Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

March 9, 2009

The $30 Billion Stack of Paper

21 pages of paper is apparently worth $30 billion taxpayer dollars — if you are too big to fail, that is. That’s 1,428,571,428.57 bucks per page. Here’s how ABC reports the story: An AIG report to the Treasury Department last month warned that if the government didn’t come to its rescue again, its collapse would […]

Posted By: Stephen Gordon @ 8:54 pm || Permalink || Comments (5) || TrackBack URI || Categories: Credit Crisis,Economics,Environment,Fiscal Policy,Government Waste
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It’s Not Real — But Not Far Off

Hat Tip: The Big Picture

Posted By: Brad Warbiany @ 6:43 pm || Permalink || Comments (1) || TrackBack URI || Categories: Credit Crisis,Dumbasses and Authoritarians,Economics,Humor
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So, What The Heck’s Up The Economy ? A Roundup Of Mostly Contradictory Opinions

Over the weekend, we learned that the current recession is on the verge of becoming the longest since the Second World War ended: WASHINGTON – Factory jobs disappeared. Inflation soared. Unemployment climbed to alarming levels. The hungry lined up at soup kitchens. It wasn’t the Great Depression. It was the 1981-82 recession, widely considered America’s […]

Posted By: Doug Mataconis @ 8:49 am || Permalink || Comments (3) || TrackBack URI || Categories: Credit Crisis,Economics,Fiscal Policy
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A Picture’s Worth a Trillion Words

Here’s what a trillion dollars looks like…

Posted By: Stephen Gordon @ 8:27 am || Permalink || Comments Off || TrackBack URI || Categories: Credit Crisis,Economics
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March 8, 2009

The Fate Of Banking In 2009 And Beyond

Well, something like this, anyway :-) (language NSFW) The New F***ing Citibank – watch more funny videos

Posted By: Brad Warbiany @ 8:56 pm || Permalink || Comments (2) || TrackBack URI || Categories: Credit Crisis,Economics,Humor
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Joke of the Day

From, here’s one reason people were supposed to vote for Obama: National Debt The federal debt matters. We cannot saddle future taxpayers with having to service the debt we create with our irresponsible fiscal policies. Cutting the deficit will additionally decrease interest rates and increase private investment. Suckers!!!!!!!!! — (not that McCain would have […]

Posted By: Stephen Gordon @ 7:02 pm || Permalink || Comments Off || TrackBack URI || Categories: Credit Crisis,Election '08,Fiscal Policy,Government Waste
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Thought of the Day

You know we’ve got economic worries when the price of potato chips exceeds the price of blue chips.

Posted By: Stephen Gordon @ 10:59 am || Permalink || Comments Off || TrackBack URI || Categories: Credit Crisis,Economics
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Is Obama a Socialist?

Writing that “Calling Barack Obama’s plan socialistic lacks any class,” Albor Ruiz argues that “fear mongering over a ‘class war’ and an Obama conspiracy to turn the U.S. into a ‘socialist’ country is reaching a fever pitch.” He then cites “Tax Hike Mike” Huckabee as an example: Huckabee, no doubt, takes the cake. “Lenin and […]

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March 6, 2009

Will Atlas Shrug? A Compilation of Blogosphere Commentary about “Going Galt”

There’s a new craze hitting the conservative tubes on the Internets these days: “Going Galt!” While it’s difficult to identify an exact date of reference or to provide any unique person with credit for the general meme, Michelle Malkin and Helen Smith certainly deserve honorable mention for recently popularizing the phrase. This movement seems to […]

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March 5, 2009

Going John Galt?

All of a sudden, Republicans are “going Galt.”  To some degree, this is a good thing and about damned time.  My friend Robert Stacy McCain (who went Galt some time ago and never looked back) describes the phenomon like this: Michelle Malkin has begun hammering the “Going Galt” theme, and it’s the subject of a […]

Posted By: Stephen Gordon @ 4:54 pm || Permalink || Comments (9) || TrackBack URI || Categories: Credit Crisis,Economics,Fiscal Policy,Government Waste
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February 27, 2009

Doublespeak — We’re Not Going To Nationalize

What would they call this, then? A new Citigroup deal has finally been announced by the Treasury. The government will convert $25 billion in preferred shares to common shares. The move could give the Treasury close to a 36% stake in the company. The government’s influence is becoming apparent. Citi will eliminate its dividend and […]

Posted By: Brad Warbiany @ 7:55 am || Permalink || Comments (3) || TrackBack URI || Categories: Credit Crisis,Doublespeak,Economics
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February 20, 2009

Santelli’s Tea Party

This might be the best rant about Obama’s $75 billion dollar home mortgage bailout plan I’ve heard so far broadcast by the MSM. Get ready to stand up and cheer this man!

Posted By: Stephen Littau @ 12:05 pm || Permalink || Comments (1) || TrackBack URI || Categories: Credit Crisis,Economics,Media,Quote of the Day,Taxation,The Welfare State
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February 19, 2009

Octomom: A Microcosm of Democrat and Republican Policies Realized

Much to my delight and surprise, the news of Nadya Suleman (a.k.a. Octomom) giving birth to 8 children in addition to her other 6 children she could ill afford to support has not been well received by a large portion of the American public. Octomom seemed to go into this undertaking with the idea that […]

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Resolved: The Economic Downturn Is Not A Market Failure

Matthew Parris has an interesting argument in The Spectator that is worth quoting at length: [A]mid all the doom-mongering and recanting, I have an assertion to make. The market has not failed. The present collapse is evidence that the market is working. Confidence bubbles are an inherent feature of a free market system. Panics — […]

Posted By: Doug Mataconis @ 9:55 am || Permalink || Comments (10) || TrackBack URI || Categories: Credit Crisis,Economics,Theory and Ideas
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February 18, 2009

A Call From The Economist To License Economists

Typical… It takes years of schooling and a series of hard exams to become a doctor or a lawyer, but just about anyone, with enough tenacity, can become responsible for billions of dollars. Pretty much anyone can call themselves an economist and opine about fiscal policy. Perhaps even more troubling, there exists no uniform set […]

Posted By: Brad Warbiany @ 11:11 pm || Permalink || Comments (1) || TrackBack URI || Categories: Credit Crisis,Economics,Government Regulation,Licensing
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Obama’s $ 75 Billion Mortgage Bailout, And Why It’s Doomed To Fail

Later today, President Obama will unveil his plan to help homeowners in mortgage trouble and revive the housing market: Seeking to stabilize the foundering housing market, President Obama is offering a plan to help as many as nine million families refinance their mortgages or avoid foreclosure, according to a summary released by the White House […]

Posted By: Doug Mataconis @ 10:03 am || Permalink || Comments (10) || TrackBack URI || Categories: Credit Crisis,Economics
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Quote Of The Day

Over at The Truth About Cars, Ken Elias looks at the latest requests for an autobailout: This is bad craziness. Never mind the cost. Or the fact that the bailout is doomed to failure. Government money provided to private enterprise on this basis completely distorts the function of the marketplace. It rewards incompetence. It perpetuates […]

Posted By: Doug Mataconis @ 6:57 am || Permalink || Comments Off || TrackBack URI || Categories: Credit Crisis,Economics,Fascism in America,Quote of the Day
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February 17, 2009

Another Looming Bubble: Higher Education

College enrollment has been booming. Schools have not only been adding new seats to existing programs but also adding new programs. And, unlike the free-market process where the supply of a good is expanding dramatically, the price of these seats has been increasing dramatically – much faster than the CPI. The increased attendance at increased […]

Posted By: tarran @ 5:45 pm || Permalink || Comments (2) || TrackBack URI || Categories: Credit Crisis,Education,Government Incompetence
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“How bad is it going to get?

Yesterday, a reader wrote me and asked: “I have been wondering how bad the current economic “crisis” will get. Depending on who I talk to I have been told everything from “this is simply part of the normal cycle of economics” to being told to invest heavily in ammo” Ok, here’s my take on it. […]

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February 15, 2009

Geithner: You Can’t Handle The Truth

I’ve said before, when it comes to government, that they don’t know what the hell they’re doing. Perhaps I was being generous, following Napoleon’s quote: “Never ascribe to malice that which is adequately explained by incompetence.” Perhaps they know exactly what they’re doing, and they just don’t want to tell us: Geithner’s message was well […]

Posted By: Brad Warbiany @ 10:35 am || Permalink || Comments (2) || TrackBack URI || Categories: Credit Crisis,Economics,Government Incompetence,Government Transparency
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