Thursday, September 2, 2010

Fed: Economics Bloggers Are Stupid

'Like a mad aunt, the Fed is slowly losing its marbles. Kartik Athreya, senior economist for the Richmond Fed, has written a paper condemning economic bloggers as chronically stupid and a threat to public order.

Matters of economic policy should be reserved to a priesthood with the correct post-doctoral credentials, which would of course have excluded David Hume, Adam Smith, and arguably John Maynard Keynes (a mathematics graduate, with a tripos foray in moral sciences).

“Writers who have not taken a year of PhD coursework in a decent economics department (and passed their PhD qualifying exams), cannot meaningfully advance the discussion on economic policy.”

Don’t you just love that throw-away line “decent”? Dr Athreya hails from the University of Iowa.

“The response of the untrained to the crisis has been startling. The real issue is that there is an extremely low likelihood that the speculations of the untrained, on a topic almost pathologically riddled by dynamic considerations and feedback effects, will offer anything new. Moreover, there is a substantial likelihood that it will instead offer something incoherent or misleading.”

You couldn’t make it up, could you?'





W. E. Messamore,
Editor in Chief, THL
Articles | Author's Page

That Impotent Rally

If there is any question about the status of the conservative movement, it could be found in Glenn Beck’s “Restoring Honor” rally: it is as alive and kicking as Ronald Reagan himself. Too soon? Either way, despite estimates of hundreds of thousands attending Beck’s rally last Saturday, there was nothing on display to imply that American conservatism has any long-term usefulness.

More than anything, it showed the triumph of "liberalism" over everything in the country, even the purported conservative movement itself.

Heeding criticism that the rally could only be political in nature, the Mormon Beck made it about “god.” Only keynote speaker Sarah Palin, whose presence was derided as proof that the event would just be a Republican rally, treaded into the political muck.

The insufferable opening prayer, led by a supposed descendent of Mayflower passengers, alongside a rabbi and supposed descendants of the Indians er, Native Americans at Plymouth Rock, included a petition about Quaker William Penn and this beauty:

“And you, O God, called us to repentance when we did not live up to our creed, and we did not treat everyone as equal. But Lord, we found out that you are a God of forgiveness, you are a God of covenant, you are a God of restoration, you are a God of healing and you have healed us.”

I’m no professional theologian, but if I understand that correctly, Americans didn’t learn about the forgiveness of God by reading the Bible’s account of Christ’s sacrificial death but only after we had enslaved the blacks and broken our treaties with the Ind-. . . Native Americans. Was this conservative Christianity or the liberal gods of collective guilt and multiculturalism?

This display of multiculturalism isn’t new and it isn’t even unique for Beck. In May, the radio and TV host dedicated one of his “Founders Fridays” programs to the forgotten black founders, a pathetic display of unwatchable political correctness.

That so many conservatives lap up this god constructed in the image of America only proves that the liberals have won the race card war. Or as James Edwards says at Alternative Right:

“. . . a conservative movement as willingly impotent as the crowd that came to DC on Saturday can’t go on much longer. At some point it’s going to dawn on them that no matter how much they grovel to MLK and praise his holy name, or how many ‘conservative’ imams they pack their podium with, they still get called racists and Nazis, and their country just keeps slipping further down the tubes.”

So what was the point of this event? Did we restore honor? Did we worship the god of our imaginations? Has anyone bothered to ask how ironic was it that someone like Beck, who is calling for an end to big government, chose to have his event at the Lincoln Memorial, a monument to a man who knew a thing or two about centralization?

A better question, one that should have been asked, is what the Republicans will do after the November midterm elections, where they are poised to either retake the House or at least make inroads.

The clarion call of the Tea Party over the past year has been “Cut spending!” The right course to be sure, but Pat Buchanan asks what cutting spending really means:

“Where are the victorious tea party Republicans going to cut?

“According to USA Today, 50 million Americans are on Medicaid, and perhaps an equal number on Medicare and Social Security. Which of these three will tea party Republicans cut, when Republicans are already denying Democratic charges that they plan to raise the retirement age for Social Security? . . .

“Are Republicans going to go after other entitlements — veterans benefits, earned income tax credits, food stamps — which now go to 41 million Americans, or unemployment benefits that run for 99 weeks?

“The big remaining items in the budget are interest on the debt, which must be paid, and war and defense. But Republicans are more likely to be supportive of Obama’s rebuilding a military ravaged by war, and staying the course in Iraq and Afghanistan, than are Democrats.

“Obama’s budget commission will surely come in with tax increases on personal incomes, perhaps also for Social Security and Medicare. But the GOP cannot sign on to these and go home again.”

The Republicans only stand to benefit from an event like Beck’s “Restoring Honor,” an event celebrating America’s civil religion, one that obviously resounds with the Republican base.

The only question is how long it will take for conservatives and Tea Partiers to realize that to “restore honor” or restore the republic for that matter, will take more than a few hours of feel-good entertainment and self-indulgence.

It will require hard questions like those above as well as a healthy dose of willpower.

If not, “honor” will only be an afterthought.



Carl Wicklander,
Regular Columnist, THL
Articles | Author's Page | Website

An independent conservative’s view of gay marriage

My good friend, colleague, and partner Les Carpenter over at Rational Nation USA just published an excellent opinion editorial over at The Daily Caller on gay marriage. Under discussion is the proper role of the state, and particularly the impotence of democracy- which is to say, the inability of simple majorities to justify violating individual liberties on the basis of their numerical superiority:

"The Constitution is a contract between the people and their government. One of its primary aims is to protect vulnerable minorities from the tyranny of the majority. This is of particular note in California, where voters rejected gay marriage at the ballot box. Can a majority deny an individual the right to peaceably live his life as he sees fit?

My simple answer is no. If your answer is yes, then who is to say that your lifestyle, religion, or ethos will not be next?"




W. E. Messamore,
Editor in Chief, THL
Articles | Author's Page

Wednesday, September 1, 2010

Silver Booming Whichever Way Economy Turns

'Silver, the precious metal most used in industry, is attracting investors betting on both faster and slower economic growth as prices extend the longest run of quarterly gains in three decades.

Doubling as a store of value for buyers concerned about the economy and as an industrial material for those bullish on growth, silver is outperforming metals from copper to zinc this year and keeping pace with gold. It will rise as much as 15 percent to $22 an ounce before December, from $19.145 today, according to Daniel Brebner, an analyst at Deutsche Bank AG whose fourth-quarter outlook was accurate to within 0.7 percent.

While the Federal Reserve warned last week that financial conditions are “less supportive” of growth, investors held a record amount of silver in exchange-traded products backed by the metal, Barclays Capital data show. Options giving traders the right to buy the metal at $25 before Nov. 23 are the most widely held on the Comex in New York.

“Silver is really attractive because you have strong investment demand and strong fabrication demand,” said Jeffrey M. Christian, the managing director of CPM Group, a research company in New York. Silver rose 68 percent since he recommended buying the metal in a Bloomberg interview in October 2008. “You buy gold when you think the world is going to hell in a handbasket. You buy copper when the economy is booming. In between those two, if you’re a bit confused, you buy silver.”'



W. E. Messamore,
Editor in Chief, THL
Articles | Author's Page

Why I Don't Own A Television

My good friend, colleague, and former schoolmate Ben Bryan recently wrote an excellent short post explaining his decision not to purchase a television for his new apartment as he starts graduate school this Fall:

"It's simple: I want to ask fundamental questions about reality and human experience and that becomes more difficult in proportion to the amount of trivial noise I allow into my life, and there is quite possibly no greater source of trivial noise in twenty first century life than the television. There are few activities which breed so much passivity, both of body and intellect, as watching television."

Visit the original post to read an excellent quote Ben includes by 20th century Thomistic philosopher Josef Pieper.

PS: I'll be moving out of the Young Americans for Liberty internship house at the end of this week and getting my own apartment by myself for the first time in my life... and I will definitely NOT be getting a television.


W. E. Messamore,
Editor in Chief, THL
Articles | Author's Page

The Myth of Equality

"In 21st century America, institutional racism and sexism remain great twin evils to be eradicated on our long journey to the wonderful world where, at last, all are equal.

"What are we to make, then, of a profession that rewards workers with fame and fortune, yet discriminates ruthlessly against women; an institution where Hispanics and Asians, 20 percent of the U.S. population, are neither sought after nor widely seen.

"In this profession, white males, a third of the population, retain a third of the jobs. But black males, 6.5 percent of the U.S. population, have 67 percent of the coveted positions — 10 times their fair share.

"We are talking of the NFL.

"In figures reported by columnist Walter Williams, not only are black males 77 percent of the National Basketball Association, they are 67 percent of the players in the NFL.

"Yet no one objects that women are not permitted to compete in the NFL. Nor do many object to the paucity of Asian and Mexicans, or the over-representation of blacks, even as white males dominate the National Hockey League and the PGA.

"When it comes to sports — high school, collegiate or professional — Americans are intolerant of lectures about diversity and inclusiveness. They want the best — the best in the NFL, the best in the NBA, the best at Augusta, the best at Wimbledon, the best in the Olympics, the best in the All-Star Game, the World Series, the Super Bowl."


Read the rest at The American Conservative.




Carl Wicklander,
Regular Columnist, THL
Articles | Author's Page | Website

Tuesday, August 31, 2010

Silver Circle Contest Now Through Friday!

So the contest I launched at the end of July was such a huge success that I'm doing a second one for this week only and giving you another chance to win free, inflation-proof silver! As this libertarian website edged close to 400 subscribers, I didn't want to simply pass it and end up at 405 subscribers- I wanted to blow way past it, and you helped me do it!

With almost 80 new subscribers from the last contest, we're now in striking range of blowing past 500 if we can duplicate the results we got one month ago! If we can get there, it will truly make The Humble Libertarian one of the premier political blogs on the Internet and set us up for some great success promoting the libertarian ideas and activism that I have planned for the Fall.

I'm also doing a second contest because multiple people contacted me right after the contest who were disappointed that they missed the deadline; and because The Silver Circle Movie project was so impressed with the results of the contest, that they too wanted to give you a chance to win free silver!

Here's what I'm giving away:


Three Silver Circle Comic Books


Tyranny, explosions, monetary mayhem, romance and rebels. "The Chase" is a teaser chapter for "Silver Circle" an upcoming independent, animated feature film and graphic novel. This limited edition book (only 500 printed) has been signed by artist, Jackie Musto. More information here.


And a .999 Fine Silver,
1 oz. Silver Circle Coin


This elegant one-ounce, commemorative movie coin is made of inflation-proof, fine silver. Take just five minutes and enter the contest now for a chance to win it!


How To Enter

The deadline for entry is at the end of the day on Friday, September 3rd. That means you only have four days to enter! I will be drawing an e-mail address at the end of the day on Wednesday, Thursday, and Friday for each of the three comic books. That means if you enter early, your chances of winning a prize go way up, so enter now!

At the end of the day on Friday I will draw from the pool of entries for the 1 oz. fine silver coin. There are two simple, easy, and quick ways to enter in the drawing:

1. Subscribe to The Humble Libertarian's free daily updates, which deliver a summary of all this blog's articles to your inbox each day. Subscribe by entering your e-mail below and hitting subscribe. You'll get an e-mail notification from Feedburner (my subscription service)- don't forget to open this e-mail and activate your subscription!

Enter your email address:



2. E-mail
your friends, family, co-workers, etc. (be sure to carbon copy me!) to tell them about The Humble Libertarian with a link to this contest. You'll get one entry for each person you e-mail (limit of 5)- so the people who e-mail five of their friends will be the ones most likely to win the comic books or the silver coin!


The Legal Stuff
  • I will need a name and shipping address for winners so that my sponsor can ship you your prizes, and when I announce the winners on this blog, I will announce them by first name and state or city only.
  • I will be contacting you at the e-mail address you make available to me via either of the two methods of entry above. So if you subscribe to my daily updates or carbon copy me to e-mails you write to your friends about this blog and its contest- be sure to use an e-mail address where I can reach you to announce that you've won.
  • I reserve the right to amend the terms of the contest as necessary. I'm sure that won't happen (and so far hasn't for the four contests I've run here), but it never hurts to say so in writing just in case.

So what are you waiting for? Start racking up those entries!

Last month, I found that the people who won were the people who had the most entries. Take just five minutes out of your day today and you might just find a fine silver coin in your mailbox.



W. E. Messamore,
Editor in Chief, THL




And now a word from our sponsor:


Maybe Gary Johnson for a Change?

'Does anyone really think that Mitt, Sara, Newt, Hillary, Barack or any of those old party types will actually shrink government's role in our lives if they lead the next government? I don't. They may rearrange the Legos, but the toy Tower of Pisa will still eventually topple over and our lives will need to be picked from the rubble.

I am not suggesting Gary Johnson is the answer, time will tell. But I do know the question. Do "we the people" want actual change or just the continued decline into ever larger government controlled chaos?'


W. E. Messamore,
Editor in Chief, THL
Articles | Author's Page

GOP takes BIG lead on generic ballot

'The record support for Republican congressional candidates is a clear rebuke to the last nineteen months of radically consolidating Federal power, socializing multiple U.S. industries, and spending tax dollars at unprecedented levels (which means the deficit is even higher than it was when the last president was spending tax dollars at unprecedented levels). When Americans voted for change in 2008, they meant the curtailment of a runaway executive branch in Washington, not a drastic reordering of the entire country along the lines of centrally-planned, European-style welfare states.

While the Democrats' miscalculation has very likely cost them the 2010 election, the Republicans will only hold on to and strengthen their majority if they heed the voice of the people, and set about the work of curtailing the size, role, and influence of Washington. An elephant may never forget, but any Republican gains for 2010 will be short-lived if they forget what cost their party the 2006 and 2008 elections- uncritical support for the Washington establishment's exploding deficits, violations of civil liberties, and pro-war-any-war foreign policy.

The GOP may be tempted to party like it's 1994, but let's just hope it isn't tempted to spend like it's 2005.'



W. E. Messamore,
Editor in Chief, THL
Articles | Author's Page

Friday, August 27, 2010

Daniel Larison Takes on the "Mosque"

". . . what I find remarkable about this mosque controversy is how blatantly, narrowly political the opposition to this particular construction project has been. It has been an exercise in manipulating public anger and using it for the purpose of waging an ostensibly anti-Islamist political campaign by organizing against harmless Muslims and their organizations.

"A distinctive American culture isn’t under threat from this mosque, the Cordoba Initiative or Imam Abdul Rauf. Rauf and those like him do represent a threat to lazy conservative anti-jihadism that treats every Muslim to 'the right' of Ayaan Hirsi Ali as a potential fifth columnist and would-be enforcer of creeping shari’a.

"Likewise, Rauf must not say that American policies were accessories to the crime on 9/11, because it is still not really appropriate for any 'good American,' regardless of religion, to say that. Apparently, it doesn’t matter if the statement is true or even debatable. It isn’t enough if Muslims peacefully practice their religion, reject violence and embrace their new countries, but they must also become pro-government loyalists. Perhaps if Rauf really wanted to show how moderate he was, he would provide token support for the next U.S. attack on a Muslim country."



Read the rest at The American Conservative.



Carl Wicklander,
Regular Columnist, THL
Articles | Author's Page | Website