The Macroeconomics of Gold

Edmund Conway has an excellent discussion of the macroeconomics of gold for The UK Telegraph here, at the heart of which is this:

Enjoy!

Undecided Races Update: WA-2 Stays Democrat

Real Clear Politics shows the race as a Democrat hold this morning.

Politics Daily shows just 11 precincts left to be counted and 98% of the vote in with incumbent Democrat Larsen ahead of Republican challenger Koster by almost 5,500 votes.

That leaves the Republicans with a net gain of 61 seats in the US House, with 7 races still not called: CA-11, CA-20, IL-8, KY-6, NY-25, VA-11 and NY-1.

Obama Bows to Indian Parliament

The guards of a tyrant are foreigners.

Pilot Union President Urges Scanner Boycott By Pilots

In a story reported here, Captain Dave Bates objects to the scanners on both health and privacy grounds, conceding that the scans could be harmful not only to pilots but to frequent flyers, and that the opt-out procedure, the enhanced pat down, is so demeaning that if pilots have to go through that, it should occur out of view of the public.

So the guy thinks it's ok for the rest of us to get groped by uniformed government employees, and in front of everyone?!

What happened to equal treatment under the law, eh Captain?

Pilots should boycott both the scans and the pat downs, and so should the rest of us. Don't fly, period. That's the only way to get this madness stopped once and for all.

Was Centreville, Virginia, UFO Actually a Spy Drone?

The story about the appearance one day after the midterm election was reported here.

Here Come the Spy Drones

How long before they have backscatter scanners like the airports and mobile vans have to see through the roof of your home to search you without a warrant?

These aerial robots from England can hover silently for hours, and at only 3 feet in diameter can conceal themselves easily. Equipped with cameras and thermal imaging scanners, they can see you hiding in the bushes. They can track you as you drive, mow the lawn, go for a walk, or have a picnic. All your comings and goings, and those of your associates, can be tracked, recorded and studied without your knowledge or consent.

The story here says they're coming to the US.

Your freedom and privacy are being destroyed as we speak!

What are you going to do about it?

Start by boycotting every place where scanners are installed. That means not flying. And complain, loudly, until this is brought to a halt.

Of 8 More Close Uncalled House Races, 3 Look to go Republican

With a net gain to date of 61 seats, 3 more defeats of Democrat incumbents look possible.

Bloomberg.com reports similarly here:

“It’s expected that Republicans will hold on and pick up a total of 63 or 64 seats, though recounts can occasionally produce a surprise,” said Larry Sabato, director of the University of Virginia’s Center for Politics.

Vote totals taken from PoliticsDaily.com show Republican Vidak overturning Democrat Costa in CA-20 50.8% to 49.2%.

In IL-8, the Republican Walsh looks to overtake Democrat Melissa Bean 48.5% to 48.3% thanks to Green Party Scheurer siphoning off 3.2% on the Democrat incumbent's left. This was conservative Republican Phil Crane's old seat.

And in NY-25 the Republican Buerkle has a similarly razor thin lead over incumbent Democrat Maffei 50.2% to 49.8%.

Other races don't look as promising for Republicans, close as they are.

A constitutionalist third party candidate in CA-11 has managed 5% of the vote in a race leaning to the incumbent Democrat McNerney over the Republican Harmer by just .3%.

Incumbent Democrat Chandler in KY-6 has a .2% lead over Republican challenger Barr.

Three third parties in VA-11 have bled off 1.8% of the vote in favor of the Democrat incumbent Connolly vs. Republican Fimian who trails by .4% of the vote. Libertarian and Green parties strike again.

WA-2 is a different matter with 95% of the precincts reporting because of voting by mail. The Democrat Larsen is ahead of Republican Koster 50.7% to 49.3%.

The race in NY-1 has looked like Democrat incumbent Bishop's over Republican Altshuler 51% to 49% until the report of a closer count in the Bloomberg story. The Republican says many absentee ballots have not yet been counted. 

Third Party Candidates in Colorado Senate Race Hand Victory to Democrat Bennet

Where the difference between the Democrat winning and the Republican losing was only 16,000 votes.

The Independent Reform candidate, a self-described social liberal and economic conservative, in other words a libertarian, siphoned off 18,000 votes. A non-originalist crank, he thought two bad innovations of the past have been good for the country, as in this:

The graduated income tax and direct election of senators were originally third party ideas adopted by the major parties to win back votes.

The Libertarian Party candidate in the race bled off 21,000 votes.

Two unaffiliated candidates trying to capitalize on opposition to bailouts and ineffective stimulus spending siphoned off another 16,000 between them. One was a dope advocate who subsequently took credit for stopping the election of the Republican Buck.

That's 55,000 votes on the more or less economic right to the environmentalist wacko Greens on the left who bled off 36,000 votes of their own.

Stronger candidates from the two major parties admittedly would have reduced this hemorrhaging. On the right, however, it's evidence of the voters' justifiable distrust of the Republican commitment to economic conservatism. 

If You Opt Out of Airport Naked Scans, Prepare to be Otherwise Intimidated

From Joe Sharkey for The New York Times here:

I have always disliked uniformed authorities shouting at me. So I was unhappy last week when some security screeners at O’Hare International Airport in Chicago started yelling.

“Opt out! We got an opt out!” one bellowed about me in a tone that people in my desert neighborhood in Tucson usually reserve for declaring, “Rattlesnake!”

Other screeners took up the “Opt out!” shout.


Sheeple. Led to the slaughter.

TSA Fondles Women and Children Refusing Airport Naked Body Scanners

Resist the government and the airlines by not flying! Don't submit! Boycott air travel until the scanners come out! The terrorists are laughing at us.

See why here.

Traveling to India: Outlandish, Luxurious, Unprecedented

"Probably not since the days of the Pharaohs or the more ludicrous Roman Emperors has a head of state travelled in such pomp and expensive grandeur as the President of the United States of America."

-- The UK Daily Mail, here

4 Libertarians, 1 Conservative Cost Republicans 5 Victories in US House

In AZ-8, the Libertarian took 4% of the vote in a 2 point race between Democrat Giffords and Republican Kelly.

In IN-2, the Libertarian took 5% of the vote in a 1 point race between Democrat Donnelly and Republican Walorski.

In IA-1, the Libertarian took 2% of the vote in a 1 point race between Democrat Braley and Republican Lange.

In MO-3, the Libertarian took 3% of the vote in a 2 point race between Democrat Carnahan and Republican Martin.

And in NY-23, the Conservative Hoffman took 6% of the vote in a 2 point race between Democrat Owens and Republican Doheny.

By garnering less than 40,000 votes these pests managed to disappoint the hopes of half a million Republicans in just five races. Democrats just love third parties.

Pricks.

Net Republican Pickups 61

Republican pickups number 64 gross, but the net must subtract Democrat pickups, which were 3: the at-large seat in Delaware vacated by primary defeated Mike Castle in the Senate race, Abercrombie's seat in Hawaii only very temporarily occupied by a Republican, and Cao's seat in Louisiana, who lost as the only Republican voting for Obamacare.

So net 61 Republican pickups, as shown at Real Clear Politics, with 8 races still not called.

Uncalled Races Update

Looks like NY-1 all of a sudden goes into the undecided category, with Real Clear Politics this morning showing Bishop vs. Altshuler at 50-50.

The others are (Democrat vs. Republican):

CA-11, McNerney vs. Harmer, 48-47

CA-20, Costa vs. Vidak, 49-51

IL-8, Bean vs. Walsh, 48-49

KY-6, Chandler vs. Barr, 50-50

NY-25, Maffei vs. Buerkle, 51-49

VA-11, Connolly vs. Fimian, 49-49

WA-2, Larsen vs. Koster, 50-50.

So we're back to 8, not 7, uncalled. Republicans still have 64 pickups.

Jesse Kelly Loses a Heartbreaker in Arizona 8th

See his remarks here.

A third party Libertarian candidate bled off over 10,000 votes to allow the liberal incumbent Democrat Gabrielle Giffords to win by less than 4000 votes. Thanks a lot, pest.

That leaves 7 House races still not called. Republicans still have 64 pickups.

Better luck next time, Marine.

Keith Olbermann Suspended For Donations to Democrats

He who accused Fox of shilling for political causes has been doing it himself, contributing monies to three Democrats: Conway, Grijalva and Giffords.

The Democrat Way: Projecting failings onto others which are more true of oneself, aka hypocrisy, the pot calling the kettle black, and liberal projection syndrome.

Lovely.

CNN has the story here.

A Housing Lotto?

Reuven Brenner for Forbes thinks a lottery might be the solution to the foreclosure and shadow inventory mess. He got the idea from Thomas Jefferson:

Shortly before Thomas Jefferson died, he tried to pay debts that amounted to $80,000 by disposing of land he owned through the use of a lottery, a well-established method at the time. He explained the rationale for such financing: "An article of property, insusceptible of division at all, or not without great diminution of its worth, is sometimes of so large value that no purchaser can be found ... The lottery is here a salutary instrument for disposing of it, where men run small risks for a chance of obtaining a high prize."

Go here to read how Brenner thinks it could be made to work.

Republicans Should Invest in Tea Futures

The Washington Examiner weighs in on the breadth and depth of the Republican victory on Tuesday:

Republicans took control of at least 19 additional state legislative bodies Tuesday for a total of 26 in which the party controls both chambers, compared with 21 for Democrats and with three still up for grabs. ... These developments have national implications, especially for redistricting. According to the Republican State Leadership Committee, Republicans now will play a role in redrawing the boundaries of a whopping 314 congressional districts.

Lots more detail here.

Tuesday, In a Nutshell

From the inimitable Pat McIlheran, for the Milwaukee Journal Sentinel:

Nothing was so fatal to House Democrats, especially newbies, than to have voted for Obamacare. Dozens fell, including Rep. Steve Kagen (D-Appleton). The one Republican who favored it lost.

Running against it saved the jobs of 11 out of 34 Democrats who had opposed the bill, and a popular Democratic governor won West Virginia's Senate seat only after he reversed to say he'd oppose Obamacare.

In Wisconsin, the Senate race became a referendum after incumbent Russ Feingold stood firm for Obamacare. Victorious challenger Ron Johnson spent the campaign telling how it was the bill's passage that goaded him into running. At every turn, he said he was convinced it is a government takeover that will kill innovation.

He pointed out repeatedly that fear of the plan's costs were depressing the economy.

Johnson won, 52% to 47%.

You'll not want to miss the rest here. 

Why They Lost: House Democrat Casualty Lists for November 2, 2010

In politics it always pays to avoid controversy if you want to survive.

If I'm counting correctly, there are 64 Republican pickups from the Democrats in the House as of this morning over at Real Clear Politics, with 9 races still not called in Arizona (2), California (2), Illinois, Kentucky, New York, Virginia and Washington (Grijalva, Giffords, McNerney, Costa, Bean, Chandler, Maffei, Connolly and Larsen).

In 50 of these 64 races lost by Democrats, incumbents were defending seats, and 33 of those, or 66%, had voted FOR Obamacare in March, despite its unpopularity in the polls: Oberstar [L], Titus [f], Ortiz [L], Kirkpatrick [f], Mitchell [BD], Salazar [BDL], Markey [fBD], Pomeroy [BDL], Rodriguez [L], Hill [BDL], Boyd [BD], Klein, Spratt [L], Perriello [fL], Etheridge [L], Wilson [BDL], Boccieri [fL], Kosmas [f], Grayson [f], Halvorson [f], Foster, Hare, Schauer [f], Shea-Porter, Hall [L], Scott Murphy [BD], Driehaus [fL], Kilroy [f], Carney [BDL], Kanjorski [L], Dahlkemper [fBDL], Pat Murphy [fBD], and Kagen.

The remaining 17 incumbents lost despite voting AGAINST Obamacare: Minnick [fBD], Bright [fBDst], Sandlin [BD], Taylor [BDst], Nye [fBD], Boucher, Space [BDst], Marshall [BDst], Kratovil [fBD], Skelton [st], Childers [BDst], Adler [f], Teague [fst], McMahon [f], Arcuri [BD], Lincoln Davis [BDst] and Edwards.

20 of the 64 who lost were freshmen [marked f], representing 63% of the 32 freshmen elected with Obama in 2008, and 31% of the total.

Of 54 Blue Dogs on the coalition's list in March at the time of the Obamacare vote, 22 were defeated yesterday [marked BD], or 41% of that membership. 3 races were still too close to call: Chandler [st], Costa and Giffords.

Of 21 Stupak Amendment supporters who proved it by voting NO on Obamacare [marked st], 8 still lost yesterday. Of 32 more who proved they didn't really believe in the Stupak Amendment by voting YES on Obamacare [marked L], 16 lost.

The distribution of self-definitions shows that the group most likely to get booted was the fiscally conservative Blue Dogs (22 associations), undoubtedly because the voters saw that despite the self-identification their voting records were anything but fiscally prudent. "Methinks Thou dost protest too much."

Next most likely to get booted were freshmen (20 associations). Inexperience makes you vulnerable by definition. The vast majority of new business fails, which is why spawn are numbered in the millions.

Pro-lifers in name only come next in vulnerability (16 associations). It's best not to lie about matters so serious because you will be found out eventually.

The least vulnerable among these losing Democrats? Those who were pro-life and meant it (8 associations), and those who defined themselves not at all (7 associations).