George Rebane
Fed vs Reality. America’s financial mavens extend their record of missing the mark on predicting our GDP growth. Why is this important? Well, it’s their prognostications that not only drive their own policies on things like setting short term interest rates and managing their considerable assets, but these somewhat worthless predictions are still used by businesses and the financial management community to make their own plans and do buying/selling of securities. In short, our central bank’s hubris driven ‘experts’ have no idea what the economy is doing, and yet they continue to drive monetary policy. Look at the nearby record of their recent performance – the predicted intervals are large, yet they still missed every actual measure of GDP growth.
Bernie Sanders, Vermont’s socialist senator, has laid out his priorities as our next president. His chances of getting the Democrats’ nod range between slim and none, however, his impact on who runs for the progressive side will be significant. First, if he starts pulling Hillary to the left, then Lizzy ‘the native American’ Warren will be tempted to jump into the fray. In any event, having the Bernie Sanders faction of the Democratic Party out in the open before their convention will be very illuminating for those voters who can still be illumined.
An initiative to study California becoming an autonomous state is now gathering signatures. Its passing “would create a panel of government officials and private experts to explore establishing California’s autonomy from the United States.” The thinking behind this initiative is that California is a net donor state to the feds who seem to be intent on the fiscal destruction of America – why should California continue to contribute to such an enterprise when it could do better going its own way? There’s a lot more to be said about how California would operate as a semi-autonomous region that is still tied to the United States. For openers, California is America’s leading light in socialist policies and programs with a very large fraction of the country’s ignorant and indigent. If this initiative is to appeal to some latent desire for self-determination, then one must ask what kind of ‘self’ is the California that wants to determine itself. And if successful, how will it change both its politics and governance to survive as an independent state, or does it intend to show the world how a new Socialist Republic of California does collectivism correctly?
The natural stupidity of governments is universal. Now we hear that the Nepalese government through rank bureaucratic processes has been inhibiting the pace of aid arriving in-country and being distributed to their earthquake stricken areas. The situation has gotten so bad that the UN has stepped in to appeal to their political leaders to get a brain and call off their public employee minions, at least for the duration of the emergency. (more here) Another example of death by government.
Regarding the Iranian navy and merchant fleet, here’s the newest addition to the Rebane Doctrine.
Whereas Iran is the publicly sworn enemy of the United States and dedicated to its destruction; whereas Iran is the demonstrated and longstanding sponsor of international Islamist terror that has and continues to cause thousands of deaths annually; whereas Iran’s naval forces and mercantile fleet have demonstrated themselves to be a rogue force in international waters, capturing unarmed merchant ships and supplying arms and other materiel to rebels overthrowing legitimate governments – therefore the US Navy will henceforth consider all Iranian naval vessels encountered outside their territorial waters to be belligerent combatants, and forcefully engage them in order to destroy or capture them. Surrendered vessels and surviving crewmen will be dealt with according to international protocols of war.
The United States agrees with the government of Iran that, as with other military initiatives promulgated by Iran, these maritime actions are independent of and will not bear on the current multi-party negotiations regarding Iran’s nuclear programs.
[5may15 update] Columnist and commentator Joel Kotkin has some sobering and corroborating perspectives on California, its departure from Pat Brown’s legacy, and its future – ‘The Big Idea: California Is So Over’.
[8may15 update] The much debated Constitutional Convention (Con-Con) is again in the local news. Judi Caler of the Nevada County Tea Party and opponent of Con-Con writes a column in the 8may15 Union (here) in which she rebuts Stan Meckler, a strong Con-Con proponent along with his more prominent son Mark. I share Ms Caler’s concerns about such an Article 5 convention, and have noted these in recent RR posts here and here. Ms Caler makes the point that the Constitution is fine as it is, “doesn’t need changing”, and needs only “enforcing and defending.” However, she supports her strong argument as follows –
Amendments to the Constitution were meant to correct errors and defects in the Constitution, not to rein in an out-of-control government. Solutions to the latter do exist that don’t risk our Constitution; solutions like nullification, a constitutional sheriff, and education of the populace regarding the Constitution we have.
Au contraire. Constitutional amendments were also meant to provide alternatives to “rein in an out-control-government” – in addition to the Con-Con described in Article 5 from which a new constitution may emerge, we have that ever popular with conservatives and bane of progressives, the Second Amendment. Other amendments have also been proposed to limit and roll back the power of today’s Leviathan; the only question remains is how such amendments should be adopted. Nullification of federal diktats has been denied to states by courts since the southern states lost their bid for independence. The constitutional sheriffs approach requires both courage and ideological cohesion among these elected constables – both have demonstrated to be in short supply. And “education of the populace” is definitely a bridge too far, even if we can convince ourselves that it still exists.
IMHO, until we can get a favorable resolution of the Con-Con control question, a relaunch of the nullification approach seems to be the best bet, especially in light of Obama’s ample transgressions in the use of federal executive power to trash the last vestiges of states’ rights.
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