“The financial crisis is not the crisis of capitalism. It is the crisis of a system that has distanced itself from the most fundamental values of capitalism, which betrayed the spirit of capitalism.” — French president Nicolas Sarkozy This from … Continue reading
John McCain is such a horrendous “defender” of capitalism that one can only conclude he sees no purpose in defending it. This is a man with absolutely NO systemic understanding of anything economic. As awful and as socialist as Obama … Continue reading
“Still, the bank bill with its huge bailout does suggest that the $29 billion bailout of the bondholders of Bear Stearns in March was a mistake. It seemed to have a moral-hazard effect by encouraging Lehman Brothers and other investment … Continue reading
Q: Dr. Hurd, isn’t the collapse of capitalism, as we know it, and the emergence of all-out socialism in the U.S., a failure of the free-market individualist moment? A: No. If unrestrained, unhampered capitalism and individual rights were ever given … Continue reading
A journalist wrote me the following: “I always say both Democrats and Republicans want to transfer wealth. Democrats want to take from the rich and give to the poor. Republicans want to take from the poor and give to the … Continue reading
So let me get all this straight. Letting an industry go bankrupt will have catastrophic consequences for every single person in society. It will be the end of our economy. Bankrupting the government by forcing taxpayers to subsidize $700 … Continue reading
I don’t understand why the lesson of the recent financial meltdown is that “we must return to regulation.” The regulatory infrastructure we have today has been in place since the 1930s New Deal — and before. This infrastructure was supposed … Continue reading
We’re being told by Joe Biden and Barack Obama that it’s our “patriotic duty” to pay taxes. Evaded in this statement are two things. One, how does an alleged patriotic duty to pay taxes justify a patriotic duty to pay … Continue reading
In the wake of the latest financial disaster, the government plans to “step in” and get things regulated. Hello? The government already did that–way back when the Federal Reserve was created (early 20th Century) and when the New Deal was … Continue reading
The headlines blare that 9/11 was “the day America changed.” But was it? Here, seven years later, America doesn’t seem changed. It does seem poised to elect as President an undistinguished man whose only accomplishment is his alleged celebrity–and whose … Continue reading
I am so sick of hearing people refer to America’s “oil addiction.” An “addiction” refers to the abuse of a harmful and dangerous substance. There’s nothing harmful and dangerous about oil. It’s quite literally the lifeblood of civilization. Most of … Continue reading
I keep hearing Republican politicians–most notably the presidential and vice-presidential candidates–talking about the need to “keep government small.” Excuse me? Do they think government as we know it is small? It’s HUGE. It controls most of the health care field; … Continue reading