Category Archives: Economics

Live Blogging Jeff Greason

From his opening remarks for the Space Manfacturing Conference.

Didn’t want to be in the rocket business, just wanted a ride. Believed all the claims about the Space Shuttle, and they didn’t happen and got tired of waiting, so now in the rocket places. No point in going just to go — have to have some reason, something to do when you get there. If you haven’t figure out how to use this new land, what’s the point? People have seen that there was no point, but there still can be, but not a focus of what we’ve been doing in space. The point is to live there.

In the 21st century, with amazing technological powers, living twice as long as previously imagined. But we’re not proud of what we’ve done, but seemingly ashamed of it. Almost cowering and unwilling to take on the responsibility of wielding the power we’ve created. It’s a symptom, the disease is the closing of the frontier. New things bring new problem, with new opportunities, but in a society when you think we’ve got all we can, change is a threat. From feeling of running out of resources to thinking that it’s time to shift from creating to redistributing. While we sit on the edge of an ocean full of limitless resources. Worrying about our impact on earth’s climate and environment when Mars sits there begging for an impact on its climate and environment, just to warm it up a little. Time to reach out and grab what the universe is offering us. Picked up a book by Heppenheimer called “Colonies In Space.” Can look back with thirty years of experience and see that some of the technical concepts weren’t quite right, and some of the economics weren’t quite right, but one could say the same about Newton. Someone had to be the first to stand up and say, don’t these people need jobs, something to do to pay their way there? Don’t they need a cash crop, just as every migration has had. Gerry O’Neill was that man, we’re all Gerry’s kids, and it’s time to pick up where he left off, and start thinking afresh about how we get out there, make it pay, leave this earth with people who will not come back, and make it the next part of this great human adventure.

The Job-Creator-In-Chief

Why is he playing favorites in Texas?

According to the Bureau of Labor Statistics, 214,000 net new jobs were created in the United States from August 2009 to August 2010. Texas created 119,000 jobs during the same period. If every state in the country had performed as well, we’d have created about 1.5 million jobs nationally during the past year, and maybe “stimulus” wouldn’t be such a dirty word.

To quote the president in another context, you’d think they would be thanking him, but I’ll bet those ingrate Texan hicks won’t even vote for him in 2012.

[Tagged as “Satire” because I’ve never created a “Sarcasm” category. Maybe I should.]

An Open Letter From Ken Langone

Stop bashing business, Mr. President:

A little more than 30 years ago, Bernie Marcus, Arthur Blank, Pat Farrah and I got together and founded The Home Depot. Our dream was to create (memo to DNC activists: that’s build, not take or coerce) a new kind of home-improvement center catering to do-it-yourselfers. The concept was to have a wide assortment, a high level of service, and the lowest pricing possible.

We opened the front door in 1979, also a time of severe economic slowdown. Yet today, Home Depot is staffed by more than 325,000 dedicated, well-trained, and highly motivated people offering outstanding service and knowledge to millions of consumers.

If we tried to start Home Depot today, under the kind of onerous regulatory controls that you have advocated, it’s a stone cold certainty that our business would never get off the ground, much less thrive.

Wreckers.

So Why Aren’t There “Shovel-Ready” Jobs?

To read the comments here, it sounds like we’ve reached second-world levels of bureaucracy. It’s like the whole system is just grinding to a halt. And of course, California has become worse than most places, with little prospect for change, given that the electorate continues to go downhill as the productive leave.

[Update a few minutes later]

The Texas model:

What does Austin know that Washington doesn’t? At its simplest: Don’t overtax and -spend, keep regulations to a minimum, avoid letting unions and trial lawyers run riot, and display an enormous neon sign saying, “Open for Business.”

It’s amazing what can happen when you have political leaders who understand, and don’t hate business.