Friday, January 31, 2003


Tom Wolfe celebrates the 25th anniverary of the Manhattan Institute for Policy Research--where Bill Hammett landed after he left the Center for Libertarian Studies.

Thursday, January 30, 2003

Brief of 16 Law Professors

Here is the brief that the Bush Administration should have submitted in the University of Michigan case on race reverse-discrimation.
Buchanan: Is George W. Bush an imperialist?

The War Party wins over Bush by its early early finesse and speech-writing posts--taking advantage of the aftermath of 9/11.

Wednesday, January 29, 2003

NTU prices out the Bush spending proposals

Here are the numbers.
State of the Union Address (

Link to the President's State of the Union Address. Who wrote the first half? Awful Keynesian message. And what about the constitution? Where is the federal government delegated the authority to cure diseases in Africa? Subsidize hydrogen-driven cars?
The Fed official who cried 'bubble' long before it burst

Jerry Jordan got it right.

LAST summer, Fed Chairman Alan Greenspan claimed "it was very difficult to definitively identify" the late-1990s stock bubble until it was too late to do anything about it.

Perhaps it was, for Alan. But one of his colleagues in the sanctum sanctorum of U.S. monetary policy saw the bubble early, saw it for what it was and urged Greenspan and the other money shamans to attack it.

"Apparently I am not as convinced as others that the problems to which we ultimately will have to react will be consumer prices," Jerry L. Jordan admonished his colleagues on the Federal Open Market Committee on Nov. 11, 1997.

"The problem may ... be ... in asset [stock] markets, as suggested by historical episodes in this country, notably in the 1920s, and in Japan in the late 1980s."

We know what Jordan said because the Fed's hermetic deliberations are taped and delivered up as transcripts five years after the fact. The 1997 texts surfaced Thursday, and they show that, at least in the middle stages of stock mania, Jordan repeatedly warned of a coming bubble, to no effect.

Desert Caution (

Stormin' Norman Schwarzkopf takes a cautionary attitude about the winds of war.

Monday, January 27, 2003

Telecom undone—a cautionary tale

Peter Huber explains how the federal government destroyed the telecom industry in America. Those who lost their shirt with Worldom, please note what really happened.

Sunday, January 26, 2003

Reagan's Son

The New York Times profiles President Bush. Curious analysis. Relies a good deal on the insights of Grover Norquist, with whom I used to work at the National Taxpayers Union during my stint in Washington D.C.