In this issue

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Sept. 30, 2008 / 30 Elul 5768

Government Failure as Usual

By Tom Purcell

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http://www.JewishWorldReview.com | Of all the annoyances to come out of the financial crisis, this one takes the cake: French intellectuals are mocking us.

According to the Los Angeles Times, finance officials, regular Joes and leftist intellectuals within Europe have condemned the perceived breakdown of America's capitalistic system.

French intellectuals have been gloating about it. They are making "gleeful allusions to the stock market crash of 1929." They are expressing nostalgia for "the good old days when bankers jumped out of windows." They are criticizing government plans to bail out U.S. corporate giants who otherwise loathe government.

But they have entirely misunderstood the cause of the problem. America's capitalistic systems didn't fail. Our government did.

You see, the money-lending business used to be rigid in America. Bankers used to apply draconian measures: They demanded that applicants have jobs, decent credit histories and enough dough to make a down payment.

But some in our government felt such requirements were unfair. Some 31 years ago, they passed the Community Reinvestment Act into law — and turbocharged that law during the Clinton years. It requires lenders to extend loans to folks who would not otherwise qualify.

In the meantime, another government entity — the Federal Reserve — pumped easy money into the economy. Pretty soon, any old fool could get a loan.

And as every old fool did get a loan, the loans were packaged and happily sold to quasi-government organizations, such as Fannie Mae and Freddie Mac. The role of Fan and Fred is to buy up loans from lenders so the lenders can then lend more money to other home buyers.

But Fan and Fred started buying some loan packages that included "subprime" loans because they paid higher returns. The higher returns allowed Fan and Fred to show higher profits (on paper, anyhow). The higher profits allowed the government cronies who ran Fan and Fred to give themselves multimillion-dollar bonuses.

So long as the housing bubble was expanding — and Fan and Fred regulators were kept at bay — everyone was happy. Folks invested in Fan and Fred, because, as quasi-government organizations, everybody figured the government would bail them out if they ever went belly up.

Fan and Fred did go belly up and taxpayers were forced to bail them out.

But the financial mess the government helped create is now so widespread, the only way to head off an even greater mess is more government intervention — the borrowing of lots more taxpayer dough to keep the massive house of cards from collapsing.

Our government is just getting warmed up.

Negative economic news is benefiting the Democrat candidate. The more people panic about the financial markets, the more voters — for reasons that make no sense to me — think Obama's ideas will lead to better economic conditions.

But his ideas will lead to more government meddling. He's promised to raise a variety of taxes, such as the capital gains tax, even though his increases will hurt investment and damage the economy.

He's promising billions in new spending to fund all kinds of new programs, which will divert even more money from the private sector to the government sector — and further slow the economy.

He's promising to apply similar government philosophies — the same command-and-control meddling that has perverted our financial systems and led to the crisis we are in — to "fix" health care, the environment and a host of other challenges.

So, my French intellectual friends, don't gloat over the demise of America's capitalistic system. It is our government system that did most of the failing. And government failure always begets more government.

Which ought to make you happy. Where government intervention is concerned, America is becoming more like France every day.

If we keep it up, our economy will soon be as anemic as France's. We'll soon have lots more unemployed folks sitting around cafes complaining about the failure of American capitalism.

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© 2008, Tom Purcell