Category Archives: Economics

Rachel Maddow, Space Policy Analyst

I’m not sure what she’s saying here:

We didn’t put a man on the moon because some company thought they might be able to make a profit doing it. It takes vision to involve the common good of the American people without regard for profit. If you’re charting a course for this country and your big idea is “NO WE CAN’T”, then I don’t want you leading this country.

No, Rachel, we put a man on the moon because we wanted to show that a democratic socialist space program was superior to a totalitarian socialist space program. If we’d done it for profit, it would have taken a lot longer, but we’d still be doing it.

The Berlin Wall

Yesterday was the fiftieth anniversary of its erection. Ilya Somin discusses its significance:

I am somewhat conflicted about the status of the Berlin Wall as the symbol of communist oppression in the popular imagination. My reservations have to do with the underappreciated fact that the Wall was actually one of communism’s smaller crimes. Between 1961 and 1989, about 100 East Germans were killed trying to escape to the West through Wall. The Wall also trapped several million more Germans in a repressive totalitarian society. These are grave atrocities. But they pale in comparison to the millions slaughtered in gulags, deliberately created famines in the USSR, China, and Ethiopia, and mass executions of kulaks and “class enemies.” The Berlin Wall wasn’t even the worst communist atrocity in East Germany

And though the wall has been down for more than two decades, or perhaps because it has, a new generation needs to learn the lessons that such things are the inevitable result of Marxist thinking, and one can engage in Marxist thinking without having ever actually read Marx.

The Credit Downgrade

…isn’t the Tea Party’s fault — it’s a symptom of the Marxist disease:

It is time to call a spade a spade — this is Marxism we are talking about, pure and simple.

This bubonic plague of the last century killed tens of millions in the Soviet empire alone, but a young generation of Americans who know little about its destructive power decided to give it a new lease on life. In November 2008 the Democratic Party won the White House and both chambers of the U.S. Congress, and soon after that the United States began being changed from a country belonging to “We the People” into one managed by a kind of Marxist nomenklatura with unchecked power.

This new American nomenklatura started running the country secretly, just as all Marxist nomenklaturas did. “We have to pass the bill so that you can find out what is in it,” the leader of the nomenkatura in the U.S. House of Representatives, Nancy Pelosi, once told the media. That was a first in U.S. history. It did not take long before this American nomenklatura took control of home mortgages, banks, auto-makers, and most of the health care industry. When tens of thousands of Americans objected to the cloak of secrecy under which all this was taking place, the same Nancy Pelosi called them Nazis. That was exactly what all post-WWII Marxist nomenklaturas called their opponents.

This is why Fukuyama’s thesis about the “end of history” after the Cold War was so nonsensical. One of the paradoxes of Marxism is that while it defies human nature, it is in fact human nature to believe its tenets, and so the lesson must be relearned with each generation.

Kings Are So Eighteenth Century

Thoughts on the collapse of the Obama cult.

[Update a few minutes later]

The politics of “liberals” bashing Obama:

As I can fathom this August of discontent, it runs something like this: at best Barack Obama is too aloof, professorial and unable temperamentally or unwilling politically to mix it up with Republicans. Therefore he has compromised far too much on various budget deals, which in part explains his sagging ratings and the general laments in the American and European press that Obama lacks leadership qualities. The nearly $5 trillion in new debt since 2009 is a needed, if too timid, “stimulus”; and if it is seen by some as too excessive, it can be easily remedied by new taxes on the wealthy — something Obama talks about a lot but does little to enact, this buskin Theramenes who bends with the wind.

At worst, there is a sort of victimization that might be described as, “Obama mesmerized us and therefore we did not quite appreciate how inexperienced and unaccomplished he was until now when we sobered up — and when it is too late.”

…A number of us throughout 2008 and later were criticized for raising just these issues, both about Obama’s lack of experience and his Hamlet-like propensity of hesitation and his academic disengagement. But why this sudden about-face from former disciples?

They’re finally figuring out who the rubes were.

[Update a couple minutes later]

Not that it’s a shock that the president would lie, but it turns out that Joe Wilson was right:

There are between 12 and 20 million illegal aliens in the United States. The fact that immigration status will not be checked at these health centers means illegal aliens will be treated, at American taxpayer expense, and in contradiction to what President Obama said. He lied in the service of passing a bill that a majority opposed and which is helping sink the US economy.

Hey, the ends justify the means.

[Update mid morning]

The growing bipartisan consensus on Obama:

My favorite panegyric to Obama comes from the Times’s columnist David Brooks, recalling his first interview with then Senator Obama. “I don’t want to sound like I’m bragging,” says Brooks, “but usually when I talk to senators, while they may know a policy area better than me, they generally don’t know political philosophy better than me. I got the sense that he knew both better than me.” Brooks went on to make this invaluable observation, “I remember distinctly an image — we were sitting on his couches, and I was looking at his pant leg and his perfectly creased pant, and I’m thinking, (a) he’s going to be president and (b) he’ll be a very good president.” What would this precious Washington insider have reported if Senator Obama had been wearing pantyhose?

There are several things that the president could do to save both the country and his presidency. In no particular order, they would be: 1) Agree that the health-care bill is both unconstitutional and a mistake, and offer to sign a repeal; 2) Do the same for Dodd-Frank and Sarbanes-Oxley; 3) Come up with a serious proposal to reform Medicare and Social Security to put it on a sound footing; 4) Come up with a serious proposal to reform the tax code, eliminating subsidies, the AMT and flattening the rate structure; 5) Sign an executive order ending all federal restrictions on the exploration and production of energy — in the Gulf, in Alaska and in the Mountain West; 6) Rein in the Environmental Protection Agency on carbon emissions; 7) Conduct a serious review of federal regulations in general, using Iain Murray’s book as a guide.

He could do those things, but he can’t, because he is too bound to his ideology. And so the country will continue to suffer another year and a half of his lack of leadership, and he will go down in history as a presidential failure on a monumental scale.

Biofuels

This looks like a pretty big breakthrough:

Just how fast are Rice’s single-celled chemical factories? On a cell-per-cell basis, the bacteria produced the butanol, a biofuel that can be substituted for gasoline in most engines, about 10 times faster than any previously reported organism.

“That’s really not even a fair comparison because the other organisms used an expensive, enriched feedstock, and we used the cheapest thing you can imagine, just glucose and mineral salts,” said Ramon Gonzalez, associate professor of chemical and biomolecular engineering at Rice and lead co-author of the Nature study.

Gonzalez’s laboratory is in a race with hundreds of labs around the world to find green methods for producing chemicals like butanol that have historically come from petroleum.

“We call these ‘drop-in’ fuels and chemicals, because their structure and properties are very similar, sometimes identical, to petroleum-based products,” he said. “That means they can be ‘dropped in,’ or substituted, for products that are produced today by the petrochemical industry.”

I wonder what the catch is, if any?

[Update a while later]

The man-made miracle of oil from sand. And as Glenn Reynolds points out, it’s “ethical oil,” not “conflict oil.” And we’re a lot farther from “peak oil” than many want to think.

Stories like this make baby Algore, their lord and savior, weep bitter tears.

Music To My Ears

Al Gore is ranting in frustration that no one buys his climate BS any more.

[Mid-morning update]

Climate skepticism isn’t a fringe phenomenon:

CC. To what extent did you feel like you were standing alone in resisting the man-made climate change theory back in the 1990s?

“It was difficult. I knew that many of my colleagues at the Association of State Climatologists agreed with me. But many of them wouldn’t say anything because they were worried about losing their jobs or just plain having their professional lives made difficult. Frankly there’s a lot more money supporting the other side. Things would be easier if you just go along with them.”

CC. “You’d say that now there’s a lot more money supporting the man-made climate change side of the issue than there is on the side of the skeptics?

“Oh yes, it’s been that way for a long time.”

Yes, though you’d never hear it above the din of the screams about oil money.

[Update late morning]

Climate Depot responds to Gore’s rant.

[Bumped]