6 thoughts on “Random Thought”

  1. In extremely simplistic terms they both get their paychecks from government.”Who pays the piper calls the tune,” so to speak. As for the judiciary, being part of the government, it is no surprise to me they tend to favor what the government is doing in their rulings.

  2. If I have seen further, it is by standing on the shoulders of giants.

    Isaac Newton.

    The Giants are gone. Imagine Scotland during its enlightenment.

    Among the Scottish thinkers and scientists of the period were Francis Hutcheson, David Hume, Adam Smith, Dugald Stewart, Thomas Reid, Robert Burns, Adam Ferguson, John Playfair, Joseph Black and James Hutton.

    More were Adam Smith, Thomas Carlyle, James Watt, William Murdoch, James Clerk Maxwell, Lord Kelvin and Sir Walter Scott.

    What does Scotland have now ? The SNP.

    We are headed there at a rapid pace. I’m reading Maxwell’s papers or trying to.


  3. Both institutions defer excessively to legislative and regulatory agendas

    Yet both were set up with exceptional unaccountability so that they would not be subject to the political furies of the day.

    Perhaps they self-censor their policies to suit the legislature so that their institutional independence will not be threatened.

    More likely is that because they are selected by the elite from the elite, they share values that lead them to parallel legislative desires in their policies.

    Would we be better off if no two of the three branches could be located in the same time zone? Like wise no cabinet departments should be located in the same state. Less elite that way. I’d love to see one of the presidential candidates promise not to nominate anyone to SCOTUS who had attended Harvard or Yale. Their record over the last quarter century is not enviable.

    We have also become much more of a go along to get along society. William McChesney Martin had no problem taking the punch bowl away just as the party was getting going because that was his duty. And in the decade after almost all fit American males had been in the military, it was understood that one did one’s duty, even if it wasn’t pleasant and didn’t win friends. Because the lives of others depended on you doing your duty. I don’t sense that same vibe today.

  4. btw, the Federal Reserve does not get its paycheck from the Federal government. It’s the other way around. Don’t believe me? Look in your wallet. I remember holding Silver Certificates and U. S. Treasury Notes as currency. Now they’re collector’s items. The folks at the Fed also do not pay into Social Security, they have their own, far superior, retirement system. It will be the last pension in America.

  5. Mrs Davis, correct me if I’m wrong, but doesn’t the Fed get its authority to print money from past legislative authority and not overturned by the courts?–in other words from the government. The pay for Fed workers, it seems to me, comes from the Treasury department in the form of checks printed by Treasury–again part of the government. I not only remember silver certificates but silver dollars jangling in my pockets when I was much younger. Regarding the Fed’s pension, how was that established if not by government or government not objecting to its existence?

  6. Morgan,

    I’m not sure what your point is. The Fed was indeed created by the government but it is only minimally accountable to the government. The pay of Fed employees does not come from the Treasury, it comes from the profits the Fed makes. And the Fed is very profitable. That’s why in a government shut down the Fed would continue to operate. I have no idea how the pension was established but I don’t know what difference it makes. The Fed is unaccountable.

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