Friday, October 30, 2009

- Saved Or Created

All but the embarrassingly naive, or the devoted kool-aid drinkers know that the 'saved or created' line is a lie... a made up statistic endlessly repeated by the administration to make themselves look good. Imagine my shock and horror to discover that politicians lie.

But even if you drink the kool-aid then the "jobs saved" that the administration is talking about, are the jobs of state and local government workers. That part of the economy produces nothing. They add not at all to the living standard of Americans, so in the longest term, the money has been wasted.

And that's why I'm sick of hearing this particular lie. Even if it's the truth, it's actually a net on net bad thing. It's just another means of taxing the productive part of the economy, to support the unproductive parts. It's another attempt to insulate the bureaucracy from the effects of the economic downturn by making things worse for the private sector.

But that fact won't come out until after the media decides to wake up from it's Obama stupor.

- Governed By Callous Children

I've written a lot about this but never so well:

When I see those in government, both locally and in Washington, spend and tax and come up each day with new ways to spend and tax—health care, cap and trade, etc.—I think: Why aren't they worried about the impact of what they're doing? Why do they think America is so strong it can take endless abuse?

I think I know part of the answer. It is that they've never seen things go dark. They came of age during the great abundance, circa 1980-2008 (or 1950-2008, take your pick), and they don't have the habit of worry. They talk about their "concerns"—they're big on that word. But they're not really concerned. They think America is the goose that lays the golden egg. Why not? She laid it in their laps. She laid it in grandpa's lap.

Frankly, it's the best thing Peggy Noonan has written in years.

They don't feel anxious, because they never had anything to be anxious about. They grew up in an America surrounded by phrases—"strongest nation in the world," "indispensable nation," "unipolar power," "highest standard of living"—and are not bright enough, or serious enough, to imagine that they can damage that, hurt it, even fatally.

We are governed at all levels by America's luckiest children, sons and daughters of the abundance, and they call themselves optimists but they're not optimists—they're unimaginative. They don't have faith, they've just never been foreclosed on. They are stupid and they are callous, and they don't mind it when people become disheartened. They don't even notice.

Thursday, October 29, 2009

- Peter Schiff: "Sell Into The Dollar Rally!"

For the record, I agree with Peter Schiff. I think there is little that can be done at this point to save the strength of the US dollar over the long term, even if the administration wanted to (which they don't). And I think the effect of that is exactly what he says it will be.

But you need to be a little careful how you say things like this. You quickly reach a point where people will dismiss you, not because of the facts you present, but because of the emotion with which you convey them. Glenn Beck has exactly the same problem. And if you aren't convincing anyone other than those people who already agree with you, then why bother to say it in the first place?

Peter Schiff is a very smarty guy who (I believe) accurately sees what's happening in America. But I think he'd convince more people he's right if he just turned it down a notch.

With all that said, if you're a regular guy who wants to save his family's future, you should go out there and borrow lots and lots and lots of money, and use it to buy hard assets. Inflation can be thought of as a reverse interest rate that punishes lenders and rewards borrowers. That makes it sound like good medicine to team Obama.

Wednesday, October 28, 2009

- And So It Begins...

GMAC want's even more money from the US taxpayer
, and since the original decision to buy the company was based on politics rather than any kind of rational economic or financial gain, there is no reason to believe that this request will be handled any different than the last one.

The US taxpayer is now the proud owner of a labor union whose only real accomplishment is the annihilation of the world's great industrial sectors.

Tuesday, October 27, 2009

- Scary Marxist Clown Mask

Just in time for Halloween. Available from amazon at the link.

- Doug Hoffman For Congress

Oh how I wish a guy like Hoffman were running for Governor in NJ.

- Tragic Stupidity

Nancy Pelosi thinks a new name will get the debate about the Democrats healthcare take-over rolling again. According to a piece on

The speaker said the "competitive option" idea emerged during her closed-door roundtable at the Sunrise Senior Center with advocates of seniors and others who work with older populations.

The competitive option. That would be hysterical if it wasn’t such a tragic testimony to how detached our political class has become. The purpose of a government run insurance plan is to eliminate competition not to enhance it. And it will be highly effective at doing just that.

Pelosi and the Democrats believe that eliminating the profit from the healthcare industry will solve all the problems of the healthcare industry. This is in a word, idiotic. Eliminate the profit and you eliminate the companies who provide the insurance. Why do it if they’re prohibited by law from making a profit at it? That will quickly leave only the government to provide medical care, and as we’ve seen in Canada and the UK, that will end tragically for millions of Americans.

And the truth is, the Democrats know this… they just don’t care. Big labor has promised their members a luxurious raft of benefits that they simply cannot possibly hope to deliver, and they need the government to take it over before they run out of rope. The SEIU and the AFL-CIO want it, so Obama and Pelosi have every intention of giving it to them. That’s why Pelosi is forced to say such obviously stupid things.

Monday, October 26, 2009

- Some Financial Notes

- If Ben Bernanke tries to raise interest rates before unemployment falls to 8%, they’re going to find him at the bottom of the Potomac, tied up in the trunk of Rahm Emanuel’s car.

- Contrary to what they tell you on CNBC, inflation causes rising prices not the other way around. First the money supply increases… that’s the inflation. Then as it works its way though the currency supply chain, prices begin to rise. The rising prices are a symptom not a cause, and it may take months before we feel those effects.

- Equity Markets and Gold markets are rising together because equity represents a hard asset. Think about it.

- Support for the dollar is only going to come from the Germans and Japanese for whom a weak dollar is contrary to their interests. Watch the price of gold in euros to stay on top of that situation.

- High inflation can be thought of as a reverse interest rate. It takes from lenders, and gives to borrowers. In that way it can be used as a wealth transfer mechanism (by those inclined to that kind of thing) since the lenders are always the “haves” and the debtors are always the “have nots”.

- Team Obama likes the weak dollar because someone in organized labor (the only people he listens to) told him that it would help our industrial exports. What they didn’t tell him (or they did and he didn’t understand) is that after 30 years of terrible labor laws, virtually our entire industrial sector has already moved to Mexico and China so the upside will be far less than they expect.

- For Team Obama there is no such thing as a problem, until it becomes a political problem. It's only once it will effect election results that a situation will require immediate action. So long as the voting public doesn't care if his economic plans work, neither does Obama.

- Americans understand that higher interest rates slow the economy, but they don't understand where inflation comes from. Higher prices for commodities can be blamed on 'speculators' or 'foreign interests' or whoever, but an interest rate hike will only be blamed on the president. Since that's so, we'll get more of the former, and less of the latter.

PS I have an original copy of the above cartoon which I clipped from a copy of the Wall Street Journal in November, 1989. If that doesn't' date me I don't know what does.

Saturday, October 24, 2009

- Principle Vs. Ambition

I’ve tried a few times to write something about why I still like Sarah Palin, but I confess that I’ve really struggled with expressing it. It’s not an easy idea to reduce to the kind of sound bite that I know resonates with most people. I can get close; but up to now the sentences I wrote lent themselves too easily to misinterpretation. But I think I’ve finally gotten a handle on it.

The people that pursue politics as a career in this country, (from both parties) are usually people like Joe Biden, who wouldn’t be able to succeed if they had to worry about things like talent or competition. My local state senator Jennifer Beck is a good example of someone with a similar lack of substance on the Republican side. Both she and Biden are attractive and reasonably well spoken, but their only talent is in telling people what they want to hear when they want to hear it, and avoiding responsibility when things go badly. Neither has what you might call character or even a core of beliefs.

In fact, even more than that, they will energetically believe whatever you tell them to if you can convince them that it will lead to them getting more political power. Sometimes compromises come with that. Both Democrats and Republicans believe a general philosophy that they can’t contradict too terribly much. But the only reason they don’t is because they don’t want to seem inconsistent; and even that is only because it might cost them votes. If it was in their interest to be a socialist today and Austrian school true believer tomorrow, they would have no internal issue with making the switch.

They would tell you that those compromises of principle are simply a part of playing the game and you can’t make an omelet without breaking an egg or two. But the fact is, the game is as it is because Biden and Beck are as they are. And what they are is ambitious. They long for power… they crave it with every fiber of their being. They want to rule. They want to be in charge. It’s their defining character trait and they’re prepared to sacrifice everything toward reaching that goal. Put them in a situation where they can have absolute monarchical rule of all of America if they’ll just put 6 million Jews in a gas chamber, and neither of them (nor virtually any other professional politician in America) would have any issue at all re-enacting the holocaust.

Fortunately for America’s Jewry, that isn’t a choice any of them will be offered. But replace the Jews with an even less popular group like Insurance companies, or Wall Street Executives, and change the gas chamber to something more moderate like a permanent indentured servitude, and all bets are off. For Biden and Beck, their desire for power will vastly outweigh any theoretical idea about the rights of citizens, and they’ll happily strip them of those rights as fast as they can. Of course, in America extremist views don’t win votes so there will be no gas chambers any time soon. But while the degree is dramatically different the principle (or lack of one) is exactly the same. The people in public office don’t have a problem with an utterly unjust act, only that it won’t help get them re-elected.

This isn’t to say that these two particular politicians have a populist streak, although they can if it serves their greater ambitions. Like I said, they’ll believe whatever the fashion of the day will allow them to so long as the result is that they get more power. There is no cost too great for them to meet that goal. They are empty vessels filled with whatever we want them to be. They are utterly without vice or virtue apart from the ambition for power. The only beliefs they hold or personality traits they possess are those that they have been convinced will lead to more control over the masses. And they are moderated in their beliefs only by what shows up well in the polling.

Sarah Palin does not fit that mold. Sarah Palin has a set of core beliefs which she values as more important than any personal ambitions. As I said in the first paragraph I ever wrote about her, “she doesn’t just talk the talk, she also clearly walks the walk”. She may be playing the same political game as Joe Biden or Jennifer Beck, but she’s doing it from the position of someone who would rather lose the battle than give up her core beliefs. Many American live their lives that way. I like to believe I have, and I know a great many of my friends have as well. And to us, it’s very easy to see that very same thing in Sarah.

To the media and the elites on the coasts, she looks like an unsophisticated rube. But Sarah remains unphased by their criticism. It's been more than adequately demonstrated by people like Nancy Pelosi and John Kerry that intelligence isn't a requirement for political success, so who cares it the New york Times can't tell her quotes from those said by Tina Fey? She's confident that if she just stays true to what she believes, the truth will out in spite of the media's attempts to distort it.

In Sarah's view they can either accept her for who she is or not… but since she isn’t going to change, there is no need to fret over it. And rather than playing the game to win at all costs like most politicians do, she’s going to play to achieve what she believes is right. She has principles, and principles don’t change. Even if the poli-sci teachers at Harvard would have us all believe otherwise.

That’s the thing about her that I don’t think the media understands. She’s not in this to win if it means she has to sacrifice those principles. That idea is totally foreign to them so it looks like she’s not taking the game seriously. But I believe she is. I think she knows as well as anyone what the stakes are. In fact, she probably understands it better than the gobs o’ ambition that rule the roost in DC. She knows that if we don’t turn the tide very soon then we’ll quickly become a third world country with a third world standard of living. And very shortly afterward, what we know as ‘America’ will cease to exist.

So she’s trying to make things better. And if that means she can also win… great. But she isn’t prepared to sacrifice her principles for it. For empty suits like Joe Biden or Jennifer Beck, there is no internal struggle in doing their job. How could there be? They don’t believe in anything so there are no beliefs to compromise. But Sarah Palin is different. Sarah Palin’s internal battle is between the virtue of representing the interests of a free people, and the vice of ruling a dependent and subservient populace. If she decides to win at all cost like most politicians do, then she’ll be choosing the latter, and in her mind that would mean that she’s already lost.

I like Sarah, and I think I understand her. And so long as it looks to me like the virtue of her character is winning, she’ll continue to have my support.

Friday, October 23, 2009

I Support All Pay Limits

The fact is, the companies that still owe the government money were mismanaged, and should have failed last year. The fact that they’re still operating is as a result of our politicians acting contrary to the interests of the American people. Had they been allowed to fail, the assets would have been bought by other, better managed firms. Those firms would have fired the people responsible, and reorganized the companies right away. The market could have then come roaring back without an undue burden upon the taxpayer.

Instead, our government stepped outside the bounds of its constitutional authority and propped up the mismanaged companies with taxpayer dollars. But that won’t stop the companies from eventually dying none the less. The difference is that instead of dying right away and donating their still useful organs to others, we’ve put them on life support where they will continue to fester uselessly, and to drain the resources of the taxpayer.

I support our government limiting the compensation of executives from those specific companies because it will hasten their demise. No competent risk manager will accept the terms offered by the government, so they will end up with incompetent managers or none at all. If market forces are then allowed to operate, they will be in default in no time. The danger however is that the US government will not allow them to fail in the future either. If the executive compensation is also attached to legislation preventing those firms from receiving any further government support (be it equity, debt or credit guarantees of any kind), then I can stand firmly behind them.

Some have raised the concern that having taken over the taxpayer supported companies; the government might then also want to limit the compensation of other executives as well. I support those efforts as well, and I do so for two reasons. The first is that I believe socialists are only elected by people who don’t realize what a terrible idea socialism is. So in some respects, the purpose of a socialist politician is to teach that lesson to a new generation. Government limited compensation for all executives will have an economic effect so terrible, that no one will be able to ignore that lesson.

Secondly, if the Obama administration limits the compensation of all executives, then all the companies which don’t rely on Washington for their support will move their headquarters overseas, while only those companies that rely on congress to make their way will remain. This will greatly limit the ability of the Obama administration to transfer wealth from those who earn it to those who don’t. In effect it will cause the socialists government to ‘run out of other people's money’ all the sooner.

These may sound like extreme measures but they are no less than what we are on track for eventually with the current administrations economic policies. It's just that these will have the benefit of being completed sooner, and will therefore leave us more time to rebuild America again.

- Liberal Thinking

The left is convinced that everyone should get with the program because their agenda has already been universally agreed to. Well … not universally per se… all the bible clinging, gun toting rednecks may still have a problem with it. But they’ve spoken to everyone who matters according to them, and they’ve all agreed that we’re good to go. So anyone who doesn’t just sign on to the whole package must be doing so for some other nefarious reason.

I mean… it’s pretty clear that no reasonable, intelligent, educated or otherwise cosmopolitan person could possibly disagree with anything team Obama has proposed. So when someone like the Senate Republicans pose objections, it must be because they’re being hard hearted, and trying to exploit the suffering of the masses for their own political gains. So of course the Democrat’s try to silence them. It might be a different story if their objections were reasonable, but as I’ve mentioned, everyone who matters has already signed on.

You may ask yourself how they can tell whose opinion counts and whose doesn’t. Well it’s simple. All you have to do is ask them what they believe. If they know that Global Warming is caused by human industrial activity and can only be prevented by unilateral government action, then they are part way there. If they also believe that the reason some people win in this country is because they’ve gamed the completely corrupt ‘free markets’ and have exploited the poor for profit, then that helps too.

In short, if they sign on to the agenda that team Obama is promoting then clearly they’re intelligent enough for their opinion to count. If however they aren’t, then they are either too selfish or too stupid to matter. And with the whole world to change, the Democrats can hardly be expected to wait around while every two bit bible thumping redneck from the middle of nowhere gets on board. In fact, they can’t even be expected to wait for a simple majority to do so.

If about 30% of the people agree, that should probably be good enough. After all, it’s not like they’re doing this out of greed or selfishness. It’s for the good of the people, even if the people aren’t sophisticated enough to understand that. So the best thing for everyone would be to let the people who ‘REALLY’ matter make all the decisions, and once it’s done, everyone else will see that it’s really better for them after all.

I mean think about it…. many of those people don’t even know what total bunk Christianity is, so how can they possibly be expected to understand how to make their own healthcare decisions. I mean, it’s all that miracle mumbo – jumbo, and it caused all those wars throughout history. The Pope even thinks abortion is bad, so who could possibly believe in any of that? It’s not like one of the helpful religions like Kabalah or Scientology or Witchcraft.

Sometimes the selfish or stupid people bring out some statistic that might make it seem like they have a point, but that’s just them using meaningless numbers to distract from the real question; so there’s no point in listening. It would be better for them all to just shut up, and let the important people work this out on their behalf. After all, that’s how a Democracy works. Everyone votes, and then the ‘important’ people decide things and that’s it. That’s how the world is supposed to be.

So it’s OK to try to stifle Fox News. The fact that they have so many dumb people watching doesn’t matter. If they were smart people it would be a different story of course… but since they haven’t signed on to the program…..

Thursday, October 22, 2009

- Life In A One Party State

In New York's 23rd district, the Republican machine has put up a pro-abortion, pro-tax, ACORN supported liberal candidate to replace an outgoing Republican congressman in a special election. Yes, you read that right... she's the Republican candidate. Last week she was so ruffled by a reporter from the Weekly Standard who was asking her policy questions at a campaign event, that she called the police on him. A republican congressional candidate sicking the cops on the Weekly Standard is the philosophical equivalent of a Democrat sending their union thugs down to the Washington Post editorial board to break a few legs. It's beyond parody.

Fortunately, the NY Republican machine has long been a useless and inept group, so it looks very much like they're going to fail. Major conservative and Republican supporters have abandoned her, and are throwing their support toward Doug Hoffman, the only real conservative in the race who is running as an independent. The result may very well be a Democrat win in what has historically been a safe Republican district. But what the major media won't tell you is that it isn't the fault of the voters, or of Doug Hoffman but of the Republican machine. If it's a seat that's lost, it won't be because it was taken from the Republicans, but given away by them.

The only smart move left to them would be to have the Republican candidate drop out of the race and to let Hoffman replace her. In NJ we call this "Pulling a Torch"; So named after Bob "The Torch" Toricelli, who was replaced in his Senate run just days before the election by Frank Lautenberg, to prevent the loss of the seat because of Toricelli's corruption allegations.

And although it isn't quite as overstated and obvious as what's going on in NY23, we in NJ have a similar problem in the governor's race. Governor Jon Corzine is as popular in the state as swine flu. But rather than giving NJ conservatives someone they could vote for enthusiastically, the Republican machine has instead offered up Chris Christy,... yet another in a long line of 'tow the line' Republicans, who know what side the bread is buttered on in Trenton.

He's criticized here by the WSJ, for not running a particularly effective campaign, but I think the bigger concern is that he's not a particularly compelling candidate. In the end he'll do what all the Republicans in NJ do. Instead of taking campaign money from the unions, he'll take it from the Real estate developers, and 4 years from now he'll be trying to explain why it was impossible for him to do the things he wanted to do. In New Jersey that's as good as it gets.

In both cases we have a Republican system that is ignoring the current political environment. The issues that concern tea party and town hall attendees are being completely ignored. The reason that's so is because the Republican machine makes it's way in the world the same way the Democrat machine does... with the slow and steady increase of government authority over the individual citizen. They haven't signed on to the idea that smaller government is the answer. They remain a party devoted to big government, making both NY and NJ effective one party states.

This can't be changed at the ballot box or by starting a third party. The problem isn't the people in office but the people put up to replace them. And since that process is thoroughly undemocratic, we need to use undemocratic measures to do something about it. It's a corrupt process, and I find all of the people who are deeply involved in it thoroughly reprehensible. I don't want to spend a minute more with them than I have to, but I think we all have to. It's either that or remain their serfs.

So on election day I'm going to hold my nose again (same as I always do) and vote for Christy. Then I'm going to go down to my local Republican party headquarters, find the party boss, and punch him squarely in the nose.

(I'm speaking rhetorically of course... I don't intend any actual violence. The reporter from the Weekly Standard had the cops sicked on him for asking questions so it's probably to much to ask the folks in New Jersey to recognize a metaphor.)

Wednesday, October 21, 2009

- Undo Women's Sufferage!

My friend John Derbyshire makes a perfectly lucid and clear thinking point about women and the vote. There has been some misunderstanding about it from liberals, but you know liberals... they misunderstand all kinds of things.

Tuesday, October 20, 2009

- High Unemployment: The New Normal

The AP is now saying that a higher unemployment rate is "The New Normal":

"Many factors are pushing against a quick recovery," said Heidi Shierholz, an economist at the labor-oriented Economic Policy Institute. "Things will come back. But it's going to take a long time. I think we will likely see elevated unemployment at least until 2014."

"Why is that" you may ask? Why hasn't the 'Dear Leader' taken a moment from stilling the waters and created or saved a job or two? Well the answer is actually quite simple.

The private sector is dynamic and reacts very quickly to opportunity. But in the Obama Economy, the private sector has been replaced with public sector jobs. That means that a smaller portion of the economy must work even harder to create growth, which will in turn create tax revenue, which will eventually lead to jobs.

Fixing unemployment is actually an easy thing, you just need to let the private sector do what it does best. When you deregulate an industry, that's exactly what happens. But we're not going to do that. Instead we're talking about nationalizing the Healthcare and Energy industries, and spending even more money bailing out the unions and the various state governments.

Instead of creating jobs that also create wealth, we've created jobs for bureaucrats who just tell the people creating the wealth what do do, and then redistribute the wealth once it's been created.
And since that's so, get ready for the new normal.

But what do I know... I'm only a labor economist whose spent the last 20 years doing this stuff.

Monday, October 19, 2009

- I'm Finally Down With Obama

As much as I’ve complained about him, Barak Obama has been very good to me so far.

“How’s that” you may ask? Have I been the recipient of vast sums of borrowed government money targeted for the downtrodden, or has my company received government guarantees for our credit? Nope and Nope. Has his vision of our collective future dominated by government insurance mandates and environmental regulation filled me with a sense of well being so intense that it’s usually reserved for pampered children? Nope. Has the way he’s stuck steadfastly by his (empty) campaign promises for a new and more open kind of politics left me more reassured about the people in Washington? Nope.

So what is it that’s got me so pleased with Obama? Well to be frank… He got me out of a traffic ticket. Or as my daughter more correctly said “Making fun of Obama got me out of a ticket”.

On my car is a bumper sticker which works the Obama symbol into the phrase “Honk if I’m paying your mortgage”. When they see it, conservatives usually laugh like hell and honk up a storm while liberals give it the Scooby Doo look and say “I don’t get it”. So this past weekend while my daughter and I were on our way to our bi-weekly daddy – daughter breakfast date at the local diner, I absent mindedly changed lanes with no blinker, and was pulled over by a local cop.

He came to the window smiling. I didn’t realize why, but he reached out and touched my rear fender as he went by. I thought at first I had a light out or something. When I handed him my license, registration and insurance he looked at them quickly to see they were current, informed me of my violation, and told me that he wasn’t going to write me a ticket and that he also ‘really liked my bumper sticker’. I smiled and thanked, him, promised to be more careful in the future, and we each went our (slightly merrier) merry way.

My daughter and I looked at each other for a minute, and then burst out laughing. She thought it was absolutely hysterical that for all I complain about him and yell at the TV, President Obama still got me out of a ticket. To tell you the truth, I thought it was pretty funny too. And from that moment on my feelings about Obama started to change. His arrogance began to seem more like generosity to me. His liberal myopia and west wing insulation from reality began to seem more like gifts. Because I realized that for all my whining, I’m actually making a killing off this guy.

Because he and his staff understand so little about how a modern economy works, he’s destroying it in ways that are entirely predictable. He has all the economic wisdom and foresight of a college sophomore in the English literature department. He’s apparently believed every bit of idiot socialist tripe that’s come down the pipe since the Carter administration, and he’s acting on all of it. And that’s turned out to be a windfall for guys like me who can anticipate and react to that in advance.

He’s borrowed like a drunken teenager with his daddy’s credit card, and squandered all the money on pro labor nonsense. (So much so that it looks like he’s going to go back and get more.) He’s eroded confidence in the US economy, causing the dollar to plummet and commodities to skyrocket. He’s offended our allies, given huge concession to our enemies and basically done all he can to degrade the position of America in the world. And the best part is, I could have (and mostly did) tell you all of this a year ago.

I’ve even done better than many of my peers. That’s because some people in my profession find it hard to trust their eyes with things like this. For people who analyze markets for a living, it can be hard to believe that full grown adults like Obama and his advisers could be so economically naïve. In fact, a year ago, I would make my case about what I thought they would do in terms of economic policy and people would say to me, “Nah… they can’t be THAT stupid!” And I would respond with, “Oh… I’m willing to bet they are”. And in fact that’s exactly how it’s turned out.

Of course, the downside to all of this is that it will hasten the destruction of western civilization and turn America into a second rate power with a third world economy. It will destroy America’s middle class, erode their savings, shatter their living standard and will replace the only chance they might have of improving their own lot with a series of government mandates and layer upon layer of bureaucracy. And America’s ‘poor’ are going to stop worrying about the air conditioning and premium vs. basic cable, and start worrying about how to better waterproof the cardboard box they’re living in. But those are the breaks I suppose.

In my view I’m simply taking the lemons the Democrats have given me and I’m making lemonade out of them… very expensive, limited reserve lemonade. Because it seems to me that the best way to avoid the dismal fate that Obama’s making for America’s middle class is to get rich enough so that I’m no longer a member of it. They still have rich people third world countries after all. There are private jets in Peru, and luxury yachts anchored in Nigeria. So while he may be screwing most of the people most of the time, he won’t be able to screw everyone. And I’m going to make sure he doesn’t actually get to screw me.

You see… that’s the real problem with socialism…it’s that people like me don’t believe in it and never will. Obama believes that someone like me only profits because I unfairly use my advantages, but they forget that my real advantage is that I’m smarter than most people, and I work harder than everyone. That’s the hardest of the hard facts for people like him who hold animating principles which come from the far left. Try as they might, they haven’t yet figured out how to redistribute the actual intelligence and hard work. And to date, they've always stopped just short of passing laws to prevent disctimination against the stupid and lazy.

Which brings to mind the very sage advice my dear friend and legendary currency trader Roy Lennox gave me when we were discussing Obama during the election. Roy is a little older you see and could still remember what it was like to trade during the Carter administration. “It’s never easier to make money in the markets” he said to me one day ”than when there is a Democrat in the Whitehouse who thinks he’s smarter than everyone else.” Thanks Roy, turns out you were absolutely right. I guess Obama really was running for Jimmy Carter’s second term after all.

So as long as our ‘dear leader’ doesn’t get us blown up by an Iranian nuke or surrender New Jersey to the Russians, I think I’m going to stop complaining about Obama for now. And when tries to pass off another labor union bailout as healthcare reform all I’ll have to say is “You go girl”. When he blames speculators and uncooperative corporate interests for runaway inflation and soaring commodity prices I’ll say “That’s right…. you get em!” And when he decides to nationalize the energy producers to make them ‘more efficient’ I’ll shout “Long live the Revolucion” from the rooftops.

Like the man said, “It’s the end of the world as we know it… and I feel fine.”

Wednesday, October 14, 2009

- Slandering Rush Limbaugh

Rush Limbaugh certainly doesn't need any help from me, but that doesnt' mean he doesn't deserve a little. what CNN, MSNBC and the more liberal parts of the mainstream press have been doing to Rush the last few days certainly meets the standard of Libel as I understand it. This clip is one of the more outrageously offensive things I've ever seen. What makes these people believe they can get away with this?

These same people called Glenn Beck a bigot for offering what he specifically said was his opinion of Obama, but they have no problem lobbing accusations like this as if they were facts. I hope Rush sues their A$$es off.

Tuesday, October 13, 2009

- Knock Knock...

Some jokes don't require that much setup.

Of all the hilarity around Barak Obama's nobel win, my favorite was a bit delivered via Mark Steyn.

"Apparently Rush Limbaugh has agreed to be a judge for the Miss America Beauty pageant this year. That should make for an awkward moment when he has to crown Barak Obama."

Monday, October 12, 2009

- This Stuff Never Gets Old

Who could have ever possibly imagined how much fun it would be to watch an elderly Jewish man teach people about basic economics. What's really amazing is that even in 1978, this diminutive professor so well understood what is sure to become the most fundamental issue of our day. That the parasitic classes (including those in government) can no longer reward themselves so generously from the coffers of the productive classes in the private sector, unless we're prepared to watch the whole thing burn.

Friday, October 9, 2009

- A Historic Moment In Trans-National Buffoonery

Our lord and savior, Barak Hussein Obama, wins the Nobel Peace prize simply for showing up.

Yassar Arafat, Jimmy Carter, Al Gore, and now Barak Obama.

The really funny thing is that no matter how often the Nobel committee confirms the worst characterizations of their critics, the press still takes them seriously.

Thursday, October 8, 2009

- Meanwhile In Virginia

- NJ's Big Issue This Election

Chris Christy is a machine Republican who, if you want to speak realistically, isn't going to be able to get anything done as Governor in Trenton. But that doesn't mean I'm not going to vote for him. I will, and you should too.

The biggest problem with New Jersey is that the people who hold elected office are bought and paid for by the people who run the state employee's unions. They work hand in glove with the politicians of both stripes to award themselves excessively beneficial contracts, benefits and pensions. They do far better than NJ's private sector workers. Not because they do a better job ... they are government workers after all. They do better than the private sector because they get to make the rules and set their own terms.

They negotiate with people who aren't spending their own money, and have no pressure to generate a profit. So when the unions push for more, they are doing so knowing full well that the person across the table cares more about getting votes than keeping costs low. Votes are easy for a union, so they get little push back from negotiation. It's sort of an institutionalized corruption. Votes go in and pork laden juicy union contracts come out. And it's all done on the taxpayer's dime.

It should be illegal for public sector labor to unionize. there is no profit pressure after all, and no allegations of abuse. There is no reason to have a union for public sector workers except to distort the economics of the labor contract that would otherwise have to be negotiated in a free market. But since it isn't, we have the highest taxes in the country, and the worst environment for business of any state.

When Corzine was elected governor, he had his chance to decide who he would stand up to...either the taxpayers or the unions. The two are diametrically opposed to one another, so this was the direct choice he had to make. And paragon of strength that he is, he chose to fight with the taxpayers, so he doesn't deserve your vote.

I don't know if Christy will stand up to the CWU and the other state employee unions. And I don't know if it matters if he does. (He's probably got his hands tied by the courts anyway.) But I know what Corzine is going to do. He's going to continue to represent the interests of someone else.

So I'm going to vote for Christy. I have no illusions about the man. But he can't be any worse than Corzine.

- Can't Say We Didn't See This Coming

Although to be fair, I don't remember any campaign commercials about the Olympic committee laughing us out of Copenhagen.

- Smarter Than You

- Another Liberal Fallacy Falls

Today there is still the naïve mindset that killing Osama bin Laden will stop the war, or at least check the box of why we went to war in the first place. This is nonsense, like believing that killing the big-headed TV Burger King will immediately stop the sales of Whoppers with cheese. If we judge the failure in Afghanistan as the inability to locate Bin Laden, we are far off course as to why we fight in that region.

David Bellavia on Afghanistan.

Wednesday, October 7, 2009

- A Classic Political Ad

It's even funnier for me because I think that guy lives in my neighborhood.

Tuesday, October 6, 2009

- ACORN Is As Good As Dead

whatever they may say about themsevles, ACORN is now finished; you can go ahead and nail the lid shut. When the Washington Post throws up the white flag and starts covering the scandal, it's an admission that the media can't keep a lid on it anymore.

Kudos to the team for throwing a bug bomb into Washington and killing all the roaches that are about to be found lying about dead. We'll see them soon of course because the light in the kitchen has finally gone on.

- Defending Glenn Beck

Glenn Beck is probably closer to my political center than John McCain. He's not exactly coming at it from the same place, but he's certainly getting to the same approximate location.

He's less excitable about it than my buddy Craig, and more economically literate than my friend Vinnie. The moral of that is that you don't have to fit the personality model of William F. Buckley or Ronald Reagan to be a real conservative. Although Beck's personal style is very different from mine, I think he's a force for pulling America in the right direction. I'll write more on this shortly when I get a breather from my life.

In the meantime, here's Jonah Goldberg offering a much deserved defense of Beck. It's a shame he doesn't get more of these... he certainly deserves them.