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Welfare-State Socialism

Saturday, April 18, 2015

Ben Bernanke Defends The Indefensible

Keynesian economics has never, so far as I am able to discover, worked as predicted by theory.  It’s no more than an excuse for liberal-progressives who want an all-powerful government that will, in the name of security, override individuals’ rights to make their own decisions.


Ben Bernanke’s Latest Defense of the Fed’s Failures

Sunday, February 01, 2015

Conflict With Obamacare?

Hold the Applause For Obama’s Demarche On Personalized Medicine
By Betsy McCaughey, in a New York Sun op-ed piece.

Thursday, January 29, 2015

All Distortion, All The Time

Read Conrad Black’s assessment in The New York Sun of the president’s state-of-the-union address.

Sunday, January 25, 2015

What Hath The Fed Wrought?

City Journal columnist Nicole Gelinas gives us a brief overview of the Fed’s failure to deal with the economy’s real problem: too much debt, in 2008, and still today.  The implicit assumption underlying Obama administration policies and those of the Fed is that the way to deal with people who have more debt than they can repay is to encourage them to borrow still more money.


Of Interest at the Fed
No one knows what will happen if the central bank raises rates.


The “wealth effect” created by the Keynesian economic policies of former Fed chairman Ben Bernanke succeeded only in booming the stock market, enriching wealthy bankers, hedge fund operators, and speculators.  Retirees and lower-income ranks of workers have been trashed by near-zero interest rate returns on their savings.

The productive economy has labored for nearly eight years under increasing governmental regulatory strangulation and deficit spending financed largely by the Fed’s quantitative easement, government-bond-buying policy.  Recent slow gains in economic activity have been made, despite Obama’s administrative regulatory policies and constant threats of more regulation and higher taxes.  In fact, the biggest engine of economic recovery has been hydrofracking to produce more petroleum and natural gas, which the Obama administration has sought to kill off and replace with government-subsidized efforts to force use of “green” energy.

Tuesday, December 02, 2014

What’s The Real Deal In Ferguson?

We are confronted with a fundamental Constitutional issue: protecting the rights of individuals against mindless mobs in the streets.

Sunday, November 30, 2014

Liberal-Progressives Attempt To Shred NYC’s Social Fabric

After successive law-and-order administrations, New York City has a class-warfare mayor.  Mayor de Blasio turns his Sandinista-trained, communist revolutionary tactics toward reversing NYC’s hard won, major reductions in its crime rate.  But he may not have the political skill needed to destroy public order entirely.

Identity Politics Crashes at City Hall
Rachel Noerdlinger’s exit highlights the de Blasio team’s intellectual emptiness.

Thursday, November 27, 2014

Ferguson Again

If one listens only to black “leaders” such as Al Sharpton, it’s easy to believe that minorities that feel affronted have a Constitutional right to riot, burn, and loot other people’s property.

Friday, November 14, 2014

Quote Of The Day

Burke Beu describes himself as someone who grew up in a Democratic family, has been a registered Democrat since age 18 and a Democratic candidate for statewide office in Colorado. In a Wall Street Journal op-ed piece he explains why he is denouncing ObamaCare.

“We say that we are the party of the people, but “the people” too often become a singular, monolithic concept for us. We speak for the people, don’t you know, because we can decide what is best for them so they really don’t need to speak for themselves.”

Keynesian Statistics

From one aspect, Keynesian economics is about aggregating many very different kinds of economic data into single indexes.  It is this which animates the Federal Reserve’s monetary policies, Congress’s stimulus spending packages, and New York Times propagandist Paul Krugman’s never-ending calls for increasing governmental deficit spending.

Thursday, November 13, 2014

ObamaCare Sausage

Like sausage, few people knew everything that was packed into it.