What is Missing from Political Debates

With all of this talk of the Financial Meltdown [gasp], how we might deal with Iran [shriek] and [insert additional meaningless political fodder here], I thought I might express my general opinion. Fortunately, this xkcd.com comic makes it relatively easy to articulate:



Maybe you will point to everything that is truly wrong in the world. As for me, I will look at the shape of things relative to human history. And in that light, I say let's head to the pub...

"Behave! or we're moving to Nebraska!"

Alex at MR points to a somewhat amusing, somewhat disturbing case of unintended consequences:

Under a newly implemented law, Nebraska is the only state in the nation to allow parents to leave children of any age at hospitals and request they be taken care of [...] So-called “safe haven laws” in other states were designed to protect babies and infants from parental abandonment.

Hmm. What bad could come of this well-meaning policy? < /sarcasm >

Over the last two weeks, moms or dads have dropped off seven teens at hospitals in the Cornhusker state, indicating they didn’t want to care for them any more.

“They were tired of their parenting role,” according to Todd Landry of Nebraska’s Department of Health and Human Services [...]

Like the road to hell, it seems the road to abandonment is also paved with good intentions. Full story here.

Market Provision

I have always found it interesting how even the most obscure demands are often met by markets. Did you know you can Google in Klingon?

What I am Reading

Lot's of things. Mostly my Micro textbook. And some Tullock articles. But I came across a very funny piece in the LA Times today from Joel Stein. IMHO, he gets the current financial crisis right. Here is a taste:

Do you have credit card debt? Did you buy a house with less than 20% down, or with an adjustable-rate mortgage, assuming that skyrocketing equity would let you refinance or flip it? Of course you didn't, because you're a super-intelligent reader of my column. But don't you think every single Rosa Brooks reader did?

The rest of the article carries this light-hearted tone. But he makes some very good points as well. ATSRTWT.

(Unavoidable) Email Scam

In the spirit of the old Nigerian Letter scam, this fine piece of craftsmanship landed in the inbox today:

SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP

DEAR AMERICAN:

I NEED TO ASK YOU TO SUPPORT AN URGENT SECRET BUSINESS RELATIONSHIP WITH A TRANSFER OF FUNDS OF GREAT MAGNITUDE.

I AM MINISTRY OF THE TREASURY OF THE REPUBLIC OF AMERICA. MY COUNTRY HAS HAD CRISIS THAT HAS CAUSED THE NEED FOR LARGE TRANSFER OF FUNDS OF 800 BILLION DOLLARS US. IF YOU WOULD ASSIST ME IN THIS TRANSFER, IT WOULD BE MOST PROFITABLE TO YOU.

I AM WORKING WITH MR. PHIL GRAM, LOBBYIST FOR UBS, WHO WILL BE MY REPLACEMENT AS MINISTRY OF THE TREASURY IN JANUARY. AS A SENATOR, YOU MAY KNOW HIM AS THE LEADER OF THE AMERICAN BANKING DEREGULATION MOVEMENT IN THE 1990S. THIS TRANSACTIN IS 100% SAFE.

THIS IS A MATTER OF GREAT URGENCY. WE NEED A BLANK CHECK. WE NEED THE FUNDS AS QUICKLY AS POSSIBLE. WE CANNOT DIRECTLY TRANSFER THESE FUNDS IN THE NAMES OF OUR CLOSE FRIENDS BECAUSE WE ARE CONSTANTLY UNDER
SURVEILLANCE. MY FAMILY LAWYER ADVISED ME THAT I SHOULD LOOK FOR A RELIABLE AND TRUSTWORTHY PERSON WHO WILL ACT AS A NEXT OF KIN SO THE FUNDS CAN BE TRANSFERRED.

PLEASE REPLY WITH ALL OF YOUR BANK ACCOUNT, IRA AND COLLEGE FUND ACCOUNT NUMBERS AND THOSE OF YOUR CHILDREN AND GRANDCHILDREN TO WALLSTREETBAILOUT@TREASURY.GOV SO THAT WE MAY TRANSFER YOUR COMMISSION FOR THIS TRANSACTION. AFTER I RECEIVE THAT INFORMATION, I WILL RESPOND WITH DETAILED INFORMATION ABOUT SAFEGUARDS THAT WILL BE USED TO PROTECT THE FUNDS.

YOURS FAITHFULLY MINISTER OF TREASURY PAULSON

At least the Nigerian Letter could be avoided...

[HT: Paul]

Pay Your Taxes (It's patriotic!)

Below is an old cartoon (wartime propaganda, really). If you ask me, it really begs the question by assuming that since paying taxes is the patriotic thing to do, it is also what individuals should do. It seems reasonable to ask whether patriotism should be an individual's primary motivation. I would say no. Others would say yes. But this is where the real disagreement rests.

Now what are you going to do? Spend for the Axis? Or Save for taxes?

Enjoy the video.



[HT: Joe]

Was Milton Friedman an Agorist?

In the fight for freedom over tyranny, Milton Friedman cites two forces on the side of liberty:

Number one is the extraordinary ability and ingenuity of the American people in finding ways to get around laws. That's a major source of strength for freedom. And number two is the inefficiency of government.

Watch the whole video here.

Oh, Charlie

Charlie Rangle makes the news, yet again:

WASHINGTON - Embattled Rep. Charles Rangel's Mercedes-Benz was towed yesterday from the House of Representatives parking space he had been using for years in violation of congressional rules.
[...]
Rangel refused to answer questions about the car, whose registration expired in 2004 and which has sat in the House garage, covered with a tarp and bearing no plates.

The Zinger comes from House GOP leader John Boehner's spokesman, Michael Steel.

The new information about Chairman Rangel taking advantage of taxpayers to illegally store his vintage luxury car is appalling, mostly because it is part of a pattern - a pattern of Chairman Rangel abusing his public position for personal gain

Can you believe that an esteemed Representative would take advantage of taxpayers? ...of course you can.

Spot the Economic Fallacy

Can you spot the economic fallacy on which this (very funny) Onion News Network clip is based (Warning: explicit language, fake news)? The answer is in the comments.


Economists Warn Anti-Bush Merchandise Market Close To Collapse

Happy Hour

Tonight I went to a hookah bar with a friend. She was telling me about her job and how they have a happy hour on Fridays. Can you imagine that? Drinking at work!

Then she told me where she works: Freddie Mac.

I couldn't help but laugh. I guess they could use a few drinks considering the mess they got into.

See here, here, here, here, here, here, and here if you believe that the folks at Freddie are the only ones drinking on the job ("Bail them out? You must be drunk!").