Quotes

"Fascism and communism both promise "social welfare," "social justice," and "fairness" to justify authoritarian means and extensive arbitrary and discretionary governmental powers." - F. A. Hayek"

"Life is a Bungling process and in no way educational." in James M. Cain

Jean Giraudoux who first said, “Only the mediocre are always at their best.”

If you have ten thousand regulations, you destroy all respect for the law. Sir Winston Churchill

"summum ius summa iniuria" ("More laws, more injustice.") Cicero

As Christopher Hitchens once put it, “The essence of tyranny is not iron law; it is capricious law.”

"Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan

"Law is where you buy it." Raymond Chandler

"Why did God make so many damn fools and Democrats?" Clarence Day

"If I feel like feeding squirrels to the nuts, this is the place for it." - Cluny Brown

"Oh, pshaw! When yu' can't have what you choose, yu' just choose what you have." Owen Wister "The Virginian"

Oscar Wilde said about the death scene in Little Nell, you would have to have a heart of stone not to laugh.

Thomas More's definition of government as "a conspiracy of rich men procuring their own commodities under the name and title of a commonwealth.” ~ Winston S. Churchill, A History of the English Speaking Peoples

“Laws are like cobwebs, which may catch small flies, but let wasps and hornets break through.” ~ Jonathon Swift

Thursday, April 21, 2016

Maybe We Can Give Puerto Rico to Cuba?

Is there something inherently imbedded within the Spanish Language that brings out incompetent and corrupt government where ever it is the presiding language? m/r

A PR Nightmare | The American Spectator

By Scott McKay – 4.19.16


The Left screwed up Puerto Rico, and the Republicans are going to be blamed for the outcome.

There are three options for House Republicans to take with respect to the burgeoning debt crisis in Puerto Rico. All three are bad.


If you’re like most Americans, what you know about the Puerto Rico debt problem is what you’ve seen on the nearly ubiquitous cable news commercials warning that “the politicians” are going to “bail out Puerto Rico” and its left-wing government by “robbing Americans of their savings.” This, because there is a bill being kicked around in the House Natural Resources Committee that would allow for a restructuring of some $70 billion in government debt the island territory has run up over the years. The bill in question is being pushed by House Speaker Paul Ryan and a number of other Republicans, but it’s being assailed on both sides.

Essentially the bill, titled the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), is a cramdown. It would put a commission together that would seek to force Puerto Rico to reform its fiscal policies — the island’s government is an avatar of Latin American leftist waste and corruption, particularly personified by its staggering $4 billion K-12 public education spending and thoroughly mismanaged government-monopoly power company. The bill would also impose a haircut on the bondholders by allowing Puerto Rico to access Chapter 9 municipal bankruptcy laws in large part. Several major Wall Street hedge funds helped accelerate the island’s debt crisis by snapping up $3.5 billion in bonds Puerto Rico floated in 2014, after its
debt had been downgraded to junk status.

From a Republican perspective, the question is whether the cramdown favored by Ryan is a better option than the “let it burn” stand favored by Rep. John Fleming (R-Louisiana). In a Daily Signal piece last Friday, he warned that a debt restructuring for Puerto Rico will only pave the way for a similar debt default by irresponsible governments on the mainland.

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