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Phew! Don’t Worry Folks, the Politicians Stayed Up Past Midnight to Rob Us Blind

The swagger of these people is astounding. The public is against this 9-to-1 by some measures, such that they pass it literally in the middle of the night on a weekend, and then they have the audacity to pretend that we were worried they couldn’t agree on how to split up $700 billion amongst themselves? […]

Bruce Bartlett: Another Fair-Weather Friend of the Free Market, & Commentary on Capital Consumption

Well shoot, just when I thought we had this all locked up from a disinterested academic viewpoint, Bruce Bartlett comes along and endorses the Paulson Plan. He starts out by explaining the fractional reserve system. It doesn’t appear that Bartlett has even considered whether fractional reserve banking is a good idea; he just takes it […]

"That’s MY King. I Wonder…Do You Know Him?"

So asks S.M. Lockridge:

The Nonsense "Free Market" House Republican Alternative

The House Republicans valiantly stood up and delayed the Paulson Plan, but their suggested alternatives make no sense. First, they want to lower the capital gains tax. That is good in general, but as some have pointed out, it doesn’t really help firms unload their MBS–they obviously will be selling them at a loss, and […]

Is Bernanke Going to Inflate or Not?

That has been the question in my mind for the last year. As I will explain in more detail in a future post, Bernanke has been “sterilizing” his liquidity injections to Wall Street as best he could, thus far. Briefly, what Bernanke injects as reserves by lending to a bank, he takes out of the […]

Kudlow’s Line in the Sand Against Bailout Lasts For Two Days

In a CNBC description that ran on Thursday, Sept. 25, popular free market analyst Larry Kudlow had said he wouldn’t support the Paulson Plan if it contained corporate equity for the government or meddled with executive pay. Kudlow said: If the bailout bill allows executive pay-caps and government ownership warrants for all buying or selling […]

Pat Buchanan: Foreigners Behind the Bailout!

Buchanan has a great piece up today at LRC. He stresses an aspect of The Great Bank Robbery of 2008 that I hadn’t considered: Since Americans save nothing and have to borrow from abroad to finance our trade and budget deficits, wars and foreign aid, what the secretary proposes is this: that Congress authorize the […]

Conservatives Should Oppose Corporate Welfare

So I tell the great Americans at Townhall. An excerpt: The free market is a superior economic system to central planning. This superiority demonstrates itself during normal times but especially during an economic crisis, when resources must be rearranged before regular growth can resume. By embracing massive corporate handouts and other socialist measures, the Bush […]