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The Federal Reserve meets Lord of the Flies.

Lord Geithner gets grilled over Obama's new financial regulatory power grab.

"In testimony to the Senate Banking Committee, Mr. Geithner said that gaps and weaknesses in the regulatory framework governing banks and other financial institutions "presented challenges" to the government's ability to monitor and address risky market bets. One problem, he said, is that no single regulator saw its job as protecting the economy and financial system as a whole."

Don't you like how it's just assumed that government is responsible for protecting our economy? Spoken like a power-hungry, elitist central planner. I don't need Lord Geithner to oversee my voluntary exchanges, and neither does anybody else. All this will do is create more problems like the current financial crisis government created. And then we get the standard refrain:

""Every financial crisis of the last generation has sparked some effort at reform. But past efforts have begun too late, after the will to act has subsided," he said in prepared remarks."

Yeah. No matter how onerous the regulations, it's never enough. Everything would have been hunky dory if we had just given government even more power to begin with.

You may never read a quote describing the futility of our education system that's better than this:

"The public education system, which is a disastrous, wealth-destroying, failed endeavor, is held up as the standard by which we must all live. You go where they tell you to go, stay at the educational level they put you at, advance when they tell you to advance, slog through what they put in front of you, believe what they tell you to believe, and finish your "education" at a chronological age that somebody somewhere determined should be the age when you should be set free to live out your life. Your innate ability, your desire, your interests, your foundational knowledge - none of that matters because public education is set up to equalize and collectivize children so that they are all on the same pre-determined schedule. Still, people are surprised each time they hear about a 15-year-old attending college or an 18-year-old graduating from college. They were taught that children should all advance together through the education system based on chronological age and do exactly what every other kid their age is doing. The masses never question the irrationality of such nonsense. And you wonder why the American educational system is producing mostly professional consumers, couch potatoes, and TV-watching, amusement-demanding, non-reading robots."

Awesome.

Retailers are closing shop in Detroit. The destruction is amazing.

It's pretty obvious that weaker copyright is better for society. Copyright limits what artists can do. It's better to have fewer limits.