American Elephants


Crony Capitalism, Chicago Style. by The Elephant's Child

President Obama has been trying for four years to promote the claim that the financial crisis was caused by the hated Bush tax cuts for “the rich.” Democrats always hate tax cuts, because they believe in BIG government, and  you can’t have BIG government without lots of tax revenue.

Democrats also believe in “fairness” which means that income should be redistributed from those who earned income to those who didn’t earn any or enough. It just isn’t fair that some people should work harder or have more expertise or be luckier than others who don’t work hard or have any expertise and just aren’t lucky. Although “luck” isn’t always as lucky as people think. Statistically, the people who win lotteries usually turn out to be less lucky than they were in the first place.

Bill Clinton left a recession for George W. Bush. The “booming” Clinton economy was booming largely because of the “dot-com bubble” when everybody with a computer thought they were going to make their fortunes online. President Obama wants to go back to the Clinton tax rates because the rich paid more then, but he wants to pretend that Bill Clinton’s much lower spending didn’t exist, didn’t happen, spending is good, don’t even suggest that I should cut back on spending. Did you know we have 54 Christmas trees in the White House? Although we’ll be in Hawaii for most of the Christmas season. Out of touch.



Andrew Klavan Takes On the Elusive Green Jobs! by The Elephant's Child

Andrew Klavan Explains the Constitution. by The Elephant's Child

People are noticing the extent to which the political class feels constrained and  — annoyed — by the Constitution.  And of course, there are those who have never bothered to read the Constitution, and have little idea what all the fuss is about.

In 2004, an amendment sponsored by Senator Robert Byrd attached to the Omnibus Spending Bill changed the name of a holiday known as “Citizenship Day” to Constitution Day and Citizenship Day.” The act mandates that all publicly funded educational institutions provide educational programming on the history of the American constitution on that day.  In May of 2005, the United States Department of Education announced the enactment of this law and that it would apply to any school receiving federal funds of any kind.  (Federal employees don’t get any time off).  Universities and Colleges nationwide have created “U.S. Constitution and Citizenship Weeks” in order to meet the requirements of the law.

For all those who have never heard of it, the holiday falls on September 17, or on the nearest weekday if it falls on a weekend.

For those who doubt that Constitution Day or Constitution Week has had much influence on their children or the young people they know, Andrew Klavan explains just what the Constitution is all about.



Andrew Klavan Explains the Financial Crisis, And Gets it Exactly Right! by The Elephant's Child
May 7, 2010, 4:01 pm
Filed under: Capitalism, Economy, Law, Taxes | Tags: , ,

Andrew Klavan tackles the financial crisis, and explains the connections.  He also explains, with brief humor, why the Dodd Financial Reform bill is such a disaster.  Under the guise of “protecting consumers” they encourage risk on Wall Street, offer taxpayer bailouts, and don’t reform any of the things that need reforming.

The Financial Crisis was caused by government, not Wall Street.  It was not caused by deregulation, but by bad regulation.  Fannie and Freddie, the Government Sponsored Enterprises, are in desperately bad shape.

Freddie Mac just posted another staggering quarterly loss — $8 billion in just the first quarter.  That’s after taxpayers have supplied $60 billion in bailouts.  The Republican alternative to the Dodd bill aims to wind down and break up Fannie and Freddie on a 15 year timeline, and to limit taxpayer exposure in the meantime.  The Democrats want to kick that problem down the road, and they are still encouraging home loans to buyers who cannot meet prudent banking standards.

Economist Alan Reynolds points out Obama’s tendency to cram bills through by picking a business to demonize.  Anthem Blue Cross Blue Shield was the victim in the Health Care Bill when they were accused of raising premiums “by anywhere from 35-39 percent” except no one could find anyone who paid 39% more.  For the Dodd Bill, the demon is Goldman Sachs, with a suspiciously timed civil suit as a flimsy excuse.  And of course the bill is favored by Goldman, which tells you how straightforward this is.

So there’s a lot of reading if you want to bone up on the Dodd Bill, but Andrew Klavan has it pretty much exactly right.



Andrew Klavan, Once Again, On the Culture. by The Elephant's Child
February 26, 2010, 10:07 pm
Filed under: Capitalism, Liberalism, Politics | Tags: , ,

Andrew Klavan’s videos, produced for Pajamas Media are always amusing. Hope you enjoy them as well.



Andrew Klavan Sticks It to the Mainstream Media. by The Elephant's Child

(h/t: Pajamas Media)




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