WHO WILL PAY
1. Forty years ago the typical American male retiree could expect nine more years of life. Today’s typical American male retiree can expect between seventeen and eighteen years – nearly double that of that not-so-long-ago generation.
More evidence that, in fact, ordinary Americans have become significantly wealthier since the early 1970s.
2. The Mercatus Center’s Vero de Rugy shares some data on the employment effects of ’stimulus’ spending. Bottom line: priming the private-market’s pump with all that fiscal stimulus doesn’t appear to have done much for the private-market’s dynamism.
3. OBAMA KNOWS BETTER THAN THE MARKET AND HISTORY: In 1971, fed up with the steady rise of wages and prices, Nixon had a big idea: Attack inflation by imposing strict controls on wages and prices. A federal board was created to establish guidelines and enforce compliance, on the assumption that government officials were wise enough to decide the correct price for millions of products and the right wage for millions of workers.
The main result was to prove the folly of such intervention. Nixon's own chief economist, Herbert Stein, admitted that the administration eventually had to give up because the program was "a total disaster." Among the unwanted side effects: "Cattle were being withheld from market, chickens were drowned, and the food store shelves were being emptied."
Motorists had to wait in line for hours to buy gasoline. At one point, Americans faced a nationwide shortage of toilet paper. Yes, toilet paper. Oh, and the inflation rate didn't fall. It rose.
4. BUREAUCRATS AS ARISTOCRATS: THE NEW CLASS WAR: “The old social and political divisions have given way to two new classes — rather as on the trains. Those in economy are most of us, paying for the comforts of those in first class. And those in first class are the new political class — all those who owe their advancement and their security and their pensions and their privileges not to their backgrounds or their talents, or even necessarily their political parties, but to the state and our taxes.”
5. “This shouldn’t be a surprise; it should be basic civics. . . . A massive federal government and the crushing debt it produces is exactly what the founders wanted to avoid. Thankfully, 56% of Americans have awoken to the danger of Leviathan. It’s hard to figure out what it will take to get the other 44% to comprehend it, short of total collapse.”
6. A nation which can prefer disgrace to danger is prepared for a master, and deserves one.”
–Alexander Hamilton
1. Forty years ago the typical American male retiree could expect nine more years of life. Today’s typical American male retiree can expect between seventeen and eighteen years – nearly double that of that not-so-long-ago generation.
More evidence that, in fact, ordinary Americans have become significantly wealthier since the early 1970s.
2. The Mercatus Center’s Vero de Rugy shares some data on the employment effects of ’stimulus’ spending. Bottom line: priming the private-market’s pump with all that fiscal stimulus doesn’t appear to have done much for the private-market’s dynamism.
3. OBAMA KNOWS BETTER THAN THE MARKET AND HISTORY: In 1971, fed up with the steady rise of wages and prices, Nixon had a big idea: Attack inflation by imposing strict controls on wages and prices. A federal board was created to establish guidelines and enforce compliance, on the assumption that government officials were wise enough to decide the correct price for millions of products and the right wage for millions of workers.
The main result was to prove the folly of such intervention. Nixon's own chief economist, Herbert Stein, admitted that the administration eventually had to give up because the program was "a total disaster." Among the unwanted side effects: "Cattle were being withheld from market, chickens were drowned, and the food store shelves were being emptied."
Motorists had to wait in line for hours to buy gasoline. At one point, Americans faced a nationwide shortage of toilet paper. Yes, toilet paper. Oh, and the inflation rate didn't fall. It rose.
4. BUREAUCRATS AS ARISTOCRATS: THE NEW CLASS WAR: “The old social and political divisions have given way to two new classes — rather as on the trains. Those in economy are most of us, paying for the comforts of those in first class. And those in first class are the new political class — all those who owe their advancement and their security and their pensions and their privileges not to their backgrounds or their talents, or even necessarily their political parties, but to the state and our taxes.”
5. “This shouldn’t be a surprise; it should be basic civics. . . . A massive federal government and the crushing debt it produces is exactly what the founders wanted to avoid. Thankfully, 56% of Americans have awoken to the danger of Leviathan. It’s hard to figure out what it will take to get the other 44% to comprehend it, short of total collapse.”
6. A nation which can prefer disgrace to danger is prepared for a master, and deserves one.”
–Alexander Hamilton
posted by CAROLYN at 3:39 PM
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