June 2011 – Page 11 – Chicago Boyz

Just Because I Like It

June 5, 2011 by David Foster

Red Wing by The Steel Wheels.

Recorded at a Blue Moon House Concert in Oklahoma City.

Women in the Republic of Virtue –
In revolutions, women tale up the flag and even the sceptre: every arm and voice is needed. So among the revolutionaries were the voices of women like Mercy Otis Warren. During the following years, women’s roles in the home as educators and molders was emphasized: a “republic of virtue” required both a knowledgeable and a moral public. Perhaps the most telling invasions of twentieth century tyrants were private – as the private became the public. That insertion appalls us, as the communist regime “becomes” family and church; the patriarch’s voice, visage enters the public’s mind, casting a weighty shadow. We think of the one-child rule of China, but the valuation was little different in the Communist underground in the west, encouraging promiscuity and devaluing marriage, denigrating child-bearing and emphasizing abortion.

Why I like Coolidge and why we are not recovering.

June 3, 2011 by Michael Kennedy

I spent the past six months reading about Calvin Coolidge. I was interested in why the 1920s were a period of great prosperity and why the severe recession/ depression of 1920-1921 was so short. At its peak, there was 25% unemployment. Gross domestic product dropped by 6.9% in one report.

The recession of 1920–21 was characterized by extreme deflation — the largest one-year percentage decline in around 140 years of data.[2] The Department of Commerce estimates 18% deflation, Balke and Gordon estimate 13% deflation, and Romer estimates 14.8% deflation. The drop in wholesale prices was even more severe, falling by 36.8%, the most severe drop since the American Revolutionary War. This is worse than any year during the Great Depression (adding all the years of the Great Depression together, however, yields more severe deflation). The deflation of 1920–21 was extreme in absolute terms, and also unusually extreme given the relatively small decline in gross domestic product.[2]

The Harding-Coolidge administration took office in March 1921 and the recession was over in months. Why ? Governments were smaller then and had less influence on the economy. The Wilson Administration has been widely described as the equivalent of a fascist regime with its war time controls and economic meddling. Again from the Wikipedia article: