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Today

New Connecticut?

On January 15, 1777, New Connecticut declared independence from the crown of Great Britain and the colony of New York.

Delegates first named the independent state New Connecticut and, in June 1777, finally settled on the name Vermaont, an imperfect translation of the French for Green Mountain.

This new “Vermont Republic” minted copper coins (see above), first struck in 1785. The people of Vermont took part in the American Revolution although the Continental Congress did not recognize the jurisdiction, because of vehement objections from New York, which had conflicting property claims.

In 1791, Vermont was admitted to the United States as the 14th state, upon which its minting of coins ceased.

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Update

Update: California’s Hospitals

Last Thursday, in “The S-Word in California,” the subject was the danger posed to the stability of the Golden State’s medical system by the promise to guarantee service to nearly a million new illegal immigrants.

But one mechanism of this instability was not brought up, for reasons of space: the politicians’ past, as well as present, promises do not recompense hospitals at anything like a market rate. Which leads to insolvency. Which does not help the poor:

Across a state with the highest proportion of millionaires in the nation, 1 in 5 hospitals are now at risk of closing, according to a study released earlier this year by the California Hospital Association. Many serve the state’s rural redoubts, whose populations are often disproportionately poor and underinsured, and inner-city neighborhoods such as south-central Los Angeles.

Scott Wilson, “A hospital’s abrupt closure means, for many, help is distant,” Washington Post (November 16, 2023).

Now, the recent legislation discussed ostensibly solves the problem, as the Washington Post puts it:

As part of the final state budget, state lawmakers also approved one of the largest increases in years in the rates that Medi-Cal will reimburse hospitals for services. The move is particularly important for rural counties: While about 40 percent of California’s population is covered by Medi-Cal, the rate in Madera is nearly twice that.

And, beginning next year, all of California’s more than 2 million undocumented residents will be eligible for coverage under Medi-Cal, adding another 700,000 undocumented residents to the state insurance plan, meaning hospitals will no longer have to absorb their costs.

If it be true that the rates of reimbursement from Medi-Cal will now cover actual costs, then, as stated on Thursday, that will be an extra burden on the California taxpayer. But upping the rates is not a market phenomenon — a monopsonistic practice by definition — and the Post does not analyze whether the rate hikes will be enough to prevent more hospital failures. Like Medicare’s rates of reimbursement, these are historically pennies on the dollar, and vary widely by procedure and service, adding to administrative burden.

So of course politicians talk about adding more subsidies upon existing subsidies.

The spiral of burdens and benefits just goes out of control, as we would expect when governments seek to replace actual, effective markets for government “solutions.”

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Thought

Jack Sarfatti

When you say “the government” . . . there is no such thing any more. There’s no government; we’re in a state of chaos.

Jack Sarfatti, in conversation with Danny Jones, KONCRETE Podcast, “CIA Funded Physicist Exposes Mind-Drive UFOs, Warp Drive & Time Travel,” Part One (August 28, 2023).

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Today

Against Slavery

On January 14, 1514, Pope Leo X issued a papal bull against slavery.

On the same date in 1639, the first written constitution to create a government, the “Fundamental Orders,” was adopted in Connecticut.

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by Paul Jacob video

Why Should Americans Defend Taiwan?

Paul Jacob is in Taiwan right now, so the question is on his mind. He has a few answers. And you have a few options:

  1. Listen to his talk on SoundCloud (where his podcasts were hosted).
  2. Watch the talk on StoptheChinazis.org.
  3. Go to Facebook to watch the video or chat about it with your social media contacts.
  4. Watch it below; comment on it below:
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Thought

George Santayana

Almost all nations and religions, and especially the liberal party in them, think themselves the salt of the earth. They believe that only their special institutions are normal or just, and hope to see them everywhere adopted. They declare that only the scriptures handed down by their own clergy are divinely inspired; that only their native language is clear, convenient, deeply beautiful, and ultimately destined to become universal; that only the logic of their home philosophers is essentially cogent; and that the universal rule of morals, if not continued in tablets preserved in their temple, is concentrated in an insoluble pellet of moral prejudice, like the categorical imperative of Kant, lodged in their breast. Not being content, or not being able, to cultivate their local virtues in peace at home, they fiercely desire to sweep everything foreign from the face of the earth. Is this madness? No: I should say it was only haste, transposing a vital necessity into absurd metaphysical terms. Moral absolutism is the shadow of moral integrity.

George Santayana, The Genteel Tradition at Bay (1931), p. 27.
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Today

Nullification?

On January 13, 1833, United States President Andrew Jackson (pictured, top left) wrote to Vice President Martin Van Buren (pictured, top right) expressing his opposition to South Carolina’s defiance of federal authority in the Nullification Crisis. Jackson insisted that “the crisis must be now met with firmness” and “the modern doctrine of nullification & succession put down forever.”

South Carolina had blamed protectionist high tariffs for the severity of the economic slump of the time, and Andrew Jackson’s compromise Tariff of 1832 was still too much special-interest “protectionism” for South Carolina, which threatened to nullify the law as unconstitutional. Jackson, a nationalist at heart, had no sympathy for dissidents in the southern states. (The tariffs were designed by northern politicians to encourage the growth of industry. The belief among most economists of that time was that such high “protective” tariffs favored certain businesses at the expense of the general consumer, particularly farmers and agricultural producers.) After the crisis subsided, tariffs were further reduced from the 1832 level, much lower than of 1828’s “Tariff of Abominations,” which had been signed into law by President John Quincy Adams — and written mainly by Martin Van Buren as a way to precipitate the election of Jackson.

Since the somewhat ambiguous end to the Nullification Crisis, the doctrine of state prerogatives — “states’ rights” — has been asserted by opponents of the Fugitive Slave Act of 1850, proponents of California’s Specific Contract Act of 1863 (which nullified the Legal Tender Act of 1862), opponents of Federal acts prohibiting the sale and possession of marijuana in the first decade of the 21st century, and opponents of implementation of laws and regulations pertaining to firearms from the late 1900s up to 2013. State opposition to ObamaCare has also recently conjured up the issue.


On January 13, 1898, Émile Zola’s J’accuse exposed the Dreyfus affair.

Categories
deficits and debt national politics & policies political economy

The Economy Is Great-ish

“We have the highest share of working-age Americans in the workforce in 20 years,” Biden recently told reporters. “It’s no accident. It’s Bidenomics.”

Bidenomics being that old standby, tax-and-spend-omics.

So why do so many Americans think the economy is getting worse? Why do 84 percent say that their costs have gone up?

Well, says President Biden, the media mislead them. “You all are not the happiest people in the world [in] what you report,” is his view. “You get more legs when you’re reporting something that’s negative.”

The media do often mislead us; the negative news bias is real.

But I don’t think that our left-leaning, in-the-tank-for-Biden media can be blamed for the impression so many of us have that it’s harder to make ends meet.

Biden isn’t the only one professing puzzlement. Breitbart Business Digest observes that a “small army of establishment media types and economists” are intent on “unraveling what they take to be the great mysteries of our time.” As described by a recent Brookings Institution paper, this mystery is the “disconnect between consumer sentiment and the state of the macroeconomy.”

As BBD points out, the Brookings researchers simply start by assuming that everybody is wrong, then try to figure out why.

“A simpler explanation would be that the economy is falling short of the public’s expectations” because of things like high inflation, higher interest rates, and greater difficulty paying for groceries, Christmas presents, vacations. And rent, and medical bills, and tuition.

Saying it’s all in our heads won’t make tough times go away.

This is Common Sense. I’m Paul Jacob.


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Thought

Leigh Brackett

Knowledge is not like sin. There is no mystical escape from it.

Leigh Brackett, The Long Tomorrow (1955).
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Today

Fast Ford

On January 12, 1904, Henry Ford set a land-speed record of 91.37 mph on the frozen surface of Lake St. Clair in Michigan, driving a four-wheel vehicle, dubbed the “999,” with a wooden chassis but no body or hood. Ford’s record was broken within a month, but the publicity from Ford’s achievement was valuable to the auto pioneer, who had incorporated the Ford Motor Company the previous year.