Politicians will say anything if it helps their chances of getting elected, and people will believe all sorts of stupid shit, in fact, they tend to believe stupid shit in proportion to how badly they want it to be true. That said, Americans are idiots. The president doesn’t control the price of gas. If people are deciding who to vote for based on idiotic misconceptions like “the next president will lower the price of...
The lyrics to “Won’t Get Fooled Again” by rock icons The Who have apparently fallen on deaf ears in the City of Detroit, where embattled Mayor Kwame Kilpatrickfooled them twice. As I wrote last week, Kilpatrick is under fire for allegations of infidelity with an aide and perjuring himself* in a whistleblower lawsuit which cost the bankrupt city at least $9M. I don’t care about his infidelity, but I care about what it cost...
I love the idea of gold clauses (h/t: Cap’n Arbyte) but I don’t like them as envisioned by Reisman. Do I agree with Reisman’s argument? The parties entering into new contracts should be free to include whatever degree of gold clause protection that was mutually agreeable. What presently stops such contracts from being made are considerations both of their enforceability in the courts and their likely treatment for purposes of taxation. To an extent,...
