RUTHFULLY YOURS

https://freebeacon.com/columns/sbf-virtue-signaling-scammer/

The former head of crypto exchange FTX, Sam Bankman-Fried, aka SBF, stands accused of many crimes. But no one has ever charged him with reticence.

Between 2019, when he first appeared on the scene, and December 12, 2022, when Bahamian police took him into custody—conveniently preventing him from testifying before Congress the next day—the 30-year-old MIT graduate and former billionaire would not shut up.

No audience was too small. No subject was beyond the pale. Given the opportunity, SBF would announce his veganism, discuss his fashionably liberal politics, and outline the tenets of his utilitarian worldview, his philosophy of “effective altruism.” His remarkable and short-lived career is a case study in high ideals serving as cover for low motives. It also illustrates the double-standard that liberals apply to business scandals.

Words poured from SBF’s disheveled self, faster than you can mint a bitcoin. Last year his net worth soared, reaching an estimated $20 billion. He ascended to the top rank of political donors, giving millions to Joe Biden in 2020 and contributing more money to Democratic candidates in 2022 than everyone but George Soros. Friendly media profiled “The Mysterious Cryptocurrency Magnate Who Became One of Biden’s Biggest Donors” and “A Crypto Emperor’s Vision: No Pants, His Rules.” “I have a lot of things to say,” he told New York magazine.

That’s for sure. SBF admitted to obsessive compulsion, to attention deficit disorder, to depression, and to playing Magic: The Gathering well into adulthood. He would jabber away on social media, during video game sessions, at investor conferences, and on television and podcasts. Rumors swirled about his love life, which may or may not have involved something called a “polycule.”

https://www.foxnews.com/opinion/elon-musk-remain-twitter-ceo-keep-free-speech-fight

Elon Musk is a hero of our times. Risking his personal safety and fortune, he bought Twitter and pushed back against the Left’s repugnant effort to shut down Americans’ freedom of expression. In addition, he has exposed the dangerous collusion between our social media giants and the FBI, which appears to have subverted our elections.

Now Musk is threatening to call it quits. This must not happen.

In an online poll, Musk asked the Twitterverse whether he should “step down” as head of Twitter, and promised to abide by the outcome. He tweeted soon after the launch of the referendum: “As the saying goes, be careful what you wish, as you might get it.”

The bad news for Musk fans is that 57% of the 17 million people who participated said he should indeed quit his post; 43% said he should not. 

Will the quixotic entrepreneur follow through, and abandon his $44 billion undertaking? Will he allow the Leftist thought police to resume their control of what Americans can see and read? 

We can only hope he changes course, or somehow accedes to the letter of his self-imposed plebiscite without actually abandoning the fight. Nothing could be more important.

https://www.wsj.com/articles/the-jan-6-inquirys-not-so-grand-finale-donald-trump-criminal-referral-justice-department-11671488663?mod=hp_opin_pos_1

The House Jan. 6 committee decided Monday that the best way to cap its 18 months of work would be a political gesture. It thus referred President Trump to the Justice Department for potential criminal prosecution for his efforts to reverse the 2020 election, which culminated in the Capitol riot.

What is this supposed to accomplish? A Congressional referral to the Justice Department has all the legal force of an interoffice memo. Attorney General Merrick Garland has appointed special counsel Jack Smith to investigate Mr. Trump’s schemes to stay in office. The Jan. 6 committee’s loud public intervention makes his job more complicated, given the clear partisan context.

The House Jan. 6 inquiry has done useful work gathering documents and putting witnesses under oath. The wiser course was to let the established facts speak for themselves, while releasing full transcripts of its interviews to provide a complete public record.

***

The questions for Mr. Smith are whether Mr. Trump’s reckless conduct was criminal and whether indicting him is prudent and good for the country. The House referral cites laws against insurrection, obstruction of an official proceeding, conspiracy to defraud the United States, and conspiracy to make a false statement to the government. But getting a conviction requires a unanimous jury, and the House theories of the case have serious problems based on the current public evidence.

https://amgreatness.com/2022/12/18/10-steps-to-save-america/

Most Americans know something has gone terribly wrong—and very abruptly—with the United States. They are certain that our wounds are almost all self-inflicted. The current pathologies are not a result of a natural disaster, an exhaustion of natural resources, plagues, or an existential war. 

Crushing national debt and annual deficits, spiraling food and fuel costs amid “normal” seven-percent-plus annual inflation, bread-and-circuses entitlements, a nonexistent border, a resurgence of racial tribalism, pandemic violent criminality, and humiliation abroad—all these pathologies are easily cited as symptoms of a sick patient. Our crises are not as the Left maintains—a nine-person Supreme Court, the Electoral College, or the filibuster—all distractions from existential problems the Left largely created. 

So, what are the therapies and prognoses for America?

In the spirit of constructive rather than blanket criticism, here is a partial, 10-point plan of national recovery.

Cut the Debt 

Americans’ national debt is now $31 trillion. That is about 123 percent of current GDP. The liabilities are unsustainable. We run annual deficits of $1.6 trillion. These financial obligations will eventually ensure that rising interest rates to service the debt crowd out essential spending for national defense and the general welfare. 

Or in extremis, in the not too distant future, the government will be forced to default on what it owes the “rich” bondholders and foreign debt holders. Or the government will be forced to confiscate private wealth, as for example occasional crazy suggestions to nationalize and absorb 401(k)k retirement plans into the soon-to-be-insolvent Social Security system. Or the state will simply print millions of dollars to pay off obligations, Weimar-style.

In addict style, the more we come to realize that our binging habit cannot go on, the less we can practice self-restraint. And the more it is the case that those who receive government redistributions outnumber those who pay the majority of federal income taxes, the less hope there remains to avoid insolvency.

In 2010 then-President Barack Obama appointed a bipartisan “National Commission on Fiscal Responsibility and Reform.” More commonly  remembered as the Simpson-Bowles commission, after chairmen Senators Alan Simpson (R-Wyo.) and Erskine Bowles (D-N.C.), it included private citizens and elected officials. 

The commission recommended radical tax simplifications and some cuts—along with reductions in tax deductions and credits, an increase in the gas tax, restraints on entitlement spending, and various spending caps. 

Obama and Congress ultimately rejected the recommendations and the commission’s blueprint died. But had it succeeded, the current debt would have long been frozen at the 2014 level of $17 trillion—with annual reductions ensuring that this coming year 2023 the debt would have plunged to $10 trillion and then disappeared in another decade. 

Something like Simpson-Bowles could still stop the madness and avoid the natural corrective on the horizon of financial collapse. Note that federal tax revenue has increased almost every year since 2010. Sometimes it grows by nearly a half-trillion dollars per annum, even as we sink deeper in debt. Our crisis, then, is one of spending what we do not have rather than one of declining revenue.