Category Archives: Economics

Just A Coincidence, I’m Sure

Stimulating:

Since the beginning of the recession (roughly January 2008), some 7.9 million jobs were lost in the private sector while 590,000 jobs were gained in the public one. And since the passage of the stimulus bill (February 2009), over 2.6 million private jobs were lost, but the government workforce grew by 400,000.

I think it’s exactly what they wanted to happen. Have to keep those public union people employed so they can keep providing the campaign cash. Especially when they can pass laws to shut down the opposition.

The Gulf Economy Is Saved

At least temporarily. A federal judge has struck down the idiotic and mendacious drilling moratorium.

My prediction: the lamestream media and the administration will attempt to make hay out of the fact that Judge Feldman is a Reagan appointee. I expect them to appeal, unfortunately. But at least the ban is lifted for now, or will be in thirty days.

[Update a few minutes later]

They’ve already said they’re going to appeal. But I don’t think they can get it reinstated until they win the appeal, if they do (and I suspect they won’t). I wonder if they’ll try to get the appellate court to take it as an emergency case? No, I don’t really. You know they will.

Great Schemes Don’t Work

Some thoughts on the impending collapse of the euro, and how much the UK may end up on the hook regardless of the fact that they kept sterling. I found this part interesting, though:

Again and again in politics, great schemes don’t work – Soviet Communism, for example, and now the euro. Rational people tend to conclude that, because a scheme doesn’t work, it will quickly stop. Unfortunately, rational people are wrong. Bad political schemes are usually given up only when they have been tested literally to destruction. It would be much better for Europe if the euro had never happened, and I long for it somehow to fade away, but the process of destruction will be horrendous, and it is only just beginning.

I think that we were seeing the same thing with Constellation and NASA’s five- and ten-year plans. Interestingly, the Founders didn’t have a great scheme, because they understood that they don’t work. That’s why they wrote a constitution of limited government. Unfortunately, the great schemers have managed to circumvent it over the past two and a third centuries. Their great scheme is on the verge of collapse, as well, and as usual, all will pay, guilty and innocent alike.