Category Archives: Economics

Business, Economics, Media Criticism, Political Commentary

OK, We’ve Established What You Are

27 Comments

Now we’re just haggling over the price — what kind of socialist is Barack Obama?

[Update a few minutes later]

It’s a long piece, but I thought this a useful excerpt:

The non-hot socialism Hayek was describing often goes by the name of “social democracy,” though it is perhaps best understood as an American variant of Fabianism, the late-Victorian British socialist tendency. “There will never come a moment when we can say ‘now Socialism is established,’” explained Sidney Webb, Britain’s leading Fabian, in 1887. The flaw of Fabianism, and the reason it never became a mass movement on the Left, is that the revolutionary appetite will never be sated by its incrementalist approach. The political virtue of Fabianism is that since “socialism” is always around the corner and has never been fully implemented, it can never be held to blame for the failings of the statist policies that have already been enacted. The cure is always more incremental socialism. And the disease is, always and forever, laissez-faire capitalism. That is why George W. Bush’s tenure is routinely described by Democrats as a period of unfettered capitalism and “market fundamentalism,” even as the size and scope of government massively expanded under Bush’s watch while corporate tax rates remained high and Wall Street was more, not less, regulated.

This is the scam that they’ve been running for decades. Let’s hope that it’s finally coming to an end. The current polls, at least, would indicate that it is.

I would add that in today’s environment, it is not capitalism that is “unfettered” (and it’s been many decades since that was the case, if ever) but, given the rampant disregard for the Consitution, it is government that has no fetters. That’s what the Tea Parties are all about.

Economics, Media Criticism, Political Commentary, Science And Society

Save The Planet

6 Comments

…cut back on the recycling.

…some national recycling experts have begun calling for government restraint in trash recycling, which can be more costly and environmentally damaging than dumping.

“We just assume recycling is always better,” said J. Winston Porter, president of the Waste Policy Center, an environmental consulting and policy organization. “But there’s a point at which you shouldn’t just recycle for recycling’s sake.”

I think we’re well past it. It’s become the new secular state religion.

My cynicism over it peaked a few years ago when (as I related in a blog post, but don’t want to look for it right now) I watched the recycling truck come by, and unceremoniously dump the contents of my yellow paper bin and my blue plastic and cans bin into the same repository on the truck, completely negating all of my entropy reduction efforts in sorting them. I do notice now, on my return to CA after five years, they’ve at least ended that fraud, and just have one big blue recycling bin.

Either way, give it up for Earth Day.

Business, Economics, Political Commentary

Going Galt

11 Comments

He’s probably not the first, and he won’t be the last:

In a subsequent interview with Bloomberg News, Wynn said much of his desire to leave Las Vegas was because of the country’s economic direction set by Obama.

“The governmental policies in the United States of America are a damper, a wet blanket,” Wynn said. “They retard investment; they retard job formation; they retard the creation of a better life for the citizens in spite of the rhetoric of the president.”

Senate Majority Leader Harry Reid, speaking at a press conference on banking reform, was asked about Wynn’ comments on Obama’s policies.

“I’m not going to get into a dispute with Mr. Wynn, somebody who has done so much for Las Vegas, but I will say that taxes are at an all-time low. The tax picture he complained about is just not there.”

Even if it were true that taxes are at an “all-time low” (does anyone really believe that?), Wynn’s not as stupid as Harry wants him to be. He, and we, can see the taxes coming down the road as a result of the insane spending.

[Update a few minutes later]

“Millions face tax increases under Dem’s budget plan.”

Business, Economics, Media Criticism, Political Commentary, Space

Simplifying The Job

28 Comments

I’m working on a piece along these lines for PM or PJM, but Jim Oberg beat me to the punch:

The plan to reshape the Orion spaceship as a standby rescue vehicle for station crews has profound implications for the requirements of the commercial taxi and its cost. This strategy means the taxis won’t have to last for six months “parked” in space, like Russia’s Soyuz spaceships. The simplification of the taxi’s mission will allow its hardware to be significantly less expensive to build and to validate.

The crucial systems for the taxis have mostly already been built and are available as off-the-shelf technology — which means the spaceships could be much cheaper, much smaller and much more reliable.

The FUD being spread by defenders of the status quo has been almost palpable, and it’s all unjustified.

[Update a few minutes later]

I should add that I doubt very much if the commercial contractors are going to use the Orion abort system. It’s overkill, in both weight and cost. In fact, for a much lighter vehicle, as a taxi would be, it would probably kill the occupants from the acceleration.

Business, Economics, Humor, Political Commentary

Iceland

19 Comments

Here’s a joke that’s been going around the Intertubes — it was the Icelandic economy’s last wish that its ashes be scattered over the EU.

Speaking of which, here’s some cheery news. There may be a bigger eruption coming.

[Update a while later]

Here are some more. I liked this one:

Iceland goes bankrupt, then it manages to set itself on fire. This has insurance scam written all over it.

Heh.

Business, Economics

A Bleg For Corporate Accountants

10 Comments

Does anyone out there have any idea how much it costs to do the accounting necessary to complete a corporate return? That is, not the cost of preparing the return per se, but the costs of collecting and maintaining all of the needed data. Does having a corporate income tax impose additional costs on running a corporation that wouldn’t exist in its absence (that is, are some data tracked that the corporation wouldn’t care about in the absence of the need to file a return)? Also, how much do things like depreciation schedules skew capital purchase decisions?