Friday, June 22, 2012
The Hollywood campaign
If you have ever wondered about the Obama campaign for the election of 2012's inspiration, look no further than this article about O's campaign head Jim Messina and his Hollywood "advisors". All of which simply proves how out of touch Hollywood is with the country at large. It also accounts for the unhappiness of the pros, Carville, Clinton, et al., with the emphasis of the campaign on pitting various groups or collection of Americans against one another. We're looking at a wipeout election this year not only because this administration has failed on so many levels but because they have been running a divisive, even destructive, campaign that has just about everyone at each other's throats. Not good.
Thursday, June 21, 2012
Istanbul, Bosporus History
National Geographic has produced a fascination video that describes the amazing engineering feat of the crossing of the Bosporus with a train tunnel 160 feet deep. In the course of building this tunnel, started in 2005 and supposed to be finished in 2010, a major archeological find was made that has delayed the completion of the project until 2013 or later. The Marmaray Tunnel website is here where you will find most interesting facts about the construction of the tunnel. BTW, the spelling of what most of us know of Marmara apparently has morphed into Marmaray in the case of this tunnel, at least on their site.. What makes this project especially interesting is the fact the tunnel is being built 12 miles from one of the world's most active faults, the North Anatolian Fault. Some scientists believe the area is overdue for a major quake within the next few years.
Tuesday, June 19, 2012
A test!
Is this humbling or what?????
Subject: 1895 8th grade final exam
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Ron Paul vs. Paul Krugman
This segment on Bloomberg in which Ron Paul and Paul Krugman air their differences in a 15 minute video clip is an extremely vivid example of liberal and conservative differences on a host of subjects related to the economy and governance. Krugman is a Keynsian and Paul a von Misean. Their discussion has been going on since these two schools of economic thought emerged in the aftermath of WWI, now almost 100 years ago. It's worth noting that Freidrich Hayek, a student of von Mises', a contemporary of Keynes, and maybe the best known to Americans of all the Austrians, was actually in the Austrian government when the horrific inflation of the German currency occurred in the aftermath of WWI, the event that led to the destruction of the savings off the German middle class, the rise of the Nazis and the devastation of WWII. There is an inbred fear of inflation bred into the Austrian School of Economics that seems to lead to an inbred fear of fiat money. You see this same attitude reflected in Ron Paul's comments. Krugman dismisses all Paul's fears, including the idea of rejecting central banking and a returning to the gold standard by saying the worldwide economy and financial scene is so complicated at this point that no one can even accurately describe what money actually is. How this debate ends up over the next decade or so will determine where the US and world economy ends up. It's the issues of big government versus smaller government, individual freedoms versus collective group rights, capitalism versus socialism, and so forth. It seems pretty clear from the examples of the USSR, Cuba, North Korea, and now much of Europe, that socialism does not work. The discussion seems to be coming down to what is the proper definition of Capitalism. Is it closer to the definition of the Austrian School or the version that has evolved since the Hoover-Roosevelt period when Big Government was unleashed in an attempt to eliminate its inherent uncertainties and risks? In other words how much managing can Capitalism take before it stops functioning as the worldwide engine of prosperity it has been? Quite a question!
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