Monday, February 23, 2015

Monday, February 23, 2015

ISLAM'S IN NEED OF SERIOUS REFORMATION Churchill's description of Islam prevails tothis day.   A timeless article.

How dreadful are the curses which Mohammedanism lays on its votaries!  Besides the fanatical frenzy, which is as dangerous in a man as hydrophobia in a dog, there is this fearful fatalistic apathy.  The effects are apparent in many countries.  Improvident habits, slovenly systems of agriculture, sluggish methods of commerce, and insecurity of property exist wherever the followers of the Prophet rule or live.  A degraded sensualism deprives this life of its grace and refinement; the next of its dignity and sanctity.  The fact that in Mohammedan law every woman must belong to some man as his absolute property—either as a child, a wife, or a concubine—must delay the final extinction of slavery until the faith of Islam has ceased to be a great power among men.  Individual Moslems may show splendid qualities.  Thousands become the brave and loyal soldiers of the Queen: all know how to die.  But the influence of the religion paralyzes the social development of those who follow it.  No stronger retrograde force exists in the world.  Far from being moribund, Mohammedanism is a militant and proseltyzing faith.  It has already spread throughout Central Africa, raising fearless warriors at every step; and were it not that Christianity is sheltered in the strong arms of science—the science against which it had vainly struggled—the civilization of modern Europe might fall, as fell the civilization of ancient Rome.

WHERE ARE THE ROOT CAUSES? What exactly are the Repubs supposed to offer to win these voters?

THE PIGS ARE SQUEALING Watch academia resist reforms and learn to live within a budget.

LI9BERALS/SOCIALISTS/COMMUNISTS They are all from the same bolt of cloth.

REAGAN AND GIULIANI There's really np argument here. It's about the progressive/liberal vs free market/capitalist.

GOVERNMENT CONTROL OF THE INTERNET? Comcast deserves a lot of attention -- a perfect example of crony capitalism at work.

LIB PRESS AT IT AGAIN Dana Milbank's shelf life has expired. Enough already.

Sunday, February 22, 2015

Sunday, February 22, 2015

MULTICULTURALISM REVISITED Whoever had the idea multiculturalism would work in the first place. Come to think of it many of the "empires" that imploded and went away after WWI were paragons of multiculturalism and they all imploded.  The ottoman and Austro-Hungarian and even the British empires come to mind.

THE ORIGIN OF POLITICAL CORRECTNESS From Marx to Marcuse this virus is still alive in academia

FRAUDS, FRAUDS AND MORE FRAUDS The simple answer: all democrats are frauds w/o exception

DISGRACEFUL  They do this because if they don't 50% or more of their student bodies will be Asian.  One might also add to this subject that the reason there are now so many foo-foo courses offered in all universities, e.g. Gender Studies, Black Studies, etc, is grades (to some extend) are based upon skin color and feelings.  Otherwise these students would never graduate from these colleges and universities.  Where's the merit based society gone?  Down the p.c. drain, perhaps?

Tuesday, February 17, 2015

Tuesday, February 17, 2015

THIS BIRD'S ANOTHER WALTER DURANTY Hard to imagine what goes on in the mind of this self proclaimed conservative, but for sure he is no conservative.

JUST ANOTHER LIB LIAR Fournier, Williams, Clintons, Rather, Cronkite, the list of lefty liars is long and sickening.

THE RECORD OF INFAMY NEEDS TO BE CORRECTED; HERE'S A START American public has been gulled far too long.


HERE'S FOOD FOR THOUGHT Marbury vs Madison was a SC decision empowering judicial review.

CORRUPTION IS WHAT CORRUPTION DOES Are there two more corrupt people in or out of the public eye than the Clintons?  Perhaps GH Bush's greatest failure was allowing a two bit grifter-politician from a corrupt state to take the Presidency away from him without a real fight.  That failure allowed Osama bin Laden to prosper and take down the Twin Towers in NYC, contributed directly the 2007-8 financial crackup, and an egregious debasement of the culture which goes on to today.  Put unserious and corrupted individuals in charge of the state and you're apt to get a bad result.  To think of Hillary Clinton becoming POTUS is mind-boggling.  But why not?  The public discourse has been dumbed down and degraded to the point we've recently elected the least qualified person ever to the job not only once but TWO times.  There is no explanation for all this nonsense other than we, as a nation, have devolved into a third world mind-set wherein demagogues rule by fiat and by appealing to the basest instincts of the most ignorant among us.  With the advent of  de facto open borders immigration, thoroughly debased union driven public schools, and a political class who openly and enthusiastically buys votes enabled by a banking system that creates money out of thin air, how does all this end up well?

LET MUSLIMS DEFEND ISLAMIC EXTREMISM  Why is Obama the none to defend the faith. Is he a Muslim-Ilamic scholar or something?

FOURNIER'S THE ONE WHO SHOULD BE SHUNNED  Fournier is a typical lefty who condemns what he preaches and doesn't admit it. He's so far gone he may not even know how ridiculous he appears to rational people.

RUDY'S ATTACK ON OBAMA'S PATRIOTISM: Technically it wasn't an "attack" but rather a statement of the understanding of many, many people who bothered to inform themselvesbefor the election of 2007 and since. Holden Cauldfield indeed.

Thursday, February 12, 2015

Thursday, February 12, 2015

MARK STEYN KNOWS We must be free of the insane president and the people surrounding him. They will get us all killed.

CASHILL KNOWS He exposes political and especially Dem myths

THESE LIES ON THE LEFT ARE TIRESOME AND FALSE Fournier presents himself as a moderate but I guarantee he voted Obama at least once

THE LEFT SPAWNS CRAZIES In the end the p.c. crazies are but a manifestation of a real sickness, a mass mental illness on the part of lefties. Welcome to the Democratic Party mainstream voter.  One has only to observe Nancy Pelosi in action to understand how truly putrid these people have become.  They are probably mentally ill which in no way diminishes the threat they pose to a free society.  One needs to remember the holocaust and the stunted and ruined lives all over Eastern Europe following WWII as the Soviets perpetuated their reign of political correctness on millions of people.

CRONKITE VS STEWART COMPARO As usual, Kevin Williamson enlightens  Cronkite single handedly caused the death of millions of South Vietnamese when he declared a war hat had been won to be lost after the Tet offensive.  Because of his outsized and malevolent influence public support for the war to defeat communism collapsed and the North Vietnamese won subjecting a generation of Vietnamese to the horrors of a police state.

FUN RAP OF KEYNES VS HAYEKArgument now almost 100 years old.

HUTLER AND BRIAN WILLIAMS  Can never get enough of this shtick.

Echoes of 1937 in the Current Economic Cycle

MAY 20, 2014
It is not too early to ask how the present US business cycle expansion, already more than five years old, will end. The history of the last great US monetary experiment in “quantitative easing” (QE) from 1934-7 suggests that the end could be violent. Autumn 1937 featured one of the largest New York stock market crashes ever accompanied by the descent of the US economy into the notorious Roosevelt Recession. Should we take comfort from the fact that Friedman and Schwartz, in their epic monetary history, claim to have discovered the policy error by the Federal Reserve which was responsible for the 1937 denouement. And that today’s Fed officials are adamant about having learned their lesson? The short answer is no.
According to the now mainstream narrative, the strong economic recovery of 1935-6 could have continued for much longer if it had not been for the successive hikes in reserve requirements through late 1936 and early 1937, together with the sterilization of gold inflows from the start of that year. This meant the end of rapid growth in high-powered money supply. The trigger for these monetary policy changes was concerns within the Federal Reserve and White House about the intense speculative climate which had developed in equity and commodity markets during 1936, coupled with apparent upward pressure on goods prices. Friedman and Schwartz imply that these concerns were misplaced. And indeed, as regards the rise in goods prices, this was a benign recovery from a deep cyclical low-point in 1933 rather than something symptomatic of monetary inflation. It was, however, quite a different story for asset prices.
The monetary manipulations of the Roosevelt administration in combination with the Federal Reserve (dollar devaluation, monetization of subsequent huge gold inflows, interest rates pegged at zero throughout) had been fueled by 1936 serious asset price inflation most of all in the US equity and commodity markets. Today we recognize irrational exuberance as the salient feature of this monetary disease. Some combination of yield desperation and fears concerning an eruption of goods inflation in the far distant future lies behind the irrationality. The manipulating of long-term rates below neutral also encourages various feedback loops in which rising asset prices appear to justify otherwise wild speculation.
There is no simple empirical test which detects and measures speculative froth. We do not know the “underlying value” which would correspond to a sober rational weighing of all the risks. Traditional benchmarks of valuation such as normal price-earnings ratios are particularly misleading in a period such as the mid-late 1930s when the geo-political, domestic political, monetary, and economic climates are highly turbulent.
Asset price inflation would come to an end even without monetary action. It is sufficient that the real world outside becomes so much worse than what the irrationally exuberant investors have been seeing through rose colored spectacles (which filter out dangers and exaggerate expected returns) that the lenses splinter. In late summer 1937 that is what may well have happened. The rapid economic recovery of 1936 was evidently stalling by mid-1937. In July, Imperial Japan had launched its full-scale invasion of China. German rearmament accelerated following the military re-occupation of the Rhineland. In May 1937 the Supreme Court had ruled in favor of the Roosevelt administration’s trade union legislation. As markets crashed from August through autumn 1937, business confidence and investment plummeted.
The importance of monetary policy actions in late 1936 and early 1937 in contributing to this bad outcome is dubious. When market rates of interest are at zero, high-powered money lacks power, as banks are willing hoarders of large reserves well beyond normal levels (relative to their deposit base). Short-term rates hardly rose in response to the raising of reserve requirements through late 1936 and early 1937. Long-term Treasury bond yields climbed briefly in March 1937 by around 30 basis points to a peak of 2.75 percent before falling back, partly due to evidence of economic slowdown, and partly to a Fed bond-buying program as demanded by the Roosevelt administration. That political intervention surely signaled to contemporary investors that long-run inflation dangers were still live — a positive factor for continuing asset price inflation.
What are the parallels with the present? We have had some similarly ambiguous Federal Reserve policy actions. This time long-maturity T-bond yields have climbed more sharply from their low point (early 2013) but the announced curtailment of QE has so far been less striking. A more important parallel is the amount of irrational exuberance now evident in a range of asset classes (high-yield bonds, European periphery sovereign debts, real estate in various global hotspots, German equities, US financial and technology sector equities, private equity). A failure of the US economy to take off into a higher flight path beyond the winter stall and spring re-bound, disappointment regarding a German economic mini-miracle, a Chinese “hard landing,” geo-political storms, and a host of idiosyncratic factors which could setoff waves of profit-taking, are all possible triggers to asset price deflation and an early end to this cycle.

Friday, February 6, 2015

Friday, February 6, 2015

GOLD BACKED RUBLE? Maybe, maybe not

VOUS AVEZ RAISON, ALAN:  Affirmative Action president, indeed!

PRIME AMAZON EXPLAINED Always wondered why 2-day shipping?

DECENT DISCUSSION OF CHRISTIANITY'S HISTORY And a complicated and mixed bag it is.

OBAMA SHOULD REALLY KNOW WHAT HE'S TALKING ABOUT BEFORE PONTIFICATING Then again he wouldn't be Obama if he had any idea of how little he really knows.

A LOT RIGHT HERE Many, many distortions in this economy

Sounds like police state. DID THIS FORFEITURE LAW GET BORN?

SPOKEN LIKE A SOCIALIST Somebody tell this college professor/socialist that socialism has been found wanting. The comments are on point here.

THE OUTRAGEOUS COST OF AN UNDERGRADUATE DEGREE This is truly an outrage. A comment by Johnathan Swift Jr is most relevant. A comment by the blogger to Mr Swift is posted below.

From all that I have read about the issue of education, paying for it, and government involvement, Mr Swift has is just about right in his very informative post. I remember writing Mr Levin, the new President of my alma mater Yale, upon the matriculation of my son in 1990, how outrageously expensive the school had become since my undergraduate years in the 1950's. Then room, board and tuition was about $2,000. The same for my son, as I recall, was about $45-50,000 with spending money to be added.  As I mentioned to President Levin, even allowing for the inflation of the '70's a 25 times increase in the basic costs over 30 years seemed outrageous to me. Ten times increase since I graduated should amply cover the inflation issue, how account for the rest of the increase?  I volunteered that maybe it had something to do with the size of the course curriculum book, which seemed at least twice as big as in my time, and were all these courses necessary to provide a well-rounded, informed graduate at the end of 4 years? I didn't mention the inflation in the salaries of professors and the dramatic decrease in their work loads, commented on by Dean Kagan sometime later, when he wrote an article for a magazine describing his own teaching load as one-third what it was when he began his career 40 years earlier. The 3-page long response from Mr Levin seemed a little defensive, at least in its length, nevertheless he attempted a defense by arguing that knowledge expansion required additional courses, especially in an elite research school such as Yale. I was, and remain, unpersuaded. Rather, I believe Mr Swift has identified most of the drivers of most of the cost spiral for a college degree. I would add to his list of drivers probably the biggest driver of all, the involvement of the federal government through the influence of the billions in research grants and programs like Title IX, Pell grants, and all the other easy government backed loan schemes that enable experience deprived 18-19 year-olds to live, in some cases high-on-the- hog well, on excessive credit for 4 years or more. This abuse will not end well.

Friday, January 30, 2015

Friday, January 29, 2015

UNDERCLASS ANYONE? None of the other countries mentioned has anything like our black and illegal immigrants underclasses.  Both are the result of the abject failure of liberal governing policies.

THE DETROIT FIASCO Mostly the result of race riots, bad auto management, and intransigent unions.

WHAT IS A PALESTINIAN? There are a lot of myths surrounding the "Palestinians", most wrong. Turn the country of Israel over to the Palestinians and it would cease to feed itself and eventually the inhabitants would be no better off than those who live in poverty all around them.  It's something in the water and in the Muslim faith.

EXCESSIVE DEBT MEANS SLOW GROWTH Noah in comments makes sense.

THE ANSWER TO COLLEGE COST SPIRAL The first response has an answer that makes sense

529s AND COLLEGE COST CONTAINMENT All government intervention distorts the economy

Wednesday, January 28, 2015

Charitable Donations to Colleges Reached All-Time High in 2014 ($38 Billion)

Colleges and universities received a record $37.5 billion in donations last year, led by massive gifts to Harvard University, Stanford University and other already-wealthy schools.
The new high, a 10.8% jump from the prior year, was due in part to stock-market increases that boosted capital gifts, as well as a jump in donations of art, according to an annual survey being released Wednesday by the nonprofit Council for Aid to Education. ...
The top 10 recipients brought in nearly 18% of all gifts last year, up from 15% a decade earlier, according to Ann E. Kaplan, who directs the survey.
Inside Higher Ed, Deep-Pocket Donors:
Top Fund-Raisers in 2014

InstitutionRaised in 2014
1. Harvard $1.16 billion
2. Stanford$929 million
3. USC$732 million
4. Northwestern$616 million
5. Johns Hopkins$615 million
6. Cornell$546 million
7. Texas$529 million
8. Pennsylvania$484 million
9. University of Washington$478 million
10. Columbia$470 million
11. NYU$456 million
12. UC-San Francisco$445 million
13. Duke$437 million
14. Michigan$433 million
15. Yale$430.31 million
16. UCLA$430.28 million
17. Chicago$405 million
18. UC-Berkeley$390 million
19. MIT$375 million
20. Indiana$341 million 


Well maybe they might consider giving more grants to students rather than students relying on pell grants, Cal grants, student loans and parent plus loans? My daughter goes to $60k yearly Jesuit school, works 30 hours a week, maintains a 3.8 gpa and qualifies for cal/pell grants of $10k but gets a lousy $2200 grant per year from her university. I think it would be nice to give some of that endowment money to struggling students. I know she should go to less expensive California public university but good luck getting in anymore.
Posted by: DeannaG | Jan 29, 2015 6:33:10 PM

"Paying Tuition to a Giant Hedge Fund: Harvard's academic mission is dwarfed by its $30 billion endowment." By Ron Unz
Posted by: Walter Sobchak | Jan 29, 2015 7:31:11 PM

Not to be critical, but with that kind of dough why do they have to charge tuition at all?

Wednesday, January 28, 2015

Wednesday, January 27, 2015

SHAREMark as favorite
texasjobs1The Texas Workforce Commission released state employment data today for the month of December, and job growth in the Lone Star State continues to lead, and in fact carry the nation’s improving labor market as the chart above shows. Here are some highlights of the December employment report for Texas:
1. Texas ended the year with the state’s largest ever year-over-year payroll gain with the eye-popping addition of 457,900 new jobs between December 2013 and December 2014. That’s more than 1,700 new payroll jobs that were added every business day last year in the Lone Star State, and 220 new jobs every business hour or almost 4 new jobs added every minute!
2. In just the last month of December, which marked the 51st consecutive month of employment growth, Texas added 45,700 new payroll jobs, which was more than 2,000 jobs every business day, almost 260 jobs every hour, and more than 4 new jobs every minute! The strong job growth in December brought the state’s jobless rate down to 4.6%, the lowest Texas unemployment rate since May 2008.
3. Total December employment in the Lone Star State reached a new record high of 12.45 million workers (11.783 million nonfarm payroll jobs and another 667,000 self-employed and farm workers), which was above the December 2007 level by 1,444,290 jobs (and by 13.1%), see chart above. In contrast, total employment at the end of the year in the rest of the country (US minus Texas) still remained 275,290 jobs below the pre-recession, December 2007 level (see chart above).
It’s a pretty impressive story of how job creation in just one state – Texas – has made such a significant contribution to the 1.169 million net increase in total US employment (+1,444,290 Texas jobs minus the 275,290 non-Texas job loss) in the seven year period between the start of the Great Recession in December 2007 and December 2014. The other 49 states and the District of Columbia together employ about 275,000 fewer Americans than at the start of the recession seven years ago, while the Lone Star State has added more than 1.25 million payroll jobs and more than 190,000 non-payroll jobs (primarily self-employed and farm workers).