Showing posts with label WSJ. Show all posts
Showing posts with label WSJ. Show all posts

Monday, September 15, 2025

Peggy Pot Noonan warned MAGA Kettle about emotionalism in July lol

 


 ... A last note. If I were a fervent Trump supporter, I would worry about that movement’s hyperemotionalism. We have written in this space that with the rise of social media, Americans are becoming a people of feeling and not of thinking, a people in search of sensation and not reflection. It isn’t promising that this is increasingly true in our political sphere. I follow on social media fixtures of the MAGA movement. They say of each other in public what in politics 40 years ago people said in private and when drunk. FRAUD, LIAR, GRIFTER, WHORE. What a hothouse. Do they expect that with a nature like that they can go into the future as a serious force and a movement that coheres? They don’t seem to worry about it. Why not? ...

Here.

And here she was the week before lol:

Isolationism is essentially emotional. You’re angry at the cost in blood and treasure of your country’s international forays and adventures and want to withdraw from the world. Emotionalism can hold sway and dominate politics for a time, even an era, but you can’t build anything on it. It doesn’t last because emotions change because facts change. ...

 

 

Sunday, September 14, 2025

It's an American tradition: Peggy Noonan loses her head

... We are in big trouble.

We all know this. We don’t even know what to do with what we know. But the assassination of Charlie Kirk feels different as an event, like a hinge point, like something that is going to reverberate in new dark ways. It isn’t just another dreadful thing. It carries the ominous sense that we’re at the beginning of something bad. Michael Smerconish said on CNN Thursday afternoon that normally after such an event the temperature goes down a little, but not in this case, and he’s right. There are the heartbroken and the indifferent and they are irreconcilable. X, formerly Twitter, was from the moment of the shooting overrun with anguish and rage: It’s on now. Bluesky, where supposedly gentler folk fled Elon Musk, was gleefully violent: Too bad, live by the gun, die by the gun.

But what a disaster all this is for the young. ...

 

No, we are not in big trouble.

We are simply in the same trouble we've always been in, but that doesn't sell newspapers or drive clicks.

But surrendering to hysteria will misguide us, as surely as Tyler Robinson's feelings misguided him when he pulled that trigger, allegedly.

Didn't the country just get over surrendering its mind to its feelings?

Or are we, left, right, and in between, going to do this all over again? 

Fear of death made 270 million Americans trust a completely novel vaccine in 2021, only for over 20 million new infections in early 2022 to rip the mask off the whole thing.

We found out that we were not going to die.

We found out that the experts oversold the threat and the vaccine, ka-ching ka-ching, that after taking it "the virus didn't stop with me". We got sick anyway, and we continued to spread it. The adults knew that the virus was mutating to spread at the cost of its deadliness, but the adults were not in charge. We ended up learning the hard way.

The virus of violence is endemic to the world. Woke is a counterfeit. Summer 2020 was not a summer of love. Christianity is Uberwoke and explains that hate lives in us all.

The spectrum of hate's evidence is wide: By intentional homicide rate, Canada ranks 111th in the world in 2023. Mexico ranks 18th, and the United States ranks 66th.

But in 1975 the intentional homicide rate in the United States was 9.6 per 100,000. 9.6 is 43rd in 2023, Iraq-like. In 2023 the United States is 5.8. The rate is down 40%.

We have become far less violent, not more, in the last fifty years, even as religious faith supposedly has declined.

Maybe we should rethink that. Or maybe for starters we should just think.

Brethren, be not children in understanding: howbeit in malice be ye children, but in understanding be men. 

-- I Corinthians 14:20 

Tuesday, September 9, 2025

The Wall Street Journal: Just 35% of high school seniors in 2024 were proficient in reading, and only 22% in math


 ... Twelfth-graders’ average math score was the worst since the current test began in 2005, and reading was below any point since that assessment started in 1992. The share of 12th-graders who were proficient slid by 2 percentage points between 2019 and 2024—to 35% in reading and 22% in math. ...

More.

And they can vote. 



Sunday, August 17, 2025

Monday, August 11, 2025

The Wall Street Journal's Greg Ip observes America under Trump becoming more like China under Xi

 Greg Ip
Recent examples include President Trump’s demand that Intel’s chief executive resign; the 15% of certain chip sales to China that Nvidia and Advanced Micro Devices will share with Washington; the “golden share” Washington will get in U.S. Steel as a condition of Nippon Steel’s takeover; and the $1.5 trillion of promised investment from trading partners Trump plans to personally direct.
This isn’t socialism, in which the state owns the means of production. It is more like state capitalism, a hybrid between socialism and capitalism in which the state guides the decisions of nominally private enterprises. 
China calls its hybrid “socialism with Chinese characteristics.” The U.S. hasn’t gone as far as China or even milder practitioners of state capitalism such as Russia, Brazil and, at times, France. So call this variant “state capitalism with American characteristics.” It is still a sea change from the free market ethos the U.S. once embodied.
We wouldn’t be dabbling with state capitalism if not for the public’s and both parties’ belief that free-market capitalism wasn’t working. That system encouraged profit-maximizing CEOs to move production abroad. The result was a shrunken manufacturing workforce, dependence on China for vital products such as critical minerals, and underinvestment in the industries of the future such as clean energy and semiconductors.
The federal government has often waded into the corporate world. It commandeered production during World War II and, under the Defense Production Act, emergencies such as the Covid-19 pandemic. It bailed out banks and car companies during the 2007-09 financial crisis. Those, however, were temporary expedients.
Former President Joe Biden went further, seeking to shape the actual structure of industry. His Inflation Reduction Act authorized $400 billion in clean-energy loans. The Chips and Science Act earmarked $39 billion in subsidies for domestic semiconductor manufacturing. Of that, $8.5 billion went to Intel, giving Trump leverage to demand the removal of its CEO over past ties to China. (Intel so far has refused.)
Biden overrode U.S. Steel’s management and shareholders to block Nippon Steel’s takeover, though his staff saw no national-security risk. Trump reversed that veto while extracting the “golden share” that he can use to influence the company’s decisions. In design and name it mimics the golden shares that private Chinese companies must issue to the CCP.
Biden officials had mulled a sovereign-wealth fund to finance strategically important but commercially risky projects such as in critical minerals, which China dominates. Last month, Trump’s Department of Defense said it would take a 15% stake in MP Materials, a miner of critical minerals.
Many in the West admire China for its ability to turbocharge growth through massive feats of infrastructure building, scientific advance and promotion of favored industries. American efforts are often bogged down amid the checks, balances and compromises of pluralistic democracy.
In his forthcoming book, “Breakneck: China’s Quest to Engineer the Future,” author Dan Wang writes: “China is an engineering state, building big at breakneck speed, in contrast to the United States’ lawyerly society, blocking everything it can, good and bad.”
To admirers, Trump’s appeal is his willingness to bulldoze those lawyerly obstacles. He has imposed tariffs on an array of countries and sectors, seizing authority that is supposed to belong to Congress. He extracted $1.5 trillion in investment pledges from Japan, the European Union and South Korea that he claims he will personally direct, though no legal mechanism for doing so appears to exist. (Those pledges are already in dispute.)
There are reasons state capitalism never caught on before. The state can’t allocate capital more efficiently than private markets. Distortions, waste and cronyism typically follow. Russia, Brazil and France have grown much more slowly than the U.S.
Chinese state capitalism isn’t the success story it seems. Barry Naughton of the University of California, San Diego has documented how China’s rapid growth since 1979 has come from market sources, not the state. As Chinese leader Xi Jinping has reimposed state control, growth has slowed. China is awash with savings, but the state wastes much of it. From steel to vehicles, excess capacity leads to plummeting prices and profits.
The U.S. hasn’t fared any better. Interventions made in the name of national security or kick-starting infant industries lead to boondoggles like Foxconn’s promised factory in Wisconsin or Tesla’s solar-panel factory in Buffalo, N.Y.
State capitalism is an all-of-society affair in China, directed from Beijing via millions of cadres in local governments and company boardrooms. In the U.S., it consists largely of Oval Office announcements lacking any policy or institutional framework. “The core characteristic of China’s state capitalism is discipline, and Trump is the complete opposite of that,” Wang said in an interview.
State capitalism is a means of political, not just economic, control. Xi ruthlessly deploys economic levers to crush any challenge to party primacy. In 2020, Alibaba co-founder Jack Ma, arguably the country’s most famous business leader, criticized Chinese regulators for stifling financial innovation. Retaliation was swift. Regulators canceled the initial public offering of Ma’s financial company, Ant Group, and eventually fined it $2.8 billion for anticompetitive behavior. Ma briefly disappeared from public view.
Trump has similarly deployed executive orders and regulatory powers against media companies, banks, law firms and other companies he believes oppose him, while rewarding executives who align themselves with his priorities.
In Trump’s first term, CEOs routinely spoke out when they disagreed with his policies such as on immigration and trade. Now, they shower him with donations and praise, or are mostly silent.
Trump is also seeking political control over agencies that have long operated at arm’s length from the White House, such as the Bureau of Labor Statistics and the Federal Reserve. That, too, has echoes of China where the bureaucracy is fully subordinate to the ruling party.
Trump has long admired the control Xi exercises over his country, but there are, in theory, limits to how far he can emulate him.
American democracy constrains the state through an independent judiciary, free speech, due process and the diffusion of power among multiple levels and branches of government. How far state capitalism ultimately displaces free-market capitalism in the U.S. depends on how well those checks and balances hold up.

Monday, July 28, 2025

LOL the Wall Street Journal found experts to say dynamic grocery pricing will never go up during the day between the aisle and the register

I remember the days when every grocery item came with a price tag. 

When those went away there was an outcry, saying shelf pricing would be manipulated to get you to buy the item at a lower displayed price but charge you more for it at the register because the price displayed was wrong.

You used to get the item for free if that happened.

Now it happens all the time, but all you get is a refund for the difference, IF YOU STAND IN LINE AT CUSTOMER SERVICE TO GET IT.

Every transaction is going to become a negotiation like we're a goddamn third world country. 

 

 Welcome to the Grocery Store Where Prices Change 100 Times a Day: Electronic shelf labels are spreading at grocery chains in Europe and the U.S., enabling instant price drops—and raising fears of surge pricing

... Prices can change up to 100 times a day at Reitan’s REMA 1000-branded grocery stores across Norway—and more often during holidays. The idea is to match or beat the competition with the touch of a button, says REMA 1000’s head of pricing, Partap Sandhu. “We lower the prices maybe 10 cents and then our competitors do the same, and it kind of gets to [be] a race to the bottom.”
 
It is a matter of time before Americans also see dynamic pricing on groceries, industry experts say. “All one has to do is visit the Netherlands or Norway,” says Ioannis Stamatopoulos, an associate professor who studies retail technology at the University of Texas at Austin’s business school. “That’s a window to the future.”
 
The prospect has raised alarms among U.S. lawmakers and consumers who fear electronic shelf labels in grocery stores will open the way for prices to go up as well as down—and even unleash surge pricing in the aisles. ...
 
As digital labels spread to U.S. stores, American consumers will likely see price changes as they shop in the future, says David Bellinger, a senior analyst at Mizuho Financial Group who covers retailers. He expects the changes will be infrequent or outside of store hours to avoid confusing or upsetting shoppers, and says they should primarily only go down: “Up would probably cause a lot of problems.” ...


Tuesday, June 24, 2025

Because the BBB is a GOP Christmas tree of policy-change goodies masquerading as a reconciliation bill

This was taken down pretty early this morning by the suck-ups at Real Clear Politics. I guess the bosses come in a little later than the help. 

This is arguably one of the best discussions of what is really going on that you will find. 

 
The estimate of the Senate Finance Committee’s tax provisions reflect a cost of $441 billion over ten years, according to the Joint Committee on Taxation’s estimate over the weekend. How, you might ask, could the Finance Committee have extended all the Trump tax cuts, expanded some of them, added a bunch of other new tax cuts, made some temporary business tax cuts permanent, and still only cost $441 billion? The trims to clean-energy tax credits and other rollbacks, you would presume, weren’t SO costly that they would nearly wipe out all of the costs!
 
The answer, friends, is a big gimmick known as the current policy baseline. Senate Republicans are claiming that, because the Trump tax cuts are in place now, as current policy, it costs $0 to extend them. An analogy would be if Congress passed a bill to institute Medicare for All for one day, at the cost of $4 to $8 billion, depending on your estimate, and then the next day they passed a bill extending M4A permanently, which would cost … nothing. The same Republicans who would scream bloody murder at that dastardly maneuver are the ones now employing this absurd maneuver.
 
The reality is that the Trump tax cuts, under a current law baseline that compares the policy to the change to current law, really cost $3.76 trillion over ten years. If you add that to the $441 billion estimate, you have a tax section that costs over $4.2 trillion. This is $400 billion higher than the House version that the Freedom Caucus already found intolerable, and that some self-styled Republican budget hawks in the Senate are grumbling about. ...

In most cases, the parliamentarian looks at whether provisions have a purely budgetary purpose, rather than policy dressed up as a budget item. (This is known as the Byrd Rule, after the longtime Democratic senator from West Virginia, Robert Byrd; the process by which the parties debate the provisions and by which a ruling is made is known as the “Byrd bath.”) ...

For context, the House version costs $3.3 trillion over a decade, according to the latest estimates. We’re verging on $4 trillion for the Senate bill—unless the Republicans’ wish to have the $3.7 trillion in tax cuts entered as zero passes muster with the parliamentarian. ...           

Update Wed Jun 25:

Real Clear Politics put this back up in the rotation this morning, lol. 

Yeah, what a hero Trump is, they should give him the Nobel Peace Prize

 From the suck-ups at Real Clear Politics this morning:

Miranda Devine, New York Post
 

Monday, June 16, 2025

Israel states that one third of Iran's ballistic missile launch capability has been destroyed

 It took Israel just two days to get control of the skies over Western Iran. With that accomplished, destroying the rest of the launchers should come more easily.

 


 

 

Tuesday, June 3, 2025

Low-inertia renewable energy systems are prone to blackouts such as in Spain in April because they cannot maintain stable frequencies in the absence of high-inertia fossil fuel, hydro, and nuclear energy systems

 The Physics Behind the Spanish Blackout: Madrid knew solar and wind power were unreliable but pressed ahead anyway.

When a grid failure plunged 55 million people in Spain and Portugal into darkness at the end of April, it should have been a wake-up call on green energy. Climate activists promised that solar and wind power were the future of cheap, dependable electricity. The massive half-day blackout shows otherwise. The nature of solar and wind generation makes grids that rely on them more prone to collapse—an issue that’s particularly expensive to ameliorate. ...

Grids need to stay on a very stable frequency—generally 50 Hertz in Europe—or else you get blackouts. Fossil-fuel, hydro and nuclear generation all solve this problem naturally because they generate energy by powering massive spinning turbines. The inertia of these heavy rotating masses resists changes in speed and hence frequency, so that when sudden demand swings would otherwise drop or hike grid frequency, the turbines work as immense buffers. But wind and solar don’t power such heavy turbines to generate energy. It’s possible to make up for this with cutting-edge technology such as advanced inverters or synthetic inertia. But many solar and wind farms haven’t undergone these expensive upgrades. If a grid dominated by those two power sources gets off frequency, a blackout is more likely than in a system that relies on other energy sources. ...

Just a week prior to the blackout, Spain bragged that for the first time, renewables delivered 100% of its electricity, though only for a period of minutes around 11:15 a.m. When it collapsed, the Iberian grid was powered by 74% renewable energy, with 55% coming from solar. It went down under the bright noon sun. When the Iberian grid frequency started faltering on April 28, the grid’s high proportion of solar and wind generation couldn’t stabilize it. This isn’t speculation; it’s physics. As the electricity supply across Spain collapsed, Portugal was pulled along, because the two countries are tightly interconnected through the Iberian electricity network. ...

Sunday, June 1, 2025

Ah, so Republican pinhead Joe Concha thinks a Democrat win in 2026 would be a loss lol

Joe Concha never really does get to his point in this column, but he does spread a lot of nincompoopery about like so much manure on a field.

This is the guy who masked himself and his kids while outdoors during COVID-19 because his wife is a doctor and told him he had to, which is very amusing given Joe's interest in Democrats' inability to "connect" with young men.

Joe Concha lives in an imaginary world of fanciful creation and takes his marching orders, repeating stupid.

Trump's mandate, for example, "the greatest verdict in history" he says, in 2024 was actually smaller than W's in 2004.

Even Jimmy Carter's was bigger in 1976 than Trump's was in 2024.

Core pce inflation released this past week came in at 2.52%, not 2.1% as Joe says. Joe wouldn't know core if he ate an apple.

Just 49.6% had full time jobs in April 2025 vs. 50.4% in April 2023, 0.8 points lower than two years ago.

Also two years ago, unemployment was 0.8 points lower at 3.4% than Joe Concha's current "historically low" level, again having touched a level under Joe Biden not seen since May 1969.

Joe stealing glory from Joe. Tut-tut.

Democrats may have had trouble connecting with young men in 2024, but the Biden administration really did drop the bigger ball of communicating its record of historically low unemployment. The Wall Street Journal trumpeted it for them in 2023, but you'd hardly remember the fact.

Meanwhile Joe Concha's "respected" GDPNow model got 1Q2025 GDP wrong by 2.4 points lol.

With an actual negative print now at -0.2% for the first quarter, the set-up for a dead cat bounce in 2Q would seem obvious.

But you never know with Trump in charge, and for my money you have to bet against Mr. Unpredictable. 

If Jonathan Swift were here, he might say that it is the Republicans who are led by a changeable female mind, not the Democrats, which may be why Joe Concha likes him so:

The current of a female mind stops thus,
and turns with ev'ry wind;
Thus whirling round, together draws
Fools, fops, and rakes, for chaff and straws.

 

 

Saturday, May 3, 2025

Trump's tariffs will bankrupt thousands of American businesses and millions will be unemployed as a result

 So says Ryan Petersen, founder and CEO of Flexport, in The Wall Street Journal, here:

... If the tariffs on Chinese goods continue at this rate, he says, thousands of American companies will fail and millions of employees will lose their jobs. ...

When the pandemic clogged up supply chains, he rented a boat so he could tour the Port of Long Beach, Calif., and see the bottlenecks for himself.

When he’s not cruising around ports for information, he’s getting it directly from his company’s 13,000 customers. They are companies that sell electronics, furniture, clothing, toys, diapers, pet feeders—basically everything. He makes it a priority to talk with as many of them as he possibly can. ...

This past week, he traveled from San Francisco to Washington, D.C., where he spent two days meeting with government officials to make the case that tariffs pose an existential threat to his customers. ...





Thursday, April 24, 2025

A Trump-appointed judge has ordered another Venezuelan wrongly deported to El Salvador returned to the United States

 ... U.S. District Judge Stephanie A. Gallagher in Baltimore on Wednesday ruled that removing him without a chance to complete his asylum petition or challenge his deportation violated the settlement agreement. Cristian, and any other person who had been removed in violation of the settlement agreement, should be returned, she said. ...

More.



Thursday, April 17, 2025

Wanting to capture power is about the least conservative thing about today's right wing

 More recently, far-right writers like Curtis Yarvin, who’s influenced Vice President JD Vance, have talked about how to capture power through a culture war. “This war is not fought with bombs and bullets, or even laws and judges,” Yarvin wrote in 2022. “This war is fought with books and films and plays and poems. It is still a savage war!”

Here.

As if power were an object outside oneself, a thing to be grasped, as opposed to something one already possessed in one's very self.

This objectification of power as outside oneself is a confession of weakness, a sign of spiritual decadence. 

Power in one's self is expressed as self-mastery and contentment. That kind of power, subjective power, radiates outward and masters its environment naturally. It doesn't need to run for office, or want to.

There is a dearth of such individuals in the country now, which is the actual problem, not that the minority which still exists doesn't rule.

Generally speaking you cannot impose virtue from the outside and make it stick. You have to change yourself.

Conservatives are stuck on a derivative. Culture is downstream from the cult. They need to swim upstream and find it.

Monday, April 7, 2025

Car manufacturing jobs, so-called good jobs, already don't pay enough to enable these Detroit auto workers to buy their own homes and have families, and they fear layoffs because of the tariffs

 The Wall Street Journal doesn't mention it here.

This guy's been working for the company for 10 years and he's still renting.

... Daniel Campbell, who maneuvers steel auto parts around a Stellantis factory north of Detroit, says he and many of his colleagues are worried about layoffs.

“I’m scared,” he said from his brick bungalow on the west side of Detroit, which he rents with two roommates. “We’re complaining about gas and eggs now. Who is going to be able to buy these cars that are already $80,000, and then you make it $90,000?”

The 46-year-old UAW member, who makes about $30 an hour, and one of his roommates have talked about trimming their spending, including eating out less and cutting clothing and electronics purchases. 

“There’s going to come a time where we’re not going to be able to go and spend,” he said

 At work, the assembly lines have been running faster in recent weeks as Stellantis has tried to stockpile parts ahead of the tariffs, Campbell said. He and his co-workers are running out of room to store the parts. ...

Monday, March 31, 2025

Marine Le Pen sentenced to jail in France, barred from running for office in 2027

 Marine Le Pen Sentenced to Prison, Banned From Next Elections Over Embezzlement

... Judges handed down a sentence Monday that bars Le Pen from seeking public office for the next five years, upending France’s political order and thrusting her far-right party into limbo. Le Pen also received a four-year prison sentence, half of which was suspended. The ruling takes Le Pen out of contention for the 2027 race, when President Emmanuel Macron finishes his second and final term and she was expected to be the front-runner. ...

Friday, February 14, 2025

Former S&P sovereign bond unit executive who participated in the Obama era 2011 credit downgrade basically calls Trump's America a banana republic, and DOGE not a proper government department

 WSJ: What about DOGE’s accessing the Treasury Department’s payment system?

Kraemer: We don’t have all the details of what they took and on what basis. It seems highly irregular. People from a department, which is not even a proper government department, that have gone and gotten access to data, that we have to assume is quite, I should say sensitive, which doesn’t belong in the hands of unelected individuals. 

WSJ: Have you ever seen anything like this before?

Kraemer: Yes, I think I have seen this. Regimes that don’t respect checks and balances. But they tend to be more in the emerging markets. This is exactly what sets rich and poor countries apart, right? It’s the qualities of institutions, the rule of law, the transparency of decision-making. 

So have I seen this? Yes. But have I seen it in an advanced economy, in an OECD member country? No, I have not.

The whole thing is here.

Saturday, February 8, 2025

Obama appointed judge, Paul Engelmayer, issues sweeping order banning Musk and his allies from accessing the US Department of Treasury payments system

 Federal Judge Blocks Elon Musk’s DOGE From Treasury System: Order requires those who have accessed payment records without proper security clearance to destroy them

A federal judge in New York temporarily restricted the ability of Elon Musk’s Department of Government Efficiency to access the Treasury Department payment system, saying that doing so was necessary to prevent the potential disclosure of sensitive and confidential information. 

The early Saturday order by Judge Paul Engelmayer, an Obama appointee, precludes officials without proper background checks and security clearances from accessing the payment system through at least next Friday, including political appointees and special government appointees. It also orders any prohibited person who has had access to the records since President Trump’s inauguration to destroy them. The judge set a hearing for Friday.

Some 19 blue-state attorneys general filed the case Friday evening, saying that Musk’s DOGE initiative risks interference with the payment of funds appropriated by Congress. 

Engelmayer said the states were likely to win on arguments that the Trump administration exceeded its authority in allowing broader access to the payment system. He also said the states faced irreparable harm without court intervention for now, including “the heightened risk that the systems in question will be more vulnerable than before to hacking.” ...

Well thank God.

None of these people have security clearances. The say so of President Trump is not a security clearance.