Monthly Archives: October 2008

Quote Of The Day 2 — Nobody Cares What You Think

Credit Crisis, Economics, Politics, Quote of the Day, Theory and Ideas

Yes, Doug already posted one quote of the day, and I’d usually want to push this one off until tomorrow. But this one from Tim Cavanaugh at Reason is just too good.

The topic is the bailout. The implications are far wider:

The bright spot in the bailout argument is that the public—as it does with so much of what the government provides these days—seems to be spurning the offer. But if one pattern has become well established in 2008 economics, it’s that nobody who matters cares what the public wants.

(emphasis added)

That’s the general rule of politics these days, and what everyone in this country seems to be missing. You can call your congressmen, you can vote, you can do whatever you desire. But regardless of what you do, the show will go on. There’s far too much power and money at stake for them to care what you think.

Brad Warbiany
https://thelibertypapers.org/

Quote Of The Day

Credit Crisis, Economics, Quote of the Day

From the Cato Institute’s Daniel Mitchell:

If investors put money into a well-run company, they can increase their wealth. But if they put their money into a poorly run firm, the opposite can happen. In other words, market forces encourage people to make smart decisions so they can prosper. But it is equally important that people bear the consequences when they make wrong choices. Capitalism without bankruptcy (or losses) is like religion without Hell.

Doug Mataconis
http://www.belowthebeltway.com

Question Of The Day

Constitution, Technology

Which provision of the Constitution, propertly construed, authorized the Federal Government to do this:

WASHINGTON — Congress has passed legislation that will require the government to keep closer tabs on who has access to the Internet and who does not.

Supporters hope the Broadband Data Improvement Act will help policymakers better identify areas of the country that are falling behind when it comes to high-speed Internet access.

The bill passed both houses of Congress, with the Senate approving a final version Tuesday on a voice vote.

Senate sponsor Sen. Daniel Inouye, D-Hawaii, said the federal government has a responsibility to make sure Americans have access to the Internet, but “we cannot manage what we do not measure.”

The Federal Communications Commission collects data on broadband use, but its methods have been criticized as outdated. The commission voted in March to greatly improve its data collection. Broadband providers will be required to provide subscription numbers by Census tract, speed and type of technology.

The legislation passed by Congress goes further. It requires the FCC to conduct consumer surveys of broadband use in urban, suburban and rural areas, as well as large and small business markets. Survey questions will include the cost of access and data transmission speeds.

The legislation requires the agency to compile a list of locales that lack broadband service and determine population and income levels in those areas.

Yea, I can’t find it either.

Doug Mataconis
http://www.belowthebeltway.com
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