This is the mailbag issue I promised you last week. There was so much to write about earlier in the week that I kept putting it off. Thankfully, Donald and his deputy gave me a lot to write about. Luckily, yesterday was a slight pause.

Let’s get straight into it.

“Grossly Deceptive Product”

Seanie The Prescient,

OK, two greats in this: I caught Dan Bongino’s videos during the Trump assassination attempts. He pulls no punches, hides no feelings, relentlessly revealing the covert & corrupt. A pit bull could only wish for such blatant bravery & terrifying tenacity.

I have already written to you about the housing price/equity issues. But further down, your take on taxation reminds me of a rework I have to the GDP calculation: Government spending should be subtracted from GDP, NOT added. If ‘programs’ need funding, or the economy needs goosing, then that government is not efficiently fostering domestic production. That simple. I bet Elon would like it. What do you think?

Many Thanks again!

Helyn D.

Thanks for writing, Helyn. I wish I were more prescient about stock prices! HA! Yes, I’m pleased about the Bongino appointment. As it’s currently calculated, GDP is a spending measure, not an output measure. I like your thinking. I remember when Dubya moved GDP up 3.5% in one quarter because of increased defense spending. GDP is another legacy of Keynes's thinking that his mathematics could control the world.

Incentives and Outcomes

Nice libertarian take on what's wrong with big gov't, bureaucracy, and corruption. Of course, capitalism also looks good in Econ 101. The problem with both - most public endeavors, really - is flaws in people. People will vote themselves free stuff; businessmen will sell tainted products and bureaucrats will take bribes. We, in turn, ask government (!?) to fix it, but that just makes it worse, and we find ourselves with today's conundrums. Wanna save the future? Don't build a better mousetrap, raise better people.

Damon C.

Raising better people is challenging to do in a secular world. After all, my morals may not match your morals. People who favor abortion never think they’re immoral. Was Daniel Penny moral when he choked out that robber on the subway? I certainly think so. But many disagree. So, is tolerance for other viewpoints the answer? I’m reminded of G.K. Chesterton, who once said, “Don’t be so open-minded your brains fall out.”

People can only vote themselves free stuff in a democracy (that soft variant of communism). Businessmen can only sell tainted goods when they have no fear of bankruptcy, a socialist construct. Bureaucrats can only take bribes in a communist or socialist setting. (See what happens to a Singaporean politician who takes bribes.) In its simplest form, capitalism is simply the absence of interference between buyer and seller. I defer to Charlie Munger who said, “Show me the incentive and I’ll show you the outcome.”

Minarchism

Hi, Sean,

This was an interesting piece. But I wonder, has there ever been a minarchist state for any length of time? I was trying to relate this to the early US and wondered how close we were to that state. I don't think very close at all. While the federal government started small and essentially minarchist, the states were very much into legislating the details of people's lives (the Church did the rest of the legislating). If there was, how long did it last and did it exist without the Church's heavy involvement in monitoring and legislating people's lives? So, I wonder, isn't even a minarchist state a total pipedream and not worth other than aspiring to?

Jim S.

Hi Jim, thanks for writing in and for the kind words. Here’s a great picture of a formerly minarchist place:

This is Germany before Bismarck united the place. It’s too long to include here, but Goethe’s thoughts on a united Germany will shock you. (He was completely against it.) Read all about it here and here.

Speech! Speech!

Sean,

Your Rude is one of my daily favorite "reads." As a history major with an MBA, your ability to explain the historical perspective of economic movements and shed light on what is so often "stupidity" is, dare I say it, awesome. Your summary of Vance's speech and Europe has been one of your best pieces.

Thanks,

Debbie H.

That’s very kind of you to say, Debbie. Thank you!

Wow! Why Trump Gives Freedom Lovers The Giggles might be the best article I’ve read from you, Sean. I agree with you all the way. My golf swing coach once told me “less is more” and that’s what I think about government. Thank you for writing that. I wish our leaders would heed your advice.

Randy S.

Thank you, Randy! I wish our leaders would, as well!

Other Sundries

You have a real knack! You write about stories or subjects that I am interested in even though I did not know it. Your FHA article is an excellent illustration of that very point. Nicely done, sir!

Andrew R.

Thank you Andrew! I’m thrilled you - anybody, really - found that interesting!

You consider lying to senators at a confirmation hearing an "Oops!" - of course you do, you're a Trumper. 

Dennis G.

Dennis, I am a Trumper. And, yes, I consider lying to senators at a confirmation hearing a mere “Oops!” But I do not consider lying to senators at a confirmation hearing a mere “Oops!” because I’m a Trumper.

I think about it in the following ways.

First, they’re not supposed to be “confirmation” hearings. The Senate only gives “advice and consent,” not approval. The President should get who he wants in the seats he wants them in without hindrance. “Advice and consent” is there only to ensure he doesn’t put a criminal in a seat, not someone who agrees with most senators. So the entire process is a sham to begin with.

Second, if Kash Patel would’ve jeopardized his nomination over who his deputy would be, I’d have considered him an idiot unfit for the job. After all, if a scumbag like J. Edgar Hoover could hold the job for 48 years (both at the FBI and its predecessor, Bureau of Investigation), then someone like Patel deserved time to prove himself.

Third, senators like Warren and Sanders, along with the rest of them, lie daily. When they start holding themselves to truthful standards, I’ll hold those they question to the same standards. Until then, forgive me for remaining dry-eyed about the thing.

Wrap Up

Thanks again for all the great mail. If you have any questions, comments, or issues, please write to feedback@rudeawakening.info. I genuinely love hearing from you.

Also, my Morning Reckoning piece on why The Donald wants Greenland will be out later this morning. It’s an eye-opener, for sure.

Have a great day!