Yeah, I’m a day late, but it’s still good stuff!
- The Bailout: An Owner’s Manual
Congratulations. If you’re an American taxpayer, you’ve just become the owner of a brand-new $700 billion attempted bailout of the U.S. financial system. After a 263-171 vote by the U.S. House of Representatives Friday, President Bush signed the legislation, aimed at rescuing the freezing credit markets in an effort to shore up the failing economy.
- Analysis: What’s killing the Russians?
Predictions that Russia will again become powerful, rich and influential ignore some devastating problems at home that block any march to power.
- Chaos — Mathematical and Financial
The most honest and productive answer to questions about the effects of economic policy is rarely heard: “Duh, I don’t know.”
Being a fan of Austrian Economics, I provide the following links to articles at LewRockwell.com:
- What Hamilton Has Wrought
The current economic crisis is the inevitable consequence of what I call Hamilton’s Curse in my new book of that name. It is the legacy of Alexander Hamilton and his political, economic, and constitutional philosophy. As George Will once wrote, Americans are fond of quoting Jefferson, but we live in Hamilton’s country.
- The Political Class Crosses the Rubicon
Many of us are at a loss for words to describe the significance of the billionaire banker bailout. We wish Murray Rothbard was still here to paint a vivid picture for us.
- The Bailout of Abominations
As a rule, we may assume that any statute containing the word “emergency” in its title, preamble, or statement of purposes is a bad law. If you want an apt example, consider the Emergency Economic Stabilization Act of 2008, which the president signed into law on Friday, October 3, 2008, soon after its approval by the House of Representatives. Back in 1828, opponents of the tariff bill enacted in that year felt such outrage that they dubbed the law the Tariff of Abominations. With this precedent in mind, we might well refer to the bill just enacted as the Bailout of Abominations.
- It’s Not as Though Anyone Saw It Coming
Who’s to blame for the current meltdown of the financial sector, caused by the dependence of so many corporate balance sheets on defaulting home mortgages?
