insulated from the consequences of their actions

Someone once asked me why people kept indulging in obviously self-destructive behavior. My answer was, 'because they have been insulated from the consequences of their actions'.

I believe the socialists currently fulfilling their wish list in Washington at taxpayer expense are a dandy illustration of the point.

Peggy Noonan gets it:

"When I see those in government, both locally and in Washington, spend and tax and come up each day with new ways to spend and tax—health care, cap and trade, etc.—I think: Why aren't they worried about the impact of what they're doing? Why do they think America is so strong it can take endless abuse?

I think I know part of the answer. It is that they've never seen things go dark. They came of age during the great abundance, circa 1980-2008 (or 1950-2008, take your pick), and they don't have the habit of worry.
...
We are governed at all levels by America's luckiest children, sons and daughters of the abundance, and they call themselves optimists but they're not optimists—they're unimaginative. They don't have faith, they've just never been foreclosed on."

Yeah, everything is going to be fine

"Give me twenty bucks," says Uncle Sam, to nephew citizen.
And the twenty is given for we trust our Uncle.
"Here's $17. There I've stimulated you. Oh, and here's how to spend it," says Sam.
"Hey, where's the other three?" says nephew citizen.
"That's to pay me to write the rules on how you should spend the $17 I gave you."
"But that's my $20 you took."
"What, you're anti-family? We're all in this together you know. So just be patriotic and give me your money so I can tell you how to spend it."
"Geez, what a bum."
"Now you're being seditious."

American Spectator comment of the day. Reader Jim Hlavac on Max Schulz's About Those Green Jobs...

Thought of the day

"(R)eality being that compassion, culture, law and philosophy are precious, rare and acquired habits that must be defended with force against people who understand nothing but force."

and

"If civilization is worth having (and I believe it is) then it has to be defended, because the restraining virtues of justice, compassion and respect for laws are products of that civilizing force and completely unknown to those who would do it harm. Therefore, since I believe in this civilization, in its laws, science, art and medicine, I believe we must be prepared to defend it against what I feel no embarrassment for calling the Forces of Darkness. Those forces could be raiders on horseback, jackbooted Nazi murderers, faceless KGB torturers or some kid blowing away a shopkeeper."

Read the whole thing here.

Bill Whittle channeling Teddy Roosevelt's Barbarious Values idea. Damn that Whittle can write...

Thoughts on the economy

I don't believe that the downturn is over. Read this quote from 1930, during the rally which was a prelude to the next leg down:

“Cheap money is a stimulant, also an intoxicant. If the dose is large enough, a substantial temporary effect can be brought about, but headaches follow. If the matter really were that simple, everybody could be an economist, and only the perversity of central banks would keep us from endless prosperity. Merchants and manufacturers will not be induced to increase borrowings, since interest on money borrowed is only one small factor in total costs. But if merchants and manufacturers will not use cheap money, speculators will”. Benjamin Anderson, Chief Economist of Chase National Bank, New York Times, April 1930

I believe that housing is one market where a lot of that cheap money went the first time, and the bursting of that bubble was the downturn of 2008. I don't know that all the nonproductive speculation went into housing, though. There will be more to come. IMO The recent stock market recovery is fueled by money looking for a home rather than on the strengths of the business activity of the underlying companies, which makes it a bubble unless the underlying business picks up to a point to warrant the stock values. Time will tell, but I'm not betting on a continued stock resurgence.

Ty Andros at Financial Sense University says the same thing, much more eloquently and with actual documentation. I swiped the quote from his article.

Goya "sleep of reason"

The sabotaging of common sense apparently isn't new under the sun. Francisco Goya in 1797 produced this print:



"Fantasy abandoned by reason produces impossible monsters: united with her, she is the mother of the arts and the origin of their marvels."

Teddy Roosevelt and the Barbarous Virtues

"Unless we keep the barbarian virtues, gaining the civilized ones will be of little avail." - Teddy Roosevelt 1899

This idea too has been on my mind recently, and it may be part and parcel of the death of common sense. The idea that we know what is right and we know what we should do, but we have simply lost the intestinal fortitude to pursue it.

For example, Iran is at this time running pell mell toward the finish line of having a working nuclear device. Iran, the first practitioner of suicidal war since imperial Japan. Do you think it is in the best interests of pretty much every peace-loving non-muslim in the world to prevent that acquisition? Say it with me, 'Yes'. Can we, the United States, sole superpower left in the world, bring ourselves to stomp on Iran if only to set this project back a few years? I sincerely doubt it.

I fear that we have lost the barbarian virtues that allowed western civilization to succeed, and having lost them, our civilization will be devoured by cultures still possessing those virtues.

Sabotaging Common Sense

James Lewis in American Thinker wrote this: "So the Left is always asking the impossible. It makes them sound reasonable when they are just sabotaging common sense.", here.

That phrase "sabotaging common sense" really rang a bell with me. This is what I was sensing but having difficulty articulating in my previous post about taking the fairy people seriously.