Wednesday, November 17, 2010

The Liberal Mind Rejects Sad Facts

Dennis Prager

I recently devoted my biweekly column in the Jewish Journal of Los Angeles to analyzing why most Jews believe that people are basically good despite the fact that this belief is neither rational nor Jewish. In a lifetime of teaching and writing on Judaism, I have never encountered a single normative statement in 3,000 years of Jewish writing that asserted that man is basically good.

As I expected, the reaction -- apparently all from Jewish liberals -- was entirely negative. Almost an entire page of the journal was devoted to letters attacking me. One of the seven letters -- from a prominent Hollywood screenwriter -- bordered on hysteria.

The question is, why? Why would liberals in general, and Jewish liberals in particular -- given the Jews' singularly horrific history at the hands of other human beings -- react so strongly against someone who wrote that people are not basically good?

In my original article, I offered one explanation: Since the Enlightenment, the secular world has had to believe in man (or "humanity") because if you don't believe in God and you don't believe in humanity, you will despair.

But one critic opened my eyes to an even deeper reason most liberals do not acknowledge that people are not basically good. This is what he wrote: "What a sad world it would be if we all believed as Dennis Prager that mankind is inherently evil."

And this is what I responded: "I did not write that man is inherently evil. I wrote that he is not basically good. And, yes, that does make the world sad. So do disease, earthquakes, death and all the unjust suffering in the world. But sad facts remain facts." "A distinguishing characteristic of liberals and leftists," I concluded, "is their aversion to acknowledging sad facts."

Years ago, a woman writer, whose name I have unfortunately forgotten, first made me aware of this. She wrote about liberals rejecting many facts about male and female natures. She used the French expression "les faits de la vie" -- the facts of life. The left, she wrote, rejects les faits de la vie. I believe this is so for two reasons.

First, as with my correspondent above, people on the left tend to be unwilling to accept the sadness and pain that recognition of such facts creates. Leftism is often predicated on avoiding pain. That is a major reason why the left dislikes capitalism and free markets. Free markets create winners and losers, and the left does not like the fact that some people lose and some win.

This antipathy to having losers expresses itself on the micro level as well. Many liberals oppose children playing in competitive sports because they can lose -- sometimes by a big score. That is why many schools now emphasize "cooperation instead of competition." They do not want children experiencing the pain of losing, let alone losing by many points. That is also why liberals introduced the absurd idea of giving sports trophies to all kids who play, win or lose. God forbid that only the winners receive trophies; the kids who didn't win may experience pain.

Second, the left lives by theories and dogmas into which the facts of life must fit. That is why left-wing ideas are usually wishful thinking.

Though either explanation suffices, the two explanations reinforce each other. Here are four descriptive statements rejected by the left for these two mutually reinforcing reasons.

1. People are not basically good.

Leftists tend to reject this because a) It is too painful to accept, and b) it undermines the leftist dogma that people do bad because of outside forces -- poverty, capitalism, racism, etc.

2. Men and women are inherently different.

Leftists have rejected this idea because some of the differences are too emotionally upsetting to accept. Men are variety-driven by nature? Too upsetting. Women may have less yearning for, and ability in, math and engineering? Only a sexist like former Harvard president Lawrence Summers would say such a thing. Moreover, the belief that men and women are inherently different violates the left's foundational principle of equality. Many liberals admit that they reject talk of male-female differences because it can easily lead to gender inequality.

3. Black males disproportionately commit violent crime in America.

Leftist reactions to this truly painful fact are to label one who notes it a racist and to decry American society as racist because there are more black males in prison than in college.

4. The United Nations is a moral wasteland.

Since before the U.N.'s founding in 1945, liberals placed much of their hope for a peaceful world in the United Nations. That the U.N. has turned out to be an abettor more than a preventer of violence is a fact that the left finds too painful to acknowledge. And it violates the left-wing belief that nationalism is evil and internationalism is the solution.

It is generally believed that as people grow older, they reject much of the liberalism they believed in when they were young. This is true, and one reason is relevant here: As we get older, we tend to make peace with painful faits de la vie.

SOURCE

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Big government goes hand in hand with big spending -- and both are now America's big problems

Like the Democrats' health care "reform" measure, the Debt Commission's initial recommendations, which will be followed by the full report Dec. 1 contains some good ideas, but the overall template remains flawed because it fails to address the main problem, which is government that encroaches on individual liberty, personal responsibility and living within one's means.

Federal spending now costs nearly $30,000 per household, according to Brian Riedl of The Heritage Foundation (www.heritage.org). That's because, he writes, just "in the past three years, the budget has leapt by $727 billion and now stands at $3.5 trillion." And that's without the cost of Obamacare and the burden to Social Security and Medicare retiring baby boomers will add.

The Debt Commission doesn't touch Obamacare, which, says Heritage analyst Alison Acosta Fraser, will add "at least $2.5 trillion over its first real decade of implementation, when both revenue and benefit payouts are included."

The Debt Commission summary assumes a role for government the Founders never intended it to have. Where is the reminder of Thomas Paine's dictum, "The government is best which governs least," or this from Thomas Jefferson: "...the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." Jefferson also said the "fore horse" of a society's decline is public debt: "Taxation follows that, and in its train wretchedness and oppression."

Are we to pay attention and learn from the likes of Paine and Jefferson only when their thoughts affirm what we wish to do in modern times, or were these men philosophers whose ideas are sound for all time?

There is nothing in this preliminary report about the joy of liberty and the responsibility of individuals to first care for themselves, turning to government when all else has failed rather than at the start, which can only lead to dependency and subsidized failure.

Every government agency and program should be periodically re-authorized. All spending should be justified before congressional committees responsible for oversight and reduced, or ended, if it fails to fulfill its purpose. The federal workforce must be reduced as the British coalition government has proposed doing in the UK. Individuals who make wise decisions, care for themselves and refuse Social Security and Medicare (which should be means-tested) ought to receive tax breaks. The government beast must be put on a diet.

Rep. Tom Cole, Oklahoma Republican, is on to something with a bill he has introduced (H.R. 4946). He wants to "put teeth back in the 10th Amendment." Cole argues "So much of the government overreach we've seen the past few years could be prevented just by enforcing the constitutional protections we already have." His bill -- the 10th Amendment Regulatory Reform Act -- would give "special standing to certain, specific state executive and legislative leaders that would allow them to challenge in federal court regulations issued by federal administrative agencies attempting to implement new federal laws or presidential executive orders."

That's a start, but it should be accompanied by history's lessons, which have much to teach us about debt. Playwright Henrik Ibsen said: "There can be no freedom or beauty about a home life that depends on borrowing and debt." That also applies to countries.

SOURCE

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Economic and moral conservatives converging?

There was always a degree of alliance there but the Tea Partiers reveal that it is now very strong

Pat Buchanan

Other than being the highest-profile Republican victims of Tea Party candidates, what do Lisa Murkowski, Mike Castle, Charlie Crist and Arlen Specter have in common?

Other than being tea party insurgents who routed establishment Republicans in high-profile primaries, what do Joe Miller, Marco Rubio, Christine O'Donnell, Pat Toomey, Sharron Angle in Nevada, Ken Buck in Colorado and Mike Lee in Utah have in common?

The answer, writes Tim Carney of The Washington Examiner, is that all the former are pro-choice on abortion, all the latter pro-life.

Tea Party types and pro-life conservatives seem to be twins separated at birth. Carney continues: "Almost without fail the strongest advocates of limited government in Congress are pro-life and vice versa. Think of (Jim) DeMint and (Tom) Coburn in the Senate and Ron Paul and Jeff Flake in the House. They top the scorecards of the National Taxpayers' Union and also have perfect scores from National Right to Life."

Carney's point: While all Tea Party insurgents and Tea Party-backed candidates seemed to agree on the economic issues -- deficits, debt, taxes, Obamacare -- they also seem united on other issues. Looking at the down-ballot battles in 2010, being pro-life is just one of them.

Three Iowa Supreme Court judges who ruled that the state constitution requires recognition of same-sex marriages were denied retention, and Gov. Terry Branstad campaigned for giving Iowans a referendum to decide if they wish to outlaw it.

Tea Party types and Iowa conservatives were not only opposed to the idea of men marrying men, they detest the idea of judicial dictatorship.

In Arizona, Ward Connerly's anti-affirmative action initiative, which prohibits race, gender and ethnic preferences, won with 60 percent of the vote. Michigan, California and Washington have already adopted the Connerly amendment.

Tea Partiers also united to back the Arizona law that requires cops to determine the immigration status of any whom, in a routine police encounter, they suspect of being an illegal alien.

Passage of the law last April brought crazed comparisons with Nazi Germany. Opponents tended to go mute, however, when they learned that 70 percent of America stood with Arizona. GOP candidates for governor subsequently ran on pledges to adopt similar statutes.

In Oklahoma, a proposition to prohibit use of Shariah law in state courts passed with 70 percent. Shariah law is the basis of law in many Muslim countries, as the Bible was once the basis of much law in America.

What do these overlooked stories of Election Day 2010 teach?

Far more than the Beltway Right, the Tea Party is in tune with the heart of America -- not only on taxes, spending and Obamacare, but on social, cultural and moral issues. National Republicans may stay out of these bloody battles, but they hold great potential for bringing out voters and driving wedges through Obama's national base.

Consider. Establishment Republicans recoil from the issue of gay marriage. But, in 2008, while McCain was winning 5 percent of the African-American vote in California, blacks in California, urged on by pastors and preachers, voted 70 percent to outlaw same-sex marriage.

The pro-life position is also a far more popular cause among black and Hispanic Americans than is the Republican Party.

Oklahoma's prohibition against any use of Shariah law should be seen as a cry from the heart of America that we are and wish to remain a Western nation, a predominantly Christian country, and we wish to be ruled by our Constitution and laws enacted pursuant to it.

The national outpouring of support for Arizona after that state came under attack for its law requiring suspected illegal aliens to show ID demonstrates how explosive the immigration-amnesty issue is. Republicans should not run away from it, for our elites are further out of touch with the people on this issue than any other.

As for the Connerly amendment abolishing affirmative action, if the GOP wishes to win in 2012, the party will put this measure on every possible state ballot, especially crucial states like Pennsylvania and Ohio.

What this panoply of issues testifies to is the true identity of the Tea Party. These folks are not single-issue voters, and they are not motivated by pocketbook issues alone. They have seen the America they grew up in virtually vanish. Look at how far we have traveled.

We seem no longer able to balance our budgets, win our wars or secure our borders. Compared to what our culture was, it is a running sewer today. Working-class wages and middle-class incomes seem to have been stagnant for decades. Factories and jobs continue to hemorrhage to Asia. Company towns become ghost towns. Made in China has replaced Made in America. And as one drives through cities and suburbs, one encounters vast concentrations of people who speak some language other than our own.

The Tea Party people are rising up to take their country back, and that's why they're not going away.

SOURCE

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ELSEWHERE

Tea party senators stare down McConnell on earmark ban: "In a surprise reversal, Senate Republican leader Mitch McConnell (R) of Kentucky announced today that he will join House GOP leaders in voting to ban ‘earmarks’ — member projects often criticized as pork barrel spending — thus avoiding an early clash with tea party freshmen committed to ending the practice. The issue was seen as a litmus test of how far the Republican leadership would go to satisfy freshmen lawmakers and the tea party movement that propelled some of them to victory. In the past, Senate Republicans have defended their right to use earmarks, but the process has been a primary tea party complaint.”

Tax-cut extension deal takes shape on Hill: "The White House and Republicans in Congress edged ever closer to a deal Sunday on at least a temporary extension of all of the George W. Bush-era tax breaks that are due to expire at the end of the year. White House senior political adviser David Axelrod and Sen. Jim DeMint, the South Carolina Republican who has emerged as a major power broker for the chamber's ascendant conservative bloc, signaled in appearances on Sunday talk shows a willingness to cut a deal in the lame-duck session of Congress that convenes Monday. The two sides, however, remain well short of an agreement. With taxpayers facing major increases in their tax bills after Jan. 1, congressional Republicans have pressed for a permanent extension of all the tax cuts. Mr. Obama and congressional Democrats, citing what they say is the negative effects the cuts will have on deficits, want to preserve "middle-class" tax breaks while ending them for wealthier Americans."

My Twitter.com identity: jonjayray. My Facebook page is also accessible as jonjayray (In full: http://www.facebook.com/jonjayray). For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

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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)

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Tuesday, November 16, 2010

Destructive Democrat hostility to business

The Democrats running things the past two years proved they have no clue about the business of business. In their world, the real world of the private economy is an abstraction, a political figment.

Exhibit A: Along the road to ObamaCare, the party's planners inserted into the bill the now- famous 1099 provision, requiring businesses to do an IRS report for any transaction over $600 annually. No member of Congress, White House staffer or party flunky thought to say, "Oh, wow, this 1099 requirement will crush people running their own businesses. Are we sure we want to do this?" Yes, and that 1099 fiasco is a metaphor now for the modern Democratic Party.

Exhibit B: The Obama ban on offshore oil drilling. It floated out of the White House, Energy Department and EPA without anyone thinking: "Whoa, this is going to kill hundreds of working-class guys and their families."

In recent days, both President Obama and Speaker-to-go Nancy Pelosi have said that the message of the voters in the election was that they wanted jobs. To be sure.

President Coolidge was more eloquent on this truth. The American people "are profoundly concerned with producing, buying, selling, investing and prospering in the world. The great majority of people will always find these are moving impulses of our life."

But much of what this Democratic Congress did, or tried to do, was like throwing Molotov cocktails at business. It began in early 2009 with the cap-and-trade climate bill. The country was going to have to chow down its provisions no matter how many jobs got lost in Ohio, West Virginia, Michigan and other coal-using states. The bill portended so much damage to businesses in these states that some of the Senate's most liberal members had to beg off supporting it.

At his news conference last week, Mr. Obama still wouldn't rule out the EPA's impending "carbon finding" to regulate emissions, another Freddy Krueger nightmare for the average business.

The air is filling now with suggestions of what the Democrats and Mr. Obama need to do. Always mentioned is that the president needs to repair his bad relations with "business." But this is noted as just one item on the post-election to-do list: adjust the message, go to church more, reconnect with business, put up the storm windows.

The party's decoupling from vast swaths of America at work didn't start with Barack Obama. Al Gore and John Kerry ran hard against the depredations of the insurance, pharmaceutical and oil industries. The post-modern Democrats, starting at the top, convey the impression that the average company consists entirely of three guys in spats, silk vests and top hats, like the little character on the Monopoly cards, who deserve to be indicted or monitored.

And so any argument that the top marginal tax rate hits sole proprietorships and the like blows right by them. The "rich" gotta pay. They do pay, stop hiring and then they send money to American Crossroads to unelect Democrats.

As to the future, look at a map done by the National Conference of State Legislatures showing state-level party control now. The southeastern states, one of the most economically vibrant regions of the country, is wholly red. North Carolina has its first Republican senate since 1870. What's still blue on this map suggests the Democratic Party is collapsing into mostly urban, public sector redoubts—Los Angeles, San Francisco, New York, Boston, Chicago.

One might argue that what the post-November 2010 Democrats need is their own tea party reform movement. Problem is, they just had their version—the Soros-MoveOn-Daily Kos activists who threw over the Clintons and put the party firmly in the hands of the progressive House chairmen who stopped thinking about the private sector 35 years ago.

SOURCE

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Soros, the damaged man

J.R. Dunn

It will come as no surprise that Glenn Beck's broadcast biography of George Soros last week has triggered a vast brawl concerning his interpretation and treatment of the topic.

The uproar revolves around Beck's portrayal of Soros' role in the Holocaust. Beck repeats the widely-known story concerning Soros' involvement in handing deportation orders to Jewish families on behalf of the Nazis. He emphasizes that Soros was only fourteen at the time, and does not condemn the activity, asserting that the matter remains "between Soros and God".

I happen to have researched the episode in depth for my upcoming book Death by Liberalism, and I can state here that Beck's narrative is completely accurate. His treatment of it is commendable, in particular his statement that no one has a right to judge the efforts of Jews to survive in Nazi-occupied Europe.

All the same, the segment has triggered a firestorm among the usual suspects, who appear to view Soros as sharing in Obama's divine status. In a hagiographic fresco dealing with the Advent of the One, the Soros halo would only be slightly smaller than that of Obama himself. In this regard, he must be defended at all costs.

First off -- as stated above, there's no question that the incident occurred. In fact, there's considerably more to it. Soros also assisted in the collection of Jewish chattels -- clothing, furniture, and the like -- for shipment to Germany. We have this on the highest authority, from an eyewitness of unimpeachable status: Soros himself. During a 1998 60 Minutes interview, Soros admitted to the entire story without hesitation, He also stated that he felt no guilt, adding that the situation cannot be understood be anyone who was not there. Then, in what might be called typical Soros style, he concludes by comparing his cooperation with the Nazis with his later activities in the markets.

As to the import of the episode -- many of the comments draw very close to Holocaust denial. How do we know, they ask, that the Jews in question were being sent to the death camps? They could have been going anywhere "to Hawaii", one thoughtful commentator states.

The truth is simple: every Jew deported from the European ghettos went directly to the camps. Most of them were gassed immediately and then -- as the survivors put it -- went up the chimneys. There is no denying this, or eliding it, or making it mean anything else other than what it is.

On to the claim that Beck is slandering Soros as a Nazi. This type of smear is not uncommon, and is usually seen headed from the left in a rightward direction, under the assumption that both conservatism and Nazism are "right-wing" doctrines. The Prescott Bush libel is instructive here. Apparently the bank on whose board Bush sat loaned money to Nazi Germany during the 1930s. This is enough for him, his son, and his grandson to be damned from here to eternity as Nazi collaborators of the foulest type, according to the American left.

In truth, Bush was in no way involved in the day-to-day operations of the bank. He may not have been aware of the loan, he may not have voted on them, he may well not have been asked his opinion. Many international banks loaned money to Germany during that period. We can judge none of them by hindsight. In the early to mid 30s, Hitler was considered to be a strongman much like Mussolini or Ataturk, a man whose stern policies and harsh ways were required by the needs of the moment. His attacks on Jews were dismissed as crowd-pleasing rhetoric. Such lofty figures as Franklin D. Roosevelt, Rexford Tugwell, Adolf Berle, Evelyn Waugh, and Wyndham Lewis all expressed admiration for Hitler and Nazism in the early 1930s. Even Winston Churchill, Hitler's deadliest enemy, wrote that if Britain was ever caught in the same predicament as Germany, he hoped that a figure as strong as Hitler would appear to lead her out of it.

That attitude began to fade with Hitler's intervention in Spain in 1936, and vanished entirely when 1938's Kristallnacht fully revealed his monstrous intentions. Hitler's previous admirers turned away in horror, leaving only mad, capering Ezra Pound to sing his glories.

That's how such slurs work -- a nugget of fact wrapped in endless layers of distortion and innuendo. That is not what Beck is involved in. As we've seen, he retails the story straightforwardly, with no embellishment or speculation. He withholds judgment on grounds of moral discretion, and implicitly encourages others to do the same.

Then why mention the story at all? Because it's necessary. An honest portrayal of George Soros would be incomplete without it. There's an aspect of Soros' behavior that has gone unexamined and virtually unmentioned: the complete disconnect between his activities as a businessman and his ambitions as a philanthropist. Soros has, at the very least, skirted financial regulations in most or all of the countries in which he has operated. He has done worse in France, Malaya, and Thailand -- the French fined him millions, while the Southeast Asian states are reportedly very interested in speaking to him in private. He has caused enormous misery through his currency manipulations. He evidently feels no guilt concerning these matters either.

Yet this same man professes to be the greatest living champion of the "open society", the bearer of the legacy of Karl Popper (one of the few liberty-loving political philosophers of the last century), and the architect of a true people's democracy, working together with his protégé, Barack Obama.

There's something terribly wrong here. This is not the way a benefactor of humanity actually behaves. It's as if Gandhi financed his independence movement through a network of casinos, or Martin Luther King sat on the councils of Murder Incorporated. What can the explanation be?

I believe that it can be found in Budapest in 1944. The Holocaust left deep and lasting scars on all who survived it, scars that often acted to cripple their psyches for decades afterward, if not for their entire lifetimes.

It's highly unlikely that George Soros is an exception. Did the brutalization of those days find a response in buccaneer raids on the financial markets? Did the memories of what he was forced to do transform him into one of those creatures who "loves humanity and hates human beings"? Is he now little more than a shattered clockwork figure attempting in his twilight years to "do good" without the vaguest notion of what such a concept might entail?

I think the argument could be made. I await Glenn Beck's interpretation with interest. One thing we can be sure of: the left will not be any happier about it than they are with what they've already heard.

SOURCE

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Obama's Dirty Health Care Secret

One of the dirty little secrets of Obama’s health “care” debacle is that Medicare reimbursement rates are set to go down for all health care providers effective December 1. This means that the medical professionals to whom you trust your health, and, indeed, your very life, are having a 20-30 percent pay cut forced upon them in less than a month. Imagine, say, the autoworkers--or the teachers’ unions--having to take such a pay cut. The indignant outrage would be swift and immediate. The simple fact is that doctors, whose training and wisdom often stand between us and pain or death, are more important than autoworkers or even teachers.

Doctor's rates are going down to pay for ObamaCare. ObamaCare seeks to nationalize health care by placing so many restrictions and unfunded mandates on private insurance companies that they will go out of business. Government will then step in to “manage” Medicare for the entire population, rather than only the elderly. The government monopoly on health care will most surely go just about as well as the monopoly on the post office or public education. Medicare, even if kept only for the elderly population, is going bankrupt. The only question is when, not if, Medicare (along with Social Security) will run out of money.

So how is the federal government, who has been busy creating a national deficit stretching into the trillions of dollars, supposed to sustain a program for the entire population that can’t even sustain for the elderly? Obama’s supporters glaze over and mumble, “Well, it's Medicare. It cannot go away. So stop talking about it."

The psychological process required for a catastrophe to mentally "settle in" usually comes in stages. A catastrophe such as the future implosion of entitlement benefits in America will come in stages. The first stage is happening on December 1: The decrease in reimbursement rates for doctors under Medicare. Congress might reverse the fee reductions for another month or so, but then what? The rate cuts in the legislation prove that members of both parties are aware that the government cannot continue to finance Medicare as we know it--even before the mandates imposed by ObamaCare go into full effect when government becomes the primary payer for all medical care.

Perhaps you think doctors make "too much." Specialists working outside the third-party reimbursement system (plastic surgeons, for example) can do fairly well, but general practitioners who accept Medicare do not earn as much as the liberals would like you to think. So, by what formula do you determine the right amount? Do you trust the private marketplace to set the prices by negotiation between individuals and their doctors? Or do you trust politicians in Washington, DC to determine a "one size fits all" price? If you actually believe the latter, remember that "you get what you pay for." If you think doctors, who spent thousands upon thousands for their training, are going to work twice as hard for 30 percent less pay (at least), then you had better think again. Would you? If not, then why would a doctor?

Our only hope for maintaining the quality and availability of competent doctors is the possibility that ObamaCare will be torn apart by the new Congress, or struck down by the Supreme Court before it does too much damage. Of course, this doesn’t change the fact that Medicare, not to mention the entire federal government, is long since bankrupt and wallowing in ever-increasing debt. By pumping money into the financial system, the Federal Reserve is risking the greatest run of hyperinflation since the Weimar Republic of Germany, the failed government that gave rise to Adolf Hitler in the 1930s. And bigger problems are looming. The massive course reversals required of our government, and needed by the entitlement-addicted American people, are much bigger than the Tea Party or anything stated in the recent election campaigns.

Don't just feel sorry for your doctors, who will be paying for our “free” health care. Feel even sorrier for yourself—whether you’re currently a patient, or might need medical care in the future. Our lives will be in the hands of doctors who have been told that they don't matter and that they are employees of the state. Their incentive will no longer be to provide excellent care. Their incentive will be to simply clock in, clock out, go through the motions and retire as soon as the government pension kicks in. Not all that different from many existing government employees.

The solution? Restore the free market, where doctors who work harder will earn more for their skill and dedication. Patients will once again be consumers who choose from competing practitioners for the best care possible. The government must get out of the way, and let people purchase their own health care in the open market--no different than how we buy computers, cars, airplane flights, food and everything else produced and delivered by people who compete for your dollar.

The transition to the free market might be uncomfortable at first. But what's the alternative? If doctors work for the government, then medical care will no longer be a profitable profession. The best and the brightest will no longer be compensated for their efforts. As with anything the government touches, the mediocre will thrive, but the brilliant will not. Innovation (the cornerstone of our medical industry) will end. Oh, yes, medical care "for all" will exist on paper. But it won't be worth the paper it's printed on.

SOURCE

There is a BIG new lot of postings by Chris Brand just up -- on his usual vastly "incorrect" themes of race, genes, IQ etc.

My Twitter.com identity: jonjayray. My Facebook page is also accessible as jonjayray (In full: http://www.facebook.com/jonjayray). For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

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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)

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Monday, November 15, 2010

The civilizing effects of capitalism

Economic historian Deirdre McCloskey has just published the second volume of her multivolume look at the history of capitalism and its relationship to the “bourgeois virtues.” What she means by the latter are the basic virtues of the middle class, from prudence to love to justice. What makes this approach interesting is that critics of capitalism have long suggested that there were very few virtues associated with the bourgeoisie, mostly because capitalism itself requires and encourages what they saw as the unvirtuous behavior related to greed and self-interest.

In the first volume McCloskey convincingly argues that market relationships civilize us and lead us to treat one another, especially strangers, with openness and kindness, which was previously unknown in history. In the words of economic anthropologist Paul Seabright, markets turn strangers into “honorary kin.”

Markets do this because they encourage us to treat others as equals in that we approach them, especially strangers, most often as traders. They have rights to their property, we have rights to ours, and those rights limit the ways we can interact. But they leave exchange available as a way to get the things we want. The mutuality and reciprocity of exchange both require and encourage us to treat one another humanely, with justice, and as equals. In other words, markets lead us to treat strangers as fully human.

Contrast this with the way the State operates. Think about your interactions with agents of the government. By the very nature of what they do and your relationship to it, that interaction can never be one of equals. All such interactions are based on inequalities in power not reciprocity. The agent of the State ultimately has power over you and can use it to bend your actions to his or her will. This is very different from the reciprocity and humanity of the marketplace. From the IRS to the TSA to the police to the border patrol, the essence of the State’s relationship with you is domination and hegemony — not equality, contract, and exchange.

Compare and Contrast

To see this vividly, consider what happened to a colleague of mine last week. He is not a U.S. citizen but has the legal right to live and work in the country. He had to travel across the Canadian border to drop a relative at the airport. Crossing into Canada and again on his return he was subject to lengthy harassment by border guards of both countries, including verbal intimidation, scattering of his citizenship papers, and various threats to bar him from returning to the United States because they couldn’t figure out his status and his paperwork. He described the interaction as “humiliating.” He could feel the power of the State.

Compare that to the other interesting part of his trip. His car broke down in Canada, requiring it to be towed to a local Volvo dealer in a sparsely populated area. Not only did the Canadian Automobile Association respond quickly and politely to his call, but its agent also gladly towed him to a Volvo dealer, presumably one the agent was familiar with. However, my colleague was concerned about being taken advantage of. After all, information differences are common in such situations, opening the possibility of opportunistic behavior; this was made even worse by the likelihood he’d never be back to that dealer: Reputation wasn’t an issue. But despite this clear opportunity, the dealership treated him honestly, completing the repair in about an hour at a very reasonable price.

More interesting is that my colleague struck up a conversation with the service manager while he waited, comparing stories about their young children and extended families. My colleague said that when he left he felt like he had made a friend. That’s a far cry from what he felt after both stops at the border.

Sure the Volvo dealer wanted the business, but faced with a perfect opportunity to take advantage of a stranger, the staff made him feel welcome and comfortable — they made him feel human. He became, for that short time, honorary kin. It was the bourgeois virtues in action.

The next time someone tries to tell you that markets are dehumanizing and that we need government regulation to prevent people from treating each other like mere objects, you might share my colleague’s story.

SOURCE

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Honesty not required in the Leftist media

Bill O'Reilly

After last week's election results rolled in, some on the left became distraught and went after Fox News big time. Of course, we are used to the growing problem of Fox-o-phobia: an irrational fear of the Fox News Channel. On election night, FNC won the national ratings race, even defeating the network news operations, which is incredible because cable channels are much harder to access than single digit network channels.

Immediately after the votes were counted, the incoming fire began. Washington Post columnist Dana Milbank wrote that Fox News held "a victory party" for Republicans on the air. Milbank then stated: "To be fair and balanced, Fox brought in a nominal Democrat, pollster Doug Schoen."

A nominal Democrat? Well, that is flat-out false. FNC had seven Democrats on the air that night, and I believe Geraldine Ferraro and Joe Trippi might be surprised to see themselves described as "nominal."

So, why did Milbank mislead his readers, and how does he get away with it? We put the second question to Fred Hiatt, Milbank's editor at the Post. After a few hours of deliberation, he told us he didn't think Milbank had implied that only one Democrat was booked on FNC's election coverage. Either Hiatt is having trouble with the English language, or he really doesn't care. I'm betting the latter. Neither Hiatt nor Milbank would come on my program to explain themselves.

As to why the columnist wants to mislead readers, it's simple. He despises Fox News and wants to spread the loathing. But that's lazy. There are plenty of things to criticize about any national news organization, especially one that broadcasts 24 hours a day. Milbank just wanted to vent and didn't care about being accurate. He cared about being hostile and bitter.

SOURCE

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Why Obama Will Not Move to the Center

He comes to destroy America, not to save it

President Obama told students in India that the 2010 election “requires me to make some midcourse corrections and adjustments,” but Americans are wondering whether he really understands that voters rejected his policies in the early-November mid-term elections. Instead of acknowledging that his policies are behind the defeat, the president blames “faulty communication,” as though the election massacre were just a public relations miscue.

Even Congressional Democrats blame the president for the “shellacking” the party suffered in losing the House to the GOP. They see a “tone deaf” and “distant” president who is “inattentive” and runs a “hapless political operation.” Some Democrats get highly personal in describing their president’s “holier-than-thou” attitudes and posturing. On November 8, Politico reported, “Many Democrats privately say they are skeptical that Obama is self-aware enough to make the sort of dramatic changes they feel are needed — in his relations with other Democrats or in his very approach to the job.” This view is supported by House Speaker Nancy Pelosi’s (D-California) refusal to step aside for new leadership and her public assertions of pride at their “historic achievements.”

In short, few people see a humbled Obama; instead, they see a man who “learned the wrong lessons.”

In an editorial closely scrutinizing President Obama’s trip to India, the Washington Times characterized the trip as an announcement of “the decline of the United States as an economic power.” Mr. Obama, according to the Washington Times, “ignores the fact that it was American invention, innovation and competitive spirit that gave the country its economic pre-eminence in the first place. Rather than lecturing Americans to get in the game, he would do better to reverse the anti-business political climate he has helped foster.” Further, the Times wrote, the president “has never been comfortable with American global pre-eminence.” The Times summarized their analysis:

“In place of liberty, [Mr. Obama] substitutes redistributionist notions of social justice. Rather than a single American nation, he institutionalizes differences for political gain. Instead of patriotism and pride, he promotes internationalism and guilt. America’s decline is not the result of historical forces out of our control, but of condemning the history that brought the United States to its position of leadership. America will only resurge when it recaptures the moral image of the country as a land of individualism, opportunity and patriotism. That is an America Mr. Obama would rather do without.”

In addition to all of the non-American, “hate-America” people who had influence on the president during his formative years, Shapiro also notes the socialists and other “hate-America” mentors that the president chose as his friends and associates later in life. America’s supposed decline, Shapiro believes, is for our president — in accordance with all he was taught by his hate-mongering pastor, Reverend Jeremiah Wright — a matter of the “chickens coming home to roost.”

Clearly, the election of 2010 was a rejection of Mr. Obama’s ideology and agenda — a matter of the president’s chickens coming home to roost. The Obama presidency — with its anti-exceptionalism, anti-capitalist, anti-freedom emphases — is a wake-up call for America.

SOURCE

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Obamacare reduces the incentive to work

It’s not that fewer Americans are searching for work. There are, to put it simply, less of us who want to work and to produce, and even among those of us who still want to work and produce, many of us are choosing to work fewer hours and to produce less. And the reason for this is simple: because of the generous federal entitlements provided in the new “Obamacare” law.

According to none other than the Congressional Budget Office, many of us have decided we no longer will have to work as much as we once did, given all the “assistance” we can get via Obamacare.

This is not just political “spin” or partisan punditry. It comes directly from Douglas Elmendorf, the Director of the non-partisan C.B.O., a federal agency within the legislative branch of our government that employs people to analyze government policies, and consider their impact on the federal budget, and on the economy. The C.B.O. likely produces some of the most objective, “fair,” and non-politicized data that we receive from our government.

Speaking at a little-noted event at the University of Southern California’s Leonard D. Schaeffer Center for Health Policy and Economics, Mr. Elmendorf noted that, outside the healthcare sector of our economy, the greatest impact of the Obamacare agenda will be in the labor market. It was October 22nd, just days away from the big midterm election, and Elmendorf’s presence at this conference, and his remarks at the conference, did not receive nearly the amount of press attention that they deserved.

Mr. Elmendorf stated that, in some cases, Americans will simply choose not to work, because their needs for healthcare will be provided by the enhanced Medicaid funding that is provided for in the Obamacare law. As Journalist Matt Cover noted at CNSNews.com (he was one of few journalists that actually reported on this event), this assessment of Obamacare by Mr. Elmendorf coincides with Speaker of the House Nancy Pelosi’s remarks last May. Back then, Speaker Pelosi insisted that Obamacare would allow “artists” to “quit their day job” and pursue their art, free from the constraints of having to provide for one’s self, because the government would now take care of artists’ healthcare needs.

That all sounded so good, right? It seemed like President Obama was making good on his agenda of, as he likes to say in his folksy fashion, “gettin’ people some help…”

But notice the gravity of what Mr. Elmendorf is describing. He’s talking about Medicaid, a social care program from our federal government that is intended to offer short-term assistance to poor and lower income households. And the head of the C.B.O., the individual described as the “top accountant to Congress,” is making the observation that we have, as a result of Obamacare, given increasing numbers of Americans a reason not to work (or to “not work as much”), and to choose instead to avail themselves to a government welfare program.

In short, our federal government has incentivized (some) people to consume more than they produce. And this is a very destructive thing.

Unfortunately, this is also a common thing. When government tells people “you don’t have to provide for yourself, you can instead choose to subsist off of somebody else’s effort,” it is inevitable that some people will choose the latter. And when people make this type of choice, it does long term damage to themselves and their families and to the broader society as well.

SOURCE

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Why Do Christians Remain Silent About the Persecution of Christians in Muslim-Majority Societies?

Christians in Iraq have been, and not for the first time, deliberately targeted in a major terrorist attack. Indeed, from Indonesia to Pakistan to Iraq, from the Gaza Strip to Egypt to Sudan to Nigeria, Christians are being assaulted, intimidated, and murdered by militant Muslims.

Yet virtually never do Christians in any of these countries-perhaps with some occasional exceptions in India--attack Muslims. In the West, there have been no armed terrorist attacks on Muslims or the deliberate killing of Muslims. There does not exist a single group advocating such behavior.

Have you seen any of this in the Western mass media? Have any Christian church groups-some of which find ample time to criticize Israel-even mentioned this systematic assault? Indeed, on the rare occasions that the emigration of Christians is mentioned, somehow it is blamed on Israel, as one American network news show did recently.

I'm not writing this to complain about double standards, since one takes this problem for granted, but out of sheer puzzlement. Presumably, much of the Western media and intelligentsia-along with a lot of the church leadership, assumes that it is impossible for a non-Western, "non-white" group to ever be prejudiced. There is also a belief that if one dares report the news about pogroms carried about by Muslims against Christians it will trigger pogroms by Christians against Muslims.

The Catholic Church is quiet because it fears that complaints will increase persecution. Indeed, at a recent high-level Synod for the Middle East, leading Catholic clerics from the region blasted Israel and talked about how wonderfully Christians are treated in Muslim-majority countries. Iraq was singled out as a country where there were no problems in Muslim-Christian relations. Apparently, though, appeasement isn't working.

The al-Qaida terrorists said that all Iraqi Christians would be "exterminated" if two "Muslim women" in Egypt were not freed. Apparently, these were two young women, both married to Coptic Christian priests, unlikely candidates for conversion to Islam. They were in fact kidnapped and forcibly converted.

Thus, aggression against Christians is turned into a rationale to persecute Christians, a pattern we have often seen used elsewhere by Islamists. Yet many of the attacks in these countries are not carried out by revolutionary Islamist groups but simply by regular people, sometimes in large groups... Increasingly, Islamists are making it clear that any presence of Christians in Muslim-majority countries is unacceptable, just as the existence of a Jewish state in the Middle East is unacceptable.

I just cannot understand how this factor and these attacks so often go unnoticed, and certainly unprotested. Isn't it time for Christians to try to help their persecuted brethren before they are wiped out--or at least forced to flee--altogether?

SOURCE

My Twitter.com identity: jonjayray. My Facebook page is also accessible as jonjayray (In full: http://www.facebook.com/jonjayray). For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

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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)

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Saturday, November 13, 2010

Dems extol facts and science but act on ideology

President Obama recently fretted that our politics has become so rough-and-tumble that "facts and science and argument do not seem to be winning the day all the time." Speaking at a Democratic fundraiser just before the election, the president worried that Americans were so rattled by economic anxieties that they might lose their heads and choose Republicans over Democrats -- a fear that became a reality on Nov. 2.

But his larger point was that Democrats are guided by facts and science and argument while Republicans act on ideological or even irrational motives. As liberals and Democrats are fond of saying, they are part of the "reality-based community."

Except when they're not. In the course of the Obama administration we have seen examples of Democrats in the White House, Congress and across the government pursuing ideological goals that are not only not based on facts and science and argument but actually fly in the face of facts and science and argument. Some examples:

» Offshore oil drilling. Recently the inspector general of the Interior Department discovered that White House officials altered a report to claim that the administration's six-month moratorium on offshore oil drilling had the approval of the nation's foremost engineering experts. "The recommendations contained in this report have been peer-reviewed by seven experts identified by the National Academy of Engineering," the administration declared. In fact, the experts had not reviewed, nor did they approve, the proposed drilling moratorium. The administration insists it was all a mistake.

» The "clean energy economy." President Obama speaks frequently about "accelerating the transition to a clean energy economy." Neither Obama's promises of breakthroughs in solar, wind, and other alternative energy sources -- which can supply only a tiny fraction of the nation's energy needs -- nor his claims that his policies will create hundreds of thousands of "green jobs" in a new clean energy world, are supported by solid economic analysis. Numerous studies found that the president's favored cap-and-trade program would not have led to economic growth, and the concept of "green jobs" is so fuzzy as to be almost useless.

"They are ignoring the fact that subsidized green jobs destroy jobs elsewhere and direct capital and resources away from their most efficient use," says Nick Loris, an analyst at the conservative Heritage Foundation. "If these technologies were economically competitive and profitable, they wouldn't need the subsidies and mandates the administration is supporting."

» High-speed rail. The administration wants to build high-speed rail links in 13 densely populated areas around the country, at a price tag that could reach into the hundreds of billions of dollars. The president touted high-speed rail at no fewer than five campaign appearances in October. But there is virtually no hope that such projects, even if built exactly as the administration hopes, would bring the progress Obama claims. Recently Newsweek economic columnist Robert Samuelson concluded that the rail lines would not result in "any meaningful reduction in traffic congestion, greenhouse-gas emissions, air travel, or oil consumption and imports. Nada, zip."

The disregard of facts and science and argument when they contradict ideological goals is nothing new for some key figures in the Obama circle. For example, back in 1996, while an aide in the Clinton White House, Obama Supreme Court pick Elena Kagan rewrote the opinion of an expert board of the American College of Obstetricians and Gynecologists on the subject of partial-birth abortion. The board found that it could "identify no circumstances under which this procedure ... would be the only option to save the life or preserve the health of the woman." But Kagan, eager to aid the White House fight against a partial-birth abortion ban, refashioned the experts' opinion, saying the procedure "may be the best or the most appropriate procedure in a particular circumstances to save the life or preserve the health of a woman." She just made it up.

During the Bush years, liberals and Democrats often accused the administration of ignoring science and expert opinion if it conflicted with conservative ideological goals. That would change, we were told, if rational, pragmatic Democratic leaders were given a chance to run the government.

Now we have had two years in which Democrats, with cherished ideological objectives of their own, have been fully in charge of Washington. Given what has taken place, can the president really claim that his is the party that values facts and science and argument above all?

SOURCE

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Big, evil industries funded… which party?

Now that election 2010 is over, let’s go back over to OpenSecrets and look at which evil corporations stole our democracy and bought Congress for the Republicans — the RepubliCorp!

First suspect: the military-industrial complex!

Defense Contractors: 55% Democrat, 44% Republican ($18 million)
Oh, really? Well, then, it must have been Wall Street! That’s it: Wall Street bought Congress for the GOP!

Securities & Investment: 53% Democrat, 46% Republican ($8.2 million)

Oh. Well, even if Wall Street as a whole preferred Democrats, it must have been the real bad guys, those risky Hedge funds and exotic investors…

Hedge Funds: 53% Democrat, 46% Republican ($6.8 million total)
Venture Capital: 64% Democrat, 36% Republican ($6.4 million)
Private Equity: 56% Democrat, 43% Republican ($4.6 million)

Huh. Well, then, it must have been the big health insurers and for-profit hospital corporations! They didn’t want reform! I know because I heard President Obama say so at least 64 times!

HMO/Health services: 58% Democrats, 40% Republicans ($9.4 million)
Pharmaceutical Manufacturing: 51% Democrats, 48% Republicans ($10.4 million)

Medical Supply: 57% Democrats, 42% Republicans ($4.4 million)
Hospitals/Nursing Homes: 63% Democrat, 36% Republican ($14.9 million)

Huh. Well…then it must have been those evil lobbyists that President Obama has been fighting against ever since he got to Washington! That’s it!

Lobbyists: 65% Democrat, 34% Republican ($23.5 million)
What? You mean all that time I’ve spent watching Keith Olbermann hasn’t taught me any real facts???? You mean my head is now full of garbage and White House propaganda?

For good measure, here are a few industries that did, in fact, support Republicans (although most of them by narrow margins).

‘Tonsil Thieves‘ (Dentists): 37% Democrat, 62% Republican ($5.3 million)
Health professionals: 48% Democrat, 50% Republican ($55 million)
Credit/Finance: 48% Democrat, 52% Republican ($5.8 million)
Commercial Banks: 41% Democrat, 59% Republican ($15.4 million)
Insurance (Health, life and property): 48% Democrat, 52% Republican ($31.2 million)
Agribusiness: 41% Democrat, 58% Republican ($40 million)

The challenges I see ahead for the new GOP House will be (1) reining in Agribusiness subsidies and (2) forcing banks to live without hope of future bailouts. The first is probably the bigger challenge, at least in the short run.

SOURCE

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Time says Tea Party will cause hyperinflation

If hyperinflation arrives, Time Magazine wants its readers to know who the real culprits are. It won’t be the federal government that hiked annual spending by 38% in three years and began running trillion-dollar deficits. It won’t be the Congress that kept raising debt limits to allow for that spending spree. And it won’t be the Federal Reserve that, in desperation over the government’s spending and debt spree, began printing money to artificially keep interest rates low. No, the real culprit will be the political movement that opposes all of the above, according to The Curious Capitalist:
In a recent paper, called Temporarily Unstable Government Debt and Inflation, which can be downloaded from this website, Leeper has a chart that he unofficially calls the Tea Party shock graph, on page 25. Before the Tea Party, inflation is rising slowly. But in the first year the Tea Party or a group with similar views wins the Presidency or takes over Congress, whamm-o. Inflation doubles, and keeps going up. He wrote the paper in October, so he puts the potential date of Tea Party takeover as 2019, but after this election Leeper concedes Tea Party induced hyper-inflation could come much sooner than that. So is Palin riding the Hyper-Inflation Express? Maybe. Here’s why …

But here’s the trick. Leeper doesn’t just model actual tax policy. He is looking at tax expectations. You don’t actually have to lower taxes for inflation to rise. Nor do you have to raise taxes to get inflation to fall, for that matter. Leeper says as we get closer to the point that is looks like the government is unwilling to raise taxes people will get increasingly nervous about our debt. And that’s the problem with the Tea Party.

Now before you go claiming that Leeper’s research is a Liberal hit piece consider this: Leeper agrees that when governments have high levels of debt higher taxes do slow growth and cause massive inflation. But we’re not there yet. Currently, our US Federal Debt is equal to about 62% of annual GDP. That’s a lot, but not enough to make higher taxes a threat. According to Leeper’s calculations, at our current level of US Federal Debt higher taxes, even modestly higher taxes, tends to reduce inflation by three quarters of a percentage point. And the inflation fighting affect of higher taxes tends to grow as the level of debt rises closer to one. Inflation drops by about 1.3 percentage points when the US Federal deficit equals GDP. After that the equation shifts. When debt hits 120% of our annual debt, that’s when the trouble hits. At that point, higher taxes tends to make inflation rise, not fall. But even if Bush’s tax cuts are kept in place we are ten years or more from hitting that point.

Perhaps at some point, Mr. Curious (or Mr. Capitalist) can explain why we had runaway inflation in the 1970s even with a low debt-to-GDP ratio and a predilection for higher taxes. Curiously, when we started cutting taxes in the 1980s, that inflation disappeared, and remained under control during a long period of low tax rates, especially in the 1980s and in the last decade as well. Those years of low taxes, low inflation, and consistently high real growth in GDP would tend to argue that tax cuts don’t create inflation but actual growth — as well as confidence in both the economy and the currency.

Not only does Mr. Curious fail to take that into account, he also fails to use accurate accounting of our debt. With a projected GDP growth rate this year of 2.5%, we can estimate the final GDP for 2010 at around $14.48 trillion, rounding up a little generously. According to the Treasury’s own debt calculations, our national debt stands at $13.73 trillion as of November 9th, which would put our debt-to-GDP ratio at 94.8% of our GDP even if we didn’t add a single dollar from now until the end of the year. By this measure, the ratio was 55.9% in 2001, and 65.6% by the end of 2007. In 1995, it was 67.3%. The rate now is significantly worse than any time in the last 60 years.

Time Magazine gets to 62% by ignoring intragovernmental holdings, which are IOUs held by such trivial creditors as, say, the Social Security Administration (and that’s actually 63%, not 62%). So our debt ratio is only 63% if one is inclined to believe that the government will simply eliminate Social Security and default on its debt to other governmental trust funds, rendering them defunct. The CBO leaves out intragovernmental holdings because, technically, Congress isn’t committed to honoring those IOUs until it approves the expenditures in each annual budget. That debt is just as real as the “public” debt, though, with perhaps even bigger political and economic consequences for defaults.

By the way, when we last experienced hyperinflation at the end of the 1970s, our debt-to-GDP ratio was … 33.4%, one of the lowest levels of debt we have experienced in that same period.

Uncontrolled inflation doesn’t get created from tax cuts; it arises from bad monetary policy, ill-advised government interventions, and a serious lack of confidence in the currency. Tax cuts uncoupled from spending cuts can certainly make for bad policy and set the stage for inflation, but all one has to do is look at the last nine years of stable tax rates and the runaway rate of spending increases in Washington to determine where the actual problem lies. It’s not the tax rates that kept changing, nor is it a decline in revenue that created the massive deficits. For most of the last ten years, revenues have increased, with the exception of the last two years of deep recession; the deficit problem resulted from spending increases that have far outstripped the revenue increases.

Finally, the Tea Party may be philosophically inclined to low taxes (seeing how well they worked in the 1980s and in the early 2000s in stimulating growth), but that’s not the issue on the table. Democrats in Congress want to raise taxes on the employer class, not cut taxes for everyone else. The Tea Party and Sarah Palin want to cut spending instead and shrink government, a strategy that has worked to restore economic growth in this country when it was tried in the 1960s, the 1980s, and in 2001-3, and in none of those cases created runaway inflation. Perhaps Time needs a little more intellectual curiosity.

SOURCE

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How Republicans Can Break Obamacare Before They Repeal It

Opponents of Obamacare should stay focused on two tracks: first, show why Obamacare fails to address the fundamental health-care problems afflicting the nation while spending trillions on a new health-care entitlement; second, make moderate voters comfortable with their own health-care reform agenda. Here's how they can do it.

Earlier this year, Speaker of the House Nancy Pelosi, D-Calif., committed an infamous gaffe when she said: "We have to pass the bill so that you can find out what is in it." House Republicans should help this process along and hold hearings to examine all the unintended consequences that have resulted (and will result) from Obamacare: Companies like McDonald's and other employers threatening to drop coverage; rate increases for private insurers due to new insurance regulations; and hundreds of billions of dollars in uncounted implementation costs for the legislation. Worst of all, 16 million Americans will be forced into the broken Medicaid program - and then struggle to find doctors and specialists who accept the program's low payments and cumbersome bureaucracy.

Republicans should also highlight how Obamacare is unaffordable. The president promised that health-care reform would "bend the curve" of health-care costs, but independent observers, from the Medicare Actuary to the Lewin Group, estimate that it will increase U.S. health-care spending by hundreds of billions of dollars over the next decade.

Rather than reducing federal health-care spending, Obamacare will create new entitlements that we can't afford while sapping hundreds of billions of dollars in taxes and fees from the private sector to pay for it.

Republicans should bring a parade of governors to testify to Congress. States led successful welfare-reform efforts in the 1990s, and states should take the lead in health-care reform now.

Instead, Obamacare dictates health-care reform from the top down and inflicts new costs on state governments--from expanding Medicaid eligibility to the start-up costs associated with running new state insurance exchanges. Republicans should give governors a platform to voice their concerns and highlight the efforts of state leaders like Gov. Mitch Daniels, R-Ind., to create more affordable health-care options for low-income Americans.

Finally, Republicans should push legislation that will attract bipartisan support and dare the president to veto it. Proposals could include using targeted defunding efforts to kill unpopular parts of the legislation--like the Independent Payment Advisory Board for Medicare; creating a national, interstate market for health insurance; enacting tort reform to rein in junk lawsuits against doctors; and killing the 1099 IRS reporting requirement for suppliers that will drown small businesses in paperwork.

By fighting smarter now, Obamacare's critics can improve the situation in the short term--and perhaps even lay the groundwork for repeal in 2012, when the president will have to defend his choices directly to the American people.

SOURCE

My Twitter.com identity: jonjayray. My Facebook page is also accessible as jonjayray (In full: http://www.facebook.com/jonjayray). For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

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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)

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A very influential book

It isn't often that a book -- any book, even a popular, bestselling book like Mark Levin's Liberty and Tyranny: A Conservative Manifesto -- can be said to have changed the course of American politics and history. The phenomenon is rare, extremely rare, usually taking both the country and even the author by surprise.

Yet Levin's book has done just that, saluted by Minnesota Republican Congresswoman Michele Bachmann in an exclusive talk with The American Spectator as "providing [the] intellectual balance and foundation" of the Tea Party movement. A movement that stands triumphant this week in the wake of the conservative landslide that Levin himself believes can revitalize the conservative cause that Ronald Reagan once led to the White House.

The results of the 2010 revolt against the Obama Era are staggering. The success of the Tea Party; the defeat of over 60 of Nancy Pelosi's House Democrats; the election of a half dozen U.S. senators, ten governors and almost 700 state legislators.

What startles even more is that one campaign after another focused on the issues Levin featured in his book -- the Declaration of Independence, the Constitution of the United States, statism, the dangers of a powerful central government. Campaigns "motivated and inspired" specifically, says Bachmann, by Levin's Liberty and Tyranny.

Levin himself emerged as an unlikely rock star in the cause of the Constitution, the author literally besieged at book signings as thousands waited hours for a seconds-long meeting and signed copy. This video posted by a Levin fan of a book signing at Tysons Corner, Virginia, outside a rainy Washington, D.C., illustrates a fraction of the Liberty and Tyranny phenomenon that was sweeping the country.

Liberty and Tyranny's red, white, and blue flag-and-flame cover bearing Levin's bearded visage was waved aloft at Tea Party rallies. Bachmann marvels that "it's difficult to educate a nation" but says Tea Partiers made a point to "take copies of the book to town hall meetings" to grill House and Senate members on their knowledge of the Constitution they had taken an oath to obey.

The book's cover itself appeared in poster form. One memorable photo captured former Alaska Governor Sarah Palin at a rally seated next to a soldier, the Levin book clearly visible in her lap.

Another Liberty and Tyranny fan went to work mocking Obama's famous 2008 campaign poster, replacing Obama's image with an iconic rendering of Levin, the caption changed from "Hope and Change" to read simply: "The Great One." Inevitably, there was a bumper sticker with a simple message: Mark Levin: President 2012.

In 1960 Barry Goldwater, then a rising spokesman of the fledgling modern conservative movement as the U.S. Senator from Arizona, wrote The Conscience of a Conservative. The book, adapted from Goldwater's speeches by Brent Bozell, an editor at William F. Buckley, Jr.'s National Review (and the father of today's Brent Bozell of the Media Research Center), was an unexpected sensation. It explained what Goldwater called "the conservative philosophy" and "spelled out conservative principles in everyday language" -- challenging head on the then-consensus view that the liberal agenda was a stellar political gift to mankind.

Daring to ask questions that liberals of the day sought to portray as extremist and out of the mainstream -- just as they still do today -- the book had a first printing of a mere ten thousand. Eventually, it sold more than 4 million hardcover and paperback copies, helping to build the foundation for what became the modern conservative movement. It also helped Goldwater to the 1964 Republican presidential nomination while making possible Ronald Reagan's 1980 election and the Reagan Revolution that followed.

When Mark Levin decided -- in 2008 -- that it was time to write a book about the importance of what he saw as "the modern liberal assault on Constitution-based values" no one, Levin included, could see what was coming.

LEVIN IS, FAMOUSLY, a considerable talk radio star, ranked number four in the nation with eight and a half million listeners. He is as well the longtime head of the conservative Landmark Legal Foundation. A former Reagan aide, Justice Department lawyer (serving as chief of staff to Reagan attorney general Edwin Meese III, among other positions in the government) and conservative activist who began his march on liberalism as a precocious 13-year old, Levin is no recent entry into discussions of law, politics, or conservative principles.

More HERE

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Of Course Sarah Palin's 'Unfit': She's a Republican

How much of the "Sarah Palin is not ready for prime time" criticism is sincere? When the harping comes from the left, it's difficult to take it seriously. Try to follow the bouncing standards.

Barbara Walters gushed over John F. Kennedy Jr. and foresaw a political future for him. Never mind that the young man had flunked the New York bar exam -- twice.

"Dumb" former President George W. Bush, caricatured as a slacker in an Oliver Stone movie, made better grades in college than did Al Gore, his opponent in 2000. Gore dropped out of divinity school after earning five F's. Then he entered law school and dropped out. He won a Nobel Peace Prize for his anti-global warming crusade, and his documentary won an Academy Award, but Gore got a D in science at Harvard. Bush also scored higher on his verbal SAT than did Rhodes scholar and "brainy" presidential candidate Bill Bradley.

"Dumb" former President Ronald Reagan majored in economics. But the late Sen. Edward Kennedy, who ran for the presidency, got expelled from Harvard for hiring someone to take a Spanish test.

"Dumb" Republican former President Gerald Ford was ridiculed as a bumbling doofus by Chevy Chase on "Saturday Night Live." Democratic former President Lyndon Baines Johnson famously quipped that Ford, who played football for the University of Michigan, "spent too much time playing football without a helmet." But Ford graduated from Yale Law School, the same school that produced Bill and Hillary Clinton.

The worldly and literate Sen. John Kerry, D-Mass., who ran for president in 2004, didn't exactly kill on his military aptitude test. He got half the questions right and half the questions wrong -- dead average. He explained his poor showing by insisting, "I must have been drinking the night before."

Vice President Joe Biden's 1988 quest for the presidency evaporated when he plagiarized a speech by a British politician. When someone questioned his academic credentials at a campaign stop, the offended Biden claimed that he had a full academic scholarship at law school and graduated in the top half of his class. In fact, he had a need-based half-scholarship and graduated near the bottom -- 76th out of 85.

Biden, in his political career, has stacked up enough gaffes for a dozen politicians. Where to start? How about the time, during a 2008 campaign rally, when Biden stood at the podium and implored a local lawmaker to "stand up." The man in question was in a wheelchair. Or at a campaign rally when he said the opponent's plan would do nothing about "a three-letter word: jobs. J-O-B-S, jobs."

Biden opposed the first Gulf war, the "good" one. He voted for the Iraq War and co-authored a Washington Post op-ed piece in which he warned that our involvement would take a decade and urged the nation to show patience. When the war went south, along with public opinion, Biden suggested breaking Iraq into three parts. Then Biden reversed his support, said he regretted his vote, and opposed Bush's successful "surge."

Former CBS reporter Dan Rather tried to prove -- based on documents that turned out to be fraudulent -- that Bush received preferential treatment in getting into the Texas Air National Guard. Former President Bill Clinton, on the other hand, used familial political and social connections to deliberately delay issuance of his draft notice until after he began his first year at Oxford.

Ordered to report for induction the next summer, Clinton again used connections -- including the approval of Arkansas Selective Service director Willard Hawkins -- to join the University of Arkansas ROTC while he attended law school, getting him a reservist deferment and nullifying his draft notice.

Palin, if she decides to run, faces a grueling series of challenges -- just like the other candidates. Except she'll not benefit from the selective standard that liberals apply when evaluating "their own."

More HERE

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The Fed Trashes the Dollar

Pat Buchanan

If it is the first responsibility of the Federal Reserve to protect the dollars that Americans earn and save, is it not dereliction of duty for the Fed to pursue a policy to bleed value from those dollars? For that is what Chairman Ben Bernanke is up to with his QE2, or "quantitative easing."

Translation: The Fed is committed to buy $600 billion in bonds from banks and pay for them by printing money that will then be deposited in those banks. The more dollars that flood into the economy, the less every one of them is worth.

Bernanke is not just risking inflation. He is inducing inflation.

He is reducing the value of the dollar to make U.S. exports more competitive and imports more expensive, so that we will consume fewer imports. He is trying to eliminate the U.S. trade deficit by treating the once universally respected dollar like the peso of a banana republic.

Sarah Palin has nailed cold what Bernanke is about:

"We shouldn't be playing around with inflation. It's not for nothing Reagan called it 'as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.'

"The Fed's pump-priming addiction has got our small businesses running scared and our allies worried. The German finance minister called the Fed's proposals 'clueless.' When Germany, a country that knows a thing or two about the dangers of inflation, warns us to think again, maybe it's time for Chairman Bernanke to cease and desist.

"We don't want temporary, artificial economic growth bought at the expense of permanently higher inflation which will erode the value of our incomes and our savings."

Egging Ben on is the Nobel-prize winning New York Times columnist Paul Krugman. Fed policy is too timid, says Krugman.

When Bernanke said we are not "going to try to raise inflation to a super-normal level," he blew it, says Krugman, and "there goes the best chance the Fed's plan might actually work."

What the Fed should do, he says, is change expectations "by leading people to believe that we will have somewhat above-normal inflation ... which would reduce the incentive to sit on cash."

But "sit on cash" is a definition of saving. Is saving bad? Once, Americans were taught that saving was a good thing.

Not to Krugman. He wants to panic the public into believing the money they have put into savings accounts and CDs will be rapidly eaten up by Fed-created inflation, so they will run out and spend that money now to get the economy moving again.

Whatever the economics of this, the morality of it is appalling.

More HERE

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Obamacare Hits the Most Vulnerable

Mona Charen

Everyone agrees that the burden of dealing with escalating health care costs should not fall on the most vulnerable, right? Democrats in particular are always at pains to convince us that they are sensitive to the needs of the less fortunate. Yet among the many new taxes Obamacare will impose is one that hits wounded veterans and sick children especially hard -- the 2.3 percent annual tax on medical device manufacturers set to begin in 2013.

All of those fantastic prosthetic limbs, powered wheelchairs, stents, pacemakers, artificial hips, and other miraculous technologies that improve the lives of maimed soldiers will now be more expensive. Some estimates suggest that the tax will amount to 17 percent of profits for the industry.

As Ed Morrissey reported last May, Massachusetts medical device companies have already begun to plan layoffs to cope with the new tax. According to the Massachusetts Medical Device Industry Council, "(A)bout 90 percent of the 100 medical-device firms said they would reduce costs due to the new tax tucked into the recently passed health-care reform bill."

Almost certainly, this will mean reductions in research and development. As the maxim goes: If you want less of something, tax it. If you want more of something, subsidize it. By taxing medical devices, Obamacare has probably postponed the day my 17-year-old Type I diabetic son is most looking forward to -- the invention and marketing of an artificial pancreas.

More HERE

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ELSEWHERE

Obama’s Labor Department again pushes forced unionism: "You are at work one day and a couple of police vehicles pull up. They go into the administrative office area and the next thing you know, your CEO is escorted out in handcuffs. While the local news crews are capturing the moment permanently, a buzz quickly circulates through the company that the union had him arrested for egregious corporate corruption. The ‘perp walk’ is reserved for hardened criminals in order to give our law enforcement agencies an opportunity to showcase their abilities to protect the public.”

NASA’s Webb Telescope in money trouble : "NASA’s James Webb Space Telescope (JWST), the long-anticipated successor to the Hubble Space Telescope, is in serious financial trouble, according to a project review panel. The culprits: bad management and flawed budgets from managers, the panel concludes — not hardware challenges or a tightfisted Congress. Overall, the telescope’s cradle-to-grave budget, currently pegged at $5 billion, will need another $1.5 billion to live up to its scientific promise, the review panel estimated in a report released late Wednesday afternoon.”

Typical British government data security: "The British Ministry of Defence is investigating how an army officer’s laptop containing sensitive military data was bought on eBay for less than £20 ($32). The Toshiba Satellite A30 laptop computer, which is now held by the MoD, contained details of every police command post in a town in Helmand in Afghanistan, along with photos of each post and a list of the men, their ammunition, patrols and weapons. The files were not encrypted or password sensitive. It also contained details on those who had joined the Afghan National Police and Afghan National Army."

My Twitter.com identity: jonjayray. My Facebook page is also accessible as jonjayray (In full: http://www.facebook.com/jonjayray). For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

****************************

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)

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A very influential book

It isn't often that a book -- any book, even a popular, bestselling book like Mark Levin's Liberty and Tyranny: A Conservative Manifesto -- can be said to have changed the course of American politics and history. The phenomenon is rare, extremely rare, usually taking both the country and even the author by surprise.

Yet Levin's book has done just that, saluted by Minnesota Republican Congresswoman Michele Bachmann in an exclusive talk with The American Spectator as "providing [the] intellectual balance and foundation" of the Tea Party movement. A movement that stands triumphant this week in the wake of the conservative landslide that Levin himself believes can revitalize the conservative cause that Ronald Reagan once led to the White House.

The results of the 2010 revolt against the Obama Era are staggering. The success of the Tea Party; the defeat of over 60 of Nancy Pelosi's House Democrats; the election of a half dozen U.S. senators, ten governors and almost 700 state legislators.

What startles even more is that one campaign after another focused on the issues Levin featured in his book -- the Declaration of Independence, the Constitution of the United States, statism, the dangers of a powerful central government. Campaigns "motivated and inspired" specifically, says Bachmann, by Levin's Liberty and Tyranny.

Levin himself emerged as an unlikely rock star in the cause of the Constitution, the author literally besieged at book signings as thousands waited hours for a seconds-long meeting and signed copy. This video posted by a Levin fan of a book signing at Tysons Corner, Virginia, outside a rainy Washington, D.C., illustrates a fraction of the Liberty and Tyranny phenomenon that was sweeping the country.

Liberty and Tyranny's red, white, and blue flag-and-flame cover bearing Levin's bearded visage was waved aloft at Tea Party rallies. Bachmann marvels that "it's difficult to educate a nation" but says Tea Partiers made a point to "take copies of the book to town hall meetings" to grill House and Senate members on their knowledge of the Constitution they had taken an oath to obey.

The book's cover itself appeared in poster form. One memorable photo captured former Alaska Governor Sarah Palin at a rally seated next to a soldier, the Levin book clearly visible in her lap.

Another Liberty and Tyranny fan went to work mocking Obama's famous 2008 campaign poster, replacing Obama's image with an iconic rendering of Levin, the caption changed from "Hope and Change" to read simply: "The Great One." Inevitably, there was a bumper sticker with a simple message: Mark Levin: President 2012.

In 1960 Barry Goldwater, then a rising spokesman of the fledgling modern conservative movement as the U.S. Senator from Arizona, wrote The Conscience of a Conservative. The book, adapted from Goldwater's speeches by Brent Bozell, an editor at William F. Buckley, Jr.'s National Review (and the father of today's Brent Bozell of the Media Research Center), was an unexpected sensation. It explained what Goldwater called "the conservative philosophy" and "spelled out conservative principles in everyday language" -- challenging head on the then-consensus view that the liberal agenda was a stellar political gift to mankind.

Daring to ask questions that liberals of the day sought to portray as extremist and out of the mainstream -- just as they still do today -- the book had a first printing of a mere ten thousand. Eventually, it sold more than 4 million hardcover and paperback copies, helping to build the foundation for what became the modern conservative movement. It also helped Goldwater to the 1964 Republican presidential nomination while making possible Ronald Reagan's 1980 election and the Reagan Revolution that followed.

When Mark Levin decided -- in 2008 -- that it was time to write a book about the importance of what he saw as "the modern liberal assault on Constitution-based values" no one, Levin included, could see what was coming.

LEVIN IS, FAMOUSLY, a considerable talk radio star, ranked number four in the nation with eight and a half million listeners. He is as well the longtime head of the conservative Landmark Legal Foundation. A former Reagan aide, Justice Department lawyer (serving as chief of staff to Reagan attorney general Edwin Meese III, among other positions in the government) and conservative activist who began his march on liberalism as a precocious 13-year old, Levin is no recent entry into discussions of law, politics, or conservative principles.

More HERE

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Of Course Sarah Palin's 'Unfit': She's a Republican

How much of the "Sarah Palin is not ready for prime time" criticism is sincere? When the harping comes from the left, it's difficult to take it seriously. Try to follow the bouncing standards.

Barbara Walters gushed over John F. Kennedy Jr. and foresaw a political future for him. Never mind that the young man had flunked the New York bar exam -- twice.

"Dumb" former President George W. Bush, caricatured as a slacker in an Oliver Stone movie, made better grades in college than did Al Gore, his opponent in 2000. Gore dropped out of divinity school after earning five F's. Then he entered law school and dropped out. He won a Nobel Peace Prize for his anti-global warming crusade, and his documentary won an Academy Award, but Gore got a D in science at Harvard. Bush also scored higher on his verbal SAT than did Rhodes scholar and "brainy" presidential candidate Bill Bradley.

"Dumb" former President Ronald Reagan majored in economics. But the late Sen. Edward Kennedy, who ran for the presidency, got expelled from Harvard for hiring someone to take a Spanish test.

"Dumb" Republican former President Gerald Ford was ridiculed as a bumbling doofus by Chevy Chase on "Saturday Night Live." Democratic former President Lyndon Baines Johnson famously quipped that Ford, who played football for the University of Michigan, "spent too much time playing football without a helmet." But Ford graduated from Yale Law School, the same school that produced Bill and Hillary Clinton.

The worldly and literate Sen. John Kerry, D-Mass., who ran for president in 2004, didn't exactly kill on his military aptitude test. He got half the questions right and half the questions wrong -- dead average. He explained his poor showing by insisting, "I must have been drinking the night before."

Vice President Joe Biden's 1988 quest for the presidency evaporated when he plagiarized a speech by a British politician. When someone questioned his academic credentials at a campaign stop, the offended Biden claimed that he had a full academic scholarship at law school and graduated in the top half of his class. In fact, he had a need-based half-scholarship and graduated near the bottom -- 76th out of 85.

Biden, in his political career, has stacked up enough gaffes for a dozen politicians. Where to start? How about the time, during a 2008 campaign rally, when Biden stood at the podium and implored a local lawmaker to "stand up." The man in question was in a wheelchair. Or at a campaign rally when he said the opponent's plan would do nothing about "a three-letter word: jobs. J-O-B-S, jobs."

Biden opposed the first Gulf war, the "good" one. He voted for the Iraq War and co-authored a Washington Post op-ed piece in which he warned that our involvement would take a decade and urged the nation to show patience. When the war went south, along with public opinion, Biden suggested breaking Iraq into three parts. Then Biden reversed his support, said he regretted his vote, and opposed Bush's successful "surge."

Former CBS reporter Dan Rather tried to prove -- based on documents that turned out to be fraudulent -- that Bush received preferential treatment in getting into the Texas Air National Guard. Former President Bill Clinton, on the other hand, used familial political and social connections to deliberately delay issuance of his draft notice until after he began his first year at Oxford.

Ordered to report for induction the next summer, Clinton again used connections -- including the approval of Arkansas Selective Service director Willard Hawkins -- to join the University of Arkansas ROTC while he attended law school, getting him a reservist deferment and nullifying his draft notice.

Palin, if she decides to run, faces a grueling series of challenges -- just like the other candidates. Except she'll not benefit from the selective standard that liberals apply when evaluating "their own."

More HERE

*************************

The Fed Trashes the Dollar

Pat Buchanan

If it is the first responsibility of the Federal Reserve to protect the dollars that Americans earn and save, is it not dereliction of duty for the Fed to pursue a policy to bleed value from those dollars? For that is what Chairman Ben Bernanke is up to with his QE2, or "quantitative easing."

Translation: The Fed is committed to buy $600 billion in bonds from banks and pay for them by printing money that will then be deposited in those banks. The more dollars that flood into the economy, the less every one of them is worth.

Bernanke is not just risking inflation. He is inducing inflation.

He is reducing the value of the dollar to make U.S. exports more competitive and imports more expensive, so that we will consume fewer imports. He is trying to eliminate the U.S. trade deficit by treating the once universally respected dollar like the peso of a banana republic.

Sarah Palin has nailed cold what Bernanke is about:

"We shouldn't be playing around with inflation. It's not for nothing Reagan called it 'as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.'

"The Fed's pump-priming addiction has got our small businesses running scared and our allies worried. The German finance minister called the Fed's proposals 'clueless.' When Germany, a country that knows a thing or two about the dangers of inflation, warns us to think again, maybe it's time for Chairman Bernanke to cease and desist.

"We don't want temporary, artificial economic growth bought at the expense of permanently higher inflation which will erode the value of our incomes and our savings."

Egging Ben on is the Nobel-prize winning New York Times columnist Paul Krugman. Fed policy is too timid, says Krugman.

When Bernanke said we are not "going to try to raise inflation to a super-normal level," he blew it, says Krugman, and "there goes the best chance the Fed's plan might actually work."

What the Fed should do, he says, is change expectations "by leading people to believe that we will have somewhat above-normal inflation ... which would reduce the incentive to sit on cash."

But "sit on cash" is a definition of saving. Is saving bad? Once, Americans were taught that saving was a good thing.

Not to Krugman. He wants to panic the public into believing the money they have put into savings accounts and CDs will be rapidly eaten up by Fed-created inflation, so they will run out and spend that money now to get the economy moving again.

Whatever the economics of this, the morality of it is appalling.

More HERE

***********************

Obamacare Hits the Most Vulnerable

Mona Charen

Everyone agrees that the burden of dealing with escalating health care costs should not fall on the most vulnerable, right? Democrats in particular are always at pains to convince us that they are sensitive to the needs of the less fortunate. Yet among the many new taxes Obamacare will impose is one that hits wounded veterans and sick children especially hard -- the 2.3 percent annual tax on medical device manufacturers set to begin in 2013.

All of those fantastic prosthetic limbs, powered wheelchairs, stents, pacemakers, artificial hips, and other miraculous technologies that improve the lives of maimed soldiers will now be more expensive. Some estimates suggest that the tax will amount to 17 percent of profits for the industry.

As Ed Morrissey reported last May, Massachusetts medical device companies have already begun to plan layoffs to cope with the new tax. According to the Massachusetts Medical Device Industry Council, "(A)bout 90 percent of the 100 medical-device firms said they would reduce costs due to the new tax tucked into the recently passed health-care reform bill."

Almost certainly, this will mean reductions in research and development. As the maxim goes: If you want less of something, tax it. If you want more of something, subsidize it. By taxing medical devices, Obamacare has probably postponed the day my 17-year-old Type I diabetic son is most looking forward to -- the invention and marketing of an artificial pancreas.

More HERE

**************************

ELSEWHERE

Obama’s Labor Department again pushes forced unionism: "You are at work one day and a couple of police vehicles pull up. They go into the administrative office area and the next thing you know, your CEO is escorted out in handcuffs. While the local news crews are capturing the moment permanently, a buzz quickly circulates through the company that the union had him arrested for egregious corporate corruption. The ‘perp walk’ is reserved for hardened criminals in order to give our law enforcement agencies an opportunity to showcase their abilities to protect the public.”

NASA’s Webb Telescope in money trouble : "NASA’s James Webb Space Telescope (JWST), the long-anticipated successor to the Hubble Space Telescope, is in serious financial trouble, according to a project review panel. The culprits: bad management and flawed budgets from managers, the panel concludes — not hardware challenges or a tightfisted Congress. Overall, the telescope’s cradle-to-grave budget, currently pegged at $5 billion, will need another $1.5 billion to live up to its scientific promise, the review panel estimated in a report released late Wednesday afternoon.”

Typical British government data security: "The British Ministry of Defence is investigating how an army officer’s laptop containing sensitive military data was bought on eBay for less than £20 ($32). The Toshiba Satellite A30 laptop computer, which is now held by the MoD, contained details of every police command post in a town in Helmand in Afghanistan, along with photos of each post and a list of the men, their ammunition, patrols and weapons. The files were not encrypted or password sensitive. It also contained details on those who had joined the Afghan National Police and Afghan National Army."

My Twitter.com identity: jonjayray. My Facebook page is also accessible as jonjayray (In full: http://www.facebook.com/jonjayray). For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

****************************

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)

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