Flight of the Clinton

August 12, 2009

I was wondering how former Pres. Bill Clinton got to North Korea.  The folks at Aviation Week enlighten me.

Read this!

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French Socialized Health Care Struggles

August 11, 2009

France is experiencing problems with its government run health care program. Similar problems may plague a US system if Obama’s health care reform plans are passed


Working Backwards

August 11, 2009

This story discusses the challenges faced by Britain’s pension fund.  Increased life expectancy and the over regulation of private pension plans means fewer Britons will be receiving pension funds.

Britain’s situation is similar to that of the United States Social Security program which is expected to go bankrupt within 50 years.

America would be wise to look at the problems faced by European social democracies when crafting social policy in the US.


Financial Regulation

August 11, 2009

The Obama administration, and some sections of the public, have an obsession with regulating the financial world. Their desire to do this stems from the belief that it is the financial industry which holds the blame for “creating” this recession through its boundless greed. To people like these Wall Street is home to wizards and magicians who watch trend lines and grow money. Finance is a complex industry, its fast moving, uses a different language, and is often seen as a lecherous career path in which greed rules the day. This last assumption is particularly worrisome, because few pay attention to the necessity of stock and bond trading or its impact on the macro economy.

I believe it was villain Carmine Falconi in Batman who said “you always fear what you don’t understand.” No where is this more true than in finance. What do you do with things you don’t understand, what do you do with things you fear? Well, you try to get rid of them. The public wants to regulate Wall Street because they want the risk of trading removed. They want their cake and to eat it too. They want the perceived easy profits and glamour with out the risk of loss and ruin. Government liberals want to regulate Wall Street because they believe it is the epitome of corporate greed, a shadowy black world where traders make huge profits at the expense of the common worker.

The market shouldn’t be totally void of regulations, it is my belief that the government exists to protect life, liberty, and property, and certainly the government has a role in preventing fraud and abuse, but shakling the institutions which fund fledgling businesses and drive the innovation of the country is a serious mistake! Risks spawn rewards, the greater the risk the greater the reward and the greater the loss. America rewards calculated risk with uncalculable wealth, and punishes foolishness with ruin.  This is the best regulation method.