Magician Politics - Thomas Sowell on Government Medical Care

"The government does not have some magic wand that can 'bring down the cost of health care.' It can buy a smaller quantity or lower quality of medical care, as other countries with government-run medical care do.

It can decide not to spend as much money on the elderly as is being spent now. That can save a lot of money-- if you think having a parent die earlier is a bargain."

The Fed's Exit Strategy - Ben Bernanke

"My colleagues and I believe that accommodative policies will likely be warranted for an extended period. At some point, however, as economic recovery takes hold, we will need to tighten monetary policy to prevent the emergence of an inflation problem down the road. The Federal Open Market Committee, which is responsible for setting U.S. monetary policy, has devoted considerable time to issues relating to an exit strategy. We are confident we have the necessary tools to withdraw policy accommodation, when that becomes appropriate, in a smooth and timely manner...."

"Powerful GM" - John Stossel's Take

"GM has/had no armies with which it can invade other companies. It had no power for force anyone to work there. It couldn’t force anyone to buy GM cars.

Your average two-bit government bureaucrat has more 'power.' He can send people with guns to take your money (tax collection). He can lock you up, seize your property, tell you what you cannot do on your property, summon you to court, and so on. Government has the monopoly on power...."

Business, to survive, must be a supplicant: it must work hard to please its customers, constantly adapt to meet their changing tastes, beg them to even visit the showroom to consider a purchase. Business is good. There are a few cheaters—I made a career reporting on them—but they are exceptions. Overwhelmingly, business serves us very well." - John Stossel

The Great Panic (up to July 18, 2009)

“We came very close in October to Depression 2.0.” Ben Bernanke, Chairman of the Federal Reserve

On the World Bank - WSJ.com

"By the late 1970s, I had concluded that, for all the good intentions and abilities of its staff, the [World] Bank was a fatally flawed institution. The most important source of its failures was its commitment to lending, almost regardless of what was happening in the country it was lending to. This was an inevitable flaw since the institution could hardly admit that what it could offer -- money -- would often make little difference."

The Lure of the Czars: It took the Romanovs almost 300 years to produce 18 czars. Obama did it in less than 100 days. - Reason Magazine

"The czar is a perfect techocratic role—appealing to Obama, who has been much praised for 'surrounding himself with smart people.' The appeal of the czar rests on the belief that if we could just figure out the right smart, competent, well-intentioned person to put charge, everything would go more smoothly. This is often true on a micro-level. Having someone in charge of a school field trip, or a division inside a large company is a good idea. But the bigger and more complex the problem, the less likely even the most impressive technocrat will be able to set things in order, especially since these czars lack the very thing that defined the Russian czars: total control over the lives of their subjects."