Category: folly

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folly free trade & free markets general freedom ideological culture property rights too much government

Big Government Apologetics

fragile, socialism

Journalists play different roles.

Too few report. Too many engage in elaborate apologetics for favored causes.

Like big government.

Take this headline: “Venezuela’s Crisis Is Rooted In Oil Prices — and Authoritarianism.”

Guess: reporting, or bending over backwards to save socialism?

The article’s summary of the decline and fall of Venezuela is accurate insofar as it indicates assaults on liberty, including nationalizations and monetary inflation. But neither “oil prices” nor dependence on oil spawned Venezuela’s crisis.

Every industry, city and nation will experience unfavorable markets, now and then. But what’s fundamental is their “antifragility.” And, news to journalists: socialist societies are fragile in ways that freer societies are not.

Suppose Venezuela had had a free market when oil prices dropped so precipitously. People would then have shifted, however grumpily, into enterprises now more profitable than drilling for and distributing oil.

It is no blunder to specialize, to exploit comparative advantages in knowledge, skills or resources, and to engage in local, regional or international trade. It’s fine even if an economy’s production and exports ends up being dominated by just one good. What matters is whether people are free or burdened by government controls. If the latter, how hard does government make it to cope with changing circumstances?

Unhampered market prices supply the information and incentives needed to adapt to all kinds of changes. But if an economy is chronically distorted and calcified by government controls, it becomes much harder to adapt . . . and much harder to survive.

Today’s journalists routinely adapt facts to story, rather than adjust stories to reality. Guys, give up the ideological apologetics. Go back to reporting.

This is Common Sense. I’m Paul Jacob.

 

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Categories
folly ideological culture moral hazard

Mass Murderers Are Cool?

Walmart, hammer and sickle, USSR, mass murder, socialism, communism, cool

If you have a lick of sense, you wouldn’t emblazon images of Ché Guevara on your chest or your wall — and yet Ché t-shirts and posters have been a pop culture hit for decades now.

He is cool, we are told, because he was ¡Viva la Revolución! and all that.

But it could get worse. You could be emblazoning a hammer and sickle.

Walmart’s website is there to help. Under “men’s sleeveless,” for example, we see an artistic rendering of the old Communist symbol, frankly identified as a “Soviet Hammer and Sickle,” white on black for $14.97.* Walmart files it under “Pop culture.”

Aren’t men’s sleeveless shirts called “wife beaters”? Should we now call them Kulak Killers?

It’s hip to murder millions!

No wonder Lithuania and several other Baltic countries — who suffered greatly under Soviet rule — object. Indeed, many of these countries go too far in actually banning the symbols. Now, they have contacted Walmart requesting a cessation in hawking the offensive merchandise. “You wouldn’t buy Nazi-themed clothing, would you?” Lithuania’s foreign minister Linas Linkevicius tweeted. Or sell such items.

But a few people might. Certainly, a lot of people do buy stuff that others regard as “Nazi.” Sometimes to be “cool”; other times to make a controversial political point.

At the Uhuru Store, Gavin McInnes’s “ProudBoys Official” sells a “Pinochet Did Nothing Wrong” t-shirt for twice the price of Walmart’s Hammer and Sickle shirt — and that surely has annoyed leftists who have seen it.

I’m waiting for the death of cool.

This is Common Sense. I’m Paul Jacob.

 

* The shirts also come in Navy, Royal and Gray. I guess to get a red commie shirt you have to go for the sleeves.

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folly ideological culture media and media people national politics & policies

Sometimes a Great Moment

Spartacus, Senator Cory Booker, Brett Kavanaugh, hearings, grandstanding, populism

“This is about the closest I’ll probably ever have in my life to an ‘I am Spartacus’ moment,” Corey Anthony Booker said, referring, during last week’s Senate hearings, to his “leakage” of confidential emails from Supreme Court nominee Brett Michael Kavanaugh.

How the mighty have fallen. Senator Booker, when mayor of Newark, seemed an up-and-comer.

Now? A down-and-goer?

“I come from a long line, as all of us do as Americans, of understanding what that kind of civil disobedience is, and I understand the consequences.” It was almost a Br’er Rabbit Briar Patch Moment, performatively suggesting, “whatever you do, don’t censure me.”*

The moment Senator Booker was referring to was from Stanley Kubrick’s Spartacus, where a group of slaves all claim to be Spartacus, the leader of the rebelling slaves. Booker mostly missed the point of a great movie scene. 

That wasn’t all he missed. The emails he leaked (a.) had in fact been previously released to the public; (b.) he knew this; and (c.) they somehow failed to provide that killer proof of Kavanaugh’s racist love of racial profiling.

Funny, in a cringe-inducing sort of way, as when someone tries to tell a mildly risqué joke at a church social . . . and flubs it.

Booker was not the only one to make a fool of himself at the Senate’s Supreme Court nomination hearings. Though Kavanaugh doesn’t seem so scary, Democrats have gone off the beam, even so far as to engage in ululations of protest.

Why?

I have several theories. But maybe it’s just that they are out of power.

It’s especially hard being out of power when power is what you are all about.

This is Common Sense. I’m Paul Jacob.

 

* Being seen as the underdog is so persuasive that some will put themselves under a dog.

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Categories
folly ideological culture too much government

Not So Great . . . Again

pie in the sky, America, great, Cuomo, Trump, government, fantasy, utopia

“We’re not going to make America great again,” New York Gov. Andrew Cuomo proclaimed at a bill-signing ceremony this week. And then, further poking the president, the governor added, to gasps from the audience: “It was never that great.”

America — for all its faults, failings, and wrongdoings — has been a tremendous force for good, for freedom. At the same time, talking about how great we are really seems . . . what’s the word? Boastful.

“We have not reached greatness,” Cuomo went on to clarify. “We will reach greatness when every American is fully engaged. We will reach greatness when discrimination and stereotyping against women, 51 percent of our population, is gone and every woman’s full potential is realized and unleashed and every woman is making her full contribution.”

This is pie-in-the-sky stuff. Utopianism. The state government of New York is not going to succeed — or even actually try — to “engage” every citizen “fully.” Neither will the Empire State help “every” female New Yorker to self-actualize . . . while magically wiping out “stereotyping.”

When very real governments fixate on fantasy, they can only fail. Achievable responsibilities — like fixing roads, improving schools, enforcing laws — fall by the wayside. 

Both President Trump and Governor Cuomo would do well to concern themselves with running the government. Leave the greatness to the rest of us.

Oh, and the rest of the story? 

“I’m Andrew Cuomo, and I work for you,” the governor said in a 2010 video announcing his entry into the gubernatorial race. 

“Together,” he went on to declare, “we can make New York great again.”

This is Common Sense. I’m Paul Jacob.

 

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folly government transparency national politics & policies too much government

It’s Only Money

Lunacy, money, Congress, health care, magic, ACA, budget, spending

“If we can put a man on the moon,” went the old 1970s saw, we can do . . . well, fill in the blank.

Anything!

Man, can that “anything” get really expensive. And when promoters of big government drive the program, anything quickly serves as a first-stage rocket to everything.

During the 2016 campaign, a Democratic Party activist knocked on my door to express confidence that Democrats would provide greater healthcare benefits. “Can we afford that?” I asked.

The question caught her off-guard, but after reflecting on the affordability for a brief moment on my step, she decided, what the heck, surely the great “we” can swing it.

Vermont Senator Bernie Sanders, the conscience of the Democratic Party (that he refuses to join), likewise ponders healthcare. Sans cost, again, focusing exclusively on bestowing benefits. 

Sanders has introduced legislation mandating that the federal government provide Medicare for All.

Fortunately, the folks at the Mercatus Center at George Mason University are not so arithmetic-averse, calculating the price tag for the socialist senator’s bill to be a whopping $32.6 trillion (with a “t”) over ten years. 

In fiscal 2019, the U.S. Government plans to spend $4.4 trillion, borrowing a trillion dollars of that to keep the federal spigots spewing cash. So, Bernie suggests nearly doubling annual spending, placing a giant $3.3 trillion cherry on top of the current fiscal pig-out. 

And who in Washington has any credibility left to argue against the socialist urging evermore deficit spending on top of massive debt and gargantuan liabilities? 

President Trump? Republicans in Congress? The very architects of annual trillion-dollar deficits for the foreseeable future?

 That “lunacy” refers to the moon? Mere coincidence.

This is Common Sense. I’m Paul Jacob.

 

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Categories
Accountability folly free trade & free markets general freedom moral hazard property rights responsibility too much government

Poison Is Poisonous

poison, inflation, Venezuela, socialism, free markets, capitalism

Venezuela’s socialist economy has been collapsing.

No big mystery. If, out of hostility to capitalism, a society keeps destroying everything that production, trade, and prosperity depend upon, the economy suffers. The benefits of markets don’t flow no matter what.

One assault has taken the form of hyperinflation — runaway printing of currency, done in part to dissolve government debt. Many Venezuelans are resorting to barter. It’s easy to understand why.

Or is it? A Reuters reporter says that economists say that “the central bank [of Venezuela] has not printed bills fast enough to keep up with inflation, which . . . reached an annual rate of almost 25,000 percent in May.”

So go faster!?

Dude. Dude. The massive expansion of Venezuela’s money supply is what’s causing massive jumps in prices. Just like any other economic good, the medium of exchange is subject to the laws of supply and demand.

Other things being equal, enormously increasing a supply of a good will enormously lower its market value or price. Money, too, has a price — in terms of the non-monetary goods being bought. If the pre-hyperinflation price of a dollar in terms of bread is one loaf and the post-hyperinflation price is one bread crumb, you won’t reverse the decline by printing even more dollars or bolívars even faster.

If you’re ingesting poison, you can’t fight the effects by being poisoned more and harder. The very first thing to do is stop ingesting the poison.

This is Common Sense. I’m Paul Jacob.

 

 

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