Month: September 2011

The Myth of Infrastructure Spending

Austrian Economist Henry Hazlitt said that “[t]he bad economist sees only what the effect of a given policy has been or will be on one particular group; the good economist inquires also what the effect of the policy will be on all groups.” This could not be more relevant today.

Obama gave a jobs speech recently and spoke of building bridges as a way to help create jobs. One does not need to be an expert in Economics to see the problem with this way of thinking. Big government types just refuse to understand that it is impossible for the government to have a net positive effect on job creation by directly “creating” jobs. Continue reading

Is The Establishment Inadvertently Helping Ron Paul?

It seems obvious, at least to me, that the establishment needed someone else besides Ron Paul to be a Tea Party candidate, since they anticipated that Michele Bachmann was not going to last very long, and it would be dangerous for them to have Ron Paul be the only top-tier candidate considered to be anti-establishment.

Rick Perry is now talking about some of the issues that Ron Paul has been talking about for many years, except he has been using harsher language. He said Ben Bernanke was committing treason, and called Social Security a Ponzi scheme, which of course, it is. He even used the term military adventurism; all of this while being portrayed by the media as a serious threat to Mitt Romney. The establishment wants to make sure those voters that are looking for an anti-establishment candidate, find one in one of their guys. I had a hard time believing, during the last debate, that Rick Perry actually believed what he was saying, though. When pressed about calling Social Security a Ponzi scheme, he didn’t even defend his position, but instead kept repeating the same phrase, as if reading from a script. If you pressed me on this, I would start by informing you of what a Ponzi scheme is. That it is a Ponzi scheme is fairly easy to prove. Continue reading

A Joke of a Debate

I watched the Republican debate at the Reagan Presidential Library last night, and I have to say I haven’t felt this hopeless for our country in a long time.

Ron Paul, who is in third place in many polls got ignored most of the night, while Huntsman who is in the low single digits got plenty of airtime. The airtime that they did give Paul, they made sure he used to respond to philosophical questions that the average voter does not care to take even a few seconds to think about. Continue reading