Culture of Corruption: Bob Etheridge (D-SC)

Apparently, it's poor form to ask Congressmen questions on the street. Nevermind that 60 Minutes has been doing this since Methuselah was a pup.

Here's what's billed as the raw video of Etheridge's assault on his questioners:

Now, as assaults go, this is pretty minor stuff, no doubt contained by the presence of the second video camera. Memo to the thug Etheridge: next time, bring some folk from the SEIU to dole out the Ken Gladney treatment.

The Christian Science Monitor asks “Bob Etheridge Incident: What Does He Have to Apologize For?” Beyond general rudeness, swatting at the camera, grabbing the questioner, putting him in a headlock, and general thuggery, I'm not sure. One can only suspect that without the second camera present, he would have behaved even worse.

In fairness to the CSM, the article isn't as clueless as the headline implies.

What we don't know pretty much boils down to the identity of the “students” taking the video. As the video shows, this is not an extraordinarily hostile confrontation. Is it a setup? Does it matter? Even assuming that these are operatives in the pay of the vast right wing conspiracy, all the thug Etheridge has to do is say something like “No, not completely” or “No Comment”, or “Not right now boys, I have to get to a meeting, so call my office”, or some such non-committal drivel. Any one of those responses is so bland that it wouldn't go viral in a bowl of vanilla pudding.

Nobody in the media seemed to care if George Allen's “Macaca” moment was a set up, least of all the Washington Post, but that's all that they will likely care about with this clip.

Thug Etheridge's “apology” can be found here. Certainly reads more like one of those “I'm sorry I got caught” moments than anything substantial. According to the AP, he'd just had a long day. I'm sure that that excuse would have worked for George Allen, and the WaPo would have forgiven all.

Well, they would have, if he had been a Democrat.

It's only a matter of time before some Democrat introduces legislation to make video cameras illegal outside of government sanctioned media outlets. Oh, wait – the FTC is getting ready to put this camel's nose inside the tent....

Greece Reject Moody's “Junk” Bond Rating

Can't believe that they are too surprised; perhaps they were holding out for the coveted “rotting carcass” status.

Mixed Nuts: Bruce Patterson*

The esteemed Mr. Patterson, a Michigan state senator (R-7 MI), is on his way to the Mixed Nuts Hall of Fame. Not for nothing does this dude sport a Snidely Whiplash mustache (though to be fair to Snidely, Mr. Patterson doesn't exactly sport Snidely's trim physique). It seems State Sen. Patterson is deeply troubled by the fact that there are people reporting on Michigan state politics who he hasn't heard of. Worse yet, they work for publications he hasn't heard of! The Horror!

Solution? Why, a State of Michigan “ Good Housekeeping Seal of Approval” for journalists!!! That way, the people will know who has the official approval of Michigan's government for their dose of propaganda! Double Plus Un-Good!**

This probably goes beyond the scope of the Mixed Nuts grab bag. Most of our honorees are simply stupid folk doing stupid things, usually with minimal threat to the body politic. Mr. Patterson's buffoonery, however, is something more than a zit on the buttock of the body politic, he's actively advocating the introduction of carcinoma.

And what might be the esteemed Mr. Patterson's requirements for his seal of approval? Here's the list:

“ According to the bill, reporters must provide the licensing board proof of:

--"Good moral character” and demonstrate they have industry “ethics standards acceptable to the board.”

--Possession of a degree in journalism or other degree substantially equivalent.

--Not less than 3 years experience as a reporter or any other relevant background information.

--Awards or recognition related to being a reporter.

--Three or more writing samples.

Reporters will also have to pay an application and registration fee.”

Let's translate:

“ Good Moral Character”: Never criticize the licensing board, or Michigan government in general.

“ Degree in Journalism”: Reliably liberal, but with no real knowledge of any particular subject matter relevant to government.

“ Not less than 3 years experience in something or other”: see “good moral character”.

“ Awards or recognition”: be really, really, reliably liberal, never criticize Michigan's government, and remain steadfastly ignorant and incurious about the affairs of state.

“ Three or more writing samples”: Be able to cut and paste official part press releases into “news” articles.

I think that that about sums up this petty fascist's proposal, don't you? After all, if Mr. Patterson gets his way, pieces like this will get the thumbs down from Michigan's new state censorship board. Of course, his operative assumption is that people who think like he does will always be in control of the “ licensing” board. One wonders what happens when they are not? What happens when control of the board passes to the ACORN / SEIU? The Truthers? The Birthers? The Tea Party? Insert your favorite boogey man here...

Thats's why a free country steers away from government endorsement of “approved” media.

* Just to be fair, having played “Name That Party” on other MSM posts, one should note that the Fox piece doesn't point out that bozo here is a Republican.

** To make this clear to the meanest intelligence, and I allude to Mr. Patterson's, this is a reference to Orwell's classic, 1984. Perhaps he should read it sometime. Assuming he can.

Mixed Nuts: Eileen Campo

Who is Eileen Campo? Just part of a group of parasites that expects other electric utility customers to subsidize her heating bill. Even worse, she pulled her kids out of school to fight for the right to have other people pay her bills.

Ms. Campo has been getting the welfare treatment on her electric bills – paid for by the rest of First Energy's customers – since 1992, and is grumpy that the gravy train is coming to a halt. For some reason, we're supposed to be upset that she's going to have to start paying her own bills.

I'd offer her a nickel to buy a clue, but it's apparent that it would just be another instance of throwing good money after bad. Especially after all of us First Energy customers have been chipping in on her utility bills for years.

Still, if you look to the “Citizens for keeping the all-electric promise” (CKAP) manifesto, as published by the Beacon, you'll get a glimpse of why the United States is headed the way of Greece:

• “A permanent rate differential for all-electric homes that can be passed on to new buyers of the home.

• Rate relief for homes built after 2007, which did not receive discounts or relief under recent PUCO action.

• Refunds of overcharges from May 2009 to now.

• A commitment that FirstEnergy, not other rate payers, should pay for the 'breach of promise.'”

Translation:

• I demand that the rest of First Energy's customers pay my bills.

• I demand that the rest of First Energy's customers pay the bills for those who never got the discount

• I demand that the rest of First Energy's customers send my money.

• I believe that the rest of First Energy's customers are too stupid to realize that they are paying for my tantrums.

For some reason, I'm unimpressed with the fierce moral urgency to fork over my cash to pay Ms. Campo's bills. I'm even less impressed with her inculcating her kids into the notion that they should be expecting handouts from the rest of us.

Really, is she so ignorant that she believes that there are fairies sprinkling pixie dust over First Energy's bank accounts so that the rest of the customers are not going to pick up the tab for her foolishness?

Memo to Ms. Campo: There is no magical pot of money that doesn't come from other First Energy customers. First Energy gave you a discount – at my and others' expense – for a number of years. Man up, shut your trap, buy a gas / oil / propane furnace, and stop teaching your kids that they can prey on their neighbors to pay their bills.

Fear the Boom and Bust

The now famous Keynes v Hayek rap:



Should be required watching in Washington. Sadly, the bulk of Keynes' reputation is based on telling politicians exactly what they want to hear. Kinda like the IPCC on global warming....

“Ohioans Wonder Whether New Rail Line Will Be Too Slow, Underutilized”

According to the Plain Dealer.

Fortunately, I have a master's degree in the obvious, so I can lay this disquiet to rest.

1. The trains will be too slow. Topping out at 79 MPH? I've seen cars on 71 moving well into the 80s. Additionally, you have the added time of travel to the train station, waiting to board, travel from the station to where ever you are going. This adds aggravation as well as time to your journey.

2. They will be underutilized. Cleveland – Columbus – Dayton – Cincinnati. On a daily basis, I can't see these things selling 80-90% of seats. Will there be multiple departures per day? If not, that adds to the travel time & inconvenience factor noted in #1. However, with multiple departures, you have more capacity to sell. Without multiple departures, car travel becomes even more competitive.

As a bonus, let's consider two additional factors.

1. The actual cost will far exceed the $400 million in “ stimulus” money. There aren't many government projects that come in either on time or at / below budget. Just wait until every county commissioner's relative scores a payday on this boondoggle.

2. Given the high level of price and convenience competition from automobiles, prices will have to be set low to generate ridership. That spells endless subsidies. I suspect that Amtrack hasn't earned profit dollar one, and if you can't make it on the DC-Balt-Phil-NYC-Boston corridor, what makes you think that Cleveland to Cincinnati is going to make a buck? Answer: it won't. This will be a millstone around the taxpayer's neck until it is shut down. And pols never shut down things that waste the taxpayer's money.

Economic competitiveness and future growth does not depend on herding people into uneconomic activities that only provide photo ops for politicians, along with untold millions in taxpayer subsidies.

Why Air America Failed

Air America was always more of a partisan political operation, rather than a business. Explicitly built to counter the nefarious influences of Rush Limbaugh, Sean Hannity, etc., they never understood the nature of their real competition. Revenge isn't usually a viable business model.

NPR. Established pretty much everywhere, with the benefits of tax subsidies, university alliances, etc., NPR has already cornered the market for liberal leaning talk radio commentary, and for the most part, still carries a patina of a non-political operation.

The other main factor leading to Air America's demise – beyond their shady finances – if we look at the broader market for left wing commentary, it's already saturated. By the NY Times, Washington Post, CBS, ABC, NBC, CNN, etc. There just wasn't that much unmet demand for their product.

WSJ Satirist Thomas Frank

Provides today's liberal revenge fantasy has the treasury selling off it's gold stock, for the simple expedient of financially ruining the wingnuts. Let's go after the goldbugs by having the Treasury sell it's estimated 261 million ounces of gold!

That will fix those wingnuts! Drive the price down from today's about $ 1,100 per ounce to.. ?

Given the tremendous ad and news push running up gold, there's always the risk of a popped bubble as more folks sell. Prices move both ways (as I learned at great personal expense during the Nelson Bunker Hunt silver run in, I recall, the 80's. So, can gold go down? Can the government, at least in the short run, supress the price by selling off it's supply?

Yes.

Technically, the U.S. Government's gold stock does not underpin the value of the dollar. Practically, I'm not sure that the Chinese – or others holding large amounts of U.S. Dollar denominated debt – would see it the same way.

So, what happens when we decide to spite the goldbugs? The international markets drop their dollar denominated holdings for the gold that the Treasury is selling.

Temporary gold price drop. Long term hit to Treasury securities, and U. S. Government borrowing costs.

And the goldbugs? Most are diversified, and will will perversely benefit in the long run from the collapse that Tom's suggesting.

Nice work Tom. Glad you're only the WSJ's court jester.