Smart Links 14 August 2011

Articles on the consequences having consequences, being a pain in the ass dissenter in China, conspiracy theories rise as the 10th anniversary dawns, the end game nears, and travel notes

A crime is a crime. Thanks to David of London (ed’s note: the one without the riots).

Spectator -- We have failed the black youth of Britain through fear of being labelled racist
So appalled and incensed am I at the killing of gentle, loving family man Mark Duggan last Thursday that I feel only the immediate illegal acquisition of an expensive consumer durable, preferably a top end watch, will assuage my righteous wrath and lessen my grief.

Wei Wei.

Economist -- In and Out of Jail
AI WEIWEI, a prominent Chinese artist and critic of the government, has begun to probe the limits of the strict conditions that were set by the authorities upon his release from custody seven weeks ago.

What did the CIA know? Thanks to Ken of Tokyo/Hong Kong.

Daily Beast -- An Explosive New 9/11 Charge
In a new documentary, former national-security aide Richard Clarke suggests the CIA tried to recruit 9/11 hijackers—then covered it up.

John Mauldin on disintegrating Europe and collapsing American confidence, the beginning of the end. Hanks to David of Victoria.

John Mauldin – The Beginning of the End Game
I think it relevant to start off by quoting from my book Endgame, where I quote in turn from what I think is the most important book of the last decade, This Time is Different: Eight Centuries of Financial Folly, by Ken Rogoff and Carmen Reinhart.

Travel notes – Golf day

Played Rand Park Golf Course today. Very interesting course, with some diabolical par threes.

I joined a threesome, that included the 5-year old grandson of the couple who were members. The kid had a great swing hitting his driver about 80 yards and his rescue about 60.

On a couple of holes I was worried he might get to green before me.

One of the interesting things about our visit is the tremendously interesting bird calls we hear all day long.

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Twin Virtues: Inequality of Outcomes & Equality of Opportunity©

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Ultimately, the most successful societies find the balance between the twin virtues of inequality of outcomes and equality of opportunity.

Tax policy should be founded on the principle of generating steady tax revenues sufficient to maximise sustainable economic growth and fund best in class instruments of social justice.

Public policy should never be designed to decrease inequality but should always be designed to increase equality.

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Welfare strategies are best designed as a hand up not as a hand out.

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