You can buy securities for $100!

Something more new for when I have to teach Monetary Policy.

The U.S. government lowered the minimum amount for buying Treasury securities to $100 from $1,000 in a plan to broaden the market to more individuals.

Treasury bills, notes, bonds and inflation-protected securities will be available to purchase in $100 increments beginning next month, the Treasury Department said yesterday in a statement.

“The new, lower minimum Treasury amount will put marketable securities within reach of more savers and investors in the United States and around the world,” Anthony Ryan, the assistant Treasury secretary for financial markets, said in the statement.

This is probably way too little, too late, but at least it is. One of the big, big differencees between Reagan’s debt and that of this government is that Reagan at least borrowed money from American households – meaning that, yes, American household wealth appreciated as budget deficits expanded.

Now? People eat their seed corn, tapping into home equity for cars and flat-screen TVs. No more govenrment savings, no more household savings. It will be interesting to see what sort of capacity ordinary households have to take advantage of this.

Bush not coexisting peacefully with fish after all

That would be one of the earlier foolish things he said (as President, anyway: “I know the human being and fish can coexist peacefully“). Who knew he could be insincere about the environment? That’s right – we did!

From the same paper that brought us the details of Cheney’s miserable hate-on for all things living, comes yet more critique of Bush directly:

With little-noticed procedural and policy moves over several years, Bush administration officials have made it substantially more difficult to designate domestic animals and plants for protection under the Endangered Species Act.

Presidents George H.W. Bush and Bill Clinton added an average of 58 and 62 species to the list each year, respectively.

One consequence is that the current administration has the most emergency listings, which are issued when a species is on the very brink of extinction.

That graph is a little skewed – there is no reason why the listings under Clinton are optimal, for example – but it paints a pretty stark picture about the priorities of this President.

Does anything so perfectly characterise this administration than not doing their job until the last possibly moment, wherein a shit job has to be done very quickly and, usually, ineffectively? I wonder where in the editorial machine of the Washington Post this environmentalist streak lies, too.

The article is a good read. The procedural, anti-scientific barriers to, well, science; the lawsuits, the open criticism of a department run by sycophantic political placements. Everything we’ve come to expect over the last 8 years, basically.

These are the reasons why arguments that Government should not be given charge of more things are so wildly off the mark – this administration is not evidence of the fallability of (big G) Government – it’s merely an embarrassment for the American voter, and a damn good reason to pay more attention to whom we elect.

By all means, wander about with asinine debates over 3am phone calls, but why not run with that idea across the board? How soon with the EPA be restored under each candidate? How soon will the judicial system be re-centred? Which candidate will actually install a government, rather than a set of politcal excuse-making and maneuvering?

Sadly, there is an Economics of all of this. Do Bush or Cheney actually believe that a lizard is a lizard is a lizard? That the exctinction of a weird type of condor is irrelevant if there are still pigeons in every city? To some extent, yeah. All Bush does is clear brush on a fake farm. Cheney hunts birds raised in cages that can barely fly. This isn’t the Sierra Club.

The reasons why this administration seems not to care about the environment are the same as applied to the energy sector; to roads; to schools. It isn’t the environment, the clean water, the good schools: they’re your environment; your clean water; your New Orleans.

The US is ruled by an aristocracy (and this includes many Democrats) whether the people admit to it or not. We are “governed” by a class of people who can purchase their own environment, their own water, their own roads and schools. They simply do not ever have to conceive of needing the things that we consider to be public goods, because they are not the public: they are the private.

It is just another form of tribalism, really. Why would most Americans really not care all that much about improving the roads in Dhaka, for example? Because we’ll never have to use them, and we’re not Bangladeshi. They’re just not our people, not our concern. Sadly, this attitude is not far beneath the surface of most of the politicians here in the last 10 years or so. Hence my argument that the best candidate is the one least interested in politics and most interested in government: Government benefits everyone; Politics is a zero-sum game.