Conservatives and the Elephant in the Living Room

One of my pet peeves is the conservative who lectures us on the “limits” of markets and looks with a self-satisfied and condescending shake of the head upon the stupid rubes he must endure who persist in supporting the market all the same. Why, haven’t these dopes read Wilhelm Roepke, whose views are to be considered definitive?

In this unfortunate post, we get the usual laments about what “capitalism” has done to the public. If only banking had stayed local we wouldn’t have had all these problems, etc.

Absent as always from these critiques is any discussion of the Federal Reserve, the elephant in the living room, which is a friend neither of localism nor the free market. Likewise absent is any acknowledgment that to call the banking system of today a “free market” is at best an expression of one’s sense of humor. As I’ve noted elsewhere, the current system is rather far from the Misesian ideal; it includes:

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Michigan State and Local Govts Propose NDAA Nullifying Bills

Citizens of Michigan continue to press for passage of a state law that would nullify the execution of the National Defense Authorization Act (NDAA) within the boundaries of the Great Lakes State. One such effort was begun by Michigan Representative Tom McMillin on June 14 when he introduced his bill to prevent the arrest and indefinite detention of citizens of his state under the authority of relevant provisions of the NDAA. According to the text of the legislation:

No agency of this state, no political subdivision of this state, no employee of an agency of this state or a political subdivision of this state acting in his or her official capacity, and no member of the Michigan national guard on official state duty shall aid an agency of the armed forces of the United States in any investigation, prosecution, or detention of any person pursuant to 50 USC 1541, as provided by the federal national defense authorization act for fiscal year 2012.

As reported by the Tenth Amendment Center (TAC):

Work to nullify NDAA detention provisions also continues at the local level in the Great Lakes State. On July 18, Oakland County Commissioner Jim Runestad introduced an NDAA Liberty Preservation Resolution for consideration, and on July 26, Allegan County Commissioner Bill Sage will introduce an identical resolution to that county commission.

County Commissioner Sage is quoted in the TAC article saying, “Citizens cannot stand by and permit this type of travesty against the U.S. Constitution that all local, state, and federal officials took an oath to protect.” In an effort to bolster the strength and scope of the grassroots campaign in his state, Sage and other likeminded Michiganders formed a “citizens’ action committee” called WOLF PAC. WOLF stands for “We the people Of Liberty and Freedom.”

According to the group’s website, WOLF PAC is dedicated to supporting “our Great Republic” through lobbying to:

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