Archive for the ‘policy’ Category

I just saw a protestor screamjng, “Hands off my Medicare1”. OK I quess we can chalk that up to failures in our education system. At least FDR hid the Social Security Fraud as a type of insurance product in which your “contribution” was used to fund your retirement. Until they had to tell the truth and admit before the Supreme Court that it was just another tax (Heverling v. Davis 1937) and did not convey rights to the taxpayer.

Medicare was never sold to the public that way. It was promoted as our obligation to the elderly and funded by a payroll tax. Thus it became a direct transfer from the working to the retired. I would suggest that Medicare taxes should be sequestered in a separate fund that funds only Medicare . If it runs low, adjust benefits or tax level. It will be highly inteesting to see how much the children of the “Baby Boomer” will be willing to pay for their parents.

Hey maybe we can get a bunch of illegal aliens paying into the system to balance it oyt. /sarc

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“Confessions of a Greenpeace Dropout” author Patrick Moore (one of the co-founders of Greenpeace) argues there is no scientific proof humans caused global warming.

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Greenpeace co-founder Patrick Moore on what lead him to leave the organization.

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What did central bankers have to know and then be empowered to do in order to have avoided the housing bubble and economic fallout? Adam Posen is an External Member of the Monetary Policy Committee for the Bank of England, and a Senior Fellow at the Peterson Institute for International Economics. He spoke at the Cato Institute’s Monetary Conference held in November 2010.

The problem with his analysis is that he doesn’t differentiate between periods of healthy growth vs. periods of inflation (or other government policy) driven growth. That’s why he says not all booms are followed by busts. But it’s fairly easy to spot inflation-driven growth, so it’s also fairly easy to spot bubbles, despite what he thinks.

See my previous post on Monetary Policy, Housing and Other Bubbles and get the free book shown there.

Adam Posen Discusses Asset Bubbles, posted with vodpod

 

From Politizoid

Here are some suggestions:

1. Conduct strip searches. No health risks from x-rays, no need for pat downs, and no images not to be stored on computers and leaked to the internet. All you need is a flash light and a very observant set of eyes.

2. Designate official traveling garments. Easily removable slip-on shoes, gray skin-tight clothing with no pockets except for a special clear cover slot for your I.D. and boarding pass.

3. Require TSA agents to wear clown suits to keep everything light-hearted and to stop them from taking themselves so darn serious!

4. Once people are on the plane, handcuff them to their chairs to make sure no one can hijack the plane.

5. Install machine gun turrets near the cockpit. Just in case.

Okay, here are some serious suggestions:

1. Reject the notion that “random searches” translate into increased security.

2. Emulate the successes of Israel. Practice common sense profiling, hire behavior specialists to briefly question every passenger, and check passengers that do not pass initial screenings.

3. Be honest with the American people. Stop telling us that we have to give up privacy in order to ensure our security when the TSA’s own assessment tests consistently miss almost half of security breaches. Feeling safer does not make us safer.

4. Lose the attitude and stop treating passengers as if they are criminals. A little respect and common courtesy would go a long way.

5. Airports have the right to opt out of TSA screening in favor of private security after a two year period. Do it!

My suggestion: Let’s swap the duty assignments for the Border Patrol and the TSA. Maybe we could with all those TSA “agents” we could slow down and inconvenience persons actually breaking the law!

What the Federal Reserve is up to, and how we got here.

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