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Thought for the day

We live in a world where the central bank (Fed) *rigs interest rates low, in order to rig debt levels and asset prices high* as they can possibly go.

I know it’s abstract and I comment on it ad nauseum, but I’m not sure it can be over-stressed. It has lots of bad effects.

  • You think homes are unaffordable, compared to (say) 20-40 years ago? Guess why home prices aren’t a good deal lower. (There are many reasons – but try guessing the biggest.)
  • Feel hopeless about your ever retiring? Take a guess why retirement income is hard to come by.
  • Feel like you struggle to make ends meet every month, while wealthy people (having lots of financial assets) keep doing better and better? One more guess why.
  • Feel like new, good jobs are impossible to come by? The Obama administration (including Obamacare) is a big drag, there. But the Fed doesn’t exactly help.
  • Feel like the stock market is a crazy bubble again? Feel like we learned nothing from the 2008 crisis, and our economy is still much too ‘financialized’ and debt-ridden? Again, many causes – but one guess as to the top cause…

Interest rates are the most important price in the economy. They should be set by the People in free markets. I see no reason to have a Politburo which plans them – and plans them badly, in ways that injure society.

Someone Thinks Pretty Highly of Himself

Posted by V the K at 10:29 am - April 16, 2014.
Filed under: Liberals

Michael Bloomberg, former Mayor of Munchkinland New York City, doesn’t have to use fossil fuels to heat his massive estate; his ego is plenty sufficient.

Pointing to his work on gun safety, obesity and smoking cessation, he said with a grin: “I am telling you if there is a God, when I get to heaven I’m not stopping to be interviewed. I am heading straight in. I have earned my place in heaven. It’s not even close.”

I am reminded of a quote from C.S. Lewis.

“Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron’s cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience. They may be more likely to go to Heaven yet at the same time likelier to make a Hell of earth. This very kindness stings with intolerable insult. To be “cured” against one’s will and cured of states which we may not regard as disease is to be put on a level of those who have not yet reached the age of reason or those who never will; to be classed with infants, imbeciles, and domestic animals.”

But then, what did he know? He was a Christianist.

More Bizarro-World Economics

Remember this promise: “We’re going to solve the health care crisis by adding millions and millions of poor people to the health care system. We’re going to force insurers and providers to provide more services to them. But this will result in massive savings, affordability, and lower costs for everyone!”

Yeah, that.

Well, those same Bizarro-World Economists are making a new promise: “We’re going to solve global warming by putting severe limits on the use of carbon-based fuels. We’re going to put severe limits on industry to force them to emit less carbon. But this will result in “co-benefits” that result in economic growth and prosperity for all!

How well do you reckon that will work out?

bizarro

[Is “Co-Benefit” even a word?]

Yet another ‘limousine socialist’

Left-wing NYC Mayor de Blasio has released his tax return. Guess what?

  • “$165,047 in total income” (probably includes his “$52,000 in rental income”)
  • “Mr. de Blasio’s effective tax rate was 8.3%.”
  • “reported $5,597 in gifts to charity, roughly 3%”

So de Blasio got a 6-figure income and gave basically 11% back to the society in which he lives.

I seem to remember lefties screeching with drama and contempt in 2012 when Mitt Romney paid an effective tax rate of 14.1%, plus another whopping 29.7% to charity, for a total give-back to society of 44% of his income, or four times the rate of de Blasio.

Mohammedan Cabdrivers Doing What Christian Bakers Are Not Allowed to Do

Posted by V the K at 8:12 am - April 16, 2014.
Filed under: Islamic Intolerance

In Cleveland, some cab-drivers are refusing to take fares from the airport… because billboards advertising the Gay Games are offensive to them.

Some drivers of the zone-based taxis operating out of Cleveland Hopkins International Airport have notified their companies they don’t want to drive the cabs for religious reasons, citing rooftop placards that are advertising the upcoming Gay Games.

Hopkins released a statement saying that two of the three taxi companies operating at the airport — Ace and Yellow Taxi – were informed by several of their drivers they will no longer participate in the airport’s dedicated taxi cab program.

Patrick Keenan, general manager for the third company, Americab, said two of his drivers also have opted not to drive because of the Gay Games ads. The drivers are Muslims, Keenan and Hopkins spokeswoman Jackie Mayo said.

So … Mohammedan cabdrivers can refuse to carry passengers, blind passengers with guide dogs, or people who bought alcohol… “because Islam forbids”… and we have to respect their religious rights, otherwise racism.

But… Christian photographers, bakers, and florists can be forced to participate in gay weddings that they object to… because the gay “right” not to be offended by someone else’s disapproval trumps their religious liberty.

And… Mozilla can be forced by the gay mob to fire their CEO because he once donated money to oppose gay marriage, because that’s just a corporation acting on its principles.

But… Hobby Lobby is not allowed to refuse to pay for abortion-inducing drugs for its employees, because corporations are not people, and so have no right to put their principles into policy.

It all makes perfect sense when it’s explained that way, doesn’t it?

Joe Biden Says Something Mind-Numbingly Stupid

Posted by V the K at 7:53 am - April 16, 2014.
Filed under: Biden Watch

I know, dog bites man.

Less than a minute into his speech at the Boston marathon bombing memorial on Tuesday, Vice President Joe Biden went tragically off script and told the crowd of Boston bombing survivors that “it was worth it.”

After expressing how impressed he was with the tribute, he said somberly, “let me say to those ‘quote survivors,’ my God, you have survived and you have soared. It was worth it. I mean this sincerely – just to hear each of you speak. You’re truly, truly inspiring.”

Let’s see. An eight-year old boy was blown to pieces. Other people will spend the rest of their lives with prosthetic limbs (because the massive NSA surveillance state couldn’t keep tabs on two radical Muslim immigrants the Russian Government warned us about). But it was worth it because Joe Biden Got to Hear a Speech.

And the $100,000 in welfare benefits the Boston Bombers received… also, totally worth it.

Finland Issues Tom of Finland Stamps

Debated whether to insert the image and then decided… um… No. But you can see it here.

The Finnish postal service, is releasing commemorative stamps featuring the art of Tom of Finland, or Touko Laaksonen (1920-1991). Laaksonen remains a towering and iconic figure in the gay art scene. His sketches, often explicit, were unapologetic depictions of gay sex and relationships. Laaksonen’s subjects were almost always muscle-bound, handsome figures, often bursting out of their clothes. His work, a meditation on masculinity, was also heavy on leather fetish imagery.

Given the Democrat Party’s ceaseless gay-pandering, (like Obama’s recent choice for an openly gay clergyman to deliver the prayer at Easter breakfast) I expect that a similar set of Robert Mapplethorpe stamps will be issued here before too long. I just hope they’re the self-adhesive kind. Nobody wants to lick that.