I'm in Las Vegas for the next few days so posting will be about what it has been this past week. After all, there is gambling to be done and the fortune I've made from the blog ads here isn't going to spend itself.
In the meantime:
Of all places, you will find an important point in economics at the Huffington Post (it shows you how far the right has fallen when you won't find any mention of this at the Pajamas Media Right):
The Federal Reserve insists that "inter-connections" require rescuing large institutions that might knock down other entangled financial dominoes. However, these would not have been so cocky or so inter-connected in their web-spinning if the Fed had not allowed so much greed and gamesmanship for so long. Ex-Fed Chairman Alan Greenspan is often singled out as a culprit, but most of what he did was what most of the financial sector wanted. They, too, loved making 4th of July speeches about the glories of free enterprise and free -- market profits while counting on the government to collectivize the perils of risk. Big, fat and dumb financial institutions could count on being big, fat and bailed-out.
There was a time in the annals of American finance when this kind of practice would have been unacceptable -- indeed, serious economists like Joseph Schumpeter recognized that "creative destruction" was part of a vital capitalism. Painful as the depression of the early 1930s was, its creative destruction so revitalized U.S. finance and enterprise that by 1950, the U.S. economy was the kingpin of the post-World War Two world, vital and vibrant.
Wow, how come you never see any of this talk on on the economy on the Pajamas Media Right?
Because, as Justin Raimondo points out, the big government socialists ARE the Pajamas Media Right.
Pilfered from Lew Rockwell