“I’ve abandoned free-market principles to save the free-market system,” President Bush told CNN, defending his offer of $17 billion in loans to the Big Three “to make sure the economy doesn’t collapse.” Thus did Bush concede that protectionism, if a critical U.S. industry is in peril, must trump free-trade ideology. …
“De mortuis nil nisi bonum.” Of the dead, nothing but good. So said Dean Acheson of Sen. Joe McCarthy on his death in 1957. “Tailgunner Joe” had bedeviled the secretary of state for his lassitude toward communist penetration of State in President Truman’s time. But the passing of Mark Felt, …
“GOP to Detroit: Drop Dead!” So may have read the headline Friday, had not President Bush stepped in to save GM, Ford and Chrysler, which Senate Republicans had just voted to send to the knacker’s yard. What are Republicans thinking of, pulling the plug, at Christmas, on GM, risking swift …
by Patrick J. Buchanan “Something is rotten in the state,” says Marcellus in “Hamlet.” Well, it certainly is in the state of Illinois. Yet, on hearing U.S. Attorney Patrick Fitzgerald describe a plot by his governor to sell his Senate seat — “conduct (that) would make Lincoln roll over in …
In a deepening recession, what does the reasonable man do? Seeing friends laid off, he will get rid of all but essential credit cards, dine at home more often, terminate unnecessary trips to the mall, put off buying a new car, give up the idea of borrowing on the vanishing …
Arguably the most successful act of revolutionary terror was the June 1914 assassination of the Archduke Francis Ferdinand in Sarajevo. Believing his mission to murder the heir to the Austrian throne had failed, Gavrilo Princip suddenly found himself standing a few feet away from the royal car. He fired twice, …
Barack Obama and George W. Bush seem to have come away from their study of the Great Depression with similar conclusions: To wit: After the Crash of 1929, the Federal Reserve did not move fast enough to save the banks and inject cash into the economy. Second, the New Deal, …
The morning after Barack Obama’s election, the congratulatory message from Moscow was in the chilliest tradition of the Cold War. “I hope for constructive dialogue with you,” said Russia’s president, “based on trust and considering each other’s interests.” Dmitry Medvedev went on that day, in his first State of the …
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