Daily Archives: 28 August 2011

Hurricane strikes our Moscow on the Hudson

Moscow on the Hudson because people are surrounded by impressive monuments and incompetent government.

open quotePraise God that Hurricane Irene didn’t pound New York City nearly as severely as the State and its media threatened it would!

No church this morning: since the City shut down the subways and buses, congregants can’t assemble. Mayor “Nanny” Bloomberg advised us all to sleep late, as if neither the Lord nor His day of worship exist. And yet Christians support the State.

Meanwhile, the storm graphically proved the superiority of freedom and the market: while Our silly Rulers cowered and quavered, bars and restaurants posted placards: “Pre-Hurricane Party! C’mon in!” The tax-supported library didn’t even bother opening yesterday though we enjoyed a fine lunch of shrimp chow fon and chicken with cashews right next door. The City ordered everyone to stay home, and tried to force obedience by pulling the plug on public transit, but workers valiantly struggled to reach their jobs. A friend told me over our chow fon that he’d gone to his office that morning without knowing whether he’d gain access to the building or not: the staff that unlocks its doors might have stayed home since the subways were closing before their shift ended. In fact, when he arrived, not only did the porter admit him, he was on the phone with his replacement, asking whether he should pull a double shift or if the guy would find a way in from Brooklyn to Manhattan. Yep, Mr. Replacement said, he’d be there.

The State: utterly useless. The market: brave, inspiring, dedicated, dependable — and even providing delicious dinners and open offices despite impending rain.close quote (Read more from lewrockwell.com)

No, Paul Krugman, WWII Did Not End The Great Depression

Wow! Can’t believe this is making it into mainstream publications!

open quoteIt’s a recurring fantasy for left wing academics fascinated by central planning that in cyclical downturns government should act decisively on a scale equivalent to war. Nobel Prize recipient Paul Krugman exemplifies this intellectual longing to steer our lives.

Krugman effortlessly slides into a war footing espousing intervention comparable to America’s crusade against Hitler, who, take note, centrally planned an economy himself:

“World War II is the great natural experiment in the effects of large increases in government spending, and as such has always served as an important positive example for those of us who favor an activist approach to a depressed economy.”

After WWII until its glaring failures manifest in the Seventies, Keynesianism inundated economic thought. Paul Samuelson’s textbooks became mainstays across the academy. Samuelson championed mathematical analysis, which transformed macroeconomics into a pseudo science spawning waves of budding planners infatuated with statistics.

From this basis the myth prevails that WWII finally overcame the Great Depression. History has revised Hoover, easily the most meddlesome peacetime president before FDR, into a laissez-faire reactionary. The New Deal – a disastrous example of everything not to do during downturns became beneficial, only it supposedly wasn’t aggressive enough.close quote (Read more from forbes.com)