Combs Spouts Off

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Archive for June 18th, 2010

No road map and no destination

Posted by Richard on June 18, 2010

I only half-listened to the President's Oval Office address the other night, so I decided to take a look at the transcript and see if it still seemed as vacuous. A passage near the end that hadn't really registered while listening jumped out at me (emphasis added):

what has defined us as a nation since our founding is the capacity to shape our destiny — our determination to fight for the America we want for our children. Even if we're unsure exactly what that looks like. Even if we don't yet know precisely how we're going to get there. We know we'll get there.

Um, wow. Did the guy driving the car really brag that he doesn't have a road map, doesn't know the destination, and won't be able to tell when we've arrived, but he's going to put the pedal to the metal anyway? Did he really think such inane blather would make us nod in agreement, swoon, or feel a tingle up our legs?

Well, first of all, I don't believe him. I think he knows exactly where he's driving the Car of State (to stick with that metaphor). He just thinks it's best not to reveal his destination to all us yahoos in flyover country because we might not like the idea of becoming a second-rate sclerotic socialist country. 

Secondly, that quote couldn't help but remind me of this oldie-but-goodie: "Why are we in this hand-basket, and where are we going?"

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Shattering the myth of the New Deal

Posted by Richard on June 18, 2010

Dr. Thomas Sowell:

Sometimes you can read a book that will change your mind on some fundamental issue.

Rarely, however, is there just one page that can undermine or destroy a widely held belief. But there is such a page — Page 77 of the book "Out of Work" by Richard Vedder and Lowell Gallaway.

The widespread belief is that government intervention is the key to getting the country out of a serious economic downturn.

Read. The. Whole. Thing. The page to which Sowell refers contains a table of month-by-month unemployment rates for the 1930s. As Sowell explains, that table irrefutably demonstrates that it was massive government intervention in the market, first under Hoover and then under Roosevelt, that aborted the recovery after the 1929 market crash and led to a decade of double-digit unemployment. 

"Those who cannot remember the past are condemned to repeat it."
— George Santayana, The Life of Reason

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