Category: Capitalism

Obamacare: Welcome to Neo-Feudalism

obamacareIt is axiomatic in history that the new worlds of the revolutionaries tend to resemble the social systems of the past. Tsar Alexander II freed 60 million serfs with the stroke of a pen, and seventy years later Joseph Stalin would re-impose serfdom under the guise of collective farms. He used bullets instead of ink. Similar stories can be told of the French Revolution, the Chinese Civil War, Oliver Cromwell, and probably all revolutions in some respect.

Alexander Hamilton wanted America to copy the British system, complete with political elites, state-supported monopoly corporations like the British East India Company, and all-powerful central government. It took two hundred years to overcome Jeffersonian resistance, but Hamilton finally won when TARP was implemented.

Perhaps it is no surprise …


Grassley and Branstad Blowing Smoke on Wind Power

The tax credit for wind energy is back on the agenda, and Iowa’s own Chuck Grassley and Terry Branstad are taking leadership roles in fighting for the extension, going so far as to appear together at a press conference about it.

Wind energy is my favorite target at the moment, because it combines socialist economics, corruption, aesthetic vandalism, junk science, and cynical political machinations – all melting together into a hideous soup of wasted money and ruined skylines.

Tough Love

After the last election, targeting two of Iowa’s best known Republicans for criticism is perhaps a risky business, but for those who think I – with my dislike of leftists – shouldn’t be doing it, I offer the following historical analogy:

In the days of …


Waechter’s Final Pre-Election Weigh In: No Matter How You Vote, the Economy Will Not Improve

I cast my ballot early. I didn’t vote third-party and therefore my vote isn’t being wasted. It also isn’t going to matter.

Since 1990, the United States has run aggregate trade deficits above $8 trillion. This is funny, because in 1990 the M2 metric of currency supply was only $3 trillion. There should be nothing but dust coming out of the ATM machines. We have purchased entire merchant-fleets full of foreign goods, and paid for it by quite literally printing money.

Foreign countries, being more blatant about their currency devaluation policies, have been willing to go along with this arrangement. The result is this dynamic: The US prints dollars to buy goods from China, and the Chinese central bank prints yuan to buy the dollars. …


The Big Spanking

Our grandchildren were over last weekend–two boys ages 5 and 3.  At one point the 3-year-old was telling me about being disobedient and how Daddy had to give him a big spanking.  Now I know my son and I’m sure that he was providing gentle discipline, but the point wasn’t lost and can be applied to last week’s election.

Much has been made of the Republican’s gains in the House and Senate, and their effective control of Congress.  This was clearly a repudiation of the Obama, Reid, and Pelosi policies of economic stagnation.  Make no mistake about it, this was about the economy.  The Democrats insistence on spending taxpayer’s money ineffectively, squandering it, actually, passing huge and unpopular bills, and their complete lack of caring …


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