Repudiation Is an Option - Paul Cwik - Mises Daily

Repudiation Is an Option - Paul Cwik - Mises Daily: "Should we really feel bad for those who have purchased government bonds? They are the ones who have been feeding the monstrously reckless actions of the government. When they get (partially) burned, will they be willing to finance more government debt? Of course not. Suppose the Chinese decide not to lend any more to the US government. Is this really so bad? The government would have to deal with its future overspending.

Fundamentally, there is the issue of justice. Some people loaned the government their money for a return. Why should they have assumed that there was zero risk? When I invest in any other venture, there is always default risk. Why should the creditor to the government get to live under different rules?"

Government, So Five Years Ago! | The Freeman | Ideas On Liberty

Government, So Five Years Ago! | The Freeman | Ideas On Liberty: "Being able to connect your laptop to the Internet wirelessly on a citywide or even regional basis was the wave of the future – five years ago. All you needed was a $4 million investment and a private partner. If ever there were a surefire “shovel ready” infrastructure project that our elected officials believed could extend into the foreseeable future, this was it. The problem is, the future is very hard to foresee.

In this case, the project lasted two years. Then everyone starting buying iPhones and iPads and Droids and – poof! – all of a sudden you don’t need a laptop anymore to access the New York Times or email or Facebook. The superfluous Wi-Fi devices today have zero scrap value."

Contra Conventional Measures of the Growth of Government - Robert Higgs - Mises Daily

Contra Conventional Measures of the Growth of Government - Robert Higgs - Mises Daily: "That is, why should government's transfer spending increase whenever the economy's output of final goods and services increases? Indeed, such constancy would seem to betoken a kind of relative growth of government in its own right, inasmuch as people in a more productive economy presumably can get by more readily without government assistance; hence, as a rule, the ratio of transfers to GDP might be expected to fall in a growing economy rather than rise or even remain constant."

"people occupied with regulatory compliance are not truly privately employed"

Heavy Overall Expense Makes Such Rapid Transit Unfeasible | Randal O'Toole | Cato Institute: Commentary

Heavy Overall Expense Makes Such Rapid Transit Unfeasible | Randal O'Toole | Cato Institute: Commentary: "Take the Boston-to-Washington corridor, by far the densest in the nation. Amtrak's Acela may be the fastest way to get from downtown to downtown, but few people live or work downtown anymore, so the Acela carries only about 2 percent of passenger traffic in the corridor.

To cover its operating costs (but not its capital costs), Acela fares from New York to Washington begin at $139. By comparison, JetBlue fares begin at $39, while a variety of bus companies offering rides for $15 to $20 carry almost 50 percent more passenger miles than Amtrak. Buses take about 80 minutes longer than the Acela but offer free wireless Internet so travelers' time isn't wasted."

"Nor are trains particularly environmentally friendly. Intercity buses use 60 percent less energy per passenger mile as Amtrak trains, and when full life-cycle costs are counted, the difference is even greater."