Daily Archives: January 18, 2011

Correctly Identifying The Issue

The issue is unpayable debt.  And debt-as-money.  The two are joined at the hip.

The constitutional amendment idea is addressing this issue.  I’m not aware of anything else that is.  So view these videos, go back and read the five posts about the constitutional amendment, do some thinking, then get back to me.  I’m right here.

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Lawyer Fees II

Quite the dust-up in Texas over “flat fees”.  Bennett is all over it, as he should be.  Greenfield weighs in, too.

I certainly hope the proposed amendment goes down in flames, but I wanted to add my two cents with a point that is being not missed, exactly, but not fleshed out enough.

I dealt with this issue a little bit here.  My point in that post was that bureaucrats seem to have no appreciation for, or even a concept of, the risks inherent in economic activity where the parties are free to contract or not.  The bureaucrat’s government paycheck appears every pay period, as if by magic, at least to him.  But it’s not magic.  That paycheck came from the collection of taxes which unlike commerce and even the private practice of law – which is not exactly commerce – is a forced transaction between the government and its subjects.  There is no economic risk involved, though there may be other kinds of risks – but that is not important here.

In other words, the bureaucrat’s paycheck is like when we buy our meat at the grocery store and don’t have to think about the butcher.

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