I propose calling the Trillion Dollar Coin a ‘Gresham.’

    Mostly because calling it a ‘friedman’ is just a bit too obscure to be proper black humor; calling it a ‘keynes’ actually maligns a guy who would be freaking out over what Obama’s done to his economic policy*; and calling it a ‘fiat’ will cause people to confuse it with the car**. Anyway, basic details here (H/T Jim Geraghty): if you’re not familiar with what’s | Read More »

    Honey Boo-Boo, All My Babies’ Mamas and the Debt Ceiling

    Have you ever just watched an episode of “Here Comes Honey Boo-Boo” and realized that every character therein would be infinitely more valuable fulfilling a different role in the carbon cycle? Wanna’ know what really makes this show kinda’ sorta’ sick? The fact that we all pay to subsidize this behavior each time we shop at the grocery store or pay our taxes. The fact that the longer we subsidize these people, the more these sort of people will become the future of America.

    Then it hits you like this season’s vaccine-resistant influenza bug. This sort of pervasion of nature takes effort and ingenuity. Honey Boo-Boo’s continued parasitic existence is your tax dollars hard at work. This program gives us a nice, naturalistic, smell-the-runny-bastard-poop view of what we win if we raise our debt ceiling high enough and allow our federal government to do whatever the heck it pleases with money that currently doesn’t even exist. Let Dom Pardo show the Redstate viewers what they win if the debt ceiling raises.

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    The absolutely EXPECTED small business fallout from Obamacare.

    It would appear that many small business owners have noticed that the new rules for providing mandatory health insurance coverage have some significant loopholes: to wit, that they only apply to companies that employ fifty or more full time employers (which is to say, people who work for thirty or more hours a week). The answer to handling the situation then becomes fairly obvious. And | Read More »

    The Coming of the Perpetual Milk Cliff

    Only in Washington could they concoct a scheme in which we are forced to increase spending on market-distorting subsidy programs lest we suffer the pain of further market distortions through government price controls.  Yet, that is the case with the so-called dairy cliff that would have been crossed had Congress not passed an extension of the current farm bill. Last year, conservatives successfully blocked the | Read More »

    Obama Has His Revenue. Time for Republicans to Step Up or Get Out.

    Obama Has His Revenue.  Time for Republicans to Step Up or Get Out.

    Most of my morning has been spent listening to the two camps on twitter and in the news. Half say we got a bad deal in the Fiscal Cliff debate. The other half say we got the best we could and should be happy with the concessions we extracted from the Democrats. From the beginning, this negotiation has been a mess. Every day we were | Read More »

    The Fork In The Road Which Lead Us To The Fiscal Cliff

    The Fiscal Cliff is a problem. We typically blame people not named us when problems occur. It’s easier and less painful than solving the problem. Here the problem is that the current US President and Congress (The US Senate in particular)* have both spectacularly failed in their management of the national fisc.

    If we decided to solve America’s fiscal issues, it wouldn’t hurt to mine some historical data. Since 1950, the United States Government has averaged expenditures proportional to 19.61% of the same year GDP with a standard deviation of 2.25%. Our government has booked revenues equivalent to 17.65% of same year GDP with a standard deviation of 1.26%. If both events occurred at random, we’d have a 6.07% chance of a Federal Budget actually balancing if the spending and the revenues were determined at random.** This would suggest that we’ve set up a systemic and nasty spending problem despite pious insistence otherwise.

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    Steven Chu to leave Department of Energy?

    Interesting. Secretary of Energy Steven Chu may be leaving the post during the next term of the Obama administration. Among those on the list to replace Chu are Ritter; Tom Steyer, a Democrat from California; former North Dakota Sen. Byron Dorgan; Susan Tierney, a former assistant energy secretary; and Steve Westley, a California businessman, according to The Washington Post. More at Hot Air, which notes | Read More »

    Fiscal Cliffs and Cocoa Puffs

    In the old days, economic crises were organic events that reflected popular greed, economic instability and tangible fear. Speculative bubbles burst, bank depositors panicked and stock markets (and stockbrokers) plunged. No more. We have grown too sophisticated for all that.

    Our economy has reached a degree of complexity that its crises must be planned, packaged and marketed just like Cocoa Puffs.

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    Welcome to QE4!

    Welcome to QE4!

    The actions of the Federal Reserve over the past 4 years exemplify insanity more than anything else in politics.  They continue implementing one monetary stimulus policy after another in an attempt to jumpstart the economy, even though they keep failing in that goal.  We had QE1,2,3 and Operations Twist 1 and 2.  Now the Fed’s Open Market Committee has announced a new monetary stimulus package | Read More »

    Breaking: Union thug violence towards right-to-work supporters in Michigan.

    Charming: Unions tore down AFP tent at MI capitol, with elderly trapped underneath, while chanting “This is what democracy looks like.” #thankaunion! — Adam Nicholson (@acnicholson) December 11, 2012 Here’s a picture of the former tent in question. The AFP tent in ribbons after an attack by a union thug. twitter.com/AdamGabbatt/st… #righttowork — Emily Zanotti (@emzanotti) December 11, 2012 Moral of the story, besides the | Read More »

    Detroit, Michigan – America’s Ghost of Christmas Future

    Detroit, Michigan shows us the ruins of a once-great civilization. It does us an even better favor than that. It shows us these ruins as a precautionary warning – while our civilization actually embarks upon collapse. You can view the very artistic now vs. then photos of Cass Technical High School, and see the crash that awaits the rest of America if we continue to believe in impossible things.

    This crash will certainly take place, and Detroit’s future will certainly become yours if you remain foolish enough to believe in Government Claus. Libertarian Author James Payne explains the foolish fallacy of Government Claus below.

    (HT:Reason.com)

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    VIDEO: Ed Asner – Truth or Truther?

    If you’re still one of the few left wondering why California is such a fiscal disaster, it may be in part because they spend their money on videos like this.  Tax The Rich: An Animated Fairy Tale is the newest attempt by the left to blame every problem in America on the wealthy.  The video is paid for by the California Federation of Teachers, which | Read More »

    Democrats poised to raise taxes… on their own voters.

    Let me sum up this New Geography article (via Instapundit): Top states with most $250K households: California, Connecticut, Hawaii, Maryland, Massachusetts, New Jersey, New York, Virginia, Washington DC. Top metro areas with most $250K households: Atlanta, Los Angeles, New York City, San Francisco, San Jose, Washington DC. States with highest average housing values / mortgages: California, Connecticut, Hawaii, New York, Washington DC. Metro areas with | Read More »

    Bob Shrum ignorantly and incorrectly lectures Senator Ron Johnson.

    Here’s a pro-tip* for Bob Shrum: if you’re going to try to marginalize and mock a US Senator (to the point of calling him “buddy”), make sure that you have the right info first.

    Implosion!

    Events get driven by something. The motive power behind what happens in policy and politics can often lie hidden like the mass of an iceberg underneath the sea. Those who bother wondering why President Obama refuses to compromise on anything in order to avoid the “Fiscal Cliff” theorize two primary things. Barack Obama plays the PR angle to make Rethuglicans appear as the political subsumed class* of lackeys to the E-Vil Rich. Others assume he’s Richard Roundtree** and he’s sticking it to the man.

    Both of these conjectures see only the tip of the iceberg. There are two possible errors in assuming either explains our President’s behavior in total. The first mistake is to assume that Barack Obama completely drives this train. The second is to assume that he reacts totally based on his ideological battles against Conservatism. Assuming a bond fealty between Barack Obama and his committed core of followers causes me to realize that President Obama (and much of the rest of the professional left in America) has strapped himself in for a ride on the tiger. He’s driving the bus from the movie “Speed.”

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