Voices of Reason

"It is a kingdom of conscience, or nothing."
--Balian of Ibelin (Kingdom of Heaven)

In 2004-2005, audits of Fannie Mae and Freddie Mac suggested that the GSEs were carrying too much risk and vulnerable if housing prices softened.  Proponents of the GSEs, primarily Democrats, thew up their arms in anger and claimed that these insitutions were in fine shape. We know what subsequently happened.

About a year ago, presidential candidate Rick Perry claimed that Social Security was a Ponzi scheme. Proponents of Social Security threw up their arms in anger, saying that SS was nothing of the sort. Yet even a cursory look at SS accounting finds nothing but IOUs for future beneficiaries.  

A few months back Ron Paul was called onto the carpet at CNN for questioning some of the historical 'facts' surrounding Abraham Lincoln's presidency. Interviewers mocked Paul's answers, although there is ample evidence to back the Congressman's claims.  

Last May Mitt Romney told supporters that it did not make sense for him to focus scarce campaign resources on people who see themselves as dependent on government assistance, as arguments for shrinking government would not be received well by this group. When a video of that conversation hit the media a couple weeks back, Obama partisans went wild. Yet reason and empirical evidence suggests that playing the dependence/victim card is worth many votes.  

Last week former General Electric (GE) CEO Jack Welch claimed that the BLS jobs numbers were manipulated. Howls went up from government and those supporting the president. Yet there is reason to believe that last week's number was open to slant--as is nearly all government econometric series.  

The pattern is obvious. Speak out against an institution or institutional beliefs, and you will be sanctioned by those who support, or are supported by, the institution. It is the potential of such sanctions that institutionlists hope will keep dissenters silent.  

But reasoned people understand that societies often live institutional charades, where people rationalize the ugliest of practices. Such practices cannot persist, however, as they conflict with natural law. Over time, they will be brought down as social systems seek better balance.

Therefore, voices of reason must not be fearful. Stay the course, as truth will overcome the rhetoric of delusion.