The American Spectator : Bad Economists and Good Capitalists

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Bad Economists and Good Capitalists

By Ross Kaminsky on 11.2.11 @ 6:09AM

Obama and his minions notwithstanding, we’re again seeing the amazing resilience of American entrepreneurialism.

In the same essay that contains the famous “Broken Window” fallacy, French economist Frédéric Bastiat (1801-1850) cautioned us to consider “That which is seen, and that which is not seen.” His words should be required reading for any politician, elected official, or government bureaucrat:

In the department of economy, an act, a habit, an institution, a law, gives birth not only to an effect, but to a series of effects. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause — it is seen. The others unfold in succession — they are not seen: it is well for us, if they are foreseen. Between a good and a bad economist this constitutes the whole difference — the one takes account of the visible effect; the other takes account both of the effects which are seen, and also of those which it is necessary to foresee. Now this difference is enormous, for it almost always happens that when the immediate consequence is favorable, the ultimate consequences are fatal, and the converse. Hence it follows that the bad economist pursues a small present good, which will be followed by a great evil to come, while the true economist pursues a great good to come — at the risk of a small present evil.

Needless to say, those economists who advised Barack Obama on the $787 billion (before interest) “stimulus” plan, “cash for clunkers,” or his current raft of executive orders, as well as those like Robert Reich and Paul Krugman who prescribe more of the same snake oil, would fall into Bastiat’s “bad economist” category.

The public is wiser than these bad economists as shown in part by the fact that the two biggest months of decline in the nation’s unemployment rate in recent years occurred during November and December, 2010. This decline, 0.4 percent per month in back-to-back months, from 9.8 percent to a still-too-high nine percent unemployment rate followed directly upon Republicans taking control of the House of Representatives, blocking Barack “bad economist” Obama from ramming more of his anti-business agenda down the nation’s throat. You have to go back to 1998 to find even one month of a 0.4% improvement in the unemployment rate, back to 1983 to find a single month with a larger improvement than that, and all the way to 1958 to find a larger two-month drop in unemployment.

Unemployment has ticked up very slightly from there — after all, stopping bad policies is not the same as implementing good ones — holding at 9.1 percent for the last three months, with October’s data due this Friday (November 4) and a preview in the private ADP employment data on Wednesday. While unemployment is perhaps politically the most important economic statistic, it’s certainly not the only one.

And most of the economic data in recent weeks has been fairly positive, at least positive compared to what we’ve been used to for the past three years. Consumer sentiment and spending are rebounding following August’s stock market collapse (and the October sentiment data was collected before much of the recent market rally).

The most recent Gross Domestic Product (GDP) report — for the third quarter, reported last Thursday — came in at 2.5 percent year-over-year growth which, while nothing to write home about, was double the growth reported in the prior quarter. Furthermore, the “component mix” of the report was better than expected, with the result having been reduced by a greater than one percent decline in business inventories, implying more need for production in coming quarters. As good (if congenitally optimistic) economist Brian Wesbury wrote, “Business investment grew at a 16.3% rate in Q3, the fastest pace so far this year. In other words, consumer and business spending is growing much faster than those who watch consumer and business confidence data think it will, or should.”

The October stock rally, despite a strong sell-off on Halloween day, left the Dow Jones Industrial Average with its third largest monthly percentage gain ever. While the gains were pushed along in large measure by hopes that Europe would find a way to deal with Greece’s debt without causing the entire Euro currency structure to collapse, there’s also a growing sense that America has dodged the dreaded “double-dip recession.” (On Tuesday, the first day of November, the stock market plunged on news that the “done deal” with Greece may not be so done after all. It remains to be seen whether Greece can even remain in the Euro currency over the long term.)

To be sure, as Keith Diamond of Prudent Man Investment Management noted to me, “the market and the economy are not the same thing,” and there can be a substantial disconnect between stock prices and employment when corporate profits are boosted through productivity gains — often generated by firing people. As Diamond put it, “Corporations do not have a responsibility to employ people. They have a responsibility to be profitable.” This is the real world that the Occupyers are so furiously clicking their heels together to escape.

But, to be more precise, it is the “large cap” world of companies with many employees that can increase productivity this way, and it is large companies that make up the major stock market averages. Small businesses on the other hand have fewer ways to grow without hiring people, explaining why more than 100 percent of net job growth during almost any period of modern American history comes from small business — that’s where true capitalism is. No bailouts, no friends in high places, no lobbyists. Just commitment and hard work guiding the invisible hand that increases the quality of life for all. The bailouts and stimulus are seen, even Solyndra is seen, but what is unseen today — not least because the media has no interest in reporting on or even understanding what really drives the American economy — is the resilience of American entrepreneurialism.

Again, none of the recent economic data would be remarkable in normal times, or perhaps it would be remarkable for its relative weakness during a point in an economic cycle that should be defined by rapid economic recovery. (More here.)

But these are not normal times, and the data is therefore remarkable for a different reason: the fact that we are growing at all, that there is anything other than outright pessimism among our companies and citizens, is a testament to the American entrepreneurial spirit — and perhaps the best counter-argument to the Occupy Wall Street movement’s uninformed hatred of all things capitalist.

It’s as if America’s businessmen took on — before our Bad-Economist-In-Chief’s spinmeisters conceived the phrase, and without His self-glorifying fanfare — a “we can’t wait” attitude toward building and running their businesses. Obama says “we can’t wait” for Republicans to enact his policies; businessmen say we can’t wait for government, period.

America’s entrepreneurs are like triathletes swimming against an unexpectedly heavy current, going a few hundred yards in the time it would normally take to swim a mile — a few hundred yards that the average person would not even attempt to cover. That current — a relentless, mindless force opposing their every move — is the “bad economist” administration we suffer under now.

Informed by a “spread the wealth around” mentality, willing (or more precisely eager) to pass some of the most significant legislation in the nation’s history without first allowing members of Congress to read it, supportive of anti-capitalists (and anti-Semites) from Zuccotti Park to Zapatero, and in a regulation-promulgating frenzy, Obama’s minions are creating an anti-business current against which only the strongest could hope to make the slightest progress.

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About the Author

Ross Kaminsky is a self-employed trader and investor and is a senior fellow of the Heartland Institute. He is the host of The Ross Kaminsky Show on Denver’s NewsRadio 850 KOA at 11 AM on most Sundays. You can reach Ross by e-mail at rossputin(at)rossputin(dot)com.

Letter to the Editor View all comments (152) | Leave a comment Leave a comment

Shamus| 11.2.11 @ 6:52AM

This is a setback in Obama's War on Prosperity.

Jack in Wi| 11.2.11 @ 7:54AM

The Federal Reserve is printing trillions as we speak, for yet another bailout of the European banks. The stock market has been puffed for years by the Federal reserve to bailout the the banks and insurance companies. The country is fighting wars all over the world that have cost us 4 or 5 trillion dollars. We have a trillion and half dolar hole in the budget as long the eye can see. Yet we keep thinking that present policies can go on forever. The only candidate for President who has a plan to do something about it is Ron Paul. He has been right on the problems and has seen them coming for decades. It is Ron Paul for President and Rand Paul for Vice President or ruin. Anything else is more of the same, more TARP, more bailouts of the rich, more taxes on the Middle Class, more wars, more abortions, more rule of the economy by the Federal Reserve, and more social collapse.

Doctor Right| 11.2.11 @ 9:44AM

It is Herman Cain or Collapse.

Doctor Right| 11.2.11 @ 9:46AM

It is Rick Perry or a ravaged nation.

Doctor Right| 11.2.11 @ 9:47AM

It's Newt Gingrich or Nothing.

Doctor Right| 11.2.11 @ 9:47AM

It's Michelle Bachman or massacre.

Doctor Right| 11.2.11 @ 9:47AM

It's Santorum or insanity.

Doctor Right| 11.2.11 @ 5:33PM

It's Santorum or the sanatorium.

Doctor Right| 11.2.11 @ 9:48AM

It's Huntsman or Hell.

Doctor Right| 11.2.11 @ 9:48AM

It's Romney or...sigh...I just can't do it.

Doctor Right| 11.2.11 @ 9:49AM

It's Cain, Perry, Gingrich, Bachman, Santorum, Huntsman, or...

...the anti-Semite's favorite blame-America candidate, Ron Paul.

Clint| 11.2.11 @ 1:56PM

Uh Oh !

American Spectator's Resident Joisey White Trash Bigot Twin, Dr.Reich Attempts To Play The Anti-Semite Card.

This Is The Big Yellow Bus Callin' The Canary Yellow.

Doctor Right| 11.2.11 @ 3:52PM

This Is Doctor Right Callin' Clint A Moron.

Clint| 11.2.11 @ 4:10PM

Dr.Reich Is The Bloviatin' Pseudo-Intellect Elitist Wannabe Joisey White Trash Bigot Punk.

Doctor Right| 11.2.11 @ 4:25PM

Projecting, Clint?

Ain't nuthin' "pseudo" about it if you can pull it off on a regular basis. And I can.

You can't.

Mal_Content| 11.2.11 @ 4:51PM

You two should get a room.

Doctor Right| 11.2.11 @ 4:57PM

Clint's not my type.

I don't do the angry, repressed, self-loathing, need a father-figure-type thing...

Mal_Content| 11.2.11 @ 5:06PM

You both fill this board with spam trying to get the last word.

Just ignore him.

Clint| 11.2.11 @ 5:24PM

Dr.Reich Does The Joisey White Trash Bigot Wannabe An Intellect Thing.

Clint| 11.2.11 @ 5:22PM

The Only Thing You Pull Are Others' Meat Poles.

Redstateboy| 11.2.11 @ 2:54PM

LOL!! Doctor.. I think secretly you live to come on TAS and fire a broadside at Clint.. and I laughed when you came to Romney.

d clowes| 11.2.11 @ 6:59AM

while i agree with you that the policies are bad, your argument that any rise is despite these policies is suspiciously like the administration's argument that things would have been worse without (stimulus, et al).

DTOM| 11.2.11 @ 8:23AM

d clowes:

You agree that the policies are bad.

The bad policies are in fact in place.

If there is a "rise" in economic indicators which actually reflects a real increase in activity, the 'rise' necessarily occurred "despite these policies,"

dc, your argument that it's akin to the Obama claim that things would have been worse absent "stimulus, et al." holds not a drop of water, no matter how faint-heartedly you make it.

HEY Ross!

Was Bastiat also referring to "opportunity cost" in his unforeseen results? These are quite often overlooked in financial decisions and they are not only not foreseen, but almost always unseen even after the fact. 20-20 hindsight still usually misses them.

Obama seems to have discovered opportunity costs as new "cost" of not following his socialistic, anti-competitive policies. Unfortunately, it seems this new cost will be thrown at us every time the liberals don't get what they want. They don't often come up with new arguments.

Also have you heard the term "regime uncertainty?" Methinks it applies to the effects of unfavorable policies on business decision makers that you described. Giving that effect a name would make it easier for people to talk about it, which would be a good thing.

Look here: http://www.independent.org/pdf....._higgs.pdf

Ross Kaminsky | 11.2.11 @ 10:58AM

Hey DTOM,

Bastiat was not really focusing on opportunity costs, though he obviously understood them. Instead he was focusing on the actual tangible results of policies, but those which occurred after the usually (but not for Obama) more predictable short-run impacts.

By the way, one of the best political economy essays ever is "The Law" by Bastiat. If you shoot me an e-mail at rossputin(at)rossputin(dot)com with your mailing address, I'll send you one. I buy 100 each year to give away.

Haven't heard "regime uncertainty". What's interesting right now is that part of the problem is certainty rather than uncertainty -- certainty that this administration will attack success.

Higgs is one of the very best.

DTOM| 11.2.11 @ 11:19AM

One can be certain about uncertainty can't one? As in 'Boy, it sure is uncertain out here!'

Thanks.

dw| 11.2.11 @ 8:12PM

For the socialist it is the "cost of opportunity". See Lizbeth Warren, prospective future member of the Comintern. For her it was the poor through donations to the government that made it possible for the wealthy to create their wealth. For it was with both their money and their toil that roads were developed so capitalist could get their goods to market.

martin j smith| 11.2.11 @ 7:04AM

Let me put it this way. If Obama wins re-election we are doomed. If Romnney is the nominee we will be doomed because if he loses, Obama wins and if he wins he will play ball with the Socialists and we will be doomed. So better support someone who will be more business friendly and less likely to cave to Socialism. Cain could be the one but then again you have to fight against the sheer crap from the MSM against him. Oh oh yes any of the others excluding Ron Paul and John Huntsman may also be good but be careful of what you ask for fopr if you ask for a "moderate" or a RINO you will get Socialism gaureneteed and that is bad for business and the economy.

oldfart| 11.2.11 @ 7:44AM

I'm with you Martin. Romney is another McCain - I flat don't trust him. We need the person whose actions speak so loudly you can't hear a word they are saying - not the other way around.

DTOM| 11.2.11 @ 8:50AM

You have to ask yourself two questions:

1. Would Romney sign an ObamaCare repeal bill on his desk in the face of the hair-mussing media firestorm that would surely accompany it?

2. If John McCain had won, would he have signed ObamaCare into law?

I got two "ayes" over here.

oldfart| 11.2.11 @ 9:31AM

#1 - nope - Romney doesn't have the 'lobes'
# 2- Yes - McCain has no 'lobes' either.

Clint| 11.2.11 @ 9:31AM

The RINO-CINO'S Gave Us The Serial Traitor To Conservatism, John McCain Of McCain-Feingold, McCain-Kennedy,McCain-Lieberman,Gang Of 14, Opposing Bush Tax Cuts Of 2001 & 2003,TARP.

Now They Are Trying To Give Us RomneyCare,TARP, Cynical Flip-Flops On Abortion, Gays, Refuses to Sign Pro-Life Pledge, Illegal Immigrants, "Little Chain Saw Al" At Bain, Crony Capitalism Campaign Money Trail.....

The Tea Party Rebellion Is Here.

W.T. Foxtrot| 11.2.11 @ 9:51AM

Clint's Parents Gave Us Clint...We Think...

The "No Mo' Clint" Rebellion Is Here.

DTOM| 11.2.11 @ 9:54AM

Are you saying his mom's not sure if he's hers?

W.T. Foxtrot| 11.2.11 @ 10:05AM

I'm sayin' she's not exactly thrilled 'bout admittin' it...

Clint| 11.2.11 @ 2:10PM

We Are Being Set Up By These RINO-CINO Flunkie Stooges For The Ruling Elites' Frontman Mittens Romney.

These Are The RINO-CINO Flunkie Stooges Who Gave Us The Serial Traitor To Conservatism, John McCain Of McCain-Feingold, McCain-Kennedy,McCain-Lieberman,Gang Of 14, Opposing Bush Tax Cuts Of 2001 & 2003,TARP.

The Tea Party Rebellion Is Here.

W.T. Foxtrot| 11.2.11 @ 3:54PM

...WTF?!?!

Seriously...could you be anymore...is there a word for it??

Clint| 11.2.11 @ 4:13PM

Seriously, You're An Asshat FuxTrot.

W.T. Foxtrot| 11.2.11 @ 4:27PM

That's funny!

Because according to your Boss, you're an "Agent of A.S.S.H.A.T."!!

LOL!!!

Clint| 11.2.11 @ 5:27PM

That's Funny !

According To Your Old Lady, The Viagra Ain't Workin'.

Ross Kaminsky | 11.2.11 @ 10:59AM

Romney will absolutely sign Obamacare repeal because if he didn't he would immediately become a lame duck. Doubt McCain would have signed ObamaCare but he would have signed cap-and-trade which would have been even worse -- as hard as "even worse" is to imagine.

DTOM| 11.2.11 @ 11:17AM

Lame duck status does not prevent one from issuing all manner of executive orders. And the alienation from the right half of the country will force him deeper into moderate/Democrat cooperation. Mitt needs MSM approval. America can't survive much more of that.

Ross Kaminsky | 11.2.11 @ 2:57PM

I don't see it that way. I think a Tea Party congress will keep Mitt in line.

idalily| 11.2.11 @ 4:17PM

I think so, too. But ONLY if we get a Tea Party Congress and they keeps up the pressure. That's why I'll fight tooth and nail for another candidate in the primary, but if I have to, I will vote for Romney in the general and worry about keeping him on a conservative path afterward. Obama MUST be defeated or our nation is toast.

dw| 11.2.11 @ 8:20PM

Mitt has already shown an affinity to blow with the wind. Therefore a tea party dominated congress should keep him in line.

Also, he will want a second term so conservatives maintaining pressure on him to continue the re righting of the ship of state will also keep him steady. He knows that the creation of jobs through conservative policy will go a long way towards securing a second term.

ABO

Gary B| 11.2.11 @ 8:37AM

Yup... simple test:

1. Who do you like?
2. Who do you trust?
3. Who can do the job?

R Martin| 11.2.11 @ 7:51AM

It is not just bad economists who fail to consider the unforeseen. Bad politicians are far more guilty of that shortcoming and, unfortunately, we many more bad politicians than bad economists.

oldfart| 11.2.11 @ 7:57AM

The two together crate the perfect storm of economic destruction.

Mimi| 11.2.11 @ 8:11AM

We had a Pelosi with no analytical MIND....And buildings full of incompetent democratic control freaks & with leftist -bent stupidity and immaturity...who wrote all the BAD BILLS and a LAZY president who passed out all the WORK to others.

DTOM| 11.2.11 @ 8:27AM

Mimi,

One small point: It's not "we had.." It's "we have..."

If it were "we had", it would have ended, it has not stopped. Boehner and the GOP elites are only paying lip service to ending the bad bills. Seen any real cuts after the debt ceiling battle?

Mimi| 11.2.11 @ 5:42PM

DTOM....Gotcha ! I guess 2010 didn't impress them enough....I wonder if we impress them with their loss of the next election ...they will then "GET IT".....BOYS..Again, once MORE...STOP THE SPENDING ! Put blinders on if you have to...DO what is RIGHT by us the PEOPLE!

Ross Kaminsky | 11.2.11 @ 11:00AM

That's true, and I implied as much in my article when I called Obama a bad economist.

W.T. Foxtrot| 11.2.11 @ 11:39AM

Obama is NOT a "bad economist".

That would imply that he has some economic acumen.

Obama is economically illiterate.

John Maynard Keynes was a BAD economist, since his theories have been completely discredited.

Michael Tomlinson| 11.2.11 @ 8:16AM

The term “crony capitalism” has been used to chip away at Rick Perry, but he is the only candidate running for the nomination that has a record of supporting business and pursuing legislation friendly to business. His commitment to free enterprise, entrepreneurial freedom and restraining government interference contrasts with his counterparts who either have records showing friendliness to government or no record of legislative or executive experience.

The current leaders for the GOP nomination talk a good talk, but there is absolutely no evidence they can actually walk the walk of providing the leadership to encourage and nurture a growing economy regardless of their personal business experience (Perry has a proven record of doing this successfully in Texas). Success in business is not a harbinger of success in government leadership or even wisdom (look at all the successful business executives who are Democrats and supporters of Obama). We need an experienced political leader who is ready and willing to be the next Calvin Coolidge.

Michael Tomlinson| 11.2.11 @ 8:16AM

DTOM| 11.2.11 @ 8:35AM

Michael,

If I disagree with you, will you say to me "you have no heart?"

Any government action towards illegal immigrants that is not a direct, obvious penalty promotes illegal immigration and lawlessness.

Some businesses have taken advantage of illegals as a source of cheap labor. Shame on them, they hurt themselves in the long run in two ways: artificially low labor costs inhibit the development of more efficient, productive processes rendering those businesses less competitive in the long run; and they deny work to legal citizens reducing demand for the business's own offerings.

Mr. Perry's hair is pro-business, but not necessarily so pro-citizen, to my eye.

Ross Kaminsky | 11.2.11 @ 11:00AM

Perry's principles are mostly fine but he's simply not smart enough to be President of the United States nor smart enough to debate Barack Obama.

Doctor Right| 11.2.11 @ 11:47AM

Yeah, we heard all that about Bush in 2000.

Perry is not unintelligent; he's merely not a great debater.

So what?

He's the very successful Governor of a VERY successful state, and he's been doing it for 11 years.

He's FAR more qualified to be President than Obama, even after 3 years of Obama in the WH.

Debating skills are waaaaay over-rated. The ability to be glib and fire clever one-liners in phony, made-for-TV debate formats does NOT necessarily translate into executive success.

Let's see Perry debate Obama in a REAL debate of actual substance, one done according to classic rules of debate, as opposed to a popularity contest dominated by the moderator's need to stir-up trouble or ask "Gotcha!" questions. I'm willing to bet that Perry would do a lot better than Obama.

Obama's intelligence and debating skills are exaggerated to the point of comedy. The man is a walking stumble-bum who can't speak without the assistance of his teleprompter. He's an idiot, frankly, and I honestly believe that with minimal preparation, most of the people on this forum could beat him in an honest debate.

Yet Conservatives and Republicans cower in fear of his supposed skills. WHY???? Pepper him with real questions that force him to defend his actual record and he'll self-destruct on national TV.

But Perry is "not smart enough to be President"??

Please...get real.

Clint| 11.2.11 @ 2:13PM

You're The RINO-CINO Flunkie Stooge,Who Said That He Will Vote For Mittens Romney,Dr.Reich.

Doctor Right| 11.2.11 @ 3:57PM

You do realize that NOBODY on this board takes you seriously, right??

It's just not possible.

Clint| 11.2.11 @ 4:16PM

You do realize that American Spectator Readers Know That You Are Half Of The Resident Joisey White Trash Bigot Twins.

Doctor Right| 11.2.11 @ 4:28PM

...zzzzzZZZZZZZzzzzzz....

BO-RING...

Clint| 11.2.11 @ 5:28PM

Dr.Reich Is The Chairman Of The Bores.

Zzzzzzzzzzzz !

POST American| 11.2.11 @ 8:20AM

"Understand, whenever you hear of
people getting advanced degrees in
something which is, at heart, nothing
but simple mathematics (ie genuine
economics) --you KNOW there's a CON on.
Fact is, there's NO reason on earth why
ANY country should be borrowing ANY
money from anyone ----least of all the
U.S.. The whole thing's a CON pure and
simple. See thru the FAKE money CON
---and you've seen through absolutely
ALLLLL of it."
-ALAN WATT
(devestating coverage online)

----Just a little REALITY CHECK in this,
the 11th hour of the Globalist RED China
sellout and, now, ---WORLD-- TREASON OP.

DTOM| 11.2.11 @ 8:37AM

Dude!

I get you on that one, mostly. But I would counter that under-developed countries should be borrowing from developed countries, and then paying the loans back. Developed countries should have savings available to lend, not be borrowing to pacify greedy government agents and employees.

Right on!

Clint| 11.2.11 @ 8:22AM

Bastiat influenced Austrian School Economics.

Austrian School Economics Trumps Obama's Failed Keynesianism.

The Tea Party Rebellion Is Here.

Gary B| 11.2.11 @ 8:38AM

I sure hope so...

DTOM| 11.2.11 @ 8:41AM

Clint;

Today Post American is making more sense than you are.

Anybody agree with me?

Clint| 11.2.11 @ 8:49AM

You're An Economic Buffoon, DTOM.

Read Bastiat, Hayek & von Mises & Learn Some Real Free Market Economics.

The Tea Party Rebellion Is Here.

Doctor Right| 11.2.11 @ 9:52AM

Why should he read them?

You NEVER have; you're merely parroting what it says on some "I HEART Ron Paul" website.

Clint| 11.2.11 @ 2:05PM

You're A Serial Slandering Liar,Joisey White Trash RINO-CINO Israel Firster PropagandaBoy , Dr.Reich.

I've Have Read The Works of Bastiat, Hayek & von Mises .

Dr.Ron Paul is also well read in Austrian School Economics.

Got A Problem With Austrian School Economics,RINO-CINO Israel Firster PropagandaBoy,Dr.Reich ?

Hmmmmmmmm ?

The Tea Party Rebellion Is Here.

Doctor Right| 11.2.11 @ 4:01PM

"Got A Problem With Austrian School Economics,RINO-CINO Israel Firster PropagandaBoy,Dr.Reich ?"

I envision you scowling and wiping your nose with your forearm when you say that...it's kind of funny.

But to answer your question, no, I have no problem with "Austrian School Economics"...

But I laugh-out-loud at poseurs who have no idea what "Austrian School Economics" actually are, but like to say it 'cuz it sounds all innalekshul 'n stuff...

Sorry, I don't believe you.

Based on the sum total of the nonsensical drivel in your posts, I don't think you've read anything more substantial than a cereal box in quite some time.

Clint| 11.2.11 @ 4:30PM

I Believe You Are A Pseudo-Intellect Elitist Wannabe Bloviator, Dr.Reich

So Tell Us All About Credit Cycles & Business Cycles.

You're Up Dr.Reich

Doctor Right| 11.2.11 @ 5:04PM

No, no...why don't YOU tell us about it, Professor Von Clint???

Go ahead. Educate us!

[Sound Effects]
Loud, repetitive keyboard clacking as Clint furiously googles "Austrian Economic School"...and lands on a hardcore, German-language Bi-S&M site.

"Ooh!", Clint says...and forgets all about Doctor Right's challenge.

[Scene]
We see the hour hand of a clock going round and round and round as Clint pours through the S&M site...

[Scene change]
The pages of a calender fly by...Clint sits at his desk, entranced by the Bi-S&M site (in German!).

[Scene change]
Leaves turn brown and fall off of the trees...seasons change...Obama is defeated, emigrates to Kenya, becomes a Muslim...Ron Paul dies in Austria...

[Scene change]
Clint, now old, his clothes rotted and stuck to his pasty, flabby flesh, still sits. looking at the German;language Bi-S&M site...

...He dies at his desk.

FADE TO BLACK.

Clint| 11.2.11 @ 5:33PM

Apparently, The Joisey Pseudo-Intellect Elitist Wannabe Can't Handle The Question.

Hint: Bubbles

Merlin| 11.3.11 @ 6:29AM

SCROLLING PAST

Drunken Sailor| 11.2.11 @ 4:41PM

"I've Have Read The Works of Bastiat, Hayek & von Mises "

Amazing. I didn't realize they came in a "Pop Up" version

Doctor Right| 11.2.11 @ 4:59PM

LO-freakin'-L!!!!

Clint| 11.2.11 @ 5:37PM

Apparently, The Drunk Can't Handle Austrian School Economics.

The Union Bartender Must Be A Keynesian.

Pecos Pete| 11.2.11 @ 8:24AM

Rule #1: The Law of Unintended Consequences always applies to every decision made by humans.

Rule #2. See Rule #1.

Ross Kaminsky | 11.2.11 @ 11:01AM

Rule #3: When it comes to the left, many "unintended consequences" were actually intended.

Gary B| 11.2.11 @ 1:04PM

Exactly!

Clint| 11.2.11 @ 2:14PM

Agreed, The Left Are Big Government Statists.

Doctor Right| 11.2.11 @ 4:02PM

Did you read that in an "Austrian School Economics" textbook?

Clint| 11.2.11 @ 4:37PM

Try Reading The Theory Of Money And Credit & The Road To Serfdom & Get Back To Us. Pseudo-Intellect Elitist Wannabe Bloviator, Dr.Reich.

Doctor Right| 11.2.11 @ 5:06PM

Try reading.

Clint| 11.2.11 @ 5:39PM

Try Learning.

Ross Kaminsky | 11.2.11 @ 10:16PM

Try Bastiat!

Louis Jenkins| 11.2.11 @ 8:39AM

So what is Kaminsky saying? We are seeing an upswing of the economy even though Obama is president? Obama can just as easily say the upswing is due to his policies. Folks, once the moaning and bickering over Greece and Europe is finished, and badly I might add, the focus will be on the rotten financial state of the USA. The only way we can continue down the road of "greatness" is to borrow. Borrow from anyone foolish enough to loan the US money. And print it too. I do not foresee the bed of roses that many are touting. Get ready America, for this nation will not slowly descend into bankruptcy. It will be a sudden, panic driven downfall.

DTOM| 11.2.11 @ 8:45AM

The upswing is going to be short lived. A lot of the market volatility is due to machine trades. Machines that don't read that the Greek thing is not over, by a long stretch.

Michael Tomlinson| 11.2.11 @ 8:47AM

DTOM:
As far as the hiring of cheap illegal immigrants I think Herman Cain and the National Restaurant Association are the pathfinders on that front.

DTOM| 11.2.11 @ 10:32AM

Michael:

You make a good point; but weren't the real pathfinders, the first to heavily use illegal workers the California cash crop farmers raising lettuce, grapes, and such?

As head of the NRA, Herman Cain could have had one of a number of positions on the restaurant industry's use of illegal workers.

Maybe he was for it, against it, unaware of it, or stayed away from it?

The NRA website has reference to a single immigrants on their site-it details their participation in a inter-industry meeting of industries relying on immigrants.

Just because some, (a few?, many?, most?, all? who knows?) members of an industry association break laws, does not imply that their Washington DC-based national organization's leader is going to be supportive of that law-breaking. I imagine, to the contrary I would imagine that they would be publicly negative on that behavior. So what does that say about Herman Cain?

Not much, in my book.

A better question: what was Godfather's Pizza record on illegal immigrant employment? Did they do it? I couldn't find any reports that they did; maybe you can research that one...

Merlin| 11.3.11 @ 6:41AM

I confess to hiring illegals for orchard work. All had documentation. Twenty years or so ago, my secretary got mad at one of our workers and sent his name and SS number to the SS office in Spokane to see if he was legal. The reply that eventually came was that the name and ss number did not appear to match but in the future we should ask permission of the employee to verify his status. What does this tell you? What it told us was that the Government, for all the posturing of politicians, did not care.

Currently, apple harvest is almost finished, but there has been a shortage of workers. Unemployment at 9.1% and none of the unemployed are willing to pick apples? What is wrong here?

PJ| 11.2.11 @ 8:55AM

I really don't know if the economy is as resilient as Ross says. Many of the economic data esp the unemployment one has been redefined a few times since the Great Depression. If the unemployment rate of today was calculated using the same definition that was used in the 1930s, I bet they would be very similar.

DTOM| 11.2.11 @ 10:42AM

They do. Search for "U6 unemployment" and you should find that the rate is around 17% right now. Voila!

And the economy will rebound once we can get over regime uncertainty.

Look here: http://www.independent.org/pdf....._higgs.pdf

Clint| 11.2.11 @ 2:21PM

Octobers U-3 & U-6 Numbers Aren't Out Yet.

The September U-6 Unemployment Number Was 16.5 Percent. Up .3 Percent.

POST American| 11.2.11 @ 9:18AM

"--NO reason on earth why ANY
country should be borrowing its money."

And, were that reality, whither the
INTER-nationalists and ALLLL their
invasive, interloping, usurping, standardizing
(ie cultural annihilation) ---and EUGENICS
age-endas?

They would have NO foot hold.

USURY, or to be specific, the psychopathic
CON of unchecked, unaccountable,
blatantly treasonous, fractional reserve
lending would have NO host to feed on.

The 'world gover-ants' OP would be an
impossibility -----and SO much of the appalling
CON-flict and genocide of last century
would simply NOT have occurred.

Needless to add, inbred and set up frauds
such as the Darwins, Huxleys, Markses,
Lenins, Stalins, Hitlers and Maos-
---would have had NO sponsors.

Kdellinger| 11.2.11 @ 10:04AM

you believe the 2.5% GDP! I sure don't.

oldfart| 11.2.11 @ 10:34AM

Hey and unemployment is only 9.something %. LOL

Lyneuss Fields | 11.2.11 @ 10:47AM

Look, clearly both political parties (starting with the Clinton Administration) are responsible for the financial collapse. Now the mantra from the right is no taxes for the rich or regulation of these financial institutions. Can you all really be serious about this non-sense? http://lyneussfields.blogspot......ative.html

oldfart| 11.2.11 @ 10:54AM

Nope - the next year will be full of 'interesting' situations. Not sure either party 'gets it'.

DTOM| 11.2.11 @ 11:05AM

Went there. "What we need is a hybrid of capitalism and collaboration."

I'm pretty sure it means you work, hard, make profits and then give them to me and my friends.

Nobody bothered to respond. Me either.

Thanks for nothing Linus.

And no it's not CLEARLY both parties. It's Clinton and ACORN and the stupid concept that everyone, no matter how credit unworthy they might be, was credit worthy. Thank Barney Frank and his little pets, Fannie Mae and Freddie Mac. This was a Democrat intiative invented by Democrats, operated by Democrats, funded by Democrat legislation, base-line budgeted into horrific amounts of taxpayer dollars.

I will give you that the Republicans under Bush did nothing to stop this - they could have, should have, but didn't. The Dems acted and the Republicans failed to act. I hold the former is a more heinous act than the latter.

Lyneuss Fields | 11.3.11 @ 1:47PM

If you're saying that both Republicans and Democrats are bad for people like you and me, I agree. http://lyneussfields.blogspot......ative.html

martin j smith| 11.2.11 @ 10:54AM

To the above poster: This is why i do not trust Establishment republicans or the Socialists at all. So I would prefer an " outsider. Thank you very much. Cain could be such as person.

Ross: This to you. If the Mainline Republicans are serious about this election so far they are not showing it. Voters are voting for Republicans they are voting against Socialism. The Republican brand does not exude confidence--I hope you realize that and perhaps tell those who should be aware but have their head in the sand. Or, are they in the fix ?

Ross Kaminsky | 11.2.11 @ 11:06AM

Martin,

I agree with you. But here's something to keep in mind: most people don't think about politics as early or often in an election season as you and I.

Part of the GOP thinking, and I haven't yet decided my view on this though I'm inclined this way at the moment, is that beating Obama is the most important thing. That's why Romney has this apparent staying power that he wouldn't have had in any other cycle -- people perceive him as electable.

I sent a message to Romney's people two days ago and I know it was received. Here's what I said:

--------

I don't think I've seen George Will ever shred a Republican candidate as he just did to Romney.

And I'm inclined to agree with him.

As I said on my radio show last night, I don't understand what makes Romney think that side-stepping good policy is somehow good politics. I think good policy and good politics are more or less the same these days.

If Romney doesn't get some principle very very soon, I'm not going to support him, and will instead focus efforts on House, Senate, and local races. And lots of people will do the same...which would be fairly bad for the GOP next November, essentially conceding no "coat tails" from the presidential candidate.

He took one good step last week -- though it seemed like it pained him to do so -- when he finally said he doesn't know what causes climate change.

-------

I hope they listen. In the meantime, I'm really struggling with whether I would prefer to support Romney if I think he's quite likely to beat Obama or a more principled candidate who I think is 50/50 against Obama. My inclination is Romney even though I don't feel great about it.

DTOM| 11.2.11 @ 11:15AM

Ross,

How much success did we have convincing G W Bush to act truly conservative? Just because Mr. Romney says he'll be real conservative, you must admit, than when the MSM spins up to full blast, the skin-deep conservatives, the payers of lip service really do not stand up to the pressure, John Boehner.

Romney won't even step back from Romneycare, even in the middle of a Republican primary fight. He took two days to express support for the Ohio anti-government union votes, after visiting a call center working for that very thing. Sorry Ross, Romney has dipped his moderate kiester in a big tub of Conservative ink - but it'll wash off fifteen minutes after he's sworn in.

Think about it:

"Let's pass a law that you hafta buy private health insurance, do it for the children!?"

"Global warming is real!? Cap and trade will help!?"

Please, Ross, wake up!

Ross Kaminsky | 11.2.11 @ 2:59PM

The difference in Congress between now and during the Bush administration will make a massive difference even if Romney is also a RINO.

And for the record, I'm not endorsing Romney (or anyone else) at this time.

Merlin| 11.3.11 @ 6:57AM

The problem with Romney and any other RINO is that if he is elected, he will go along with liberal policies, but try to do it on a smaller budget. Then the voter, with some justice, thinks there is no difference between the Democrats and the Republicans, making it harder for the good economists (conservatives) to get elected.

I know it could be really bad in the short term, but I would almost rather lose with a conservative, that win with a RINO, so that the distinction between conservative policy and socialism is not blurred.

Doctor Right| 11.2.11 @ 11:59AM

Beating Obama IS the most important thing in next year's election.

If the disparate groups in the Republican Party - the Paulies, the Cainiacs, the social-conservatives, the moderates, etc - could put aside their differences for one election cycle and acknowledge that reality, there's NO WAY Obama wins re-election.

We cannot hope for our ideal of "the perfect candidate" because it never, ever happens, even when the stakes aren't this high.

But they are. This is possibly the most critical election since 1860. Our nation's future hinges on whether we will be a Constitutional Republic, or a Euro-style welfare state. The latter will lead to our economic collapse, it's really THAT simple.

To that end, I will support WHOEVER the GOP candidate is - Cain, Perry, Romney, Bachman, Santorum, Gingrich, Huntsman, or Ron Paul - because I have NO DOUBT that any of these people would be 1,000% better than Obama, and could instantly set the ship-of-state going in the right direction.

I refuse to make a phony stand for "principle" if my preferred candidate does NOT gain the nomination.

Do I want Romney?

Hell no! But to equate Romney with Obama, even with the spectre of RomneyCare lurking in the background is intellectually dumb.

Barack Obama is trying to "transform" America into something that it isn't, and that most Americans don't want. ALL of the GOP candidates would stop that.

Yes, some GOP candidates would do better jobs of reversing it, some are stronger on Constitutional principles...but with a GOP-controlled House and Senate, even the most left-leaning GOP candidate is not likely to veto a repeal of ObamaCare, a reform of the tax code, an end to "climate change" legislation, and a draconian but much-needed slashing of the Federal budget. Ain't gonna' happen.

So I appeal to all of the people on this forum to AT LEAST put aside our differences on election day in 2012 and support the GOP's candidate.

To paraphrase Jack, it is "Get rid of Obama, or ruin".

THAT'S THE TASK.

Clint| 11.2.11 @ 2:27PM

You're A RINO-CINO Flunkie Stooge, Dr.Reich.

We Are Being Set Up By RINO-CINO Flunkie Stooges For The Ruling Elites' Frontman Mittens Romney.

The Tea Party Rebellion Is Here.

Doctor Right| 11.2.11 @ 4:06PM

That's it?

That's ALL you have to say? Another Robo-Post of strung-together insults that were dumb enough individually, but are absolutely moronic in a run-on sentence??

You're a joke. A total joke.

You add NOTHING to this forum. ZEE-RO.

Buzz off, little boy. Leave the thinking to others.

Clint| 11.2.11 @ 4:43PM

You're The Joke Here At American Spectator, Joisey White Trash BigotBoy, Dr.Reich.

You're The RINO-CINO Flunkie Stooge,Who Said He Will Vote For The Ruling Elites' Frontman, Mittens Romney.

Doctor Right| 11.2.11 @ 5:09PM

...zzzzZZZZZZZzzzzzz.....

Clint| 11.2.11 @ 5:16PM

Zzzzzzzzzzzzoooorrrooooooo !

Drunken Sailor| 11.2.11 @ 4:45PM

DR,

I think I have figured it out. Clint is one of those guys that can't let go of his high school glory days. He thinks that sports style trash talking is a form of debate. Sports fanatic + Peter Pan syndrome = Clint.

Doctor Right| 11.2.11 @ 5:07PM

The flaw in your theory is the idea that Clint actually HAD "glory days" in high school...

Peter Pan?

More like Wendy...

Clint| 11.2.11 @ 5:20PM

Dr. Reich, The Peter Puller.

More Like Pee wee Herman.

Clint| 11.2.11 @ 5:14PM

Uh Oh !

The Drunk's Been Listenin' To Springsteen Songs, In The Saloon Again.

Dick Nome| 11.2.11 @ 6:35PM

(__!__)

Ross Kaminsky | 11.2.11 @ 10:18PM

Boy do I wish you two would leave your 8th grade insults off this page...

W| 11.2.11 @ 3:47PM

I agree. The first order of business is to defeat Obama.

Doctor Right| 11.2.11 @ 11:59AM

Beating Obama IS the most important thing in next year's election.

We cannot hope for our ideal of "the perfect candidate" because it never, ever happens, even when the stakes aren't this high.

I refuse to make a phony stand for "principle" if my preferred candidate does NOT gain the nomination.

Do I want Romney?

Hell no! But to equate Romney with Obama, even with the spectre of RomneyCare lurking in the background is intellectually dumb.

Barack Obama is trying to "transform" America into something that it isn't, and that most Americans don't want. ALL of the GOP candidates would stop that.

So I appeal to all of the people on this forum to AT LEAST put aside our differences on election day in 2012 and support the GOP's candidate.

To paraphrase Jack, it is "Get rid of Obama, or ruin".

THAT'S THE TASK.

Clint| 11.2.11 @ 2:29PM

Again !
We Are Being Set Up By These RINO-CINO Flunkie Stooges For The Ruling Elites' Frontman Mittens Romney.

The Tea Party Rebellion Is Here.

Doctor Right| 11.2.11 @ 4:10PM

I rest my case.

Stay home on election day, Clint.

Prove that your malfunctioning synapses and their malformed thoughts are more important than the country's future.

Make a stand for libertarianism!!!

...And while you're at it, put an "OBAMA 2012" bumper-sticker on your IROC-Z, 'cuz guys like you and Jack might as well be Obama-Zombies.

...genius...

Clint| 11.2.11 @ 4:47PM

You're The RINO-CINO Flunkie Stooge,Who Said He Would Vote For The RINO-CINO Ruling Elites' Frontman, Mittens Romney.

Tell Us All About RomneyCare,TARP, Cynical Flip-Flops On Abortion, Gays, Refuses to Sign Pro-Life Pledge, Illegal Immigrants, "Little Chain Saw Al" At Bain, Crony Capitalism Campaign Money Trail.....

You're Up Pseudo-Intellect Elitist Wannabe, Dr.Reich.

The Tea Party Rebellion Is Here.

Doctor Right| 11.2.11 @ 4:54PM

"You're The RINO-CINO Flunkie Stooge,Who Said He Would Vote For...Romney."

Yes. I did. In fact, I made an entire post about it.

And you're the selfish, boorish, infantile stooge who would stay home on election day to prove some vague point rather than help his country with a vote.

You're a joke.

Clint| 11.2.11 @ 5:46PM

You Admit That You're A RINO-CINO Flunkie Stooge Who Will Vote For The Ruling Elites' Frontman, Mittens Romney.

Aaaand You're A Serial Liar,Dr.Reich.

We Tea Party Patriots Don't Stay Home On Election Day.

You're A Phoney Bloviatin' Pseudo-Intellect Elitist Wannabe, Dr.Reich.

That's The Joke.

Tell Us All About RomneyCare,TARP, Cynical Flip-Flops On Abortion, Gays, Refuses to Sign Pro-Life Pledge, Illegal Immigrants, "Little Chain Saw Al" At Bain, Crony Capitalism Campaign Money Trail.....

You're Up Pseudo-Intellect Elitist Wannabe, Dr.Reich.

idalily| 11.2.11 @ 4:22PM

Doctor, you are absolutely right. I will gag if Romney wins the primary, but I'll fight like hell for him in the general if I have to. We all all have to accept that it's defeat Obama or we are doomed. Obama is only one SCOTUS judge away from annihilating us and everything we stand for. Get a grip, people. Whoever is the nominee, we can worry about keeping that person a true conservative AFTER Obama is defeated.

Doctor Right| 11.2.11 @ 4:55PM

There's a few die-hard Paul supporters on this forum who would rather make a "statement" than defeat Obama.

Sad, isn't it?

Clint| 11.2.11 @ 5:48PM

There Are Israel Firster Faux Conservatives,Who Think They Can Sell Us The RINO-CINO Ruling Elites' Frontman. Mittens Romney.

Tell Us All About RomneyCare,TARP, Cynical Flip-Flops On Abortion, Gays, Refuses to Sign Pro-Life Pledge, Illegal Immigrants, "Little Chain Saw Al" At Bain, Crony Capitalism Campaign Money Trail.....

You're Up Pseudo-Intellect Elitist Wannabe, Dr.Reich.

DTOM| 11.2.11 @ 11:06AM

John Boehner sure is.

RCV| 11.2.11 @ 11:39AM

The reality is that if the economy continues on an upswing, President Obama will indeed get the credit, just as he will get the blame if it does not.
And Republicans also need to face the very real liklihood that Romney will be their nominee. Conservatives have systematically destroyed each of their front runners in turn, and Romney is likely to be the nominee by default. If conservatives can't reconcile themselves to that candidacy -- we know the Paulites can't -- the party's chances of success in 2012 are slim.

Doctor Right| 11.2.11 @ 12:02PM

Cain leads in most polls, even in New Hampshire.

WHY do people persist in the belief that Romney is inevitable???

He isn't.

RCV| 11.2.11 @ 6:23PM

I didn't mean to suggest it was inevitable, only likely, especially given Cain's increasing inability to deal with what seemed to be a fairly minor issue a day or so ago.

Clint| 11.2.11 @ 2:33PM

ObamaBoy Israel Firster LawBoy RCV Troll Is A Serial Badmouther Of Our Tea Party Co-Favorite Presidential Candidate Dr.Ron Paul Along With His Girlfriend ObamaBoy Israel Firster Alan Brooks.

The Tea Party Rebellion Is Here.

RCV| 11.2.11 @ 6:24PM

I am indeed a serial badmouther of Ron Paul, because he's a serial idiot.

idalily| 11.2.11 @ 4:24PM

What upswing? Jesus, do you REALLY believe we are in an upswing? If so, you are an even bigger idiot than I thought.

nohussein| 11.2.11 @ 12:17PM

things won't improve until the hussein is ousted, it's that simple.

Al Adab| 11.2.11 @ 1:08PM

Maybe the Tea Party (or Amspec) should buy every member of Cobngre3ss a copy of Thomas Sowells' latest book, or his Basic Economics. I'd contribute. Heck I might buy one for my Congressman anyway.

Al Adab| 11.2.11 @ 1:09PM

oops. Sorry, that's Congress. Big fat fingers.

Ron| 11.2.11 @ 3:00PM

Sorry gang, but the Lame Stream media is trying to tout the "good" stock market reports as proof that NerObama's policies are working, and that an uptick is due to all of the stimulus spending...just took longer, don't ya' know...he needs more time...LOL

Kent Lyon| 11.2.11 @ 4:38PM

What is inexplicable is that someone so intelligent as Ross Kaminsky thinks these consequences of so-called "bad economists" are unintended. This is all part of the "Fundamental Transformation" of America promised by Barack Obama. His goal is to transform the "shining city on a hill" into Grove Parc Plaza. He's making excellent progress--Progressives' Progress, as it were. Good Capitalists are holding their own, and, unlike Mr. Kaminsky, they know the adverse effects are intentional, and so fight harder to overcome. But Obama's minions are generating ever-increasing obstacles. Given America's increasing dependency culture, Obama is likely prevail--permanently. Then, welcome to the New East Germany. Mr. Kaminsky is going to have to do more than write a pusillanimous column, and understand better what is afoot, if he is to actually support those resilient Capitalists. He can start by reading Dierdre McCluskey's "Bourgeois Dignity", taking it to heart, and preaching it in sotto voce, and voz alta, with all his conservtive pundit fellows, from the rafters.

Ross Kaminsky | 11.2.11 @ 10:21PM

Kent, if you note my comment above, I said specifically that things perceived by the average person as unintended are often intended by the left. My point, however, was when it comes to something like high unemployment following Keynesian stimulus, I think that is very much unintended. I understand the Alinskyite argument that you want to make people as desperate as possible, but there's no way those economists (Romer, Bernstein, Summers, etc) are Alinskyites. They really just thought their stupid policies would work.

Of course the adverse effects are intentional. I never stated or implied otherwise. I said that capitalists are doing at least something despite them.

I can handle criticism of my writing, but please don't accuse me of writing/saying something which I didn't say, didn't even come close to saying.

Kent Lyon| 11.2.11 @ 4:40PM

What is inexplicable is that someone so intelligent as Ross Kaminsky thinks these consequences of so-called "bad economists" are unintended. This is all part of the "Fundamental Transformation" of America promised by Barack Obama. His goal is to transform the "shining city on a hill" into Grove Parc Plaza. He's making excellent progress--Progressives' Progress, as it were. Good Capitalists are holding their own, and, unlike Mr. Kaminsky, they know the adverse effects are intentional, and so fight harder to overcome. But Obama's minions are generating ever-increasing obstacles. Given America's increasing dependency culture, Obama is likely to prevail--permanently. Then, welcome to the New East Germany. Mr. Kaminsky is going to have to do more than write a pusillanimous column, and understand better what is afoot, if he is to actually support those resilient Capitalists. He can start by reading Dierdre McCluskey's "Bourgeois Dignity", taking it to heart, and preaching it in sotto voce, and voz alta, with all his conservtive pundit fellows, from the rafters.

Don Carlson| 11.2.11 @ 5:30PM

In 2006 the leftist Democrats took control of the Congress and began broadcasting their plans for America---higher taxes to punish those who have succeeded, the indoctrination of our children, increased entitlements to create slaves to the coming socialist machine, and all the anti-American crap we've come to expect. The result of that election was the retreat of business, the weakening of the economic engine, and the revelation of the many destructive boondoggles created under the auspices of "government help"---the housing bubble being only the most obvious. 2008 brought America its first communist president (and its least able), a clown who with his brain-dead liberal followers is determined to turn the United States into a satellite of Marxist academia. Half of America has since awakened to the danger, and, in the same fashion that Americans went into a protective crouch in response to the agenda of the neo-Bolshies, they now show their hopefulness for a future without Mr. Obama and his perfidious cronies. It needs to be said the clown will attempt to take credit for the slight improvement in the economy that is ironically predicated upon his disappearance from the political scene. Let us hope that his replacement will be an able and serious conservative and not Mitt Romney.

Jim Hlavac | 11.2.11 @ 8:48PM

Dear Mr. Kaminsky, and Mr. Tyrrell of course - while I understand this argument, and argue it to my friends incessantly -- I do submit you all have the Obamian view of economics towards gay folks, you are anti-Bastians in regards to us. For how will "breaking" or "preventing" us, and our unions, possibly help the economy or heteros? You could have no answer. And I dare say, I'm far more about the long term -- gay happiness -- than you are in the short term -- your queasiness of gayness. Yes, for as you so rightly quote at the end of the article: "There are two consequences in history; an immediate one, which is instantly recognized, and one in the distance, which is not at first perceived. These consequences often contradict each other; the former are the results of our own limited wisdom, the latter, those of that wisdom which endures."

Yes, your immediate concern is you don't like gays, but in the longer term, wisdom teaches: we don't matter, for we are few. And therefore, to give us a shred of decency and a dash of family law would be far more beneficial to you and us in the long term, but seems more beneficial in the short term, for you are fearful. Which it is not the case, for we are not you, and you are not us. And this you all can't see, for, like Obama on economics, you all are oblivious on our reality, which is, oddly, economics to some extent too. Oh well, that's one way a gay guy can teach a bit about economics -- which you master brilliantly, until you encounter us, and then you turn to the liberal side of mush heads.

Bastian would not have proposed breaking gay folks, but embraced us. Liberalism would bash us, and that you have embrace. Weird, eh? Oh well.

Ross Kaminsky | 11.2.11 @ 10:33PM

Jim,

First, it's Bastiat, not Bastian.

Second, on what basis do you accuse me of being anti-gay? Was there the slightest hint of "social issues" in this article? Have you ever read anything that I've written about social issues?

If you had read anything where I've mentioned social issues on these pages, you'd find me being crucified in the comments for not being "conservative" enough. That's fine with me, of course, because I don't claim to be a conservative. I'm a slightly conservative-leaning libertarian.

As for my take on gay issues, I reference my own writing at my own blog:
http://rossputin.com/blog/inde.....-this-week

Furthermore, I have a gay uncle, a gay brother-in-law, and I am friends with my gay congressman, Jared Polis. He and his partner have been up to our house, and I've been to theirs.

So, Jim, I accept your apology. Perhaps you'll learn something about lumping all straight non-lefitsts together as somehow anti-gay.

This is also quite good, not by me:
http://web.archive.org/web/200.....ht-crimes/

POST American| 11.2.11 @ 11:12PM

--Instead of chicken feed side issues
and co-opting DIS--tractions, the writer
might take up the issue of the inherent,
Law of Moses ABOMINATION that is
fractional reserve lending ---administered,
as it always is, by actuarial psychopaths.

Hard Right Turn| 11.3.11 @ 1:43AM

OWSers

OWSism is the politics of collapsism. The OWSists want to collapse capitalism. Socialism is collapsing Europe. The welfare state is collapsing America.

Capitalism is a naturally occurring economic system. No one need be forced to participate in capitalism. Only socialists can participate in socialism.

Socialism does not function without capital.

http://spectator.org/archives/.....od-capita/

Earle Belle| 11.4.11 @ 2:14AM

The best grasp on the economy of any Presidential candidate, ever!
http://www.youtube.com/watch?f.....7ASV53gczs
http://www.revolutionpac.com/2.....ing-forum/

Earle Belle| 11.4.11 @ 2:16AM

Trick or Treat? (9-9-9 or Restore America?)

The Daily Caller reports http://dailycaller.com/2011/10.....halloween/ :

“As children across America costume themselves as ghouls, ghosts, goblins and former North African dictators Monday night, they may have missed the most spine-chilling scare of the day. According to calculations based on the International Monetary Fund’s World Economic Outlook, on All Hallows’ Eve the United States’ total debt will surpass its Gross Domestic Product for the first time since World War II.

That means the average American’s share of government debt is more than an average American makes in a year. Spooky!

On October 19 Bloomberg released a chart showing that per capita gross government debt would to exceed per capita GDP in the very near future. As Bloomberg put it, “America’s bills are about to exceed its paycheck.”

Herman Cain’s 9-9-9 plan does not address this national debt problem. There are no significant cuts. Neither have any of the other candidates offered any such cuts.

Ron Paul’s Restore America plan: http://www.ronpaul2012.com/the.....e-america/ cuts $1 trillion in the first year. It is the only plan among the 2012 GOP presidential field that offers real and substantive cuts in line with what this country desperately needs.

Earle Belle| 11.4.11 @ 2:17AM

Or as Rush Limbaugh put it: http://dailycaller.com/2011/10.....-ron-paul/ :

“Fooling around the margins isn’t going to get it done. A 2% tax cut here, or a 3% tax variation over there is not going to fix what’s wrong. Genuine, big spending cuts are the only thing that is going to bring us back … But nobody on our side has ever seriously proposed this and Ron Paul is going to.”
Ron Paul: Fed ‘On the Defensive’

The Hill reports:

GOP presidential candidate Rep. Ron Paul (R-Tex.) believes his criticisms of the Federal Reserve are finally resonating with voters.

Speaking on MSNBC’s “Morning Joe” on Thursday, Paul argued that the American people might finally be ready to pay attention to the message he’s been pushing for years.

“Time has changed – and if it is true that (voters) are coming my way, I tell you what, we have a solid base,” Paul said. “The country has changed, dramatically different compared to four years ago. Think about the success we’ve had with the Federal Reserve. Bernanke has to go out in front of press conferences – they’re on the defensive now.”

“The movement is in our direction – you talk about the failure of the Fed,” he continued. “This is significant. They don’t have any cards left to play, this whole economy has no cards left to play.”
http://thehill.com/video/campa.....-defensive

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Patrick Ryan | 5.24.13

FLASHBACK TO: 1995

Pope Culture

By George Sim Johnston

A man of faith in a godless age is hitting Americans where it hurts.
Why the GOP Does Not, Like, Totally Suck

By P.J. O'Rourke

Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
Dames at Sea

By John Corry
In the Absence of Guns

By Mark Steyn

In Britain, defending your property can get you life.
The Metaphysical Martini

By Werner J. Dannhauser
Counting the Costs of Clintonism

By Robert H. Bork

The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
Chuck McHagel

By George Neumayr

It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The Legacy of Old John and Mother Fresh-Roasted

By Douglas Bartholomew
It’s the Best Time of the Year

By Mark Steyn

The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
The Bush Crack-Up

By Brit Hume

Was the President done in by the economy, or by the politics of the economy?

Clip of the Day

H/T to National Review Online