Bernanke and Obama's advisors are wrong: deflation did not threaten the US economy : It is now impossible to discuss Obama's 'economic policy' without referring to the Great Depression, and that is as it should be. But if the lesson of the 1920s and the 1930s had been properly understood there would be no financial crisis today and no Obama. As he is clearly ignorant of these events, and the controversies they gave rise to, and has no apparent inclination to learn, I fear the US and the rest of the world is in for a very interesting four years
The economy is in recession and it's getting worse : That our economic commentariat is still wondering whether Australia will "go into recession" is proof positive just how clueless they are. The recession is here and it's going to get worse. And all they can do is harp on about wage rates. No wonder our economic commentary is so bad
Industry fails on the wages and jobs: Government's Fair Work Bill is a recipe for permanently raising the unemployment rate. The response of the Australian Chamber of Commerce and Industry to this destructive legislation was feeble and lacked substantial economic understanding of the of the ruinous consequences of this bill
Hollywood leftists, their blacklist and their treason: There is also the little matter of the Hollywood leftwing blacklist, the one we never hear about. Those who were on this list were anti-communists who suffered for their beliefs. Things are no better today. The Hollywood left is not only as every bit as vicious as it was in the 1930s it is now more powerful than it has ever been
Obama's coming green tsunami: Obama is going to unleash a green tsunami across America even though there is now compelling scientific evidence suggesting the earth is on the brink of entering another Ice Age. The Belfast Environmental Minister stated flatly that 'Spending billions on trying to reduce carbon emissions is one giant con that is depriving third world countries of vital funds to tackle famine, HIV and other diseases'. Good. As far as the greens are concerned, the less people the better
Israel's farcical election war : Israel is able to end terrorism within the country quite easily. However, the biggest problem Israel has is the Israeli government and its chronic unwillingness to deal with the core source of the problem: Israel has lost its vision
Why does there need to be a 'Palestinian' state? Part I: It is simply a historical fact that there was no Palestinian Arab socio-political-cultural distinction in all the twelve centuries since the Arab conquest in the Seventh century. The birthplace of the Jewish people is the Land of Israel. A significant part of the Hebrew's long history is recorded in the Bible. Their cultural, religious and national identity was formed in the land now known as Israel and their physical presence has been maintained through the centuries
New law could keep books away from children: "A federal law that will soon go into effect could have some startling consequences, including the possible banning of children from libraries unless certain books are pulled from the shelves. The law is called the Consumer Product Safety Improvement Act and it is designed to protect children all over the country from the dangers of lead.Experts said there could be trace amounts of lead in books because of the ink. That's why the government wants all books, old and new, tested for lead. . The law goes into effect on Feb. 10. After that day, all products for children under 12, including books, games, toys and even clothing, must be tested for lead.Critics argue lead testing is expensive. For a book it could between $300 and $600. `We just can't afford to do that, and most of the tests would destroy the books. So, we just think this is crazy,' said Emily Sheketoff, of the American Libraries Association."
Whose money is it, anyway? "Barack Obama claims that the House of Representatives' new stimulus plan is needed to save the economy. Democrats promise to be `creating or saving of four million jobs.' News media report in all seriousness: `The democrats vow no earmarks or special projects will be attached to the bill. The focus is on jobs.' Also `more than 90 percent of the jobs created are likely to be in the private sector.' Unfortunately, though, the $825 billion 'stimulus' package has nothing to do with creating or saving jobs - it has everything to do with moving jobs from industries that Democrats don't like to industries that they do. The 'stimulus' package is just a wish list of every government program that liberal Democrats have long wanted. As Rahm Emanuel, Obama's Chief of staff, announced after the election last fall: Rule one: Never allow a crisis to go to waste. They are opportunities to do big things."
"Decider" or "dissident?" "In 2007, Bush made the surprising comment to an Egyptian pro-democracy activist that he, too, often felt like a `dissident' in Washington. His bureaucracy, he said, was not responsive to his policy of promoting democracy. `Bureaucracy in the United States does not help change.' As Presidential Command chronicles, Bush was not the only president in the modern era who believed his government to be unresponsive to his wishes. Like Jimmy Carter during the Iran crisis, Bush came face-to-face with the reality that execution of policy is in the hands of the permanent government."
A congressman makes sense : "Have I stumbled upon an alternative universe? There is a congressman actually making sense. Well, to be more precise, he's not yet a congressman, he's Congressman-Elect Jared Polis, a Democrat from Colorado. Polis is a supporter of voter initiatives and has personally been involved in state ballot measures. He says the initiative process in Colorado and elsewhere `doesn't work perfectly' but that it is `far better that we have one than that we don't have one.' That's certainly true."
Carter not so bad????: "Carter is the most underrated modern president - in fact, he usually gets bad reviews. Yet people have trouble remembering many specifics about why he was so awful. You cannot have prosperity and liberty if you are always at war. Whereas other recent presidents have seemed oblivious to this fact, the Vietnam experience seems to have made Carter realize it. Carter consciously used military power reluctantly and only as a last resort. The founders would have been pleased. He also gave the Canal Zone - a U.S. colonial chunk of Panama - back to its rightful owners. On the domestic front, Carter did make some mistakes, but he also inherited stagflation caused by the Vietnam War and past presidents' poor economic policies. At first, he made it worse but then nominated Paul Volcker as Chairman of the Federal Reserve. Volcker restricted the money supply and drove inflation out of the economy; and this tight-fistedness contributed greatly to the prosperity of the Reagan and Clinton years. (Regrettably, it was disastrously abandoned in the George W. Bush era.) In addition, Carter was able to reduce government spending as a portion of GDP and increase economic efficiency by deregulating the transportation, communication, energy, and financial services industries."
The minimum wage, discrimination, and inequality : "One of the things that first attracted me to economics is that its logic leads us sometimes to counterintuitive conclusions. A perfect example of this is the regulated workplace. The minimum wage raises incomes for some workers and lowers incomes for others. Workplace safety regulations advantage those who are very risk averse at the expense of those who are willing to accept higher risks in exchange for higher incomes. Laws against `child labor' benefit the relatively well off at the expense of the needy."
For more postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, SOCIALIZED MEDICINE, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena
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The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)