Arthur Brooks, at The Wall Street Journal suggests that there’s a bit of a culture war going on about the future of capitalism. The headline suggests that “The Real Culture War Is Over Capitalism “

There is a major cultural schism developing in America. But it’s not over abortion, same-sex marriage or home schooling, as important as these issues are. The new divide centers on free enterprise — the principle at the core of American culture.

I dare suggest Brooks in this quote, has this exactly backward. He’s pointing at a symptom and labeling at the root cause. Not that I blame him, really. It’s been so long since we’ve dealt with things on the level of principle that even the more learned among us get it garbled in translation.

I agree with Arthur that this is a war that is cultural in its nature. However, the war over capitalism, as he calls it, is part of the war on culture because capitalism in its truest sense can only exist in a free society, which is a culturally generated condition. It is the product of a particular variety of culture that… (at least until recently)… we here in these United States have been blessed with. What I am suggesting is that the principle at the core of the American culture is in fact freedom, of which capitalism is a product.

While it is true that there are a few places in the communist world, China for example, where capitalism raises its head in some form, it is diluted in the extreme. It is in fact, capitalism in name only. Alas in the view of many, a goodly number of which were out on the front lines of the tea party protests last month, that kind of weak as dishwater capitalism, capitalism in name only, is the [...]

Next to the Holy Bible, the US Constitution is probably the most important document you will ever come in contact with. Some may argue whether the Bible actually takes precedence, but that’s a discussion for another time.

But few would debate that that, in a world where we put aside our differences with regard to faith, the document hammered out in 1787 to replace the failing Articles of Confederation is the most important bullwork to protecting our liberties.

And yet, without the accepted social contracts that the Constitution implies we operate under, and the willingness of those who “lead” our nation to maintain the integrity of the purpose and protections the Constitution affords us, we would likely drift into chaos. But as long as we can point longingly at that document and proclaim it’s efficacy to protect our rights, we are safe.

Oh dear.

On Saturday, I spent my usual morning perusing my favorite daily periodical, the Wall Street Journal. As I began reading an interesting piece by David B. Rivkin Jr. and Lee A. Casey on the D.C. Voting Rights Act (an excellent treatise on the issue), my dear wife (who likes to [...]

The Wall Street Journal states the bloody obvious:

According to recent Gallup polls, the president’s average approval rating is below 30% — down from his 90% approval in the wake of 9/11. Mr. Bush has endured relentless attacks from the left while facing abandonment from the right.

This is the price Mr. Bush is paying for trying to work with both Democrats and Republicans. During his 2004 victory speech, the president reached out to voters who supported his opponent, John Kerry, and said, “Today, I want to speak to every person who voted for my opponent. To make this nation stronger and better, I will need your support, and I will work to earn it. I will do all I can do to deserve your trust.”

Those bipartisan efforts have been met with crushing resistance from both political parties.

Rejected from the Democrats because that’s what the Democrats do. Reach out to them, they’ll break your arm… as Bush Sr found out. Remember[...]

If you’ve not read Daniel Henninger’s column in the October 2, 2008 edition of The Wall Street Journal, I encourage you to.  In this column, Mr. Henninger defines the term “moral hazard”, particularly as it relates to Wall Street, Fannie Mae and Freddie Mac, and Congress.  He writes:
Borrowers across America took a dive for low- [...]

In an interview on CNBC television today, Warren Buffett disclosed that he wants to pursue buying some of AIG’s units.  This could reduce the impact of the AIG bailout on taxpayers since Berkshire Hathaway can help shore up some of the weaknesses in AIG as those units are integrated into Buffett’s empire.  According to Reuters:
Buffett said he [...]

Today US Treasury Secretary Henry Paulson announced plans for the new Federal Housing Finance Agency (FHFA) to take Freddie Mac and Fannie Mae into conservatorship.   The power to do this was provided in HR 3221 which was passed in July.
The move includes replacement of the CEO of both organizations, and an infusion of about $200 [...]

Democrats for decades have been struggling with the inner turmoil of diverse political positions which have kept their party from setting a course that all Democrats can get behind.  And this partly why that party has bled so many conservative Democrats to vote for Republican Presidents.
Obama has succeeded in achieving the role of presumptive Democratic [...]

In this weekend’s Wall Street Journal, there is a report of an investment made by Nancy Pelosi and her husband.
They put somewhere between $50,000 and $100,000 into T. Boone Picken’s company, Clean Energy Fuels Corp.
At first blush, the relatively small amount (compared to millions of dollars in assets held by the Pelosis) would make most [...]

By now you probably know that both Freddie Mac and Fannie Mae have had very poor quarterly reports.  Worse than expected.  And now we’re in for worse trouble.
Money is now expected to be tighter as we roll into the fall and home buying will continue to be slow due to the fact rates will be [...]

I don’t always like some of the things that Steve King says (I think he may have good motives, but perhaps suffers from Bushitis), but I was glad to see he was still in Washington DC along with a number of other House Republicans to continue protesting the No Vote Vacation.  Here are King’s comments [...]