Friday, October 10, 2008
Although I welcome this bit of news (higher prices!), both JN and I noticed the perverse order of things:1. People use less water.2. Prices rise.As I have mentioned before, this order of events is terribly annoying to people. The reason it occurs so often in water is because most water utilities are run on a break-even basis, i.e.: if they sell less water, they have to raise prices to generate the same revenue.
Stock futures pointed to a dismal open Friday as markets around the world got hammered and General Electric reported quarterly results that were in line with Wall Street estimates.
US markets took a beating Thursday, with the Dow industrials plunging nearly 700 points to a five-year low, as panicked investors dumped stocks.
Thursday, October 09, 2008
(Fishers, IN)- If either John McCain or Barack Obama came out tomorrow and said that he had a plan that would eliminate about half of the newspapers in this country, and furthermore tell you which ones you could read, would you get behind that plan, or would you fight it? Would you say that there was a free market for newspapers in such a scenario? Or freedom of the press?
The Cato Institute's Michael Cannon so describes the Obama health care plan:
"He would let the Federal government dictate the content and the price of every private insurance plan in the United States."and
"Imagine Barack Obama as President propose that he was going to have the government dictate the content of every news program in the United States, and eliminate half of the existing programs and newspapers that are out there. WouldSo says Tanner in the October 7, 2008 Cato Daily Podcast.
you call that a government-dominated system? You certainly wouldn't call it a free press. And that's largely what Barack Obama wants to do with health care."
There is no doubt in my mind that there is both wilfull ignorance and deceptive talk among the backers of 'health care for all'. They tend to bristle at the word 'socialism', or the phrase 'socialized health care'. Well, what else would it be, then?
Oh! I know! Another drain on our ailing economy.
Wednesday, October 08, 2008
Monday, October 06, 2008
One market that isn't collapsing is the one for political satire. SNL, The Daily Show, and The Colbert Report are great, but you're missing out if you don't check out The Onion from time to time.
Obama Promises To Stop America's Shitty Jobs From Going Overseas
So much for the transfer of wealth from earners to bad decision-makers ending up as some kind of immediate safeguard. It was supposed to make investors and markets here and around the world secure and stable, right? From an early AP report today:
Wall Street tumbled Monday, joining a selloff around the world, as fears grew
that the financial crisis will cascade through economies globally despite
bailout efforts by the U.S. and other governments. The credit market remained
under strain, and investors piled into government bonds. The Dow Jones
industrials skidded more than 200 points.
Would have been better just to let the bad actors fail. If you believe in the common good, you cannot accept that it was best to give bad actors a gigantic infusion of cash at the short-term and long-term expense of everybody. We are getting hit with tomorrow's taxes because of the bailout. We are getting hit with a weakened dollar because we will borrow to 'afford' the bailout. And our markets are not stabilizing. They are crashing. Way to go, geniuses.
Over the weekend, governments across Europe rushed to prop up failing banks. The German government and financial industry agreed on a $68 billion bailout for commercial-property lender Hypo Real Estate Holding AG, while France's BNP Paribas agreed to acquire a 75 percent stake in Fortis's Belgium bank after a government rescue failed.
Punish those who voted for the bailout. Vote against McBama. Vote against Andre Carson.
Sunday, October 05, 2008
Sometimes sportswriters try to get cute and prove they have some depth, so they trot out a story that reaches into politics or everyday life. Bob Ley and "Outside The Lines" are notable exceptions, in that they can pull it off. They have the depth, because they are in touch with people.
Bob Kravits showed that he is out of touch, and out of his depth, when he posed this question in Sunday's Indy Star column:
When Michael Vick was led toward a federal courthouse, weighted down by handcuffs, leg shackles and several charges involving the depraved sport of dogfighting, protesters and unaffiliated citizens stood on the sidewalk and hurled invective at the doomed NFL quarterback.
When Helio Castroneves was led toward a federal courthouse Friday in Miami, also weighted down by handcuffs, leg shackles and felony charges of tax evasion, curious onlookers and IndyCar fans around the country prayed that the charges were false, and that Castroneves would eventually be found guilty of nothing more than ignorance.
So where's the righteous rage this time?
Real simple, Bob-O. America found what Vick did to dogs heinous and loathsome. America similarly finds paying taxes heinous and loathsome. I know that even if Castroneves is guilty of tax evasion, I'm rooting for him, because I believe it's his money. I have no soft spot for a guy like Vick who bred dogs to fight and electrocuted dogs that didn't do it well enough.
Kravits tried to make it racial. Load of Crapola. Must not have been paying attention the last five or so years to Lou Dobbs, Sean Hannity, or any of the other modern Know Nothings, who have demonized anyone with darker skin and a Hispanic sounding name.
It's rare that circumstances make it such that Americans take an interest in monetary policy and the Federal Reserve. Usually, such talk is the kind of thing that gets 'tinfoil hat' comments. However, we are living under such circumstances, and people are beginning to see that printing money without backing by assets is dangerous business, and is the business of our Treasury.
Here's a link to a debate about the Fed that is already underway. A shame place for comments wasn't made available. I am at your service.
I find it instructive to look back on the Federal Government's recent actions against NorFed and the Liberty Dollar. Mainly, it shows a deep commitment to valueless paper money and to inflationary policy.