Complete Whimsy, Deficits, Dubiously Free Trade, Trust

The Left Reaches Really, Really Far on Detroit Bankruptcy

So MSNBC’s Melissa Harris-Perr said the following about Detroit’s recent bankruptcy filing (and general state of awfulness):

This is what it looks like when government is small enough to drown in your bathtub, and it is not a pretty picture

See for yourself:

I honestly don’t even know how to respond to someone who can’t see the difference between reducing taxes and having a reduced tax base. I just don’t know.

So I’ll give up and let Reason sum it up:

Detroit has been a “model city” for big-government! All Detroit’s mayors since 1962 were Democrats who were eager to micromanage. And spend. Detroit has the only utility tax in Michigan, and its income tax is the third-highest of any big city in America (only Philadelphia and Louisville take more, and they aren’t doing great, either).

… Home loan subsidies, public housing, stadium subsidies, a $350 million project called “Renaissance Center” (the city ended up selling it for just $50 million), an automated People Mover system that not many people feel moved to use (it moves people in only one direction), endless favors to unions — if a government idea has failed anywhere in America, there’s a good chance it failed in Detroit first.

But yeah, it was probably Ayn Randian libertarianism that brought Detroit down… I mean why not?

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Complete Whimsy, Deficits, Dollar, Federal Reserve

Peter Schiff Does Stand Up

OK, so Peter Schiff has gotten a little too doom and gloom for me of late, but he’s still the man. And apparently he can do stand up comedy too:

 Not bad for a stock broker…

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Deficits, Dubiously Free Trade, Trust

The Sugar Scam

So sugar is horrible for your health. And what does our wonderful government do? Of course, it massively subsidizes sugar which increases the prices of sugar for all of us so much it incentivizes the use of things like corn syrup, which is somehow even worse for your health. John Stossel talks to Sally Pipes about this scam:

 

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Photo Credit: Liberty Pen 

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Deficits, Live and Learn, Trust

5 Really Depressing Charts

Here’s the first one:

You can find the rest here at www.ecominoes.com.

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Photo Credit:  www.ecominoes.com

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Deficits, Dollar, Federal Reserve

New Clip from Documentary on Our Entitlement Mess

Another entry into the growing and quite impressive field of amateur documentaries looks to be quite good (although he may need some professional help to finish). This one is called Default America and it features a bunch of economists and influential thinkers including:

– Thomas Woods
– Peter Schiff
– Lawrence Kotlikoff
– Elizabeth Rankin
– David Howden
– Ron Paul

We’ve talked about this here quite a bit. The United States, as well as the rest of the Western World, has major structural deficits that need to be addressed. At least in the United States, we have the luxury of cutting our bloated military, although few Republicans seem to realize that’s an option. Here’s a segment:
 
 

Or maybe it’s even worse than that. After all, there’s this rather depressing video from Hal Mason, a retired accountant who makes a compelling case (albeit in a monotone, accountant-like voice) that the Congress can’t balance the budget even if they shut down the government:
 

Photo Credit: NCPA.org

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Complete Whimsy, Deficits, Trust

The Government Spends Money on Stupid Things: Video Edition

OK, I know these things are a bit of a cheap shot, which I’ve engaged in before. However, what our government spends money on is truly baffling (and upsetting/humorous depending on what sort of mood you’re in). Here’s a video countdown of the dumbest things our wonderful government spends money on:

 


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Complete Whimsy, Deficits, Dubiously Free Trade

Government Spends Money on Stupid Things

We all know the government spends money on some pretty stupid stuff, but when you hear the highlights of said stupidity, it constantly boggles the mind.

The End of the American Dream blog compiled a list of 30 stupid things the government is spending our money on, which I highly recommend you read, if nothing else for the comedy (tragedy?) of it all. My favorites include:

#3 If you can believe it, the U.S. government has spent $175,587 “to determine if cocaine makes Japanese quail engage in sexually risky behavior”…

#9 The U.S. Department of Agriculture once gave researchers at the University of New Hampshire$700,000 to study methane gas emissions from dairy cows…

#11 A total of $615,000 was given to the University of California at Santa Cruz to digitize photos, T-shirts and concert tickets belonging to the Grateful Dead.

#12 China lends us more money than any other foreign nation, but that didn’t stop our government from spending 17.8 million dollars on social and environmental programs for China…

#15 The U.S. Postal Service spent $13,500 on a single dinner at Ruth’s Chris Steakhouse…

#22 One professor at Dartmouth University was given $137,530 to create a “recession-themed” video game entitled “Layoff”.

#23 According to the Heritage Foundation, the U.S. military spent “$998,798 shipping two 19-cent washers from South Carolina to Texas and $293,451 sending an 89-cent washer from South Carolina to Florida”.

And there are plenty of other good ones for you to enjoy (cry about?). Reminds me of why I thought Nicolas Cage should be our next Treasury Secretary. Gee, I wonder how many people lost their jobs over all this…

Photo from http://www.nmnewsandviews.com

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