Category Archives: Media

Johnny-Come-Krugman Diagnoses Depression

Debt, Economy, Federal Reserve Bank, Inflation, Media, Political Economy

Austrians like myself have long been calling this “recession” a depression. My WND colleague Vox Day wrote a book explaining why this economic downturn is a depression—the worst we’ve seen so far because of unprecedented levels of household and government debt. Now Paul Krugman, whose Keynesian voodoo I discussed in “Obama To G-20: Print More Money, Don’t Make It,” has, finally, diagnosed a depression.

This dangerous moron, however, believes depressions are caused by lack of spending—dips in demand must be compensated for by massive state spending, or else. That’s Keynesianism in a nut shell. Of course, be it on the macro or micro level, debt = decline + decay

HERE crazy Krug condemns the “resurgence of hard-money and balanced-budget orthodoxy”:

“…this third depression will be primarily a failure of policy. Around the world — most recently at last weekend’s deeply discouraging G-20 meeting — governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending.”

[SNIP]

Fans of Vox Day: write to our friend and urge him to write-up answers to the interview I sent him weeks back pursuant to reading the copy of “The Return of The Great Depression” he mailed me. Change the questions if you don’t like them, VD, respond to the Krug news; do what you like with my text, just get to it.

Chris Matthews’ Second (Daytime) Nocturnal Emission

Barack Obama, Bush, Homosexuality, Journalism, Left-Liberalism And Progressivisim, Media, Sex

The day Obama sacked Stanley was a good day for MSNBC’s Chris Matthews. As I observed, “Chris managed to disguise arousal with folderol about the act instantiating the genius of the Constitution.” Famous for experiencing something akin to a nocturnal emission when BHO was crowned—“thrill up the leg” he called it—Chris is now calling on Obama to become his Enforcer; make him feel as though BHO is cracking that whip. Hmmm. If I recall, Matthews didn’t much like it when The Decider did IT to him.

Visit msnbc.com for breaking news, world news, and news about the economy

UPDATED: Where Have All The Oil Rigs Gone? (Too-bin The Tit)

Barack Obama, Business, Economy, Energy, Environmentalism & Animal Rights, Law, Left-Liberalism And Progressivisim, Media, Political Economy

Under what authority does this president make it illegal for business to do business? Under the same grant of power that allows him to force individuals to buy a product, presumably. The result of BHO’s six-month moratorium on drilling in the Gulf of Mexico is that companies are beginning to depart. After all, it costs millions to sit idle. Wait a sec, perhpas the next step the encroaching state can take is to forbid the companies to leave. Ludwig von Mises warned that the road to socializing the means of production was paved with interventionism.

Yahoo News:

“Already, three rigs have left or are in the process of leaving the Gulf of Mexico,” Chett Chiasson, executive director of the port commission for the town of Port Fourchon, which services 90 percent of deepwater activity in the Gulf, told AFP. “If this moratorium goes for six months, these rig operators and these oil companies will have no choice but to go somewhere else,” with a devastating impact on jobs and the economy of Louisiana and the rest of the United States…”

WND reports that the scary James Carville “told CNN’s John King, ‘This president needs to tell BP, ‘I’m your daddy, I’m in charge. You’re going to do what we say.'”

Carville has tapped into a dominant sentiment among Americans—unless the networks are interviewing an unrepresentative minority.

To explain why he wanted money and lots of if from BP, one such mundane mind told one of the networks, “We are the parent; PB the child. We want to punish the child but not to make him leave the house.”

The other reason he gave: we live day-to-day here. I guess this will be a valid basis upon which to join the claims process. Right there you see what the problem is with a Chicago-style shake down, as opposed the legal claims process, where at least some evidence must be presented.

The “goose in folklore laid a golden egg a day until its greedy owner killed it in an attempt to get all the gold at once.”

UPDATE (June 22): TOO-BIN THE TIT (tit as in a “despicable or unpleasant person). Last night, the Alpha Female of CNN, Anderson Cooper, called on his legal analyst, Jeffrey Too-bin, to confirm what is known to every left-liberal with an opinion on how the law should work, but no knowledge of how it works (that’s tit Too-bin).

Too-bin was to predict whether New Orleans District Court Judge Martin Feldman would leave or lift “the Obama administration’s six-month moratorium on deepwater drilling.”

Tit was ponderous. He shook his curly pelt and indicated that BHO’s decree was so reasonable he could not envisage its overturn. And, in any case, the Powers That Be had wide discretion such as was seldom challenged by the Courts. It was all good, promised Too-bin. I made a mental note to revisit the tit when Feldman rendered the right ruling.

Contra the Too-bin, my instinct (located in my head) was that Judge Martin Feldman would indeed do what he did:

Issue “a temporary injunction Tuesday, lifting the moratorium and accusing [Interior Secretary Ken] Salazar of ‘arbitrary and capricious’ behavior that will cause ‘irreparable harm’ to 33 other deepwater oil rigs that the government unfairly assumes are unsound, despite the fact that all of them have been reinspected since the BP blowout on May 28.” [Washington Examiner]

Here is the Cooper/Too-bin tet`-a-tete´. Coming from an analyst, the Us vs. Them language is unbelievable:

Sorting it out tonight: CNN’s senior legal analyst, Jeffrey Toobin, who joins us from New York.

Jeff, what the companies bringing this suit — what do they have to prove to get the moratorium overturned?

JEFFREY TOOBIN, CNN SR. LEGAL ANALYST: They have to prove that the action by the Obama administration was arbitrary and capricious, it was simply an irrational act to do this. That’s a very tough standard to meet but that’s what they have — that’s what they’re trying to show.

COOPER: And Bobby Jindal, the governor here, he filed a brief along with the plaintiffs, saying the moratorium basically will turn an environmental disaster into an economic catastrophe. Those were his words. That’s really an economic argument he’s making.

TOOBIN: That’s right. It’s important to remember that the judge has a very narrow function in this case. He doesn’t have to decide whether it’s a good idea to have this moratorium or not. Judge Feldman’s (ph) job only is to decide whether the Obama administration was legally within its rights in establishing this moratorium. And it is legally within its rights as long as it acts in a rational way. That’s a very broad standard.

The economic arguments that Bobby Jindal made, you know, 4,000 jobs lost directly, 10,000 jobs lost indirectly. Those are arguments to be made to the Obama administration saying, don’t do this, it’s a bad idea. I don’t see how a court is going to take those arguments and say, well, that makes this beyond the pale legally.

COOPER: Yes. Essentially you’re saying the judge isn’t ruling on whether these rigs are safe or not, or whether that even matters. All he’s ruling on is the state of mind that the president had when he made this decision?

TOOBIN: Well, it’s not so much the state of mind — about whether there is a reasonable justification, whether the act of establishing this moratorium is a reasonable response. And when you have an economic — an environmental catastrophe like we’ve seen, shutting down these rigs for six months does not seem to me — and I suspect will not seem to the judge — as an irrational response.

Now, the companies — and Bobby Jindal points out, that a lot of these rigs that are being shut down, have passed their safety inspections. So why shut them down? That means it’s an irrational act to shut them down.

The government responds to that by saying, look, the Deepwater Horizon, it passed its inspections. That shows that the safety inspections aren’t good enough. We need the six months to fix the system. That’s an argument I think that’s going to be very tough to respond to.

COOPER: So, you think the judge is going to leave the moratorium in place?

TOOBIN: I think it’s very likely. When it comes to these sorts decisions where an administrative agency has a lot of discretion, judges are very reluctant to step in at the last minute and stop it, because they figure the agency has the expertise. The law gives the agency a certain amount of discretion. It would take an extreme irrational act to get a judge to stop it, and a six-month moratorium — and remember, it’s only six months, it’s not forever — I think is not something that the judge — that most judges would view as irrational.

COOPER: All right. Jeff Toobin, I appreciate it.

[SNIP]

We’ve gone from Too-bin to too-good. Yes!

Flotilla Choir Presents: 'We Con The World'

Israel, Israeli-Palestinian Conflict, Jihad, Media, Music

The thing I miss most about Israelis (I grew up in Israel) is their unique, acerbic humor. That wit is on display in “We Con the World.” Observe how the Flotilla Choir, among whom is the keffiyeh-clad Caroline Glick, lampoon not only the histrionics over Israel’s naval blockade of Hamas-controlled Gaza as being the “worst human rights violation in the world today,” but the parodying of the original sanctimonious line-up of “We are The World” (down to the dog-barking that is Bob Dylan’s singing).

I have observed that for the first time we are seeing a prouder, more determined, more PR savvy Israel. Larry Auster, one of the most interesting bloggers around, concurs. (Read his comments about this “brilliant, spirited, and quintessentially Western satire.”) He also provides the lyrics:

WE CON THE WORLD

There comes a time
When we need to make a show
For the world, the Web and CNN

There’s no people dying,
so the best that we can do
Is create the greatest bluff of all

We must go on
Pretending day by day
That in Gaza, there’s crisis, hunger and plague
‘Cause the billion bucks in aid
Won’t buy their basic needs
Like some cheese and missiles for the kids

We’ll make the world
Abandon reason
We’ll make them all believe that the Hamas
Is Momma Theresa

We are peaceful travelers
With guns and our own knives
The truth will never find its way
To your TV

Ooooh, we’ll stab them at heart
They are soldiers, no one cares
We are small, and we took some pictures with doves

As Allah showed us,
For facts there’s no demand
So we will always gain the upper hand

We’ll make the world
Abandon reason
We’ll make them all believe that the Hamas
Is Momma Theresa

We are peaceful travelers
We’re waving our own knives
The truth will never find its way
To your TV

If Islam and terror
Brighten up your mood
But you worry
That it may not look so good
Well well well well don’t you realize
You just gotta call yourself
An activist for peace and human aid

We’ll make the world
Abandon reason
We’ll make them all believe that the Hamas
Is Momma Theresa

We are peaceful travelers
We’re waving our own knives
The truth will never find its way
To your TV

We con the world
We con the people
We’ll make them all believe the IDF
Is Jack the Ripper

We are peaceful travelers
We’re waving our own knives
The truth will never find its way
To your TV

We con the world
We con the people
We’ll make them all believe the IDF
is Jack the Ripper

We are peaceful travelers
We’re waving our own knives
The truth will never find its way
To your TV.

Related: Reuters does its bit to help with the ruse.

Fox News reports:

“In one photo, an Israeli commando is shown lying on the deck of the ship, surrounded by activists. The uncut photo released by IHH shows the hand of an unidentified activist holding a knife. But in the Reuters photo, the hand is visible but the knife has been edited out.”

The blog ‘Little Green Footballs’ challenged Reuters’ editing of the photo.

‘That’s a very interesting way to crop the photo. Most people would consider that knife an important part of the context. There was a huge controversy over whether the activists were armed. Cropping out a knife, in a picture showing a soldier who’s apparently been stabbed, seems like a very odd editorial decision. Unless someone was trying to hide it,’ the blog stated.”