It is no secret that education in America has lagged, by international standards, for quite a few years. The liberals' answer is always the same: spend more money. I would argue that we have carried out a laboratory experiment, and have conclusively proved that more money is not the cure for whatever ails the education system. This chart, just produced by the Cato Institute, makes the point with beautiful simplicity.
I dub this Reynolds’ Law: “Subsidizing the markers of status doesn’t produce the character traits that result in that status; it undermines them.” It’s easy to see why. If people don’t need to defer gratification, work hard, etc., in order to achieve the status they desire, they’ll be less inclined to do those things. The greater the government subsidy, the greater the effect, and the more net harm produced.
The obviously unsustainable explosion in federal spending that the Democratic Congress has embarked upon since 2007 is the central issue of our time. Among other things, it is the genesis of the Tea Party movement. That which can't continue, won't; the only question is whether sane hands will take over the tiller and restore some sort of balance, or the federal government will crash in a fiscal disaster.
No one has been checking for detectable forms of voter fraud, let alone undetectable varieties. Convicting someone of this type of crime would require the perpetrator to voluntarily step forward and admit to the crime, because without photo ID, it is completely undetectable.
Still, despite the fact that we have found evidence of every detectable variety of voter fraud, our election officials are asking us to believe that the easiest, most undetectable and un-prosecutable variety of voter fraud doesn’t exist in a system that seems to invite it.
Since passage in 1993 of the National Voter Registration Act - aka "Motor Voter" - by the Democratic Congress that led to the 1994 GOP takeover, ACORN and a bunch of other radical liberal activists groups, many financed by George Soros, have been steadily growing their ability to increase vote counts for their candidates by stuffing ballot boxes with illegal votes on election day.
Most of the findings focused on a group called Houston Votes, a voter registration group headed by Steve Caddle, who also works for the Service Employees International Union. Among the findings were that only 1,793 of the 25,000 registrations the group submitted appeared to be valid. The other registrations included one of a woman who registered six times in the same day; registrations of non-citizens; so many applications from one Houston Voters collector in one day that it was deemed to be beyond human capability; and 1,597 registrations that named the same person multiple times, often with different signatures.
The Tax Foundation has released a State to State Migration Data calculator.
Mao Zedong, founder of the People's Republic of China, qualifies as the greatest mass murderer in world history, an expert who had unprecedented access to official Communist Party archives said yesterday.
Speaking at The Independent Woodstock Literary Festival, Frank Dikötter, a Hong Kong-based historian, said he found that during the time that Mao was enforcing the Great Leap Forward in 1958, in an effort to catch up with the economy of the Western world, he was responsible for overseeing "one of the worst catastrophes the world has ever known".
Mr Dikötter, who has been studying Chinese rural history from 1958 to 1962, when the nation was facing a famine, compared the systematic torture, brutality, starvation and killing of Chinese peasants to the Second World War in its magnitude. At least 45 million people were worked, starved or beaten to death in China over these four years; the worldwide death toll of the Second World War was 55 million.
Peter Wood and Ashley Thorne of the National Association of Scholars have compiled an absolutely great list of 37 books (plus a second list of six more difficult books) that they recommend for college "common reading" programs. The list follows up on the June 2010 NAS report on common reading programs. The NAS list of recommended books is included in "Read these instead: Better books for next year's beaches."
The boy had ordered a handheld laser pointer with green light on the Internet to use as a toy for popping balloons from a distance and burning holes into paper cards and his sister's sneakers. The boy's life changed when he was playing with his laser pointer in front of a mirror to create a “laser show,” during which the laser beam hit his eyes several times. He noticed immediate blurred vision in both of his eyes. Hoping that the visual loss would be transient and afraid of telling his parents, he waited 2 weeks before seeking an ophthalmic assessment, when he could no longer disguise his bad vision. His visual acuity was so poor in his left eye that he was only able to count fingers at a distance of 3 ft, and it was 20/50 in his right eye.
The idea that traumatised people, especially the victims of child sexual abuse, deliberately repress horrific memories goes all the way back to the 19th century and the theories of Sigmund Freud himself.
But now some experts are saying the evidence points the other way.
Professor Grant Devilly, from Griffith University's Psychological Health research unit, says the memory usually works in the opposite way, with traumatised people reliving experiences they would rather forget.
"It's the opposite. They wish they couldn't think about it," he said.
In a briefing to the US Supreme Court, Professor Richard McNally from Harvard University described the theory of repressed memory as "the most pernicious bit of folklore ever to infect psychology and psychiatry".
A firm belief in the individual's ability, ideas, courage, will and a reliance on one's own resources brought the US to the top. The American dream promised everyone the chance of upward mobility -- literally from rags to riches, from minimum wage to millionaire. The individual's pursuit of happiness was seen as the crucial foundation for the well-being of society, rather than the benevolent state which cares for its subjects -- and certainly not the welfare state, which provides a social safety net for its citizens.
In the American system, every man was responsible for himself -- in good times and bad. No one could count on government assistance, not even the wannabe millionaire who did not make it and ended up homeless.
For many US citizens, the financial crisis has turned the American dream into a nightmare. Millions of Americans are struggling with high levels of debt, and not only because they bought overpriced houses during the housing boom and can no longer afford their mortgages. Often families are burdened with loans they took out during better times for cars, furniture, electronic gadgets or university tuition.
Both the behavior of the American government and the Federal Reserve makes one thing clear: They do not see the solution to the US's economic woes in a return to traditional American virtues. Obama is not calling for the unleashing of market forces, as Ronald Reagan once did during an equally critical period in the early 1980s. On the contrary: Obama, driven by his own convictions and advised by economists who believe in government intervention, has taken a path that leads far away from those things that catapulted America to the top of the world in the past century.
The Obama administration's current policies rely on more government rather than personal responsibility and self-determination. They are administering to the patient more, not less, of exactly those things that led to the crisis.
I have argued that the real national debt is about $130 trillion. Let’s say I’m being pessimistic. Forbes, in a 2008 article, came up with a lower number: $70 trillion. Let’s say the sunny optimists at Forbes got it right and I got it wrong.
For perspective: At the time that 2008 article was written, the entire supply of money in the world (“broad money,” i.e., global M3, meaning cash, consumer-account deposits, checkable accounts, CDs, long-term deposits, travelers’ checks, money-market funds, the whole enchilada) was estimated to be just under $60 trillion. Which is to say: The optimistic view is that our outstanding obligations amount to more than all of the money in the world.
Global GDP in 2008? Also about $60 trillion. Meaning that the optimistic view is that our federal obligations outpace the entire annual economic output of human civilization.
HRN: Do you think hyperinflation in the US is possible?
Dr. Marc Faber: The Federal Reserve doesn’t want to create a hyperinflation. I mean Mr. Bernanke may be incompetent, but he’s not an evil person per se. He just doesn’t have sufficient knowledge to be a central banker, in my opinion, and has misguided economic theories, but he’s not evil in the sense that he would not wish to debase the currency entirely. Clearly, if the US economy moves into a double dip recession and you have deflationary pressures reappearing, in the housing market, for example, and if the S&P drops from roughly 1,100 down to say 900, then I think further monetization will happen. I believe that because of the unfunded liabilities and the deficits of the US government, which will stay high for a long time; sooner or later there will be more monetization anyway.
It’s more a question of when it will happen rather than if it will happen. For sure it will happen but will it happen right away, say in September, or maybe only in two years time? Eventually, before everything collapses we’ll have an inflationary bout which may not be so strongly felt in consumer prices, as in stocks or housing or precious metals prices or in commodities like oil; or inflation could occur mostly in foreign currencies, in other words, in Asia where the currencies could appreciate.
U.S. President Barack Obama and his administration weakened the country’s economy by seeking to foster growth instead of paying down the federal debt, said Nassim Nicholas Taleb, author of “The Black Swan.”
“Obama did exactly the opposite of what should have been done,” Taleb said yesterday in Montreal in a speech as part of Canada’s Salon Speakers series. “He surrounded himself with people who exacerbated the problem. You have a person who has cancer and instead of removing the cancer, you give him tranquilizers. When you give tranquilizers to a cancer patient, they feel better but the cancer gets worse.”
Today, Taleb said, “total debt is higher than it was in 2008 and unemployment is worse.”
