Why recessions ended relatively quickly before the government tried to manage the economy (Video)

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Murray N. Rothbard explains in 3 minutes why it is that when economic downturns happen the government should just get out of the way. Let prices correct, the pain will be short and sharp but then life will go on, typically in a more prosperous manner.

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Washpo: What would happen if Congress split into four parties? This. (Plus some really cool maps)

4 party House from WP

Kudos to Phillip Bump at the Washington Post for this one.

We at ACC often talk about the fracturing going on within the 2 main parties. The Tea Party for instance is a de facto party within the GOP which the author takes into account. He also identifies an increasingly active fault line within the Democratic Party. (We think he’s wrong on who falls on which side of this line to some degree however.)

A thought experiment to be sure, but one which isn’t that “out there.” Very interesting.

(From The Washington Post)

If we assign members of Congress to political parties based on the spending votes, we end up with four parties. The Liberals bucked the Democratic president to oppose the spending package. The Democratsvoted for it. The Republicans followed Boehner and McConnell’s lead. TheConservatives didn’t. It gives us maps of the House and Senate that look like this, with the actual party composition underneath. (Note that this is only based on 1) people who voted on the spending package and 2) are returning to the 114th Congress.)

Click here for the article.

What Elizabeth Warren Missed in Her Big Bank Tirade

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This is one of the frustrating things about people who I believe legitimately care about reining in crony capitalism on what is called the “Left” in this country. They seem always to want more of the thing which enables crony capitalism – government.

Crony capitalism can not happen without government. Government is the lever which cronies use to expand their power and wealth.

My friends on the “Left” fret about “corporations taking things over” if government is reduced. As if government is some kind of counterweight to corporate power. It is not. For the most part government is a tool of special interest power (and about equally the reverse). It’s a partnership.

The key is to decentralize. Diffuse the power in Washington (and other capitals) and move it as much as humanly possible back to real live humans.

We don’t really need much government at all.

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Duopoly: ‘The men who ran the Republican and Democratic governors’ associations competed fiercely. Now, they’re going into business together.’

bipartisan ccIn the wake of the Cromnibus debacle, where Republican congressional leadership pretty much completely turned their backs on “wave voters” for short term gain, (and Democratic leaders did the same) multiple readers at ACC have asked, “Well now what?”

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Ron Paul: All I want for Christmas is a (real) government shutdown

If only.

If only.

By Ron Paul

The political class breathed a sigh of relief Saturday when the US Senate averted a government shutdown by passing the $1.1 trillion omnibus spending bill. This year’s omnibus resembles omnibuses of Christmas past in that it was drafted in secret, was full of special interest deals and disguised spending increases, and was voted on before most members could read it.

The debate over the omnibus may have made for entertaining political theater, but the outcome was never in doubt. Most House and Senate members are so terrified of another government shutdown that they would rather vote for a 1,774-page bill they have not read than risk even a one or two-day government shutdown.

Those who voted for the omnibus to avoid a shutdown fail to grasp that the consequences of blindly expanding government are far worse than the consequences of a temporary government shutdown. A short or even long-term government shutdown is a small price to pay to avoid an economic calamity caused by Congress’ failure to reduce spending and debt.

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Univision’s News Anchor: Barack Obama is “establishing his power” on race and immigration

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The assumption is that many illegal immigrants, one way or another will eventually vote. The assumption is also that since a great number of immigrants streaming into the US from Latin America are both uneducated and familiar with political systems based on patronage that these people will necessarily vote for Democrats. That they will fall easily into the urban political machines and become part of the “masses” (I hate that term) which feed the system.

My bet is that it doesn’t quite work out that way. I think there are many more factors in the “emerging Hispanic vote” than are widely understood. We’ll see how it shakes out soon enough.

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The New York Times likes Jeb Bush, Just like Chris Matthews likes Jeb Bush

I wonder why they “like” the Republican so much?

Just think, if Jeb were president with Boehner in the House and McConnell in the Senate wouldn’t that be great? Statist Republican wishywashies holding America’s hand all the way to Hell. The 3 Amigos. What fun we’ll have.

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Smotherers of Invention: Patent trolls, universities, and big companies are exploiting a broken system.

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Red tape and lawsuits, that is what defines a large part of business in America these days. There are too many lawyers. Too many laws. To many hoops. To many commissars. To much bureaucratic underbrush one must cut through with a machete just to do business.

It kills jobs. It kills growth. But the leaches get fat.

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