Rush Limbaugh discussed the concept of the “New Normal” on his radio show yesterday. He was pretty much on target: the “New Normal” is considered by many to be some inevitability, for which the Obama government is not responsible. I discuss the concept at length in my upcoming book Common-Law Investing. What I try to…Continue Reading “The New Normal”

I haven’t been posting much lately, and there’s a reason. I’ve been busy writing a new book. And it’s ready for the reading public. The title is Common Law & Natural Rights: The Question of Conservative Foundations, and it is an examination of natural rights as the foundation for conservatism, as opposed to the common…Continue Reading “New Book: Common Law & Natural Rights”

are lukewarm at best. Today’s Wall Street Journal op-ed (“The Geithner Asset Play“) raises the appropriate objections. The goal of the plan, which is to rid banks’ balance sheets of unmarketable assets, really is something that has to be done if credit relations are to be restored. But it seems that Geithner wishes to accomplish…Continue Reading “Responses to the Geithner Plan…”

The recently announced Fed action has been characterized as a massive exercise in printing money, in “pumping liquidity“. But such characterizations, once again, are misleading. Take a Wall Street Journal article from March 19th, 2009, by John Hilsenrath. In “Fed in Bond-Buying Binge to Spur Growth” he wrote, The Fed had already cut its benchmark…Continue Reading “What the Fed is Up To”

The solution to the toxic asset problem, and the credit crisis, may well be the one propounded by Holman W. Jenkins in his Wall Street Journal column of March 18 2009: “Needed: A Bailout That Doesn’t Look Like One.” The root of the crisis is bad assets (securitized subprime loans) on banks’ balance sheets. Mr….Continue Reading “And We Have a Winner”