Category Archives: Economics

Economics, Education, Media Criticism, Political Commentary, Social Commentary

What The Occupiers Believe And Why They Believe It

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It’s indoctrination:

During the 2008 campaign, Obama’s critics often called him a “radical,” a “socialist” or even a “Marxist” and were either dismissed as hysterics or condemned for “McCarthyism.” It was not widely noted that, for those too young to remember America’s Cold War struggle against Soviet tyranny, the accusation of “Marxism” doesn’t carry much weight, while “McCarthyism” is at most something they’ve read about in books. (Stan Evans’s Blacklisted by History probably isn’t on the collegiate reading list.) Voters who were 25 in 2008 were in first grade when the Berlin Wall came down. If they have some idea that the Soviet empire was a bad thing, they have little idea of why it was bad. And this ignorance is no accident.

To explain why the Bolshevik experiment failed so spectacularly would require that students be taught the errors of socialism, which would necessarily require an explanation of the superiority of the market economy to the socialist planned economy. And the left-wing orientation of today’s academic establishment — “Down With Capitalist Education!” to quote a sign in a protest today by Cal State university faculty — pretty much prohibits any such explanation.

Seventeen-year-olds taught that they are “the 99 percent” and that advocates of economic freedom are “f–king up our future” have not been merely miseducated, but have been quite literally indoctrinated. But as Buckley said, they would be “outraged by the suggestion” that they have not arrived at their beliefs “by independent intellectual exertion.”

These young people have not been taught Marx and Lenin. Rather, they have had their heads stuffed with nebulous ideas about “equality,” “rights” and “social justice” by teachers (and journalists and movie producers) who cherish romantic mythology about the righteous glories of Sixties radical movements.

The other problem is that Marxism is an emotionally appealing argument, to those who have never been taught how to actually think.

[Update a while later]

“The putrid stench of a century of folk Marxism.”

Business, Economics, Media Criticism, Political Commentary

Rick Perry Is An Idiot

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At least based on his interview with O’Reilly.

No, the Occupy Wall Streeters are not looking for jobs, Rick. They’re looking for a big paycheck to cash in on their worthless college degrees, if they even have them.

But even worse, knowing that you were going into that interview that you would be asked about the president’s comments about “Americans being lazy” and knowing that your commercial had taken him out of context, in that he was talking about us bringing in foreign investment, did you point out that in fact that the president was wrong, and that there has been abundant foreign investment in the US because much of the money has nowhere else to go?

No, you just double down on the stupid.

Here’s some advice Rick Perry. Either listen to your political advisers, or fire them. Because this was a huge blown opportunity.

Business, Economics, Political Commentary

The GM Bailout

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The losses are going to be massive:

The $23.6 billion represents a 25 percent loss on the feds $60 billion direct “investment” in GM. But that’s not all that taxpayers are on the hook for. As I explained previously, Uncle Sam’s special GM bankruptcy package allowed the company to write off $45 billion in previous losses going forward. This could work out to as much as $15 billion in tax savings that GM wouldn’t have had had it gone through a normal bankruptcy. Why? Because after bankruptcy, the tax liabilities of companies increase since they have no more losses to write off.

This means that the total hit to taxpayers, who still own about a quarter of the company, could add up to $38.6 billion. That’s even more that the $34 billion on the outside I had predicted in May.

But it’s OK, ‘cuz the president’s campaign supporters got paid off.

Business, Economics, Education, Media Criticism, Political Commentary

The Brain-Dead Left

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Thoughts on their intellectual exhaustion and maleducation:

To our mind, that sentence more than anything we’ve read encapsulates the spirit of Obamaville. It originally appeared in a San Francisco Chronicle story about an incident in which “dozens of college students” invaded a Bank of America Branch, “pitching a tent and chanting ‘shame, shame’ until they were arrested.”

On the way to B of A, they paused at Citi to scream at the walls. These are college students, acting like 2-year-olds throwing a tantrum. What does that tell you about their critical thinking skills–and about the standards of American higher education? The likes of the New York Times expect us to take such incoherent spasms of rage seriously as a political “movement.” What does that tell us about the standards of the liberal media?

Pretty much everything we need to know.