Archive for 2010

THE GERMAN MIRACLE: Germany has cut government spending and its economy is growing smartly. It’s not the first time that market-friendly policies have led the nation out of crisis.

In the following weeks Erhard removed most of the Bizone’s remaining price controls, wage controls, allocation edicts and rationing directives. The effects of decontrol were dramatic.

The shortages ended, black markets disappeared, and Germany’s recovery began. Buying and selling with Deutsche marks replaced barter. Observers remarked that almost overnight the factories began to belch smoke, delivery trucks crowded the streets, and the noise of construction crews clattered throughout the cities.

The remarkable success of the reforms made them irreversible. A few months later the French zone followed suit. The Allied authorities went on to lower tax rates substantially.

Between June and December of 1948, industrial production in the three Western zones increased by an astounding 50%. In May 1949 the three zones were merged to form the Federal Republic of Germany, commonly called West Germany, while East Germany remained under Soviet domination as the German Democratic Republic.

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TSA ATTACKS PHOTOGRAPHERS INSTEAD OF TERRORISTS. “What should we find suspicious about the figure in the picture? That’s he’s carrying a camera near an airport? Maybe it’s the hoodie. But then maybe it’s cold outside. Point is, TSA is putting in our heads that photographers are people we ought to view with suspicion.”

How about sending them a copy of this article?

DO YOU THINK? “The ongoing increases in college tuition and fees make the housing price bubble seem pretty tame by comparison, and we should therefore be very concerned about the possibility that we might now be facing an unsustainable higher education bubble.” If something can’t go on forever, it won’t.

HANS VON SPAKOVSKY: There Really Is Something Rotten In The Justice Department. “It’s too bad that a private citizen has to carry out the responsibility of the Justice Department because it has failed to do so and, in fact, refuses to do so for ideological and political reasons that have nothing to do with the impartial administration of justice.”

ACTUALLY, MY FIRST THOUGHT WAS, “THAT MANY?” Gallup: Just 1/3 Of Americans Approve Of The Job Either Party Is Doing. “A new Gallup Poll out this morning finds barely one-in-three Americans approves of the job being done in Congress by either party — 32% approval for Republicans and 33% for Democrats.”