That makes 5 vice presidents who have left in 3 months: Two Tesla Production Chiefs to Leave Ahead of Model 3 Ramp-Up

I have to admit I do love the gull wing doors. However the last taxpayer backed car with gull wing doors didn’t do so well.

We’ve said before that Elon Musk isn’t a crony king (other people hold that crown) but more of a crony prince. But he is a crony to be sure (no matter how much good press he gets) as many of his most famous endeavors hinge on government (taxpayer) funding. Tesla,

Read More

‘Our economic system is designed to fail’ – Ron Paul

Indeed it is. Central planning always fails and make no mistake in many ways our economic system is “planned.” Not in the sense that it was planned in the Soviet Union but planned and controlled by the Federal Reserve through the manipulation of interest rates. The Fed creates malinvestment by trying to juice the economy. People over invest with cheap credit on office buildings, homes, cars, infrastructure projects and so on. Then when the reality of the economy hits this juiced economic situation failure occurs broadly.

Read More

CIA director: There’s no need to release the 28 classified pages of the 9/11 report

Director Brennan says that it would be “unhelpful” to release the 28 pages of the September 11th report which some say implicate or at least connect official Saudidom.

My question is,”To whom would such declassification be unhelpful?” I’d say it might be quite helpful to historians and the American people who would like to get a complete picture of what happened on that day. On the other hand it might be unhelpful to people who would prefer to keep history muddled.

Read More

Puerto Ricans Are Fleeing The Island En Masse As Debt Crisis Worsens

One can not blame these people. Call them internal economic refugees. It’s not unlike other parts of the United States where big local government and unsustainable patronage structures have collapsed. Puerto Rico is kind of like Detroit with palm trees in many respects.

The solution for Puerto Rico is similar to the solution for Detroit too. Basically they need to come to terms with default. The massive government employee system has to implode and a new economy, a free market,

Read More

Chicago’s corruption tour for tourists

This guy (or someone like him) should set up one of these in Washington DC. I’ll bet it would do serious business. No joke. I’d go on it and I go to DC all the time. Just start at the Watergate and work one’s way to the Capitol.

As for Chicago it’s pretty amazing the amount of corruption which comes from the place. Some people even believe that Nixon would have been president in 1960 if it were not for vote rigging in the city.

Read More

It’s time to end Nerd Prom (The White House Correspondents’ Dinner)

The dinner in a nutshell.

I hate the term “nerd prom” anyway. It’s such baloney. It’s self aggrandizement veiled in false modesty. The people who attend the dinner aren’t “nerds.” They don’t think of themselves as “nerds.” They are social climbing politicos. Throw in the Hollywood people and the whole thing is practically insufferable. Bill Press agrees.

Read More

The House of Representatives Just Fashioned A Heavily Overspending, Pork-Filled Defense Bill

No one in Washington really seems to care about reining in the size of government. (There is a tiny minority.) The Dems want welfare and corporate welfare. The Republicans want corporate welfare and “defense” spending. There is no real effort to save money for the taxpayers. And the thing is many supposed small government “conservatives” give “defense” a pass on spending. Much of the military is chock full of boondoggles. Anyone who has been around the military (and I am a Navy brat) knows this.

Read More

Buffett says if the government did THIS the Dow could hit 100K

Savers, you can forget about opting out of the stock market. If you want any kind of return you will get in the market and you will like it. So what if artificially repressed rates are crushing you? So what? Do you think you matter? Most of you savers will be dead soon anyway. You and your bank CDs. How quaint. Now pony up and buy some more stock grandma. Oh I’m sorry? You think there’s too much risk in the market?

Read More

More implosion in Detroit: City closes 94 schools due to teacher sickout

At least it’s warm in Puerto Rico.

4 years ago we argued that Detroit ought to just declare itself a “free zone.” Cut taxes to nothing. Make the city a business friendly place in stark contrast to what it was before. The former metropolis literally has nothing to lose. Big government failed (as it always does eventually), let free enterprise come in and maybe there is a chance for something like a renaissance. A chance. (Which is more than the place has now.)

We knew of course that our calls would likely not be headed,

Read More

It will be hard for some but we must let Puerto Rico default, no bailout. Same goes for Illinois, other states

The refrain from politicians and Wall Street has now become all too familiar.

Bail us out or the world will blow up! Financial dysfunction will catch like wildfire. If you don’t give us piles and piles of money (taxpayer money of course) you may just wake up to a world which is a smoldering cinder. It will be Mad Max in the streets. The sun will go down and never come up. In short, do YOU Mr.

Read More

George F. Will: What Happens In Puerto Rico Won’t Stay There

(From The Investors Business Daily)

Puerto Rico, an awkward legacy of America’s 1898 testosterone spill, the Spanish-American War, is about to teach two things that few Americans know: If conditions get bad enough there, its residents, who are American citizens, can come here. And if Congress does not deal carefully with the mess made by the government in San Juan, Congress will find itself rescuing governments in Springfield, Ill., and other state capitals…

…But some Democrats — perhaps anticipating a day of reckoning for their one-party state of Illinois,

Read More

($86 million) DEA drug fighting plane doesn’t fly

This is the sort of thing which really gets me. That 86 million was spent but the taxpayers got nothing for it. People got paid. Contractors went to work. Checks were issued. But nothing tangible. And the thing is this sort of thing probably (well, we know) happens all over the place. These projects just get lost in the giant government mix. No biggie. It’s just the taxpayer’s money. (Not that anyone in government seems to think like that anyway.)

(From The Washington Post)

The plan was for DOD to modify a DEA plane to be used in counter-narcotics operations in a combat zone.

Read More