With the “meltdown” on Wall Street, it looks like global warming is striking the financial markets. Don’t laugh. It must have gone somewhere because it’s not doing as the left and the media had warned. Just a few months ago, supposedly responsible journalists were telling us that the Arctic could be ice free this summer because of the dreaded realties of warming. There are 1.74 million reasons why that didn’t happen. That’s how many square miles of ice are still standing after Arctic ice hit its low point for the season. On July 28, NBC’s Anne Thompson was the one... continue reading
Bailout. It’s all you hear any more. The government helps J.P. Morgan Chase bail out Bear Stearns. After years of mismanagement, the government bails out home mortgage titans Fannie Mae and Freddie Mac. Then there’s talk of a bailout of Lehman Brothers, though that didn’t happen. Many on the Hill want to bailout the Big Three automakers as well. And Washington Mutual and other financial firms are on deck. Don’t forget the subprime bailout plan that aided homeowners who had more mortgage than they could handle. The nation’s political leadership isn’t bailing any more. They are digging a deep hole... continue reading
Confessions of a Subprime Lender: An Insider’s Tale of Greed, Fraud and Ignorance by Richard Bitner. Paperback. 208 pages. Wiley. List price: $19.95. Greed is bad. Well, when it makes you so crazy that you become blind to – or don’t care about – risk. Greed and risk are at the heart of Richard Bitner’s insider account of the subprime lending meltdown. “Confessions of a Subprime Lender” (Wiley, 2008) is 208 pages of blame, fraud, and just plain stupidity laid bare. He describes the “underbelly” of the industry, detailing the steps each stakeholder took – steps that made increasingly less... continue reading
Convention time just ended for journalists, and they are on edge about the future. Not the political conventions – the annual Society of Professional Journalists event. With ad dollars shrinking and job losses mounting, the future they are most concerned with is their own. Media outlets are changing to survive, and those changes could move journalism even further to the left. It’s an issue that should concern everyone who relies on news and information. Since 2000, journalism has lost at least 4,000 fewer jobs for reporters and editors, and those numbers are climbing rapidly. Journalists are looking to corporate owners... continue reading
Two ideas are dear to conservatives: a belief in the benefits of innovation and the power of free markets. When it comes to technology policy, we generally believe that a hands-off regulatory approach is one that makes the most sense. It’s important for government to stand out of the way and let the market resolve an issue before stepping in and potentially interfering with innovation or the healthy growth of the market. The Internet, despite its origin as a government-funded defense network, has grown by leaps and bounds over the last two decades as a wild flower, unhindered by government... continue reading
Hollywood has been a liberal bastion for decades. Like the movies, pop music has been a leader for left-wing causes from Woody Guthrie in the ’30s to anti-Vietnam War folkies like Bob Dylan and Pete Seeger. The musicians that have followed in those left-leaning footsteps have read like a Who’s Who (or just The Who) of the music industry – Bruce Springsteen, Kanye West, Madonna and Hannah Montana. Hannah Montana? That’s right, teen idol Miley Cyrus, who appears as the title of the Disney Channel hit, has gone left, delivering a global warming anthem on her latest album. Fans of... continue reading
The American economy is a “disaster.” The media have been singing that song for at least a year. When a presidential candidate recites the refrain, it’s news. Or it should be. But in the election of 2008, such a ridiculous claim earned Democratic Sen. Barack Obama compliments from the mainstream media, not well-deserved critique. During an Albuquerque, N.M., town hall meeting, Obama complained about the criticism his spending policies had received from his opponent, Sen. John McCain. According to the National Taxpayers Union Foundation, Obama plans to increase government spending by $343.6 billion each year. That hike is more than... continue reading
Often we see headlines about inflation and hear financial analysts commenting on it. “Good Morning America’s” Chris Cuomo warned on August 21 that “ America is waking up to nationwide sticker shock, an unexpected spike in inflation now at a 17-year-high.” But like that segment on ABC’s morning show, seldom does anyone define inflation. Inflation is a decline in the value of money. This simple definition gives us insights into what causes inflation and why we might be concerned about it. It also provides insight into how we attempt to measure inflation. Milton Friedman was famous for pointing out the... continue reading
It is a matter of liberal orthodoxy that abortion is all about choice. Nothing could be further from the truth. Liberals support choice when it’s choice they agree with. The second that changes, they call for government mandates. No choice, just following orders. Doctors and nurses have been targeted in this battle for years. Big companies, too. This is standard for the left – attack businesses that dare support traditional values. After Wal-Mart knuckled under to pressure groups and agreed to stock the Plan B emergency contraceptive, Time magazine called them a liberal “ally.” Now pharmacists and drug store owners... continue reading
“Welcome to the four-day working week,” with apologies to Elvis Costello. That’s right, the four-day work week has arrived – at least according to the media and assorted politicians. High gas prices have given way to a new kind of highway robbery as taxpayers are left with no real choice. They either get a 25-percent increase in taxes or a 20-percent cut in services. That’s not how it’s being presented. Instead, we’re told the intersection of long commutes and nearly $4-gallon gas has produced a working revolution. Governments and businesses are switching to four-day work weeks to minimize travel costs... continue reading