Category: responsibility

Auto Destruct

car, automobile, auto, loan, bubble, illustration

Just when you thought it safe to go back into the loan market.…

Yes, you guessed it: a bubble may be about to pop.

There are actually several, but here’s one you might not expect: the automobile loan market.

Though less regulated and tampered with than the housing market, auto loans aren’t immune to “moral hazard” and other government-induced dangers. The Fed’s low interest rates are almost certainly stimulating the new car market. “Subprime” car loans are way up and so are delinquencies. Do the bankers making these decreasingly solvent loans expect a bailout?

As Eric Peters notes at his immensely fascinating automobile website, the average car loan is now $32,000, “a record high.” And then there’s the “ever-increasing duration of new cars loans. They are now on average six years long — and seven year loans are becoming pretty common.”

Why? “In order to spread out payments (now averaging almost $500 a month) that have become simply too much to manage for most people.”

But then of course car prices are rising. And not just because of simple inflation. It’s the result of government regulations, mandates, and … general craziness. Many buyers now finance used car purchases, too, as Mr. Peters explains. That used to be fairly uncommon. The used-car market has been unduly affected by government insanity as well. Remember Cash for Clunkers? Politicians boasted about their managed destruction of millions of used autos.

What they really achieved was a tighter-than-ever supply of usable older cars.

Cruising toward the auto-destruct of the auto-loan markets.

This is Common Sense. I’m Paul Jacob.

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Tags bubble, housing bubble, loans, moral hazard

Accountability initiative, referendum, and recall insider corruption responsibility

Four Powers on the Chopping Block

Post author By CS Admin
Post date April 7, 2016
2 Comments on Four Powers on the Chopping Block

Ohio, initiative, lawmakers, congress, pay,

A group of Ohio citizens isn’t leaving the maintenance of ethical standards in government to the politicians. Smart. Forming a political committee, “Ethics First — You Decide Ohio,” the group filed an initiative to amend the state constitution unsurprisingly called, “Ethics First.”

What does the ballot measure do?

“Ethics proposal would cut state lawmaker’s pay and power,” said the segment on Cleveland’s NBC affiliate, WKYC-TV 3.

The initiative limits base pay for the state’s part-time legislators to the median household income of full-time Ohioans. Because Ohio is one of only six states in which legislators pay themselves more than median household income, the measure, if in effect today, would mandate cutting legislators’ base pay from $60,584 annually to $49,644.

“The purpose is not to cut their pay,” explained spokesman Jack Boyle. “The purpose is to make their pay related to what happens to all of us in Ohio. If we’re doing well, their pay will go up. If not, it will go down.”

What legislative “power” will be cut?

The amendment takes away four powers:

The power of legislators to exempt themselves from laws and taxes other Ohioans must follow and pay,
The currently unlimited power of legislators to raise their own pay,
The power to be a paid lobbyist before the legislature within two years of leaving office as a state legislator, and
The power of legislators to destroy legislative records, including electronic records, within four years.

All the other powers of the legislature remain completely intact.

How would you vote: Yes or No?

This is Common Sense. I’m Paul Jacob.

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Tags ballot initiative, Congress, initiative, initiatives, lawmaker, legislators, legislature, Ohio

Accountability crime and punishment education and schooling insider corruption local leaders responsibility

Schooled in Corruption

Detroit, kickbacks, bribes, crime, education, schools

Michigan’s governor just signed a $49 million emergency funding bill, designed by legislators to keep Detroit’s public schools open.

Open for what?

Will any of that dough actually make it to the classroom, where children might possibly be educated?

Or, as I inquired at Townhall yesterday, is it merely another opening for … graft?

Less than a week after the rescue bill, U. S. Attorney Barbara McQuade brought criminal charges against more than a dozen DPS principals and administrators, as well as a vendor of school supplies. Their kickback scheme was simple: school officials received big, fat bribes from the vendor for school supplies that, as the Detroit Free Press put it, “were rarely ever delivered.”

The scam involved at least twelve separate Detroit schools over as long as 13 years. During that time, more than $900,000 was paid in bribes to DPS officials.

The newspaper highlighted how “shocked” teachers were that their principals had been indicted. “It’s pitiful that they’re going after principals who are probably just doing what they need to do even if it might be a little bit unethical in order to provide the students in their schools with the supplies and materials that they need that district and the state should be providing us,” was the excuse one teacher offered.

“A little bit unethical”?

Frankly, the fraud didn’t deliver, but deny “supplies and materials” to students — supplies taxpayers had sacrificed to provide.

This same teacher added that her indicted principal is “always putting students’ interests first. It’s not just rhetoric with her. It’s actual practice.”

Except for the graft.

This is Common Sense. I’m Paul Jacob.

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Tags bribery, crime, Detroit, education, graft, public schools, schools

crime and punishment folly ideological culture responsibility too much government

Pincher, Pinchee

police, crime, law, rights, pinch, juvenile, illustration

Limited government sports several rationales. The need for it pertains on many levels. One such level we don’t think about enough? This: Not every rights violation warrants calling in the law.

Take the strange case of Breana Evans, 12-year-old assailant, charged with misdemeanor battery.

What did she do?

She pinched the gluteal posterior of a boy she did not know.

Now, pinching the butt-end of strangers is a breach not only of decorum (to the extent that this standard we call “decorum” even exists any more), but of a pinchee’s rights.

Yet it was a mere pinch.

And the boy did not press charges.

The school’s “resource deputy” did not arrest her; she was merely suspended from school.

It would have remained a minor matter (so to speak) had not the boy’s mother “insisted to police that he was the victim of battery, and so they had no choice but to arrest Breana,” as Robby Soave explained over at Reason. “She was Mirandized and put in a patrol car. They took her mugshot and booked her into juvenile detention.”

The escalation of the dispute over carnal rites and personal rights into a matter fit for the police is, it seems to me, a grave result of a sort of cultural hysteria about all sorts of things. The willingness of some adults to push children through our harsh, bureaucratic, and often ruthless criminal justice system is sad to behold.

It is more indecent than a pinch.

This is Common Sense. I’m Paul Jacob.

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Tags assault, child, children, crime, law, public schools, rights

Accountability folly government transparency incumbents local leaders responsibility term limits

Incumbent Upon Heaven

Markwayne Mullin, term limits, lies, Oklahoma, politicians, lie

Many who pledged to limit their terms in Congress have gotten elected and, then … actually kept their word. Yet, with the temptations of power, combined with the acute narcissism of politicians, not a few have flung their honor aside to break their promise.

Four years ago, Oklahoma Congressman Markwayne Mullin was a challenger, “who pledged repeatedly … not to serve more than six years in the House.” Okie voters limited their congressional reps to three terms (six years) via a ballot initiative back in 1994. Of course, the U.S. Supreme Court struck down that and 22 other state-imposed congressional term limits laws just a year later.

NewsOK.com reporter Chris Casteel asked Rep. Mullin if this coming term would, as Mullin vowed, be his last.

A simple yes or no question, eh?

Well, the incumbent’s response was less than unequivocal, “leaving open the possibility that he may run for a fourth term,” Casteel reported.

“Our position on this has not changed,” read Mullin’s official statement. “However, Christie and I will continue to seek the Lord’s guidance and do what is best for our family and the 2nd District of Oklahoma. The only election I am focused on right now is in 2016.”

Hmmm. Do you recall the Lord ever guiding anyone to break his word to the people?

What a dodge!

Mullin is like a burglar announcing, “I’m not sure if I’m going to rob your home when I get out of jail. That’s too far off in the future. But I’m seeking spiritual advice about it.”

Come to think of it, incumbent politicians and burglars have quite a lot in common.

But not Common Sense. I’m Paul Jacob.

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Tags Markwayne Mullin, oklahoma, politicians, sneaky politicians, term limits, U.S. Term Limits

meme national politics & policies responsibility

Trump’s Empire?

Donald Trump, Thomas Jefferson, empire, entangling alliances, meme

The next president will take office as this year’s $544 billion deficit pushes up the U. S. national debt to nearly $20 trillion … which is chicken feed compared to nearly $127 trillion in unfunded liabilities racked up by our entitlement state.

And, on top of that, add our outrageous world policeman fees.

The Washington Post reports that, “thanks to various treaties and deals set up since 1945, the U.S. government might be legally obligated to defend countries containing 25 percent of the world’s population.”

And boy, has America, World Policeman, been active! The U. S. military is well into a second decade of wars in Iraq and Afghanistan, engaged in ongoing armed conflict in Libya, Pakistan, Somalia, Syria and Yemen, and with ISIS and its terror, not seemingly degraded at all but growing.

No wonder, then, that the iconoclastic Donald J. Trump questioned — at a Washington Post editorial board meeting, just before the Brussels terrorist attacks — the wisdom of U.S. commitments to NATO, South Korea and Japan.

“NATO was set up when we were a richer country,” Trump explained. “We’re not a rich country. We’re borrowing, we’re borrowing all of this money. We’re borrowing money from China.…”

So why subsidize wealthy countries? “Well, if you look at Germany … Saudi Arabia … Japan … South Korea — I mean we spend billions of dollars on Saudi Arabia, and they have nothing but money.”

Lest I get my hopes up too high, it seems unlikely that Trump would change actual policy, but simply make “a much different deal with them, and it would be a much better deal.”

Here’s an even better deal, as our third president, Thomas Jefferson, articulated: “Peace, commerce, and honest friendship with all nations. Entangling alliances with none.”

It’s quite affordable.

This is Common Sense, I’m Paul Jacob.

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