“A Disease of the Public Mind”

 

That is the title of a book about the first US Civil War that resulted in the assassination of President Lincoln. The soldiers in the South hated those in the North and vice versa. Northern soldiers have since been credited with undeserved virtue while Southern rebels were labeled racist enemies of the state, a moniker that still survives in the present day. But neither side was fighting over the abolition of slavery.

 

Trump’s opponents claim he will re-institute Jim Crow oppression, put black people back in chains, end democracy and put people in Hitler’s concentration camps. The continuous character assassinations, legal persecutions, numerous impeachments, unfounded accusations and insinuation caused what has been called Trump Derangement Syndrome (TDS), a disease of the public mind resulting in a recent assassination attempt.

 

Follow the Money
The Constitution the North and South agreed upon in 1788 enshrined the economic principles of Adam Smith’s Wealth of Nations, fostering equality under the law, individual sovereignty and limited government. Slavery was still too contentious an issue to settle. Starting in the next century the British led a moral crusade to eliminate slavery globally. While politically virtuous, Britain could afford to pay off slave owners and generally didn’t face the the vexing question for US plantation owners of whether freed slaves could support themselves and, if not, whether this would lead to murderous riots as had happened elsewhere. Abolition was a contentious issue everywhere slavery was practiced, typically with long drawn out steps to complete. But the long simmering political dispute that came to a head in 1860 wasn’t about abolition, but money. The federal government relied almost exclusively on tariffs raised in Southern ports – most of which went to northern states – on imports financed with the fruits of slavery, cotton exports.

 

Since the Civil War, limited government has given way to big government. The Democratic Party has created many dependent constituencies whose continued prosperity depends upon continuing Democratic power and largess: the bureaucracy, the government at all levels, teachers, labor leaders, academic educators and administrators, trial lawyers, government contractors, social security recipients and what are still euphemistically called journalists, among many others. The current Civil War is also about money. Trump has been in both political parties, fits in neither. But ”you are fired” represents an existential threat to Party members.

 

For contemporary Democratic politicians, almost all trained as lawyers, money beyond what is available by taxing the rich exists in banks, especially the Federal Reserve Banks, to be distributed according to the spoils system. For Republican politicians (but not RINOs), mostly former businessmen, prosperity comes from productive work and from savings productively invested. For those businesses and workers who are not on the receiving end of the spoils system, whose taxes pay for political largess, limited government is the only solution. There is very little middle ground.

Read more

What Happened to Serious Economic Policy Debates?

Economic policy determines whether economies, and hence citizen real income grows nationally and how that income is distributed. The invisible hand of a market economy guides investment to its most profitable, hence most productive uses. Not so for the heavy hand of the state. The Soviet Union saved and invested five to six times as much as the US, but productivity lagged and the economy eventually collapsed. Taxpayers have some control over “public” investment performance at, e.g., the small private level (condo, coop) but voter influence declines as the distance and size of the governing body increases. Making national investment policy even more difficult is the fact that even highly productive public investment may not pay off until well into the future. While rational economic policy would devolve decision-making and funding to the lowest possible level, the federal government’s lack of a hard budget constraint allows it to fund without accountability. The Constitution’s enumerated powers has proven an insufficient constraint on this perverse political incentive.

 

During President Trump’s term, pre-pandemic, real wages rose steadily at about 2% reflecting the steady real economic growth, but fell under Biden by over 2% due to inflation. Black unemployment and poverty fell under Trump, and continued to fall under Biden. While Trump proposed deep budget cuts, the Congress passed essentially the Democrats’ budget under both Ryan and Pelosi. Trump passed what in the ’60s under Kennedy was called a Keynesian tax cut, now called a “voodoo economics” supply-side tax cut for the rich to spur business investment, that worked essentially as planned.

 

Trump takes undue credit for the good performance during his term, for which the main stream media (MSM) accuse him of lying. Biden does the same, for which the MSM cheers. Independent voters favor Trump over Biden by 45% to 34% on the management of the economy. Numerous Democratic commentators have speculated that voter mistrust of Biden reflects FOX fake news popping up on TV sets uninvited to brainwash unsuspecting viewers.

Read more

Quote of the Day

Don Surber:

I will take a Trump over anyone because no one else will put America First and pledge his life, fortune and sacred honor to save ourselves from ourselves.
 
Trumpism without Trump is like Diet Coke without the Coke. Comportment doesn’t matter. Results do. To get those results, you need Donald Trump, not some spelling bee champion or a groovy governor. Maybe in 2028 we can elect one of them president but we need Trump now to remove the bananas from the Republic.
 
I want my country back. I want 1.4% inflation back. I want the car dealership in Kenosha back. I want my no wars back. I want my liberty back.
 
And I want those 20 million illegal aliens sent back.
 
If it takes a madman to do it, elect him. Out of chaos, freedom. If we must, we should build a pipeline from the Diet Coke plant to the White House and get it done.

The case for Trump.

Pugilists and Statesmen

Ads are being run against de Santis; he voted, they claim,  to increase the retirement age amidst other possible solutions.  He, like Ryan, are youngsters pushing their elders off cliffs; of course, some  might see politicians manfully taking on a long term problem.

These ads may be effective but with them mere discussions become toxic – the opposite of a statesman’s approach   Bush began with a high-powered, sensible committee; 9/11 intervened. Maybe they would have come up with nothing but it remains the problem it was well over twenty years ago.  How many policy debates follow the same pattern?

The problem is the context as well. Trump is pursued by truly demonic (and unconstitutional) opponents.  Ones who have sold us out for a few gold pieces to the environmentalists, the communists, the totalitarians, the. .  .   While they  take pleasure in making our futures carless, gasless, air conditionless, they embrace nihilism.  Indeed,  half the country seems in an intense sado/masochistic relation with their overlords.

In a petty way,  this ad poses a dilemma.  Our positions imply to the simple minded that either

a) we buy into the least statesman-like and most perilous of positions about our future in that policy area,
or
b) we buy into the most aggressive, constitution-be-damned, politically motivated of our opponents clown shows.
Neither has our long-run interests in mind; both personalize and trivialize policy in an increasingly serious world.

I had hoped de Santis would run and Trump wouldn’t:   I’d assumed Trump wouldn’t naturally take a statesman’s approach, more likely a pugilist’s, during the fallow period.  There was hope:  once elected he sometimes made good choices not traditionally considered winners.  But this toxic perspective that will affect him as well as de Santis, making a good solution less likely.  Surely no solution leaves the system untouched.   Well, probably the Democrats have one – print more money.