Monday, July 25, 2011

From RR
  • Debt-ceiling crisis: how did we get here? Long ago, the United States paid for its declared wars by borrowing money. (‘Buy war bonds.’) It reduced that debt when the war was over, but after the Vietnam War, the nation just kept spending and borrowing. Right, faith-based economics only the faith is Keynesianism.
  • Bondholders and victims: who’s less worthy of compensation?
  • How to be a millionaire in one day! (On paper.) To understand why, try this experiment: Go to your local copy shop, buy ten reams of paper, and have them make five thousand copies of a piece of paper upon which you’ve written “one share of my company” and your name. Then take these five thousand “stock certificates” home and ask a friend to buy one for $200. (If necessary, assure him [or her] that when he gets around to making his certificates you’ll use the $200 to buy one.) Presto! You’re a millionaire! (Five thousand pieces of paper times two hundred dollars each!) Now this sounds silly, but how different is it really from what publicly traded corporations do?
  • The terrorist threat we’re ignoring. a more systemic threat of terrorists or foreign governments exploiting our economy’s penchant for job-offshoring. How? By using our corresponding reliance on imports to stitch security-compromising technology into our society’s central IT nervous system. Sounds farfetched, right? That’s what I thought, until I read a recent article in Fast Company. Covering a little-noticed congressional hearing, the magazine reported that a top Department of Homeland Security official “admitted on the record that electronics sold in the U.S. are being preloaded with spyware, malware, and security-compromising components.”
  • The evil eye: everybody tracking everybody.
  • Libertarianism, the right and the left. Standard: fiscally conservative meets socially liberal is not half-bad under the right conditions (that is, if the social liberal doesn’t try to tell you what to do).
  • Rather than creating jobs and spurring economic growth, the New Green Economy is a black hole for taxpayer dollars that kills job creation.
  • ‘Without the government...’ We’re often told that the budget can’t be cut without all of us sacrificing. This is used as a rationale to raise taxes. But it need not be that way.

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