constitution or the Bill of Rights. Nor is the word economy even implied in either of these documents. In fact, George Washington, the...
Posted to
Not-a-Lemming
by
FutbolGuru
on
Mon, Feb 23 2009
Filed under:
Filed under: capitalism, government, politics, greed, selfishness, nepotism, free market, materialism, hedonism, economics
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The language of contemporary politics, and of politics in general, is fascinating to me. Mainstream politics, particularly in the media, seems to be filled with deceptive and meaningless verbiage. There are a lot of buzzwords meant to spark an emotional reaction in people, and the meaning of certain...
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For all the recent talk about a unified nation there seem to be some undeniable rifts in opinion as of lately. First a brief comment on partisanship. As I already mentioned I've been watching the stimulus package committee meetings on CSPAN and they...
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AMC. American Motors Corporation. Does anybody remember that one? They actually made some pretty cool cars. The Javelin and AMX come to mind. Forward thinking for the time, the AMX was a two-seat sports car with a 401 C.I.D. engine. Fast, good-handling. It actually competed well with GTOs, Camaros, Mustangs...
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The debate continues, among the economically illiterate lawmakers in Washington, D.C. About whether or not the Federal government should make some $25 billion available to the Detroit automakers to, supposedly, enable them to remain in business. As part of the theater surrounding this debate the Senate...
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The latest word from Treasury Secretary Henry Paulson is that he believes “we have stabilized the major financial firms” and that he does not anticipate any more failures of large companies. He has effectively declared victory in the so-called economic crisis that this nation is facing, a...