Stinky and stinkier
Posted by aogFriday, 30 January 2009 at 19:01
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In Instapundit ⇒ Ann Althouse ⇒ The Daily Beast is the quote from an unnamed Republican about President Obama pushing the Porkalooza —
he didn’t convince anyone. After he left, we looked at each other, and said, “How can they stick him with this garbage?”
Why not? Much of the American Street will simply not vote for Republicans just “because”, regardless of actual policies or the effects of those policies. Beyond that, much of the GOP has become part of the old style Democratic Party ruling class which means there’s not much alternative. So why worry about whether the plan Obama is peddling makes any sense?
Wednesday, 04 February 2009 at 11:58|
I am upset about Madoff on two grounds:
1. His clients were as crooked as he was, and I have always resented the fact that using public resources to pursue and prosecute con artists of that kind inevitably also uses public resources to make other crooks whole. In the Madoff situation in particular, his so-called victims are likely to pass off 40% of their losses (via tax claims) to people like me who were too honest to deal with Madoffs.
2. Because Madoff was acting as a Smithian rational man and acting to maximize his income, a lot of people — and I don’t mean those who invested with him — are going to suffer, some very much, because of his miscalculation.
Your problem is that you misidentify who the victims were,
On principle, if a person employed by, say, Lehman Brothers can usefully plan an investment strategy — we’ll take that as a gedanken, since the evidence that it really happens is thin — then why on earth cannot a person employed by a public agency usefully plan something?
Your objection is that central planning attempts to plan too much. Agree. I have never advocated central planning. My position is that attempting to plan, eg, $55 trillion in credit default swaps also plans too much. Plus, the incentives to plan to screw other people is much, much greater in the private than the public sector.
I am amused this morning to learn that the Republicans have finally proposed some sort of economic stimulus that is not a tax cut: they want the government to mandate mortgage interest rates. ROTFL.
As for stimulated the ‘worst off sectors,’ all sectors are pretty badly off. I am dubious that the economy can be revived. I am far more concerned that the international financial collapse has not been definitely forestalled. The bank profit statements suggest that the situation will collapse any moment.
Tracked from Unpartisan.com Political News and Blog Aggregator
: Obama hosts labor leaders; will undo Bush orders
on 31 January 2009 at 02:44
President Obama is playing to one of the Democratic Party's most reliable constituencies organized l