Former Treasury Secretary Larry Summers predicted that if Donald Trump were elected, there would be a protracted recession within 18 months. Heeding its experts, a month before the election, The Washington Post ran an editorial with the headline “A President Trump Could Destroy The World Economy.” Steve Rattner, a Democratic financier and former head of the National Economic Council, warned, “If the unlikely event happens and Trump wins, you will see a market crash of historic proportions.” When Trump’s electoral victory became apparent, Nobel Prize-winning economist and New York Times columnist Paul Krugman warned that the world was “very probably looking at a global recession, with no end in sight.” By the way, Krugman has been so wrong in so many of his economic predictions, but that doesn’t stop him from making more shameless predictions.
People whom we’ve trusted as experts have often been wrong beyond imagination, and it’s nothing new. Irving Fisher, a distinguished Yale University economics professor in 1929, predicted, “Stock prices have reached what looks like a permanently high plateau.” Three days later, the stock market crashed. In 1945, regarding money spent on the Manhattan Project, Adm. William Leahy told President Harry S. Truman, “That is the biggest fool thing we have ever done. The (atomic) bomb will never go off, and I speak as an expert in explosives.” Read More →
Do you have locks on your doors? How about on your car? Got a fence so your kids can play safely? Do you have passwords on your computers? How about your bank accounts? Do you protect your credit card numbers? Your social security number? How about your medical records? Do you think curbs, guardrails, and traffic lines are a good idea, or should people be able to drive any where and any way they want? How about security borders at the airport—necessary or optional?
The truth is everyone believes in secure borders. In fact, life would be impossible without them. As long as human nature is what it is—bent toward evil—borders will be necessary. The only question is “Where am I going to draw the borders for my own security?” Read More →