I’ve occasionally posted videos from the Center for Freedom and Prosperity, an ally or affiliate of the libertarian Cato Institute, that touch on aspects of economics and why government intervention in the free market often causes more problems than it solves. In this offering, the speaker discusses “moral hazard,” in which government interventions provide incentives for people to engage in irresponsible behavior:
I’m paraphrasing in the subject line, but that’s the gist of what Pat Caddell, a liberal and former pollster for President Carter, had to say about the Democrats’ chances in the midterm elections. And that isn’t all he said, ripping into his party for elitism and arrogance. He even went so far as to describe the situation in the United States as “pre-revolutionary.” Now, I think that’s a bit overwrought, but he makes several good points. Listen for yourself:
Sharron Angle‘s campaign to unseat Harry Reid in Nevada has stumbled badly in the first few weeks since she won the Republican nomination, making what should have been a runaway victory over the unpopular Senate Majority Leader a tight race, instead, with Harry enjoying a small lead.
Via Cubachi, here’s a good video that explains why government spending in the face of a crisis, such as war or economic panic, while perhaps necessary, is not the wealth-creator that Keynesian economists claim it is:
What is it with Democrat politicians, lately? They’re not even trying to pretend they’re public servants anymore; challenge them, and you get some variant of “How dare you, peasant?” A few weeks ago it was Representative Bob Etheridge (D-NC) taking offense at a young man who dared to ask him a question; Etheridge assaulted him in return. Then there was Texas Democrat Ciro Rodriguez, who was so angry at being challenged by a constituent that he smacked a newspaper on the table. (Was he going to swat her on the nose for being a bad doggy, next?) Here in California, our Democrat-dominated palace of the mandarins legislature is trying to slip past the voters a ballot measure that would reclaim for the legislature power the voters took from it just two years ago. Time and again, when talking about citizens expressing their grievances at tea parties or directly to them at town-hall meetings, Democrat politicians have revealed utter contempt for the voters.
President Obama’s hometown of Chicago has a problem: a declining clearance rate for violent crime has lead to an increase in crimes such as robbery and murder, which is further fed by declining morale in an underfunded, undermanned police department. The situation is so bad, even the cops themselves are being gunned down in the streets:
