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.
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Bloomberg carries this article today about the willingness of China to go on holding Western debt that might deteriorate in value:
China, the U.S. government’s largest creditor, is “worried” about its holdings of Treasuries and wants assurances that the investment is safe, Premier Wen Jiabao said.
“We have lent a huge amount of money to the United States,” Wen said at a press briefing in Beijing today after the annual meeting of the legislature. “I request the U.S. to maintain its good credit, to honor its promises and to guarantee the safety of China’s assets.”
Good luck with that. As Brian Micklethwait noted the other day, the fact that the US, or indeed the UK, might be downgraded in credit terms as nations or even default on certain debts, is no longer unthinkable. Defaults are not just things that happen in Ecuador, Russia, or competelyfuckedupistan. They can happen in the supposedly rock-solid financial centres of the world.
As Glenn Reynolds says sarcastically of the new US government of Mr Obama, the country is in the best possible hands.
Unless American politicians and bureaucrats wise up, there will be a second war with Mexico within a generation.
This is not hyperbole. Drug lords are taking over the border areas between the two countries. Killings are spreading into American cities in the southwest. Firefights near the border are becoming common. There have been kidnappings within the United States in which some of the perpetrators are thought to have not only been using military equipment, but may have been moonlighting Mexican police or military men.
Before you begin to vent your rage on Mexico, I would like you to ponder the source of the problem. This is not an ideological battle where the world vision of the enemy is independent of what we think or do. That is what we face in the Middle East. Our actions there may affect Islamist strategy and tactics, but not their dream. We are not the creators of that problem.
The problem in Mexico is an entirely capitalist one. There are goods which are in great demand. Those goods are profitable and over nearly four decades we have caused a vast global giga-billion dollar industry to come into existence where once there were college students smuggling trunks of grass over the border at Spring Break. That is also not hyperbole. One of the floors of a dorm next to mine did exactly that and supplied the entire CMU campus back in the 1969-71 era. Then came Nixon and ‘Operation Intercept’. And what was the great accomplishment of this at the time great expenditure of taxpayer money? Why, by the time I left grad school prices had doubled, tripled or more and nearly all the smuggling was in the hands of organized crime instead of paying the tuition, room and board of a few engineering students. Even so, enforcement at the time was a still a joke, and much laughed at even as it transitioned from “Berkeley to Boston Forty Brick Lost Bag Blues” to Cheech and Chong’s “Up In Smoke”.
So what did the moralizing Statists do? Admit their failure? Apply tax payer money to something useful? Of course not… they did what governments always do with failures. They increased the budget. When that failed utterly they increased it again. And again. And again. Meanwhile, Libertarians correctly predicted disaster after disaster, decade after decade. Drugs are money and all that it buys. We put drug entrepreneurs outside of our then liberal legal framework… so they adapted and operated by the old fashioned rules of Feudalism.
Feudalism is the name we gave to violent gangs far enough in the past that we can romanticize them as Princes, Princesses, Knights and the like. The rules of the Feudal game are simple. You murder your way to the top then you pillage your competitors and steal their land and resources. If you are a mean enough SOB you get to live a life of sybaritic luxury… until someone nastier and smarter and more underhanded comes along and cuts your throat.
Fifteen hundred years ago it came about due to the post-Roman power vacuum. In our era the power vacuum is in a parallel world and economy. It is outside of our laws and nation states, by our own hands, and it exists side by side with us at every point.
Every time we drive up the cost of doing business, the feudal lords of this parallel universe counter predictably. The government of the United States succeeds only in adding to their cost of doing business. You might imagine that would be a big thing… but Statists have probably increased the cost of doing legal business even more over those decades. The more regulation, the more laws, the more taxes, the more individuals will find the ‘other side’ preferable.
Twenty-five years ago US military men stated they wanted nothing to do with the War on Drugs. Getting involved in it would put their institution at risk of bribary and corruption. The moralistic morons in government would have none of it. The military was called upon to run interdictions at sea and in the air to find potential smugglers. They have been countered by minisubs, UAV’s, counter-radar and a whole range of technological counter-measures. Every escalation provides the income necessary for the counter-escalation.
We have arrived at a predictable state of affairs. Feudal lords are now taking over portions of ‘our’ universe in which they hold the balance of power. Border provinces in Mexico are under their control. Military resources are appearing in their hands. Soon their private gangs will morph into real armies. They will bribe American military men and politicians. Where bribery does not work, they will kidnap and kill children and rape wives as object lessons in what happens when you dare to disobey the new royalty.
A time will come when the Mexican National government is absorbed. What do you think is going to happen then? When Mexican Special Forces are carrying out hits against any American who gets in the way of business, things are going to get very, very ugly. There will be calls to invade our southern neighbor and reasonable people will then have to agree there is no other choice. If and when it comes to that, we will have absolutely no one but our leaders to blame. It will be 100% their fault for getting us there.
You can not stop contraband. You can only make smugglers rich and powerful enough to buy you out or kill you.
It will of course not be the end of the Catholic Church, but the pattern of state regulatory encroachment here in what should simply be a criminal matter is unmistakable.
After a priest stole $1.4 million from a church in Darien, state legislators have proposed a law that would regulate how parishes are controlled and operated.
The state’s Catholic bishops rallied opposition from the pulpits at weekend Masses.
The law essentially would strip the dioceses of all financial control of parishes and leave bishops and priests to oversee “matters pertaining exclusively to religious tenets and practices.” A board of elected laypersons would handle parish finances.
Even if “lay control” (and what started with an “elected body of lay persons” would not end there – it is the principle that Church matters are governed by the government that they are after) was established the Roman Catholic Church would continue to operate in peaceful defiance of the government – as it did in France after the government take over (the “separation of Church and State” in the inverted language that is used by these evil people) of 1905.
This is the real reason that Obama and the other liberals are not popular with either conservative Protestants or Jews or with Roman Catholics – whereas FDR was. FDR, however far his economic radicalism went, was a social conservative – government control of churches would not have even occurred to him. The left think they can use scandals, both financial and sexual, to aid their objective of taking over (i.e. destroying) all institutions outside government.
They are mistaken. Even if there is no God – it is the independence of these institutions from government that gives them value in the minds of those who are involved in them. They will be deeply offended in ways the left do not understand.
(via Red State)
Remember that email I got from Tim Evans flagging up this? Well someone called James Tyler responded to it, also sending his reply to all of us on Tim’s list, with a link to this, which I likewise recommend. It’s a piece in Portfolio.com called “The End of Wall Street”, by the guy who wrote Liar’s Poker. I’m still reading the piece, but this is my favourite bit so far, about the observations of a man called Eisner:
More generally, the subprime market tapped a tranche of the American public that did not typically have anything to do with Wall Street. Lenders were making loans to people who, based on their credit ratings, were less creditworthy than 71 percent of the population. Eisman knew some of these people. One day, his housekeeper, a South American woman, told him that she was planning to buy a townhouse in Queens. “The price was absurd, and they were giving her a low-down-payment option-ARM,” says Eisman, who talked her into taking out a conventional fixed-rate mortgage. Next, the baby nurse he’d hired back in 1997 to take care of his newborn twin daughters phoned him. “She was this lovely woman from Jamaica,” he says. “One day she calls me and says she and her sister own five townhouses in Queens. I said, ‘How did that happen?'” It happened because after they bought the first one and its value rose, the lenders came and suggested they refinance and take out $250,000, which they used to buy another one. Then the price of that one rose too, and they repeated the experiment. “By the time they were done,” Eisman says, “they owned five of them, the market was falling, and they couldn’t make any of the payments.”
Paragraphs like that make me optimistic that statists just will not be able to pass the catastrophe off as a mere failure of unregulated capitalism. Yes the whole Sub-Prime thing was aided and abetted by Wall Street, big time. But it was set in motion by Washington politicians, and in particular politicians of the Democrat persuasion. This was, as we cannot repeat too often, a failure of the mixed economy, not of the extreme free market of the sort we here favour.
The folly of the Republicans, which has already been electorally punished, deservedly, was that most of them didn’t see it all coming and panicked when it did, and those that did smell the coffee were unable to do anything to soften the blows when the coffee exploded, or whatever. My guess is that there will soon be a cull of Washington Democrats as soon as the voters next get a culling opportunity – two years from now, right? And the big question is, what will the new intake’s take be on it all? But, as I often say on my personal blog when discussing gadgetry of various kinds beyond my understanding, what do I know?
UPDATE: Although, I’ve now finished reading the piece, and it is clear that its author derives no such anti-statist moral from his wretched story. Wall Street is the villain, and Wall Street is being justly, although very insufficiently, punished. Not a word about Democrats, or for that matter Republicans.
The email I got today about it from Tim Evans of the Libertarian Alliance started “Dear All”, so I don’t know how many other bloggers have already noticed and linked to this. But like Tim, I strongly recommend it, having watched it earlier today. It’s an American banker (who is also a follower of Ayn Rand) talking about the financial crisis, why it happened and what to do about it. The circumstances he describes so confidently, convincingly and knowledgeably are American, but the message of the talk is universal. He uses the word “interesting” a lot, by which he mostly means “disastrous”.
Apologies for not having any time left over from watching it to add any thoughts of my own. But the thing itself is so good that I am sure I will be forgiven for simply recommending this remarkable talk. I daresay some may even prefer this.
Life for me is hectic right now – for all the right reasons – but I wanted to quickly put up this link to an excellent commentary by Dan Mitchell of the Cato Institute, concerning the current US government’s drive against offshore tax havens, especially Switzerland. Governments such as that of the spendthrift US, UK and France are getting desperate for cash, and low-tax regimes which respect client confidentiality make for an easy target.
I can also recommend Dan’s recent book, co-authored with Chris Edwards, as a fine study of the whole case for tax havens and why they are a thoroughly good thing. Whenever you read someone arguing for ending “unfair tax competition”, what they really in fact want is to create a cartel. Most cartels, if not backed by states, tend to disintegrate in time, but are generally thought of as bad. Tax cartels are a prime example of cartels of the worst kind.
“What did you do during the recession, Daddy? I installed solar panels and wind turbines. If only Franklin Roosevelt had thought to put millions of Americans to work during the Depression doing make-work jobs that were gee-whiz futuristic…. Oh, that’s right. He did. And it didn’t work then, either. But this time is different, you know.”
– Nick Gillespie, at Reason’s Hit & Run blog.
Fraser Nelson at the Spectator has an interesting column at the moment about how Britain’s Tories have been influenced by the culture of California, specifically, the northern part of that great state. I think his analysis is fine but I would add some caution, given that the state is, or is about to go, bankrupt. Here is what I wrote in a comment over at the Coffee House blog:
For a while, the political culture of California, both the northern, Silicon Valley/Napa/San Francisco and the southern, Hollywood bit, had been libertarian: or to put it in US politicsspeak: conservative on economics, liberal on social issues.
More recently, as the near-bankruptcy of the state shows, the culture of the state has become socialist. Spending is out of control; the Green movement has stymied developments such as new electrric power plants. Many of its best entrepreneurs are fleeing to nearby Nevada, or further afield. California has an economy the size of France and is exhibiting France-like dirigisme.
I would urge the Tories to draw the right conclusions from this state, not to get too dazzled by the admittedly superb economic success of Google and the tecchies.
One of the things that I liked about northern California when I used to visit a good friend of mine in Steve Jobs’ back yard of Cupertino was that you might be sitting in a bar, drinking a coffee next to some pony-tailed dude in a Grateful Dead T-Shirt, and that the latter would be tapping away on his laptop about his latest round of venture capital funding before heading off down the gun range to fire in his new Glock.
A good historian of California is Kevin Starr. Check this out.
Here is a website that is obviously produced by people very, very angry about what they see as the one-sided coverage of Mr Obama in his recent victorious campaign. You do not have to buy into conspiracy theories to be alarmed at the fawning press coverage that Mr Obama received during the campaign. As for the treatment of the McCain/Palin ticket, while I am certainly no great fan of either, the hysteria over Mrs Palin’s personal life or supposed wing-nuttery over religion seemed totally out of proportion.
In the end, we get the media we do because the underlying philosophical assumptions of the public at large are reflected by it and at the same time, those assumptions are held by the media outlets themselves. It pains me to say it but in many respects, the US is now closer to the social-democratic, corporatist model of Europe than many in the US will want to admit. There will, I hope, be a backlash, but whether that backlash is a particularly libertarian one is not something I am very confident about at this point.
Thanks to fellow contributor Paul Marks to alerting me to this website.
Ever since Ezra Levant came to the attention of Samizdata readers, thanks to a posting by Perry just over a year ago, I have had his blog on my personal blogroll and have occasionally visited there. But I do not read all of it. Sometimes the sheer detail of Canadian politics becomes too much to endure. But this recent posting I did read, right through, with great pleasure. Some political hack called Warren Kinsella, who sounds like a cross between Alastair Campbell and Derek Draper, has sued Levant for defamation, demanding five million dollars. The idea was presumably to make people scared of Kinsella, and maybe it has. But not Levant.
Filing a $5-million lawsuit to try to silence questions about his Adscam involvement probably isn’t Kinsella’s smartest move. I’m not sure why someone who wants to stop people talking about Adscam would create a conversation-starter like a massive lawsuit. And then there’s the prickly matter of Kinsella subjecting himself (and his private documents) to unlimited cross-examination by me – I mean days or weeks, not the brief appearance he made before Justice John Gomery’s Inquiry.
What is Adscam, I wonder? Something that makes Kinsella look bad, presumably. I ask this to show how right Levant is about how this bizarre and way-over-the-top lawsuit causes faraway people like me with no direct interest in any of this to get drawn into the story. Levant is asking for donations. Defending against lawsuits like this, thanks to the internet, can now be paid for by sympathisers.
The bigger picture here, or part of it, is that the political left is losing its grip on the means of political communication, and it does not like it. Time was when people like Kinsella could get up to all kinds of mischief and nobody would say a word. If anyone did complain, the story would be told from Kinsella’s point of view and then forgotten. Thanks to people like Ezra Levant, those days are passing. But Kinsella seems to be having a problem adjusting to this new media reality. It looks to me like Kinsella is really suing Levant for the more elemental crime, if that’s the right phrase, of not grovelling. Levant doesn’t know his place. But Levant does know his place. It is Kinsella who no longer seems to understand his.
The bigger party political picture is that Kinsella risks damaging his political master. This is a certain Michael Ignatieff, known to Brits only as a talking head on late night culture shows on the telly, but now a Big Cheese politician in Canada.
It is the bicentennial of the birth of Abraham Lincoln. I came across this powerfully argued article stating what a great man he was. I strongly recommend it, particularly as it wrestles directly with the accusation, made by some writers in the libertarian camp, that Lincoln was some sort of demon. The author, David Mayer, argues that with some exceptions, the accusations made against Lincoln were and are unjustified.
Update: Well that was a bracing set of mostly hostile responses about Lincoln! A question that I would put to those who claim that the secessionists were justified and Lincoln was a monster is why are some libertarians so willing to give the benefit of the doubt to a group of men who kept slaves and defended the practice? Several commenters argue that slavery was never what the civil war was about, but that is a bit like saying that the English Civil War was never about religion. Plainly it was a factor. Not necessarily as big as the Unionist defenders always claimed, but a factor nonetheless.
The buyers will take possession of this seat April 7, 2009 at 8:00pm and retain custody for 10 years.
Rent seekers and power crazed collectivists from the ruling class, your bids are recorded here.
Small government conservatives and people who believe in personal rights and responsibilities, your bids are recorded here.
Aaaannnnd, (suspenseful pause) as of February 2nd, 2009 the totals are:
Rent seeking collectivists and associated members of the ruling class – $1,068,551
Small government conservatives and supporters of individuals rights and responsibilities – $53,674
I often hear people on this blog and elsewhere say “the voters are idiots, we get what we deserve.” Leaving aside the grating sound of “we”, when the small government conservative is outbid by a 20 to 1 margin, there is no way the message of small government and liberty can be heard. Incidentally, over $20,000 of his $54,000 came from his own pocket. And while your at it, compare Abrahamson’s and Koschnick’s statements of financial interest. I thought the small government conservatives were supposed to be the rich ones.
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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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