The Coming Solar Panel Bailout

Why a solar panel bailout? Because a solar panel bubble will cause a solar panel bust. Directly funding private corporations isn’t always possible in the United States. It looks like you are taxing the poor to build up the rich. That is because, when you give corporate welfare, you are taxing the poor to build up the rich. So what do you do? You come up with a relatively cheap way to “stimulate” the industry and then, when the inevitable collapse takes place, you portray the situation Read more […]

No Fear of God among Bankers and Politicians

When the fear of God departs, you’d better be ready for the consequences. Western elites from Washington, DC, to New York, to London and Brussels have made sport of lawlessness in recent years, and because general and economic education has been so dumbed down, most citizens have no clue how much those in power have robbed us in the guise of “rescuing” us. As Jeremy Warner writes for the Telegraph: Like common brigands, central banks have been acting outside the law… by driving up the value Read more […]

The Question of Authority, It Won’t Go Away

Former Obama Treasury Secretary Timothy Geithner recently told host John Stewart on “The Daily Show” (on the Comedy Channel) that the big banks had to be bailed out because, in his words, it was “the only option, the only responsible, just, moral thing to do.” His reasoning went like this: Obama, Geithner and Company had to protect people from mass unemployment which, he said, is what happens in a financial panic “unless the government steps in and makes sure they try to keep Read more […]

Iceland’s Political-Economy: The Good, The Ugly, & The Inconsistent

This is a mixture of the good and the ugly, and a powerful example of the inconsistencies of men. From Bloomberg: “Let Banks Fail Is Iceland Mantra as 2% Joblessness in Sight.” Iceland let its banks fail in 2008 because they proved too big to save. Now, the island is finding crisis-management decisions made half a decade ago have put it on a trajectory that’s turned 2 percent unemployment into a realistic goal. While the euro area grapples with record joblessness, led by more than 25 Read more […]

Are Dems Going To Defend The Insurance Bailout? Will Republicans Really Fight It?

We pointed out on December 4 that bailouts are embedded in the Affordable Care Act. Later, Charles Krauthammer confirmed the plan. Now the Weekly Standard reports: Robert Laszewski—a prominent consultant to health insurance companies—recently wrote in a remarkably candid blog post that, while Obamacare is almost certain to cause insurance costs to skyrocket even higher than it already has, “insurers won’t be losing a lot of sleep over it.”  How can this be?  Because insurance companies Read more […]

Are Cities The Next Federal Bailout? Why All Public Debt Is Immoral

Megan McArdle asks, “Should We Bail Out Cities.” I am not posting about this to commend her answer (though she is right). I’m posting about it because she felt the need to address the issue. It’s going to happen. In the latest City Journal, Steve Malanga writes about an issue that hasn’t yet gotten a lot of attention but is virtually guaranteed to become a serious topic of national debate in the not-so-distant future: Do we bail out cities that have become insolvent? Let that sink Read more […]

FlEA Party v. Banksters; We’ve Been FLEECED ENOUGH ALREADY

Overpaid banking executives need to keep the pay coming in, so… now they’re saying not only won’t you earn any interest on what you deposit, but… they’ll very possibly start charging you to keep your money. Executives at two of the top five US banks said a cut in the 0.25 per cent rate of interest on the $2.4tn in reserves they hold at the Fed would lead them to pass on the cost to depositors. Banks say they may have to charge because taking in deposits is not free: they have to pay premiums Read more […]

Marco Rubio Displays Wooden Spike For Heart Of Obamacare

I have already mentioned how it looks like Obamacare is putting health insurance companies at insane risk. While the companies are obviously hoping they will win big in the move (which is why I don’t have much pity for them) the possible downside looks really bad. But what I didn’t realize (or remember) is that the Affordable Care Act itself acknowledges that the insurance companies might lose big. According to the American Thinker blog, President Obama’s “fix” for those with cancelled policies Read more […]

American Taxpayer Money To Foreign Electric Carmakers

Back when GM needed to be bailed out, it was considered unthinkable that America would not have its own car companies. The big three auto makers were given the status of the Statue of Liberty or the Jefferson Memorial. When Romney was running his alleged opposition to the bailout was used against him. So how can we go from bailing out American automakers to giving more taxpayer money to their foreign competitors? That is exactly what the Detroit News reveals that our government is doing, though Read more […]

Reporting the Obvious as “News”-Greece Is Not Bailed Out

Associated Press reported Sunday that European Central Bank Executive Board member Joerg Asmussen publicly admitted that the ECB, the World Bank, the IMF, and all sorts of other establishment bureaucrats have been lying about Greek debt in order to defraud the public. There is, in fact, no way to really bail out Greece, he now admits. In 2014 we will need a fresh supply of bailouts for 2015 and beyond. Ha ha. Just kidding. That didn’t happen. Or it did happen, but without being admitted. Read more […]