I don't normally get my finance and economics news from the Seattle-PI, but I happened across this while reading about the Seahawks, and this article shows why.
The CBO says Japan, China and the United Kingdom have the biggest holdings of U.S. debt instruments. And, it's worth noting, that the United Kingdom is more of a broker than a purchaser.
In all, the CBO says, "investors from other countries purchased about $235 billion in Treasury securities last year."
Another agency, the Congressional Research Service, wrote a year or so ago that the burden of debt "depends on whether the debt is internally or externally held."
"When the national debt is externally held, the payment of interest abroad is a transfer of income from Americans to foreigners," the CRS said.
This is huge. We Americans are stingy when it comes to foreign aid. We don't invest a lot (in relative terms) to help poor nations climb out of poverty. The total spending on foreign aid is less than $20 billion (depending on how you count).
Yet without debate, without fanfare, we willingly send $235 billion as a transfer payment -- to Japan, China and other cash-rich nations, businesses and individuals.
Sounds nice, but there is one problem, we aren't sending $235 billion as a transfer payment. In fact the article previously states that the $235 billion is the amount that foreigners invested in us, so it would actually be more accurate to say that foreigners send us $235 billion in transfer payments. I don't have an exact number in what we pay in interest to foreigners, but as the article correctly points out we paid $352 billion in interest last year. Since foreigners own about 1/4 of the total debt, then that would be approximately $85 billion.
Bogus numbers aside, this article is just filled with bad economics. He also makes the statement.
By any measure, the interest on the debt is headed in the wrong direction.
Oh really, "by any measure" Well how about this measure?
2005 $352,350,252,507.90
2004 $321,566,323,971.29
2003 $318,148,529,151.51
2002 $332,536,958,599.42
2001 $359,507,635,242.41
2000 $361,997,734,302.36
1999 $353,511,471,722.87
1998 $363,823,722,920.26
Now this is not to say I am in favor of a deficit, I am not, I think it should be cut, but if you are going to make an argument against it, at least back it up with good economics. In my opinion, the problem that is more threatening is the impending cost of social security and medicare, not a federal debt, which although large, is at about the same proportion of GDP as it was 20 years ago.
UPDATE: After I e-mailed him Mark Trahant, to his credit, issued this correction:
Yet without debate, without fanfare, we willingly send about $72 billion as a transfer payment -- to Japan, China and other cash-rich nations, businesses and individuals. [Editor's Note: The amount of money we send as a transfer payment has been changed since the original publication of this column.]
Sunday, February 05, 2006
Friday, February 03, 2006
Yet One More Reason to Cheer for the Seahawks
Now I am not going to impugn the Steelers' patriotism, but this does seem a little fishy...
DETROIT - The city of Detroit honored one of its own Tuesday when it presented the Key to the City to Jerome Bettis.
The Pittsburgh Steelers running back and Detroit native joined only three other folks to receive the key - and one of them was Saddam Hussein.
You read that right.
Saddam Hussein.
DETROIT - The city of Detroit honored one of its own Tuesday when it presented the Key to the City to Jerome Bettis.
The Pittsburgh Steelers running back and Detroit native joined only three other folks to receive the key - and one of them was Saddam Hussein.
You read that right.
Saddam Hussein.
Thursday, February 02, 2006
Moonbattery Explained
I got in an on-line argument with a 9/11 conspiracy nut, which admittedly is a waste of time, but often provides amusement. I pointed out to my conspiratorial comrade that Osama had actually talked about committing the attacks on tape, after which he pointed me to this site, a moonbat hangout which alleges the tape was faked, and uses comparison of video captures to "prove" this point.
Here are the captures of bin Laden talking about the attack. Let's call this exhibit A.
So the moonbat then compares one of these captures with other captures of bin Laden.
He then concludes that "E" does not look like the other pictures. While the quality of the photo is not very good, I must agree that it doesn't.
What is wrong with this though? Well, look back at "exhibit A" and examine the aspect of the photo. It doesn't look right, in fact the aspect of the middle photo doesn't even match the other one and a half. It looks like someone sat on his head.
So what happens when you put it this picture in photoshop and do nothing other than adjust the vertical aspect so he is not all squished? Bin Laden is a tall skinny guy after all.
Wow, it looks just like Osama bin Laden, right down to the gray streaks in his beard and those beady little eyes. Amazing how that works.
Here are the captures of bin Laden talking about the attack. Let's call this exhibit A.
So the moonbat then compares one of these captures with other captures of bin Laden.
He then concludes that "E" does not look like the other pictures. While the quality of the photo is not very good, I must agree that it doesn't.
What is wrong with this though? Well, look back at "exhibit A" and examine the aspect of the photo. It doesn't look right, in fact the aspect of the middle photo doesn't even match the other one and a half. It looks like someone sat on his head.
So what happens when you put it this picture in photoshop and do nothing other than adjust the vertical aspect so he is not all squished? Bin Laden is a tall skinny guy after all.
Wow, it looks just like Osama bin Laden, right down to the gray streaks in his beard and those beady little eyes. Amazing how that works.
Welcome CNN Readers
I noticed unusual traffic on my humble blog this morning and found out that I have been linked on CNN Money. I have been mentioned on Instapundit, and the National Review Online before, but this is my first link in the infamous MSM. Apparently I am now an "online wag", which admittedly, I am not sure what that means. I hope it is good. I wonder if I can put this on my resume?
Wednesday, February 01, 2006
And You Thought That You Had a Lot of Credit Card Debt
I wonder if he can call one of those debt counseling services you see on late night TV? From the WSJ
Larry Ellison may be one of the world's richest men, but that hasn't stopped him from running up debts. Really big debts.
Recently unsealed court documents paint a rare and detailed picture of the software billionaire's finances -- in particular, his reluctance to sell the Oracle Corp. stock that makes up most of Mr. Ellison's fortune, and his proclivity for taking on debt to finance his lifestyle, charity giving and private investments.
In mid-2000, for instance, documents originally prepared by Mr. Ellison's personal financial adviser, Philip Simon, show that the Oracle co-founder and chief executive owed a total of more than $1 billion to five different banks, just $328 million shy of tapping out his line of credit. At the time, Mr. Simon anticipated additional spending by Mr. Ellison of more than $700 million over the next three years, including $20 million a year for "lifestyle," $194 million for a new yacht and $80 million for Mr. Ellison's America's Cup yacht-racing team.
"I'm worried, Larry," Mr. Simon wrote to Mr. Ellison in a 2002 email. "It's imperative that we start to budget and plan."
Larry Ellison may be one of the world's richest men, but that hasn't stopped him from running up debts. Really big debts.
Recently unsealed court documents paint a rare and detailed picture of the software billionaire's finances -- in particular, his reluctance to sell the Oracle Corp. stock that makes up most of Mr. Ellison's fortune, and his proclivity for taking on debt to finance his lifestyle, charity giving and private investments.
In mid-2000, for instance, documents originally prepared by Mr. Ellison's personal financial adviser, Philip Simon, show that the Oracle co-founder and chief executive owed a total of more than $1 billion to five different banks, just $328 million shy of tapping out his line of credit. At the time, Mr. Simon anticipated additional spending by Mr. Ellison of more than $700 million over the next three years, including $20 million a year for "lifestyle," $194 million for a new yacht and $80 million for Mr. Ellison's America's Cup yacht-racing team.
"I'm worried, Larry," Mr. Simon wrote to Mr. Ellison in a 2002 email. "It's imperative that we start to budget and plan."
Tuesday, January 31, 2006
More Made Up Stories?
Brainster is reporting on a story told by COL Karpinski (formerly BG Karpinski). If that name sounds familiar it is because she was the officer in charge of the Army Reserve MP unit that was responsible for the Abu Ghraib scandal. Anyway, the demoted officer is now claiming that an Army Master Sergeant died of dehydration in September 2003, because she was too afraid to drink water in the evening, for fear of being attacked and raped on the way to the latrines. To make this even more scandalous, the Army supposedly changed her cause of death from "dehydration" to unstated in order to cover up this incident.
Karpinski testified that a surgeon for the coalition's joint task force said in a briefing that "women in fear of getting up in the hours of darkness to go out to the port-a-lets or the latrines were not drinking liquids after 3 or 4 in the afternoon, and in 120 degree heat or warmer, because there was no air-conditioning at most of the facilities, they were dying from dehydration in their sleep."
"And rather than make everybody aware of that - because that's shocking, and as a leader if that's not shocking to you then you're not much of a leader - what they told the surgeon to do is don't brief those details anymore. And don't say specifically that they're women. You can provide that in a written report but don't brief it in the open anymore."
For example, Maj. Gen. Walter Wojdakowski, Sanchez's top deputy in Iraq, saw "dehydration" listed as the cause of death on the death certificate of a female master sergeant in September 2003. Under orders from Sanchez, he directed that the cause of death no longer be listed, Karpinski stated. The official explanation for this was to protect the women's privacy rights.
Now first of all this story seems rather unlikely. After all, would a senior NCO sit and die of dehydration for fear of going outside, or peeing in a bottle? Remember, these aren't drunken sorority girls at a frat house, these are professional soldiers who in Iraq are required to wear body armor and carry an M-16 everywhere they go. But even if we put this aside, who is this woman who died? Brainster points out that there are websites like icasualties which track coalition casualties in Iraq, and none list a female senior NCO dying in that time period. Master Sergeant is not the most common rank in the army, in fact there is no record of any female Master Sergeants dying for the entire Iraq war!
I thought that maybe they missed this soldier. Since the DoD releases casualty notices on defenselink.mil , I figured I would double check there. Same thing, no female senior NCOs died for ANY REASON in August, September or October 2003. Did the pentagon just make this woman disappear somehow? More likely Karpinski has adopted the new "fake but accurate" standard for stories. If anyone can find this mystery woman, by all means, let me know.
UPDATE: CNN keeps another list here. Same thing, this woman does not exist.
Karpinski testified that a surgeon for the coalition's joint task force said in a briefing that "women in fear of getting up in the hours of darkness to go out to the port-a-lets or the latrines were not drinking liquids after 3 or 4 in the afternoon, and in 120 degree heat or warmer, because there was no air-conditioning at most of the facilities, they were dying from dehydration in their sleep."
"And rather than make everybody aware of that - because that's shocking, and as a leader if that's not shocking to you then you're not much of a leader - what they told the surgeon to do is don't brief those details anymore. And don't say specifically that they're women. You can provide that in a written report but don't brief it in the open anymore."
For example, Maj. Gen. Walter Wojdakowski, Sanchez's top deputy in Iraq, saw "dehydration" listed as the cause of death on the death certificate of a female master sergeant in September 2003. Under orders from Sanchez, he directed that the cause of death no longer be listed, Karpinski stated. The official explanation for this was to protect the women's privacy rights.
Now first of all this story seems rather unlikely. After all, would a senior NCO sit and die of dehydration for fear of going outside, or peeing in a bottle? Remember, these aren't drunken sorority girls at a frat house, these are professional soldiers who in Iraq are required to wear body armor and carry an M-16 everywhere they go. But even if we put this aside, who is this woman who died? Brainster points out that there are websites like icasualties which track coalition casualties in Iraq, and none list a female senior NCO dying in that time period. Master Sergeant is not the most common rank in the army, in fact there is no record of any female Master Sergeants dying for the entire Iraq war!
I thought that maybe they missed this soldier. Since the DoD releases casualty notices on defenselink.mil , I figured I would double check there. Same thing, no female senior NCOs died for ANY REASON in August, September or October 2003. Did the pentagon just make this woman disappear somehow? More likely Karpinski has adopted the new "fake but accurate" standard for stories. If anyone can find this mystery woman, by all means, let me know.
UPDATE: CNN keeps another list here. Same thing, this woman does not exist.
Monday, January 30, 2006
Ted Kennedy is Losing It
Apparently the senior senator from Massachusetts believes that if Judge Alito is confirmed it will be the end of human rights as we know it. The 13th through 15th ammendements will be overthrown by judicial fiat, Halliburton will take over the US military, and women will be wearing burkas on the streets of San Francisco. This guy is losing it. Someone needs to take care of him before he has a stroke or drives off a bridge or something. You can catch the video at Expose the Left.
Sunday, January 29, 2006
Inflation and the Sears Catalog
Economic naysayers often point out that wages adjusted for inflation are pretty much at the same level now as they were 30 years ago. While this is technically true, I feel that it is a rather weak claim to make that we have had no economic progress over this time period. Inflation, especially as measured by the CPI, has a difficult time tracking trends over the long run, paritcularly in the quality of a good. This has been such a big problem that they have even had to redo the way that they estimate inflation, and some economists have estimated that the CPI is off by more than 1% a year, which over a 30 year period is a huge difference. The always interesting Cafe Hayek addresses this issue through the (admittedly unscientific) but simple aproach of buying an old Sears catalog and comparing the goods in the catalog with what you could buy today. Check out the link, it is rather enlightening.
Of course, there’s been a good deal of dollar inflation since 1975. Judged by changes in the consumer-price index, what $100 bought in 1975 takes about $354 to buy today. So that six-digit calculator would today cost about $49. Sears lowest-priced microwave oven in 1975 would today set you back $672.
Here are some other 1975 products and their 1975 prices (along with their inflation-adjusted 2006 prices):
Sears Best kitchen range, $589.95 ($2,088).
Sears Best television, $749.95 ($2,655)
Sears Best black and white television, $137.95 ($488)
Sears Best typewriter, $278.99 ($988)
Sears Best motion-picture camera (no sound; but it did have 8X zoom!), $197.00 ($697)
Sears lowest-cost telephone answering machine, $99.50 ($352)
Sears highest-priced tent for four adults, $84.88 ($300)
Of course, there’s been a good deal of dollar inflation since 1975. Judged by changes in the consumer-price index, what $100 bought in 1975 takes about $354 to buy today. So that six-digit calculator would today cost about $49. Sears lowest-priced microwave oven in 1975 would today set you back $672.
Here are some other 1975 products and their 1975 prices (along with their inflation-adjusted 2006 prices):
Sears Best kitchen range, $589.95 ($2,088).
Sears Best television, $749.95 ($2,655)
Sears Best black and white television, $137.95 ($488)
Sears Best typewriter, $278.99 ($988)
Sears Best motion-picture camera (no sound; but it did have 8X zoom!), $197.00 ($697)
Sears lowest-cost telephone answering machine, $99.50 ($352)
Sears highest-priced tent for four adults, $84.88 ($300)
Geez, Could You Be More Paranoid?
I was driving near Portland this weekend and flipping through radio stations when I came across Air America. Since it is always good for a laugh, and I figured I could double their audience, I listened for a while. The name of the show escapes me but a listener called in and gave a dramatic story of his. Apparently the listener's 17 year old daughter had a bomb threat at school and had called him on her cell phone to report that. Much to the delight of the hosts he told of his fear of talking about bombs on the phone, his voice was practically quivering in melodramatic angst, presumably because the NSA was listening and would soon swoop in and grab him. The next thing you know he would be in a room with Jack Bauer asking him, "Who do you work for?"
OK, now I can understand that people may be concerned about the oversight of certain intelligence programs, but unless the guy's daughter was speaking in Arabic and goes to high school in Islamabad, I seriously doubt they were in much danger. Does he honestly think that our intelligence agencies somehow suspect that Osama bin Laden has moved to San Dimas California and turned into a 17 year old girl?
OK, now I can understand that people may be concerned about the oversight of certain intelligence programs, but unless the guy's daughter was speaking in Arabic and goes to high school in Islamabad, I seriously doubt they were in much danger. Does he honestly think that our intelligence agencies somehow suspect that Osama bin Laden has moved to San Dimas California and turned into a 17 year old girl?
Saturday, January 28, 2006
And You Thought Playing Christina Aguilera Could Make Al Qaeda Prisoners Talk
Although we would be talking serious violations of the Geneva Conventions.
MIAMI -- Former Attorney General Janet Reno got up and sang Aretha Franklin's "Respect" at a Miami fundraiser Thursday night.
The karaoke performance was caught on tape.
MIAMI -- Former Attorney General Janet Reno got up and sang Aretha Franklin's "Respect" at a Miami fundraiser Thursday night.
The karaoke performance was caught on tape.
Friday, January 27, 2006
Ted Kennedy at Mos Eisley
Bad legal arguments aside, I was struck by the poor grammar and sentence structure of the hero of Chappaquidick's post at the far left website The Daily Kos. I guess that is what happens to your education when you get kicked out of Harvard, twice, for cheating. H/T Michelle Malkin.
Those conversations - and the overwhelming calls, letters, and e-mails I've received make it clear that the issue is all-important if our progress is to continue. The right wing is salivating over the prospect of Justice Alito on the Supreme Court, and the Republican majority in the Senate intends to rubber-stamp the nomination. The only realistic way to stop this nightmare is to stand up using tool we have.
To plagiarize Taranto, Mary Jo Kopechne was unavailable for comment.
As an aside, I also can't help but find the Kos Kidz komments amusing. Most telling is the wrath they display for Robert Byrd's reluctant support of Judge Alito. They don't appear to be offended by Byrd's former membership in the KKK, but confirming a judge who belonged to a conservative Princeton alumni organization is over the line!
Those conversations - and the overwhelming calls, letters, and e-mails I've received make it clear that the issue is all-important if our progress is to continue. The right wing is salivating over the prospect of Justice Alito on the Supreme Court, and the Republican majority in the Senate intends to rubber-stamp the nomination. The only realistic way to stop this nightmare is to stand up using tool we have.
To plagiarize Taranto, Mary Jo Kopechne was unavailable for comment.
As an aside, I also can't help but find the Kos Kidz komments amusing. Most telling is the wrath they display for Robert Byrd's reluctant support of Judge Alito. They don't appear to be offended by Byrd's former membership in the KKK, but confirming a judge who belonged to a conservative Princeton alumni organization is over the line!
Now this is What I Call "Bait and Switch"!
The title of a news alert e-mail received from the Seattle Times:
BREAKING NEWS: Finally! Seahawks going to Super Bowl for first time
The body of said e-mail:
State Senate passes gay rights bill
The Washington state Senate has passed a gay civil rights bill. More details to come.
They later sent out a corrected e-mail...
BREAKING NEWS: Finally! Seahawks going to Super Bowl for first time
The body of said e-mail:
State Senate passes gay rights bill
The Washington state Senate has passed a gay civil rights bill. More details to come.
They later sent out a corrected e-mail...
Freedom of Speech, If You Happen to Agree with Me
I saw this on Hannity and Colmes earlier in the week. Also Soundpolitics had a post on it. Now local columnist Robert L. Jamieson, hardly a crazed conservatives, criticizes the elite Lakeside School for disinviting conservative author Dinesh D'Souza because they were afraid students would be offended by being exposed to his viewpoint. Pretty sad for the alma mater of Bill Gates and Paul Allen.
Seattle's prestigious Lakeside School touts integrity, consideration and inclusion on its Web site.
These high-minded values are being tested at the private school that has produced great thinkers such as Bill Gates and Paul Allen.
Lakeside caved this month to political correctness, depriving students from hearing a viewpoint that would have sounded a different note on the progressive campus.
Seattle's prestigious Lakeside School touts integrity, consideration and inclusion on its Web site.
These high-minded values are being tested at the private school that has produced great thinkers such as Bill Gates and Paul Allen.
Lakeside caved this month to political correctness, depriving students from hearing a viewpoint that would have sounded a different note on the progressive campus.
Editorial O' the Day
This is why the Wall Street Journal has the best editorial page out there.
According to CNN, Senator John Kerry announced yesterday that he will attempt to rally his fellow Democrats to stage a filibuster to stop the confirmation of Samuel Alito to the Supreme Court. Apparently, this is not a parody.
Mr. Kerry made this dramatic political intervention from the World Economic Forum in Davos, Switzerland, where he was communing with his political base. He wants his Democratic colleagues to revisit the filibuster strategy that they used to such brilliant effect during President Bush's first term. Republicans assailed Democrats for this obstructionism in 2002 and 2004, and the issue helped them win a mere seven or eight seats in red states.
And this was after filibusters on obscure appellate nominees. Imagine the political gain for Republicans after a Supreme Court filibuster -- with all of its 24/7 publicity -- by blue-state liberals against a modest Italian-American with impeccable legal credentials and stainless ethics. Mr. Kerry really seems to believe that the country will rise up in fury when it discovers that Judge Alito believes that the Constitution gives a President wide powers to defend America.
According to CNN, Senator John Kerry announced yesterday that he will attempt to rally his fellow Democrats to stage a filibuster to stop the confirmation of Samuel Alito to the Supreme Court. Apparently, this is not a parody.
Mr. Kerry made this dramatic political intervention from the World Economic Forum in Davos, Switzerland, where he was communing with his political base. He wants his Democratic colleagues to revisit the filibuster strategy that they used to such brilliant effect during President Bush's first term. Republicans assailed Democrats for this obstructionism in 2002 and 2004, and the issue helped them win a mere seven or eight seats in red states.
And this was after filibusters on obscure appellate nominees. Imagine the political gain for Republicans after a Supreme Court filibuster -- with all of its 24/7 publicity -- by blue-state liberals against a modest Italian-American with impeccable legal credentials and stainless ethics. Mr. Kerry really seems to believe that the country will rise up in fury when it discovers that Judge Alito believes that the Constitution gives a President wide powers to defend America.
Metaphor O' the Day
From the Best of the Web:
John Kerry is following the New York Times editorial page's advice, which we noted yesterday, and promising to stage a futile filibuster of Justice-designate Samuel Alito's confirmation. Writing on DailyKos.com, the Mos Eisley of the Angry Left, Kerry declares:
"Mos Eisley spaceport: You will never find a more wretched hive of scum and villainy. We must be cautious. "
-Obi Wan Kenobi (Sir Alec Guiness)-
John Kerry is following the New York Times editorial page's advice, which we noted yesterday, and promising to stage a futile filibuster of Justice-designate Samuel Alito's confirmation. Writing on DailyKos.com, the Mos Eisley of the Angry Left, Kerry declares:
"Mos Eisley spaceport: You will never find a more wretched hive of scum and villainy. We must be cautious. "
-Obi Wan Kenobi (Sir Alec Guiness)-
Tuesday, January 24, 2006
At Least Get the Quote Right!
Those who are opposing the NSA listening in on suspected Al Qaeda phone calls without a warrant have been repeating a quote from Benjamin Franklin quite often. Here is just one example from the NY Times.
More than two dozen students in the audience responded by turning their backs on Mr. Gonzales and standing stone-faced before live television cameras for the duration of his half-hour speech. Five protesters in the group donned black hoods and unfurled a banner, quoting Benjamin Franklin, that read, "Those who would sacrifice liberty for security deserve neither."
The problem is, that isn't what the quote says:
Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.
Benjamin Franklin, Historical Review of Pennsylvania, 1759
Somehow I doubt that if General Washington were giving out orders to intercept and read all letters addressed to the British Army, Benjamin Franklin would consider this "giving up essential liberty".
UPDATE: Michelle Malkin imitates me. And she even has pictures.
More than two dozen students in the audience responded by turning their backs on Mr. Gonzales and standing stone-faced before live television cameras for the duration of his half-hour speech. Five protesters in the group donned black hoods and unfurled a banner, quoting Benjamin Franklin, that read, "Those who would sacrifice liberty for security deserve neither."
The problem is, that isn't what the quote says:
Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.
Benjamin Franklin, Historical Review of Pennsylvania, 1759
Somehow I doubt that if General Washington were giving out orders to intercept and read all letters addressed to the British Army, Benjamin Franklin would consider this "giving up essential liberty".
UPDATE: Michelle Malkin imitates me. And she even has pictures.
What Do These Two Countries Have in Common?
From the BBC:
Iraqis and Afghans are among the most optimistic people in the world when it comes to their economic future, a new survey for the BBC suggests.
Hmm, I think those two countries have been in the news a lot lately for something. I can't remember what. There must be something connecting them, but I can't put my finger on it... If anyone can think of anything let me know.
Iraqis and Afghans are among the most optimistic people in the world when it comes to their economic future, a new survey for the BBC suggests.
Hmm, I think those two countries have been in the news a lot lately for something. I can't remember what. There must be something connecting them, but I can't put my finger on it... If anyone can think of anything let me know.
Well I Agree With One Thing, He is a Wuss
It is hard to take anything in the LA Times seriously, they publish letters by Barbara Streisand for God's sake, but this guy is a moron. I have to give him some credit though, at least he is honest. This is less duplicitious to those who pretend to support our troops as some sort of prophylactic against their judgment and patriotism being questioned.
But when you volunteer for the U.S. military, you pretty much know you're not going to be fending off invasions from Mexico and Canada. So you're willingly signing up to be a fighting tool of American imperialism, for better or worse. Sometimes you get lucky and get to fight ethnic genocide in Kosovo, but other times it's Vietnam.
And sometimes, for reasons I don't understand, you get to just hang out in Germany.
I know this is all easy to say for a guy who grew up with money, did well in school and hasn't so much as served on jury duty for his country. But it's really not that easy to say because anyone remotely affiliated with the military could easily beat me up, and I'm listed in the phone book.
I am not sure what he is trying to imply by "did well in school", believe it or not, many of the people in the military do well in school too. Despite the limosuine left stereotype we are not all illiterate high school dropouts. The guy sounds kind of lazy and spineless too, but as I said, how hard is it to get a job with the LA Times?
Update: Apparently this genius got a bunch of nasty e-mails (big surprise). It is actually rather hard to get mad at him, or feel sorry for him for that matter, since he is so clueless it is sad. One only needs to look at his biography on the LA Times link.
Joel Stein is desperate for attention. He grew up in Edison, N.J., went to Stanford and then worked for Martha Stewart for a year. After two years of fact-checking at various publications, he got hired as a sports editor at Time Out New York. Two years later he lucked into a job as a staff writer for Time magazine, where over seven and a half years he wrote a dozen cover stories on subjects such as Michael Jordan, Las Vegas, the Internet bubble and — it being Time and he being a warm body in the office — low-carb diets.
Yeah, that is a good use of a Stanford education, working for Martha Stewart and pissing off the US Army.
He also made the mistake of talking with Hugh Hewitt. In a battle of wits, it was not a fair fight.
HH: All right. Now who is your...this is a column about the troops that begins, "I don't support our troops." We'll get to the specifics in a second. But who is your closest family member or friend who is on active duty?
JS: That's an excellent question. I wouldn't say I have a very close friend. I would say only acquaintances. No family at all.
HH: Who are your acquaintances?
JS: There was a guy who works at Time, that's where I worked last, who quit to serve in the military.
HH: What's his name?
JS: (pause) You know, I'm blanking on his name. But your point is well taken that I don't have many people that I even know who are in the military.
HH: Do you have any, though, other than this guy at Time whose name you can't remember?
JS: Who are serving currently?
HH: Yeah.
JS: Or ever served?
HH: No, serving currently.
JS: Or only in Iraq?
HH: Active duty. Anywhere in the world.
JS: (pause) I'd say I've been pretty isolated from that. I mean, that's a point I made in the column.
It only gets uglier from there...
But when you volunteer for the U.S. military, you pretty much know you're not going to be fending off invasions from Mexico and Canada. So you're willingly signing up to be a fighting tool of American imperialism, for better or worse. Sometimes you get lucky and get to fight ethnic genocide in Kosovo, but other times it's Vietnam.
And sometimes, for reasons I don't understand, you get to just hang out in Germany.
I know this is all easy to say for a guy who grew up with money, did well in school and hasn't so much as served on jury duty for his country. But it's really not that easy to say because anyone remotely affiliated with the military could easily beat me up, and I'm listed in the phone book.
I am not sure what he is trying to imply by "did well in school", believe it or not, many of the people in the military do well in school too. Despite the limosuine left stereotype we are not all illiterate high school dropouts. The guy sounds kind of lazy and spineless too, but as I said, how hard is it to get a job with the LA Times?
Update: Apparently this genius got a bunch of nasty e-mails (big surprise). It is actually rather hard to get mad at him, or feel sorry for him for that matter, since he is so clueless it is sad. One only needs to look at his biography on the LA Times link.
Joel Stein is desperate for attention. He grew up in Edison, N.J., went to Stanford and then worked for Martha Stewart for a year. After two years of fact-checking at various publications, he got hired as a sports editor at Time Out New York. Two years later he lucked into a job as a staff writer for Time magazine, where over seven and a half years he wrote a dozen cover stories on subjects such as Michael Jordan, Las Vegas, the Internet bubble and — it being Time and he being a warm body in the office — low-carb diets.
Yeah, that is a good use of a Stanford education, working for Martha Stewart and pissing off the US Army.
He also made the mistake of talking with Hugh Hewitt. In a battle of wits, it was not a fair fight.
HH: All right. Now who is your...this is a column about the troops that begins, "I don't support our troops." We'll get to the specifics in a second. But who is your closest family member or friend who is on active duty?
JS: That's an excellent question. I wouldn't say I have a very close friend. I would say only acquaintances. No family at all.
HH: Who are your acquaintances?
JS: There was a guy who works at Time, that's where I worked last, who quit to serve in the military.
HH: What's his name?
JS: (pause) You know, I'm blanking on his name. But your point is well taken that I don't have many people that I even know who are in the military.
HH: Do you have any, though, other than this guy at Time whose name you can't remember?
JS: Who are serving currently?
HH: Yeah.
JS: Or ever served?
HH: No, serving currently.
JS: Or only in Iraq?
HH: Active duty. Anywhere in the world.
JS: (pause) I'd say I've been pretty isolated from that. I mean, that's a point I made in the column.
It only gets uglier from there...
Monday, January 23, 2006
Well At Least They Would Finally Get Some Studying Done
I was rather amused to read about the ill effects of Wal-Mart as claimed by a WSU professor (disclosure: I actually delivered the Daily News for about a week, it was a for a fundraiser). H/T Soundpolitics.
Polousitics has the story:
Wal-Mart filed an application to build a 223,000-square-foot super center on Bishop Boulevard in October 2004. PARD formed in January 2005 to fight the controversial retailer’s presence in Pullman. That fight has included filing two appeals to Wal-Mart’s site plan and State
Environmental Policy Act checklist. A consolidated hearing on the two appeals began Jan. 13 and continued Friday. PARD presented about a day and a half of testimony from members and paid consultants about issues ranging from traffic and stormwater to the proposed store’s proximity to the Pullman cemetery.
Concerns also have been raised about noise and light pollution, including a much-discussed claim by Washington State University Professor James Krueger on Jan. 13 that light pollution could cause Pullman men to become impotent. He based the claim on research involving deer.
Polousitics has the story:
Wal-Mart filed an application to build a 223,000-square-foot super center on Bishop Boulevard in October 2004. PARD formed in January 2005 to fight the controversial retailer’s presence in Pullman. That fight has included filing two appeals to Wal-Mart’s site plan and State
Environmental Policy Act checklist. A consolidated hearing on the two appeals began Jan. 13 and continued Friday. PARD presented about a day and a half of testimony from members and paid consultants about issues ranging from traffic and stormwater to the proposed store’s proximity to the Pullman cemetery.
Concerns also have been raised about noise and light pollution, including a much-discussed claim by Washington State University Professor James Krueger on Jan. 13 that light pollution could cause Pullman men to become impotent. He based the claim on research involving deer.
Hybrid Tax Breaks for the Rich
As I have mentioned before, buying a hybrid is the environmental equivalent of buying a Mustang to pick up chicks (disclosure: I own a Mustang). From the Weekly Standard:
HYBRIDS ARE ALSO failing to pay for themselves in gas savings. A study by the car-buying website Edmunds.com calculates gasoline would have to cost $5.60 a gallon over five years for a Ford Escape hybrid to break even with the costs of driving a non-hybrid vehicle. The break-even number was $9.60 a gallon for a Honda Civic hybrid.
Hybrid automakers and their supporters have their defenses. They quibble with how some studies are done. They point out that even with their fuel economy shortcomings, hybrids achieve the best gas mileage in three of five vehicle categories rated by Consumer Reports. Hybrids are still far lower-polluting than diesels. Their sales are growing fast, even though they make up a small 1 percent of America's annual sales of 17 million vehicles.
Then there's the ultimate defense: They are just like conventional cars because drivers buy them for many reasons other than fuel savings and cost. There's the "prestige of owning such a vehicle," says Dave Hermance, an executive engineer for environmental engineering at Toyota, the leading seller of hybrids. After all, many vehicle purchases are emotional decisions, he says.
SO, HYBRIDS have become the environmental equivalent of driving an Escalade or Mustang. Who cares if they deliver on their promises as long as they make a social statement?
Taxpayers should. The federal government subsidizes hybrid fashion statements with tax breaks that benefit the rich. The average household income of a Civic hybrid owner ranges between $65,000 to $85,000 a year; it's more than $100,000 for the owner of an Accord. The median income of a Toyota Prius owner is $92,000; for a Highlander SUV owner $121,000; and for a luxury Lexus SUV owner it's over $200,000.
HYBRIDS ARE ALSO failing to pay for themselves in gas savings. A study by the car-buying website Edmunds.com calculates gasoline would have to cost $5.60 a gallon over five years for a Ford Escape hybrid to break even with the costs of driving a non-hybrid vehicle. The break-even number was $9.60 a gallon for a Honda Civic hybrid.
Hybrid automakers and their supporters have their defenses. They quibble with how some studies are done. They point out that even with their fuel economy shortcomings, hybrids achieve the best gas mileage in three of five vehicle categories rated by Consumer Reports. Hybrids are still far lower-polluting than diesels. Their sales are growing fast, even though they make up a small 1 percent of America's annual sales of 17 million vehicles.
Then there's the ultimate defense: They are just like conventional cars because drivers buy them for many reasons other than fuel savings and cost. There's the "prestige of owning such a vehicle," says Dave Hermance, an executive engineer for environmental engineering at Toyota, the leading seller of hybrids. After all, many vehicle purchases are emotional decisions, he says.
SO, HYBRIDS have become the environmental equivalent of driving an Escalade or Mustang. Who cares if they deliver on their promises as long as they make a social statement?
Taxpayers should. The federal government subsidizes hybrid fashion statements with tax breaks that benefit the rich. The average household income of a Civic hybrid owner ranges between $65,000 to $85,000 a year; it's more than $100,000 for the owner of an Accord. The median income of a Toyota Prius owner is $92,000; for a Highlander SUV owner $121,000; and for a luxury Lexus SUV owner it's over $200,000.
Update: Scrivener points out that many hybrid buyers don't even get their tax break anyway, due to the AMT.
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