Category Archives: Business

The Know-Nothing In Chief

Fred Barnes says that it’s clear that the president is an utter economic illiterate:

Obama professes to believe in free market economics. But no one expects his policies to reflect the unfettered capitalism of a Milton Friedman. That’s too much to ask. Demonstrating a passing acquaintance with free market ideas and how they might be used to fight the recession–that’s not too much to ask.

But the president talks as if free market solutions are nonexistent, and in his mind they may be. Three weeks after taking office, he said only government “has the resources to jolt our economy back into life.” He hasn’t retreated, in words or policies, from that view.

…A good example of Obama’s economic shallowness is his unrelenting defense of the $787 billion “stimulus.” Enacted in February, it has had minimal impact on the economy. Yet Obama has no second thoughts. He says he wouldn’t change a thing about the stimulus. It has “already saved jobs and created new ones,” he said at the press conference, neglecting to note that 2 million jobs–a net 2 million–have been lost since it was passed.

That was clear even during the campaign, to those of us who are not. Unfortunately, most people (including most journalists) are in the same boat as the president.

A Space Program For The Rest Of Us

I know, you’ve all given up, and just assumed that the piece in The New Atlantis was just another drug-addled Simberg fantasy of grandeur. That when I kept saying it would be Real Soon Now, that it was just vaporware. Well, Now has finally arrived.

As I wrote in an early draft, if extraterrestrial aliens had contacted the White House after the last lunar landing in 1972, and told the president that humans wouldn’t be allowed to move into space beyond earth orbit, and to pass the message on to his successors, but that the public was not to know this, it’s hard to imagine how policy actions would have been much different. Let’s Hope that this can finally Change with the new administration. That (unlike most of the rest of the agenda) would be Hope and Change that I could believe in.

[Late Friday update]

I want to thank everyone for the kudos, but I can’t accept it (did you know that kudos is not plural?) without acknowledging that this was a collaboration. Adam Keiper, the first and only (to date) editor of The New Atlantis, encouraged me to write this piece and, more importantly, played a key role in making it what it was. While we lost some things in editing (that I’ll rectify in a later Director’s Cut, and perhaps expand into a book), he focused it and almost certainly helped make it more influential in getting more to read it now, when we are at such a critical cusp of policy decisions.

But beyond that, he really helped write it. I was tired when I finished, and had a weak ending. The final paragraph, one of the best in it, if not the best (and it may be), is his.

And I’m grateful for the opportunity that he provided to get this message out, not just with The Path Not Taken five years ago (was it really that long?) but this and other pieces. The links in it are his, which indicates to me that he’s been following this topic closely. The most amazing thing is that this collaboration is a result of a snarky criticism by me of his own space-policy punditry, over half a decade ago. Rather than taking umbrage, he opened his mind to new possibilities, and the result is this (so far at least) collaborative magnum opus.

[Bumped]

“I’ve Been Lied To”

A blue dog is shocked, shocked that his own party leadership is duplicitous:

The seven Blue Dogs on the Energy and Commerce Committee stormed out of a Friday meeting with their committee chairman, Henry Waxman (D-Calif.), saying Waxman had been negotiating in bad faith over a number of provisions Blue Dogs demanded be changed in the stalled healthcare bill.

“I’ve been lied to,” Blue Dog Coalition Co-Chairman Charlie Melancon (D-La.) said on Friday. “We have not had legitimate negotiations.

I’d have some sympathy if I didn’t think that they were so naive as to finally notice this kind of behavior.

Anyway, it’s good news for the rest of us, if the latest radical attack on freedom and the Constitution is stopped in its tracks.

Pegging The Crapometer

Andrew Klavan applies the probes to the president.

It’s not like it’s anything new. He’s been talking crap ever since he started running for president (if not his entire career). The only difference is that now, when people can compare his promises and rhetoric to his actual actions, they’re starting to really notice:

The Rasmussen Reports daily Presidential Tracking Poll for Friday shows that 30% of the nation’s voters now Strongly Approve of the way that Barack Obama is performing his role as President. Thirty-eight percent (38%) Strongly Disapprove giving Obama a Presidential Approval Index rating of -8 (see trends).

Just 25% believe that the economic stimulus package has helped the economy.

…Overall, 49% of voters say they at least somewhat approve of the President’s performance. Today marks the first time his overall approval rating has ever fallen below 50% among Likely Voters nationwide. Fifty-one percent (51%) disapprove.

I don’t see anything in sight to arrest the trend. He doesn’t seem to realize that people are starting to see through him. The only thing that has been propping him up (as it did during the campaign) is continued fawning from the media.

Why Michigan Is In Such Deep Trouble

Because it’s run by idiots:

Having required state utilities to generate 20 percent of their electricity from more expensive wind sources (a similar program in Denmark has driven power rates to 30 cents per kWh compared with Michigan’s current 8.5 cents), Democrats now may require the same utilities to cut their bills by 20 percent.

You heard that right: Granholm will require utilities to provide costlier energy — and cap the prices customers pay for it. Does anyone in the Michigan Democratic party know basic economics? They plan to artificially prop up demand at the same time as they artificially restrict supply: the only way to square that circle is to ration the product.

California, here we come! Can you say “rolling blackouts?”

Of course, it will continue until Michigan voters stop reelecting such creatures.

I find it telling that the president thinks that she’s “one of the best governors in the country.” Because he’s an economic ignoramus as well.

Because Unemployment Isn’t High Enough, Yet

Michigan Democrats want to raise the state minimum wage to ten bucks an hour. This is economically criminal behavior. It will further devastate black youth in Detroit, Flint and Saginaw. Flint’s official employment rate is almost thirty percent.

And meanwhile, the red fox has returned to Detroit. Moose won’t be far behind, if they want to walk across the Mackinac Bridge.

Some Madoff Thoughts

With this more generally applicable opening:

A rule we can rely on to be unfailingly applied is this: No matter how much the government controls the economic system, any problem will be blamed on whatever small zone of freedom that remains. This of course is evidence of a rigged game. The government can’t possibly monitor and regulate absolutely every transaction that takes place in a country. Stalin and Hitler couldn’t do it by a long shot. So anything that displeases the ruling regime can easily be laid at the doorstep of freedom and be used as an excuse for stamping out whatever traces of liberty still exist.

The other part of the rigged game is to have so many laws that it is almost impossible to get through a day without violating one or another, making every citizen a subject of the state, vulnerable at all times to prosecution on unrelated issues if she doesn’t toe the state line.