Is Debt Alone a Threat?

The recent flow of funds data released by the Fed shows that a level of private debt continues to soar. For instance, home mortgages as a percentage of disposable income rose to 97.9% in Q2 from 97% in the quarter before. The non-financial debt-to-nominal-GDP ratio stood at a record 2.1 in Q2 the same figure as in the previous quarter.

Tattletaling on the Highway

I-565 is a splendid 8-laned, limited access highway we Huntsvillians enjoy due to the generosity of US taxpayers. We feel especially buoyant as we cruise this expressway since most of the cost was extracted from Kansas, California, Maine, etc. taxpayers. There’s nothing so sweet as stolen fruit. Well, it can be rationalized. You never know when some sharing Kansan may visit our fair town and enjoy the benefits of his tax money. Sounds fair to me. Besides the thrill of something for nothing, it’s an exhilerating fun ride because the billboards are unusually entertaining.

Shortages, Bloody Shortages

Mihai Sarbus writes that in Romania the home of Vlad Dracula their hospitals are running out of blood. The number of people volunteering to donate blood has declined steadily in recent years. Health-care professionals fear that joining the European Union will bring crisis-level blood shortages. Why? European regulations forbid any kind of remuneration for this service. Socialism and blood donation are not a good mix.

The Vice Squad: Now At A Store Near You

My wife and I were going to have some friends over so we picked up some snacks and a case of beer. When it was time to pay, the cashier asked to see not only my ID but also my wife’s ID. This was puzzling; it had not happened before in places where we had lived before.

At first I thought that it would a new “progressive” store policy, but something didn’t feel quite right. Thus, we decided to ask the cashier about it.

How Long Must Iraq Hell Last?

Noah Feldman endeavors to show that America has a moral duty to continue its military occupation of Iraq. He does not say that the war itself was a good idea, writes David Gordon. Quite the contrary, the very fact that American forces have made a mess of things leads to their obligations to the Iraqis. If American troops departed, Iraq would probably fall into chaos and civil war. To prevent this dire outcome, America must guide the Iraqis to democracy. But let us ask a more fundamental question: Why does the state have to be rebuilt at all? Why won’t an agreement between the leading protection agencies suffice for social order?
Subscribe to