Author: Redactor

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Thought

C.F. Volney

All the social virtues are only the habitude of actions useful to society and to the individual who practices them; That they refer to the physical object of man’s preservation; That nature having implanted in us the want of that preservation, has made a law to us of all its consequences, and a crime of everything that deviates from it; That we carry in us the seed of every virtue, and of every perfection; That it only requires to be developed; That we are only happy inasmuch as we observe the rules established by nature for the end of our preservation; And that all wisdom, all perfection, all law, all virtue, all philosophy, consist in the practice of these axioms founded on our own organization:
Preserve thyself; Instruct thyself; Moderate thyself; Live for thy fellow citizens, that they may live for thee.

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links

Townhall: The Politic Path of Least Resistance

The looming debt load will some day come a-crashing. But politicians are doing nothing — or nest to nothing — to stop the growth of the debt, and thus keep on piling on the extent and severity of debt.

So click on over to Townhall.com, to read this weekend’s column by Yours Truly, the purveyor of Common Sense, and then come back here for further reading.

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video

Video: Shame on Them

Gathering children to his “against guns” cause, the president continues to kill children — including American children — with his drone program. And his supporters continue to support their man and his murderous and self-contradictory stance:

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Thought

Lysander Spooner

Vices are those acts by which a man harms himself or his property. Crimes are those acts by which one man harms the person or property of another. Vices are simply the errors which a man makes in his search after his own happiness. Unlike crimes, they imply no malice toward others, and no interference with their persons or property. In vices, the very essence of crime—that is, the design to injure the person or property of another—is wanting. It is a maxim of the law that there can be no crime without criminal intent; that is, without the intent to invade the person or property of another. But no one ever practices a vice with any such criminal intent. He practices his vice for his own happiness solely, and not from any malice toward others. Unless this clear distinction between vices and crimes be made and recognized by the laws, there can be on earth no such thing as individual right, liberty, or property, and the corresponding coequal rights of another man to the control of his own person and property.

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Thought

George J. Stigler

A famous theorem in economics states that a competitive enterprise economy will produce the largest possible income from a given stock of resources. No real economy meets the exact conditions of the theorem, and all real economies will fall short of the ideal economy—a difference called “market failure.” In my view, however, the degree of “market failure” for the American economy is much smaller than the “political failure” arising from the imperfections of economic policies found in real political systems. The merits of laissez-faire rest less on its famous theoretical foundations than on its advantages over the actual performance of rival forms of economic organization.

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national politics & policies

Making the Rounds

The “trillion-dollar” coin proposal hit big in the last few months, even garnering a smile, a wink, and a nod from Paul Krugman. The idea was for the government to mint a high face-value platinum hunk of token money and sell it to the Federal Reserve — to weasel around congressional approval for raising the debt limit.

Something very much like it was floated by Populist and inflationist Bo Gritz back in the early ’90s, when he was running for the presidency.

Though the current president has dismissed the notion, people like it so much — perhaps because of its “just so goofy it might work” aspect — that the whole meme is still making the rounds.

As a technical matter, a one trillion dollar coin would probably be too unwieldy. If actually given the go-ahead, the Treasury and the U.S. Mint would likely opt for smaller amounts, cranking out a batch of them — a big batch, to cover the federal government’s rising debt.

My modest proposal? Mint coins at the legal tender amount of $666 million each.

The effigy of Liberty could sport a 666 tattoo on her forehead, and a neat UPC symbol on her wrist, which she could hold up instead of a torch.

That would indicate, by commonly understood symbology, just how dangerous America’s debt really is, and how anti-American the whole idea of the high face-value coinage debt ceiling workaround would be.

Another way to go would be to carve each coin out of coprolite. Another fitting symbol for the last days of our fiat currency.

This is Common Sense. I’m Paul Jacob.

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Thought

C.-F. Volney

Q. Are courage and strength of body and mind virtues in the law of nature?
A. Yes, and most important virtues; for they are the efficacious and indispensable means of attending to our preservation and welfare. The courageous and strong man repulses oppression, defends his life, his liberty, and his property; by his labor he procures himself an abundant subsistence, which he enjoys in tranquillity and peace of mind. If he falls into misfortunes, from which his prudence could not protect him, he supports them with fortitude and resignation; and it is for this reason that the ancient moralists have reckoned strength and courage among the four principal virtues.”

Constantin-François de Chassebœuf (1757–1820), Comte de Volney, The Law of Nature, Chapter VIII.
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ideological culture

What’s in a Game?

I’ve lived near Washington, D.C., for 21 years, but somehow the local obsession for the Washington Redskins has never taken hold. Most of my “NFL time” has been spent rooting for Washington’s agony of defeat.

Recent seasons have been very, very good to me. But this year, an impressive rookie quarterback, Robert Griffin III, led the team into the playoffs. In the opening game, RGIII and the ’Skins jumped out to a 14-0 lead. But Griffin, already hurt, re-injured his knee and had to leave the game. The Seattle Seahawks came back to win, ending the Redskins’ season.

That’s when Washington Post columnist Courtland Milloy pounced, blaming the team’s loss squarely on “bad karma” caused by the “offensive team name and demeaning sports mascot.” Milloy even called the star quarterback a “noble savage.”

Sports columnist Mike Wise urged Griffin to take up the issue of the team’s name. “I just figure that, as a good, decent inhabitant of the planet,” Wise wrote, “he would respect the groundswell of offended people who don’t want to cheer for a team that enshrines America’s persecution of its indigenous people.”

Hey, Native Americans are cool, and U.S. Government policy toward misnamed “Indians” was very uncool — and dishonest and corrupt. So while I hate to see teams being coerced to toss out mascots like Chiefs, Braves, Warriors, Fighting Sioux, Seminoles, Fighting Illini, I think it a grand effrontery that Washington’s football team is named the Redskins.

It’s not just that the name “Redskins” offends — the mascot represents Washington, home to the government that cheated and abused Native Americans.

This is Common Sense. I’m Paul Jacob.

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national politics & policies political challengers too much government

Fiscal Brinksmanship

“America,” President Obama insists, “is not a deadbeat nation.” Mounting evidence to the contrary.

He chastises Republicans for even contemplating a default on the debt. At a news conference this week, he called any attempt to use the debt limit authorization issue to negotiate federal spending down “absurd,” and akin to a hostage situation. Refusing to raise the ceiling, you see, would “crash the economy”:

He demanded that Republicans in charge of the House of Representatives approve a rise in the federal government’s authority to borrow money to pay existing obligations — without seeking policy concessions in return.

The BBC goes on to quote the president, who clarifies his stance. “While I’m willing to compromise and find common ground over how to reduce our deficits,” said the president, he insists that he will definitely not “have that negotiation with a gun at the head of the American people.”

It’s an interesting approach: accuse Republicans of dangerous brinksmanship, while continuing to overspend and increase debt to the very brink of insolvency.

What Obama won’t recognize is that fiscal conservatives, today, play the same role as a parents cutting up their college kid’s credit cards after the young spendthrift had racked up an extraordinary debt. Obama plays the role of the kid saying: I’ve already budgeted spending, you can’t cut up the credit card — that’d be irresponsible!

It was different in 2006, when Senator Obama opposed raising the debt ceiling and called the increasing debt levels a sign of “a failure of leadership.”

Now that he — and not a despicable Republican — has the leadership role, he’s changed his tune. He says his former cry of “irresponsibility!” was itself irresponsible.

The very best thing we can say about this? The president has been captured completely by the forces he once opposed.

This is Common Sense. I’m Paul Jacob.

P.S.Soon after the last period of the above squib was struck, I turned on Fox. And there was Sean Hannity, leading his nightly political opinion show with the president’s remonstrance of Republicans for daring to fix tight the debt ceiling. Hannity noticed what I noticed — indeed, what it turns out a lot of people noticed: Obama’s repudiation of a practice that he himself had engaged in in 2006.

But notice what Hannity is trying to prove: “how reckless, irresponsible and fundamentally dishonest a man [Obama] is.” Hannity sees Obama’s press conference performance as indicative of the president’s hypocrisy, demagoguery, and slipperiness-with-facts.

The case can be made, and Hannity has made it. The trouble is, the way Hannity makes it, to his audience, just skips over precisely this kind of behavior from Republicans. For, remember, Republicans repeatedly voted to increase the debt limit while their guy, Bush, was in charge. Another person to notice the differences between Junior Senator Obama and Second-Term President Obama, young Ms. Julie Borowski (“Token Libertarian Girl”), showed more savvy on Facebook than Hannity does on his primetime program:

Most Republicans are against raising the debt ceiling under Obama. But most were all for it during the George W. Bush administration.

Most Democrats are for raising the debt ceiling under Obama. But most were all against it during the George W. Bush administration.

Pssh, here’s a better idea. Dramatically cut spending. Stop manufacturing fake crises and raising the debt ceiling almost every year to finance drunken spending sprees. And why they are at it, members of Congress should pass a budget for the first time in over three years. It’s no wonder that a recent Public Policy Polling survey finds that cockroaches are more popular than Congress.

No doubt, since insecticide is cheaper and more effective than politics.

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Thought

George J. Stigler

A Swedish physicist can not discuss his work with fifty people unless he goes abroad. A Swedish economist can get opinions and instructions in his native language from thousands upon thousands of his fellow citizens.