This book contains the oddest sentence I have ever read about the current financial crisis, or for that matter about any financial crisis. John Allison, President of the Cato Institute, writes,

An excellent post by Shawn Rittenour, titled “Two Percent Economic Growth: Real or Apparent?”:

“For a minute, imagine that there was no FEMA and each geographic location was on its own, forced to use private insurance and state-level funds to rebuild after disasters.

[Snoring as a Fine Art, and Twelve Other Essays (1958)]

My first and only presidential vote was cast many, many years ago. It was dictated by pure instinct. I remember the circumstances well. Like all well-brought-up youngsters, I had been told that it was the duty of every citizen to vote — reasons not stated. I was prepared to obey in all good faith, and accordingly, when the time came, I set forth to the polls.

Popular literature attributes enormous “power” to the capitalist. However, this is far from the case.

The “fiscal multiplier” is one of the basic building blocks of Keynesian economics and the centerpiece of modern macroeconomic analysis of the effects of fiscal policy. Contrary to the impression given by Paul Krugman and other proponents of fiscal stimulus, however, there is no clear consensus among economists regarding the size of the multipliers that are used to estimate the amount of additional income created by an additional dollar of government spending (or tax cuts).

Woods is truly our movement’s best orator. His closing words at 18:51 are particularly stirring.