The Corner

Sliding Toward the Cliff Edge

I doubt anyone’s enjoying the sound of ice cracking beneath our feet, but some of us are less surprised than others. We fans of Peter Schiff, Marc Faber, and Vox Day are just sitting at our desks nodding glumly and saying: Yep. Yep. …

From Vox’s wonderful suicide-inducing new book, chapter title “What Can Be Done,” just the headlines:

Ten immediate measures that would help bring about economic recovery sooner rather than later are as follows:

1. Stop pouring gasoline on the fire. The Federal Reserve must raise interest rates. . . .

2. No more financial necromancy. No more bailouts. An organization that is too big to fail is too big to be permitted to exist. . . .

3. Cut state and federal income taxes in half. . . .

4. Eliminate all federal spending that cannot be supported by a supermajority in both the House and Senate. . . .

5. Audit the Federal Reserve. . . .

6. Repeal the Gramm-Leach-Bliley Act of 1999, the Carn-St. Germain Depository Institutions Act of 1982, and elements of the Depository Institutions Deregulation and Monetary Control Act of 1980. . . .

7. Withdraw American troops from Afghanistan, Iraq, South Korea, Europe, and most of the dozens of countries around the world where they are stationed. . . .

8. Halt immigration and provide significant financial incentive for married women with children to raise them at home. . . .

9. Ban banking bonuses. . . .

10. End the federal monetary monopoly. . . .

Vox, in all but a few respects a man after my own heart, adds that: “There is very little chance that any of these practical policies will be adopted.”

Which is of course true. We are . . . Oh, never mind.

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