Tuesday, March 6, 2012

Everything You Need To Know About Gerald R. Ford

"Reagan’s uncommon good sense extended to sound judgments about controversial people who were similarly outspoken and principled—and thus unpopular if not under constant fire. He was an early supporter of Pat Moynihan’s courageous efforts to end decades of hypocrisy at the United Nations—at a time when even many Republicans still viewed the institution as a sacred cow. Jeanne Kilpatrick’s contentious, but insightful distinctions between Stalinists and right-wing dictators abroad won over an unabashedly supportive Reagan. He praised Soviet dissidents—even as a cautious Gerald Ford refused to meet with Aleksandr Solzhenitsyn. When William Bennet was taking a beating for his unsettling honest talk about the corruption in our schools and universities, Reagan brushed off worries that his Education Secretary was becoming a political liability."

-- Victor Davis Hanson, here

The American Working, Middle and Upper Classes By Income

The working class pulls in about $2 trillion annually and includes all earned compensation up to $45,000 per year. This group forms the broad base of the American people, numbering nearly 107 million strong, or 71 percent of all workers in 2010.

The middle class also pulls in about $2 trillion annually and includes all compensation from $45,000 up to $100,000 per year. This group is represented by 34 million individuals, or 23 percent of all workers in 2010.

The upper class, too, pulls in about $2 trillion annually and includes all compensation from $100,000 to $50 million and beyond! 9 million individuals represent this group, which is just 6 percent of all workers in 2010.

GOP Delegate Snapshot Going Into Super Tuesday: 437 Delegates At Stake Today

From The Wall Street Journal, here:

Monday, March 5, 2012

Obama's Indonesian Nanny Was A Man Who Thought He Was A Woman

As reported here by ABC News:

And so it was, at a cocktail party in 1969, that she met Ann Dunham, Barack Obama's mother, who had arrived in the country two years earlier after marrying her second husband, Indonesian Lolo Soetoro.

Dunham was so impressed by Evie's beef steak and fried rice that she offered her a job in the family home. It didn't take long before Evie also was 8-year-old Barry's caretaker, playing with him and bringing him to and from school.

Neighbors recalled that they often saw Evie leave the house in the evening fully made up and dressed in drag. But she says it's doubtful Barry ever knew.

"He was so young," says Evie. "And I never let him see me wearing women's clothes. But he did see me trying on his mother's lipstick, sometimes. That used to really crack him up."

When the family left in the early 1970s, things started going downhill. She moved in with a boyfriend. 

A Depression in Full-Time Jobs: Over 6 Percent Fewer Than in 2007

Full-time jobs reached a peak measurement on November 1, 2007, at 121.875 million.

On January 1, 2012, full-time jobs had declined 8.03 million to 113.845 million, a fall of 6.6 percent.

The last time full-time employment stood at a similar level to today was November 1, 2003 when 113.892 million people had full-time work.

View the graph and data here.

Part-Time For Economic Reasons Still Over 97 Percent Higher Than in 2007

Part-time employment for economic reasons reached an all-time high of 9.25 million persons as measured on September 1, 2010.

On January 1, 2012 the level still stood at 8.08 million persons, over 97 percent higher than the level measured as recently as February 1, 2007, when the measurement stood at 4.09 million persons.

View the graph and data here.

Part-Time Employment Has Fallen Over 7 Percent From 2007 Peak

Part-time for non-economic reasons reached a peak measurement on March 1, 2007 at 19.75 million persons. On January 1, 2012 the measurement stood at 18.29 million.

View the graph and data here.

Sunday, March 4, 2012

Romney in 2009 Openly Favored Tax Penalties To Make People Buy Health Insurance

Romney's op-ed from USA Today is reproduced here.

The relevant portion below is argued in opposition to strong efforts at the time, particularly in the US House under Nancy Pelosi, to pass a healthcare reform bill which included the public option, or government insurance.

Romney's idea, as with RomneyCare in Massachusetts, was to shun the public option in favor of mandated purchase of privately supplied health insurance, under penalty of a tax, which is what we got with the Senate version of healthcare reform now known to us as ObamaCare, under which the tax is called a fine in order for the president to be able to claim that he does not raise taxes on ordinary Americans:

"Our experience also demonstrates that getting every citizen insured doesn’t have to break the bank. First, we established incentives for those who were uninsured to buy insurance. Using tax penalties, as we did, or tax credits, as others have proposed, encourages “free riders” to take responsibility for themselves rather than pass their medical costs on to others. This doesn’t cost the government a single dollar."

As many have been maintaining, Romney's reasoning shows no essential disagreement with ObamaCare. Romney favors government compulsion in healthcare.

Saturday, March 3, 2012

Real 2011 GDP Finally Exceeds Real 2007 GDP, But Only By 0.83 Percent

The data were found at the Bureau of Economic Analysis here:

YEAR   REAL GDP (2005 chained dollars)

2007       $13.21 trillion
2008         13.16
2009         12.70
2010         13.09
2011         13.32

And On What Will Santorum Run If The Supremes Find The Mandate Unconstitutional?

Sen. Santorum believes the issue of this election season is authoritarianism in government, as quoted here in The Weekly Standard:


". . . Obamacare. That is the biggest issue in this race. It’s an issue about fundamental freedom. It’s an issue about whether you want the government to take your money, and in exchange, give you a ‘right’….But, of course, when the government gives you a right, they can take that right away. And when the government gives you that right, they can tell you how to exercise that right. And they do — not just what doctors you can see and what insurance policies [you can buy], or how much you’re going to get fined if you don’t do what the government tells you to do, but even go[ing] so far as to tell you how to exercise your faith as part of your health care....If the government can go that far with Obamacare, just think what’s next.”

Friday, March 2, 2012

"The Whole Community Should Mutually Accuse and Come to Blows With Each Other"

Just one of the many ways a tyranny maintains itself in power, according to Aristotle.

In our case, bring up women's rights and "health" and make them an issue when they weren't.

A house thus busy being divided against itself is a house which cannot unite in revolt against its master. And what better way to divide the house than according to nature, the division between the sexes?

Another form of Locke's "crossing nature".

Santorum Bashes Everyone But The Prime Culprit: George W. Bush


Why bash John McCain, Bob Dole and George H.W. Bush?

I don't recall any of these claiming to redefine the Republican Party like W did. And all three of them served honorably in war, one as a prisoner of war, one maimed by war, and one a practised parachutist under fire. W did none of that. And neither did Santorum. 

OK, maybe Herbert Walker came close to an ideological make-over with that kinder, gentler, shtick, but we all know he didn't really mean it. He was not really into that vision thing. But W was full of hubris and said the conservative movement was OVER and that HE would establish a new meaning for it going forward, which boiled down to nothing more than personal loyalty. He must have learned that from the Democrats.

And I don't recall any of these also-rans abandoning free market principles to save the free market like W did. You can rightly say the objects of Santorum's ire represented tax collection for the welfare state, but at least they made a show of being capitalists. George W. Bush, a failed capitalist before he became president, ended his presidency the same way.

W was a knee-jerk liberal on immigration, welfare for the poor and for seniors, and on exporting the American way. A real conservative ought to say so. Rick Santorum never will.

A Lovely Question: Why Is Interest Income, Perhaps 10 Percent of GDP in the Past, Trivial to Savers but Ever So Important to Banks?

Jeffrey Snider wants to know, here:


I think everyone understands that credit is vital to businesses, but they also intuitively understand that customers are probably more vital (and the largest problem for businesses of all sizes since 2008). I don't think Chairman Bernanke can claim that interest income is trivial and therefore not really a consideration, both in an empirical sense (the numbers don't bear that out, especially at the margins) or, perhaps more importantly, in the perceptions of the voting public. If he does, then why is such a trivial amount to savers so important to banks? It cannot be the money multiplier effect since bank net income (the pivot in this trade-off) plays no role in that presumed multiplier - ZIRP is a technique of expanding bank balance sheet capacity. It is the method of circulation that is at issue here, and the Fed and its global central bank cousins are placing all their chips on circulating money indirectly through credit creation. If that is a superior option, then they should be able to demonstrate it.

Obama's New Campaign Slogan

A Volt in every garage and a condom in every pocket.

Thursday, March 1, 2012

ObamaCare Inspires Fear For The Sake Of Making A Contract, Violating The Law

This is what ObamaCare does: It threatens with a fine the person who fails to make a contract with an insurance company.

"[I]n the freedom of choice there ought to be a kind of equality between the contracting parties. ...[N]o fear should be unjustly inspired for the sake of making the contract, or, if such fear has been inspired, that it should be removed."

-- Hugo Grotius, On Contracts, The Law of War and Peace, Book 2, 12, X (1625)

ObamaCare Violates Centuries of Contract Law: The Mandate is Equal to Duress

It's so simple a child could tell you that, but to date no legal wizard from Harvard, Yale, Chicago, or Stanford has been able to put his finger on it quite so well as this wonderful stroke of genius distilled in a newspaper from the American heartland of genius, Virginia:

From Hugo Grotius in the 17th century through William Story in the 19th and up to the present, legal doctrine has held that contracts are not valid unless they are entered into by mutual assent. If one party signs a contract as the result of fraud or under duress, it cannot be valid. But if Congress compels people to buy insurance policies — not as a precondition of exercising a privilege such as driving, but as a consequence of having been born — then, the [I]nstitute [for Justice] argues, this would undermine centuries of contract law.

All those law degrees, wasted.

If they were smart they would ask for their money back.

Now why didn't The Heritage Foundation realize this back in 1989 and save us from all this trouble from HillaryCare through RomneyCare and ObamaCare?

After all this time America is still little more than a backwater in the intellectual history of the West. Progressivism. Bah! Humbug!

Wednesday, February 29, 2012

This is an Unpaid Ad for The True Born Sons of Liberty

GO TO HELL, BARACK.

Oil Price To Crash By Fourth of July?

Chris Cook thinks so, maybe even to $60, here:

In my analysis, absent a massive, and sustained, shortfall in oil supplies – which I cannot see occurring, since all involved have every interest in ensuring it does not occur – the oil price will, as I have already forecast, fall dramatically by the end of this year’s second quarter at the latest. It’s not a matter of if, but when it will happen.

That implies gold at $900 the ounce.

I can wait four months.

Q4 2011 GDP, Second Estimate, Up .2 to 3.0 Percent, Q3 at 1.8 Percent

So reports the Bureau of Economic Analysis, here.

The revision up does not move the needle up on overall 2011 GDP, which was a pathetic 1.7 percent.

Occupy Portland Vandalizes Two Banks and a Starbucks

Anti-capitalists, they call themselves:

Police said they received an e-mail that said it was from "Some Of Those Responsible" and read in part, "about an hour and a half ago (around ten pm, Tuesday night) a group of anticapitalists rolled up on the US Bank at SE 39th and Main and smashed out its windows and ATMs." ...

Police said a second e-mail was received after the Key Bank branch and Starbucks locations were vandalized, which read in part, "wherever capital chooses for its bunker, we will be there to attack it in the night." It was signed "For freedom, for equality, for anarchy".

Story, here.

A Chase branch and a Wells Fargo branch were vandalized last November (story here).