American Elephants

About Human Prosperity by The Elephant's Child


The Stock Market pretty much ignored the cut in interest rates taken to rally the market. But former Vice President Joe Biden’s strong Super Tuesday performance over Bernie Sanders and signs of a coordinated response to the coronavirus reassured investors. The Dow Jones Industrial Average rose nearly 1,200 points as all 30 stocks in the index climbed. The results suggested that Mr. Biden could be a more formidable opponent to Sen. Bernie Sanders than was originally anticipated—according to the Wall Street Journal.

A leading physician praised the administration response to the Corona virus, saying quick actions to close the borders, quarantine those coming from areas where the pandemic is raging, have undoubtedly saved lives. On the other hand, Nancy Pelosi held back the Coronavirus Funding Bill so the DCCC could run Super Tuesday ads against the GOP. President Trump, who donates his presidential salary entirely, directed the 4th quarter payments to the Corona virus fight. Facts are sometimes troublesome, as desperate Democrats desperately try to blame the Coronavirus on President Trump, and Vice President Pence. So a few more lives lost, all in the cause of returning the Democrats to power is worth it? “During her weekly press conference last Thursday she said: “Lives are at stake. This is not a time for name-calling or playing politics.”

I’ll borrow a couple of good paragraphs from Matthew Continetti at the Free Beacon:

The global economy is far more integrated than in the past. And a worldwide broadcast, digital, and social media exist that would have been fanciful to President Wilson. This system distributes misinformation, incentivizes hysteria and partisanship, and expects immaculate performance from the government while ignoring, dismissing, and excusing its own failures. Dealing with “community spread” is hard enough. Try doing it while watching Don Lemon.

We were better off when the media focused on impeachment. Now that it is interested in coronavirus, a familiar pattern will set in. Data will be publicized without the slightest sense of proportion. The most outrageous scenarios will receive the most attention. Speculation will be paraded as fact. And every conceivable negative outcome, from infections to deaths to plunging stock values, from reasonable and warranted travel bans to unanticipated diplomatic and economic fallout, will be related back to the president in an effort to damage his reelection.

That struck me as a pretty accurate assessment. Elizabeth Warren introduced a bill “to transfer all funding for @real Donald Trump’s racist border wall” to coronavirus defense. There are a number of Coronavirus cases in the Mexican border states. But then, Joe Biden got more votes , and on Super Tuesday, she didn’t finish in the top two even in her home state.

Sounds as if the American people are not all that enthusiastic about Marxism. Millennials may have no understanding of what Marxism is, but we have a lot of refugees from the countries who have played around with it. Cuba, of course. Nicaragua, Venezuela if they can manage to get out. Do people forget that we had Stalin’s daughter (recently passed on) and (I think it was) Gorbachev’s son. How there can possibly be any enthusiasm for Bernie Sanders is a mystery. Or for that matter how Bernie Sanders can manage in this day and age to be a Marxist. Here’s a good, recent article from the Hoover Institution by historian Niall Ferguson on “The Essence of Marxism,” for those needing a refresher.

The Hoover Institution is embarking on an essay series on “The Human Prosperity Project“about Socialism and Free-Market Capitalism. The abstract:

Despite the fundamental distinction between the two, misunderstandings of capitalism and socialism — and their implications for freedom — abound, and usually in favor socialism. In these circumstances, a return to the basics is warranted. The 17th-century writings of John Locke in defense of political and economic freedom and the 19th-century critique by Karl Marx of political and economic freedom represent classics of the genre. Fresh examination of their ideas brings into better focus the case for freedom and the reasons for concluding that the defense of the free market is central to the securing of individual freedom and equality under law.

You can download the .PDF at the website, for yourself or your millennial.

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