We are developing the social individualist meta-context for the future. From the very serious to the extremely frivolous... lets see what is on the mind of the Samizdata people.
Samizdata, derived from Samizdat /n. - a system of clandestine publication of banned literature in the USSR [Russ.,= self-publishing house]
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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
The message is clear – grovel and enjoy your genitals being groped or face arrest.
– Paul Joseph Watson
I am rather leery of many of the things on that site but just listen to the embedded video.
“When it comes to development programs, what we are really talking about is creating an environment within which gifted players have the best opportunity to flourish. When identifying these environments, the evidence consistently points to a committed, passionate coach teaching, guiding and mentoring a gifted player to a successful pro career. How, then, do we best ensure that such relationships are given the best opportunity to thrive in the future? First, it’s imperative to understand that tennis is a highly individualistic sport. Aside from a shared ability to win, the only thing that many of the great champions had in common was that they had virtually nothing in common. Nothing better illustrates this fact than the contrasting styles and personalities of some of the game’s great rivalries, like McEnroe and Borg, Evert and Navratilova, Sampras and Agassi, and Federer and Nadal. Incidentally, it’s a useful exercise to look at who the primary coaching influences were in the development of these players (John McEnroe – Tony Palafox and Harry Hopman, Chris Evert – her father, Martina Navratilova – Billie Jean King and I also understand that Tony Roche had an influence, Pete Sampras – Peter Fischer, Andre Agassi – his father and Nick Bollettieri, Roger Federer – Peter Carter, Rafael Nadal – Toni Nadal). Second, like players, coaches also have their own unique methods and personalities. The best ones are independent thinkers who wouldn’t survive for a second in a regimented environment, where they would be expected to ignore their own knowledge and conform to the dictates of a “one size fits all” approach. Can you imagine Wayne Bryan, Nick Bollettieri and Toni Nadal working within the confines of a stifling bureaucracy? With such a diverse range of players and coaches out there, it’s essential that players and their parents are free to determine for themselves who is the best coach. Any wider program or system must take this into account.”
Chris Lewis, who, by the way, is a big Ayn Rand fan. (Thanks to the SOLO Passion website for the pointer to the article).
Things are also grim here in Arkham, Massachusetts but as Samizdata commenter Bobby B has managed to get this message out to the world, I had to share it with you…
Don’t know if this report will get through – the power grid is failing, internet technicians throughout the country are being deported as their work visas expire, and my federal-law-mandated ergonomic keyboard is dissolving even as I type – but I’ll send it anyway, because this news must get out.
With the total collapse of the United States of America now entering its seventeenth hour, the situation is grim. Here in Minnesota, with our frigid winter approaching, we are unable to procure supplies of heating oil and natural gas until interstate transport of these commodities resumes. Tanker trucks remain backed up for miles at our southern border awaiting the printing of additional Federal Hazardous Waste Transport Authorization forms.
Across the state, worried citizens are being confronted with grocers’ foodstocks which have received no federal inspection stamp. With hungry children waiting anxiously at home, hoping against hope that Today Will Bring Food, bewildered parents are facing for the first time in their generation the choice between saving their childrens’ lives, or obeying federal law. Across the Plains states, children are perishing in droves.
All throughout the states, ongoing and viable Alternative Sustainable Energy businesses – businesses that employ tens of people – are closing their doors and turning off their lights, no longer able to sell solar panels and windmills without the federal checks that buttress the consumers’ heavily-subsidized prices. The 12,715-year payback period for solar panels which consumers will now experience in the absence of government purchase-price subsidization has crushed this entire economic sector – the fastest-growing sector of our economy for the last seven years – leaving entire barrooms filled to capacity every evening with old Obama donation bundlers commiserating about the end of the good times and trying to sell each other their $30,000,000 coastal homes.
. . .
As I type this, the air in our underground shelter is becoming more foul and depleted. Frantic calls to the EPA for advice and support go unanswered – the phones just ring and ring. My wife says, open the damned windows, you big idiot, but I dare not, at least without proper approval. She would seemingly expose our lovely children to hazards unknown, without even bothering to check with The Authorities. Bitch.
As you can see, the walls of our suburban basement seem to be closing in on us, making us all edgy and tense and hostile. Our new Hobbesian existence strains the bonds of our shared civility, and I do believe that another day in this hell will find us treating people of differing genders and races in unequal ways, refusing to share our wealth with those among us who are too uneducated to understand that bar-hopping 24/7 will not generate wealth for themselves, and drinking unhomogenized milk.
If you read this report – if the internet remains functional for a few more hours – please – Send Warm Clothes.
US government begins shutdown after Congress debates end in stalemate
Far-called our navies melt away—
On dune and headland sinks the fire—
Lo, all our pomp of yesterday
Is one with Nineveh and Tyre!
Judge of the Nations, spare us yet,
Lest we forget—lest we forget!
With the watchmen gone from their posts, there can be very little chance that any of our American readers can have survived the plagues, the zombies, the rampaging NRA members and lack of a panda-cam. Theirs has been the fate of Belgium.
Mourn. Survive. But can our doom be far behind, now that they have said they will scrap the Human Rights Act?
I was reading an article about the creation of the Federal Reserve Bank (boo, hiss) in 1913 and I came across this:
Faced with the supreme necessity of sustaining the national credit and providing a market for Government securities, the Secretary of the Treasury in 1863 passed a National Bank Act basing the issue of currency by the banks upon the purchase of an equal amount of Government bonds. That was a cardinal error which still remains uncorrected. It has entailed a vast locking-up of banking capital in Government bonds as security for notes, and it has made impossible a normal and elastic currency system based on commercial paper and similar assets and automatically adapting itself to the daily needs of business.
Cue utter confusion. For starters, why would a bank want to issue currency? Surely, a bank has all the money it wishes to lend out in the form of deposits. And what is meant here by currency? notes and coins or money in general?
…it has made impossible a normal and elastic currency system based on commercial paper and similar assets and automatically adapting itself to the daily needs of business.
This is really confusing. I can understand how notes work in a goldsmith system. Briefly, a depositor deposits some gold with the goldsmith and in return receives a receipt for that gold. The receipt, or note, is then capable of being used as money because it is literally “as good as gold”. I can see how government bonds might replace gold but it requires a depositor. And surely, once a depositor has deposited his bond the bank can issue its own receipts/notes rather than having anything to do with the government. Or maybe that’s illegal. Or maybe depositors would prefer to use government notes as they are accepted in more places.
“…a normal and elastic currency system”. What do they mean by “elastic”? Do they mean what modern-day Austrian economists mean i.e. inflationary? I doubt it because at the time the UK was on a gold standard which tends to be anti-inflationary [notwithstanding comments I have made about how there was some inflation at the time].
And what’s all this about commercial paper? The modern meaning is short-term business debt. I can kind of see how that would replace government bonds although presumably it would have to be extremely homogenous and what happens when the term is up?
And where, if anywhere, is the link with gold which, as I understand it, was one of the main issues in the 1896 presidential election?
Whatever the case may be it seems clear that the US monetary system was far from being a free market before the Fed came along.
One last thought: there are times when I think the confusion that monetary matters generate is deliberate rather than accidental.
 The Times 10 September 1913 page 8
It was twelve years ago now, so it is no particular surprise that nobody here, as September 11th 2013 comes to its end, had much to say about September 11th 2001. But Simon Clarke of Libertarian Home does say something of significance about this tumultuous day. In a posting entitled Libertarian Home started 12 years ago today, he says this:
To say that Libertarian Home is a result of 9/11 sounds like some random happenstance, but it was not. 9/11 woke me up, and got me thinking.
9/11 woke up a lot of people. It got a lot of people thinking. A great many blogs started up soon after that day. It wasn’t merely because, at around that time, they could. In the aftermath of 9/11 people found themselves wanting to say things that the regular media were not saying, and to criticise a lot of the things that the regular media were saying.
Simon did not immediately start writing blog postings, but he did start reading blogs, including this one, which is most gratifying to know.
In short, by 2013 the Republican Establishment had proved itself so alien to the domestic concerns of that majority of Americans who dislike the direction in which the ruling class is pushing it, that the party was becoming irrelevant. Despite the Bush Administration’s disastrous commitment to Nation-Building however, the memory of Ronald Reagan’s and Dwight Eisenhower’s forceful, levelheaded patriotism still lingered about the party.
But by urging war on Syria more vehemently than Obama, the Republican Establishment may have finished off the Republican Party, as we know it. Surely it has discredited itself.
– Angelo Codevilla
A while back, I did a piece here about US government space policy. I tried to answer the question of why President Obama was doing it so bizarrely well, given that he seemed to be doing lots of other stuff so bizarrely badly. My answer was basically that he is doing everything well, as he understands it. He believes the US government has been chucking its weight around in the world far too much of late, and that this aspect of its activities should be weakened. And he believes that the US government hasn’t chucked its weight around enough, domestically. That aspect of US government policy should be strengthened. All this has been and is being busily accomplished, indeed accomplished with considerable political virtuosity, with Big Government and the political party that favours Big Government working ever more closely in harmony with one another.
Norman Podhoretz seems to agree, certainly on the foreign policy bit:
It is entirely understandable that Barack Obama’s way of dealing with Syria in recent weeks should have elicited responses ranging from puzzlement to disgust. Even members of his own party are despairingly echoing in private the public denunciations of him as “incompetent,” “bungling,” “feckless,” “amateurish” and “in over his head” coming from his political opponents on the right.
For how else to characterize a president who declares war against what he calls a great evil demanding immediate extirpation and in the next breath announces that he will postpone taking action for at least 10 days – and then goes off to play golf before embarking on a trip to another part of the world? As if this were not enough, he also assures the perpetrator of that great evil that the military action he will eventually take will last a very short time and will do hardly any damage. Unless, that is, he fails to get the unnecessary permission he has sought from Congress, in which case (according to an indiscreet member of his own staff) he might not take any military action after all.
Summing up the net effect of all this, as astute a foreign observer as Conrad Black can flatly say that, “Not since the disintegration of the Soviet Union in 1991, and before that the fall of France in 1940, has there been so swift an erosion of the world influence of a Great Power as we are witnessing with the United States.”
Yet if this is indeed the pass to which Mr. Obama has led us – and I think it is – let me suggest that it signifies not how incompetent and amateurish the president is, but how skillful. His foreign policy, far from a dismal failure, is a brilliant success as measured by what he intended all along to accomplish.
I am seldom convinced by explanations of why the President of the USA has just done something that the explainer considers stupid, when the explanation is that the President of the USA is himself stupid. I didn’t believe this kind of thing when it was said about Reagan or Bush jnr by their political opponents, and I don’t believe it now when it is said about Obama, by his political opponents. Those who argue that this or that bad thing happened because the President is an idiot call this argument things like: “Occam’s Razor”. But I think they confuse brevity and simplicity, and what they want to believe, with truth.
If the President is so stupid, how come he’s President? He got that bit right, didn’t he? And President Obama is a member of an even more exclusive club, one that also includes Reagan and Bush jnr. He is a President of the USA who got himself re-elected. The dumber and more disastrous you think his first term policies were, then the smarter you must concede he had to be to win re-election.
I think the argument that Obama knows just what he’s doing and is doing just fine, by his reckoning, makes far more sense.
A generation from now, Americans will be richer, more leisured, healthier and longer-lived than ever. That sentence could have been written at any time since the Mayflower landed (at least of the settlers; it was a different story for the indigenous tribes). It would always have prompted scepticism; and it would always have been true.
– Daniel Hannan begins his response to America 3.0, an optimistic book about the historic origins of and future consequences of the exceptionalness of America, by James Bennett and Michael Lotus. Hannan shares their optimism.
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Who Are We? The Samizdata people are a bunch of sinister and heavily armed globalist illuminati who seek to infect the entire world with the values of personal liberty and several property. Amongst our many crimes is a sense of humour and the intermittent use of British spelling.
We are also a varied group made up of social individualists, classical liberals, whigs, libertarians, extropians, futurists, ‘Porcupines’, Karl Popper fetishists, recovering neo-conservatives, crazed Ayn Rand worshipers, over-caffeinated Virginia Postrel devotees, witty Frédéric Bastiat wannabes, cypherpunks, minarchists, kritarchists and wild-eyed anarcho-capitalists from Britain, North America, Australia and Europe.
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