Senator Elizabeth Warren is perhaps best known for advancing the narrative that the 2000s housing bubble, collapse, and Great Recession, from which much of the US and the world have yet to fully recover, were the result of “unfettered Wall Street bankers tanking the economy” by “tricking borrowers” into bigger homes and debts than they could afford. This, she asserts, was helped along by the banks’ dramatically increasing lending to “subprime” borrowers, thereby fueling a real estate bubble and then ushering in a “subprime foreclosure crisis” that “spread to” the rest of the economy. Based on this thesis, she has proposed numerous new regulations, some of which happen to address other legitimate concerns, but none of which address the root cause of the housing and foreclosure crises in the US and around the world. Nor does she address the massive leveraging-up of most developed countries’ household sectors, whose debts continue to weigh upon the world economy.
Obamacare is known by its official name: the Affordable Care Act. As I’ve said often, one constant in politics is that the law being considered will do the exact opposite of what the politicians say it will do. Another constant is that politicians will create a problem, create a solution for the problem they created that creates more problems, then create another problem-causing solution to follow. And they always require more money. Obamacare is no exception. The real solution is to turn to a free market in which consumers either negotiate costs directly with insurance companies for coverage they need at a cost they can afford, or better, where the consumer negotiates prices and treatment directly with the healthcare provider.
“The Jury has the right to judge both the law and the fact in controversy.” That statement was penned not by some modern-day political theorist, but by John Jay, first Chief Justice of the United States Supreme Court. It did not reflect some quaint or offbeat ideology, but rather, the consensus of opinion at the founding of our nation. Our Founding Fathers understood that the constitutional republic they had crafted was a fragile thing. Without the proper safeguards, it could in time fall prey to tyranny masquerading as law. They recognized that one of the most essential of safeguards was the power vested in the common citizen through the jury box.
There is an established order and protocol for most things and efforts to always bring about more total control through more order and protocol. This is why so many of the largest human organizations and institutions are so bureaucratic, so hive-like and so hierarchical.
A recent Gallup poll and a poll done shortly after 9/11 shed light on how healthcare’s hyperinflation and under-performance is fueling the Trump and Sanders phenomena. Financial anxiety and a general sense that things aren’t working sow the seed for movements. On the bright side, the horrible under-performance of how healthcare gets purchased and delivered has caused a few positive responses already