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And amidst all this what are the libertarians worried about? Well, when they aren't hung up on their minimum wage fetish, they are yada-ing on again about socialized healthcare. None of them seem to have spit to say about the 540 billion dollar Bush boondoggle that has already started to inflate dug prices as Mr. Thornton said they would. No, they aren't real libertarians but instead just knee-jerk defenders of the current socialist President.I beg your pardon? Libertarians certainly do argue against "their minimum wage fetish," whatever that might mean (you think the minimum wage is okay?), and against socialized healthcare, single payer, National Health, Hillarycare, call it what you will.You've completely lost me about libertarians allegedly not having spit to say about the Bush bookdoggle (there are some many of them, which one are you referring to?). No, the libertarians are content to remain utterly irrelevant with their grand theorizing about the evils of someone else's socialized medicine or socialized medicine in principle. The shame of the libertarians. So what is happening in the land of socialized medicine, Canada?Canadians, meanwhile, with their Liberal government are enjoying balanced budgets and trade surpluses etc.I am no defender of Shrubster's deficits, but let's get real:it's barely 5% of GDP, and in a $40 trillion international capital market, I don't see financing it to be a big problem.The real problem is government spending, not the deficit. And the Canadian government is at least as maladroit at spending as Generalissimo Shrubster-Cheney. The trade deficit/surplus is the economic bogeyman of the day.A current account deficit/surplus must always be offset by a capitalaccount surplus/deficit. If country X (say the U.S.) runs a current account deficit, it must have a capital account surplus, which means that foreigners find it a good place to invest their capital. A long as country X's currency is allowed to float (instead of being fixed), it will achieve external balance against the rest of the world. Canada's markets are doing relatively well because of the worldwide commodity boom, which benefits a natural resource-based economy such as Canada's. But Canada's current account trade surplus doesn't *by itself* indicate that Canada's economy is stronger that the U.S. Ontario advertises universal, government healthcare as a competitive advantage, in the US, for obvious reasons. If the corporations don't have to worry about it so much it's a load off their back.Do you actually believe that there is such a thing as an economic free lunch? Who pays for Canada's wonderful healthcare system and who would pay for the healthcare benefits of all those workers to be employed in Canada instead of south of the border--the tooth fairy?If government healthcare is a "competitive advantage," I'll take socialist healthcare any day, as long as I'm allowed to read Orwell in the waiting room. But the libertarians yada on, decades behind. So far behind they think they are in front.Murray Rothbard used to quip that his bedrock libertarian principles never deviated one iota, but as politicians shifted their views on all manner of subjects in the face of economic reality, sooner of later he'd be proved right on each, one by one. ValueSnark
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