Government Excesses
Government Insolvency?
Thursday, November 20th, 2008In the early 1980s I predicted that the U.S. Government was headed for insolvency in my lifetime. By abandoning the gold standard in 1971 and resorting to a fiat currency, the previously built-in discipline to resist excessive money creation and deficit spending was abandoned. The U.S. culture changed, as more people looked to the Federal [...]
New Bridge to Nowhere
Friday, November 14th, 2008Detroit automakers are asking for a bridge loan from the government. They are running out of money. They have been losing money for years. The outlook for the economy is bleak. The demand for automobiles is declining. There is excess auto manufacturing capacity, both nationally and worldwide.
Detroit automakers are asking the government for a “bridge” [...]
In Praise of Selfishness
Tuesday, November 11th, 2008During the presidential campaign, Barack Obama ridiculed selfishness. Joe Biden said paying more in taxes is patriotic, implying that minimizing taxes is selfish and an indication that you are uncaring about your fellow citizens. Members of the news media regularly condemn businesses and businessmen for what they see as selfish and greedy behavior. The popular [...]
Bubbles
Monday, October 20th, 2008The United States has been experiencing asset bubbles at an accelerating rate in recent years. The stock market bubble of the 90s was soon followed by the housing bubble. As that bubble was deflating, commodities were accelerating in price. Will these bubbles continue? What causes them?
The U.S. Federal Reserve has a stated policy objective of [...]
Mikey’s Mistep
Tuesday, October 14th, 2008Recent news reports reveal that Michigan Attorney General Mike Cox has recommended that the State of Michigan establish a web site, showing exactly what the state is spending money on. He argues that this would allow the citizens of the state to monitor how their government is managing their money. He also argues that several [...]
“Change”
Wednesday, October 8th, 2008The two major party nominees for President are each running on a platform of “change.” Let’s explore that concept.
The founding fathers of this country established a limited government while expressing concern about the danger to our liberty of too much government - too much concentration of power in the hands of elected officials. Over time, [...]
Welcome to the Fail-safe economy
Tuesday, September 23rd, 2008Show me an economy in which one cannot fail, and I’ll show you an economy in which one cannot succeed.
Open Letter to Jennifer Granholm, Governor of Detroit and other outstate communities
Saturday, August 2nd, 2008Dear Jennifer:
Jennifer! Jennifer! I’m afraid I have bad news. You remember “Scottville”, that obscure little town located somewhere over there in Western Michigan? You know, the one you imposed your infamous “Main Street” program on - the program that was going to turn that little town around and demonstrate the benefits of your economic program?
Well, [...]
Character
Wednesday, March 12th, 2008That word needs a new introduction into our culture, and into analyses of the daily news.
As we condemn the behavior of Elliot Spitzer, as unbecoming of the governor of
New York, let’s not forget that he was elected by the people of that state. He was elected after serving eight years as Attorney General, giving [...]