So the big debate is whether the gov’t should sell their post-IPO shares in GM. At current prices, they’d [unsurprisingly] be losing money on the sale, compared to the amount put up in the bailout. So we have to ask — was it worth it? To determine that, we can’t base our entire calculation on [...]Continue reading Auto Bailout; Can’t Prove A Counterfactual, But You Can Infer
I’ve been spending an inordinate amount of time reading 74 pages of forum posts on an pilot’s message board discussing the crash of Air France flight 447 several years ago. Fascinating stuff. It’s the tale of pilots faced with a situation of mechanical failure, but even worse, a situation which they misdiagnosed and thus took [...]Continue reading How To Deal With A Stalled Economy
Sometimes you hear a guy like Kevin Drum say this: But of course, that’s the real slippery slope. If the state is allowed to prohibit me from killing myself, what else is the state allowed to do? Can it force me to accept medical treatment that will save my life? Can it force me to [...]Continue reading Cognitive Dissonance
Seen over at Megan McArdle’s place today (original source unlinked): Dear Dr. Boli: How can I progress from ordinary sleep into slumbering dogmatically? –Sincerely, “cs.” Dear Sir or Madam: Dogmatic slumber, that easy and comfortable state of resting on one’s unexamined assumptions, has been shown in multiple studies to be greatly desirable for promoting health [...]Continue reading Eternal Sunshine Of The Lazy Mind
Very, very important: When I hear communitarians like Etzioni describe the libertarian view of individualism, I wonder if they’ve ever read any libertarian writing other than a Classic Comics edition of Ayn Rand. … There’s no conflict between individualism and community. There’s a conflict between voluntary association and coerced association. And communitarians dance around that [...]Continue reading Quote Of The Day
From a friend of Billy Beck, relayed on Facebook: “Oil hearings: Government taxes account for 15% of gas price, company profits only 5%. Follow the dots: The government has 3x the incentive to keep prices high and engage in gouging and restrict further supply as the companies do.” Wrong. Well, 90% wrong. The bulk of [...]Continue reading Quote Of The Day
Don Boudreaux from Cafe Hayek: So it dawned on me. Infomercials are the closest phenomenon that the private-sector offers to politics. Fraudulent clowns, skilled at lying, promise gullible audiences something for nothing. The difference, of course – and it makes all the difference – is that no one is forced to buy (either figuratively or [...]Continue reading Quote Of The Day
This is part of The Liberty Papers’ continued Point/Counterpoint feature. Specifically, this Counterpoint is the response to Jeff Molby’s post yesterday suggesting moral equivalency between Arabs cheering in the streets after 9/11 and Americans cheering Sunday night at the killing of Osama bin Laden. ———————————————— A lot of what Jeff said yesterday made sense. We [...]Continue reading Counterpoint: Democracy Doesn’t Mean Collective Responsibility
Well, the son of a bitch is dead. And I’m extremely happy for it. A lot of time is going to be spent on the psychology of this one. I don’t recall anywhere near this level of joy (in myself or in Americans generally) when Saddam was captured & executed. Nor even when Khalid Sheikh [...]Continue reading What A Day!
When I woke up on Wednesday morning to the news that Obama had released his birth certificate, I’ll admit that I was a bit confused. Never interrupt your enemy when he is making a mistake. -Napoleon Bonaparte It seemed to me at the time that the birther distraction was helping Obama greatly, siphoning away reasoned [...]Continue reading Birthers Got Punk’d, Yo!
Everyone knows the Fed is pushing Quantitative Easing. By that, it means that when America is having trouble selling T-bills at advantageous interest rates, the Fed prints up some money to keep demand. It buys the bonds with newly-printed money. The recent run was $600B or so, and the Fed’s current balance sheet holds about [...]Continue reading The Inflation Won’t Come From The Fed
Why we should go after the online poker vendors: There are plenty of victims of (allegedly) illegal online poker, starting with the desperately-short-of-cash federal and state governments which are deprived of all the taxable revenue ($3 billion, say the feds) from the now-suspected operations. And just ask casino and horse racing executives what they think [...]Continue reading Quote Of The Day
A glib question has made the rounds of right-wing blogs over the last two years, asking “Where has the anti-war movement gone?” Megan McArdle uses the question today to introduce a potential answer. As for me, I rarely bring up such trivialities, because the response you usually get from a leftist is “yeah, well why [...]Continue reading Tu Quoque
I got into it a bit over at Drum’s place, where commenters are arguing that the S&P is a bunch of GOP plants because of the negative outlook report. Given that I spent some time analyzing historical revenue & spending tables with a calculator to generate one of my comments, I wanted to expand on [...]Continue reading What’s The Problem, Revenue Or Spending?
In my post on alternate voting systems, I called the Republicans and Democrats the “beast with two asses”, making an allusion to the old “making the beast with two backs” euphemism for sex. However, I think I’ve got an, ahem, more colorful example that works better: American democracy is a threesome where the Republicans and [...]Continue reading Quote Of The Day
Anyone who’s read my work here over the years will have realized that I’m not very interested in political horse races. It’s not to say that I don’t think there is some importance to them (as several contributors here do pay close attention), but that others can cover that stuff far better than I can, [...]Continue reading Preference Voting — Darling Of The LP, But Does It Work?
To all who participated in our fundraising efforts for The Innocence Project, I’d like to give a warm and hearty Thank You! We were able to surpass our goal and bring in $520 for the organization, and I believe the entire fundraiser successfully exceeded their organizational goal of $20K. We here at TLP are honored [...]Continue reading Thank You!
I posted yesterday about Bernard von Nothaus of the Liberty Dollar being convicted. I definitely think the fact support a guilty verdict on the charge of “issuing and passing Liberty Dollar coins intended for use as current money”, but some of the others seem quite a bit ridiculous, such as “conspiracy against the United States”. [...]Continue reading Quote Of The Day
Hard to believe it was over three years ago, but may of us in the libertarian movement will remember the seizure of the Liberty Dollar holdings/equipment/etc. For those new to the movement, the Liberty Dollar was a metal-backed currency presented as an alternative to traditional fiat currencies, but unlike Gold/Silver Eagles, or Krugerrands, or gold/silver [...]Continue reading Liberty Dollar Founder Reportedly Convicted
Not political, but I just thought it hilarious. Megan McArdle, discussing an rumored move by Netflix to develop original television content on their own streaming distribution network: A&E was producing some great original content in the 1990s, but eventually abandoned the strategy and retreated to its core business of rebroadcasting Law and Order reruns. If [...]Continue reading Quote Of The Day