Unfortunately, central banking and deficit spending have made our government to some extent hostage to a handful of private investment banks that trade in government debt. The “liquidity crisis” is also a crisis of the government’s ability to deficit spend. Conservatives should not necessarily renounce some repudiation of that debt, if such a repudiation punished the enablers of mass government spending. Bad credit for the government would be a good thing for the public, making expensive endeavors like the Iraq War, farm subsidies, and prescription drug benefits a thing of the past. Regulation should aim above all at stability, transparency, and buffering of the economy as a whole from the actions of a small circle of risk-preferring speculators.
Polistra was named after the original townsite of Manhattan (the one in Kansas). When I was growing up in Manhattan, I spent a lot of time exploring by foot, bike, and car. I discovered the ruins of an old mill along Wildcat Creek, and decided (inaccurately) that it was the remains of the original site of Polistra. Accurate or not, I've always liked the name, with its echoes of Poland (an under-appreciated friend of freedom) and stars. ==== The title icon is explained here. ==== Switchover: This 2007 entry marks a sharp change in worldview from neocon to pure populist. ===== The long illustrated story of Polistra's Dream is a time-travel fable, attempting to answer the dangerous revision of New Deal history propagated by Amity Shlaes. The Dream has 8 episodes, linked in a chain from the first. This entry explains the Shlaes connection.