Monday, March 23, 2009

When

What's going on? Let Alex Knapp and Andrew Sullivan encourage others to sneer at the "Going Galt" phenomenon, but the simple facts are (a) we entered 2009 facing a severe capital shortage, (b) the Obama administration's moves seem calculated to scare capital to death, and (c) without capital, capitalism doesn't work. (Of course, without capital, socialism doesn't work either, but I don't have time to explain that right now.)
"The fundamentals suck," Michelle Malkin said last September, and no rational person with a minimal understanding of basic economics could disagree that the sucking has only become louder since then. We are looking at an ill-designed house of cards on top of a Ponzi scheme erected over the San Andreas Fault. The question is not whether disaster will result, but when.
What would the tax penalty be if you zeroed out your 401K? Less than 30%?
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