UPDATE IV: A National Reviewnik Thinks He’s "Contrarian"

Debt, Inflation, Journalism, Media, Neoconservatism, Paleoconservatism, Pseudo-intellectualism, Republicans

He’s trillions of dollars and a decade too late, but Kevin D. Williamson of National Review can assure himself he’s “contrarian” for advocating an about face in the Federal Reserve Bank’s fiddling.

Williamson may be reading Austrian economics. By that I mean the reality based thinking of Ludwig von Mises (taught at the Mises Institute); preached by Ron Paul (whom the neoconery mocked during the Bush years), practiced by financier Peter Schiff, written about by Tom Woods in Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse; as well as by Vox Day, and in this writer’s columns and blogs over the past decade.

Being of the establishment, however, Williamson can just put his hands over his ears and tell himself over and over again “I’m contrarian,” and this will be so.

“So here’s a contrarian take,” Williamson assures himself: “The Fed should stop trying to drive down interest rates. It should instead work to raise them. Why? Our economy needs savings and investment. …”

As I said, trillions of dollars and a decades too later … (“PUNDITS, HEAL THYSELVES!”)

Your host, writing in “Those Invisible Jobs,” did not anoint herself a “contrarian” for advocating that Fed supremo Ben Bernanke raise interest rates.” Not then, and not in 2000 (“The Central Bank’s Game is the Same, Whoever’s the Name”), and on all those occasions in-between.

Why? Because in the Austrian community, represented by some very prominent people, this is common wisdom.

Bloody annoying…

UPDATE I: I’ll be honest: it’s hard to know from Mr. Williamson’s wishy-washy articles exactly where he stands on matters of political philosophy (or if he is a neoconservative or not). However, this post’s point was pretty clear. It expressed annoyance that someone can call himself contrarian for proposing less quantitative easing. Granted, it’s a prickly post, but Mr. Williamson can understand, surely, why writers like myself get a tad testy? We’ve been marginalized for being right on foreign policy and fiscal matters our entire careers, such as they are. Then, when the rest catch up with us, a decade down the line, they pretend that truth began with them.

If I’ve learned anything about the American Mind it is this: Truth doesn’t exist until someone in the establishment pronounces it, usually a decade or so after it has been in circulation. I guess, better late than never, but why not acknowledge those who went before?

I saw Mr. Williamson go up against one or the other left-liberals on TV, and I remember thinking: much better than Rich. Still, I do not believe there is a sufficient amount of information to conclude that “better than Rich” is a meaningful statement.

Mr. Williamson is young (and presentable). He has plenty of time to correct any mistaken impressions I might have formed, not least of which is his sharing that horrible habit common among the Republican establishment of never admitting to being Johnny-come-latelies on Iraq, Bush, economy, QE, etc.

UPDATE II: Mr. Glisson, first, why don’t you provide hyperlinks and particular quotes in substantiation of your position that Mr. Williamson is never a neoconservative? Second, why misconstrue the point of this writer’s post, encapsulated again in the last two sentences of “UPDATE I”? Moreover, from a parenthetic statement about the neoconservatives’ attitude toward Ron Paul, Mr. Williamson concluded that I had called him a neoconservative. You do the same, for some reason.

Again, Mr. Williamson is better than Rich; way better. I am still unsure as to what kind of badge of honor this really is; or if Mr. Williamson is or is not a neoconservative. Isn’t that a condition of employment at National Review? John Derbyshire is NRO’s only paleoconservative (sort of). I’d love to see John thrust into the spotlight, but they keep him in the basement, so to speak.

UPDATE III (Oct. 17): We thank Kevin D. Williamson for responding to the intrigue he has generated on Barely A Blog. He remains a man of mystery, and that is not half bad. In the age of too much information (and letting it all hang loose), mystery is a good thing. We agree that Mr. Williamson ain’t Rich. Has Rich employed a non-neoconservative in the hope of generating some oscillation in the static National Review? Or because the readership has little patience with that old guard? Who knows? We also understand that a man has to make a living. To do so, he must often walk an ideological tightrope.

Nevertheless, those who went before—and remain permanently frozen out of mainstream—deserve mention. It gets terribly cold out here. Mr. Glisson seems to think I’m some kind of intellectual missionary, spreading the good word, pleased to turn the other cheek just so long as the new guard can adopt the gospel, even if they falsely pretend to be pioneers.

Rubbish. Nonsense on stilts. I’m all about justice. Intellectual justice included.

UPDATE IV (3/5/2016):

“NRO Writer’s ‘UnFollow’ Leads To Musing About The Manners-Morals Connection.”

UPDATED: A Vote For Chile’s President

America, Barack Obama, Bush, Free Markets, Government, Media, Technology, Trade

The following is from “A Vote For Chile’s President,” my latest WND column:

“President Barack Obama took to the podium well before President Sebastian Piñera did. Chile’s president bided his time patiently with the group of rescue workers in hard hats, until all 33 miners had surfaced from deep within the San José copper-gold mine, in northern Chile, where they had been entombed for 69 days.

If not for the translator’s running commentary, I would not have guessed that the man with a beaming smile—so different from Obama’s gleam of dentition and Bush’s demented grin—last in-line to meet and greet the miners who ascended from hell, was no other than Chile’s president. Sebastian Piñera wife, first lady Cecilia Morel, was equally low-key, fading into the background and ceding to the heroes of the unfolding drama.

The images transmitted from Camp Esperanz showed no swat teams, personal body guards, or retinues of handlers and props—the sort of ‘presidential comitatus’ that accompanies the head of the American hyperpower everywhere.

At ‘Camp Hope,’ the pensive group of rescuers and their president looked like a band of brothers. The media scrum did nothing to shatter what was almost a religious atmosphere. All present—mining men, the rescued and the rescuers, and their families—seemed oblivious to the din from the outside world. Nobody appeared star-struck; few were playing to the cameras. All present had eyes for one another alone. Expressions of joy were all the more poignant because so dignified. There was no slobbering, no Geraldo-Rivera hyperbole.” …

The compete column, now on WND.COM, is “A Vote For Chile’s President.”

Next week I hope to introduce you to the work of a dear friend, Professor Dennis O’Keeffe, who has just written a gem of a book about Edmund Burke. My conversation with Dennis will be the first of a two-part interview. You’ll enjoy it.

And do read my libertarian manifesto, Broad Sides: One Woman’s Clash With A Corrupt Society.

The Second Edition features bonus material and reviews. Get your copy (or copies) now!

UPDATE (Oct. 16): Star Parker in “What Chile can teach America about freedom”:

But back just a little less than 40 years ago, Chile was a typical, poor South American nation, with intrusive government and sluggish growth.
How was it transformed?
Read a short essay called “How the Power of Ideas Can Transform a Country,” by one of the leaders that made it happen – Jose Pinera.
He relates how, in the mid-1950s, the Catholic University of Chile signed a cooperation agreement with the Department of Economics of the University of Chicago, then home to the world’s top free-market economists, including the legendary Milton Friedman.
Milton Friedman’s classic “Capitalism and Freedom” explains how individual liberty can only thrive when accompanied by economic liberty
Thus began the education of a generation of young Chileans in the wisdom of economic freedom.
Beginning in the late 1970s, these young leaders, with newly minted Ph.D.s, helped implement new economic reforms in Chile protecting private property and promoting free trade.
A graph showing annual economic growth in Chile over the last hundred years looks like a hockey stick. From the early part of the twentieth century until 1980, the line is flat, averaging less than 1 percent growth per year. But beginning 1980, growth takes off in a vertical surge, averaging over 4 percent per year.

QE2: That Ship Has Sailed

Debt, Economy, Federal Reserve Bank, Inflation, The State

I’m not talking about “The Queen Elizabeth 2” cruise ship, but of “‘Quantitative Easing,’ which is state-speak for the government’s monkeying with the money supply.” That ship has indeed sailed a long time ago. At the end of September, we reported here on a $1 trillion Fed infusion of paper into our hot-air balloon of an economy.

How many pinpricks away from runaway hyperinflation are we?

Now you know why a stock market rally does not a recovery predict. In fact, stocks will be buoyed after a funny-money injection. “But as usual,” concedes Larry Kudlow, ignored are “the plunging dollar and soaring commodity prices, which will lead to an inflation tax on consumers and businesses, something that is not good for profits or economic growth.”

UPDATED: Healthcare Under The Hammer

Government, Healthcare, Law, Regulation, The State

The judicial, legislative, and executive are in an unholy alliance that has long since sundered the 10th Amendment, namely constitutional individual and states’ rights. As we wait on the tyrannical federal trinity to issue decrees in response to the challenge to Obamacare launched by “20 different lawsuits with 21 different states as plaintiffs,” TIMES-DISPATCH COLUMNIST A. BARTON HINKLE provides valuable background analysis.

How Will the Court Rule in Mandate Case?
By A. BARTON HINKLE

Predicting how the Supreme Court will rule in a given case is often a sketchy business. The court doesn’t break down neatly along liberal/conservative, or big-government/small-government, lines. For every Heller or Citizens United infuriating the left, there’s a Kelo or Raich to send steam billowing out of conservatives’ ears.

So there’s no telling how the Supremes might come down on the question of whether Obamacare’s individual mandate is constitutional. Now that a federal judge has refused to dismiss Attorney General Ken Cuccinelli’s suit against it, proponents of the Patient Protection and Affordable Care Act will have to argue the case on the merits.
That might not be as easy as some have assumed. This becomes clear from an amicus brief submitted by Ilya Somin — a law professor at George Mason — along with the Washington Legal Foundation and assorted other law profs from around the country.

Somin notes that, as Madison said, the Constitution does not grant Congress “an indefinite supremacy over all persons and things.” Rather, it lists a finite set of federal powers — and forcing people to buy consumer goods is not one of them.

True, the federal government does many other things the Constitution does not explicitly mention, and the power to do them is taken to be implied. So proponents of the individual mandate hang their hat on a couple of different hooks.

One is the Commerce Clause, granting a congressional power to regulate interstate commerce. The Supreme Court has broken down the Commerce Clause into three parts: regulating the channels of interstate commerce, the instrumentalities of commerce, and the “activities” that “substantially affect” interstate commerce. But, Somin writes, “an individual’s mere status as uninsured is neither an instrumentality of interstate commerce, such as a road or airport, nor . . . is being uninsured a person or thing that travels in interstate commerce.” And it is absurd to claim that inactivity constitutes activity.

To see why, Somin goes back to the decision in Gonzales v. Raich, in which the court ruled that growing marijuana for personal medical use — an activity that is neither commerce nor interstate — could be forbidden under the Interstate Commerce Clause. The Supreme Court ruled that Congress had broad authority under the clause to regulate even “noneconomic activity.”

But unlike growing marijuana, not purchasing health insurance is not even an activity, and it is fatuous to pretend otherwise. The Commerce Clause gives Congress the power to regulate transactions between Jim and Bob. It doesn’t give Congress the power to force Fred, who had been resting under a tree, to join Jim and Bob’s exchange.

If Congress has the power to do that, Somin writes, then “the federal government would have the power to force citizens to engage in any activity that might conceivably affect commerce is some way.” Big-government liberals might be perfectly fine with that. But, Somin says, “this is precisely the kind of unconstrained power that the court has expressly rejected.”

At this point, Obamacare advocates usually interrupt with the emergency-room argument. It goes like this: “Well, people who don’t have insurance end up needing medical care, and hospitals are required by law to treat them, and that imposes costs on everybody else. What are you going to do — let hospitals throw patients into the street?”

This is a fine rhetorical device and an interesting ethical question, despite some factual weaknesses (not everybody requires medical care they can’t pay for out of pocket; millions of healthy young adults don’t need insurance). But it is not a constitutional argument. A hospital’s legal obligations don’t confer powers on Congress. Banks have lending obligations. That doesn’t mean Congress can force you to open a checking account.

On Thursday, a federal judge in Michigan tested another argument: The failure to buy insurance qualifies activity because “by choosing to forgo insurance plaintiffs are making an economic decision to try to pay for health care services later.” The same reasoning, however, would deny conscientious objectors the right to avoid military service, because by choosing to forgo participation in a war, they are forcing someone else to go in their place.

The amicus brief makes quick work of the notion that the penalty for not buying insurance is a tax. It’s not an income tax, it’s not an excise tax, so it must be a direct tax — which must be apportioned among the states — or, as seems patently obvious, it’s a penalty. But Congress can’t impose a penalty to enforce regulation of something it has no authority to regulate in the first place.
Finally, the mandate’s proponents say it’s authorized by the Necessary and Proper Clause, because it’s necessary to impose the requirement that insurance companies accept all comers regardless of pre-existing conditions. (Why? Because without the mandate, people wouldn’t buy insurance until they got sick.) This might be the strongest argument for the mandate. But it still faces a couple of problems.

First, the individual mandate tries to achieve something by taking an extremely broad step when a more narrowly tailored one would suffice. As Paul Starr wrote in the liberal American Prospect last year, Congress could address the adverse-selection problem by giving individuals “a right to opt out of the mandate if they signed a form agreeing that they could not opt in for the following five years . . . .For five years they would become ineligible for federal subsidies for health insurance and, if they did buy coverage, no insurer would have to cover a pre-existing condition of theirs.” Strictly speaking, the mandate is not necessary.

Second, if the court concludes that the mandate is justified because it is, after all, “rationally related” to insurancee regulation, then the justices would open the door (as they did in Kelo) to governmental sophistry: As long as legislators claim a new power being sought has some tenuous connection to an existing power, then the courts can never say no. This would allow lawmakers to assume an indefinite supremacy over persons and things, by stacking new powers one atop the other.

Liberals are in love with granting Washington indefinite supremacy right now, with a Democratic Congress and president at the helm. They might not like it so much should a Republican Congress start working hand-in-glove with a President Sarah Palin.

UPDATE: Good news. A “Federal Judge Allows Multi-State Suit Against Health Care Law to Proceed.”