Happy Independence Day!
Today, as we enjoy time with our friends and families, revel in the fireworks and devour our barbecued food, we’re celebrating the 236th Birthday of our great nation. But more importantly, we’re celebrating 236 years of independence – independence from tyranny and oppression.

We all know that the Declaration of Independence was signed by the 56 members of the Continental Congress on this date 236 years ago. Most of us even know how the powerful statement contained in it’s beginning; a statement that has defined Americanism throughout our history. But how many of us have read through the entire document, where the grievances of the original states are enumerated? The American Revolution was far more than a tax revolt. We’re taught in history class that the Stamp Act and Tea Tax were the sparks that ignited the insurrection against the British crown. While far from popular, the reality is that the imposition of those taxes were but symptoms of a far larger problem for the Americans. That problem was the way the British government disregarded the basic liberties and freedoms of the American colonists, granting or revoking them as it saw fit.
Just like those brave men and women 236 years ago, we believe that the “inalienable rights” of life, liberty and pursuit of happiness cannot be impinged upon by any government – and that any government that tries is answerable to the people. It is what defines us as a nation and a people. It is the essence of American Exceptionalism – that a nation can be founded more on an ideal than a population or geography. To this day, we remain unique in this regard: no other nation can lay claim to such distinction.
Below is the full transcript. Read it through. Remember why celebrate the day, and why freedom loving people the world over celebrate with us.
IN CONGRESS, July 4, 1776.
The unanimous Declaration of the thirteen united States of America,
When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.–That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, –That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.–Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.
He has refused his Assent to Laws, the most wholesome and necessary for the public good.
He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.
He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only.
He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their public Records, for the sole purpose of fatiguing them into compliance with his measures.
He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.
He has refused for a long time, after such dissolutions, to cause others to be elected; whereby the Legislative powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within.
He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands.
He has obstructed the Administration of Justice, by refusing his Assent to Laws for establishing Judiciary powers.
He has made Judges dependent on his Will alone, for the tenure of their offices, and the amount and payment of their salaries.
He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people, and eat out their substance.
He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures.
He has affected to render the Military independent of and superior to the Civil power.
He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:
For Quartering large bodies of armed troops among us:
For protecting them, by a mock Trial, from punishment for any Murders which they should commit on the Inhabitants of these States:
For cutting off our Trade with all parts of the world:
For imposing Taxes on us without our Consent:
For depriving us in many cases, of the benefits of Trial by Jury:
For transporting us beyond Seas to be tried for pretended offences
For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies:
For taking away our Charters, abolishing our most valuable Laws, and altering fundamentally the Forms of our Governments:
For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.
He has abdicated Government here, by declaring us out of his Protection and waging War against us.
He has plundered our seas, ravaged our Coasts, burnt our towns, and destroyed the lives of our people.
He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation and tyranny, already begun with circumstances of Cruelty & perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation.
He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands.
He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages, whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions.
In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.
Nor have We been wanting in attentions to our Brittish brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which, would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of mankind, Enemies in War, in Peace Friends.
We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these United Colonies are, and of Right ought to be Free and Independent States; that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. And for the support of this Declaration, with a firm reliance on the protection of divine Providence, we mutually pledge to each other our Lives, our Fortunes and our sacred Honor.
ObamaCare Constitutional (Sort of)!
The Supreme Court issued their ruling on the Patient Protection and Affordability Care Act earlier this morning. The short story is, the act stands. But there is much in the ruling that I can see making the President and entire Federal government wishing they had never taken this up to begin with.
For staters, the Individual Mandate is completely unconstitutional. No ifs, ands, or buts.
“Construing the Commerce Clause to permit Congress to regulate individuals precisely because they are doing nothing would open a new and potentially vast domain to congressional authority. Congress already possesses expansive power to regulate what people do. Upholding the Affordable Care Act under the Commerce Clause would give Congress the same license to regulate what people do not do. The Framers knew the difference between doing something and doing nothing. They gave Congress the power to regulate commerce, not to compel it. Ignoring that distinction would undermine the principle that the Federal Government is a government of limited and enumerated powers. The individual mandate thus cannot be sustained under Congress’s power to “regulate Commerce.'”
Instead, the Court ruled that Congress can impose a “health tax” as part of the individual tax code, but again, it cannot apply a penalty to persons who refuse to participate in the insurance market. They can only impose the tax uniformly – on everyone – and then refund or credit people who do buy insurance.
But the biggest bombshell coming from this ruling is the Court’s take on unfunded federal mandates. They’ve basically eviscerated one of Washington’s favorite ploys – requiring the states to do something, but not paying for it. In this instance, it is the expansion of Medicaid to cover all persons up to 133% of the federal poverty line. Although Congress offers short-term relief for the increased expenditure, that ends in 2017 and the states eventually pick up most of the tab – or face losing all of their federal funding for Medicaid. The Court ruled that if the Feds want to expand Medicaid that way, they need to pick up the full tab – permanently.
“The Medicaid expansion thus violates the Constitution by threatening States with the loss of their existing Medicaid funding if they decline to comply with the expansion. The constitutional violation is fully remedied by precluding the Secretary from applying §1396c to withdraw existing Medicaid funds for failure to comply with the requirements set out in the expansion.”
Taken broadly, this opens a Pandora’s box of mandates to legal challenges, in everything from education (“No Child Left Behind”) to transportation (Federal Highway Funding). Fun times lie ahead, I’m sure.
I’ll have more in a few days, once I’ve fully digested all 193 pages of the decision. If interested, you can read the full thing here.
Another Take on the College Conundrum
You may recall that earlier this month I did a two-part series on the issue of college costs. Apparently, I’m not the only person who believes the underlying cause for skyrocketing tuition and housing costs is the sheer number of undergraduate students currently enrolled in two- and four-year programs.
I came across this a
rticle last night by Richard Vedder, Professor of Economics at Ohio University. Professor Vedder describes in much more detail than I allotted the cause-and-effect of increased enrollment, and also goes into quite a bit of detail about how the federal government’s subsidies only exacerbate the situation, not alleviate it. Given that word broke yesterday that the Senate did what everyone expected and came to an agreement about how to use creative accounting to extend the student loan program at current interest rates, I thought it made sense to revisit the topic. Feel free to hit the link and post your comments.
Why I’m a Libertarian
When I announce my political affiliation, the usual responses range from subdued chuckle to loud guffaw. “Oh no,” people say. “You’re not one of those crazies, are you? An anarchist, ready to abolish the government?”
Well, I am a Libertarian and have been for a quite a long time. And the reason is pretty simple: if I’m crazy, then so were men like Thomas Jefferson, Samuel and John Adams, Patrick Henry, George Washington, James Madison and Benjamin Franklin. All, excepting Madison, signed the Declaration of Independence. You might have noticed that these men, the original Libertarians, while unafraid to fight for liberty – to give their lives in the cause of liberty, if needed – were hardly anarchists. In fact, when their first attempt at organized government yielded something much closer to anarchy than we even want to dream of today, they organized the first Constitutional Convention.
So, if that’s crazy, feel free to count me in.

“The Presentation of the Declaration of Independence” by John Trumbull
To put it simply, Libertarians believe that government exists solely to protect individual freedom. But our views on where those freedoms derive are much different than that of the typical Republican or Democrat; in fact, they are diametrically opposed. Ask yourself this question: is government the final arbiter of what constitutes essential liberty? If you answered yes, then you hold the same world view as the vast majority of Republicans and Democrats.
Before you answer that the idea of a government not being responsible for deciding what freedoms we should enjoy is the definition of anarchy, consider the very document that founded our great country, the Declaration of Independence. It is more than a 236 year old piece of parchment that hangs in the National Archives. It is the very embodiment of what makes America, and Americans, unique among other nations and nationalities.
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are Life, Liberty and the Pursuit of Happiness. — That to secure these rights, governments are instituted among Men, deriving their just powers from the consent of the governed…”
Now consider the Preamble to the document that created the federal government, the Constitution for the United States of America. It is 11 years the junior to the Declaration, yet in it the nation’s founding principles are given their equal due – prior to prescribing the methods used to preserve Liberty.
“We the People of the United States, in Order to form a more perfect Union, to establish justice, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.”
When you actually read the words, two things immediately become clear:
- The essence of Liberty, of Freedom, is not something that comes from any government. It comes from a Higher Authority.
- Government exists to protect those rights, not corrupt them.
Understanding the first point is essential to truly understanding the American concept of Liberty and freedom. The only way individual freedoms are absolute is if they come from an authority higher than that of either men or their institutions. Otherwise, individual freedoms are a caprice, something to be given or withheld as determined by the fancy of others. Governments, rather than working to protect those freedoms, become dishonest arbiters of disputes. Eventually, governments (and the people governing) no longer see themselves as members of the general society, bound by contract and convention to uphold liberty. They become oligarchs; a separate class that believes itself superior to the rest of society.
Does that last paragraph give you pause? It should, because we are witnesses to that very transformation. It is not a sudden transformation that occurred in the past two or three years, either – it’s been underway for most of my lifetime. Is it beginning to snowball, accelerating in pace and breadth? Certainly, and the quickening pace over the past few years makes anyone concerned about preserving liberty queasy.
Now, as to why I identify as a Libertarian and not a Democrat or Republican: the proponents of the two major parties are our modern oligarchs, who see themselves as more fit to determine which liberties are essential and which can be abridged by the government. There truly isn’t much of a difference between them, in that both see distinctions in liberties; the difference is only in which liberties they deem more essential. The things they spend their time arguing over are actually further limitations on those essential liberties and freedoms, disguised as concern for safety of the overall society. The reason they feel secure in their deliberations is that the Nation, once enamored of Liberty, is today concerned less with freedom than safety – or at least, the illusion of safety. The people fear deprivation of material desires than the loss of freedoms. They are convinced the loss of freedom for one party will not result in a curtailing of freedom for themselves – when the reality is that any loss of freedom for any American necessitates that all Americans lose some aspect of their Liberty.
Terrific examples come from exchanges I had this week with unabashedly partisan Democrats and Republicans. I fed the same quote to both, and their reactions were remarkably similar. The quote, from Ben Franklin, is “Those who would give up essential Liberty, to purchase a little temporary safety, deserve neither.” The Democrat’s response was that Franklin has been dead 200 years, and his ideals with him. The Republican’s response was that changing times require changing mores.
That’s the final point that our founding document makes, that most Americans either forgot or were never taught.
“—And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our Lives, our Fortunes and our Sacred Honor.”
The nation’s founding principle is that the Liberty and the ideals of freedom supersede anything else. Liberty takes precedence over personal comfort, over wealth, over safety and even life itself, if necessary. The very ideal is worth fighting and dying for, as in the case of the American Revolution and the Civil War. What is more, if this principle is derived from an act of Divine Providence, then it does not disappear with the death of individuals nor the passage of time. It is an everlasting, eternal truth.
Because I am a free man and believe my freedom is not negotiable: That is why I am a Libertarian. Because I believe that the government is my servant, not my master: That is why I am a Libertarian. Because I believe that no man has the right to subject another to his will: That is why I am a Libertarian.
And if you believe these things, so are you.
Facebook Mobile Revenue Takes Another Hit
Facebook needs to make a few bucks, people. I know that sounds crazy, considering how much money they raised in their IPO – but if they lose out on mobile ad revenue, The Social Network will disappear. Read on, from my friends at TC:
The College Conundrum: An Alternative
Yesterday, I dissected the underlying problem with higher education, as it currently exists. A college education costs far more than it is actually worth.

At least Bluto wasn’t $500,000 in debt
Today’s students pay far too much and receive far too little benefit to justify the expense. What’s more, in most cases they are strapping themselves with insane amounts of debt in the process. It is a debt that hampers their ability to fully function in modern society. The resulting lack of disposable income for the first decade or more after graduation results in a generation that is incapable of financially supporting themselves. If there is an economic downturn (like now), that lack of spending power means that upwards of 40% of the labor force is unable to do those things which define a middle class lifestyle: own a home, own a car, start a family. Instead of college leading to the middle class, college results in poorly educated people (who mistakenly believe they’re highly educated) reliant on the government or their extended families for support.
So, what’s the solution? We constantly hear that without college, young people have no hope of starting in a good career, that their prospects for future advancement are limited and they will be limited in their ability to fully participate in the American Dream. And so we end up focusing on ways to make college more affordable, without actually looking at the reasons for the high costs involved.
As I pointed out, the principle reason for the inflated cost of higher education boils down to the number of people enrolled. There are 3 times as many college students today as there were 30 years ago – are we really surprised that tuition and fees are also three times higher than 30 years ago? The real question is why we are funneling so many people into colleges. If it is to prepare them for post-academic life, then there can be little doubt that we’re failing in a big way.
I’ve always felt the primary purpose of education – whether primary, secondary or post-secondary – should be a dual mission: first, basic facts and skills (the “3 R’s”) and second, developing critical thinking skills. In American education, we’ve focused primary and secondary education on the former while nearly ignoring the latter. This trend is now extending into post-secondary education. A prime example is the dreaded research paper. I shudder at the memory of writing exhaustive, well-researched papers on a weekly basis while in college. The amount of time I spent developing a final paper for each class was measured in weeks, not days. Yet, today’s students often are tasked with only one paper at term’s end and drilled in preparing for weekly quizzes – an approach similar to the high school experience. The original purpose of higher education in the American system, developing one’s mind to sift through tons of data, determine which pieces are relevant and create a cohesive argument from them, is being lost. In other words, we’re graduating millions of kids prepared for an extended stay on “Jeopardy!” but not ready for the types of jobs that traditionally require a college degree.
This is also a result of herding high school students into college. I think the best way to tackle the costs associated with college stem from rethinking the way we handle primary and secondary education. Current elementary and secondary school curricula are leftovers from the days when the United States was principally an agricultural society, and recent reforms have done little to address that fundamental flaw. If anything, the recent and increasing emphasis on standardized testing and evaluation of student and teacher achievement is a step backward and fails to address the real world situations most young people face after graduating from high school. Because our education system now deemphasizes critical thinking skills in favor of rote memorization and socialization, most kids enter into adulthood knowing a set of facts that are essentially meaningless – unless preparing for life as a game show contestant.
The best course of action, I believe, is to reintroduce vocational training during high school and reemphasize critical thinking skills, beginning in primary school.
Vocational education programs, where they do exist, are often maligned, snubbed and underfunded. However, I see nothing wrong with providing basic education in critical skills developing courses (math, the sciences, history, English) while also providing 2-3 hours per day of vocational instruction to those students who prefer that track. This is a similar education structure to the German model, essentially – only instead of four tracks of study, I would streamline it to two and I wouldn’t begin the vocational track until the age of 13 or 14, not 10. Along with making vocational education an acceptable option, though, we need to reconsider the courses available. Traditional “vo-tech” professions such as auto mechanic and machinist should continue to be included, certainly. But many professions that currently require a bachelor’s degree only require it because it signifies the holder has developed basic critical thinking skills, along with the basic technical skills required. Professions like LPN or Network Engineer do not require the job holder to have in-depth conversations on the merits of St. Thomas Aquinas’ views of married clergy; there is no reason that learning how to create such a dissertation should be part of the education process to enter those fields.
As I said, the current emphasis on standardized testing results in less classroom time devoted to developing critical thinking skills. In extreme cases, it is turning our teachers into nothing more than room monitors and test graders. The practice grew from concerns that education standards in the US lagged other first-world nations in education achievement. While the goal was and remains laudable, the prescribed cure is making things worse. As a nation, we’ve fallen further behind in academic achievement. Somebody, somewhere decided that rather than measuring academic achievement in terms of how well students think, measuring how many arcane facts and figures they memorized was important. Don’t get me wrong, a basic knowledge set is important. But without the ability to turn those facts and figures into a thought, they are nothing more than bytes of data. We need to empower teachers to create thinking students and reward those students for developing their thought processes. The notion that those skills can wait until college to fully develop is proving wrong-headed.
Of course, there are challenges associated with this type of program. The biggest is probably changing the mindset we currently have regarding education. That requires buy-in from multiple stakeholders. Teachers unions, who’ve proven resistant to change in the past. School administrators, beholden as they are to current power structures. The federal government, still trying to figure out how “No Child Left Behind” left so many kids behind. Most importantly, it requires not only acceptance but a demand from parents, who likely will be confused by the changes.
The other option is to simply continue on the current course and leave another generation of kids ill-prepared for adulthood, in three phases of their development: their academic achievement, their career preparation and the amount of debt they’re saddled with before they ever earn a dime.
The College Conundrum
This is an unusual time of year to discuss the state of higher education in America. After all, May is usually the end of the academic year for most universities. The senior classes at most have already received their sheepskins and incoming freshman won’t arrive on campus until August. We’re well into June and most folks thoughts are on summertime fun.
But as with everything in this topsy-turvy year, higher education is taking up space on the front pages of major newspapers. There are two reasons for this. The first is that federal student loan interest rates are set to double in July, a situation that will make the already insane tuition costs even more unbearable for many. The second is the re-emergence of Peter Thiel, the founder of PayPal and his entrepreneur initiative. The first has, as with everything this election cycle, devolved into a partisan fight. Not a fight over the idea of maintaining the current interest rate – both Republicans and Democrats agree they should – but a fight over how to pay for the increased subsidy. (As usual, Democrats want to raise taxes on the upper middle class, while the Republicans want to gut a Democrat sacred cow). The second highlights a more critical discussion and the one I want to focus on here: how much is a college degree worth?

Peter Thiel
For those of you who aren’t familiar with Peter Thiel, he is undeniably one of the world’s brightest individuals, something of a Libertarian lighting rod and as an immigrant, the prototypical American success story. He became something of a Web 2.0 wiz kid, when he co-founded PayPal in 1999 with Elon Musk and Max Levchin. He then founded Clarium Capital and created the Founder’s Fund in 2005. Among his noteworthy achievements, he is a chess grand master. He provided early funding for Facebook and still sits on the Board of Directors. (That initial $500,000 investment is now worth an estimated $9.2 billion, based on yesterday’s market close). Thiel also foresaw the financial crash of 2008 as early as 2004, when he correctly noted that the dot-com bubble of the late 1990’s had simply transferred to real estate.
The reason Thiel is a controversial figure in higher education is his creation of the Thiel Fellowship, whose sole purpose is to find students with great product and/or business ideas, have them drop out of school, and award them with $100,000 grants to launch their businesses. Additionally, business and engineering leaders mentor Thiel Fellows. The goal is to bypass college entirely and get right to work.
Why would Thiel, who holds BACP and JD degree from Stanford, work on a project that is popularly seen as undercutting the value of higher education? Simply put, he doesn’t believe that the way the college experience is currently constructed holds real value for most students.
And it’s easy to understand why. Stop to consider my home state’s primary public university, Rutgers. Students in the 2017 class can expect to pay about $96,000 for their four years – provided they’re a New Jersey resident (that cost balloons to $154,000 for out-of-state students). A New Jersey student from a median income family can fully expect to have to pay $84,000 after state and federal grants. Assuming they don’t receive any scholarships, that hefty price tag will come primarily from loans. This is just an illustration, of course. There are other fine universities that carry lower tuitions and fees, but the point remains: why so much? Well, the answer is actually simpler than the very public teeth gnashing might lead you to believe. Nationwide, tuition is about 300% what it was 30 years ago. Over that same time, student enrollment rose 315%. This is simple supply-and-demand economics. There hasn’t been a commensurate increase in the number of colleges and you have more students competing for the same amount of resources. Everything else (capital improvements, staff, etc.) stems from that simple fact.
But has the intrinsic value of a Bachelor’s degree risen by a similar value over that time? Probably not. You can make several solid arguments that if anything, the value of a Bachelor’s degree is less than it was when I graduated in 1989. First, there’s the sheer number of college graduates now in the work force. In 1992, BLS estimated there were 27 million college graduates, comprising about 25% of the work force. (See chart to the left).By 2009, that number reached 44 million, comprising 36% of the work force. And for our 2017 graduate, those figures are estimated to be 58 million and 45%. Where once a Bachelor’s degree separated you from the rest of your age group (and therefore put you near the head of the pack for advancement, promotion and salary), by 2009 there were more people sporting a Bachelor’s degree than people with only a high school diploma in the workforce. The BA or BS after your name has become what the high school diploma was a generation ago: a sign of basic academic achievement.
Then there’s the question of what a student learns during their course of study. Certainly, some practical workplace knowledge is gained, but most work skills are acquired as a result of internships and part-time employment. Quite a few students graduate without even the rudimentary skills required – a fact that many hiring managers are well aware of. I have a humorous anecdote that highlights the point: in 2007, I started a paid internship program at a company I ran. One of the interns was a very bright and driven kid attending one of the better business schools in New York. After he graduated in 2008, I offered him a full time position as an assistant site manager at our premier location. I was assisting during one particularly hectic event and asked him to create a pivot table in Excel. After what must have been 15 of the most frustrating minutes in his young life, he looked at me (nearly crying) and admitted he had never learned how to create one. As it turned out, he was an honors graduate who was horribly unprepared to work in his chosen field of study (Business Management). A short while later, he left both the company and the business world behind and decided to follow a vocation more to his liking (Entertainment). I doubt that young man today would say the money he spent on his degree was worth it.
There’s also the question of how much a degree actually prepares you for the life-long learning required in today’s economy. The courses I studied as a young electrical engineering major seem almost quaint by today’s needs. Hardware has changed and so has the software that drives every gadget in our possession. I received a well-grounded (pun intended) theory of how electricity works, but as for specific knowledge related to my field now – that part of my education is useless. The computer languages I use on a daily basis didn’t exist in 1988. The circuits I work with involve components that weren’t dreamt of then – and the gadgets of today do things that could only be found in episodes of Star Trek. The study habits I use to learn these new technologies aren’t the result of a well-honed college experience, otherwise my house would be littered with half-eaten pizzas and empty beer cans. I’ve probably made more use of several of the liberal arts courses I was required to take over the past decade than the ones directly related to my degree.
So, if Peter Thiel is right, what then is the alternative? We’ll look at that tomorrow.
A Soldier Died Today (Orig. posted Memorial Day, 2011)
Thanks to my friend and fellow Marine Howard Cooper for passing this along. Neither of us know who the author is, so I can’t properly attribute this poem. But while everyone else is still nursing hangovers or trying to get back in the flow of normal life, there are some of us who will not forget…

He was getting old and paunchy and his hair was falling fast,
And he sat around the Legion, telling stories of the past
Of a war that he had fought in and the deeds that he had done,
In his exploits with his buddies; they were heroes, every one.
And tho’ sometimes, to his neighbors, his tales became a joke,
All his Legion buddies listened, for they knew whereof he spoke. But we’ll hear his tales no longer for old Bill has passed away, And the world’s a little poorer, for a soldier died today.
He will not be mourned by many, just his children and his wife,
For he lived an ordinary and quite uneventful life. Held a job and raised a family, quietly going his own way, And the world won’t note his passing, though a soldier died today.
When politicians leave this earth, their bodies lie in state,
While thousands note their passing and proclaim that they were great. Papers tell their whole life stories, from the time that they were young, But the passing of a soldier goes unnoticed and unsung.
Is the greatest contribution to the welfare of our land
A guy who breaks his promises and cons his fellow man?
Or the ordinary fellow who, in times of war and strife,
Goes off to serve his Country and offers up his life?
A politician’s stipend and the style in which he lives Are sometimes disproportionate to the service that he gives.
While the ordinary soldier, who offered up his all,
Is paid off with a medal and perhaps, a pension small.
It’s so easy to forget them for it was so long ago, That the old Bills of our Country went to battle, but we know It was not the politicians, with their compromise and ploys, Who won for us the freedom that our Country now enjoys.
Should you find yourself in danger, with your enemies at hand,
Would you want a politician with his ever-shifting stand?
Or would you prefer a soldier, who has sworn to defend
His home, his kin and Country and would fight until the end?
He was just a common soldier and his ranks are growing thin,
But his presence should remind us we may need his like again.
For when countries are in conflict, then we find the soldier’s part Is to clean up all the troubles that the politicians start.
If we cannot do him honor while he’s here to hear the praise,
Then at least let’s give him homage at the ending of his days.
Perhaps just a simple headline in a paper that would say,
Our Country is in mourning, for a soldier died today.
I Shed a Tear (orig. posted Memorial Day, 2010)
I originally posted this on Memorial Day, 2010, but the sentiment is the same. As you head out to the beach, the barbecue or the ballgame today, please take a moment to remember why you have this particular Monday off from school or work.
And although it’s been two years since I originally wrote this and the little boy at the end is now not quite so little, I still want to thank him and his parents. Whenever I need affirmation that this nation still has good and just people, I think of them.

I awoke this morning to thoughts of old friends who left us too soon. It’s not an unusual occurrence; most mornings I wake thinking of the same men. When they died, they did not give in to fear; cowardice was not these men’s forte. Some died in battle, some preparing for battle. Two very good friends of mine died not in battle, but the wounds they sustained in defense of liberty hastened their untimely departure from our world. One man was known simply as Tank. He was a large man, but in his later years his body had been ravaged by the effects of two bullet wounds and prolonged exposure to Agent Orange during his two tours of duty in Vietnam. Today, I celebrate not only Memorial Day but the tenth anniversary of his passing. Although Tank never spoke of it, he was awarded a Bronze Star during his second tour. It wasn’t until his funeral that I learned how as a 23 year old platoon sergeant he ran back onto a hot LZ, taking a bullet in the back and one in the shoulder, in order to pull one of his men to the relative safety of a tree line. But anyone who knew the man wasn’t surprised to hear of his courage under fire.
This morning, as I thought of him, I shed a tear.
The other day, I watched my town’s annual Memorial Day parade. In addition to the Korean War and Vietnam vets, a detachment from the local Marine Corps reserve unit marched. As I looked at their eager young faces, I realized that most of those kids weren’t born when I earned my EGA in 1983. In fact, most of them hadn’t been born when I mustered out. Realizing that most of these young men will be shipped to Iraq or Afghanistan, I reflected on my own service. I joined to fight Communism, and like most of the world, I rejoiced when the Berlin War crashed to the ground. I truly thought my service had proven, in some small way, invaluable to the defense of the American way of life. Yet here I was, watching a new generation of Marines preparing to fight a new enemy. Had my service not been as valuable as I once thought? Had the men I had known during my service, men who had fought and died in battles around the world – had they died in vain? I decided that no, our service – their service – had been as important in our time as these brave young men’s service is today. And then I realized that none of those young men will return from their combat tours the same. Even if not scarred on the outside, even if they survive to return home physically intact, they will carry the memories of what they see and feel and endure for the rest of their lives.
And as I watched, I shed a tear.
Last night I watched the National Memorial Day Concert, broadcast from the National Mall on PBS. I listened as Gary Sinise and Dennis Haysbert recounted the final moments of Charlie Johnson’s life. I watched as a new generation of war widows were celebrated. I enjoyed the stylings of Brad Paisley. Like plenty of others, I rose to attention and sang the Marine Corps hymn during the Salute to the Services, and I rose to attention and sang again during “America the Beautiful.”
But many times during the concert, I stopped to shed a tear.
And I wondered, as I prepared to try and sleep, will anyone awake on Tuesday and remember the sacrifices of the men who have fought and died to preserve the United States? It’s terrific that we have a day set aside to pay tribute to those men. And I don’t mind that we celebrate by doing uniquely American things – backyard barbecues, trips to the beach, baseball games. But I wondered, when Tuesday comes will my fellow countrymen remember those who ensured that the backyard barbecues could continue?
A little earlier today, I went to the neighborhood bodega. It was a routine trip to pick up a few items needed for my own backyard barbecue. Like many veterans, I have a “Pride Hat.” You may have seen one perched on a veteran’s head – a military baseball cap on which are pinned his campaign ribbons. Mine is nearing retirement. It’s 14 years of service are evidenced by its faded color and the only thing keeping it together are years of starch used to block it. As a result, I only wear it on special occasions. Today being one of those occasions, I wore it on my walk to the bodega. On my return trip, a neighborhood kid – maybe 6 or 7 years old – stopped me and said, “Were you really in the Army?” I smiled and said, no, I am a Marine and we’re better than the Army. The little boy sat on his bike for a minute, seeming to take in this bit of information. The he stood, and said “Thank you” before pedaling off down the street.
I shed a tear. In fact, I’m still shedding a few as write this. Because I have my answer. For as long as children like this can find my service honorable, they will keep the flame of liberty alive. In so doing, the most important thing we can do as Americans is to remember and honor the sacrifices that so many brave men have and will endure. We will continue to live as Americans, preserving our republic as the beacon of freedom and liberty for the rest of the world.
And Now a Word about Gas Prices

Remember when "Sticker Shock" meant getting screwed by a car dealer?
Face it, you just went to fill up your tank this morning and discovered that it cost you $2 more this week than last to put 12 gallons into the tank. Last week, it was $1.80 more than the week before. And so on, all the way back to the first week in January.
You complain. You gripe. Your neighbors are equally disgusted. One of your coworkers seems to bring up the topic of exploding gas prices every day. In the meantime, you noticed that your wife spent $30 more on groceries this week but brought home less food. She’s half-heartedly joking that at this rate, it will be PB&J for dinner by summertime.
Everyone seems to be talking about the way prices are skyrocketing, but nobody seems to be doing anything about it. And I’m going to let you in on a little secret: there isn’t anything anyone can do about it.
The reason prices are taking off is the dirtiest word in economics: inflation (okay, maybe the second dirtiest word after recession). Why? People automatically assume inflation means rising prices. But rising prices are the symptom, not the problem. Inflation occurs when the money supply outgrows the demand for that money. It is classical, John Smith economics at work in its most basic form: supply and demand. When supply outstrips demand, prices fall. That’s true of any product. Build more cars than the public wants and the price of cars drops. Grow more wheat than you can sell and you slash the price to where you’re virtually giving it away. In those cases, the fix is relatively simple but usually takes time to implement. Build fewer cars. Grow less wheat. Of course, you’ll need to wait a full manufacturing cycle for production to drop to a point where the supply of cars matches the demand. You need to wait an entire year before wheat prices correct.
But what happens when you print too much money? Well, basically the same thing: you shrink the availability of money. You raise interest rates on the purchase of new capital, to make it less palatable to prospective buyers. You restrict international trade of currency. You can also do things to tinker around the edges, like demand banks hold more cash in reserve and prevent corporations from dumping cash into the market. But the reality is all of these things take time to work – a lot of time. In the meantime, the hangover effect of inflation – raising prices – hits everyone hard.
And again, the reason is simple. Wages are tied to productivity, not the price of money. In fact, inflationary periods result in reduced wage pressure because as money sloshes around in the economy, productivity declines. Not because people are working less (they’re usually working more, and harder) but because the value of work is declining along with the value of the currency. The net result is you work harder to bring home the same amount of money you were before – but that money has reduced purchasing power.
Now here’s why nothing can be done about inflation in the near term: the inflationary bubble was created between 2008 and 2010 and we’re just now beginning to feel the effects. Picture the way a tsunami moves – if you’re out on the ocean, you’ll hardly notice a ripple. As you get closer to shore, the pressure builds. Enough of a wave will swamp everything for miles inland once it reaches shore. Inflation is similar in that the pressure is created much further away than when the effects are felt – and like a tsunami, there is no way to stop the momentum once it’s put into motion. We created the current inflationary bubble when we decided to print money in order to escape the Great Recession. Most Keynesian economists (guys like Paul Krugman and Robert Reich) cheered on the printing presses and have been vocal in their calls for cranking them up even faster. They’ve pointed to the short-term pain felt throughout economies that chose to choke down on the money supply while disregarding the damage to our economy rampant inflation will cause. In short, they’ve forgotten the lessons of the 1970’s in the US and the 1990’s in Japan.
Under ordinary circumstances, their calls for greater government borrowing would make sense – given the insanely low current interest rates. But they either ignore or fail to understand how that borrowing is financed. In ordinary times, governments issue bonds which guarantee a certain return on the initial investment. Private markets purchase those bonds and new money is generated (i.e., printed) to cover the interest earned on the bonds. So long as the increase in the money supply roughly matches real growth in the economy, inflation is kept minimal. But the current spending spree ignored those basic rules of supply and demand. First, The US Treasury dumped about $3 trillion of the $5 trillion borrowed over that time directly into the finance sector. Besides the bank bailouts in 2008 and 09, there wasn’t enough demand for US Treasuries to absorb all of the new bond that were floated. So the Federal Reserve purchased them and then resold them through two round of “quantitative easing.” That direct infusion of currency outpaced real GDP growth by 5.6% alone. It doesn’t factor in the interest owed on those bonds or the effects of the nearly $2 trillion in cash the Federal Reserve created on its own. When you add all of it up, the economy now has roughly $2.5 trillion more in cash than needed to meet demand. That equates to 17% inflation – 17% more money supply than demand would allow.
This isn’t to say that we’ll actually see 17% inflation before all is said and done – there are other things that could keep the number lower. For instance, if the world’s other major currencies remain weak then the dollar will retain a semblance of strength and that would mitigate the effects of inflation. At the same time, a country with a relatively weak currency that holds large reserves of dollars (say, China) could decide they need to strengthen their currency’s relative strength against the dollar and start dumping our currency.
But until then we can conserve, or drill, or do some combination. While it will have a short-term effect of mitigating the price at the pump, the end result will be the same: gas (along with everything else) will cost more this time next year than it does today. The problem with gas prices is not supply (we have more than at any time in the past 40 years) or demand (the world is using less gasoline than at any time in the past decade). In fact, the cost per gallon of gas has actually decreased, relative to actual dollar value, over the past 5 years. But because the cost hasn’t dropped as fast as inflation has risen, the price continues to move upwards.
THAT is the dirty little secret no politician in either party wants to tell you.
Is This It for Mitt?

Will this say "Romney Defeats Obama"?
Super Tuesday came and went, only it wasn’t quite so super. If anything, the results only served to muddle the outcome further in what was an already muddled Republican primary. If you listen to the MSM, Mitt Romney solidified his role as front-runner after expanding his lead in delegates.
Ah, if only it were so simple. But nothing about this primary season has been simple. The principle reason for quagmire is that the Republicans decided this year to change things up and award delegates proportionally, but left it to the individual states to decide how the apportionment would work. State party bosses, being state party bosses, largely decided that the popular votes wouldn’t matter and state political conventions would ultimately decide how many delegates each candidate would receive. Craziest of all these is Missouri, which held a non-binding primary last month and will hold non-binding caucuses next week. It’s a system only Boss Hogg would appreciate.
The net result of all this inside horse-trading (aside from having only a relative few delegates actually apportioned) is the current morass. If, as in the ancient past (read: 2008) delegates were awarded on a winner take all basis, Romney would have commitments from 513 delegates, Rick Santorum 197 and Newt Gingrich 101. Instead, we have estimated delegate counts. Depending on the source, Romney has between 379 (CBS News’ count) and 430 (Fox News) delegates. My own personal count gives Romney 386 delegates. Regardless of which count you take, there are only two I’ve seen that give the front-runner more than 50% of the delegates contested thus far.
And that brings us to the current problem for the GOP. It is becoming increasingly possible that they will arrive at their convention without a candidate who has amassed 50% of the delegates needed to secure the nomination. Not necessarily probable, but possible. After all, there are three winner-take-all states (New York, California and New Jersey) that profile favorably for Romney and they combine for 317 delegates. If combined with his current total, that would mean he would need to win about 40% of the remaining delegates in the other states not yet voted, in order to reach the 1,144 required. It should be a doable task for establishment’s preferred choice.
Only, therein lies the problem for Romney and the establishment. They want the primary season over so they can focus on the general election. New Jersey doesn’t vote until June 5th – and if Romney hasn’t secured the nomination by then, it will mean enough of the party isn’t supporting the eventual nominee to signal significant weakness to the nation. A comparison can be drawn to 1948, the year Harry Truman became the original “comeback kid” (sorry, Bill Clinton). By all normal election standards, Truman should have been walloped that year: unemployment was rising, the economy faltering, the Soviets detonated their first atomic weapon and Winston Churchill’s infamous “Iron Curtain” was now a reality Americans faced with fear and trepidation. But the Republican nominee, Thomas Dewey, was about as inspiring as dry toast and succeeded in snatching defeat from the jaws of victory. Not unlike Romney, Dewey was perceived by many fellow Republicans as aloof and calculating – a politician’s politician. Also not unlike Romney, Dewey was disliked by the conservative wing of his party (who preferred Ohio Senator Robert Taft). The intra-party fight lasted into the convention, where it took three ballots to nominate Dewey.
Some 64 years later, the Republican Party seems to be repeating history. Certainly, the political calendar isn’t favorable to Romney. What he needs is a convincing win outside of New England to demonstrate he can bring the party together and he seems to be pouring money into Kansas, in the hope he can get it there. But after Kansas comes Alabama, Mississippi and Missouri, three states that do not favor Romney. Since it’s also highly likely that Santorum and Gingrich will split the lion’s share of delegates from these four states, one or both will probably close the gap with the Romney. The GOP nightmare scenario gets that much closer at that point. If the voting holds as it has thus far, with southern and evangelical voters opting for anyone but Romney, the current front-runner can’t cross the 1,144 threshold before New Jersey’s June 5th primary.
But there are two other pitfalls Romney will need to avoid if he wants to secure the nomination, even at that late date. First, he’ll need to ensure that those party conventions are stoked to vote for him (far from a sure thing at this point). Second, he needs to wrap up as many of the uncommitted delegates as possible. There are currently 93 of them; current projections indicate there may be as many 255 by the convention. That will be a powerful voting bloc, one as capable of tying up the 2012 Republican Convention as those of Earl Warren (yes, the man who later became Chief Justice of the Supreme Court) and Harold Stassen in 1948.
So, Romney still seems best positioned to become the Republican nominee. But party fratricide seems even more certain to deliver him as weak and badly wounded nominee. In 1948, the Republicans thought they could take on an unpopular incumbent presiding over a moribund economy and uncertainty on the world stage with an unpopular candidate and win. Will 2012 prove to be a repeat of that disastrous strategy?
ENOUGH!

How Politicians View You
We should be ashamed of ourselves.
15,000,000,000,000
56,650,000,000,000
22,000,000
187,000,000,000,000
4,700,000,000,000
20,000,000,000,000
Do you recognize those numbers? In order, they are the current federal debt, the current total US debt, the number of Americans who aren’t gainfully employed, the sum of unfunded federal liabilities, the current fiscal years’s proposed budget and the Obama administration’s estimated federal debt on January 20, 2016.
In addition, we have the gradual erosion of Constitutional rights, the looming specter of uncontrolled inflation (which is now running 8%), a quagmire in Afghanistan, a pending war with Iran, Europe back in recession, the potential for a “Russian Spring,” and border security still hasn’t been effectively solved.
These are real crises. Real problems that we should be focused on and demanding that the politcal leadership focus on. But if you dropped in from Mars, here’s what you would think were the problems facing the country:
How promiscuous are Georgetown law students?
Is there a Massive Government Conspiracy to assassinate bloggers?
Why are NFL players paid to hurt other players?
A washed up pop-star drowns in the bathtub after overdosing on painkillers!
I could continue, but you get the point (I hope). In ancient Rome, it was said Nero fiddled as the city burned. Today, we’re the fiddlers. Blame the politicians for the mess we’re in all you want, but I’m about to hit you with some cold, hard reality. We are the reason politicians are avoiding the real problems. Every time you lose your focus and begin worrying about some silly “culture war” diversion, the media applauds and a politicians from both parties smile. Why? The vast majority of politicians are not idiots. They know the real problems we face – and they know the only solutions are neither popular nor easy. But rather than debate them honestly, it is far easier for them to divert our attention with “issues” that really have no effect on how you or I conduct our daily lives. They prefer debates over things they all know governments have virtually no control over, and should have no control over, then coming to the American people and telling us the truth about things. It is much easier to build brand loyalty for a political party over culture issues (Republicans, please step to the right; Democrats to the left). It is nigh near impossible to do when facing the real problems we face.
But we still live in a representative republic. We, the people, still have the ultimate power. But we have to exercise it. That is the ultimate solution to our nation’s ills. But doing so involves two skill sets we’ve not demonstrated in years: perseverance and determination. We – me, you, everyone – needs to demand our political leaders face the real problems and work on solutions. And we need to let them know that if they don’t, another election is right around the corner and we’ll vote for someone who will.
Don’t let them distract you with another bogus news story about a trivial issue; another “he said, she said” item or another nonsensical quote from a would-be candidate. Keep your focus on what really matters. Or, go ahead and keep thinking that cultural issues are the defining item of our time.
Just don’t come crying to me when the country turns into another Greece.






“Increasingly, the Democratic Party feels the need to match the Republican right in stridency and hardball tactics. I am convinced that whenever we exaggerate or demonize, oversimplify or overstate our case, we lose.” – Barack Obama, The Audacity of Hope.



