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February 14, 2012

The Daily DOOM


Follow 'The Daily DOOM' on Twitter: @AoSHQDOOM.

I am a "demographics is destiny" guy, and this City Journal article about California's demographics since 1970 or so is a good explanation of why I feel that way. Here's a little taste:

The poor Mexican immigrants who have fueled the transformation—84 percent of the state’s Hispanics have Mexican origins—bring an admirable work ethic and a respect for authority too often lacking in America’s native-born population. Many of their children and grandchildren have started thriving businesses and assumed positions of civic and economic leadership. But a sizable portion of Mexican, as well as Central American, immigrants, however hardworking, lack the social capital to inoculate their children reliably against America’s contagious underclass culture. The resulting dysfunction is holding them back and may hold California back as well.

Speaking of uncomfortable demographic truths...Victor Davis Hanson hits the same note I've hit myself: there is no such creature as a 'European'. There is only the same collection of Germans, Frenchmen, Walloons, Flemings, Spaniards, Portuguese, Italians, and Greeks that there has always been.

I want you to sit down in a comfortable chair and make sure you have good light and maybe a hot drink to savor while you read this. It may be the most sublimely stupid piece of op-ed "journalism" ever committed to print. There is a certain kind of genius to its gemlike perfection: it is utterly stupid, with no glimpses of wit or clue anywhere. It is a perfect spherical mass of pure weapons-grade idiocy. When you are done reading, and have enjoyed your belly-laughs, do the poor ink-stained wretches who excreted this little turd a kindness and send them a link to Bastiat's "That Which is Seen, and That Which is Not Seen".

I'm sure you'll be as shocked as I was to find that 16 congressmen funneled millions of dollars to their relatives' employers. Politicians engaging in graft and dirty dealing? Say it ain't so!

The prophet Stevie Ray Vaughan sayeth:
Let me tell you how it will be
There's one for you, nineteen for me
'Cause I'm the taxman
Yeah, I'm the taxman

Wait, I thought Obama and his ilk thought imperialism was bad? Or is it another one of those deals where it's only bad when Republicans do it?

Speaking of His Majesty the King Barack I: his Royal Highness seeks more gold from the gentry. Simply to help the poor suffering peasants, you understand.

You keep using this word 'cut'. I do not think it means what you think it means.

OSHA has declared this a hazardous material. Workers must wear protective gear before handling something this toxic.

One-fifth of Americans now on the dole? If you count all state and federal benefit payouts, it's probably closer to half.

Rep. Paul Ryan to President Obama: I award you no points, and may God have mercy on your soul.

You can't harness a plow-horse to a thoroughbred without making both of them suffer.

Q: How does Providence, RI avoid bankruptcy? A: No one seems to know.

Dodd-Frank is a stupid law for a lot of reasons, but mainly because it tries to address the wrong problem, and does it badly. It basically sanctifies certain banks as "too big to fail", and protects them (no matter how bad or inefficient they are) by regulating anything and everything. Dodd-Frank protects the institutions when it should be protecting the assets those institutions hold.

Note to public-sector pension funds: equity returns will not save you. Workers -- not taxpayers, the workers themselves -- have to kick in the bulk of their retirement savings on their own. There's no other way around it.

Moody's to just about every European nation: BAM!

How economists wish their beloved a Happy Valentines Day.


Even DOOM cats are not above a romantic gesture on Valentine's Day.

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posted by Monty at 08:36 AM

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