10-Year-Old Prepares to Graduate College With Degree in Astrophysics - Local News | News Articles | National News | US News - FOXNews.com

10-Year-Old Prepares to Graduate College With Degree in Astrophysics - Local News | News Articles | National News | US News - FOXNews.com: "'I don't consider myself a genius because there are 6.5 billion people in this world and each one is smart in his or her own way,' Cavalin told NBC affliate Wood TV."

Well said!

"Cavalin has a general idea what his IQ is, but doesn't like to discuss it. He says other students can achieve his success if they study hard and stay focused on their work."

The End of American Exceptionalism - David Gordon - Mises Institute

The End of American Exceptionalism - David Gordon - Mises Institute: "For the United States, abolishing nuclear weapons ought to be an urgent national security priority… Nuclear weapons are unusable… Furthermore, the day is approaching when the United States will be able to deter other nuclear-armed states, like Russia and China, without relying on nuclear weapons. Modern conventional weapons possess the potential to provide a more effective foundation for deterrence."

I Wrote the Guide to Extend Rothbard - Robert P. Murphy - Mises Institute

I Wrote the Guide to Extend Rothbard - Robert P. Murphy - Mises Institute: "The next step in the argument is for the apologist for FDR to claim that Hoover handed over the worst economy in US history, and hence it's not surprising that things recovered more slowly under the New Deal.

Ah, not so fast. I dispose of that counterobjection by digging up Canadian unemployment statistics from the 1930s. Comparing them year by year with the official US figures, I discovered the following interesting factoid: From 1930 to 1933, the US unemployment rate averaged 3.9 points higher than the Canadian rate. Yet from 1934 to 1941, the US rate averaged 5.9 points higher. (Both rates tended to fall over time from their 1933 peaks, but Canada's fell faster.)

Why is this significant? It shows that not only did the US economy recover from depression under FDR more sluggishly than at any other point in US history, but it also recovered more sluggishly compared to Canada's experience during the Great Depression itself. What else do we need to do to show that the New Deal did not 'get us out of the Depression'?"

Conscription of Men, Women, and Resources - Art Carden - Mises Institute

Conscription of Men, Women, and Resources - Art Carden - Mises Institute: "What is compulsory national service but a type of slavery?"

"'Service' extracted at the point of a gun is not honorable. It is tragic. Furthermore, conscription is a backdoor way of increasing the state's burden on society in a way that is more difficult to measure than taxing and spending. The use of compulsion suggests ipso facto that resources are being wasted."

"Higgs points out that people were slow to volunteer after the United States entered the war (p. 131). In spite of Woodrow Wilson's stated opposition to conscription, he moved forward with a draft law that had been sent to Congress 'the day before the declaration of war'"

"Individuals' reluctance to volunteer suggests that service to the alleged moral rightness of the cause is not a sufficient compensating differential to those who are called to risk life and limb."

"Evidently no one in the government ever considered whether the desired number of volunteers could be obtained by making the deal sufficiently sweet."

Genuine Change Won't Come this Way | Neal McCluskey | Cato Institute: Commentary

Genuine Change Won't Come this Way | Neal McCluskey | Cato Institute: Commentary: "Suppose I'm willing to buy a hotdog for one dollar, but then get a dime in frankfurter assistance. Now I'll happily pay $1.10. And then suppose my local wiener retailer, from whom I've always bought one-dollar dogs, knows I've got that aid. By charging $1.10 he can make himself richer without making me any worse off. It's tuition inflation in a nutshell or bun, as the case might be.

College pricing and aid data strongly suggest this dynamic is at work. For instance, between 1986 and 2006, published tuition, fees, room and board prices at four-year private colleges rose an inflation-adjusted 68 percent. But students didn't cover most of the increase with their own money. They got grants, cheap loans, and other forms of assistance that made their perceived increase only about half that of the published amount. That big difference gives strong reason to believe that 'sticker prices' were only able to rise so high because consumers felt just a fraction of the pain, and schools knew it."

"stingy state and local spending can't explain tuition inflation in private schools, which the task force itself puts at 154 percent between 1979 and today.

In addition, total taxpayer burdens for public institutions haven't fallen. According to the federal Digest of Education Statistics, between 1990 and 2005 (the latest year with available data), real state and local appropriations to public degree-granting institutions rose almost 15 percent, hitting nearly $67 billion.

The only way state and local funding has dropped has been on a per-pupil basis thanks to growing enrollment, which the report ultimately notes. Even on that score, though, one can't lay most of the blame for tuition inflation on state and local governments – tuition revenue per-student has risen much faster than government allocations have dropped."

Sad End to the Immigration Issue - Llewellyn H. Rockwell, Jr. - Mises Institute

Sad End to the Immigration Issue - Llewellyn H. Rockwell, Jr. - Mises Institute: "A standard test of a country's well-being is whether people want in or out. Whether you have an immigration issue or an emigration issue is telling. For example, people wanted out of East Germany and wanted into West Germany. People wanted out of Russia and into Estonia. People once wanted out of China, whereas now they want in."

"Data from Mexico is extremely telling in this regard. There has been a massive plummeting in Mexican immigration to the United States within the last year. A quarter of a million people who would otherwise have come to the United States for work have decided to stay away."

"Time was when shelters just across the border, where people lived until they saw an opportunity for safe passage, were filled and overflowing. Now they are empty. Time was when the border-patrol vans and buses hauled people here and there, whereas now they just drive around on day trips, looking for some sign of life.

To have an "immigration problem" is enormously flattering for a country. For that problem to go away is a dark cloud, a bad omen, a sign that something is going terribly wrong. The absence of an immigration problem can quickly turn into an emigration problem."

"Prosperity is associated with the widest-possible division of labor. This is what leads to innovation too."

Handling America's Homeless Families | Doug Bandow | Cato Institute: Commentary

Handling America's Homeless Families | Doug Bandow | Cato Institute: Commentary: "The Bible demonstrates concentric rings of responsibility moving outward, starting with individuals who are enjoined to take care of themselves, rather than living off of others. Those who fail to care for their families are worse than unbelievers, Paul warns. The early church transferred money within and among faith communities. Finally, Paul says in Galatians, 'let us do good to all people.'

If the political authorities are to act, it should be because other institutions have failed to meet people's basic needs. Today, far more private than public programs serve the homeless. The Catholic and Protestant doctrines of subsidiarity and sphere sovereignty, respectively, recognize that government is to respect the roles of other social institutions."

"The answer is not simply more money for more government programs, of which there are thousands nationwide. This enormous challenge can be best met by reflecting back on the biblical model. We need to simultaneously meet current needs, which often include illness and hunger, and reduce future problems."

"We should instead make housing less expensive. Through exclusionary zoning (including restrictions on multifamily housing and minimum-lot size and square-footage requirements) and outmoded building codes (which reflect union interests rather than safety concerns), government has limited the housing supply and increased housing costs. Palliatives like rent control only worsen the underlying problem; government should strip away barriers to affordable housing. Doing so would help reduce homelessness."

Arsonist Behind California Wildfire That Killed 5 Firefighters Sentenced to Death - Local News | News Articles | National News | US News - FOXNews.com

Arsonist Behind California Wildfire That Killed 5 Firefighters Sentenced to Death - Local News | News Articles | National News | US News - FOXNews.com: "A convicted arsonist was sentenced to death Friday for setting a Southern California wildfire that claimed the lives of five federal firefighters as they struggled to defend a rural home from raging wind-driven flames."

(Not knowing all of the details) It seems like the punishment out-weights the crime.

Handguns Will Be Allowed in Tennessee Bars and Restaurants - Local News | News Articles | National News | US News - FOXNews.com

Handguns Will Be Allowed in Tennessee Bars and Restaurants - Local News | News Articles | National News | US News - FOXNews.com: "'I still think that guns in bars is a very bad idea. It's an invitation to a disaster.'"

The same can be said about alcohol in bars. :-))

Private Education and Development: A Missed Connection? (Part III) | James Tooley | Cato Institute: Commentary

Private Education and Development: A Missed Connection? (Part III) | James Tooley | Cato Institute: Commentary: "For Sajitha it was clear: If many — or even a few — parents had higher aspirations for their children and wanted to send them to private schools, then 'they should not be allowed to do so, because this is unfair.'

It's unfair because it makes it even worse for those left behind. This puzzled me. Why should we treat the poor in this homogenous way? Would we — Sajitha and I — be happy if we were poor, living in those slums, and unable to do the best for our children, whatever our meager funds allowed?"

"The team observed that in the government schools, "generally, teaching activity has been reduced to a minimum, in terms of both time and effort."Importantly, "this pattern is not confined to a minority of irresponsible teachers — it has become a way of life in the profession." But they did not observe such problems in the private schools serving the poor."

"So what was the secret of success in these private schools for the poor? The report was very clear: "In a private school, the teachers are accountable to the manager (who can fire them), and, through him or her, to the parents (who can withdraw their children)."

'In a government school, the chain of accountability is much weaker, as teachers have a permanent job with salaries and promotions unrelated to performance. This contrast is perceived with crystal clarity by the vast majority of parents.'"

"Something as surprising as large numbers of the poor using private schools is surely worthy of comment in the conclusions, isn't it? Not a bit. The fact that the poor are helping themselves in this way was deemed unworthy of further mention in the introduction or conclusions. It was all a non-issue as far as the Oxfam Education Report was concerned."

Dick Cheney Is Becoming Obama's Enabler | Gene Healy | Cato Institute: Commentary

Dick Cheney Is Becoming Obama's Enabler | Gene Healy | Cato Institute: Commentary: "Whatever you think the right policy is regarding enemy combatants, warrantless wiretapping, and 'enhanced interrogation,' the differences between Obama and Bush are far more stylistic than substantive.

'Enemy Combatants': Actually, there's no such thing as an 'enemy combatant' anymore: the Obama administration has, with great fanfare, abandoned the term. We can call terrorist suspects our 'special friends' if we like, but the Obama team has fought hard in court to retain the same powers that Bush exercised."

"Surveillance: Here too, the promised "Change" is less than meets the eye. Obama sold out on surveillance well before he was inaugurated, breaking his campaign promise to filibuster any law immunizing telecom companies that cooperated with Bush's illegal wiretapping program.

As president, Obama has gone further still than Bush, arguing in court that, as the Electronic Frontier Foundation has put it, 'the government can never be sued for surveillance that violates federal privacy statutes.'"

"Interrogation: In the first week of his presidency, Obama swore his administration would follow the Army Field Manual in interrogations. A welcome change, until you looked at the fine print, which allows the CIA to adopt other tactics if the president chooses.

If Obama sets the CIA loose, they still won't be allowed to waterboard. But only three prisoners were subjected to that technique, and none since 2003. Which points up a weird disconnect in conservative arguments about torture: Folks like Cheney insist that these techniques were vital, but defend themselves by maintaining they were rarely used. Has Bush/Cheney timidity kept us at risk for the last six years?"

"FBI officials scornfully referred to "leads" generated by Bush's secret wiretapping program as "calls to Pizza Hut," and a CIA operative told the Washington Post that, thanks to torture, they'd "spent millions of dollars chasing false alarms." Lacking access to secret evidence, ordinary citizens are hard-pressed to sort out these claims.

Even so, we went more than seven years without a foreign terrorist attack on US soil after the attempted World Trade Center bombing in 1993. Should we therefore conclude that Bill Clinton's policies kept us safe all that time?"

Critics Deride Bill Designed to Keep Weapons Out of Terrorists' Hands - Political News - FOXNews.com

Critics Deride Bill Designed to Keep Weapons Out of Terrorists' Hands - Political News - FOXNews.com: "The Denying Firearms and Explosives to Dangerous Terrorists Act of 2009 would authorize Attorney General Eric Holder to deny the sale or transfer of firearms to known or suspected terrorists"

"It doesn't say anything about trials and due process," said Larry Pratt, executive director of Gun Owners of America. "This is one of the most outrageous pieces of legislation to come along in some time. It's basically saying, 'I suspect you, so your rights are toast.'"

Interfaith Dialogue: The Great Unmentionable | Doug Bandow | Cato Institute: Commentary

Interfaith Dialogue: The Great Unmentionable | Doug Bandow | Cato Institute: Commentary: "past Western dialogue with Islam has consistently missed the elephant in the room: Pervasive religious persecution.

Who persecutes religious minorities around the world? Communist and former communist states are big offenders: China, Cuba, Vietnam, and North Korea. There's a motley mixed group, including India, Sri Lanka, and Burma. Then there are Islamic states.

The United States Commission on International Religious Freedom (USCIRF) recently released its latest report. Of 13 states named Countries of Particular Concern, seven have overwhelming Muslim majorities: Iran, Iraq, Pakistan, Saudi Arabia, Sudan, Turkmenistan, and Uzbekistan. Two, Eritrea and Nigeria, have narrow Muslims majorities. Of 11 countries on the Commission's Watch List, six have majority Islamic populations: Afghanistan, Egypt, Indonesia, Somalia, Tajikistan, and Turkey. Of three countries being 'closely monitored,' two, Bangladesh and Kazakhstan, are majority Muslim. That is 17 of 27.

International Christian Concern publishes a 'Hall of Shame' naming the ten worst persecutors. Six of them — Egypt, Eritrea, Indonesia, Iraq, Pakistan, and Saudi Arabia — have Muslim majorities.

In fact, it is unusual to find an Islamic nation where religious minorities are not discriminated against, both legally and socially. One of the best predictors that a government persecutes, or fails to protect religious minorities from persecution, is that the majority faith is Islam.

Obviously, there is a range within the Islamic world. Some of persecutors, such as Eritrea and the Central Asian countries, for instance, seem driven more by ideology than theology. Moreover, not all Islamic states imprison or kill dissenters. But even the good isn't very good."

"Although Islamic states are not monolithic, many of them routinely and sometimes savagely repress religious minorities. In contrast, there is a dearth of Christian states which persecute. Cuba and Venezuela are repressive, but their depredations are political, not theological. Only in Russia does official discrimination — bothersome but not deadly — seemingly reflect a religious bias, in this case in favor of the Orthodox Church.

Obviously the president cannot center U.S. foreign policy on the issue of religious liberty. But the freedoms of conscience and of religious faith are basic human rights, the promotion of which is an important objective of American policy. Moreover, no genuine dialogue with the Islamic world can overlook the Muslim record on religious persecution. If Islamic governments expect the Western states "to take all possible measures to promote tolerance and respect for all religions and beliefs," then the former need to do so as well. And that means protecting the liberty of those who believe and worship differently in their own countries.

By all means, let's encourage dialogue with Muslim nations. But let's put all issues on the table, including religious persecution."

Proliferated Nonsense | Ted Galen Carpenter | Cato Institute: Commentary

Proliferated Nonsense | Ted Galen Carpenter | Cato Institute: Commentary: "Yet while the trend is unmistakably in the direction of more, not fewer, nuclear powers, the arms-control community is devoting ever more time and resources to the goal of 'global zero'—the abolition of nuclear weapons. That obsession is a fascinating and maddening detachment from reality.

It is not even clear that abolishing nuclear weapons would produce an unambiguously beneficial result. Perhaps it is only a coincidence, but the six and a half decades since the dawn of the atomic age constitute the first extended period since the emergence of the modern state system in the seventeenth century that no major wars have occurred between great powers. Many historians conclude that the principal reason the cold war did not turn hot was because both Moscow and Washington feared that a conventional conflict could easily spiral out of control into a nuclear conflagration. It is at least a worrisome possibility that the elimination of nuclear weapons could inadvertently make the world safe for new great-power wars. And given the destructive capacity of twenty-first-century conventional weapons, such wars would be even more horrific than the two bloodbaths in the twentieth.

But even if global zero did not produce such a perverse outcome, the goal is simply unattainable. It is improbable enough that the United States, Russia, Britain, France and China would be willing to relinquish their arsenals. It is a much bigger stretch to believe that such countries as Israel, India and Pakistan would do so. And it is bordering on fantasy to expect such wannabe nuclear powers as North Korea and Iran to abandon their aspirations.

All of those countries embarked on nuclear programs because of acute regional and extra-regional security concerns. Israel worries about the huge demographic edge enjoyed by its Islamic neighbors, and the prospect that the Jewish state's edge in conventional military capabilities will gradually erode. Pakistan worries about the growing economic and military power of its larger neighbor, India. New Delhi, for its part, not only distrusts Pakistan, but frets about China's geostrategic ambitions. All of those countries regard their nuclear arsenals as their ace in the hole, guaranteeing not only their regional status, but in some cases their very existence. They are highly unlikely to relinquish such a tangible insurance policy in exchange for paper security promises from the United Nations or any other source."

"Instead of pursuing the chimera of global zero, the arms control community needs to focus on attainable goals in a world in which proliferation is becoming an unpleasant reality. Getting the United States and Russia to drastically cut their bloated nuclear arsenals is one such goal. So, too, is an effort to induce India and Pakistan to adopt more explicitly defensive nuclear doctrines, and in the case of Pakistan, to improve the security of its arsenal. It may be possible—although it is more of a long shot—to persuade Iran to refrain from weaponizing its nuclear program, thereby reducing the incentive of its worried neighbors to build their own deterrents. An effort to reduce Pyongyang's temptation to become the global supermarket for the sale of nuclear technology has at least some prospect of success."

All Cost, No Benefit | Jerry Taylor | Cato Institute: Commentary

All Cost, No Benefit | Jerry Taylor | Cato Institute: Commentary: "If the proposed fuel efficiency standards were in place today, Edmunds.com reports that only two cars — the 2010 Toyota Prius (50 mpg) and the 2009 Honda Civic Hybrid (42 mpg) — would meet the standard."

(Don't forget the Tesla)
If only a few cars meet that standard how many will in 7 years? And what about options with more passengers, cargo, towing, or safety?

"There is little dispute that, as a consequence, cars would become more expensive and industry profits more scarce. Even the Obama administration concedes that automotive costs would increase by $600 per car on average and that industry revenues would decline by $13 billion to $20 billion a year. Others offer larger figures, but it's difficult to peg costs with any certainty."

"U.S. emissions would likely decline, but reduced U.S. demand for crude would mean reduced global crude prices, which in turn would increase demand for — and consumption of — oil outside the USA. Eventually, most if not all our reductions might be offset by increases elsewhere.

Finally, drivers and passengers would be less safe. Plenty of hard evidence suggests that smaller, lighter cars equal more highway injuries and fatalities.

Reduced fuel consumption is not an end unto itself. It is a means to an end. These means wouldn't achieve the advertised ends."

Does Military Power Keep Us Safe? (Part II) | Christopher Preble | Cato Institute: Commentary

Does Military Power Keep Us Safe? (Part II) | Christopher Preble | Cato Institute: Commentary: "By reducing the size of our military to a level more consistent with our own needs, and by encouraging others to become more self-reliant, we can make space for the other forms of human interaction that facilitate security and prosperity over the long term."

"Some worry of a new cold war with Russia, while others see a hot one with China in the offing, perhaps over Taiwan. Those prospects cannot be dismissed lightly, but the fact remains that the major powers have managed to avoid the very sorts of cataclysms that claimed the lives of an estimated 100 million people in the first half of the 20th century. Perhaps we've all learned something?"

"The casualties caused by international terrorist incidents since September 11, 2001, and the prospects for future casualties, pale in comparison to the death and destruction that took place between August 1914 and November 1918, and again between September 1939 and August 1945.

The violence and bloodshed that can be deployed by non-state actors is an order of magnitude smaller than what could be caused by even a medium-size modern industrial state.

Can it even be compared with the Cold War, which claimed far fewer lives but lasted nearly five times longer than the two world wars combined? Again, no. Both are ideological struggles, fought chiefly by non-military means, but the threat of global thermonuclear war hung over every aspect of Cold War diplomacy.

And the scale of violence that would have been unleashed had U.S. or Soviet (or Chinese, French or British) decision makers lost their cool would have caused far more death and destruction than Osama bin Laden can muster in the darkest reaches of his imagination.

What we need is a little perspective. This perspective should inform our strategy for the next generation.

For if there is a historical analog for the radical Islamist terrorist threat of the early 21st century, it is the anarchist movement of the late 19th century. Like the modern-day terrorists, the anarchists spread chaos and disorder by blowing up bombs in crowded places and by inciting riots.

Anarchists succeeded in assassinating a number of world leaders, including Czar Alexander II of Russia, Empress Elisabeth of Austria-Hungary — and even U.S. President William McKinley.

The killing of a single man, Archduke Franz Ferdinand in Sarajevo in June 1914, precipitated the global conflict that resulted in more than 30 million casualties. That provides a useful lesson for the present day, but not the one that the scaremongers want you to learn: namely, that the overreaction to comparatively minor incidents can have far-reaching, and often horrific, effects."

"On the other hand, and especially in the case of Iraq, we have lashed out, convinced of our right to do so based on our own security needs, and believing the military to be the best instrument for breaking that supposed state-terror nexus.

On still other occasions, we have pointed to our sense of obligation to act, in the service of democracy promotion or the advancement of human rights, believing that those lofty goals would also undermine the terrorists' cause.

But surely if ever there was a case of means upsetting ends, this was it, because for every ten, or even 100, quiet successes against al-Qaeda and its ilk, it takes but one loud failure to set back our efforts, perhaps for many years."

"They worry not that we will direct our wrath at them, but rather that in our thirst for justice we will harm those unfortunate enough to be in the wrong place at the wrong time."

The Rise of Collectivist Conservatives | Will Wilkinson | Cato Institute: Commentary

The Rise of Collectivist Conservatives | Will Wilkinson | Cato Institute: Commentary: "'Your rights as an American are individual rights,' Beck reminds us. 'I feel like I need to keep saying that word so it stays in the front of your and everybody's mind—individual, individual, individual!' To add heft to his indignant free-associative musings, Beck turns regularly to semi-pro philosophers such as Ayn Rand Institute president Yaron Brook to decry the 'ideology of altruism and collectivism' before his considerable television audience."

"Beck's "9/12 Project," meant to revive the fleeting American spirit of grieving, truculent solidarity that followed the 9/11 attacks, lays out nine principles and 11 values of "the greatest nation ever created." The first principle is "America is Good." What is that if not a recklessly unconditional commitment to the national collective? With his fourth principle—"The family is sacred"—Beck simply ignores the fact that no force in human history has been more corrosive to family cohesion than the individualist ideal of self-realization that he champions.

Similarly, when it comes to the "War on Terror," Beck's embrace of the rights of individuals against the state just peters out. Beck's nonchalance about warrantless wiretaps and water-boarding betrays a peculiar notion of individual liberty."

"For too many conservatives, "individual rights" is code for their right to remain unburdened by whatever exercises of state power they happen to dislike."

A High-Speed Rail Mirage | Randal O'Toole | Cato Institute: Commentary

A High-Speed Rail Mirage | Randal O'Toole | Cato Institute: Commentary: "Although every taxpayer would share the cost of these trains, high-speed rails are not about serving the common people. Instead, they are aimed at the elite. Japanese and French high-speed trains are attractive to tourists, but they're not heavily used by local residents. Residents of Japan and France on average ride their bullet trains less than 400 miles a year."

"Amtrak charges a minimum of $99 for its high-speed Acela from New York to Washington, but only $72 for its conventional train. Fares for unsubsidized buses on this route start as low as $20 (including free Wi-Fi), while airfares start at $99. Only the wealthy and those whose employers cover the cost will pay the $99 rail fare."

"Obama's 9,000-mile high-speed rail plan reaches just 33 states, yet the $13 billion he proposes to spend would cover about 2.5% to 25% of the cost, depending on how the system is built. In contrast with the interstate highway system, which paid for itself out of user fees, high-speed rail fares would not cover the capital costs and only part of the operating costs.

Most of Obama's plan should really be called "moderate-speed rail," as it would upgrade existing freight lines to run passenger trains at top speeds of 110 mph. At around $5 million per mile, the total cost would come close to $50 billion."

"California predicts its 220-mph trains would take just 3.5% of cars off of roads. California highway traffic grows that much every two years."

Can President Obama’s Policies Heal the US Economy? - Frank Shostak - Mises Institute

Can President Obama’s Policies Heal the US Economy? - Frank Shostak - Mises Institute: "[Obama:]

The first step was to fight a severe shortage of demand in the economy. The Federal Reserve did this by dramatically lowering interest rates last year in order to boost investment. And my administration and Congress boosted demand by passing the largest recovery plan in our nation's history.

There is, however, no such thing as a shortage of demand. In fact, individuals' demand is unlimited. What is scarce is not demand but rather individuals' ability to fund the demand.
For instance, an individual might have a demand for a Mercedes 600, but only have the funding for a bicycle.
In order to be able to fund a Mercedes, our individual must produce enough goods to enable him to secure the car.
A dramatic lowering of interest rates and massive government spending cannot improve the bottom line of the economy (the individual's ability to produce more and better-quality goods). Such policies can only redistribute real wealth from wealth producers to wealth consumers."

"there is need to emphasize the truism that a government can spend or invest only what it takes away from its citizens and that its additional spending and investment curtails the citizens' spending and investment to the full extent of its quantity."

"The US president is of the view that somehow he could make the banks lend regardless of real savings. The only expansion of lending that the president could enforce upon banks is lending "out of thin air." This type of lending amounts to the creation of money "out of thin air" — the key factor behind the present economic crisis."

The Age of Folly - Llewellyn H. Rockwell, Jr. - Mises Institute

The Age of Folly - Llewellyn H. Rockwell, Jr. - Mises Institute: "The full-scale war on recession began in January 2008. Unemployment was climbing and house prices were falling, and George Bush, whose entire persona was the war mode since 2001, decided he wouldn't tolerate declining economic conditions.

That's when the Fed started pushing down interest rates to ridiculous lows and started gunning the money supply as much as possible. Bush put on his solemn/determined face and started talking to the American people about how he was going to destroy this recession monster in its crib."

Government attemps to fix the recession have been failing so maybe they should reconsider their tactics.

Bad News for Our Money - Thorsten Polleit - Mises Institute

Bad News for Our Money - Thorsten Polleit - Mises Institute: "In the United States, the Federal Open Market Committee reiterated on April 29, 2009,
"to provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of up to $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt by the end of the year. In addition, the Federal Reserve will buy up to $300 billion of Treasury securities by autumn.[4]"

Once again the bailouts of congress pale in comparison to the activities of the federal reserve.

Rights for Robots - Sir Ernest Benn - Mises Institute

Rights for Robots - Sir Ernest Benn - Mises Institute: "For socialism is not a system; it is a disease. The 'something for nothing' mentality is, in fact, an economic cancer."

"Well-meaning, shallow thinking, kindly people, aware of the scriptural injunction that "the greatest of these is charity," have failed to notice the distinction between the real article and the giving away of other people's money."

Obama Set to Appoint Pay Czar - Political News - FOXNews.com

Obama Set to Appoint Pay Czar - Political News - FOXNews.com: "The Obama administration plans to appoint a 'Special Master for Compensation' to ensure that companies receiving federal bailout funds are abiding by executive-pay guidelines, according to people familiar with the matter."

Government money always comes with strings -- even if they aren't attached until later.