From LewRockwell.Com
"Capitalism Without Capital?" by Ron Paul

It has been long understood that our federal government is going deeper into debt, consistently raising the debt ceiling and demonstrating no fiscal restraint. In recent years, debt ceiling increases have been placed in 'must pass' legislation as a means to guarantee that Republicans as well as Democrats would vote for them when Congress was under Republican control.

We also know our nation's 'negative savings rate' reflects the habits of private citizens, showing those habits to be not tremendously different than the habits of the public sector. Yet, the signs of decline are becoming ever more apparent. So apparent, in fact, that it seems unlikely that bailouts or other gimmicks will have even short-term success.

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From AntiWar.com
"Cheap Thrills" by Nebojsa Malic

Almost eight months after the US -- followed by most NATO members -- recognized the occupied Serbian province of Kosovo as a dependent state, the Serbian government finally did something about it. On October 8, the UN General Assembly approved Serbia's request to seek the opinion of the International Court of Justice about the legality of Kosovo's separation. Albania, the US and four Pacific island nations in its orbit were the only votes against. For a moment, Belgrade basked in victory, no matter how feeble or immaterial.

The Empire would not be denied, however; within hours, recognitions of Kosovo's 'independence' came from Portugal, Montenegro and Macedonia. A day after that, the announcement came that this year's Nobel Peace Prize winner was none other than Martti Ahtisaari; the official explanation listed Ahtisaari's peacemaking activities in Namibia, Aceh and Iraq (!?) but it is plain as day that the Nobel was a direct reward for his efforts to establish occupied Kosovo as a separate state.

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From Reason Magazine
"Either a Borrower or a Lender Be" by Jacob Sullum

John McCain calls his promise to help millions of Americans with their mortgages the McCain Resurgence Plan. Ostensibly, the 'resurgence' has something to do with home values, but his poll numbers are what he really has in mind.

This desperate ploy, unveiled at last week's presidential debate, speaks volumes about McCain's readiness to forsake his avowed principles and his supposed commitment to candor. Meant to bribe swing voters with taxpayers' money, it should repel anyone who considers its rationale, its fairness, and its fiscal implications.

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From the Ludwig von Mises Institute
"Henry Hazlitt on the Bailout" by Scott A. Kjar

Treasury Secretary Henry Paulson needs to change his reading list. Instead of reading the balance sheets and income statements of the failing banking industry, he needs to read Henry Hazlitt's classic book Economics in One Lesson. It will cost Paulson far less than the $700 billion that he is spending on the bailout, and he might just learn a little economics in the process.

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