Politics

Government, the things we do together.

by

cal

Barack Obama is fond of describing government this way.

As President Obama said the other day, those who start businesses succeed because of their individual initiative their drive, hard work, and creativity. But there are critical actions we must take to support businesses and encourage new ones that means we need the best infrastructure, a good education system, and affordable, domestic sources of clean energy. Those are investments we make not as individuals, but as Americans, and our nation benefits from them.

That was a reaction to Romney’s criticism of his silly comment.

I prefer the quote attributed to Washington.

“Government is not reason, it is not eloquence,—it is force! Like fire, it is a dangerous servant, and a fearful master; never for a moment should it be left to irresponsible action.”

Now, we see a new imposition.

The Department of Labor says its so-called fiduciary rule will make financial advisers act in the best interests of clients. What Labor doesn’t say is that the rule carries such enormous potential legal liability and demands such a high standard of care that many advisers will shun non-affluent accounts. Middle-income investors may be forced to look elsewhere for financial advice even as Team Obama is enabling a raft of new government-run competitors for retirement savings. This is no coincidence.

Labor’s new rule will start biting in January as the President is leaving office. Under the rule, financial firms advising workers moving money out of company 401(k) plans into Individual Retirement Accounts will have to follow the new higher standards. But Labor has already proposed waivers from the federal Erisa law so new state-run retirement plans don’t have the same regulatory burden as private employers do.

Read more

What I Saw at the Revolution.

by

Zulu Dawn

News from the front today. First, Glenn Reynolds explains where Trump came from.

The thing is, we had that movement. It was the Tea Party movement. Unlike Brooks, I actually ventured out to “intermingle” with Tea Partiers at various events that I covered for PJTV.com, contributing commentary to the Wall Street Journal and the Washington Examiner. As I reported from one event in Nashville, “Pundits claim the tea partiers are angry — and they are — but the most striking thing about the atmosphere in Nashville was how cheerful everyone seemed to be. I spoke with dozens of people, and the responses were surprisingly similar. Hardly any had ever been involved in politics before. Having gotten started, they were finding it to be not just worthwhile, but actually fun. Laughter rang out frequently, and when new-media mogul Andrew Breitbart held forth on a TV interview, a crowd gathered and broke into spontaneous applause. A year ago (2009), many told me, they were depressed about the future of America. Watching television pundits talk about President Obama’s transformative plans for big government, they felt alone, isolated and helpless.

Bingo !

Now, we have Act Two. Will Hillary’s “Thin Blue Line of rust belt states hold ?

Lt William Vereker, on a routine patrol from the British camp at Isandlwana looked down into the Ngwebeni valley to find it boiling with the hitherto unseen main Zulu Army of 20,000 men.

As in 1879 the political scouts are rushing back to inform the camp of the unanticipated development. Shocked but still undaunted, the pundits remain confident that the threat can be stopped by the Democrat “Blue Wall” in the industrial and upper Midwest. There, media artillery and the technologically superior liberal ground game are expected to hold the line against the angry white voter.

Read the rest, as Glenn says.

Now, we have the horrified GOPe. To Peter Wehner, Trump is the scary black face in the forest.

It is stunning to contemplate, particularly for those of us who are lifelong Republicans, but we now live in a time when the organizing principle that runs through the campaign of the Republican Party’s likely nominee isn’t adherence to a political philosophy — Mr. Trump has no discernible political philosophy — but an encouragement to political violence.

Mr. Trump’s supporters will dismiss this as hyperbole, but it is the only reasonable conclusion that his vivid, undisguised words allow for. As the examples pile up, we should not become inured to them. “I’d like to punch him in the face,” Mr. Trump said about a protester in Nevada. (“In the old days,” Mr. Trump fondly recalled, protesters would be “carried out in a stretcher.”)

OMG! What happened to “hit back twice as hard!” or “Bring a gun to a knife fight?” Rudeness will not be tolerated in the GOPe.

Read more

More on where Trump came from.

by

There is increasing panic among the GOPe about the possibility that Trump could win the nomination. The “Anyone But Trump” fixation is obsessing the usual suspects.

Megan McArdle: As I see it, there are basically three strategies you can follow:

Anyone but Trump: It doesn’t matter, as long as you vote against Trump. Democrats in open primary states can play, too.
Vote the leader: Pick the winner in your state, and force the nomination selection to the convention.
Attempt to generate an actual alternative front-runner by voting for the national poll leader, or the most plausible candidate — probably Marco Rubio, given that he seems to have the most support from the highest number of GOP coalitions, but possibly Ted Cruz, since he appears to be the next most appealing to Trump voters.
I’ll just start by asking: Which of these would someone follow if their main priority is to defeat Trump? Or am I thinking about it all wrong?

Sean Trende: No, I think you have it basically right. I actually think that, for now, their best chance lies behind Door No. 2.

Why are the elites so obsessed with keeping Trump away from the levers of power ? This is not limited to the USA. Germany is having its own voter revolt.

The anti-immigrant AFD – Alternative for Germany – party has scored massive gains in municipal weekend elections which reflect growing public anger at the refugee policies of Chancellor Angela Merkel.
The polls for councils in the state of Hesse saw the AFD make significant inroads on the two main established parties – Merkel’s conservative CDU and the centre-left SPD – to come in third with 13.2 percent of the vote, knocking the environmental Greens into fourth place.
Frankfurt CDU politician Markus Frank said: ‘The preliminary result of the AfD is frightening. I had expected a maximum five percent.’

Where does this voter anger come from ?

Maybe it is one manifestation of the Principle Agent Problem.

Read more

The Romney Speech

by

romney

I did not watch Romney’s speech attacking Trump but have seen short excerpts and comments about it. I think it was a catastrophic mistake by Romney and has ended any future he might have in the GOP. Had he stayed neutral, with perhaps some comments about what is important in a Republican president, his role might be intact. But nobody, especially Mitt, can out insult Trump. It was a foolish lapse of judgement.

I read a blog every day written by a retired Foreign Service Officer, who calls it Diplomad 2.0, and it has commenters from other diplomatic services. His reaction to Romney’s speech is interesting.

I like Romney. I think him a decent man, and one who would have been a very good president. Our country and the West would be in much better shape today if Romney had won in 2012. I had a very minor role on Romney’s foreign policy team and did my best from my lowly position to get the campaign to sharpen its message on foreign affairs, especially on Benghazi–to no avail.

What follows is revealing in the explanation for Romney’s failure as a candidate.

His campaign was dominated by “the oh-so-clever-ones” who think things to death, and analyze until they paralyze. The papers we sent up to Romney were wordy “on the one hand, but on the other hand” expositions of little to no use in a campaign. They read like something written for a transition team, not a campaign team. It was impossible to get Romney’s main handlers to recommend that he go after Obama and Clinton hard on Benghazi and the rest of the misadministration’s foreign policy disasters. They thought that was “too politicizing” and “unbecoming.” Well, what happened, happened.

Romney now comes out and attacks the probably GOP nominee in terms he would never have used on Obama and probably Hillary.

The result ?

The punchline. I had been sitting uncomfortably on the fence re the GOP candidates. After listening to the Romney speech and the other “establishment” types, and hearing the anchor pundits, the pundit anchors, and all the other assorted wise ones, I have jumped off the fence. I have landed in Trump’s farm. He is not perfect, far from it. I might even change my mind, but for now I support Trump.

I don’t know if Trump will be terrible; I do know that what we have right now is horrible beyond words. I can’t bear the thought of a Hillary presidency.

I kind of feel the same way. Trump’s weakest point is foreign policy and here is a guy with years of experience all over the world, who thinks he is better than Hillary and might be OK.

The Transformation of Economics.

by

A great piece in the Wall Street Journal today about what has happened to Economics and Economics education.

I took an Economics class in college in 1957 and it changed me to a Republican. My first vote was for Richard Nixon in 1960. My family was furious as they thought we were related to the Boston Kennedys and they had always been Democrats. I wonder if an Economics class would have that effect today?

And that political economy and my assessment of it has changed over a career spanning more than half a century. Here are five developments I would emphasize:

I agree with his appraisal.

1. Diminishing returns to research. A core economic principle is the Law of Diminishing Returns. If you add more resources, such as labor, to fixed quantities of another resource, such as land, output eventually rises by smaller and smaller amounts. That applies—with a vengeance—to academic research. Teaching loads have fallen dramatically (although the Education Department, which probably can tell you how many Hispanic female anthropologists there are teaching in Arkansas, does not publish regular teaching-load statistics), ostensibly to allow more research. But the 50th paper on a topic seldom adds as much understanding as the first or second.

This has been characteristic of Medicine, as well as other academic subjects.

Emory University’s Mark Bauerlein once showed that scholarly papers on Shakespeare averaged about 1,000 a year—three a day. Who reads them? How much does a typical paper add at the margin to the insights that Shakespeare gave us 400 years ago?

That isn’t all he has shown.

The attitude touches the President’s favorite pastime. Tevi Troy reported in Commentary how much Obama enjoys television, particularly SportsCenter and the middlebrow series Homeland and Mad Men. The New York Times added Breaking Bad and The Wire in its article “Obama’s TV Picks: Anything Edgy, with Hints of Reality,” and while it warned of the foolishness of “psychoanalyzing” a president based on “the books he reads or the music he listens to or the television shows he watches,” the story mentions not a single book. One would expect Marxists, feminists, queer theorists, post-colonialists, anti-imperialists, and media theorists to chide Obama for his bourgeois, masculinist taste, but as far as I know they have remained silent.

Obama’s taste runs more to sports and rap music.

Read more