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

February 13, 2009

Paul Krugman — A Failure To Rise To The Challenge

Paul Krugman, who doesn’t believe the spending is big enough, on the politicians: And I don’t know about you, but I’ve got a sick feeling in the pit of my stomach — a feeling that America just isn’t rising to the greatest economic challenge in 70 years. The best may not lack all conviction, but […]

Posted By: Brad Warbiany @ 4:32 pm || Permalink || Comments (15) || TrackBack URI || Categories: Credit Crisis,Economics,Government Waste,Monetary Issues
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February 12, 2009

Resist The Stimulus

Now that the members of the United States Congress have ignored the American people and are set to steal and borrow around $800 billion for a “stimulus” package which benefits left-wing special interests, political machines on the state and local level, and other vote buying programs in general; those of us who actually believe in […]

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February 11, 2009

Feds to Launch New Comedy Site

From FinancialStability.gov (props): This site is coming soon. On Tuesday, February 10th, Treasury Secretary Timothy Geithner outlined a comprehensive plan to restore stability to our financial system. In the address, Secretary Geithner discussed the Obama Administration’s strategy to strengthen our economy by getting credit flowing again to families and businesses, while imposing new measures and […]

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February 7, 2009

Stimulis: Because all economies have performance issues

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February 4, 2009

“Socialism on Trial” Will Necessitate Republican Defendants

About the direction the Republican Party should take, Craig Shirley said: “The 2008 campaign was never an honest choice between conservatism and liberalism. Really, it was just a referendum on George Bush,” said Craig Shirley, a consultant and author of a forthcoming book on the 1980 presidential campaign. Shirley thinks equating Democratic values with socialism […]

Posted By: Stephen Gordon @ 2:59 pm || Permalink || Comments Off || TrackBack URI || Categories: Economics,Government Waste,Huckabee Watch,Monetary Issues,Republicans,The Welfare State
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February 2, 2009

Socialist Death Throes in Zimbabwe

Socialism/Communism has largely caused the collapse of any nation that’s truly tried it. Russia is the biggest example; China has seen the writing on the wall and has allowed economic modernization and liberalism to creep into their country to keep the system moving. Even most of Europe, who we libertarians would consider democratic socialists, understand […]

Posted By: Brad Warbiany @ 9:46 am || Permalink || Comments (2) || TrackBack URI || Categories: Foreign Affairs,Monetary Issues,Socialism
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January 28, 2009

More Government Spending Required to Stimulate the Economy? At Least 207 Economists Disagree

Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we the undersigned do not believe that more government spending is a way to improve economic performance. More government spending by Hoover and Roosevelt did not pull the United States economy out of the […]

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Quote Of The Day

From The Economist’s Free Exchange Blog, discussing Boeing’s layoffs and our Fed’s response to the economic crisis: This is fortuitous—Boeing, as it happens, manufactures helicopters. It would seem that Ben Bernanke is in the market for one. And yet, somehow I’m sure Bernanke won’t be flying over my house with that chopper…

Posted By: Brad Warbiany @ 3:21 pm || Permalink || Comments Off || TrackBack URI || Categories: Credit Crisis,Economics,Monetary Issues,Quote of the Day
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January 26, 2009

They Sold Us The Rope… Too Bad They’re Tied To The Other End

I’ve pointed out the old saying — “If you owe the bank $5,000 and can’t pay, you have a problem. If you owe the bank $5,000,000,000 and can’t pay, the bank has a problem.” Well, the bank has a problem: What he might have said was that the nations funding the majority of America’s public […]

Posted By: Brad Warbiany @ 4:41 pm || Permalink || Comments Off || TrackBack URI || Categories: Credit Crisis,Economics,Foreign Affairs,Monetary Issues
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MV = Py

So, as evidence that I’ve never taken a true macroeconomics course, today was the first time I’ve ever seen this equation… M – Monetary base V – Velocity of money P – Price level y – Real GDP People have asked my how I can claim the Fed/Treas are inflating when P and y are […]

Posted By: Brad Warbiany @ 1:17 pm || Permalink || Comments (8) || TrackBack URI || Categories: Credit Crisis,Economics,Monetary Issues
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Bailouts Are Not Sexy

Extreme obesity could be defined as an abnormally large accumulation of body fat. Consequences of obesity include illness, disability and death. While treatment options vary (i.e. dieting, liposuction, medications, surgery), increasing caloric, fatty or carbohydrate intake clearly isn’t the correct solution. In other words, you aren’t going to shed 10,631,467,593,243.45 pounds by consuming a 7,940,000,000,000.00 […]

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January 22, 2009

It’s Good To Be The King

From The Economist’s Free Exchange blog, the Brits are learning that you can’t play the King when you’re only a Duke: Do not do as America does, unless you are a very big country (or economic bloc). That seems to be the lesson Britain is learning as the pound weakens and confidence in the credit […]

Posted By: Brad Warbiany @ 10:11 pm || Permalink || Comments (1) || TrackBack URI || Categories: Credit Crisis,Economics,Foreign Affairs,Monetary Issues
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January 18, 2009

How Many of Your Tax Dollars Will Be Used to Pay for Obama’s Big Party?

MSM advice about Obama’s inauguration: So you’re attending an inaugural ball saluting the historic election of Barack Obama in the worst economic climate in three generations. Can you get away with glitzing it up and still be appropriate, not to mention comfortable and financially viable? To quote the man of the hour: Yes, you can. […]

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January 12, 2009

Kevin Drum — Why Can’t We Have It All?

Kevin Drum is looking at the benefits of massive fiscal stimulus as well as tax cuts… And he wonders why we don’t do both? Stimulus spending can (we hope) help keep the economy afloat over the next couple of years, but then what? When the economy starts to recover, it will certainly be helped along […]

Posted By: Brad Warbiany @ 1:07 pm || Permalink || Comments (2) || TrackBack URI || Categories: Credit Crisis,Economics,Monetary Issues,Taxation
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January 11, 2009

Another Permanent State of Emergency

Many people have expressed a hope that Barack Obama will be an improvement over George Bush and that he will roll back some of George Bush’s excesses.  They see in Obama a man who understands nuanced argument, who at least acknowledges that those who oppose his policies can have good reasons and arguments for doing […]

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January 9, 2009

Why Haggle Over What Goes Where?

Felix Salmon sees an odd silver lining in 7.2% unemployment: Maybe the only real upside to this report is that it should light a fire under Congress to pass a stimulus package sooner rather than later — including the release of the second tranche of TARP funds. Let’s start getting money out the door now: […]

Posted By: Brad Warbiany @ 4:32 pm || Permalink || Comments (3) || TrackBack URI || Categories: Credit Crisis,Economics,Government Waste,Monetary Issues
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December 29, 2008

Grievous, That’s What

Kevin Drum, in response to a Tyler Cowen post explaining that we have very little evidence that fiscal stimulus actually works, suggests we try it anyway: But do we need examples? I’d argue that we’re basically in terra incognita today. In the postwar era, we’ve virtually never seen an industrialized country, let alone the whole […]

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December 19, 2008

A Primer on Money

Money is critical to civilization. Without it, the capital improvements and complex economic processes are impossible, and there will be a very weak form division of labor. Money allows humanity to rise above the savagery of stone age existence. Yet most people don’t understand what money is, how it is created and how it can […]

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Condemning Those Who Forget History

Financial analysts are starting to notice a disturbing correlation between the present economic crisis and the roots of the stagnation that gripped Japan for the better part of a decade starting in the 1990s. In today’s New York Times, for example, Martin Flacker notes a surprising similarity between what the Federal Reserve has been doing […]

Posted By: Doug Mataconis @ 12:08 pm || Permalink || Comments (4) || TrackBack URI || Categories: Credit Crisis,Economics,History,Monetary Issues
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December 12, 2008

Quote Of The Day

“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.” Ludwig Von Mises After […]

Posted By: Brad Warbiany @ 11:16 am || Permalink || Comments Off || TrackBack URI || Categories: Credit Crisis,Economics,Monetary Issues,Quote of the Day
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