Yesterday I wrote to you about how the 10 largest bond funds are increasing risk by loading up on junk bonds. The only fund company of the group not doing this is Vanguard. No surprise there. Vanguard always seems to do the right thing for investors. But there’s another narrative inside this grouping of behemoths […]
Supreme Court Predictions
Cato expert Ilya Shapiro predicts how the Supreme Court justices will vote before their summer vacation: As we head into the last month of the Supreme Court term – the Court releases its final, typically highest profile, opinions the last week of June – it’s time to take a deep breath and survey the lay […]
DHS Taj Mahal
The Department of Homeland Security’s budget has tripled from $18 billion in 2002 to $57 billion in 2013. President Bush promised “improved efficiency without growing government.” It’s hard to imagine a workforce that has grown from 163,000 in 2004 to 193,000 by 2013 as a model of efficiency. But there’s a silver lining in this […]
Obama (In)action?
In scandal after scandal the script plays out. Allegations of misconduct or incompetence arise in the Obama administration and three things happen, 1) the administration denies there is a problem, 2) the president acknowledges the undeniable problem, feigns anger, and blames someone else, 3) nothing is done to remedy the problem. The question is, if this […]
Shock Therapy Capitalism
I’ve written before about former Polish deputy prime minister and finance minister Leszek Balcerowicz, who was honored last night with the Cato Institute’s biennial Milton Friedman Prize. Cato Institute’s Michael Tanner explains Balcerowicz’s “shock therapy” for Poland. After the fall of communism the country had a choice to make, rapidly transform into a capitalist society and […]
Rand Paul Filibuster: Part II
It looks as though Sen. Rand Paul will filibuster the Senate confirmation of David Barron today. Paul is demanding the release of memos Barron wrote on the administration’s drone policy before he’ll allow the process to continue. Like his previous historic filibuster, Paul’s stand may have bipartisan support as civil libertarians from both parties come […]
A Retirement High-Life
“Your life is made of two dates and a dash. Make the most of the dash.” Twice a year a client of mine leaves the comforts of home to patrol 26,000 sq. miles in Southeastern Utah for the Department of Interior. He spends two weeks in the Spring and two months in the Fall, September […]
Executing Americans Without Trial
President Obama should withdraw his nomination of David J. Barron to a seat on the U.S. Court of Appeals for the first Circuit. Rand Paul calls him out in The New York Times here: WASHINGTON — I BELIEVE that killing an American citizen without a trial is an extraordinary concept and deserves serious debate. I […]
Go Big or Go Home
Rand Paul offers big ideas. Like getting rid of the Department of Education. Contrast that with the teleprompter reading/speeches and poll watching Obama administration that’s too timid to make change we can believe in.
My Friend Gene Healy
In the private sector, when someone isn’t getting their job done, or they’re misbehaving at work they get fired. Much like stories of repeat offender teachers who are never given the boot because their unions protect them, politicians are also insulated from the proper consequences of their objectionable actions. Gene Healy recently wrote a piece discussing […]
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