Peter Schiff / Glenn Beck

(From March 2008)

I generally don't like Glenn Beck's show, but overall he does seem more open to at least listening to alternative explanations to our economic crisis. To be fair, I did not--nor have I ever--read anything Beck has written (as he alludes to in the clip below)...so my opinion of Beck is far from final.

Schiff's appears about two minutes into the clip. Beck and Schiff go back and forth talking about the residual effects of the housing crunch, then Schiff delivers what I think is the most important line in the interview. At about the 4:50 mark, Schiff explains that Americans are seeing their wealth evaporate, not because the Chinese are eating more food, but because the Fed is printing more money.



I apologize for the Phil DeCarolis advertisements before and after the clip. I don't know who DeCarolis is or what he stands for, and right now I'm too lazy to investigate.

Good for Chelsea Clinton

She's right--it is none of your business.

What right does the public have that grants them access to Bill Clinton's private life? Public official or not, whatever happens between two private, consenting adults is between those two adults and not the public.

Jesse Ventura Speaks Out

The former governor of Minnesota, Jesse Ventura, recently appeared on Larry King and weighed in on several things, notably the Presidential race. Link via Huffington Post.

I haven't watched the entire interview yet, but Ventura always makes for good television. It's a pity that the news media essentially assigns him the role of the obscure, mysterious relative at a family reunion: always entertaining to listen to, but never to be taken seriously.

Admittedly, I do not remember much about Ventura's tenure as Minnesota's governor. In retrospect, considering Minnesota's heavy Democratic influence, Ventura's election should be considered nothing short of incredible. Of course, he enjoyed a high amount of name recognition because of his wrestling career, a theme that no doubt resonated well with younger voters. I watched a few of his debates, read a few things about him in the local newspapers, but was far from a Ventura activist.

However, whenever Ventura's name comes up I am reminded of two things: an exchange with a single mother in rural Minnesota during his gubernatorial campaign, and his appearance on "The Big Idea With Donny Deutsch" in 2005.

I remember being shocked at Ventura's callousness during his exchange with the single mother on the campaign trail. The single mother had asked whether or not a Ventura Administration would support increased child support payments for single mothers. Ventura said no, then asked the woman a rhetorical question (I'm paraphrasing) "Why should the government finance your mistake--what about the other, more responsible people who chose to wait until they could afford to have children?"

Granted, Ventura's categorization of the woman's decision to have a child as a "mistake" is a little harsh. That was my initial reaction--how dare Ventura attack that poor woman for having children! After all, this wasn't some staged WWF interview, this was real life--how could he say something like that? Ventura wasn't known for political tact; in fact, Ventura's Wikipedia page has a lengthy section devoted solely to controversy.

Such naive diagnosis confuses the larger issue, however. Instead of examining Ventura's reasons for opposing increased child support, I chose to get upset. Of course, in my wise old age (ha) I understand why altruistic programs like increased child support payments for single mothers only makes the existing problem worse.

The second Ventura memory I have is more recent. Ventura was doing an interview with Donny Deutsch, and Deutsch asked Ventura for his perspective on the War on Terror. Ventura said he believes Bin Laden has accomplished his objective, and we need to look no further than the usurpation of individual liberties as proof of this fact. Ventura recalls President Bush's post-9/11 admonition that Americans should continue their present lifestyles (and go shopping), for to alter our way of life was to concede victory to the terrorists who attacked us. With a National ID card on our doorstep, increased security at all government buildings and public transportation depots, security cameras everywhere you go, etc. it is difficult to disagree with Ventura's analysis.

It'd be refreshing if one news station took a gamble and installed Ventura as a permanent analyst on one of their shows. While Ventura's political leanings are more centrist than libertarian, his criticism of both parties--and government in general--would be a welcomed reprieve from the reality TV-like "debates" over present candidates.

Banking, Economics, and Consequences in Seven Paragraphs

A concise, accurate missive by Ron Paul from Lew Rockwell's website. As the economic crisis deepens and its affects become increasingly widespread, Paul's Presidential campaign--and his sage advice in years past--will hopefully find a larger audience.

The annoying moniker "doomsday economists" has mistakenly been applied to principled individuals such as Peter Schiff, Murray Sabrin, Ron Paul, etc. who repeatedly speak out against government intervention in the economy. One has to wonder just how bad conditions will have to get before the aforementioned doomsday naysayers will be proven right in the public eye.

It is a shame that, during these unstable times, people are seeking shelter under the false security umbrella of socialism. Millions of people will vote for some form of socialism in November, and I'm guessing the majority of the public supports some form of financial intervention. And guess what? Between the oil company hearings, the Treasury's calls for increased Federal Reserve control in financial markets, and the Fed irresponsibly lowering interest rates, people are going to get what they asked for. Unfortunately, the consequences of a mismanaged economy do not discriminate (save for the extremely wealthy).

Given the above, the great H.L. Mencken warrants mention:

"Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

Indeed, Mr. Mencken...it's too bad that responsible people also have to go down with the ship.

Dating Deal Breakers

An extremely funny NY Times article (and comment thread) about dating deal breakers. You know, the things that a potential mate can do that will eliminate them from contention for a relationship. To avoid a situation that would surely devolve into lengthy comments (not to mention an all-out war between the sexes) the NY Times focused on literature.

According to the article (and the bulk of the comments), I'm undateable because I like Ayn Rand. Oops, time to update the bookshelf. Apparently I should have grown out of that idealistic stage before entering college...where minds are permanently molded in reality's template, right?

Links via LRC blog. I particularly enjoyed Huebert's reaction to the author's advice to be careful when disclosing your favorite authors/books.

Truckers Feeling the Pinch

One story that caught my attention today when I was getting ready for work was the possibility of a trucker strike in response to the high price of diesel fuel. The bulk of the complaints are rooted in the cost-ineffectiveness of having trucks on the road. In an effort to draw attention to the matter, some truckers are planning organized responses, ranging from taking the day off to driving at reduced speed on highways.

At the port of Tampa, truckers lined up in protest early this morning. Police worked to break up the gridlock, and no incidents or delays were reported.

The implications of a massive, prolonged trucker strike are severe. Instead of singing the praises of truckers, however, I'm more concerned about the motivation behind union leaders when implementing a strike. Government intervention and labor disputes have a long, storied history, and there's no reason to believe that this labor dispute will be any different.

As discussed before, the steep incline in fuel prices are a consequence of the Federal Reserve's inflationary measures. As long as we continue to follow the irresponsible monetary policies of Henry Paulsen and Ben Bernanke we can expect more labor stoppages and prolonged economic crunches. Instead of grilling oil executives on Capitol Hill for the non-crimes of "excessive profits" and immunity from taxes, Congress would be better off demanding answers from Bernanke & Co. But I'm guessing a hearing with the Fed Chairman isn't likely to bring in many votes...or line the pockets of big government backers.

The Ugly, Horrible Rumor (continued)

Paul Craig Roberts (via Lew Rockwell) writes about the swirling rumors regarding an American attack on Iran. He makes it clear that an American strike--on the ground and through the air--is likely to happen sooner rather than later.

One interesting nugget of information is Russia's stance in face of an American attack. Citing a statement made by the Chief of Russia's general staff, the Russians do not see themselves as "obliged to defend the world from the evil Americans." How did the "evil empire" suddenly become non-interventionists?

I remain skeptical about an attack on Iran, especially from ground forces. If an attack is to take place, I'm inclined to believe it will come from high-altitude bombers and off-shore tomahawk missiles. American forces in the region are stretched thin as it is, and have proven they are unable to control even a small portion of Baghdad. An all-out attack on a massive, sophisticated, and defensible country like Iran would be suicide.