Category Archives: Business
Smarter, Not Bigger Stimulus
I have some more advice for Barack Obama that, like Joel Kotkin’s, he will be constitutionally unable to take, over at PJM today.
The Failed Stimulus
More proof that government spending doesn’t do much for job creation.
One reason unemployment continues to rise may be that stimulus funds did not target high-unemployment states.
You don’t say.
If The IRS And Medicare Had A Baby
…it would look like this.
I think that this is one of those rare cases where an abortion is the only reasonable option.
Hope And Change
…and 10.2% unemployment:
Naturally, according to the “experts” it’s more than expected.
It’s not more than I expected. I’m actually surprised it’s not worse, considering how they’ve been making war on business and vandalizing the economy in general.
NGLLC Ceremony
Clark Lindsey has a first-hand report:
Mr. Bolden, a couple of House members and a representative of the administration all said very good things about not just the NGLLC but about prizes in general and their ability to leverage lots of innovation and productivity at low cost. Got the impression that there will be more money coming for Centennial Challenges and other prize programs.
Dave Masten and Phil Eaton gave brief but eloquent remarks.
Two former NSS executive directors were there: Lori Garver, now Deputy NASA Administrator, and George Whitesides, now NASA’s Chief of Staff. With entrepreneurial firms getting big checks via an innovative program like Centennial Challenges, which was inspired by the X PRIZE, and with space advocates in NASA management, I get the feeling that the NewSpace current is starting to flow into the mainstream.
Whatever comes of the Constellation mess, this at least is encouraging.
[Mid-afternoon update]
Chuck Divine also attended, and has more details.
Advice For CA Taxpayers
Fight back against the thieves in Sacramento. Refile your state W-4 ASAP.
A Free-Market Party?
The rise of free-market populism in this country finally has manifested in an election. And judging from the hyperbolic reactions, you know it’s a political movement with staying power.
When tepid, traditional conservative candidate Doug Hoffman knocked off liberal Republican Dede Scozzafava—a candidate who was supported by nearly every boogeyman in the GOP handbook—you might have thought that the rabble had stormed the Bastille.
Sophisticated New York Times columnist Frank Rich called the event “a riotous and bloody national G.O.P. civil war” and compared the conservative surge to a murderous Stalinist purge. (Remarkably, the esteemed wordsmith failed to unleash similar histrionic language when one-time-Democrat Sen. Joe Lieberman met the same fate.)
Purging moderates is indeed a self-destructive strategy for any national party. But running a party without any litmus tests on the central issue of the economy seems to be similarly self-defeating.
The most impressive trick played by Rich and other liberals, though, is creating a narrative wherein the ones attempting to fundamentally reconfigure the American economy are cast as the moderates.
The nearly powerless who stand in their way? Well, they play the part of Stalinists.
But of course, as Orwell pointed out, the real Stalinists are the people who torture the language like Frank Rich does.
Is It 1993 Again?
…or 1938?
Democrats lost 80 seats in the 1938 election, after gaining seats in 1930, 1932, 1934 and 1936.
How did this happen? As Amity Shlaes notes in her history of the Depression, “The Forgotten Man,” Roosevelt believed less competition and high wages would heal the economy. Aided by Congress, he went about engineering those two things with a vengeance, trebling the size of the federal government in less than a decade.
At the time, such drastic action may have seemed warranted. Within three years of the 1929 crash, GDP had fallen nearly a third and a fourth of the U.S. work force was idle. Even so, the economy appeared to stabilize in 1934 and 1935, and in 1936, Democrats won landslides in both Congress and the presidency.
What happened next is a tale of overreach and hubris — one that holds lessons for today’s Democrats.
But they seem determined not to learn them. Because to do so would negate their entire world view.
A Question For Ares Supporters
Is there any amount of money that this thing could cost that would cause you to say, “OK, it’s not worth it”? Because to listen to them defend it, you’d sure think that the answer is “no.” That the only important thing is that it’s “safe,” and to hell with the cost.