The headline above Allister Heath’s latest over at City A.M. reads as follows:
America is slashing spending – but its economy is still growing
By “spending” Heath, or Heath’s headline writer in the event that it’s not Heath, means government spending.
We’ll know we’re really winning when headlines like that one replace the “but” with an “and”.
The King of Camelot was killed by a commie loser. The impossibility of processing that drove the left crazy, and they still can’t face it.
- Glenn Reynolds, who clearly enjoys annoying conspiracy theorists, as I do. Meanwhile, Janet Daley reflects on what it was like to be a Kennedy supporter back in the early 1960s.
An entertaining story from the Guardian:
Obamacare website developers rush to fix bug suggesting hacking methods
Flaw in Affordable Care Act site records hack attempts through its search box and re-presents code as autocomplete options
White Sun of the Desert writes on Obamacare.
Parallels between the soft evils of the modern UK or US and the monstrous twentieth century dictatorships do not usually appeal to me for reasons I need not rehearse. However I think that in this post Tim Newman has made an acute psychological comparison.
Time to appeal to the vozhd.
Ivory is valuable and this leads to poaching (which is another way of saying ‘seeking more supplies of rare ivory’).
The US government had decided to reduce the global supply of ivory by destroying six tonnes of the stuff.
“These stockpiles of ivory fuel the demand,” said Dan Ashe, director of the US Fish and Wildlife Service, “We need to crush the stores of ivory worldwide.”
And when supply is reduced, what happens to prices and therefore the motive to secure new supplies?
Surely if they wanted to reduce the incentive to poach ivory, rather than crushing their stockpile, they should have flooded the market with it. But of course Dan Ashe and his ilk work for governments and thus know nothing of this ‘economics’ malarkey.
“The insurance companies simply do not offer those plans that are being cancelled. And there’s no way they can reformulate them in the 30 days available. And anyway, killing off those plans was the whole point of the design change. They wanted to destroy “insurance” as a concept in health care and to move to something much more like pre-paid health care. Thus plans that had high deductibles (ie, catastrophic plans, aka insurance instead of assurance) had to be banned. This isn’t a mistake, an error, a flaw in the plan, it was one of the very points of it all.”
- Tim Worstall, commenting on calls by former US president Bill Clinton for efforts to be made to prevent insurance firms scrapping medical cover in the US, and hence save the face of the current Obama administration. When a politician as crooked as Clinton is seen trying to come to the rescue, you are, in non-technical terms, up shit creek sans paddling device. (Actually, given how things are going, Clinton’s era was a veritable golden age, although let’s not forget that his own “Hillarycare” reforms were shot down by the-then Congress.)
In my previous posting here I asked: What if there is a real collective disaster? Well, from what I’ve been reading, in the US of A now, they’ve got one. Not a day now goes by when I don’t thank the universe that I won’t have to navigate my way through Obamacare, or anything like it, any time soon.
I particularly liked this comment on it, from Peggy Noonan:
I bet America hopes the websites never work so they never have to enroll.
SQotD has already been taken, but had it not been …
I also liked the comment from a few days back (sorry don’t recall where) to the effect that the most secure thing about Obamacare is that not even the hackers are able to get into it long enough to steal anything.
A few years back, whenever one of us Brits here had a moan about the state of things in Britain, American commenters would chime in with invitations to us to give up on dear old doomed, doomed Britain, and come and live in the land of the free. There’s been less of that sort of commenting lately.
The Obama administration has performed the unique trick of alienating the majority of our most important allies, while at the same time causing America to be viewed as a patsy by its enemies…..The situation is bound to get worse now that the administration has taken the position that most financial institutions outside the United States are conspiring to help Americans and others avoid U.S. taxes and, thus, is attempting to require all of these foreign financial institutions to report to — and, in effect, become agents of — the Internal Revenue Service. A global revolt is brewing against the United States for being an international financial bully. The consequences of this revolt are likely to be extremely damaging and long-lasting to the nation
This is by Richard W Rahn, of the Cato Institute.
The United States has been threatening to criminally indict nonresident foreign bank executives for not complying with U.S. tax law, even in cases when the banks were not operating in this country or violating their own nation’s tax laws. This is causing great resentment, as one would expect. Each country has the right to its own tax and financial-privacy laws, whether the United States agrees or not.
Europe and most other countries prohibit capital punishment. What if other nations started indicting and imprisoning our federal or state government officials, including judges when they traveled outside of the country, for carrying out the death penalty? The point is, if the United States tries to enforce its laws on non-Americans working and living outside of the U.S. for acts that are not criminal in their home countries, it will put all Americans at risk if other countries start to retaliate, which is very likely, given the increased anger over U.S. actions.
The administration has the unmitigated gall to insult others by assuring foreign governments that all the sensitive financial information collected will be kept confidential. If the administration continues on this reckless and irresponsible course, the next president of the United States may well be forced to make an “apology” tour to most of the world’s countries for wrecking the world economy
I suppose it would be rather droll to watch the Light-bringer take to Air Force One to go on a tour grovelling to various nations for spying on them as well as putting the corrupt IRS in charge of the globe’s economy. But it isn’t going to happen under this administration, given the utter shamelessness of those involved in it. And yet those of us outside the US cannot afford to strike too many poses, since I have no doubt that given half a chance, countries in the EU, and the likes of Russia and China, would love to try to enforce extra-territorial legislation such as the US tax code if they could do so. America is not unique in this disastrous course; what is happening is that, given its still-large economic muscle, the US can do this. Most investment firms, for instance, will have some exposure to the US market to some degree and it is very hard to ignore the country. In some ways, though, the US drive, via legislation as described in the article, is a reflection in some ways of US weakness. The country is out of money, and is doing anything it can short of military invasion to get it (it could be argued that that country’s actions against Switzerland are bordering on force).
A small country behaving like this would be told, in so many words, to fuck off.
There was a time — and it really wasn’t that long ago — when if you were a financial firm, you had to have an office in Lower Manhattan, when film studios had to have offices in Los Angeles, and high-tech firms really needed to be in Silicon Valley. If Travis Brown’s big data set shows us anything it is that those days are done. You can build very fine automobiles in the United States, but if you aren’t already in Detroit, you’d be a fool to set up shop there. For the feckless governors of high-tax, big-government states with Governor Perry and Governor Scott breathing down their necks, the only question is which Rick they’re going to get rolled by.
- Kevin Williamson
What is the solution to the housing crisis? Preston Byrne, author of an Adam Smith Institute Briefing Paper entitled Burning down the house, knows what it is not:
Government is not the solution to the housing crisis.
That being the subtitle of his Briefing Paper. In his penultimate paragraph, he expands on that thought:
… government is not the solution to the housing crisis: government is the housing crisis.
Byrne is giving my next Last Friday of the Month talk, on Friday 25th, in other words at the end of this coming week. His talk will be entitled “Mortgage Subsidies: Why They Didn’t Work in America and Won’t Work Here.”
I’m guessing that this, the italicised preamble at the top of this Briefing Paper, is a further clue to what he will be saying:
Help to Buy will not end the housing crisis. The government’s plans to increase liquidity in the housing market will do little to solve the UK’s long-run housing supply shortage – and do much to aggravate high housing prices while improperly using the state as a risk transfer mechanism. Liberalisation, not intervention, is the best long-term solution for the distorted British housing market.
So, not a bundle of laughs. But Byrne, an American who is now a London-based securities lawyer, is an engaging speaker, and I doubt it will be quite such a grim evening as the above quotes suggest. There is, after all, humour to be found in watching politicians carefully placing banana skins in front of themselves, and then running enthusiastically over them. Even if we’re the banana skins.
More Preston Byrne ASI verbiage here, on this and other subjects (see the links top right).
… one day it would end, and not nearly enough of the government actually did shut down.
I’m sure there are folks who don’t understand why Libertarians rejoice at the total miserable failure of ObamaCare. Let me put it this way. We rejoiced when the Berlin Wall fell. Many of us were downright giddy when Pol Pot was arrested. I intend to host a Tarrant County Libertarian Meetup/Party on the night of Fidel Castro’s funeral. People who forcibly intervene in the lives and choices of adults do more harm than good. When they fail, society benefits. It really is that simple.
- The Whited Sepulchre