Memorial Day
Trident Frog sportswear will donate $2 for every shirt sold this Memorial Day Weekend (today through May 28th) in honor of Lt. Michael Murphy, Medal of Honor winner and fallen Navy SEAL.
Manny Mota...Mota...Mota (OK, not a helpful title...this blog is mostly about Economics, the Markets, Politics...and during the football season also about the New York Giants)
That President Obama lost roughly 40 percent of the vote in Democratic primaries in Arkansas, Kentucky and West Virginia over the last two weeks has drawn massive national headlines.
Those headlines have drawn a collective eyeroll from Democrats — and many others who closely follow national politics — who ascribe the underperformance by the incumbent to a very simple thing: racism.
No, none of these Democrats are willing to put their name to that allegation — either generally or for this story. But, it is, without question the prevalent viewpoint they hold privately.Yup, nobody's said it but they're all thinking it. Huh? How would he know? Anyway, let's move to quash the notion on the merits. There is, of course, a mountain of evidence that Obama's economic policies have simply failed to encourage economic recovery at best or have actively inhibited recovery at worst. Furthermore there are legitimate criticisms that Obama's foreign policy is counter to the nation's interest, dangerous, ineffective or all of the above. Third, there is a mountain of anecdotal evidence that Obama, the man, is nothing of what he told the American people he was - uniter, no-drama, yadayada - during the 2008 campaign. Finally, Obama has racked up an impressive list of regulatory strong-arming, cynical propaganda campaigns, and cronyism to say nothing of the brazen assaults on core constitutional rights and freedoms, which have launched a number of high profile legal challenges - the latest of which is the suit by 43 Catholic institutions over HHS's contraception mandate. But no matter, voters' seeming displeasure simply has to be racism.
Kathleen Sebelius is certain that reducing pregnancies will cut costs and thereby justify subsidies of birth control, and yet she is completely unsure of the basic estimates of the effect of Obamacare on the federal deficit. What has always amazed me is that Barack Obama does not see this woman as a liability for him. Janet Napolitano too but that's another subject, or maybe it is the same subject...Spengler's psychoanalysis may be spot on, but since I generally don't give much credence to that discipline I have to go with a simpler explanation: Obama doesn't know the difference between good performance and bad performance, he only knows agreement and disagreement, obsequiousness and disobedience.
"I stand by my February 2008 profile of Obama as a sociopath dominated by strong women."
"I guess when you've never had executive authority, and thus responsibility for evaluating those working for you, you don't develop an ability to know who is good and who is bad at what they do."Such is the price of electing a man of no accomplishment and questionable character to the highest office in the land.
"So what went wrong? All the available Keynesian levers for achieving economic growth have been pulled, yet the recovery is one of the weakest since World War II. The problem lies with the way the “stimulus” was carried out, the uncertainty of looming higher taxes, and the anti-business rhetoric and regulatory strong-arming of this administration."Baseball in July 2011:
"In my view, even if the stimulus could have possibly worked (which I believe it couldn't have), it was neutered by the damaging rhetoric and policy agenda of this President and the Pelosicrats as I have noted here. What the stimulus offered with one hand, the poisonous anti-business stance of Washington DC caused to be withdrawn by the other hand. For all their purported expertise in Keynesian economics, they were ignorant of what Keynes dubbed the "animal spirits" of the economy, which they have succeeded in thoroughly and relentlessly crushing."Oh, and there is also this:
I predicted, more or less, this sequence (here, here, here, here) upon the election of our 44th President:
1) Barack Obama and the Democrats attack business relentlessly with rhetoric and punitive legislation and regulation;
2) businesses pull back substantially on investment;
3) the economy suffers or languishes at best;
4) the poor economy sinks the Obama presidency and many Democrat's careers.
Check out this post at Carpe Diem, as evidence of #2. #s 1 and 3 are hardly in dispute. All that's left is the crying, or #4.
President Barack Obama will offer school districts the chance to compete for awards from a $400 million program by designing plans to individualize classes and improve student achievement.
The awards, of as much as $25 million each, will target districts that “focus on transforming instruction so that it meets all students’ learning abilities,” the Education Department said in a statement today. The department will take comment on the criteria for the awards competition through June 8, according to the statement.Hmmm, let me guess. I'm willing to wager that some
Karol Sikora, a leading cancer specialist who examined Megrahi shortly before his release, explains that predicting how long a patient with end-stage prostate cancer has to live is "a value judgment of probability," not an exact science. But Dr. Sikora also writes that his initial three-month prognosis was "based on his treatment as an NHS patient in Glasgow at the time, when not even standard docetaxel chemotherapy was offered." By contrast, "Mr. Megrahi almost certainly had excellent care in Tripoli."
Think about that one: Get treated for cancer by the U.K.'s National Health Service, and you'll be dead by Christmas. But get treated for the same cancer in Libya, and you may have years to live. No wonder Americans are terrified of government-run medicine and rationing boards.Yikes.
Fewer than half of the graduates from last year’s class have as yet found full-time jobs. Most are still looking.
Last three years, huh? What's going on here...I wonder.
That’s been the pattern over the last three graduating classes: It’s been taking them more than a year to land the first job.
Iran has discovered oil in its Caspian Sea waters for the first time in more than a century, the state-run Fars news agency reported.
The deposit was found at a depth of 2.5 kilometers (1.5 miles) during drilling on a natural-gas field and may contain 10 billion barrels of crude, Fars said, citing the National Iranian Oil Co. That's equal to 7 percent of Iran's known reserves.and Bangladesh finds a nice haul of 137 million barrels.
DHAKA, Bangladesh - Bangladesh has discovered oil in two old gas fields in the country's northeastern region with an extractable reserve worth $5.5 billion, the chairman of state-owned Petrobangla said Monday.
Hussain Monsur said the two finds at Kailashtila and Sylhet contain proven reserves of 137 million barrels of low sulphur crude oil, of which 55 million barrels can be lifted commercially.
Upward revisions to retail sales for prior months suggest real consumer spending (including services) increased at a 3% annual rate in Q1. With two more months to go, it looks like real consumer spending is growing at about a 2.5% rate in Q2. Mixing this data with today’s report on inventories suggests later this month Q1 real GDP will show a downward revision to a growth rate of 1.8%. The original report for Q1 had a growth rate of 2.2%, but, since then, inventories have been revised downward.Davids Axelrod and Plouffe, call your office...major phony "vampire" and/or "war on women" and/or "I am gay and I killed bin laden" campaign push needed...
How the mighty have fallen. The New York Times may still be trying to perform mouth to mouth resuscitation on the decomposing OWS corpse, attributing continuing policy influence sans evidence of any kind to a movement that has all but completely disappearedMany impulsive people bet on the wrong horse here. That's fine, except when you are a leader and you bet your institution's credibility. The damaged credibility is hard to regain. Granted he's at retirement age, but I wonder if this didn't play a role in Bishop Mark Sisk's retirement.
"Bill Clinton said Tuesday that President Barack Obama’s goal of hiking taxes on the rich alone is not enough to solve the country’s fiscal woes and suggested that middle class Americans must also eventually contribute more."Translation: The "Buffett Rule" is totally phony, and everybody's taxes are going up in an Obama Term Two. Can you just hear Axelrod & Co. in campaign HQ, "Ah, um, er...thanks Bill?"
A fair question might be “What exactly has Mrs. Nooyi been doing for four years other than letting the company’s flagship product wither and it’s marketing talent flee?” Easy. Trying to sell healthy foods. But it’s more than that. The strategy is apologetic, it reeks of shame and a desire for absolution and forgiveness. Ms. Nooyi has infected a successful US company with the destructive ethos of global do-goodism. Instead of understanding Pepsi’s success and taking pride in producing products that are loved the world over, Pepsi donned the hair-shirt and acted as if it was some kind of an NGO.Well that is about to change. Uber-activist investor, Ralph Whitworth is reported to have taken a stake in Pepsico. When Whitworth crashes your party, a CEO departure is usually the minimum amount of change in the offing. Nooyi's run dressing Pepsi up as an acceptable company by the standards of global elites is over.
Banks holding New York City treasury funds would be required to disclose investments and business practices in neighborhoods under a law City Council members say they’ll pass today.
The bill... would also create a community-investment advisory board in the Finance Department that would review banks’ branch locations, loans, delinquencies and foreclosures organized by census tract. Officials could use the information to determine whether the city should deposit its funds there, according to the text of the bill.At least it appears that Mayor Nannyberg will veto the bill. If not, if I'm running any of these banks, the solution is very simple, "where should we send your deposits NYC, they are not welcome at our bank any longer?"
...
“This bill is designed to make banking reinvestment activity transparent, fair, and, above all, constructive, for our working-class communities,” Councilman Domenic Recchia Jr., a Democrat from Brooklyn who co-sponsored the measure, said in an e-mail"
"We're committed to making health care reform work for you and your employees. As we take steps to to put the Affordable Care Act into action, we do our best to limit administrative burdens for you, our customer."Now others may interpret that differently, but, at least in my reading, that is not what I would call whiz-bang propaganda. First, the benefits are not self-evident, they seem to require commitment on the part of my insurance provider. Second, they are doing their best (code for "we can't actually do it, so we are telling you that we are doing our best") to limit the mal-effects of the law. The law has mal-effects? Really, thanks for telling me.
...we will send a check to you if a rebate is due. You will then distribute to enrollees, based on the amount of premium paid by the employee. Don't worry. If this happens, we will provide you tools and assistance in making that calculation."So basically, getting this money, if you get it, is going to be a hassle. Only the government could make receiving money a prospect over which one must be reassured is not a cause for worry.
"The medical loss ratio is the percantage of premiums (less federal and state taxes and licensing or regulatory fees) that insurers spend on medical care."So, you gave us money and we're giving you some of it back, after, of course,the government gets its cut via "federal and state taxes and licensing or regulatory fees." Gee thanks, I'm sure the government will only take a miniscule slice and why do we have this middleman again?
Obama has been told it's over. He will not be given the keys to the Democratic Party's future and be allowed to own the vast apparatus of the party's traditional assets for decades to come as an all-conquering two term President. His presidency is in caretaker mode. No, not as Peter Beinart posits in his latest nitwittery, where Obama is the caretaker of a declining America, but rather where the Clintonites are the caretakers of a declining Obama.The Clintons will simply not allow Obama to be the second and reigning two-term Democrat President since FDR and thus hold the keys to the Democratic Party. An admixture of ego and a responsibility to keep the Democrat Party strong is driving Bubba and Hill to softly (for now) undermine Obama and ease him into a cushy retirement. Don't believe me? Ask yourself why Bill Daley was the source of all the WaPo's damaging exposes of O's leadership? Ask yourself why Mort Zuckerman sounds like a Tea Partier with his frequent and no-holds-barred critiques of O's economic policy. And ask yourself why Obama's fundraising has struggled and he's had to resort to $3 raffle tickets (hint: the big donors are Clinton people).
Bending to strong public opposition, the nearly bankrupt U.S. Postal Service on Wednesday backed off a plan to close thousands of rural post offices after May 15 and proposed keeping them open, but with shorter operating hours.Oh, and by the way, we're probably going to lose $10 billion this year...
The Sisyphean task of funding U.S. state and local-government retirement plans, a hidden risk for municipal-bond investors, will get even more daunting under proposed new accounting rules.They haven't even been balancing the cooked books, so this is going to be quite revealing.
Pensions in Illinois, New Jersey, Indiana and Kentucky may have less than 30 percent of the assets needed to cover promised benefits under the measure, according to data from the Boston College Center for Retirement Research. The changes, which take effect starting in June 2013, will alter how liabilities are calculated and how assets are reported on financial statements.
Illinois, which already has the U.S. state pensions with the widest gaps between assets and promised benefits, will see two of its funds fall to the lowest among the 126 plans studied by the Boston College center. The state Teachers system’s funded ratio will drop to about 18 percent, the lowest level in the study, from 48 percent, and the State Employees’ Retirement System of Illinois will sink to 22 percent from 46 percent, ranking second.
...
New Jersey’s Public Employees’ Retirement System will see its funded ratio drop to about 30 percent from 62 percent, while the New Jersey Teachers’ Pension & Annuity Fund will fall from almost 58 percent to about 25 percent, according to the Boston College study released in November.
• Step 1: The first step determined whether each school's students were performing better than statistically expected for the average student in the state. We started by looking at reading and math results for all students on each state's high school proficiency tests. We then factored in the percentage of economically disadvantaged students (who tend to score lower) enrolled at the school to identify the schools that were performing better than statistical expectations.So, if you have a school of entirely middle class white kids, this methodology will toss that school out of the analysis. This is how you wind up with silly results like Yonkers Middle High School as #24 and Elizabeth (NJ) High School as the sixth best in NJ and 134th nationally. Laughable, but this is what liberals do. That is why the US is routinely shown to have a crappy healthcare system by outfits like the World Health Organization because they overweight "access" and "affordability" in order to demote more free-market based health systems. But this is journalistic malpractice, people rely on these ratings to make important decisions about where to live. Furthermore it tells mediocre schools that they can rest on their laurels, that no changes are needed. Too bad, I doubt students and parents at, say, Yonkers Middle High School feel that they actually have the 24th best school in the country, but their teachers and administrators will act as if they do and resist any critique of the status quo.
• Step 2: For those schools that made it past this first step, the second step determined whether the school's least-advantaged students (black, Hispanic, and low-income) were performing better than average for similar students in the state. We compared each school's math and reading proficiency rates for disadvantaged students with the statewide results for these student groups and then selected schools that were performing better than this state average.
Who are these people who are immigrating to North Carolina today? Many are African
Americans whose families once left the state and are now returning to find jobs, to retire,
or to improve their quality of life. The end of segregation in the South in the 1960s has
made more of the new jobs available to African Americans. A lessening of racial tension
has also made life in the South more attractive. Meanwhile, racial problems, crime,
violence, a decline in jobs, and disappointment with the quality of life in urban areas of
the North have led many Black North Carolinians to return home. Many African
Americans say that they are returning to be with family members they left behind, to find
work, and to find safer schools and communities than they could find in the North.
...
Another group of people who have come to North Carolina are people of Hispanic
heritages. In 1990, the number of Hispanics living in the state reached 76,726, a 35.5
percent jump over 1980.
...All these minorities, it must be told, seem to be cancelling out the influence of all those northeastern liberals that have moved to NC...or maybe those liberal transplants have been mind-melded...
Still other people are coming to North Carolina from other countries to find work or to
escape persecution in their home countries. The fastest growing segment of these inmigrants
has been Asian, with their population more than doubling between 1980 and
1990 from 21,168 to 52,166 people.