Category Archives: Business

Business, Economics, Media Criticism, Political Commentary

Class Warrior

10 Comments

Barack Obama won’t triangulate, because he can’t:

That Monday tax deal had to be the worst day of Barack Obama’s presidency. I’d be surprised if this most insouciant of presidents was able to sleep Monday after the statement he issued at the White House about the deal. That was no mere statement. It was a class warrior’s cry from the heart.

He lashed “the wealthiest Americans” three times, not to mention “the wealthiest 2% of Americans,” “tax cuts to millionaires and billionaires,” “wealthy people” and—channeling the French revolution—”the wealthiest estates.” (Louisiana Democratic Sen. Mary Landrieu, answering the party’s casting call for the role of Madame Defarge, denounced the deal as “morally corrupt.” Keep her away from knitting needles.)

I don’t buy that all this was said as a sop to the angry left. One month into his presidency, the Obama budget message repeatedly ripped into “those at the commanding heights of our economy.” When at the White House Monday Mr. Obama suggested his next campaign will be “a conversation with the American people” about ending those rates (35%!) for “wealthy people,” I take him at his word. He won’t be at peace until this violation is erased.

…Will the nation’s new economic royalists step forward, rope in hand, to produce enough economic activity to help Mr. Obama to a second term of retribution? Maybe not. According to the National Association of Manufacturers, some 70% of manufacturing concerns in the U.S. have owners whose business is taxed at the individual rate (S corporations and the like). These are the people expected to commit capital to new hires and equipment.

But if an angry, let-me-be-clear Barack Obama just looked into the cameras and said he’s coming to get you in two years, what rational economic choice would you make? Spend the profit or gains 2011 might produce on new workers, or bury any new income in the backyard until the 2012 presidential clouds clear?

No matter how much economic bump Mr. Obama gets in 2011 from extending the Bush-era tax rates, the 2012 election will be fought over a deep national anxiety that he rightly identifies but misinterprets.

I don’t think he’ll be able to fool the people again in 2012, at least not enough to get reelected. Now they understand what he meant in his brief conversation with Joe the Plumber, and they understand what it means to elect a Marxist.

[Update a couple minutes later]

It’s too late for a “third way.”

Business, Political Commentary, Space

A One-Two Punch At Orion

48 Comments

In October in Las Cruces, Bob Bigelow, with the Lockmart rep sitting next to him on the podium, made it clear in no uncertain terms that he considered Orion unnecessary and the wrong solution for BEO exploration. Today, at the NASA/SpaceX presser, Elon essentially compared Dragon to Orion and found the latter wanting, with less capability (at least in terms of thermal protection) than the former, and more than an order of magnitude difference in cost. I wonder if anyone in Congress will be paying attention to this next year when it’s time to get out the knives for the rescission bills? Lockmart is clearly worried about it, which is why they came up with the 2013 Delta IV launch demo.

[Update a few minutes later]

Clark Lindsey has transcribed highlights from the press conference, and has a roundup of links on the flight.

Administrative, Business, Space

Of All The Times To Lose My Internet Connection

32 Comments

I got up this morning, and had no bandwidth, so I missed the SpaceX webcast, but I watched the launch on Fox News. Poking around some, now that I’m back on line, I see that they went into orbit. I’m assuming that it was a clean insertion (no unanticipated roll, as there was in June). Now comes the fun part. It’s supposed to do just a couple orbits, so it should be entering and coming down in the Pacific late morning, PST. Congratulations to SpaceX on mission success to date.

[Update at 9:17 PST]

Alan Boyle has a story. I’ll probably have one at AOL News later, but I want to wait to see how the entry/recovery goes (by the way, one of my pet peeves is the word “reenter,” which everyone uses, but implies that it has entered before — only the Shuttle has ever done that…).

[Update a few minutes later]

At the request of a commenter, here’s one of the first Youtubes out.

[Update shortly after deorbit burn]

Here’s more video.

OK, I’m hearing that drogue and all three main chutes have deployed. Still no word on first-stage recovery. Anyone else heard anything?

Business, Space

The Latest From SpaceX

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I just got an email from Stephanie Bednarek:

The demonstration launch of SpaceX’s Falcon 9 rocket and Dragon spacecraft has been rescheduled for no earlier than Wednesday, December 8. The delay is due to a crack in the engine nozzle on the rocket’s second Stage that was discovered during a routine review of close-out photos of the rocket on Monday. More information on the launch schedule will be announced when available.

This will be the first-ever test flight of a Dragon spacecraft, an entirely new spacecraft designed in the last decade, and only the second test flight of the Falcon 9 launch vehicle. It also marks the first time a commercial company is attempting to re-enter a spacecraft from orbit. As noted in a recent Wall Street Journal Article:

“Placing the vehicle into a such an orbit at speeds exceeding 17,000 miles per hour, then maneuvering through a fiery reentry and splashdown in the Pacific Ocean will require a flawless trajectory, a reliable heat shield and finally, perfect operation of the redundant parachutes.”

This will also be the first flight under NASA’s Commercial Orbital Transportation Services (COTS) program to develop commercial supply services to the International Space Station. After the Space Shuttle retires, SpaceX will fly at least 12 missions to carry cargo to and from the International Space Station as part of the Commercial Resupply Services contract for NASA. The Falcon 9 rocket and Dragon spacecraft were designed to one day carry astronauts; both the COTS and CRS missions will yield valuable flight experience toward this goal. An informational fact sheet on the COTS program is attached for your reference.

This has been a strong government-commercial partnership. SpaceX has only come this far by building upon the incredible achievements of NASA, having NASA as an anchor tenant for launch, and receiving expert advice and mentorship throughout the development process. With the savings NASA will see by using SpaceX for low-Earth transportation, billions of dollars are freed up for other activities such as accelerating exploration efforts that go beyond low-Earth orbit, advanced telescopes and Earth science missions.

SpaceX plans to broadcast the entire launch live at www.spacex.com. NASA TV will also provide coverage.

So, it could still happen tomorrow. Best of luck.

Business, Economics, Political Commentary

Res Ipsa Loquitur

9 Comments

Well, not entirely. Ed Morrissey has some thoughts.

This is what happens when you put in place either economic incompetents, people who actively want to wreck the economy for their own political ends, or both. There are, after all, people who would rather rule in Hell than serve in Heaven.

[Update a few minutes later]

Liberal math:

John Kerry was extolling the stimulus effects of unemployment benefits, as in more money returns to the economy for each dollar paid out to the unemployed. If so, why not simply put us all on unemployment benefits and watch the economy grow?

Or perhaps Kerry could advocate a national boat sales tax to collect the sort of revenue that he so carefully had tried to avoid. Or perhaps he might look carefully at zillionaire family trusts and the billions they divert from the strapped federal Treasury. Or perhaps he could take away the tax deductions on third or fourth homes above a certain square footage, maybe ending the deduction for property taxes on multiple homes?

My point? Why do Democrats always go after the orthodontist, electrical contractor, or insurance agency owner, and never the Buffetts, Kerrys, or Gateses? Bill Gates and Warren Buffett will defer more money from the federal Treasury by avoiding inheritance taxes (to channel their profits into their foundations) than all the billions lost this year by keeping tax cuts for small businesses.

Part of the problem is that these new aristocrats aren’t really liberals.