Golf, as I have written before is a wonderful game. It is a thinking persons game. It is profoundly challenging and one can play it practically until they cart you away to the afterlife clubhouse. That Obama also likes golf is one of the few things on which he and I could (in theory) relate. (My usual go to with my “progressive” friends is classic rock. If one can drink a beer, keep one’s politics in check for a couple of hours and talk T-Rex and The Kinks we can be friends.) That he has played as much golf as he has in his presidency I also see as a positive.
Socialism fails sooner or later. The key factor is the degree an economy is infected with socialism. A moderate amount of socialism (that is anti-price government intervention) means a moderate collapse eventually. Total socialism means total collapse of the economy eventually.
There are 2 very important variables in this simple equation however (there are of course more than 2, but these are the biggies) and that is how much fear a regime can induce in the population, and how far a regime is willing to go to stay in power.
Football was the only sport I was ever really good at and I used to love it. (Though I abandoned playing by junior high.)
I was a pretty good soccer player. I loved and love surfing, though at my very best I still wasn’t an “A” or even “B+” level surfer. I’m a reasonably good golfer. I used to play a lot of tennis. But football was the only sport where there was even the glimmer of something extraordinary for me.
This is where political correctness (a term coined by Marx) which is a type of religion, has taken us.
Science is racist. Just what South Africa needs, people who think witchcraft (which is indigenous) is equivalent (superior?) to the scientific method. Why? Because science is “Eurocentric.”
This kind of thinking ought to work out great for the country.
But the smug ignorance displayed by the woman in the attached video is the same I see displayed by some Americans on the “Left”
The War on Cash is on. The opening salvos were launched months ago, and now we are getting into the meat of the campaign which is being driven by central banks, governments, and by industry. They all want to kill cash.
The central banks hate cash particularly because it limits their power. There is real concern that in the event another significant recession rolls around central banks will have a hard time pushing down interest rates,
Modern China is driven by central planning and a deeply crony culture. Interestingly the country has succeeded in reinflating its housing bubble. I say reinflate because about a year and a half ago things looked like they were really going to bust. (Thanks to the unsound monetary policy that created the initial unstable boom.) Then the government and the banks intervened (in typical central planner fashion) and we’re off to the races again. The government delayed the inevitable. But the debt monster lurks,
Now before I get into it let me state that I love many big cities. Part of my family is from Manhattan. I continue to enjoy New York. It’s great in many ways. I enjoy the Village, and the art, and the street food, many things. I am also one of the few small government people one is likely to meet who really enjoys San Francisco. As dirty as the place can be it is also beautiful with a great mix of influences from around the world but particularly from across the Pacific.
Click HERE for a highly detailed and interactive map of the Syrian conflict.
Russia is one of the world’s chief crony capitalist states. China’s probably number one but Russia is right on up there. Of course we live in a global crony system which we should keep in mind, but Putin’s cadre of oligarchs is a particularly nasty club. Or gang. Of course the world is filled with gangs. (It likely will always will be, though some “gangs”
We have said before that no Fed Chair was ever “free market.” This absolutely includes Mr. Greenspan. His legacy is one of a price fixer, an economic manipulator, a bubble blower, and ultimately one who in many ways ushered in the crony era we live in today.
But as we see in the attached piece from Sebastian Mallaby, Allan Greenspan, the one time “Maestro,” knew better all along. He knew that Fed policy could and typically did destabilize the real economy.
I actually don’t see this as all that bad. If I was young (alas I am no more) and single (and I mean no girlfriend) I’d consider doing this for a while. Of course I also used to have a 1978 VW bus and was prone to following the waves up and down the East Coast in another life so maybe I’m an outlier.
This is not my old bus but it looked just like this. 60 MPH was the top speed.
Oh thank goodness, the public pension unicorn has come to save us!
Many people still don’t know that the bailout of GM and Chrysler was about bailing out politically important UAW union members with your money as much as it was about bailing out of 2 inferior car manufacturers with your money. (Though I must admit I had a Town and Country van that was pretty good – mostly. Not like my Honda, but still pretty good.)
For years prior to the 2008 Crash financial people had hemmed and hawed about the unsustainability of the auto worker’s pensions.