A leftist has no enemies to the left, and no friends to the right. Thus everyone that he is a friend to, is an enemy to him, and everyone who is a friend to him, he is an enemy to. Back in the day of the Soviet Union, we regularly saw this dynamic with the “popular frontâ€. The popular front, a coalition between moderates and radicals, would seemingly be dominated and led by moderate bourgeois, which moderates would be swiftly …
Category: economics
Gabrielle Gifford’s shooter was a lefty
Two down for the price of one!
Gabrielle Giffords needed killing
And so do most of congress, most of the regulators, and most of the businessmen in the revolving door between business and regulation. All the conservative criticism of her seems to be disappearing off the web, but what the hell, she stank, critics pointed out she stank, so someone killed her. Â It might have been a leftist who did not think she was left enough, but chances are, was a conservative. Yes, chances are that unkind remarks by conservatives …
High returns on IQ between countries, but low returns within country
If we control for academic qualification, there is zero or negative return on IQ within a country. That is to say, of two people of different IQ but same country and the same academic qualification, the smarter one will have similar or lower socioeconomic success. If we do not control for academic qualification, IQ still does not make a very large difference. Of two people of very different IQ, but the same country, and academic qualifications typical for their IQ, …
about one third banksters, two thirds …
The crisis is about one third theft by banksters, one third theft by rude, arrogant, and uncivil civil servants, and one third theft by the bastard spawn of welfare moms. The split is not between rich and poor, but between tax consumers and tax payers. I have emphasized the role of affirmative action loans in this crisis, and on the evidence, the great majority of the American dud loans were made to Hispanics – though it was highly profitable for …
If Keynesians believed what they say they believe …
Nobel prize winning economist Krugman tells us we need stimulus, that is to say, more deficit spending. Government needs to spend more to stimulate the economy, he tells us. Government spending puts money in peoples pockets. Then they spend stuff, so people get hired to produce stuff, so the newly employed get money too. Being employed rather than unemployed, they will produce and spend. So when the economy is in recession, government spending on pretty much anything is the best …
Decline of the west
The last man on the moon left in 1972 The tallest building in the united states was finished in 1974. Cars are becoming humbler. US electricity production was growing exponentially until 1972. After 1972 it grew more slowly. Per capita electricity consumption seems likely to have peaked around 2007 or so. Supposedly GDP is still growing rapidly, just as supposedly inflation is zero, but it seems improbable that GDP is growing when per capita electricity consumption is not. One could …
Like Hell There’s No Inflation
Business Insider tells us: Post Raisin Bran goes from 2.50 to 3.00 per box at Walmart. My favorite yogurt goes from .50 to .58 each at Walmart. Cherry tomatoes go from 4.98 to 5.98 per package. Walnuts go from 9.98 to 13.98 per bag at Sam’s. Bottom round goes from 2.48 to 2.68 per pound at Sam’s. Al Dente tells us What was once purchased for weekly meals at the supermarket for under $100, now exceeds $120. We have cut …
Hyperinflation coming, but not soon
There is a lot of ruin in a nation. Glen Bleck predicts catastrophic instant inflation completely collapsing the currency and government in a single two week crisis. That is not the way hyperinflation happens. Hyperinflation consists of a series of hyperinflationary crises. In a hyperinflationary crisis, the value of money falls abruptly, typically to two thirds, half or a third of its previous value. The collapse occurs so suddenly that by the time most people realize that the hyperinflationary crisis …
The party of the state
The number of federal workers earning $150,000 or more a year has doubled in the two years since President Obama took office Update: Bill however argues this is less alarming that it seems: The big jump in % over $150K is all from the fact that the GS scale maxed out less than $150K in 2005 and over $150K in 2010. It’s totally mechanical, an incident of drawing the line at $150K.