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Oct 24 2014
 by Bill B. May

CHINA

Turmoil In The Communist State

It seems that every so often China gets paranoid and begins to crackdown on its citizens.  According to this news story, it appears to be happening again.  It is possible that the demonstrations of Hong Kong have lit worries among the Communist elite.  A dictatorship just cannot let things get out of hand.  It must be ever vigil that the people are not ready to rebel.  Yet the nature of the human brain is to strive for freedom.   People want to do what they want to do.  This is the main principle of liberty.  And the only constraint of total freedom is the obligation not to violate the liberty of other people.  But Communism can't allow people to become free because it threatens their central planning objectives.  People must follow the dictates of the Central Committee in order for the planning to work, if it ever works.  To do that, liberty must be curtailed.   And that is the rub.   Communism is an affront to freedom and human nature.  It can never work as well as a free society.

EBOLA

 New York Doctor Tests Positive For Ebola,

Had Used Public Transportation

New York City doctor who recently traveled to West Africa has tested positive for Ebola, a major development that had health officials tracing the 33-year-old’s every step in the nation’s largest city.
 
Mayor Bill de Blasio publicly confirmed that Dr. Craig Spencer, who returned to the U.S. from Guinea via Europe on Oct. 17, is the fourth person to test positive for the viral disease while in the U.S.
 
Leading from behind again; Obama avoided decisions until the evidence was in.   Yes, you don't want to jump the gun but a reasonable man would look at the seriousness of some issue and decide not to take a chance on procrastination.  That is the history of Obama.  Never make a decision until forced to.  Even then, while he procrastinated, he didn't seem to make better decisions.  It is hard to list decisions that in retrospect are the correct ones. 

WHO: Millions Of Ebola Vaccine Doses Ready

In 2015

The World Health Organization says millions of doses of two experimental Ebola vaccines could be ready for use in 2015 and five more experimental vaccines will start being tested in March.

EUROPEAN ECONOMICS

Almost One In 10 Big Eurozone Banks Will Fail

ECB Stress Tests

The eurozone's unprecedented tests of its biggest banks' financial health will fail at least 11 institutions - almost a tenth of the 130 banks being tested by the ECB.
 
I'm sure this is a big issue in Europe and there is a sizable chance that lots of people will lose their assets, if and when these banks fail.  But having the "government", in some form or another, try to fix a bank is folly.  Reputation is what keeps banks in business.  Government directives are not a way to insure reputation.   Here we have governments all over Europe and elsewhere that are deeply in debt and that, without outside help, would fail.   We're depending on them to regulate the banks?   Folly.  Yet when these countries get help, they don't do the correct things to solve the problem.   The real problem is that bureaucrats in government, whether running the government or overseeing the banking system, don't have skin in the game.  If that bureaucrat went home at night worrying about survival tomorrow, then something would get done.  But the system is not set up that way and never will be.  Only private enterprise, without government involvement, puts the bank owner in that position.   Some of these banks need to fail. Band aids only prolong the problem.  Well, that is brutal, you might say.  What about all those innocent depositors in the failed bank?   Those depositors are worth something to a healthy bank.  In bankruptcy, the process needs to be free for a healthy bank to pick up the pieces, forget the stockholders and bondholders of the failed bank, and move on.  Depositors too need to spend time evaluating their bank's condition.  If it is scary, withdraw the funds and go elsewhere.  There are no guarantees in life and one has to evaluate the best way to protect one's assets.  You can't rely on someone else to do that, particularly a bureaucrat with no skin in the game. 
 

NEWSBALANCE

We post many more articles than highlighted on this page.   Some are highly ranked but don't meet my notion of deserving special attention, perhaps because they were covered recently.   I invite you to peruse all the posted articles, or maybe just the liberal onesor the conservative ones
 
 
 
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