We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
ARNOLD KLING: “For quite a while, but especially over the last nine months, the best way to predict developments in politics and finance has been to ask: what will do the most to increase the concentration of power? Every headline, from the Geithner regulatory plan to the proposed cap on the charitable deduction, to the resignation of the General Motors CEO, should be viewed in that light.”
A splendid essay: Oh, What a Wonderful Recession. One quote:
These pundits, left-leaning economists, and other designated “experts,” differ on the precise ramifications of the vanished “American Dream,” but the crux is similar: we’re entering a long, long era of reduced expectations and simpler way of life. Considering the sources—and academia is the epicenter—it’s not surprising that “Reaganism” is now a filthy word, Wall Street money-grubbers are and will be considered pariahs on the order of pornographers and ambulance-chasing lawyers, and high taxes are both necessary and desirable. An element of this commentary is the lingering resentment of the Bush years—the “stolen” election of 2000, Kerry’s loss in ’04, and the supposed philistinism of the former president—but the larger theme is, hey, we’re now in charge! Most of the writing expresses hostility to entrepreneurship and the commercial world, the belief that business, large and small, is somehow dirty, anti-intellectual, and brings out the worst in people. The underclass must be protected because it’s too fragile to be trusted to the greedy, corrupt upper class; a huge, benign government needs to steer such unfortunates in their private and professional lives.
Typical of this paternalistic mindset is the cover story of April’s American Prospect, “Less is the New More: Why post-consumer America could be a better place,” written by Cornell University economist Robert H. Frank, an out-and-out exercise in wishful thinking that’s not uncommon among self-styled “progressives,” who, between the lines, believe that the current financial collapse will ultimately be recorded as a positive paradigm shift. In other words, to use the catchphrase from Martha Stewart, one of the discredited icons of the “greedy” culture that purportedly began with Reagan, the continuing economic crisis can be turned into “a good thing.”
Absolutely pathetic. Read the whole thing, and weep for our spineless, pitiful and over-educated, decadent and entitled co-citizens. Our elites just don't get it.
I caught a couple of minutes of Beck's show last night. He asked an economist if WWII or the New Deal ended the Depression.
The economist answered: "FDR's ended the Depression by dying." At that point the adults took over again, spending came down to reasonable levels after the war, and business had consistent / stable rules.