BlogThis!

One of my all time favorite actors, Dennis Hopper is dead.


BlogThis!

Father of Modern Finance Weighs In - CNBC.com

A wonderful interview with University of Chicago professor Eugene Fama. Efficient markets, role of capitalism, regulation and a host of other issues are discussed simply and succinctly.

We’re too broke to be this stupid - Mark Steyn, Opinion - Macleans.ca

The always pointed writing of Mark Steyn argues that we can longer afford to spend money stupidly. People have argued that wealthy nations can spend extraordinary sums of money to some difficult social problems irrespective of its effectiveness. The metaphor of the 'leaky bucket' solution as proffered by economist Arthur Okun argues that irrespective of the effectiveness of government intervention, it still has to be offered. He said.....

"The money must be carried from the rich to the poor in a leaky bucket. Some of it will simply disappear in transit, so the poor will not receive all the money that is taken from the rich."

Modern times (post WWII), unlike the past when people had to get their hands 'dirty' in working on the problems themselves through their communities, families and churches, Steyn argues that modern societies wipe their hands of these problems by fobbing them off on government....

So the easiest “solution” to the problem is to throw public money at it. You know how it is when you’re at the mall and someone rattles a collection box under your nose and you’re not sure where it’s going but it’s probably for Darfur or Rwanda or Hoogivsastan. Whatever. You’re dropping a buck or two in the tin for the privilege of not having to think about it.

I think that the problem goes even deeper than this. Wealth is created through work and savings. As the book, the millionaire next door found, millionaires are created by these following general:

Spend Less Than You Earn
Avoid Buying Status Objects or Leading a Status Lifestyle
Prodigious Accumulators of Wealth Are Willing to Take Risk if it is Worth the Reward
Economic Outpatient Care- spending large amounts of money on family consumption
Spending Tomorrow’s Cash Today- borrowing

There is a connection between being able to accumulate wealth and these practices. However, the nation, as a whole, eschews these principles and is engaged in Economic Outpatient Care, in such as large scale, coupled with spending more than is earned that will ultimately destroy wealth and make any nation engaged in these practices to no longer be wealthy.


We’re too broke to be this stupid - Mark Steyn, Opinion - Macleans.ca

More wonderful motivationals....

Freight Trains Double Fuel Efficiency Since 1980 : Gas 2.0

Without government dictates, through competitive forces and the need to continuously become more efficient and effective, railroads in the US have increased fuel efficiency over the last 30 years by more than 100%. Why have they done this? In order to compete and to grow profits, railroads have invested in new technologies, such as software to move goods through their systems more efficiently and a host of other initiatives. Additionally, these efficiency measures also reduce the costs to consumers and other businesses of moving goods around.

This is what unfettered capitalism IS all about.


Freight Trains Double Fuel Efficiency Since 1980 : Gas 2.0

Read this.

"The road of good intentions is riddled with the bodies of government failure."

-Glenzo, 2010-

Marx, Keynes, Pelosi | The Weekly Standard

Marx, Keynes, Pelosi | The Weekly Standard

Its long but it covers lots of excellent topics.....

If you have interest in inflation, the expanding government deficit or what the future of American business is, this is worthwhile to watch.

Thailand: Will It Be Civil War?

If it smells like war, tastes like and sounds like war, then its war. Thailand seems to be descending into chaos as it becomes impossible for the 'Red Shirts' to back down from their demands and the physical encampments that they have set up in central Bangkok....

Bangkok is 10 weeks and more than 60 deaths into a stand-off between the military-backed government and a faction of self-proclaimed "commoners" -- the Red Shirts -- that insists the ruling party must fall.

In recent days, the army has resorted to picking off protesters (the top brass calls them "terrorists") with sniper rifles from afar. But the Red Shirts have defended their encampment: two-square miles of Bangkok's priciest real estate, fortified with concertina wire and bamboo staves.

As Bangkok slips further into chaos, it's unclear if even the Red Shirt guiding statesmen can turn back the legions of Thai men (and some women) wading into near suicidal combat.

The amazing thing about this conflict and others that are taking place around the world like those protests in Greece, is that no one can blame them on the United States.

Thailand: Will It Be Civil War? - International - The Atlantic

Romancing the state

In the US, there is supposed to be a division between church and state, but for many, the state is becoming a religion for them. I have always been amazed at individual's, including those that I share dna with, unending faith in government. Its a faith that should be reserved for the creator but one that has made Renfields out of even those that still worship. They pray but are now serving the evil one, too.

And as I have argued numerous times, government as a surrogate for community, family and personal responsibility and the reliance upon state to to meet these normal human needs, creates weaker communities, families and people. As this fellow argues.....

linked the growth of our statist religion to the decline of family and traditional religious faith. Strong families tend to be less hungry for the smothering embrace of maternal government, as illegitimacy is one of the major causes of desperate poverty.

We can no longer afford the indulgence of an incompetent state to meet so many ordinary needs of the American family, individual, community and spiritual. What are these people thinking?

Hot Air » Romancing the state

The Ballad of Narayama Movie Reviews, Pictures - Rotten Tomatoes

The Ballad of Narayama Movie Reviews, Pictures - Rotten Tomatoes

Muslim joke of the day.....

Years ago it was suggested "that an apple a day kept the doctor away" But since all the doctors are now Muslim, I've found that a bacon sandwich works even better!

Makes sense....

But I amazed that a common sense politician is coming from solid blue state New Jersey. Could Americans actually be fed up with socialism? Nahhhhh.

7 most important things that men need to remember to make their woman happy.....

It's important a man helps you around the house & has a job,
important a man makes you laugh & happy,
important that you can count on him & he doesn't lie to you,
important that the man loves you & spoils you,
important that he will wine, dine & sweet talk you,
important that a man can let you have your own time & space when you need it,
it's VERY important that these 6 men don't know each other.

US faces same problems as Greece, says Bank of England – Telegraph Blogs

US faces same problems as Greece, says Bank of England – Telegraph Blogs

Here is something to help make Obama's speeches almost tolerable. Just print out this page - distribute it to friends. (be sure to read directions at the bottom)



Rules for Bullshit Bingo:
1. Before Barrack Obama's next televised speech, print your "Bullshit Bingo"
2. Check off the appropriate block when you hear one of those words/phrases.
3. When you get five blocks horizontally, vertically, or diagonally, stand up and shout "BULLSHIT!"

Testimonials from past satisfied "Bullshit Bingo" players:

"I had been listening to the speech for only five minutes when I won." - Jack W., Boston

"My attention span during speeches has improved dramatically." - David D., Florida

"What a gas! Speeches will never be the same for me after my first win." - Bill R., New York City

“The atmosphere was tense in the last speech as 14 of us waited for the fifth box." - Ben G.,Denver

YouTube - Sweden's March Towards Capitalism: Economist Andreas Bergh on the "Capitalist Welfare State"

YouTube - Sweden's March Towards Capitalism: Economist Andreas Bergh on the "Capitalist Welfare State"

Red Skelton's Pledge of Allegiance | Put Christ Back Into Schools | Causes

Red Skelton's Pledge of Allegiance | Put Christ Back Into Schools | Causes

More Muslim nonsence....

American Muslims support violent anti-Israel terrorist groups. Its just bad bad bad.

Strange article of the day....

Working 10 Hours or More a Day Raises Heart Risk, Study Finds

Working 10 hours or more a day may harm the heart, according to a study of more than 10,000 British civil servants.

People who added three or more hours to a seven-hour day had a 60 percent greater risk of heart attack, angina and death from cardiovascular disease than those with no overtime work, researchers from the U.K., Finland and France reported today in the European Heart Journal. The findings are from the Whitehall II study, which has tracked British civil servants since 1985.

From here. British civil servants working 10 hours a day? Come on. How did they possibly find a statistically significant sample in order to do the study? And some of the researchers were from France and there is no way they could find a sample there since those people NEVER work. My experience with most British employees is that there is little risk that they will work more than 7 hours a day. Moreover, they are one of the groups that ALWAYS take all of their sick days too and use them as holidays. Maybe its something more than working 10 hours. If some British employee is in the office for a 10 hour period, chances are that they will be out to lunch for 2 or 3 hours of that time getting hammered with 4 or 5 pints. If one does this regularly, then the casual relationship isn't the work but the 4 or 5 pints of beer.

Greek Bailouts: What Are They Good For? - Business - The Atlantic

I read this, just now and it kind of scares me.....

I'm glad, of course, that Greece is not triggering a second round of global financial crisis. But this doesn't solve any of the core problems that Greece has, which are:

1. A monetary policy wildly unsuited to its economy
2. A rapidly aging population which expects to be taken care of by fewer-and-fewer young people
3. A massive tax compliance problem
4. Government employees who think that their jobs and benefits are not merely a good thing for them to have, but something akin to a natural right
5. A long history of fiscal shenanigans

The reason that it scares me is almost every government on the face of the planet is living beyond the means of the people. No one can argue the United States is any different than Greece has been. Best of luck!!!!


Greek Bailouts: What Are They Good For? - Business - The Atlantic

Not plannign to pay your taxes?

They know who you are, where you live and much more than you think......

THE COWBOY AND ST. PETER.....

A cowboy appeared before St. Peter at the Pearly Gates. 'Have you ever done anything of particular merit?' St. Peter asked.

'Well, I can think of one thing,' the cowboy offered.

'On a trip to the Black Hills out in South Dakota, I came upon a gang of bikers who were threatening a young woman. I directed them to leave her alone, but they wouldn't listen. So, I approached the largest and most tattooed biker and smacked him in the face, kicked his bike over, ripped out his nose ring, and threw it on the ground. I yelled, 'Now, back off or I'll kick the s - - t out of all of you!'

St. Peter was impressed, 'When did this happen?'

'Couple of minutes ago.'

POSTELL: Constitution in decline - Washington Times

POSTELL: Constitution in decline - Washington Times

U.S. Debt Shock May Hit In 2018, Maybe As Soon As 2013: Moody's - IBD - Investors.com

This article says that the rating agencies are looking at a statistic, interest on debt as a percent of tax revenues, as one of the key determinant of setting the quality rating of United States government debt. Interest on debt will grow from below 10% to more than 20% in a very short period of time. This is the slippery slope since these numbers assume that that there will not be a change in the economic growth trajectory of nation as whole given profligate government spending that promises of massive future increases taxes that may squeeze the ability of the nation to create and grow. I do not foresee an ability of the nation to extract itself from this pathway as government is not longer in the business of governing but in the business of taxing and redistributing wealth as elected officials see fit.

I think that the nation will hit the debt wall well before the rating agencies get around to downgrading the nations debt quality rating. One morning we will wake up and realize that the market is much bigger than any government has the ability to control.

The nearly 80 year mandate creep from being a government to being a Utopian wealth redistribution mechanism will eventually create an untenable condition where either entitlement promises will be broken or taxes will rise to destructive levels. It will no longer be the America that was so successful in the past but one where different groups will be demanding their piece of the pie that will be distributed from the central government Komissar. Its a worthless way of living.

U.S. Debt Shock May Hit In 2018, Maybe As Soon As 2013: Moody's - IBD - Investors.com

Just in case you missed them, Scarlett Johansson Pictures......

Jumping in Pools: Scarlett Johansson Pictures

The Greek Crisis Is A Demographics Wake-Up Call

As I have argued for quite sometime, 20th century European style socialism was a demographic indulgence as illustrated by the graphs in the article linked below. This person also states what I have been concerned about (the bold is mine).....

The Greek crisis and the populist backlash are a wake-up call, not just for Greece and Europe but also for the US and most other developed nations. The current government budget deficits and the overall debt burden may be frightening but they pale in comparison to the scale of unfunded liabilities for pensions and healthcare. Temporary measures for bailouts and economic stimulus packages are one thing but without drastic measures, ongoing government deficits are simply not sustainable for the simple fact that people live longer and there are not nearly enough young people joining the work force to generate sufficient government revenues and to support the growing unfunded liabilities.

The current problems in Europe is just the tip of the iceberg. There will be more and more troubles with government transfer payments and the paygo nature of these payments. Paygo being that the promises are unfunded and are met by paying as we go along. This was a demographic indulgence where small populations were supported by large populations of working folks. This will no longer be the case as the baby boomers reach ages where they become entitled to these payments and benefits.

Governments will be unable to pay for these obligations given current taxes and promises of confiscatory taxes in the future will suppress both economic vitality and reduce investment in innovation as investment and work will be taxed at increasing rates.

The Greek Crisis Is A Demographics Wake-Up Call

TaxProf Blog: CNN: ObamaCare's Massive, Hidden Tax Change

The healthcare bill had embedded in it a structure to implement a VAT tax in the US....

The bill makes two key changes to how 1099s are used. First, it expands their scope by using them to track payments not only for services but also for tangible goods. Plus, it requires that 1099s be issued not just to individuals, but also to corporations.

So, this bill that was supposed to be about providing affordable healthcare to all Americans, also had other interesting things not even associated with healthcare in it. It is also preparing the nation for even more taxes and not necessarily taxes that are designed to raise funds for profligate healthcare spending but just to raise general revenue to feed the fantastic central government spending machine. The US is on the path toward European style socialism, a socialism that is in process of collapsing as indicated by the problems in Greece and bad situations forming in Portugal, Ireland and Spain. European and American socialism over the past decades has been a failure. If it was designed to achieve equality of outcome, it has not done that. If it was designed to achieve fairness, what is objective fairness? Socialism in Western nations since WWII has been an demographic indulgence based upon a large number of relatively healthy baby-boomers supporting a much smaller number of older folks. Now that these nations no longer have this demographic indulgence, a more normalized balance between the workers and the older folks is leading to a phenomenon where promises made to people to pay for their healthcare, food, shelter and clothing in old age in return for their money paid in taxes for decades during their working years will not be met. Ha ha ha. Good luck you stooges, you think someone else is going to pay for you now. Rubes.

TaxProf Blog: CNN: ObamaCare's Massive, Hidden Tax Change

Quote of the day......

Conservatism is American history's longest dying political philosophy.

-R. Emmett Tyrrell, writer-

Few people understand what true conservative is, its not what the Republican party embraces today, unfortunately. Conservatism largest portfolio item is the support of individual Liberty. Liberty, with the implication of enjoyment of one's success and also the chances of cathartic failure has been the reason that the USA has achieved what it has over the past 230 years or so. Success flowed to those that create it and failure fell on those others that were not able to keep up.

Sign of the day.....

Times Square Car Bomb Case Widens With Arrests in Two Countries - NYTimes.com

Times Square Car Bomb Case Widens With Arrests in Two Countries - NYTimes.com

What a shock. A Pakie, albeit American, Muzzie is caught as the Tiems Square bombing suspect. What is with these people? I suspect its the religion.

Quote of the day......

"If the majority distributes among itself the things of a minority, it is evident that it will destroy the city."

-Aristotle warned in the book The Politics-