Rule by Numbers

I am here at the Southern Economic Association in Atlanta, Ga, where it is very nice, pleasantly warm weather, and where numbers and statistics flow like water.  The first session I attended was on measures of economic freedom, and interesting topic on its face.  And the papers were interesting, but excruciatingly painful, looking at factor analysis, regressions, and all those items political science and economics students learn but many seem to hate–and even some scholars in those fields hate them.… Continue Reading ››

The Real Crisis

In light of President Obama’s speech on immigration and his new regulations, I came across an excellent article by Charles C. W. Cooke in the National Review.  It can be found here: http://www.nationalreview.com/article/393248/congress-seems-happy-have-its-powers-usurped-charles-c-w-cooke (sorry I can’t do better with links).  The real crisis is Congress’s happy relinquishment of its prerogative over time, and the quite predictable results.  It is a must read. By the way I will “go on record” to say that we do need immigration reform, but not from the… Continue Reading ››

Well, no October Surprise from Stock Market collapse. Why Not?

A few weeks before the election, I speculated that a potential election threat to the Democrats was a significant correction to the stock market.  The main reason for the speculation was the impending cessation of QE3, the Fed’s monetary stimulus program.  Pretty much all market observers believe the Fed’s stimulus has at least contributed to the significant stock index accumulation, and indeed, in more candid but also more opaque (to the non-economist) comments Mr. Bernanke would say the purpose of… Continue Reading ››

Immigration: “Fixing” a “Broken” Government?

President Obama has announced, via Facebook and other outlets, that he is going to issue an executive order that will, if sources are correct, shield at least five million illegal immigrants from law enforcement. The President, and others, are floating several justifications for the action. In his own video, Obama claims he is going to “fix our broken immigration system.” Why is it broken? Because “Washington has allowed the problem to fester.” (Is President Obama still pretending to be an… Continue Reading ››

Big Jets, Envy and Christian Responses

It looks like the media are again raising the specter of inequality.  The New York Times, whom no one would confuse with a conservative newspaper, in a November 15, 2014 article, now seems to be lamenting the fact that some “super rich” people are purchasing bigger private jets, “leaving behind” the mere wealthy.  I didn’t see Thomas Piketty’s name mentioned in the article, but his presence was felt.  Piketty is now famous for writing a very big book entitled Capital… Continue Reading ››

Obama, Immigration, and Presidential Power

President Obama appears to be weighing the possibility of unilateral executive action to redefine the legal status of between 5 and 10 million illegal immigrants. His party’s defeat at the polls just two weeks ago appears not to have chastened the President, but has, perhaps, precipitated a constitutional crisis. Obama’s defenders are invoking previous Presidents to justify his actions. Abraham Lincoln used executive authority for the Emancipation Proclamation and, as James Clyburn (D-SC) reminds us, Harry S Truman used executive… Continue Reading ››

Bereans on the Road: Southern Economic Association

During the month of October the Bereans at the Gate “Roadshow” played at several churches in the greater Miami Valley area. This Sunday, November 23, several Berean regulars: Marc Clauson, Jeff Haymond, and Bert Wheeler will be making presentations at the Southern Economic Association meeting in Atlanta. In preparation for this momentous occasion we will be making slightly abbreviated forms of our presentations Tuesday afternoon at 3:30 PM November 18 in Milner 102 on the Cedarville University campus. Hope to see you there.… Continue Reading ››

Heard It Through the Grapevine

There was a great short article in Forbes Magazine November 10 by George Leef.  It also brought back memories from my law school days when I wrote about a very similar topic.  Leef’s article was about the Raisin Administrative Committee—yes you read it correctly a Federal agency named the Raisin Administrative Committee.  If only it referred to the raisins of commercial fame, we would all be happy.  It does not.  It is a committee established in 1949 to regulate the… Continue Reading ››

Armistice Day

On the eleventh hour of the eleventh day in the eleventh month of 1918, an armistice ended World War 1. More than 9 million soldiers died in the war, with 20 million wounded. The war ended but a generation was lost or crippled. At the Battle of the Somme, the British alone suffered more than 400,000 casualties, with total numbers for all combatants more than one million. Today, we use November 11 to celebrate our veterans, but as we should… Continue Reading ››

The Walls Came Down

Imagine a government so twisted and evil it had to build a wall to keep “citizens” from fleeing. Imagine next what it was like to watch the Berlin Wall come down. The moment was emotional for all Cold War Kids, of which I was one, but I cannot imagine the impact for those who grew up in the shadows of that monstrous symbol of Communism. Today is the 25th anniversary of the wall’s destruction. For a good photo journal of… Continue Reading ››