Saturday, October 22, 2011

Cain stumbling under glare of national spotlight - Yahoo! News

"Fresh" Pizza in TorontoImage by pbeens via Flickr
Cain stumbling under glare of national spotlight - Yahoo! News

Don't worry. A man running for president is only joking about killing people. ha ha. what a kidder.

Here's a clue about telling jokes, Mr. Cain. First, don't joke about death, especially the death of the downtrodden.

Second, if you are telling a joke, pay attention to whether people laugh or not. If not, let them know you were telling a joke.

Third, don't lie about your non-jokes way after the fact and expect me to believe you.

Here's to the Crazy Ones

A lot of people think that fans of liberty are a bit whacked.

There's nothing crazy about wanting people to interact with each other peacefully.

That's all liberty is.

The actually crazy ones are those who think only force can solve problems.  Lets hope they emerge from their psychosis soon.

Any truly great idea must struggle to gain acceptance.  There has never been a better time to return to the great ideas on which this country was founded.

Banking Isn't the Problem

Reaction to Irish banking and financial crises...Image via Wikipedia
There's nothing inherently faulty with people lending their money to others or with an intermediary taking part of the action for arranging things.

Most of the recent problems with banking have a different root cause, namely that the government relieves you of all responsibility for choosing wisely who you lend your money too.

Your savings are insured. But unlike rational insurance, risky banks are insured at the same cost as prudent banks. That doesn't exactly give banks useful feedback about the risks they are taking.

On top of that, the government also implicitly guarantees to these banks that they'll never let them go out of business. So they can take all kinds of risk and only suffer when they don't take enough high-paying risks.

And, over time, those in charge of this insurance take money for gradually loosening standards for what they insure. Yes, Congress is actually corrupt. Sorry to break it to you.

Oh, sure, Congress clamps down on the banks AFTER bad practices lead to disaster. But then, slowly and inexorably, time and lobbyist cash gradually get Congress to loosen standards.

The public, who didn't truly understand the causes of the previous disaster, has forgotten about what happened, the political pressure dissipates and Congress returns to subsidizing unreasonable risks.

But don't worry: you're insured. Unfortunately, unlike any other insurance you've ever bought, behind the scenes, the actual costs are being billed to you. You'll be forced to pay higher taxes in the future to clean up the very disaster the government supposedly protected you from.