Posts
ObamaCare Is Not Pro-Choice -- for Anyone | Michael F. Cannon | Cato Institute: Commentary: "Whatever your views on abortion, the fight over abortion in the Obama health plan illustrates perfectly why government should stay out of health care.
When the government subsidizes health care, anything you do with that money becomes the voters' business. And rather than allow for choice between different ways of doing things, the government typically imposes the preferences of the majority — or sometimes, a vocal minority — on everybody."
"The bill's subsidies would be so pervasive that prohibiting the use of taxpayer dollars for abortion coverage would restrict access to such coverage even for women who don't use the subsidies."
That shows how little freedom you will have to do anything outside of the government system!
Monday, November 30, 2009
A Real Team of Rivals | Malou Innocent | Cato Institute: Commentary
A Real Team of Rivals | Malou Innocent | Cato Institute: Commentary: "'If we don't have a government we can point to that has some basis of legitimacy in the country, the best generals, the best strategy isn't going to help turn it around.'
Now in its ninth year in Afghanistan, the United States finds itself in the unenviable position of assisting and sponsoring a corrupt, illegitimate, and slightly autocratic regime, which itself is contributing to the collapse of public confidence and to the resurgence of the Taliban insurgency."
Now in its ninth year in Afghanistan, the United States finds itself in the unenviable position of assisting and sponsoring a corrupt, illegitimate, and slightly autocratic regime, which itself is contributing to the collapse of public confidence and to the resurgence of the Taliban insurgency."
Underpinning U.S. strategy in Afghanistan is the belief that remaining will keep America safe, despite evidence to the contrary. For example, a 2004 Pentagon Task Force that reviewed the Bush administration's anti-terrorism efforts found that the underlying sources of threats to American interests were America's direct intervention in the Muslim world. This was the same task force that reported: "Muslims do not 'hate our freedom,' but rather, they hate our policies."
Campaign For Liberty — Questions Regarding The Fort Hood Massacre ��| by Chuck Baldwin
Campaign For Liberty — Questions Regarding The Fort Hood Massacre ��| by Chuck Baldwin: "So, how is it that these intensely trained, disciplined, rugged, highly qualified warriors are not allowed to carry their own weapons on base? This makes about as much sense as the policy forbidding airline pilots from carrying their own handguns on board commercial airliners, or teachers not being allowed to carry their own handguns in the classroom. After all, judges are granted the authority to carry their own firearms into the courtroom. If we can trust lawyers, we should be able to trust soldiers, airline pilots, and teachers."
"If the federal government--including the Department of Homeland Security, the Department of Defense, etc., with billions of dollars worth of technology; tens of thousands of snoops, spooks, and intelligence gatherers; and myriad Patriot Act-type laws--could not protect US soldiers on one of the most tightly secured and heavily guarded military installations in America, how can anyone in the country possibly not break out in cacophonous laughter when politicians tell us we need to surrender more liberties so that they might pass more laws to protect us crummy little peons?"
"Are we now really supposed to believe that all these Patriot Act-type laws, which allow the federal government to trash the Constitution and Bill of Rights--and poke its ubiquitous and meddlesome nose into every corner and crevice of our lives--are actually doing anything to make us safer? You've got to be kidding! The only thing they are doing is stealing our liberties. If the Fort Hood massacre proves anything, it proves that."
"Furthermore, this was an all-or-nothing, kill-or-be-killed environment: something these men are trained for. If untrained civilian passengers on flight 93 on 9/11 could rush and thwart armed attackers on board a commercial airliner from a narrow aisle way and stop a hijacking--a task infinitely more difficult than for a group of highly trained professional soldiers outnumbering an attacker by scores or hundreds in a large building--tell me again how Hasan was able to open fire with only two handguns, kill and wound scores of people, and calmly walk out of the building unscathed? Again, this makes no sense. "
"If the federal government--including the Department of Homeland Security, the Department of Defense, etc., with billions of dollars worth of technology; tens of thousands of snoops, spooks, and intelligence gatherers; and myriad Patriot Act-type laws--could not protect US soldiers on one of the most tightly secured and heavily guarded military installations in America, how can anyone in the country possibly not break out in cacophonous laughter when politicians tell us we need to surrender more liberties so that they might pass more laws to protect us crummy little peons?"
"Are we now really supposed to believe that all these Patriot Act-type laws, which allow the federal government to trash the Constitution and Bill of Rights--and poke its ubiquitous and meddlesome nose into every corner and crevice of our lives--are actually doing anything to make us safer? You've got to be kidding! The only thing they are doing is stealing our liberties. If the Fort Hood massacre proves anything, it proves that."
"Furthermore, this was an all-or-nothing, kill-or-be-killed environment: something these men are trained for. If untrained civilian passengers on flight 93 on 9/11 could rush and thwart armed attackers on board a commercial airliner from a narrow aisle way and stop a hijacking--a task infinitely more difficult than for a group of highly trained professional soldiers outnumbering an attacker by scores or hundreds in a large building--tell me again how Hasan was able to open fire with only two handguns, kill and wound scores of people, and calmly walk out of the building unscathed? Again, this makes no sense. "
Campaign For Liberty — Our Financial Dependence on China ��| by Peter Schiff
Campaign For Liberty — Our Financial Dependence on China ��| by Peter Schiff: "While the peg certainly is responsible for much of the world's problems, its abandonment would cause severe hardship in the United States. In fact, for the U.S., de-pegging would cause the economic equivalent of cardiac arrest. Our economy is currently on life support provided by an endless flow of debt financing from China. These purchases are the means by which China maintains the relative value of its currency against the dollar. As the dollar comes under even more downward pressure, China's purchases must increase to keep the renminbi from rising. By maintaining the peg, China enables our politicians and citizens to continue spending more than they have and avoiding the hard choices necessary to restore our long-term economic health.
Contrary to the conventional wisdom, when China drops the peg, the immediate benefits will flow to the Chinese, not to Americans. Yes, prices for Chinese goods will rise in the United States �€' but so will prices for domestic goods. As a corollary, the Chinese will see falling prices across the board. As anyone who has ever been shopping can explain, low prices are a good thing.
In addition, credit will expand in China while it contracts here. When China abandons the peg, it will no longer need to swell its currency reserves by buying Treasuries or other dollar-denominated debt instruments. Other nations will no longer feel the pressure to keep their currencies from rising, so they too could throttle down on their onerous dollar purchases.
As demand falls for both dollars and Treasuries, prices and interest rates in the United States will rise. Rising rates will restrict the flow of credit that is currently financing government and consumer spending. This change will finally force a long overdue decline in borrowing. So, not only will Americans lose access to the consumer credit that funds their current spending, but the things they buy will also get more expensive.
Our short-term loss will be in sharp contrast to the gain felt by foreigners, who will be rewarded with falling consumer prices and a more abundant supply of investment capital. In other words, the American standard of living will fall while that of our trading partners will rise. "
Contrary to the conventional wisdom, when China drops the peg, the immediate benefits will flow to the Chinese, not to Americans. Yes, prices for Chinese goods will rise in the United States �€' but so will prices for domestic goods. As a corollary, the Chinese will see falling prices across the board. As anyone who has ever been shopping can explain, low prices are a good thing.
In addition, credit will expand in China while it contracts here. When China abandons the peg, it will no longer need to swell its currency reserves by buying Treasuries or other dollar-denominated debt instruments. Other nations will no longer feel the pressure to keep their currencies from rising, so they too could throttle down on their onerous dollar purchases.
As demand falls for both dollars and Treasuries, prices and interest rates in the United States will rise. Rising rates will restrict the flow of credit that is currently financing government and consumer spending. This change will finally force a long overdue decline in borrowing. So, not only will Americans lose access to the consumer credit that funds their current spending, but the things they buy will also get more expensive.
Our short-term loss will be in sharp contrast to the gain felt by foreigners, who will be rewarded with falling consumer prices and a more abundant supply of investment capital. In other words, the American standard of living will fall while that of our trading partners will rise. "
Campaign For Liberty — A Gun-Free Zone at Ft. Hood ��| by Jacob Hornberger
Campaign For Liberty — A Gun-Free Zone at Ft. Hood ��| by Jacob Hornberger: "There are strict gun-control laws on military bases, including a prohibition against concealed-carry, even if the state in which the base is located permits concealed-carry.
Thus, at Ft. Hood, the shooter knew that the likelihood of anyone being able to defend himself from the coming onslaught was virtually nil. He knew that since this was a federal gun-free zone, he would be able to shoot his gun and kill his victims until he ran out of ammunition or until the local police arrived and gunned him down.
Why do shooters select gun-free zones to commit their massacres rather than, say, gun shows? No doubt that question continues to befuddle the gun-control crowd."
Thus, at Ft. Hood, the shooter knew that the likelihood of anyone being able to defend himself from the coming onslaught was virtually nil. He knew that since this was a federal gun-free zone, he would be able to shoot his gun and kill his victims until he ran out of ammunition or until the local police arrived and gunned him down.
Why do shooters select gun-free zones to commit their massacres rather than, say, gun shows? No doubt that question continues to befuddle the gun-control crowd."
Former NIH Chief: Ignore Government's Mammography Recommendations - FOXNews.com
Former NIH Chief: Ignore Government's Mammography Recommendations - FOXNews.com: "The first female to head the National Institutes of Health said Sunday she is advising women to ignore new recommendations by the U.S. Preventive Services Task Force, which last week changed guidelines for mammographies from annually starting at age 40 to every other year starting at age 50."
What happens when government regulation prevents you from ignoring those new recommendations?
What happens when government regulation prevents you from ignoring those new recommendations?
Gov't Wastes $98B in Taxpayer Dollars in 2009 - FOXNews.com
Gov't Wastes $98B in Taxpayer Dollars in 2009 - FOXNews.com: "In all, about 5 percent of spending in federal programs in fiscal year 2009 was improper, according to new details of a government financial report that were released Tuesday. Saying the overall error rate was similar in 2008, officials attributed the $26 billion jump to some changes in how to define improper spending as well as an increase in overall spending due to the recession."
Lawmakers Slam Administration for Faulty Job Data on Government Web Site - FOXNews.com
Lawmakers Slam Administration for Faulty Job Data on Government Web Site - FOXNews.com: "One recipient of stimulus funds, Talladega County of Alabama, claimed that it had saved or created 5,000 jobs from only $42,000 in government money -- which would amount to $8.40 in annual income per job if each position received an equal amount of funding.
New Mexico Watchdog, a project of the Franklin Center for Government & Public Integrity, said in all, nearly $6.4 billion was used to 'create or save' nearly 30,000 jobs in 440 non-existing districts, including in New Mexico's 4th, 22nd, 35th and 40th Districts. New Mexico has three Congressional Districts.�"
New Mexico Watchdog, a project of the Franklin Center for Government & Public Integrity, said in all, nearly $6.4 billion was used to 'create or save' nearly 30,000 jobs in 440 non-existing districts, including in New Mexico's 4th, 22nd, 35th and 40th Districts. New Mexico has three Congressional Districts.�"
USDA: Number of Americans Going Hungry Increases - Local News | News Articles | National News | US News - FOXNews.com
USDA: Number of Americans Going Hungry Increases - Local News | News Articles | National News | US News - FOXNews.com: "More than one in seven American households struggled to put enough food on the table in 2008, the highest rate since the Agriculture Department began tracking food security levels in 1995."
"The USDA said Monday that 5.7 percent of those who struggled for food experienced "very low food security," meaning household members reduced their food intake."
So only 0.83% of Americans actually went hungry. Exaggerating doesn't help.
"The USDA said Monday that 5.7 percent of those who struggled for food experienced "very low food security," meaning household members reduced their food intake."
So only 0.83% of Americans actually went hungry. Exaggerating doesn't help.
Monday, November 23, 2009
Brain scan finds man was not in a coma--23 years later | Health Tech - CNET News
Brain scan finds man was not in a coma--23 years later | Health Tech - CNET News: "In his paper, Laureys writes that in about 40 percent of 'vegetative state' cases he has analyzed, current brain scanning techniques reveal signs of varying levels of consciousness. A case is being made, it seems, to stop relying on the Glasgow Coma Scale and start looking more closely at brain scanning images."
How many of those, who seem to be in a coma but aren't, have their feeding tubes removed and are killed (and know they are being killed)?
How many of those, who seem to be in a coma but aren't, have their feeding tubes removed and are killed (and know they are being killed)?
Wednesday, November 18, 2009
Krugman's Magic Solution to Budgetary Woes - Robert P. Murphy - Mises Institute
Krugman's Magic Solution to Budgetary Woes - Robert P. Murphy - Mises Institute: "The real problem with my household finances wasn't that we were underearning or overspending. No, the real problem was that our superstitious bank decided to peg its unit of account rigidly to the dollar at 1:1."
"I have since forwarded a copy of Krugman's blog post to the managers of my local bank. I informed them — in case the boobs didn't already know — that Dr. Krugman not only teaches at Princeton, but is a Nobel (Memorial) laureate, for goodness' sake. Taking his advice, I henceforth want to devalue my checking account, so that when I write a check for 500 units, the bank only transfers $250 to the person whose goods I am purchasing."
"This step solves so many problems; I can't believe I didn't think of it earlier. Immediately, my household's budget crisis is solved, for I now have double the effective reserves as I previously did. Making my mortgage payment is no longer a struggle!"
"I have since forwarded a copy of Krugman's blog post to the managers of my local bank. I informed them — in case the boobs didn't already know — that Dr. Krugman not only teaches at Princeton, but is a Nobel (Memorial) laureate, for goodness' sake. Taking his advice, I henceforth want to devalue my checking account, so that when I write a check for 500 units, the bank only transfers $250 to the person whose goods I am purchasing."
"This step solves so many problems; I can't believe I didn't think of it earlier. Immediately, my household's budget crisis is solved, for I now have double the effective reserves as I previously did. Making my mortgage payment is no longer a struggle!"
Monday, November 16, 2009
White House Criticizes Plan to Strip Fed's Powers - FOXNews.com
White House Criticizes Plan to Strip Fed's Powers - FOXNews.com: "moves to merge oversight into a single agency could cause industry 'nervousness.'"
Nervousness?!?
Nervousness?!?
Friday, November 13, 2009
GOP Chairman Ends Abortion Insurance for Employees - FOXNews.com
GOP Chairman Ends Abortion Insurance for Employees - FOXNews.com: "Steele instructed staff to inform the insurance carrier that the RNC wanted to opt out of elective abortion coverage, RNC spokeswoman Gail Gitcho said. She said the policy has been in effect since 1991."
Thursday, November 12, 2009
Universities reject Kindle over inaccessibility for the blind | The Digital Home - CNET News
Universities reject Kindle over inaccessibility for the blind | The Digital Home - CNET News: "Pamela McLaughlin, director of communications and external relations at Syracuse University, said in a statement that her school bought two Kindle DX units to see if it could replace hardcover textbooks and course materials."
Do they only buy textbooks and materials that have a blind-accessible version?
Do they only buy textbooks and materials that have a blind-accessible version?
Tuesday, November 10, 2009
Divisions Remain Ahead of Climate Change Conference in Denmark - FOXNews.com
Divisions Remain Ahead of Climate Change Conference in Denmark - FOXNews.com: "developing countries say the West grew rich on cheap energy that polluted the atmosphere."
The developing countries also greatly benefited from that.
The developing countries also greatly benefited from that.
2010 Tesla Roadster Sport first drive | The Car Tech blog - CNET Reviews
2010 Tesla Roadster Sport first drive | The Car Tech blog - CNET Reviews: "Tesla often emphasizes that it works more like a Silicon Valley technology company than a traditional car company. And the company just proved it by delivering a model update to the Tesla Roadster for 2010. Remember, the Roadster has only been in production for one year, but in that time Tesla completely redesigned the interior, while at the same time adding new materials to reduce cabin noise. Model updates from other automakers often take five years."
Saturday, November 07, 2009
Three Cheers for Divided Government | Gene Healy | Cato Institute: Commentary
Three Cheers for Divided Government | Gene Healy | Cato Institute: Commentary: "since the start of the Cold War, we've had only a dozen years of real fiscal restraint: Six under Eisenhower and a Democratic Congress, and six under Clinton and a GOP majority."
"since FDR, unified governments have spent roughly three times as fast as divided ones, and they've been much more likely to waste blood and treasure abroad."
"since FDR, unified governments have spent roughly three times as fast as divided ones, and they've been much more likely to waste blood and treasure abroad."
Friday, November 06, 2009
Planned Parenthood Director Quits After Watching Abortion on Ultrasound - Local News | News Articles | National News | US News - FOXNews.com
Planned Parenthood Director Quits After Watching Abortion on Ultrasound - Local News | News Articles | National News | US News - FOXNews.com: "'When I was working at Planned Parenthood I was extremely pro-choice,' Johnson told FoxNews.com. But after seeing the internal workings of the procedure for the first time on an ultrasound monitor, 'I would say there was a definite conversion in my heart ... a spiritual conversion.'
Johnson said she became disillusioned with her job after her bosses pressured her for months to increase profits by performing more and more abortions, which cost patients between $505 and $695."
"'Ideally my goal as the facility's director is that your abortion numbers don't increase,' because 'you're providing so much family planning and so much education that there is not a demand for abortion services.'
'But that was not their goal,' she said."
Johnson said she became disillusioned with her job after her bosses pressured her for months to increase profits by performing more and more abortions, which cost patients between $505 and $695."
"'Ideally my goal as the facility's director is that your abortion numbers don't increase,' because 'you're providing so much family planning and so much education that there is not a demand for abortion services.'
'But that was not their goal,' she said."
Campaign For Liberty — Marriage License & Registration, Please ��| by Steve Bierfeldt
Campaign For Liberty — Marriage License & Registration, Please ��| by Steve Bierfeldt: "In the American colonies and the subsequent Republic, the idea of the government holding preeminence over a marriage is a relatively new concept. Historically the 'requirement'to get married had more to do with obtaining parents' approval, making a public announcement, and finding a willing church official to perform the ceremony. State supreme courts often ruled public cohabitation was sufficient evidence the marriage was valid and referred to the couple as having been married under 'Common Law.' A couple whom had the approval of their parents, held a ceremony, and pledged their faithfulness to one another had made it as clear as possible they were getting married.
How then did we arrive at the point we now find ourselves? As time progressed, many states began passing laws outlawing the marriage of racially mixed couples. In the mid-1800's, certain states began allowing interracial marriages as long as those marrying received a the state's approval. In the 1920's more than 30 states prohibited whites from marrying individuals of another racial background. 18 states had restrictions on remarrying after a divorce, and a dozen states would refuse a license if one partner were a drunk, addict or "mental defect." Soon states began requiring all people to obtain a marriage license. By 1929, every state in the nation had adopted marriage license laws.
The government had now entered into the business of determining who was fit to marry, how drunk was "too drunk," or if some had an addiction or just a vice."
How then did we arrive at the point we now find ourselves? As time progressed, many states began passing laws outlawing the marriage of racially mixed couples. In the mid-1800's, certain states began allowing interracial marriages as long as those marrying received a the state's approval. In the 1920's more than 30 states prohibited whites from marrying individuals of another racial background. 18 states had restrictions on remarrying after a divorce, and a dozen states would refuse a license if one partner were a drunk, addict or "mental defect." Soon states began requiring all people to obtain a marriage license. By 1929, every state in the nation had adopted marriage license laws.
The government had now entered into the business of determining who was fit to marry, how drunk was "too drunk," or if some had an addiction or just a vice."
Thursday, November 05, 2009
Read the Bills? How about Reading the Constitution? | Gene Healy | Cato Institute: Commentary
Read the Bills? How about Reading the Constitution? | Gene Healy | Cato Institute: Commentary: "If congressmen can't be bothered to read a [campaign finance] law that directly affects them, should we be surprised that they're not planning to read the health care bill, which won't?"
Fannie, Freddie Mustn't Be Left Out Of Reform | Mark A. Calabria | Cato Institute: Commentary
Fannie, Freddie Mustn't Be Left Out Of Reform | Mark A. Calabria | Cato Institute: Commentary: "Ultimately, Fannie and Freddie were not bailed out in order to save our housing market; they were bailed out in order to protect the Chinese Central Bank from taking losses. Without the implicit federal guarantee of Fannie and Freddie, trillions of dollars of global capital flow would not have been funneled into the U.S. subprime mortgage market."
Welcome to the Health Care Free Lunch Cafe | Michael D. Tanner | Cato Institute: Commentary
Welcome to the Health Care Free Lunch Cafe | Michael D. Tanner | Cato Institute: Commentary: "At the core of the president's proposal is the idea that he can provide more health care services to more people and have it cost less. A neat trick – but one that flies in the face of economic reality, not to mention common sense.
For example, the president wants to require insurance companies to cover people with pre-existing conditions, that is, people who are already sick. Doing so will cost money. And where will that money come from? Insurance companies will simply raise premiums for the rest of us.
Similarly, the president would mandate that all insurance plans provide a new government-designed minimum benefits package. In addition to the usual coverage for hospitalization, physician services and so on, all insurance plans would also have to include coverage for prescription drugs, rehabilitation services, mental health and substance-abuse treatment; preventive services and maternity, well-baby, and well-child care, as well as dental, vision, and hearing services for children under age 21. If that's not enough, he would also establish a new federal commission headed by the surgeon general, which will have the power to develop additional minimum benefit requirements. There is no limit to how extensive those future required benefits may be."
For example, the president wants to require insurance companies to cover people with pre-existing conditions, that is, people who are already sick. Doing so will cost money. And where will that money come from? Insurance companies will simply raise premiums for the rest of us.
Similarly, the president would mandate that all insurance plans provide a new government-designed minimum benefits package. In addition to the usual coverage for hospitalization, physician services and so on, all insurance plans would also have to include coverage for prescription drugs, rehabilitation services, mental health and substance-abuse treatment; preventive services and maternity, well-baby, and well-child care, as well as dental, vision, and hearing services for children under age 21. If that's not enough, he would also establish a new federal commission headed by the surgeon general, which will have the power to develop additional minimum benefit requirements. There is no limit to how extensive those future required benefits may be."
Wednesday, November 04, 2009
Reduce, Reduce, Reduce, Reuse, Reuse, Recycle
The phrase is usually "Reduce, Reuse, Recycle" but I think that makes each part equally important. Reducing is the most important and recycling is the least important. But, of those three, recycling seems to get the most focus. Why isn't reducing given the most focus? If I reduce the usage of something, it is much better for conservation than to recycle it. Why isn't there a push to create and use items that last longer? Why can't I buy an appliance with a 10 year warranty (and expect it to last 25 years)? Just think of how much waste would be reduced if we used products that lasted longer! Why aren't there rebates for reusing and buying products with a longer warranty? Why is reusing discouraged by charging sales tax on used goods?
Obama's Protectionist Policies Hurting Low-Income Americans | Daniel Griswold | Cato Institute: Commentary
Obama's Protectionist Policies Hurting Low-Income Americans | Daniel Griswold | Cato Institute: Commentary: "America's highest remaining trade barriers are aimed at products mostly grown and made by poor people abroad and disproportionately consumed by poor people at home. While industrial goods and luxury products typically enter under low or zero tariffs, the U.S. government imposes duties of 30 percent or more on food and lower-end clothing and shoes - staple goods that loom large in the budgets of poor families."
"The tariff the president imposed on Chinese tires earlier this month was heavily biased against low-income American families. The affected tires typically cost $50 to $60 each, as compared with the unaffected tires that sell for $200 each. The result of the tariff will be an increase in lower-end tire prices of 20 percent to 30 percent. Low-income families struggling to keep their cars on the road will be forced to postpone replacing old and worn tires, putting their families at greater risk."
"The future president ignored the fact that every poor family must buy those shirts to keep themselves clothed, yet only one-third of 1 percent of American workers make clothing or textiles of any kind. A wealthy politician or TV commentator need not care about the price of a T-shirt or other everyday consumer items, but millions of poor and middle-class American families do care."
"In his 2007 book Freedom From Want: American Liberalism and the Global Economy, he calculated that a single mother earning $15,000 a year as a maid in a hotel will forfeit about a week's worth of her annual pay to the U.S. tariff system, while the hotel's $100,000-a-year manager will give up only two or three hours of pay."
"The tariff the president imposed on Chinese tires earlier this month was heavily biased against low-income American families. The affected tires typically cost $50 to $60 each, as compared with the unaffected tires that sell for $200 each. The result of the tariff will be an increase in lower-end tire prices of 20 percent to 30 percent. Low-income families struggling to keep their cars on the road will be forced to postpone replacing old and worn tires, putting their families at greater risk."
"The future president ignored the fact that every poor family must buy those shirts to keep themselves clothed, yet only one-third of 1 percent of American workers make clothing or textiles of any kind. A wealthy politician or TV commentator need not care about the price of a T-shirt or other everyday consumer items, but millions of poor and middle-class American families do care."
"In his 2007 book Freedom From Want: American Liberalism and the Global Economy, he calculated that a single mother earning $15,000 a year as a maid in a hotel will forfeit about a week's worth of her annual pay to the U.S. tariff system, while the hotel's $100,000-a-year manager will give up only two or three hours of pay."
Get Serious about Decriminalizing Drugs; Others Are | Tim Lynch and Juan Carlos Hidalgo | Cato Institute: Commentary
Get Serious about Decriminalizing Drugs; Others Are | Tim Lynch and Juan Carlos Hidalgo | Cato Institute: Commentary: "In 2001, Portugal decriminalized all drugs, including cocaine and heroin. Not only has the predicted spike in drug use and a public health crisis failed to materialize, Portugal's drug usage rates compare more favorably than many other European states that have kept up a strict 'lock 'em up' approach."
We Call Upon the Hedge Funds - Dan O'Connor - Mises Institute
We Call Upon the Hedge Funds - Dan O'Connor - Mises Institute: "What also separates the hedge funds from most of our financial system is that none of the hedge funds had their hands out in search of bailouts during the turmoil of 2008. In fact, a myriad of hedge funds went bust in this period. Some of them, worth billions of dollars, not only collapsed but did so in a very smooth fashion. Their collapse represents the natural process of liquidation, on which Mises and Hayek placed such a great emphasis in their analyses of the boom and bust periods historically caused by the expansion of money and credit.
Many of the more prescient hedge funds recognized the fact that 2006–2007 was an over-inflated boom period, specifically in the mortgage industry. Those who acknowledged this boom for what it was were able to shift their capital away from the mortgage industry or bet against it. Those companies that remained highly invested in the mortgage industry (e.g., AIG and Lehman Brothers) failed."
"The US government is deeply afraid of failure, which is in fact an integral part of a pure capitalist model. Many economists and politicians define America's economy as "capitalist" but one of the most essential aspects of capitalism, failure, is being blocked by government. Those who continue to criticize America's "capitalist" system need to realize how far the country has strayed from it.
Short selling actually adds efficiency to the market, because it identifies weaker companies and filters them out of the market more quickly. This increases competition and encourages companies to perform as best as they can. For example, if hedge funds short sell Britannica and buy Wikipedia long, this sort of market action only promotes a speedier way to filter out the obsolete player. If Britannica fears its stock being sold short, it is more likely to urgently shift up its business strategy in order to meet the changing needs and habits of consumers.
In 2003, The Economist noted that 'constraints on short selling allowed stocks to become more overvalued during the most recent bull run.… More short selling then might have made the bear market less painful now.' Suppressing short selling with tighter regulation of hedge funds also stifled the market's ability to police itself."
Many of the more prescient hedge funds recognized the fact that 2006–2007 was an over-inflated boom period, specifically in the mortgage industry. Those who acknowledged this boom for what it was were able to shift their capital away from the mortgage industry or bet against it. Those companies that remained highly invested in the mortgage industry (e.g., AIG and Lehman Brothers) failed."
"The US government is deeply afraid of failure, which is in fact an integral part of a pure capitalist model. Many economists and politicians define America's economy as "capitalist" but one of the most essential aspects of capitalism, failure, is being blocked by government. Those who continue to criticize America's "capitalist" system need to realize how far the country has strayed from it.
Short selling actually adds efficiency to the market, because it identifies weaker companies and filters them out of the market more quickly. This increases competition and encourages companies to perform as best as they can. For example, if hedge funds short sell Britannica and buy Wikipedia long, this sort of market action only promotes a speedier way to filter out the obsolete player. If Britannica fears its stock being sold short, it is more likely to urgently shift up its business strategy in order to meet the changing needs and habits of consumers.
In 2003, The Economist noted that 'constraints on short selling allowed stocks to become more overvalued during the most recent bull run.… More short selling then might have made the bear market less painful now.' Suppressing short selling with tighter regulation of hedge funds also stifled the market's ability to police itself."
Obama Administration to Order Steep Pay Cuts for Bailed-Out Companies - FOXNews.com
Obama Administration to Order Steep Pay Cuts for Bailed-Out Companies - FOXNews.com: "The Obama administration plans to order companies that received the most money from the $700 billion Wall Street bailout to slash pay to top executives, a government source told Fox Business Network.�
Under the plan, the seven companies that received the most government aid will have to cut annual salaries by about 90 percent from last year for the 25 highest-paid executives."
Surprise! Surprise! The government attached more strings after the fact -- even when they made some companies participate that didn't want to participate.
Under the plan, the seven companies that received the most government aid will have to cut annual salaries by about 90 percent from last year for the 25 highest-paid executives."
Surprise! Surprise! The government attached more strings after the fact -- even when they made some companies participate that didn't want to participate.
Italian Court Convicts 23 Americans in CIA Extraordinary Rendition Case - International News | News of the World | Middle East News | Europe News - FO
Italian Court Convicts 23 Americans in CIA Extraordinary Rendition Case - International News | News of the World | Middle East News | Europe News - FOXNews.com: "In addition, Italy's highest court ruled some key evidence inadmissible because it is considered classified — including dossiers seized from the Rome apartment of an Italian intelligence agent and the testimony of a carabinieri officer allegedly at the scene of the kidnapping.
That does make the outcome suspect.
Magi ruled that the trial could go forward despite the ruling."
That does make the outcome suspect.
Magi ruled that the trial could go forward despite the ruling."
Can Government Fight Epidemics? - Eric M. Staib - Mises Institute
Can Government Fight Epidemics? - Eric M. Staib - Mises Institute: "The vast magnitude of this undersupply reveals not simple dysfunction in the Department of Health and Human Services (DHHS) but rather the necessary failure of central planning.
The problem began simply enough: the DHHS granted itself a monopoly on the production, pricing, and distribution of H1N1 flu vaccines."
"By awarding the total revenue of the project in advance, the DHHS set a rigid cost ceiling for Novartis. It is plausible that Novartis soon figured out that producing 150 million flu shots annually for eight years would take more resources than they could afford to purchase with their maximum possible revenue of $486 million."
The problem began simply enough: the DHHS granted itself a monopoly on the production, pricing, and distribution of H1N1 flu vaccines."
"By awarding the total revenue of the project in advance, the DHHS set a rigid cost ceiling for Novartis. It is plausible that Novartis soon figured out that producing 150 million flu shots annually for eight years would take more resources than they could afford to purchase with their maximum possible revenue of $486 million."
Tuesday, November 03, 2009
Obama as Bad as Bush-Cheney | Nat Hentoff | Cato Institute: Commentary
Obama as Bad as Bush-Cheney | Nat Hentoff | Cato Institute: Commentary: "It was Feingold who, in October 2001, was the only member of the Senate to vote against the original Patriot Act as, on the floor, he accurately predicted our greatly weakened privacy, due process and other rights since then."
That shows that he has principal. He didn't "vote against it after voting for it." As Franklin said, liberty should not be traded for safety.
"'No federal agency,' said Congressman Edwards, 'the CIA, the IRS, or the FBI, can be at the same time policeman, prosecutor, judge and jury. That is what constitutionally guaranteed due process is all about. It may sometimes be disorderly and unsatisfactory to some, but it is the essence of freedom.'
The Constitution, Edwards continued, does not permit 'federal interference' with Americans' speech or associations, and other such citizen constitutional rights, 'except through the criminal justice system, armed with its ancient safeguards.' Like mandated judicial supervision -- absent from current Obama administration FBI surveillance guidelines."
That shows that he has principal. He didn't "vote against it after voting for it." As Franklin said, liberty should not be traded for safety.
"'No federal agency,' said Congressman Edwards, 'the CIA, the IRS, or the FBI, can be at the same time policeman, prosecutor, judge and jury. That is what constitutionally guaranteed due process is all about. It may sometimes be disorderly and unsatisfactory to some, but it is the essence of freedom.'
The Constitution, Edwards continued, does not permit 'federal interference' with Americans' speech or associations, and other such citizen constitutional rights, 'except through the criminal justice system, armed with its ancient safeguards.' Like mandated judicial supervision -- absent from current Obama administration FBI surveillance guidelines."
Be a Good Victim | David Rittgers | Cato Institute: Commentary
Be a Good Victim | David Rittgers | Cato Institute: Commentary: "At the moment of the killings, two on-duty Marin County sheriff's deputies were within 100 yards of the shooter. One was close enough to see the muzzle blast of the shotgun. The police officers, however, did not move against the culprit. One, stuck in traffic, called in a description of the killer's vehicle as he fled. The other positioned her car to prevent traffic from entering the crime scene.
These two law-enforcement officers did what police officers tell the public to do: Don't intervene. Get a description of the offender. Call the police. Be a good witness.
Much debate ensued about whether the officers' behavior was appropriate, but the real tragedy is that the victims of this rampage did not have the legal opportunity to arm themselves. To them, the message was clear: Be a good victim."
These two law-enforcement officers did what police officers tell the public to do: Don't intervene. Get a description of the offender. Call the police. Be a good witness.
Much debate ensued about whether the officers' behavior was appropriate, but the real tragedy is that the victims of this rampage did not have the legal opportunity to arm themselves. To them, the message was clear: Be a good victim."
Hu versus Sarkozy | Steve H. Hanke | Cato Institute: Commentary
Hu versus Sarkozy | Steve H. Hanke | Cato Institute: Commentary: "According to most accounts, the stock market crash of October 1929 was the spark that sent the economy spiraling downward.
How could this be? After all, by November 1929, the stock market had started to recover, and by mid-April 1930, it had reached its pre-crash level. Contrary to the received wisdom, massive government failure — not the stock market crash — pushed the United States into the Great Depression."
"GDP growth and levels of GDP per capita are closely, and positively, associated with metrics that measure the vitality of free markets and the ease of doing business (see the accompanying table). And that's not all. Economic growth is, quite literally, a matter of life and death. As the accompanying chart indicates, prosperity (measured by standard metrics) affects life expectancy (health) in a positive way."
How could this be? After all, by November 1929, the stock market had started to recover, and by mid-April 1930, it had reached its pre-crash level. Contrary to the received wisdom, massive government failure — not the stock market crash — pushed the United States into the Great Depression."
"GDP growth and levels of GDP per capita are closely, and positively, associated with metrics that measure the vitality of free markets and the ease of doing business (see the accompanying table). And that's not all. Economic growth is, quite literally, a matter of life and death. As the accompanying chart indicates, prosperity (measured by standard metrics) affects life expectancy (health) in a positive way."
Exclusive: Inside Account of U.S. Eavesdropping on Americans - ABC News
Exclusive: Inside Account of U.S. Eavesdropping on Americans - ABC News: "'By casting the net so wide and continuing to collect on Americans and aid organizations, it's almost like they're making the haystack bigger and it's harder to find that piece of information that might actually be useful to somebody,' she said. 'You're actually hurting our ability to effectively protect our national security.'"
FACT CHECK: Health Insurers' Profits Not So Fat - FOXNews.com
FACT CHECK: Health Insurers' Profits Not So Fat - FOXNews.com: "In the health care debate, Democrats and their allies have gone after insurance companies as rapacious profiteers making 'immoral' and 'obscene' returns while 'the bodies pile up.'
But in pillorying insurers over profits, the critics are on shaky ground. Ledgers tell a different reality.
Health insurance profit margins typically run about 6 percent, give or take a point or two. That's anemic compared with other forms of insurance and a broad array of industries, even some beleaguered ones."
It looks like politicians are trying to redirect our focus.
But in pillorying insurers over profits, the critics are on shaky ground. Ledgers tell a different reality.
Health insurance profit margins typically run about 6 percent, give or take a point or two. That's anemic compared with other forms of insurance and a broad array of industries, even some beleaguered ones."
It looks like politicians are trying to redirect our focus.
Stoke China's Fears | Ted Galen Carpenter | Cato Institute: Commentary
Stoke China's Fears | Ted Galen Carpenter | Cato Institute: Commentary: "By reiterating Washington's commitment to extended deterrence — especially the nuclear component — U.S. officials send a message to Chinese leaders that they don't need to worry about Japan (or South Korea) developing an independent deterrent."
"Even as Japanese and South Korean leaders insist that North Korea poses a serious threat, they persist with anemic defense budgets. Although it shares a border with perhaps the most ruthless and unpredictable country in the world, South Korea spends less than 2.5 percent of its gross domestic product on the military. Seoul continues to rely on the United States for critical elements of its defense, especially air and naval power.
Security free riding is also alive and well in Japan. Indeed, South Korea's military effort seems robust compared to Japan's. Despite North Korea's repeated saber-rattling, Tokyo spends a paltry 0.9 percent of its GDP on defense, and that situation may get even worse under the new left-leaning government."
"Even as Japanese and South Korean leaders insist that North Korea poses a serious threat, they persist with anemic defense budgets. Although it shares a border with perhaps the most ruthless and unpredictable country in the world, South Korea spends less than 2.5 percent of its gross domestic product on the military. Seoul continues to rely on the United States for critical elements of its defense, especially air and naval power.
Security free riding is also alive and well in Japan. Indeed, South Korea's military effort seems robust compared to Japan's. Despite North Korea's repeated saber-rattling, Tokyo spends a paltry 0.9 percent of its GDP on defense, and that situation may get even worse under the new left-leaning government."
Political Mailing Lists: A Message from Senator Kohl on Crime Prevention Month
Political Mailing Lists: A Message from Senator Kohl on Crime Prevention Month: "Striking the right balance includes hard work at preventing truancy and gang activity, cracking down on drug trafficking, providing safe and constructive after-school programs for at-risk kids"
Removing the minimum wage (and other restrictions on employment) would help with those issues.
Removing the minimum wage (and other restrictions on employment) would help with those issues.
Reasons why the English language is so hard to learn - UsingEnglish.com ESL Forum
Reasons why the English language is so hard to learn - UsingEnglish.com ESL Forum: "Reasons why the English language is so hard to learn:
1) The bandage was wound around the wound.
2) The farm was used to produce produce.
3) The dump was so full that it had to refuse more refuse.
4) We must polish the Polish furniture.
5) He could lead if he would get the lead out.
6) The soldier decided to desert his dessert in the desert.
7) Since there is no time like the present, he thought it was time to present the present.
8) A bass was painted on the head of the bass drum.
9) When shot at, the dove dove into the bushes.
10) I did not object to the object.
11) The insurance was invalid for the invalid.
12) There was a row among the oarsmen about how to row.
13) They were too close to the door to close it.
14) The buck does funny things when the does are present.
15) A seamstress and a sewer fell down into a sewer line.
16) To help with planting, the farmer taught his sow to sow.
17) The wind was too strong to wind the sail.
18) After a number of injections my jaw got number.
19) Upon seeing the tear in the painting I shed a tear.
20) I had to subject the subject to a series of tests.
21) How can I intimate this to my most intimate friend?"
1) The bandage was wound around the wound.
2) The farm was used to produce produce.
3) The dump was so full that it had to refuse more refuse.
4) We must polish the Polish furniture.
5) He could lead if he would get the lead out.
6) The soldier decided to desert his dessert in the desert.
7) Since there is no time like the present, he thought it was time to present the present.
8) A bass was painted on the head of the bass drum.
9) When shot at, the dove dove into the bushes.
10) I did not object to the object.
11) The insurance was invalid for the invalid.
12) There was a row among the oarsmen about how to row.
13) They were too close to the door to close it.
14) The buck does funny things when the does are present.
15) A seamstress and a sewer fell down into a sewer line.
16) To help with planting, the farmer taught his sow to sow.
17) The wind was too strong to wind the sail.
18) After a number of injections my jaw got number.
19) Upon seeing the tear in the painting I shed a tear.
20) I had to subject the subject to a series of tests.
21) How can I intimate this to my most intimate friend?"
Monday, November 02, 2009
How Congress Is Cooking the Books | Michael D. Tanner | Cato Institute: Commentary
How Congress Is Cooking the Books | Michael D. Tanner | Cato Institute: Commentary: "Last week, the Senate Finance Committee voted 12-11 not to wait for the Congressional Budget Office to 'score' its health-care bill before the committee votes on it. Imagine that: Some senators actually wanted to know how much the bill costs before voting on it."
"The CBO provides 10- year projections of a bill's cost. But most provisions of the health bill don't take effect until 2014. So the "10-year" cost projection only includes six years of the bill.
Plus, the costs ramp up slowly. In its first year, the House bill would only cost about $6 billion; in its first three, less than $100 billion. The big costs are in the final years of the 10-year budget window — and beyond. In fact, over the first 10 years that the House bill would be in existence (2014 to 2024), its costs would be closer to $2.4 trillion. Similarly, the real cost of the Senate bill over 10 years of operation is estimated at $1.5 trillion.
Worse, the trajectory of the costs after 10 years rises dramatically — meaning 'reform' would cost even more in its second 10 years and beyond."
"For example, the Senate bill relies on Medicare "savings" that Congress keeps refusing to make. Specifically, Medicare has long been ordered to cut 21 percent from what it pays health-care providers — yet, each year since 2003, for reasons both good and bad, Congress has voted to defer the cuts.
Does anyone else really think that Congress is simply going to slash payments to doctors and hospitals by 21 percent across the board?"
"The CBO provides 10- year projections of a bill's cost. But most provisions of the health bill don't take effect until 2014. So the "10-year" cost projection only includes six years of the bill.
Plus, the costs ramp up slowly. In its first year, the House bill would only cost about $6 billion; in its first three, less than $100 billion. The big costs are in the final years of the 10-year budget window — and beyond. In fact, over the first 10 years that the House bill would be in existence (2014 to 2024), its costs would be closer to $2.4 trillion. Similarly, the real cost of the Senate bill over 10 years of operation is estimated at $1.5 trillion.
Worse, the trajectory of the costs after 10 years rises dramatically — meaning 'reform' would cost even more in its second 10 years and beyond."
"For example, the Senate bill relies on Medicare "savings" that Congress keeps refusing to make. Specifically, Medicare has long been ordered to cut 21 percent from what it pays health-care providers — yet, each year since 2003, for reasons both good and bad, Congress has voted to defer the cuts.
Does anyone else really think that Congress is simply going to slash payments to doctors and hospitals by 21 percent across the board?"
Michael Moore Kills Capitalism with Kool-Aid - Michael W. Covel - Mises Institute
Michael Moore Kills Capitalism with Kool-Aid - Michael W. Covel - Mises Institute: "And that view of course puts me in opposition to Moore since he has no problem with government as his and our father figure. That is his utopia. He truly believes that warehouses of federal workers, in Washington, D.C., remotely running our lives is the optimal plan. He is an unapologetic socialist who really doesn't care why the poor are poor or the rich are rich, he just wants it fixed."
"Arguably the most successful documentarian ever — a man who has made untold millions of dollars — was going to legitimately make the case that there was an alternative to capitalism."
"We listen to heartbreaking stories of foreclosed families across America — but we don't learn why the foreclosures happened. Did these people treat their homes as piggy banks? Was there refinancing on top of refinancing just to keep buying mall trinkets and other goodies with no respect to risk or logic? We don't find out."
"We listen to Catholic priests who denounce capitalism as an evil to be eradicated. What would they put in its place and how would the new system work? The priests don't tell us."
"ow does one legislate words like useful, enough, recreation, adequate, decent, and good? Who decides all of this and to what degree?"
"Phil Donahue was interviewing free-market economist Milton Friedman and wanted to know if Friedman had ever had a moment of doubt about "capitalism and whether greed's a good idea to run on?"
Friedman was quick in response:
Donahue then countered saying that capitalism doesn't reward virtue, but instead rewards the ability to manipulate the system. Friedman was having none of it:
"Arguably the most successful documentarian ever — a man who has made untold millions of dollars — was going to legitimately make the case that there was an alternative to capitalism."
"We listen to heartbreaking stories of foreclosed families across America — but we don't learn why the foreclosures happened. Did these people treat their homes as piggy banks? Was there refinancing on top of refinancing just to keep buying mall trinkets and other goodies with no respect to risk or logic? We don't find out."
"We listen to Catholic priests who denounce capitalism as an evil to be eradicated. What would they put in its place and how would the new system work? The priests don't tell us."
"ow does one legislate words like useful, enough, recreation, adequate, decent, and good? Who decides all of this and to what degree?"
"Phil Donahue was interviewing free-market economist Milton Friedman and wanted to know if Friedman had ever had a moment of doubt about "capitalism and whether greed's a good idea to run on?"
Friedman was quick in response:
Is there some society you know that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run on greed? … The world runs on individuals pursuing their separate interests. The great achievements of civilization have not come from government bureaus. Einstein didn't construct his theory under order from a bureaucrat. Henry Ford didn't revolutionize the automobile industry that way. In the only cases in which the masses have escaped from the kind of grinding poverty you're talking about, the only cases in recorded history are where they have had capitalism and largely free trade. If you want to know where the masses are worst off, it's exactly in the kinds of societies that depart from that. So that the record of history is absolutely crystal clear: that there is no alternative way so far discovered of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.
Donahue then countered saying that capitalism doesn't reward virtue, but instead rewards the ability to manipulate the system. Friedman was having none of it:
And what does reward virtue? You think the communist commissar rewards virtue? … Do you think American presidents reward virtue? Do they choose their appointees on the basis of the virtue of the people appointed or on the basis of their political clout? Is it really true that political self-interest is nobler somehow than economic self-interest? … Just tell me where in the world you find these angels who are going to organize society for us?"
Campaign For Liberty — Quit Talking Stupid
Campaign For Liberty — Quit Talking Stupid: "There are 105 million people who work in the private sector - that is where all the money comes from.� We spend $2.6 trillion each year on health care, so do the math: that's $24,762 each if everybody pays their fair share.
�
If we include public sector workers, the share drops to just under $20,000. I know we pay their salaries, so it doesn't change anything, but it would be fun to see university professors and Congressmen put their own money where their mouth is for once.��
���
It is nonsense to keep talking about coverage, access, and rights as if health care were free air.� Rosa Parks sought access to a seat in the front of the bus; she did not demand that the guy in seat 12A pay for it, and she did not call him a racist for thinking they should each buy their own.�
�
No, Ms. Parks did not talk stupid, like our leaders do. How can we possibly expand coverage to 47 million more people without adding a single doctor, and not have longer waits for appointments? That is talking stupid.
How can we possibly cover all those additional people without increasing taxes or increasing the deficit? That is talking stupid.
How can we say the 10-year "cost" of reform will stay under one trillion dollars by simply delaying enactment of the bill's provisions for the first four years and counting zeros in the total? That is talking stupid. "
"Proponents of universal health care like this bumper sticker: 'you should not go broke just because you get sick'. That would be a great ad pitch for an insurance company, but it is a silly moral premise. Who should go broke, then? Or should doctors and nurses and lab techs and billing clerks all have to work as slaves for no pay, so that nobody does?
Here is an improved, quit-talking-stupid version: 'you should not go broke just because I get sick'. Treatment of a serious deadly illness can quickly run into the hundreds of thousands of dollars."
"In Europe, they have universal health care. They also earn 29% less than we do, and they pay twice the payroll tax we do - 30% with no upper limit. And they pay higher income tax than we do, and they pay a VAT tax that we don't. So their disposable income is half of ours on average, and their unemployment rate is double. President Obama forgot to tell you about that stuff when he was bragging up how old they are in Denmark.
So how about it - are you willing to take a 50% pay cut so the government can run health care? Is it worth living half-broke your whole life just to squeeze out an extra year or two warehoused in a government home at the end of it? Not me."
�
If we include public sector workers, the share drops to just under $20,000. I know we pay their salaries, so it doesn't change anything, but it would be fun to see university professors and Congressmen put their own money where their mouth is for once.��
���
It is nonsense to keep talking about coverage, access, and rights as if health care were free air.� Rosa Parks sought access to a seat in the front of the bus; she did not demand that the guy in seat 12A pay for it, and she did not call him a racist for thinking they should each buy their own.�
�
No, Ms. Parks did not talk stupid, like our leaders do. How can we possibly expand coverage to 47 million more people without adding a single doctor, and not have longer waits for appointments? That is talking stupid.
How can we possibly cover all those additional people without increasing taxes or increasing the deficit? That is talking stupid.
How can we say the 10-year "cost" of reform will stay under one trillion dollars by simply delaying enactment of the bill's provisions for the first four years and counting zeros in the total? That is talking stupid. "
"Proponents of universal health care like this bumper sticker: 'you should not go broke just because you get sick'. That would be a great ad pitch for an insurance company, but it is a silly moral premise. Who should go broke, then? Or should doctors and nurses and lab techs and billing clerks all have to work as slaves for no pay, so that nobody does?
Here is an improved, quit-talking-stupid version: 'you should not go broke just because I get sick'. Treatment of a serious deadly illness can quickly run into the hundreds of thousands of dollars."
"In Europe, they have universal health care. They also earn 29% less than we do, and they pay twice the payroll tax we do - 30% with no upper limit. And they pay higher income tax than we do, and they pay a VAT tax that we don't. So their disposable income is half of ours on average, and their unemployment rate is double. President Obama forgot to tell you about that stuff when he was bragging up how old they are in Denmark.
So how about it - are you willing to take a 50% pay cut so the government can run health care? Is it worth living half-broke your whole life just to squeeze out an extra year or two warehoused in a government home at the end of it? Not me."
Campaign For Liberty — Counting Snouts
Campaign For Liberty — Counting Snouts: "By my count, that's 54 snouts in the trough, not including the government snout factory that regulates all and mandates half of this insanity. God forbid an MD and a Ph.D. could manage to exchange $15 on our own; no, we need 54 cubicle jockeys a-heppin' us to get it wrong.
And that, my friends, is what is wrong with health care. That is all that is wrong with health care.
That is how you turn a simple $15 exchange that any two crack-heads can accomplish unaided into a $175 cluster-grunt that takes 54 people with college degrees 6 months to get completed. And we make fun of crack-heads?
How about that public option/single payer idea? That just replaces my claims processor's private sector snouts with government snouts."
And that, my friends, is what is wrong with health care. That is all that is wrong with health care.
That is how you turn a simple $15 exchange that any two crack-heads can accomplish unaided into a $175 cluster-grunt that takes 54 people with college degrees 6 months to get completed. And we make fun of crack-heads?
How about that public option/single payer idea? That just replaces my claims processor's private sector snouts with government snouts."
Forfeiture Laws, the War on Drugs, and Alvarez v. Smith | Ilya Somin | Cato Institute: Commentary
Forfeiture Laws, the War on Drugs, and Alvarez v. Smith | Ilya Somin | Cato Institute: Commentary: "The Illinois Drug Asset Forfeiture Procedure Act (DAFPA) allows the police to seize property that may have been involved in a drug-related crime and hold onto it for up to 187 days without any kind of legal hearing. This rule applies even to property owned by completely innocent persons who simply had their possessions caught up in a drug investigation through no fault of their own – for example, if someone else used their car to transport illegal drugs without their knowledge. The three car owners involved in Alvarez were never even charged with a crime, much less convicted. Under DAFPA, the authorities also don't have to prove that keeping innocent owners' property is necessary in order to prevent the loss of valuable evidence."
The Inevitable Medicare Cuts | Michael D. Tanner | Cato Institute: Commentary
The Inevitable Medicare Cuts | Michael D. Tanner | Cato Institute: Commentary: "The Democrats would have us believe that they can cut $500 billion from Medicare spending over the next 10 years without anyone getting less of anything. They are going to save that money, the president says, by eliminating 'fraud, waste, and abuse.' Undoubtedly that would be the same fraud, waste and abuse that presidents have been eliminating since at least, say, Ronald Reagan."
"The bills currently making their way through Congress would cut payments to Medicare Advantage plans by $100 billion to $150 billion. In response, many insurers are expected to stop participating in the program, while others will probably increase the premiums they charge seniors. Millions of seniors will likely be forced off their current plans and back into traditional Medicare. The Congressional Budget Office makes it clear that, at the very least, the cuts 'would reduce the extra benefits that would be made available to beneficiaries through Medicare Advantage plans.'"
"the bills would reduce reimbursements for diagnostic imaging — things like CT scans, MRIs and X-rays — by as much as 25 percent. And the Senate Finance Committee's bill would penalize doctors who perform too many procedures or tests. Providers whose utilization is in the 90th percentile or above, compared to national averages, will have their Medicare reimbursements cut. The whole point of such provisions is to reduce services.
On top of that, the Senate Finance Committee assumes that there will be a 21 percent across-the-board reduction in what Medicare pays providers. This cut is scheduled under current law and is not technically part of the health care bill, but most observers had expected Congress to defer those cuts, as they have every year since 2001."
"The bills currently making their way through Congress would cut payments to Medicare Advantage plans by $100 billion to $150 billion. In response, many insurers are expected to stop participating in the program, while others will probably increase the premiums they charge seniors. Millions of seniors will likely be forced off their current plans and back into traditional Medicare. The Congressional Budget Office makes it clear that, at the very least, the cuts 'would reduce the extra benefits that would be made available to beneficiaries through Medicare Advantage plans.'"
"the bills would reduce reimbursements for diagnostic imaging — things like CT scans, MRIs and X-rays — by as much as 25 percent. And the Senate Finance Committee's bill would penalize doctors who perform too many procedures or tests. Providers whose utilization is in the 90th percentile or above, compared to national averages, will have their Medicare reimbursements cut. The whole point of such provisions is to reduce services.
On top of that, the Senate Finance Committee assumes that there will be a 21 percent across-the-board reduction in what Medicare pays providers. This cut is scheduled under current law and is not technically part of the health care bill, but most observers had expected Congress to defer those cuts, as they have every year since 2001."
Deafening Silence on Real Climate Change | Patrick J. Michaels | Cato Institute: Commentary
Deafening Silence on Real Climate Change | Patrick J. Michaels | Cato Institute: Commentary: "A 30-year minimum Antarctic snowmelt record occurred during austral summer 2008-09"
"The last three years are clearly those with the lowest aggregate melt on record."
"May 29, 2007: NASA Researcher Finds Days of Snow Melting on the Rise in Greenland. 'In 2006, Greenland experienced more days of melting snow and at higher altitudes than average over the past 18 years.' Stop the presses! The last we heard each and every year has a fifty-fifty chance of being above (or below) average."
"This one is unbelievably misleading. 'In fact, the amount of snow that has melted this year over Greenland is the equivalent of more than twice the surface size of the U.S.'. This is patently impossible — as Greenland's total area is about a quarter of that of the lower 48 states."
"The last three years are clearly those with the lowest aggregate melt on record."
"May 29, 2007: NASA Researcher Finds Days of Snow Melting on the Rise in Greenland. 'In 2006, Greenland experienced more days of melting snow and at higher altitudes than average over the past 18 years.' Stop the presses! The last we heard each and every year has a fifty-fifty chance of being above (or below) average."
"This one is unbelievably misleading. 'In fact, the amount of snow that has melted this year over Greenland is the equivalent of more than twice the surface size of the U.S.'. This is patently impossible — as Greenland's total area is about a quarter of that of the lower 48 states."
See the World Like Elinor Ostrom | Will Wilkinson | Cato Institute: Commentary
See the World Like Elinor Ostrom | Will Wilkinson | Cato Institute: Commentary: "To see the world more like Elinor Ostrom is to see humans and their communities as a natural part of the natural order, not as invading aliens essentially at odds with their environment or one another. Ostrom has emphasized none of us would be here today had our ancestors failed to work together to find ways to align individual interest with public interest."
"But successful solutions to the problems of ecologically embedded common life often depend crucially on the fine-grained details of the problem. That's why top-down, one-size-fits-all solutions so often fail.
According to Ostrom, the terrain of a meadow, shape of a pond, or population of a village can make all the difference."
"Because the devil's in the details, it's hard to say in advance what mix of institutions will work best in a given place."
"Many believed that the consolidation and centralization of police authority and administration would both save money and help fight rising crime rates. But the Ostroms found that the opposite was true; people living in small jurisdictions within large metropolitan regions got better policing for less money. Public order is best assured by what may look like a chaotic hodge-podge of overlapping institutions."
"But successful solutions to the problems of ecologically embedded common life often depend crucially on the fine-grained details of the problem. That's why top-down, one-size-fits-all solutions so often fail.
According to Ostrom, the terrain of a meadow, shape of a pond, or population of a village can make all the difference."
"Because the devil's in the details, it's hard to say in advance what mix of institutions will work best in a given place."
"Many believed that the consolidation and centralization of police authority and administration would both save money and help fight rising crime rates. But the Ostroms found that the opposite was true; people living in small jurisdictions within large metropolitan regions got better policing for less money. Public order is best assured by what may look like a chaotic hodge-podge of overlapping institutions."
Malpractice on the Market - Eric M. Staib - Mises Institute
Malpractice on the Market - Eric M. Staib - Mises Institute: "Malpractice lawsuits, just as lawsuits against corporations, are an important mechanism for the maintenance of financial incentives in the market. While the specialized nature of both physicians and certain afflictions can sometimes limit choice and therefore competition, the threat of a malpractice lawsuit is sufficient to keep doctors from providing reckless care. In this way, the threat of malpractice suits spreads some of the risk of negative health outcomes to doctors. There is a trade-off to this redistribution of risk, however, as doctors who assume a larger portion of malpractice risk will charge higher prices for their services."
"Now that we understand the functions of malpractice lawsuits and insurance, we are able to examine the causes of their failures in America. The symptoms are well-known: unpredictable malpractice rewards, often disproportionate to damages and sometimes even in the millions of dollars, make malpractice insurance unprofitable at low premium levels.
This perverse state of affairs is a result of a government monopoly on malpractice arbitration and the regulation of malpractice contracting between patients and doctors."
"increasingly risk-averse doctors will perform fewer health services, and will discontinue most heavily those services that carry the highest risks. This is precisely why so many doctors are leaving the high-risk fields of obstetrics and gynecology in favor of other areas of practice."
"with higher prices, poor consumers will not have the financial means to acquire these risky services"
"Just as with emergency care, we can see that government regulation, which purportedly protects citizens from the dangers of a free market, forces the most needy patients out of that market. 'Underserved areas' in the medical-care market are visible and tragic government failures."
"attempting to reach more-efficient market outcomes with caps on rewards is just as destructive as allowing 'jackpot justice' and risk-dumping to continue."
"Private negotiation of prices must also be allowed and respected, for at a constant price no doctor will accept a greater share of the procedure's risk. Therefore, what is pejoratively called price discrimination will and should occur on a free market for risk-bearing medical services. With customizable combinations of risk and price, high-income and risk-averse consumers will be able to pay higher prices to be guaranteed large rewards in the case of malpractice, while lower-income consumers will finally achieve greater access to risky procedures, which they're deprived of by the current legal structure."
"Now that we understand the functions of malpractice lawsuits and insurance, we are able to examine the causes of their failures in America. The symptoms are well-known: unpredictable malpractice rewards, often disproportionate to damages and sometimes even in the millions of dollars, make malpractice insurance unprofitable at low premium levels.
This perverse state of affairs is a result of a government monopoly on malpractice arbitration and the regulation of malpractice contracting between patients and doctors."
"increasingly risk-averse doctors will perform fewer health services, and will discontinue most heavily those services that carry the highest risks. This is precisely why so many doctors are leaving the high-risk fields of obstetrics and gynecology in favor of other areas of practice."
"with higher prices, poor consumers will not have the financial means to acquire these risky services"
"Just as with emergency care, we can see that government regulation, which purportedly protects citizens from the dangers of a free market, forces the most needy patients out of that market. 'Underserved areas' in the medical-care market are visible and tragic government failures."
"attempting to reach more-efficient market outcomes with caps on rewards is just as destructive as allowing 'jackpot justice' and risk-dumping to continue."
"Private negotiation of prices must also be allowed and respected, for at a constant price no doctor will accept a greater share of the procedure's risk. Therefore, what is pejoratively called price discrimination will and should occur on a free market for risk-bearing medical services. With customizable combinations of risk and price, high-income and risk-averse consumers will be able to pay higher prices to be guaranteed large rewards in the case of malpractice, while lower-income consumers will finally achieve greater access to risky procedures, which they're deprived of by the current legal structure."
The Illusion of Living Wage Laws - Bill Barnes - Mises Institute
The Illusion of Living Wage Laws - Bill Barnes - Mises Institute: "The data show that the people most likely to be affected by living-wage legislation are black, teenage males. This group had a national unemployment rate of 33.8 percent in 2007. When the data are broken down for black males aged 16 and 17, the unemployment rate is in excess of 40 percent.
These numbers are staggering, and they would only get worse with a living wage. Some teenagers would not even have the option of work because the value of their marginal revenue would not equal their new, higher wage cost.
So, what happens to these people who are left jobless? Well, they still need money and something to do during the day.
Not surprisingly, crime rates are highest among those in their late teens and early twenties. The Georgia Bureau of Investigation cites young people, aged 17–21, as perpetrating 23.4 percent of the crimes in the state.[3]
It is no coincidence that those who cannot find work tend to find things that get them into trouble to fill their time. I argue that enactment of a living wage would only put more young people on the streets rather than in jobs where they can learn skills that will serve them well in the future.
Not only is this lack of work bad for young people and other low-skilled workers, but it also hurts the local economy. Due to the higher mandated wage, jobs that are not worth this wage will no longer be performed legally in the community. Trash pickup, general cleaning, inexpensive food preparation, farming, and many other tasks would be either neglected or moved to places with lower wage costs.
This general lack of production would not be due to people's lack of desire to do the work, but to government's intervention, which would keep the tasks from being done on the grounds that their monetary value doesn't fit with the social agenda. It may seem desirable to keep people from working for too little money, but keeping people who want those jobs out of work is both an attack on liberty and a mistake in economics."
"Standards of living do not increase with wages, but rather with production. Society needs people to produce at any wage, and then prices will reflect the wages being earned for a given task. Once we look at the living-wage law from the point of view of someone who loses his or her job (as opposed to someone who gets a raise), we see its ugly side.
Ultimately, a living wage in Athens (or anywhere) will actually hurt the poor rather than helping them. It will decrease production, increase counterproductive activity for the least skilled, and increase prices for the entire population. Cities like Athens should encourage work instead, by minimizing regulations on labor and allowing everyone's standard of living to increase with unadulterated production."
These numbers are staggering, and they would only get worse with a living wage. Some teenagers would not even have the option of work because the value of their marginal revenue would not equal their new, higher wage cost.
So, what happens to these people who are left jobless? Well, they still need money and something to do during the day.
Not surprisingly, crime rates are highest among those in their late teens and early twenties. The Georgia Bureau of Investigation cites young people, aged 17–21, as perpetrating 23.4 percent of the crimes in the state.[3]
It is no coincidence that those who cannot find work tend to find things that get them into trouble to fill their time. I argue that enactment of a living wage would only put more young people on the streets rather than in jobs where they can learn skills that will serve them well in the future.
Not only is this lack of work bad for young people and other low-skilled workers, but it also hurts the local economy. Due to the higher mandated wage, jobs that are not worth this wage will no longer be performed legally in the community. Trash pickup, general cleaning, inexpensive food preparation, farming, and many other tasks would be either neglected or moved to places with lower wage costs.
This general lack of production would not be due to people's lack of desire to do the work, but to government's intervention, which would keep the tasks from being done on the grounds that their monetary value doesn't fit with the social agenda. It may seem desirable to keep people from working for too little money, but keeping people who want those jobs out of work is both an attack on liberty and a mistake in economics."
"Standards of living do not increase with wages, but rather with production. Society needs people to produce at any wage, and then prices will reflect the wages being earned for a given task. Once we look at the living-wage law from the point of view of someone who loses his or her job (as opposed to someone who gets a raise), we see its ugly side.
Ultimately, a living wage in Athens (or anywhere) will actually hurt the poor rather than helping them. It will decrease production, increase counterproductive activity for the least skilled, and increase prices for the entire population. Cities like Athens should encourage work instead, by minimizing regulations on labor and allowing everyone's standard of living to increase with unadulterated production."
Witness the Freest Economy: the Internet - Dan O'Connor - Mises Institute
Witness the Freest Economy: the Internet - Dan O'Connor - Mises Institute: "In fact, it's such a free market that government doesn't even effectively enforce intellectual property and copyright protection. And what is the result? We see entrepreneurs from other countries imitating successful online programs with very little detriment to the originators. In fact, Chinese entrepreneurs have created very similar programs to both Google and Facebook. As a result, all of these companies have been able to generate profits while their users still enjoy the programs at no cost.
In turn, their Chinese competitors bring increased competition to both Google and Facebook, creating incentives for them to improve their own products and continue to innovate. This example closely resembles capitalist Americans emulating European technology in the 19th century or Japanese entrepreneurs emulating Western technology during the process of their development.
Do patent protection laws truly promote greater and faster innovation? Some companies and individuals are able to avert these government-imposed rigidities online. And the success of this less-inhibited marketplace demonstrates the lack of need for patent protection laws."
"For example, in the past, some families spent several hundred dollars every few years just to update their encyclopedia set, even though all of the content in these encyclopedias was publicly accessible; the encyclopedia companies merely compiled the information into a more concise format.
Although these companies provided a very valuable product to society, there is now a decreased need for physical encyclopedias due to the increase of information available on the internet. Let us hope the Obama administration does not attempt to 'bailout' Britannica anytime soon."
In turn, their Chinese competitors bring increased competition to both Google and Facebook, creating incentives for them to improve their own products and continue to innovate. This example closely resembles capitalist Americans emulating European technology in the 19th century or Japanese entrepreneurs emulating Western technology during the process of their development.
Do patent protection laws truly promote greater and faster innovation? Some companies and individuals are able to avert these government-imposed rigidities online. And the success of this less-inhibited marketplace demonstrates the lack of need for patent protection laws."
"For example, in the past, some families spent several hundred dollars every few years just to update their encyclopedia set, even though all of the content in these encyclopedias was publicly accessible; the encyclopedia companies merely compiled the information into a more concise format.
Although these companies provided a very valuable product to society, there is now a decreased need for physical encyclopedias due to the increase of information available on the internet. Let us hope the Obama administration does not attempt to 'bailout' Britannica anytime soon."
No Such Thing as a Free Flu Shot - Malte Tobias Kahler - Mises Institute
No Such Thing as a Free Flu Shot - Malte Tobias Kahler - Mises Institute: "Before the fact, one cannot be certain about whether or not the medicine will fulfill its aim. The problem here is that during an epidemic there is just not enough time for long-term studies, which could prove the safety of the product in question."
Political Mailing Lists: Rep. Kitty Rhoades eUpdate. October 16, 2009.
Political Mailing Lists: Rep. Kitty Rhoades eUpdate. October 16, 2009.: "According to the [WI] ARRA report, a total of 8,284 jobs have either been created or retained with the spent $679.85 million. (That is roughly $82,067.84 for every retained or created job, in case you don’t have a calculator nearby…)"
"what caught my eye is the reference to point on 6,100 essential police officers, firefighters and teachers. The money Wisconsin receives from the ARRA is one-time cash. That means once the money is used it will be up to either the state or the local government to fill the void of the spent ARRA money."
"what caught my eye is the reference to point on 6,100 essential police officers, firefighters and teachers. The money Wisconsin receives from the ARRA is one-time cash. That means once the money is used it will be up to either the state or the local government to fill the void of the spent ARRA money."
Klaus Is Right | Marian L. Tupy | Cato Institute: Commentary
Klaus Is Right | Marian L. Tupy | Cato Institute: Commentary: "The European Court of Auditors has refused to certify the EU budget for 14 years in a row. Yet no visible action has been taken to make EU accounting more transparent."
Year After TARP: $700 Billion Down the Drain - Randall G. Holcombe - Mises Institute
Year After TARP: $700 Billion Down the Drain - Randall G. Holcombe - Mises Institute: "It is easy to say the program wasn't necessary, despite Paulson's arguments, because the TARP money wasn't used to buy toxic assets. TARP money was instead used to buy preferred stock in banks, shoring up their balance sheets by giving the federal government part ownership of the banks.
Nine of the largest banks were forced to issue stock to the Treasury, paid for with TARP money, even though several of the banks tried to opt out. Secretary Paulson said that if some of the big banks participated and others didn't, it would identify their varying levels of weakness, which Paulson believed was undesirable.
Instead of buying up toxic assets, the TARP money was used to partially nationalize the banking industry. It was also used for a federal takeover of AIG (after it was initially rescued by the Fed) and the bailout of Chrysler and General Motors."
(Accompanying graph shows that commercial and industrial loans dropped when TARP passed.)
Nine of the largest banks were forced to issue stock to the Treasury, paid for with TARP money, even though several of the banks tried to opt out. Secretary Paulson said that if some of the big banks participated and others didn't, it would identify their varying levels of weakness, which Paulson believed was undesirable.
Instead of buying up toxic assets, the TARP money was used to partially nationalize the banking industry. It was also used for a federal takeover of AIG (after it was initially rescued by the Fed) and the bailout of Chrysler and General Motors."
(Accompanying graph shows that commercial and industrial loans dropped when TARP passed.)
Social Security's Coming Crash: The Certain End of Entitlement | Doug Bandow | Cato Institute: Commentary
Social Security's Coming Crash: The Certain End of Entitlement | Doug Bandow | Cato Institute: Commentary: "U.S. GDP is about $14 trillion. One year of economic output already is committed to paying off the national debt, which is now above $12 trillion and climbing fast."
"Finally, there are Social Security and Medicare. Together, they have about $107 trillion in 'unfunded liabilities.' In real-people-speak, that is the difference between promised benefits and expected revenues. That amounts to about eight years of America's economic production and twice the world's annual GDP."
"Even before last fall's financial crash, then-comptroller general David M. Walker warned, 'The only thing the United States is able to do a little after 2040 is pay interest on massive and growing federal debt. The model blows up in the mid-2040s.'"
"Last fall's stock-market collapse demonstrates that private markets offer no guarantees. But that uncertainty should be contrasted with the certain bad deal from the federal government. Moreover, the return on private investment has remained well above the levels for Social Security even when measured against major stock-market downturns. The rate of return was over three percent annually, handily beating Social Security's return these days, for even the worst 20-year period in American history, which encompasses the Great Depression."
"Finally, there are Social Security and Medicare. Together, they have about $107 trillion in 'unfunded liabilities.' In real-people-speak, that is the difference between promised benefits and expected revenues. That amounts to about eight years of America's economic production and twice the world's annual GDP."
"Even before last fall's financial crash, then-comptroller general David M. Walker warned, 'The only thing the United States is able to do a little after 2040 is pay interest on massive and growing federal debt. The model blows up in the mid-2040s.'"
"Last fall's stock-market collapse demonstrates that private markets offer no guarantees. But that uncertainty should be contrasted with the certain bad deal from the federal government. Moreover, the return on private investment has remained well above the levels for Social Security even when measured against major stock-market downturns. The rate of return was over three percent annually, handily beating Social Security's return these days, for even the worst 20-year period in American history, which encompasses the Great Depression."
Market Power - The Mistake of Subsidizing Pet Energy Causes | Jerry Taylor and Peter Van Doren | Cato Institute: Commentary
Market Power - The Mistake of Subsidizing Pet Energy Causes | Jerry Taylor and Peter Van Doren | Cato Institute: Commentary: "The story most conservatives tell about energy policy is different from the stories they tell about other economic-policy matters. Rather than defend free markets, they bang the table about the need for national energy plans and government timetables for energy-plant construction. (For example, see Lamar Alexander elsewhere in this issue.) We're told that markets will fail to provide the energy we need, fail to prevent demand for energy from surging beyond reason, and fail to attain suchimportant objectives as environmental quality and a strong national defense.
The conservative case for government intervention in energy markets is just as flimsy as the liberal case for government intervention in any other sector of the economy. Energy markets may not work as perfectly as in a textbook model, but they work — and government works even less perfectly."
"Most conservatives seem to believe that a reduction in imports will insulate us from price shocks caused by developments overseas. That is nonsense. A supply disruption anywhere will increase the price of crude oil everywhere for the same reason that an early frost in Florida will increase the price of citrus produced in Florida and California by roughly the same amount."
"Others fear that reliance on imports requires us to undertake military commitments to ensure that oil continues to flow. But producers have even more reason to worry about the safety of their facilities than we do and, likewise, more reason to ensure the security of international oil-shipping lanes. Hence, they have every incentive to defend their oil infrastructure, whether we help foot the bill or not."
"Consider the current love affair of the Right with "clean coal" technology. Billions of federal tax dollars have been spent since the 1980s on various iterations of this concept — most recently via George W. Bush's "FutureGen" project and the "Clean Coal Power Initiative" — yet the marketplace has not been friendly to new coal plants. From 2001 through 2007, 179,382 megawatts of natural-gas-fired electric generators were added, but only 3,311 megawatts of coal-fired generation capacity came online.
It's not that we don't know how to make coal facilities cleaner — it's that we don't know how to make coal plants both cleaner and profitable. Throwing more tax money at this riddle will not necessarily produce an answer. Why are conservatives doubling down on the same ill-fated taxpayer adventure that Ronald Reagan labored so mightily to kill in the 1980s?"
"Despite promises in the 1950s that nuclear power would soon become "too cheap to meter," 50 years of lavish federal subsidies and regulatory preferences have yet to produce an industry that can turn a profit without taxpayer help."
The conservative case for government intervention in energy markets is just as flimsy as the liberal case for government intervention in any other sector of the economy. Energy markets may not work as perfectly as in a textbook model, but they work — and government works even less perfectly."
"Most conservatives seem to believe that a reduction in imports will insulate us from price shocks caused by developments overseas. That is nonsense. A supply disruption anywhere will increase the price of crude oil everywhere for the same reason that an early frost in Florida will increase the price of citrus produced in Florida and California by roughly the same amount."
"Others fear that reliance on imports requires us to undertake military commitments to ensure that oil continues to flow. But producers have even more reason to worry about the safety of their facilities than we do and, likewise, more reason to ensure the security of international oil-shipping lanes. Hence, they have every incentive to defend their oil infrastructure, whether we help foot the bill or not."
"Consider the current love affair of the Right with "clean coal" technology. Billions of federal tax dollars have been spent since the 1980s on various iterations of this concept — most recently via George W. Bush's "FutureGen" project and the "Clean Coal Power Initiative" — yet the marketplace has not been friendly to new coal plants. From 2001 through 2007, 179,382 megawatts of natural-gas-fired electric generators were added, but only 3,311 megawatts of coal-fired generation capacity came online.
It's not that we don't know how to make coal facilities cleaner — it's that we don't know how to make coal plants both cleaner and profitable. Throwing more tax money at this riddle will not necessarily produce an answer. Why are conservatives doubling down on the same ill-fated taxpayer adventure that Ronald Reagan labored so mightily to kill in the 1980s?"
"Despite promises in the 1950s that nuclear power would soon become "too cheap to meter," 50 years of lavish federal subsidies and regulatory preferences have yet to produce an industry that can turn a profit without taxpayer help."
Ford Reports Surprise $1 Billion 3Q Profit - Local News | News Articles | National News | US News - FOXNews.com
Ford Reports Surprise $1 Billion 3Q Profit - Local News | News Articles | National News | US News - FOXNews.com: "Ford also has benefited from consumer goodwill after it declined government bailout money and didn't go into bankruptcy over the summer as GM and Chrysler did. Ford grabbed sales from its rivals, posting the largest increase in market share of any automaker in September. Ford expects an overall gain in U.S. market share in 2009, a feat it hasn't accomplished since 1995."
Study: File sharers spend more money on music | Technically Incorrect - CNET News
Study: File sharers spend more money on music | Technically Incorrect - CNET News: "This survey found that 10 percent of the respondents, age range 16-50, admitted illegal downloading. But what might have been instructive would have been to learn just how much music people bought for their average of 77 pounds (around $120) per month and how they made their choice as to what should be bought and what should merely be, um, borrowed."
Subscribe to:
Posts (Atom)