Rumsfeld called “an idea of enormous consequence” the fact that “anyone who finds a way to make use of such riches by applying their labor or their technology or their risk-taking are required to pay writ royalties of unknown amounts, potentially billions, possibly even tens of billions over an extended period, an ill-defined period of time, to the new International Seabed Authority for distribution to less developed countries.”
Saying that this principle has “no clear limits,” he mused that it could set a precedent for space exploration, too.
He shouldn’t just “muse.” It could be a disastrous precedent, completely undercutting the arguments we make against the Moon Treaty.
This kind of ignorance is why so much reporting is nonsensical — reporters are always surprised when an economic report “unexpectedly” has bad numbers, because they really believe the Keynesian crap.
It is unseemly and stupid for Washington to remonstrate with the Russians for playing the spoiler in Syria, for example by providing the Assad regime with attack helicopters. The way to deal with this dog is to beat up the dog’s owner, namely Tehran. Washington’s pathetic display of solicitude towards a terrorist regime that uses negotiations to buy time for nuclear weapons development aggravates every other problem in the region, Syria above all.
The latest Rasmussen Reports statewide telephone survey of Likely Voters shows Romney with 47% of the vote to Obama’s 44%. Five percent (5%) prefer some other candidate, and four percent (4%) are undecided.
Hard to see a path to victory for him if he loses Wisconsin.
[Afternoon update]
The GOP is born again, in Wisconsin. Most people aren’t aware that the state is the birthplace of the party.
Once again government has created the conditions for wholesale failure, and failure is upon us.
From 1976 to 2010, the prices of all commodities rose 280 percent. The price of homes rose 400 percent. Private education? A whopping 1,000 percent.
In the end, this bubble will be worse than the last. Even when homeowners got hopelessly behind on their mortgages, two options helped. First, they could declare bankruptcy and free themselves of their crippling debt; second, they could sell their houses to pay down most of their loans.
Students don’t have either of these options. It’s illegal to absolve student loan debt through bankruptcy, and you can’t sell back an education.
I hope that it has a disproportionate effect on the academic left. In a sane world, the first thing to go would be diversity programs, with “studies” departments hard on their heels.
If I were in DC, I’d attend this event on the Hill on Friday. But in my experience, space historians won’t necessarily do a good job of extrapolating into the future, particularly when it comes to technological trends.