Written by Mike Getlin | 14 April 2008

Sub-Prime Numbers
The credit crisis and what it means for the future of the American economy
By Mike Getlin

It's 4:30 am and you just stumbled out of your hotel room at the Flamingo. You walk down past the carefully constructed live penguin exhibit, through the casino, and over to the sports book. Bliss! But what could make it even better?

What if you could walk up to the counter and place a bet on your favorite hometown team without any chance of losing a penny? Even if you’re a Dolphins fan, you could throw your hard earned cash in the pool, kick your feet up, sip your mai tai, and chuckle to yourself as your team gets bludgeoned, all the time knowing that someone else would cover your loss as your sub-prime football team stumbles back into the locker room after four quarters of embarrassment.

As it turns out, this is pretty much exactly what's happening right now in the financial sector.

Back in the day, bankers made loans based on a carefully constructed series of criteria and discipline. If they wrote a mortgage that their client could not pay, it was their job on the line if the loan went belly up. But as the US real estate market grew exponentially through the later part of the 20th century, the nature of mortgage lending changed drastically.

You know those bankers who summer in the Hamptons and dress to impress? You know, the really smart guys who know so much about everything that we are all better served to just let them handle our economy while we catch up on the latest episodes of the 639th season of Survivor? Well, those guys had an idea.

Written by Justin Hartfield | 10 April 2008

Why the Speed Limit Should Be 100 MPH

"I can't drive 55" - Sammy Hagar

By Justin Hartfield

In my mind, there's nothing sexier than a Split Window Corvette, a '59 Cadillac Brougham or even an '87 Buick GNX. (Author's Note: Upon second review I would like to revise my answer to read "a half-naked Keira Knightley in a 2008 Aston Martin DBS"). These are the cars that sparked my initial curiosity for everything that drives on four wheels, something which continues to this day.

Yes, Detroit had some great victories along its checkered business career. They pioneered many innovations in the industry (aesthetic and technical) and blazed the trail for the dominate Asian and European manufacturers today. But as a whole, even the most ardent American car loyalist would concede that during the 80s and 90s, America produced some of the most hideously flawed cars the world has ever known. For all intents and purposes, they were practically Model-T's with self-starters.

But luckily, we are almost a decade removed from the monstrosities of old. Due to advancements in engine management technology, cars can go a lot faster for much cheaper now, more so than any other time in the past. Cars don't go 0-60 in twenty minutes anymore. That's why the speed limit should be increased to a more modern, yet quite manageable 100 miles per hour.

Here's why this is the best idea since the negative income tax:

Written by Joe Holmes | 09 April 2008

Universal Health Care Is *Not* a Fundamental Right

Debunking the now-common myth that humans are born with the right to free health care

By Joe Holmes

I used to subscribe to the idea that universal health care was a good idea in theory, but unworkable in practice. Over time I have come to the conclusion that not only is universal health care impractical – it is immoral. For decades the Democratic Party has attempted to elevate health care to the status of an individual liberty; that is, by virtue of one’s citizenship one has a right to health care. Indeed, both Hillary Clinton and Barack Obama have made statements to this effect. Ms. Clinton clearly stating that “Health care is a right, not a privilege,” and Mr. Obama maintaining that “If you are one of the 45 million Americans who don't have health insurance, you will have it after [my health care plan] becomes law..” I believe when we analyze the nature of rights in general this argument breaks down and exposes the fundamental flaw of socialized medicine.

The Declaration of Independence clearly articulates the fundamental rights consistent with a free society. These rights consist of life, liberty, property, and the pursuit of happiness. These rights are rights to action, not to rewards from other individuals. It can properly be said that these four rights impose no positive obligations on other people, merely the negative obligation of others to leave you alone. Such a system guarantees you the chance to work for what you want; it does not entitle you to be given anything without your own effort. By virtue of my citizenship I have a right to procure property for myself; I do not have a claim to the property of another. The right is only to the action – the pursuit of property, not to the actual property itself.

Written by Dr. Troy Camplin | 08 April 2008

Written by Matt Fay | 07 April 2008

A Few Bad Apples, From a Radioactive Orchard

By: Matt Fay

"You want me on that wall…you need me on that wall.”

- Col. Nathan Jessup (Jack Nicholson), A Few Good Men

Donald Rumsfeld in 2004, attempting to defuse the scandal that erupted over abuses that took place at Iraq’s Abu Ghraib prison, claimed that it was the work of “a few bad apples.” The truth of the matter is….he was right. The overwhelming majority of the United States armed forces consist of men and women who put on the uniform to defend their country and do so with dignity, honor, and respect. The fact that incidents like Abu Ghraib or the vicious rape and beating of a twelve year-old-girl near a marine base in Okinawa have been significant occurrences should in no way be seen as an indictment of the entire military or the men and women that have served their country honorably. Though, those individuals responsible for incidents such as these do need to be held accountable for their actions.

What is unfortunate is not that “a few bad apples may spoil the whole bunch,” but that the ground on which this metaphorical military orchard has been planted is radioactive. The imperialism and militarism of American foreign policy, of which the several branches of the armed forces are the main tools of implementation, will continue to increase the “bad apples” and “spoil” the reputations and hard work of the rest of “the bunch.”

So, how did the United States armed forces come to be situated in this radioactive field? What radioactive elements were sown into this ground? There are numerous factors that contribute to the occurrence of incidents like Abu Graib, but the three radioactive elements underlying these incidents are an empire of military bases spanning the globe, a culture of military worship, and an interventionist foreign policy.