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POPS How The Chinese Must See Us Did not James Monroe and John Quincy Adams brashly tell the great powers of Europe to stay out of our hemisphere? What are the Chinese about, other than imposing a Monroe Doctrine of their own? As historian Walter McDougall writes, Otto von Bismarck was as affronted by us as we are by the Chinese, declaring that the Monroe Doctrine represented "a species of arrogance peculiarly American and inexcusable." Hu Jintao got an earful from us on his human rights records. Stop the repression of Uighurs and Tibetans. Stop jailing political dissidents. Allow more freedom of the Internet and the press. But on his way home, Hu must be thinking to himself: Who are these Americans to lecture us? But as America sinks economically and retreats strategically, while China grows at 10 percent and bristles with confidence, we appear to be a nation of whiners. They are eating our lunch, and we sound like losers in a locker room.
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POPSOrigin of the U.S. Business Cycle The long-run consequences of the Hamiltonian financial revolution were a crushingly large central government and a burdensome government debt. According to advocates of state capitalism, this last aspect was actually a good thing—they portray government debt as a blessing because it allowed for a strong central government. But contrary to their mercantilist interpretation, a bloated central government is not a blessing. Hamilton’s reforms merely induced a precursory period of unproductive trading in government debt instruments and credit-fueled speculation. More important, the centralized banking system created by Hamilton’s nationalist party destabilized the American economy. The new banking system immediately created a sequence of financial panic, deep-seated malinvestment, and a delayed recession. Sound familiar? It should.
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POPSChina’s Asset Bubble It is a matter of time. What will it mean to the Chinese Government? Will it buckle under the weight of massive dissatisfaction? Or will it mean some dark years for the Chinese people? What will it mean to the US Dollar? Will China unload the dollar thus massively devaluing the currency in order to keep their economy afloat? But would they if they are so dependent on foreign trade? And what will it mean to the world economy. Will the world economy be firm enough to absorb Chinese economic contraction? So far, China's economy has been one of the few bright spots. If the world economy is not strong enough China's asset bubble burst may lead to another global recession.
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POPSA Declaration of Independence from Big Government
At every turn, the British Crown had concentrated political power and decision-making in its own hands, leaving the American colonists with little ability to manage their own affairs through local and state governments. Laws and rules were imposed without the consent of the governed; local laws and procedures meant to limit abusive or arbitrary government were abrogated or ignored. The king also had attempted to manipulate the legal system by arbitrarily appointing judges that shared his power-lusting purposes or were open to being influenced to serve the monarch’s policy goals. The king’s officials unjustly placed colonists under arrest in violation of writ of habeas corpus, and sentenced them to prison without trial by jury. Colonists often were violently conscripted to serve in the king’s armed forces and made to fight in foreign wars. But what was at the heart of many of their complaints and grievances against King George III were the economic controls that limited . . .
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