Apologists for Chavez mentor Fidel Castro blame Cuba’s sixty years of economic problems on the US embargo. If it weren’t for Uncle Sam, they say, Castro would have built a socialist paradise by now.
Venezuela is the test for this talking point. Not only is there no US embargo in Venezuela, but the country also has huge oil reserves. And what does it have? Food and medicine and foreign currency shortages.
There are very real theoretical reasons, based on fundamental human nature, why socialism doesn’t work, and empirically fails everywhere it’s tried. But it’s also human nature to wish it would work, so those ignorant or in denial of those reasons continue to try it. Or to try to defeat human nature by creating the New Soviet Man, at the point of a gun.
Stewart Money has an interesting essay on progress in understanding the risks of a Mars flight:
This most recent experience brings to mind another observation Zubrin made in The Case for Mars, once it was foreseen that the oceans could be crossed, people of the era did not wait for the advent of iron plated steamships, they raised sail and headed out into the unknown with what they had available ”iron men in wooden ships.”
Remember how if we didn’t let Obama hand out taxpayer money to his cronies like Solyndra, we’d be buying our solar panels from China? Well:
The world’s top-selling producer of solar panels has defaulted on a $541 million bond payment. The Chinese firm Suntech hasn’t posted a profit since the first quarter of 2011 and has been relying on the government of Wuxi, the city where it is headquartered, to stay solvent. But as more bills come due, this renewable energy producer is looking less and less sustainable.
Just shocking. If you’re an economic ignoramus, anyway.
Jeff Foust has an article at today’s issue of The Space Review on the recent meeting to remember the failure on the tenth anniversary, with a lot of discussion of the topics of my book.
The lawsuit filing provides a troubling description of how fraud was used to impose draconian environmental regulations on California enterprises, which is one of the many reasons why California is deemed by CEOs nationwide as the “worst place to do business”.
As he notes, “liberals” only like whistleblowers when they blow the whistle on conservatives.
Late last night, after markets closed for the weekend, following an extended discussion the European finance ministers announced their “bailout” solution for Russian oligarch depositor-haven Cyprus: a €13 billion bailout (Europe’s fifth) with a huge twist: the implementation of what has been the biggest taboo in European bailouts to date – the impairment of depositors, and a fresh, full blown escalation in the status quo’s war against savers everywhere.
This is not going to end well.
[Update late Saturday evening]
Glenn Reynolds has a lot of updates. Monday may be bloody. And Monday starts late Sunday evening on the Left Coast…