Category Archives: Commentary

Commentary

Thomas Sowell explains how politicians cause recessions while getting elected

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Article here at Townhall.com. (H/T ECM)

Excerpt:

After the cascade of economic disasters that began in the housing markets in 2006 and spread into the financial markets in Wall Street and even overseas, people in the private sector pulled back. Banks stopped making so many risky loans. Home buyers began buying homes they could afford, instead of going out on a limb with “creative”– and risky– financing schemes to buy homes that were beyond their means.

But politicians went directly in the opposite direction. In the name of “rescuing” the housing market, Congress passed laws enabling the Federal Housing Administration to insure more and bigger risky loans– loans where there is less than a 4 percent down payment.

A recent news story told of three young men who chipped in a total of $33,000 to buy a home in San Francisco that cost nearly a million dollars. Why would a bank lend that kind of money to them on such a small down payment? Because the loan was insured by the Federal Housing Administration.

The bank wasn’t taking any risk. If the three guys defaulted, the bank could always collect the money from the Federal Housing Administration. The only risk was to the taxpayers.

Does the Federal Housing Administration have unlimited money to bail out bad loans? Actually there have been so many defaults that the FHA’s own reserves have dropped below where they are supposed to be. But not to worry. There will always be taxpayers, not to mention future generations to pay off the national debt.

Very few people are likely to connect the dots back to those members of Congress who voted for bigger mortgage guarantees and bailouts by the FHA. So the Congressmen’s and the bureaucrats’ jobs are safe, even if millions of other people’s jobs are not.

Congressman Barney Frank is not about to cut back on risky mortgage loan guarantees by the FHA. He recently announced that he plans to introduce legislation to raise the limit on FHA loan guarantees even more.

Congressman Frank will make himself popular with people who get those loans and with banks that make these high-risk loans where they can pocket the profits and pass the risk on to the FHA.

So long as the taxpayers don’t understand that all this political generosity and compassion are at their expense, Barney Frank is an odds-on favorite to get re-elected. The man is not stupid.

Can you guess which political party Barney Frank represents?

Commentary

Stephen C. Meyer defines and defends intelligent design in CNN editorial

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THIS IS HUGE. Maybe this CNN editorial will cause people to stop describing intelligent design as “the idea that life so complex that God had to create it”.

Story here at CNN.com.

His first argument is the Cambrian explosion:

We are told that a consensus of scientists supporting the theory means that Darwinian evolution is no longer subject to debate. But does it ever happen that a seemingly broad consensus of scientific expertise turns out to be wrong, generated by an ideologically motivated stampeding of opinion?

[…]Contrary to Darwinian orthodoxy, the fossil record actually challenges the idea that all organisms have evolved from a single common ancestor. Why? Fossil studies reveal “a biological big bang” near the beginning of the Cambrian period (520 million years ago) when many major, separate groups of organisms or “phyla” (including most animal body plans) emerged suddenly without clear precursors.

Fossil finds repeatedly have confirmed a pattern of explosive appearance and prolonged stability in living forms, not the gradual “branching-tree” pattern implied by Darwin’s common ancestry thesis.

And his second argument is the biological information in DNA:

Consider the implications, for example, of one of modern biology’s most important discoveries. In 1953 when Watson and Crick elucidated the structure of the DNA molecule, they made a startling discovery. The structure of DNA allows it to store information in the form of a four-character digital code, similar to a computer code.

This discovery highlights a scientific mystery that Darwin never addressed: how did the first life on earth arise? To date no theory of undirected chemical evolution has explained the origin of the information needed to build the first living cell.

Instead, the digital code and information processing systems that run the show in living cells point decisively toward prior intelligent design. Indeed, we know from our repeated experience — the basis of all scientific reasoning — that systems possessing these features always arise from an intelligent source — from minds, not material processes.

DNA functions like a software program. We know that software comes from programmers. Information — whether inscribed in hieroglyphics, written in a book, or encoded in a radio signal — always arises from a designing intelligence. So the discovery of digital code in DNA provides a strong scientific reason for concluding that the information in DNA also had an intelligent source.

You can see Stephen Meyer debate against a famous, qualified Darwinist here. That post also has links to other debates on intelligent design from the Cato Institute and PBS. And don’t forget that Stephen Meyer is debating Michael Shermer on November 30th, 2009 in Beverly Hills.

Ideas for Christmas gifts

If you guys are looking for Christmas gift ideas, I recommend Meyer’s “Signature in the Cell” for advanced students. For beginners, get the new intelligent design DVD “Darwin’s Dilemma” and the “Unlocking the Mystery of Life” DVD. The former covers the Cambrian explosion, and the latter covers the argument from DNA. If you still have money left over for more gifts, then get “The Privileged Planet” DVD, which compares the requirements for complex life forms and the requirements for scientific discovery. These can all be bought at Amazon.com.

By the way, just for fun, why don’t you guys print off this article, and then go to some of your atheist family and friends and ask them what intelligent design is. Compare what they think intelligent design is with what it actually is, according to Stephen Meyer. If you want, write it up and leave it as a comment to this post.

UPDATE: Atheist philosopher Thomas Nagel names Signature in the Cell one his two 2009 Books of the Year in the Times Literary Supplement. This will be in a separate post shortly. (H/T Apologetics 315)

Commentary

Should government spend so much money to push people into higher education?

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Both fiscal conservatives and social conservatives agree: government spending on higher education should be cut.

Fiscal conservatives oppose government spending on higher education

Consider this podcast from the libertarian Cato Institute.

Here is the MP3 file. (7 minutes)

It’s an interview with Dr. Neal MCluskey.

Topics:

  • does higher education necessarily deliver skills that employers want?
  • do most degrees really benefit employers?
  • should government subsidize higher education?

About the guest:

Neal McCluskey is the associate director of Cato’s Center for Educational Freedom. Prior to arriving at Cato, McCluskey served in the U.S. Army, taught high school English, and was a freelance reporter covering municipal government and education in suburban New Jersey. More recently, he was a policy analyst at the Center for Education Reform. McCluskey is the author of the book Feds in the Classroom: How Big Government Corrupts, Cripples, and Compromises American Education, and his writings have appeared in such publications as the Wall Street Journal, Baltimore Sun, and Forbes. In addition to his written work, McCluskey has appeared on C-SPAN, CNN, the Fox News Channel, and numerous radio programs. McCluskey holds a master’s degree in political science from Rutgers University.

I think people should face the costs of the university education themselves. Then they would choose areas where they could make enough money to live and pay back their loans.

Social conservatives oppose government spending on higher education

My wonderful friend Andrew sent me this notice about an upcoming Family Research Council lecture.

Allan Carlson to Speak on Student Loans at Family Research Council

World Congress of Families founder and International Secretary Allan C. Carlson will deliver a Witherspoon Lecture at the Family Research Council on December 4 at 11:00 am, on “The Crushing Burden of Student Loans on Family Formation For Generation X.”

Studies have shown that significant numbers of graduates who are burdened with college loans are less likely to marry and have children – with negative consequences for society. Thus, there is a need to re-think the entire program.

[…]Allan Carlson has a Ph.D. in Modern European History. He is the author of many books, including “Conjugal America: On the Public Purposes of Marriage” and “The Natural Family: A Manifesto,” with Paul Mero. Click here to order his books.

Click here to download the flier.

Isn’t it amazing that fiscal conservatives agree with social conservatives? Actually, they should agree on many more things, in my opinion. It’s a bad idea for government to redistribute taxpayer money to schools, because the teacher unions just turn around and use it to influence politics, which cannot be good for giving children a quality education. Teacher unions are bad for fiscal and social conservatives – we really need to unite and make sure that they are de-funded, and de-fanged.

A funny story about libertarians

And I have to tell you a funny story. One of the quirky things about me that everyone knows is that I am able to get into the most deep and controversial conversations within a few seconds of meeting someone. For example, in the time it takes to get a blood test, I was talking to the nurse about lethal injections, capital punishment and different goals of the criminal justice system. Well, I managed to beat my score on Monday.

I was passing by a security guard to show him my badge and I noticed a book on his desk. As soon as he turned his back I leaned over the desk and read the back cover. It was a book by Lew Rockwell. So I asked him about it, and then we started talking about how libertarians ought to support social conservatism in order to keep government from having to deal with the fallout from broken homes and crime. I was just about to start talking about John Lott’s study on the link between abortion and increased crime, but there was a line-up by then, so I moved along.

So that’s what my life is like – the joy of a comprehensive Christian worldview means that you are never at a loss for something interesting to talk about. And there is a lot of reading people – knowing who you can talk to and when you’ve gone too far. Practice, practice, practice.