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What New Deal? Occam's Razor Cuts Again

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Here's Obama!

by Christopher Chantrill
November 21, 2008 at 7:15 pm

EVERYBODY’S been asking: “Where’s Obama” on just about everything. What’s his take on the auto bailout? Rush Limbaugh wants him to issue a statement promising no tax increases for a few years.

But at least there seems to be movement on the auto bailout, according to Bloomberg.

President-Elect Barack Obama`s transition team is exploring a swift, prepackaged bankruptcy for automakers as a possible solution to the industry’s financial crisis, according to a person familiar with the matter.

That is what they call a trial balloon.

And it seems that, from the various quotes from Washington barons of the realm, that the idea has some support.

It would probably be my preferred option. But whatever it is, it has to include haircuts all round.

The whole point of a recession is the liquidation of the malinvestments of the previous boom. Well, we are well into the liquidation of the mal-mortgages of the previous boom. Now it’s time to look at the malinvestment of the previous half-century in sky-high wages and benefits for auto workers.

It seemed like a good idea half a century ago, to promise good wages and benefits out of the huge profits of the auto companies. But things got a bit out of hand, as they do when politics gets involved in anything. Now it is time to face reality.

It’s time to get past denial, as our liberal friends say.


Christopher Chantrill blogs at www.roadtothemiddleclass.com.  His Road to the Middle Class is forthcoming.


What Liberals Think About Conservatives

[W]hen I asked a liberal longtime editor I know with a mainstream [publishing] house for a candid, shorthand version of the assumptions she and her colleagues make about conservatives, she didn't hesitate. “Racist, sexist, homophobic, anti-choice fascists,” she offered, smiling but meaning it.
Harry Stein, I Can't Believe I'm Sitting Next to a Republican

US Life in 1842

Families helped each other putting up homes and barns. Together, they built churches, schools, and common civic buildings. They collaborated to build roads and bridges. They took pride in being free persons, independent, and self-reliant; but the texture of their lives was cooperative and fraternal.
Michael Novak, The Spirit of Democratic Capitalism

Taking Responsibility

[To make] of each individual member of the army a soldier who, in character, capability, and knowledge, is self-reliant, self-confident, dedicated, and joyful in taking responsibility [verantwortungsfreudig] as a man and a soldier. — Gen. Hans von Seeckt
MacGregor Knox, Williamson Murray, ed., The dynamics of military revolution, 1300-2050

Society and State

For [the left] there is only the state and the individual, nothing in between. No family to rely on, no friend to depend on, no community to call on. No neighbourhood to grow in, no faith to share in, no charities to work in. No-one but the Minister, nowhere but Whitehall, no such thing as society - just them, and their laws, and their rules, and their arrogance.
David Cameron, Conference Speech 2008

Socialism equals Animism

Imagining that all order is the result of design, socialists conclude that order must be improvable by better design of some superior mind.
F.A. Hayek, The Fatal Conceit


[Every] sacrifice is an act of impurity that pays for a prior act of greater impurity... without its participants having to suffer the full consequences incurred by its predecessor. The punishment is commuted in a process that strangely combines and finesses the deep contradiction between justice and mercy.
Frederick Turner, Beauty: The Value of Values

Responsible Self

[The Axial Age] highlights the conception of a responsible self... [that] promise[s] man for the first time that he can understand the fundamental structure of reality and through salvation participate actively in it.
Robert N Bellah, "Religious Evolution", American Sociological Review, Vol. 29, No. 3.

Religion, Property, and Family

But the only religions that have survived are those which support property and the family. Thus the outlook for communism, which is both anti-property and anti-family, (and also anti-religion), is not promising.
F.A. Hayek, The Fatal Conceit

Racial Discrimination

[T]he way “to achieve a system of determining admission to the public schools on a nonracial basis,” Brown II, 349 U. S., at 300–301, is to stop assigning students on a racial basis. The way to stop discrimination on the basis of race is to stop discriminating on the basis of race.
Roberts, C.J., Parents Involved in Community Schools vs. Seattle School District


A writer who says that there are no truths, or that all truth is ’merely relative’, is asking you not to believe him. So don’t.
Roger Scruton, Modern Philosophy

Physics, Religion, and Psychology

Paul Dirac: “When I was talking with Lemaître about [the expanding universe] and feeling stimulated by the grandeur of the picture that he has given us, I told him that I thought cosmology was the branch of science that lies closest to religion. However [Georges] Lemaître [Catholic priest, physicist, and inventor of the Big Bang Theory] did not agree with me. After thinking it over he suggested psychology as lying closest to religion.”
John Farrell, “The Creation Myth”


Within Pentecostalism the injurious hierarchies of the wider world are abrogated and replaced by a single hierarchy of faith, grace, and the empowerments of the spirit... where groups gather on rafts to take them through the turbulence of the great journey from extensive rural networks to the mega-city and the nuclear family...
David Martin, On Secularization

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©2007 Christopher Chantrill