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May 06, 2013
DOOM: Who run Bartertown?
UPDATE: Why Friday's job report was ominous. All those fabulous new jobs His Majesty the King was bragging about are mostly low-end part-time jobs.
UPDATE 2: Don Boudreaux lays the lumber to a fat pitch and mashes it over the centerfield fence: "I Do Not Care About Income or Wealth Inequality".
Worrying about income (or wealth) differences as such has always for me smacked of childishness. Itís envy elevated into public policy. Iím sure that it has something to do with how I was raised, but the very thought of fretting about how much money other people make relative to what I make has always seemed to me to be grossly impolite, anti-social, pointless, corrosive of oneís character, and in horribly bad taste. This was so for me for as long as I can remember, even when my income was very low by American standards.
I posted a rather gloomy prediction about the 21st century labor market on Saturday. Kevin Williamson (of National Review's Exchequer blog) has a different take on the situation -- not so much a rebuttal as a more optimistic take on what the long-term prospects are. Williamson's idea, boiled down, is that market capitalism will survive our era of lousy governance and thrive in the post financial-crash world that will follow. But it is important to note that both he and I agree on one thing: we're facing a hell of a lot of pain in the short to medium term.
Democracy's death by welfare. The whole idea of the tax-funded sovereign-controlled welfare state was flawed, but it took a century or so for the really intractable problems to emerge. Democracy may have had its day in the sun (a point Donald Kagan advances) as people find the twin burdens of responsibility and fiscal continence too much to bear, and when the obituary for the democratic form of governance is written, it will be noted that it was the welfare state and not a conquering enemy that did it in.
Europe bleeds out. I confess that I am shocked at how long Europe has been able to avoid the wages of their Euro folly. The fiasco has dragged on for far longer than I had thought possible. It just goes to prove Adam Smith's legendary observation that there is a lot of ruin in a nation. Though I suppose that is cold comfort to the Greeks, Irish, Spanish, Cypriots, and Portuguese.
CNBC dares to speak the terrible truth: America's spending habits may be to blame for their lack of savings. Next month, CNBC plans to do a shocking expose on how borrowing money leads to debt.
That look on Harry Reid's face isn't the result of a bad taco off the lunch-truck; it's the realization that he's not going to be able to get out of the hot zone before ObamaCare goes critical.
Argentina has to re-learn this lesson every two decades, it seems like: socialism is a one-way ticket to the poorhouse. Someone ought to remind them of Einstein's aphorism that insanity can be defined as doing the same thing over and over again and expecting different results.
New rule signals the kiss of death for pensions. Private-sector pensions have been dying for decades now. Public sector pensions are where the most grievous danger lies, but regulators and lawmakers are terrified to look into that abyss.
How boned is California? Boned to the tune of approximately $1.1 trillion dollars, my groovy babies. And that's not even a worst-case scenario.
The recent jobs numbers had some people positively giddy, but don't be fooled: the real unemployment rate is still 10% or better. And it's substantially higher for teens and other demographics. The labor market isn't "improving"; it's a dead whale bumping along the ocean floor, shedding bits of itself as it rots away.
Generally speaking, it's a really bad idea to borrow against your retirement assets, and that bad idea gets worse the closer you get to retirement. Borrowing to finance a college education for yourself or your kid probably made sense years ago when the return on a college education was much higher than it is now, but now it falls into the realm of financial malpractice.
Ricardo Kill: ""Every year, there are reports of Italians tragica ..."
Hrothgar [/i][/u][/b][/s]: "We do likewise on the Gulf Coast, with our meatbal ..."
Ricardo Kill: ""Birthdays, etc. It's almost as if they don't care ..."
Donna&&&&V (a white) (whitely brandishing ampersand privilege ): "You have to be very careful when you're harvesting ..."
Lizzy [/i]: ">>Which would you rather do, stay there and ..."
Village Idiot's Apprentice [/i]: ""I believe we've discussed not mixing the pasta an ..."
Ricardo Kill: ""But I did not know, until this day, that it was D ..."
Aetius451AD: "271 It can be done. Chef Biordi was the first to p ..."
grammie winger, sign of The Time: " I guess Mooch is not spending Valentines Day wit ..."
Citizen Cake: "Our free trade agreements seem to mean we freely t ..."
Brother Cavil, hither and yon: "[i]"Plus, you can just scrape right off, the pesto ..."
Bruce With a Wang!: " Pub landlord 'told by council officers to remove ..."
EMT 2/13/16 [krakatoa]
Overnight Open Thread (12 Feb 2016)
Damn It Feels Good to be a Clinton
AoSHQ Podcast #133: Michael Walsh
Two great MilBlogs (XBradTC)
Very Nice Gun Rights Piece
Nature vs. Nurture (CBD)
Morning Thread (2-12-2016)
Polls! Polls! Polls!
Real Clear Politics
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Primary Document: The Audio
Paul Anka Haiku Contest Announcement
Integrity SAT's: Entrance Exam for Paul Anka's Band
AllahPundit's Paul Anka 45's Collection
AnkaPundit: Paul Anka Takes Over the Site for a Weekend (Continues through to Monday's postings)
George Bush Slices Don Rumsfeld Like an F*ckin' Hammer
Top Top Tens
Democratic Forays into Erotica
New Shows On Gore's DNC/MTV Network
Nicknames for Potatoes, By People Who Really Hate Potatoes
Star Wars Euphemisms for Self-Abuse
Signs You're at an Iraqi "Wedding Party"
Signs Your Clown Has Gone Bad
Signs That You, Geroge Michael, Should Probably Just Give It Up
Signs of Hip-Hop Influence on John Kerry
NYT Headlines Spinning Bush's Jobs Boom
Things People Are More Likely to Say Than "Did You Hear What Al Franken Said Yesterday?"
Signs that Paul Krugman Has Lost His Frickin' Mind
All-Time Best NBA Players, According to Senator Robert Byrd
Other Bad Things About the Jews, According to the Koran
Signs That David Letterman Just Doesn't Care Anymore
Examples of Bob Kerrey's Insufferable Racial Jackassery
Signs Andy Rooney Is Going Senile
Other Judgments Dick Clarke Made About Condi Rice Based on Her Appearance
Collective Names for Groups of People
John Kerry's Other Vietnam Super-Pets
Cool Things About the XM8 Assault Rifle
Media-Approved Facts About the Democrat Spy
Changes to Make Christianity More "Inclusive"
Secret John Kerry Senatorial Accomplishments
John Edwards Campaign Excuses
John Kerry Pick-Up Lines
Changes Liberal Senator George Michell Will Make at Disney
Torments in Dog-Hell
The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Movable Type 2.64