‘The United Socialist States of America’

Barack Obama, Debt, Economy, Fascism, Federal Reserve Bank, Regulation

Obama’s “new regulatory regime” has Peter Schiff anticipating that the U.S.S.A. may soon “appoint a Politburo, move into dilapidated housing blocks, and parade [its] missiles in the streets.”

“The underlying problem is that the excessive risk taking which brought about the crisis was not market-driven, but a direct consequence of government interference with risk-inhibiting market forces. Rather than learning from its mistakes and allowing market forces to once again control risks and efficiently allocate resources, the government is merely repeating its mistakes on a grander scale – thereby sowing the seeds for an even greater crisis in the future.

As is typical of government attempts to control economic outcomes, Obama’s plans focuses on the symptoms of the disease and not the cause. The American financial system imploded for two reasons: cheap money and moral hazard – both of which were supplied by the government. Under the proposed new regulatory structures, these toxic ingredients will be combined in ever-increasing quantities.

The proposals most notably involve extra regulatory oversight of financial entities that the government deems ‘too big to fail.’ This implies that it is desirable to have such entities in the first place, and that the government will continue to back those large organizations that fall under its protection.”

A voice in the wilderness…

'Chest-Thumping Interventionists'

Foreign Policy, Iran, Neoconservatism

Alan Bock is scathing about the “heedless and self-important” “Fox-type personalities”; the people who “have spent most of their careers being wrong,” and their pronouncements about Iran.

“It is difficult to exaggerate the perniciousness and childishness of those who, as the Iranian situation unfolds, are practicing what Peggy Noonan in her Wall Street Journal column Friday called ‘Aggressive Political Solipsism at work: Always exploit events to show you love freedom more than the other guy, always make someone else’s delicate drama your excuse for a thumping curtain speech.'” a

…You can find them in full-throated bellowing mode on Fox News, at National Review online, and elsewhere in the various corners of the conservative – and sometimes moderate or liberal – blogosphere.”

I’m glad Peggy, who cheered for Bush’s war, his body parts—and for his every other bombastic utterance—has wizened up.

‘Chest-Thumping Interventionists’

Foreign Policy, Iran, Neoconservatism

Alan Bock is scathing about the “heedless and self-important” “Fox-type personalities”; the people who “have spent most of their careers being wrong,” and their pronouncements about Iran.

“It is difficult to exaggerate the perniciousness and childishness of those who, as the Iranian situation unfolds, are practicing what Peggy Noonan in her Wall Street Journal column Friday called ‘Aggressive Political Solipsism at work: Always exploit events to show you love freedom more than the other guy, always make someone else’s delicate drama your excuse for a thumping curtain speech.'” a

…You can find them in full-throated bellowing mode on Fox News, at National Review online, and elsewhere in the various corners of the conservative – and sometimes moderate or liberal – blogosphere.”

I’m glad Peggy, who cheered for Bush’s war, his body parts—and for his every other bombastic utterance—has wizened up.

Robert Bork: Sotomayor Pick 'A Bad Mistake'

Constitution, Law, Political Philosophy, The Courts

Robert Bork: Sotomayor Pick ‘A Bad Mistake’
By Barbara Grant

What does it mean, “to bork”? Readers too young to recall the 1987 Senate confirmation hearings on Robert Bork’s nomination as Supreme Court Justice might refer to this piece in which Judge Robert Bork discusses Sonia Sotomayor and calls her nomination a “bad mistake.”

To “bork” a nominee means to block him (or her) from appointment to public office. Bork avers that President Barack Obama’s standard of “empathy” in judge selection bodes ill for the selection of a justice who supports constitutional principles. He notes that “wise Latina” Sotomayor has less than a stellar record in her judicial opinions, and is in fact noted for bullying from the bench. However, he also offers that she will likely not be “any worse than some recent white male appointees.”

Bork calls himself an originalist, which means that he tries to interpret the Constitution in the manner it was drafted, at all times seeking first principles. This is different from the “judicial activism” principle currently held by many, in which justices twist the document to conform to preconceived political stances.

Robert Bork is adamantly opposed to twisting the Constitution; he also believes his opposition to Roe v. Wade on constitutional grounds was pivotal to his nomination’s rejection.

Where does the current trend toward “empathy” leave a highly principled man like Robert Bork? Still interested in the Constitution, but also wary of our justices’ decisions. “If you want to know what the constitution means, you will not learn it from the court,” he said.

BAB Contributor Barbara Grant is a consultant in electro-optical engineering and co-author of “The Art of Radiometry,” a forthcoming book on the measurement of light, to be published by SPIE PressB.