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Archive for October, 2008
An Offer They Couldn’t Refuse

I haven’t seen much commentary on the truly frightening account in last Wednesday’s WSJ, “At Moment of Truth, U.S. Forced Big Bankers to Blink,” of the meeting between Paulson, Bernanke, and crew and the heads of the major banks the government is (partially) nationalizing. “We’re from the government. Here’s our purely voluntary offer.” Yes, of…
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Republicans Don’t Even Pretend Anymore

After requesting a $7 billion loan from the U.S. Treasury, Governor Schwarzenegger is likely relieved now that the state has been able to secure $6 billion in loans from the credit markets. Politicians had feared California’s credit history would make such a loan difficult. But the fact is, the loan was not nearly difficult…
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Church Women Greatest Threat to Mugabe?

The International Herald Tribune reports that a protest group comprised of 60,000 church women, led by Jenni Williams, may be Zimbabwe President Robert Mugabe’s ultimate downfall. Williams leads these “seamstresses, maids, vegetable sellers and hair dressers onto the streets … [to] sing gospel songs, carry brooms to sweep the government clean (a figurative gesture,…
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Words of Hope from Henry Manne

Some bailout wisdom from the great Henry Manne: Still, there is a glimmer of hope left to those who detest this seemingly inexorable slide into socialism or its first cousin, the super-regulatory state. That glimmer comes from the ghosts of Adam Smith, Milton Friedman and Friedrich Hayek, who still haunt the halls of the…
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Nero at His Worst

When Justice McReynolds read the dissenting opinion in the Gold Clause Cases in the Supreme Court in 1935, he was almost beside himself with rage, departing from his written text to utter such ejaculations as “the Constitution is gone” and “this is Nero at his worst.” If only James Clark McReynolds were here today…
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Paulson’s War Against Shame

Conservatives have rightly blamed the welfare state for weakening the formerly strong stigma which had kept the poor independent of government. In The Tragedy of American Compassion, for example, Marvin Olasky faults Frances Fox Piven, Michael Harrington and other leftists for waging a “War Against Shame” during the 1960s that created more welfare dependents….
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Blog Action Day: Poverty

Today is “Blog Action Day;” here’s an apparent mission statement from the official website: “Today thousands of bloggers will unite to discuss a single issue—poverty. We aim to raise awareness, initiate action and to shake the web!” I’ve been telling people for weeks that economists are the wet blankets of the world, so keeping…
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Another Way in Which Bush Is a Wilsonian

Wake up and smell the fascist roses, my fellow Americans. The so-called free-market fundamentalists the people elected in 2000 and 2004, are now moving quickly to eliminate any remaining vestiges of capitalism from this country, and from other leading industrial countries, as well. (The moves are being coordinated by the governments of the G-7 countries,…
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Robert A. Taft and The Case Against NATO

As McCain and Obama call for admitting Georgia and Ukraine to NATO, it is worth remembering that another candidate who opposed creation of that alliance in the first place, once came within a hair of winning the Republican presidential nomination. His critique still makes sense today. In 1950, Senator Robert A. Taft of Ohio…
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Krugman’s Bizarre Comparison

According to a news report about Paul Krugman’s selection to receive the Nobel Memorial Prize in Economic Sciences: Commenting on the global economic meltdown, Krugman told a news conference in Stockholm by telephone from the United States that some of his research was linked to currency crises and related issues. “This is terrifying,” he…
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