Category Archives: Business

The Argument Never Ends

Keynes versus Hayek. Of course, it’s never an argument about how best to revive an economy — it’s an argument about how to either maximize government power, or to liberate the people from an overspending, overtaxing tyrant.

[Update a few minutes later]

Lynne Kiesling has more thoughts:

This theme of “economic control becomes political control” is crucial to making sense of the corporatist nature of political activity, and why regulation is so pernicious for individual well-being and liberty.

Hayek is, if not one of the first to make this connection, certainly the most prominent early proponent.

It Just Makes You Want To Cry

Here we go again. No one at this American Thinker piece, neither the author or any of the commenters, has clue one about the new policy:

Now, with the Obama administration’s new “plan” for NASA effectively ending nationally funded human spaceflight, we drop a torch others are grabbing.

Where do they come up with this nonsense? How can one sanely characterize a policy that extends ISS until at least the end of the decade, and that has billions of dollars budgeted to buy crew services, as “ending nationally funded human spaceflight”?

NASA has long been planning to cancel the Shuttle program, which is understandable, considering budget constraints and the priority of the Constellation program. But to cancel both programs leaves the U.S. with no viable human space transport. The International Space Station, which represents a $100-billion investment by U.S. taxpayers, will be unreachable by scientists and astronauts from the U.S. without hitching a ride on Russian or Chinese space transport. This is unacceptable.

Or from commercial American services, which will be available much sooner than Ares/Orion. And later, he finally gets around to discussing this:

With the ending of the Constellation program, there are no future human missions for the U.S., except those made possible in commercial spaceflight. While commercial spaceflight is tremendous in its future implications, it will progress only in areas that have demonstrated a possible fiscal return…and space operations are so expensive and difficult that it is highly unlikely that any true exploration would occur. Commercial space flight is space exploitation, not space exploration. For the foreseeable future, an entity like NASA — which is nationally funded and not constrained by profits and losses — and a project such as Constellation is the best way to extend our reach into and knowledge of space. Robotic missions are all well and good for certain applications, but one does not learn anything about putting humans in space by putting robotic vehicles in space.

Sigh…

Where to start?

Look. We are simply transitioning from a mode in which NASA develops and operates its own earth-to-orbit vehicles to spec, to one in which it purchases transportation services to LEO for crew from private providers, as it has been doing for years for satellites and probes. No one said that NASA was “getting out of the planetary exploration business” when it launched LRO and LCROSS on a commercial Atlas, and if they had they would have rightly been considered insane. Why is it any different for astronauts?

Exploration starts when we get into LEO, not at Cape Canaveral.

And you cannot simultaneously know anything about Constellation and state that it is “the best way to extend our reach into and knowledge of space.” Constellation was a fiscal disaster waiting to happen. It was unaffordable both in terms of its development costs, and its operational costs. There are many better ways to accomplish that goal. The new policy is one of them.

Jeebus crow.

The Coming Depression

A cheery interview with Vox Day:

The dirty little secret of politics is that most politicians are of barely above average intelligence and possess very narrow educations. They’re mostly people with IQs of around 120 and a law degree. So, they know literally nothing about economics and lack the capacity to see that what the experts are telling them doesn’t add up. Given those circumstances, it should come as no surprise that they so readily embrace the economic theory that tells them exactly what they want to hear. “Go, thou, and spend, and thus shalt the economy be saved. And lo, thou shalt be the savior of thy people!” That’s a lot more palatable than being told that the nation is in dire straits and their careers are in jeopardy due to the actions of their predecessors, and that there’s not much they can do about it. So, they listen to the self-interested parties and blindly go about making the situation worse.

I think that he overestimates the intelligence of the narrowly educated lawyer/politicians. Particularly the one in the White House.

An Oil-Spill To-Do List

I’m sure that the president will get right on it, just as soon as he finishes his latest round of golf.

You know, I’ll bet that Bobby Jindal hasn’t hit the links once in the past couple months.

One of the most insane things is the EPA not allowing the ships to clean the water, because they only remove ninety-plus percent of the oil. This is bureaucracy run amok. The president could fix it with the stroke of a pen. I wonder why he doesn’t?

Jim Moron

The Virginia Congressman, just having beamed in from some other planet, says “the economy has recovered“:

In fact, in the last six months more jobs were created than Bush was able to generate in eight years, Chris. People don’t understand that, the economy has recovered.

Guess he picked a bad week to keep huffing glue.

Meanwhile, back on Planet Earth, Rick Santelli goes off on another righteous rant, and says to “stop spending.”

Here’s to that. Hope it stirs the folks up again, though he should have waited until closer to November. Of course, I suspect there’s plenty more where that came from.