*Some Chicago Boyz know each other from student days at the University of Chicago. Others are Chicago boys in spirit. The blog name is also intended as a good-humored gesture of admiration for distinguished Chicago boys including those pictured above (we claim no affiliation), and others who helped to liberalize Latin American economies.
 
 

 

Quote of the Day

Posted by Jonathan on March 21st, 2010 (All posts by Jonathan)

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The President has just given away the contents of half the nation’s wallets by arranging things so that the survival of the other half depend on getting it.

-Richard Fernandez

 

Posted in Economics & Finance, Health Care, Politics | No Comments »

Worth Reading: Advice to War Presidents: A Remedial Course in Statecraft

Posted by Joseph Fouche on March 21st, 2010 (All posts by Joseph Fouche)

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Advice to War Presidents: A Remedial Course in Statecraft comes close to fulfilling the premise of its title. Written by Angelo M. Codevilla, it may be the clearest discussion of statecraft you’re likely to get from an American.

Codevilla puts a great deal of emphasis on two themes throughout the book:

  1. Seriousness.
  2. Proper naming.

He argues that American statecraft has been haunted by three spirits of obfuscation and unseriousness since around 1900: Liberal Internationalism, Realism, and Neoconservatism. Codevilla sums up the three: “As Liberals think that all well-administered peoples are alike and Neoconservatives that all democrats are alike, Realists think that all “moderates” are alike.” The fundamental problem Codevilla finds with all three strains of American foreign policy thinking is that they:

  1. Assume everyone in the world is an American under their skin.
  2. Assume foreign policy consists of scratching foreigners until the true inner American is revealed.
  3. Are ignorant or deliberately paper over the essential proposition that foreign policy deals with foreigners.
  4. Obfuscate the meaning of words such as diplomacy and war away from their basic dictionary meanings.

Codevilla is not kind to what he sees as the wanton unseriousness and obfuscation of America’s twentieth and twenty-first century elites:

Twentieth-century American elites, however, have committed our country to the grandest of ends but have not measured them against the means necessary to achieve them—ends hazily imagined, and means they might not have used even if they had them. Instead of scaling up means or scaling down ends, they invented vocabularies to describe a fantasy in which the means with which they felt comfortable would suffice to remake the world. This meant abandoning the wisdom concerning peace, war, diplomacy, intelligence, prestige, and economics accumulated in our civilization over millennia. In the new, unprecedented world they imagined, any given instance of peace was not the product of a particular peace victory and arrangement of power but rather the absence of conflict. Diplomacy was not a set of tools but a substitute for force. Intelligence was not a matter of a few hidden details but a magic wand to uncover the secret to effortless success. Prestige was a reputation, not for being effective but for being pleasant. Wealth was not one of many elements of power but everyone’s overriding purpose.
 
To be other than sorcerers’ apprentices, American statesmen had better deal with reality as described in dictionaries. This book does not impose its own categories. It looks at international affairs as the interactions of individuals and groups who are what they are, want what they want, and do what they do. It is about the consequences of forgetting common-sense definitions: that diplomacy is mere communication, that international intercourse requires a positive imbalance of means over ends, that allies are available in inverse proportion to the need for them, and that war is the avenue to peace via the gateway of the enemy’s death or submission.

Codevilla covers each major element of statecraft in its own chapter: diplomacy, economic power (money—money—money), war, intelligence, and civil defense (also known by the heavily Teutonic name of “homeland security”).

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Posted in Book Notes, International Affairs, Military Affairs, National Security, War and Peace | 2 Comments »

A Question

Posted by Ginny on March 20th, 2010 (All posts by Ginny)

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Is it just me, or is Paul Ryan’s I.Q. (or tenacity, research or thoughtfulness or whatever) a difference in kind rather than in degree from Democrats with whom he spars? Nerds/wonks like that aren’t great presidents, but I’d sure like him on the side of anyone who is. Give him some power and he’d clearly feel restrained by the possible, the practical. He respects us – and those with whom he argues. And he just seems so damn right.

Am I missing something – or, if I’m right, why do his remarks seem to slide off other’s well-oiled backs as if they were water? Of course, your average nerd doesn’t have hair that black and eyes that blue – he reminds me of that old Irish saying, God put in those blue, blue eyes with smokey fingers.

 

Posted in Health Care, Politics | 11 Comments »

Hubbard Street Dance Facility

Posted by Carl from Chicago on March 20th, 2010 (All posts by Carl from Chicago)

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I do not know much about modern dance but went to a show at Hubbard Street Dance on the north end of Millennium Park (right behind the cool music shell) and their facility has interesting colors and neon lights. I only had my crappy blog camera with me and took some photos. It reminds me of an updated version of the United Airlines connecting tunnel between terminals B and C at O’Hare.

 

Posted in Chicagoania, Photos | 9 Comments »

“It’s Now or Never”

Posted by onparkstreet on March 19th, 2010 (All posts by onparkstreet)

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“If you want to make your voice heard on the health-care bill before the House votes on Sunday, you’d better do so quickly.” – Ed Whelan, NRO (via Instapundit)

Don’t stop calling even if the vote ends up passing the thing. I’m quite serious about this. Keep relaying your concerns, keep calling, keep at it. Actions should have consequences.

Update: Oh goodness, Instapundit is linking to this report of an incident in which serial phone calling to a Congressman’s office is interpreted as a form of harassment (Huh? How is that harassment? It’s about a specific bill that the Congressman is voting on ?)

Well, I certainly don’t want anyone harassed or treated in any way other than civilly and decently. I wonder, however, if such incidents are inevitable given that technology has empowered us “little people” (an Army of Davids!) to repeatedly call, or text, or fax our Congressman, while the low-tech Congressional side is nothing other than a person logging the calls or texts or faxes. I don’t think this dynamic is going to change any time soon, and in an odd way, highlights the problems with a central authority attempting to deal with such a complicated phenomenon as rapidly changing technology. It’s yet another illustration of why health care shouldn’t be managed by central authorities… .

 

Posted in Health Care | 18 Comments »

Mini-Book Review — Smith — The Strong Horse

Posted by James McCormick on March 18th, 2010 (All posts by James McCormick)

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Smith, Lee, The Strong Horse: Power, Politics, and the Clash of Arab Civilizations, Doubleday, 2010, 256 pp.

Strong Horse is a series of conversations, observations and recollections of the author’s experiences in the Middle East over the last decade … focusing on Cairo, Beirut, Israel and Damascus. Living in Brooklyn, Smith took the events of 9/11 as a personal challenge to study in the region. That led him to discussing the political and social culture of the Arab world with individuals as varied as Sufi scholars, Koranic recitators, Lebanese Druze warlords, and Cairo doormen … engaging as well with more famous names such as Naguib Mahfouz (Egyptian Nobel Laureate in Literature), Edward Said, Omar Sharif, and Natan Sharansky.

As the title of the book suggests, Smith feels the conflicts of the Middle East are largely an internal clash of Arab civilizations and involve the “captive” peoples (Copts, Druze, Christians, Jews, Sufis, Shia, etc.) who must somehow survive with Sunni majorities and governments in the region. The spillover of violence into the West, while constant, is therefore largely a secondary effect. The key question, the author believes, is over “who’s the real Muslim?” Since that bloody debate, by definition, doesn’t extend to the infidels, violence in the non-Muslim world is usually some form of manipulation in benefit of domestic agendas. The evidence of the last decade suggests the Arabs reserve the lion’s share of their bile and violence for each other. Though they provide unrelenting warnings about the dangers of inciting further violence by Muslims (through American actions in Iraq and Afghanistan), such concerns never seem to translate into a lighter hand by authorities within the region. It is this observation which leads Smith to propose that “strong horse” politics was, is, and will be, a enduring principle in the Middle East … and widely supported by Arabs of every persuasion.

For Smith, Arab antagonism to Americans and Westerners is fundamental, being as they are neither Muslim nor, more importantly, Arab. The various Arab tribes and sects who feud endlessly amongst themselves do not permit any profound reconciliation with the Other, either across the religious and ethnic boundaries or within them. Muslim willingness to leverage Western allies against other Muslim powers is built right into Islamic history, as outlined with methodical effort in Efraim Karsh’s Islamic Imperialism: A History, reviewed earlier on chicagoboyz here.

The author’s conclusion after his travels and conversations over the last decade is that “overthrow, domination, and eventual collapse” is a political pattern long established amongst the Arab tribes, largely reinforced (not introduced) by Islam, recognized for over half a millennium by Arab historians, and it shows little or no sign of change in the 21st century. The strong horse is the model for successful political change in the region. It was not chosen as a metaphor by Osama Bin Laden on a whim. And it resonates deeply within Arab culture. It is the aspiration of all participants in the political process in the Middle East, in Smith’s belief … and any discussion of peace (as opposed to interim truce) is a form of cultural betrayal. And punished accordingly. Despite the fact that this cultural habit reiterates destructive cycles without end, it cannot be relinquished without giving up a fundamental cultural narrative. The toxic results are self-evident to modern Arabs but if Smith is to be believed, they are caught in a situation where all they can do is “double down” on the model of political change that has served them very poorly in the past. Struggling to cope with the impact of two centuries of Western technology and culture, the Arab hope is that an Arab Strong Horse will arise. The reality is that it is the United States, and inadvertently Israel, that have found themselves in the role of Strong Horse in the Middle East. The burden of the role is that all parties in the region look to gain favor and/or manipulate the destruction of their domestic and regional competitors by playing games with the Strong Horse. As Smith quotes in passing, Arabs are better at feuding than warring. At the point at which they are able to escalate conflict to war, inevitably it is their culture and self-regard that pays the price. What was true of Napoleon in Egypt is now true of America in the Middle East.

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Posted in Islam, Israel, Middle East, Terrorism, War and Peace | 3 Comments »

Now This is Art!

Posted by Shannon Love on March 18th, 2010 (All posts by Shannon Love)

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Funny Baby Photos - Anyone Got a Stepstool?
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I’ve been to more than my fair share of art galleries but I’ve never seen any artsy photo that has packed as much pathos as this one.

I mean, we’ve all been there, at least metaphorically and isn’t that what great art is all about?

 

Posted in Humor, Photos | 2 Comments »

Sleeping with the Enemy–Update

Posted by David Foster on March 18th, 2010 (All posts by David Foster)

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My post of a couple of weeks ago, Sleeping with the Enemy, (which expanded on an old novel by Arthur Koestler) has drawn some extensive and thoughtful remarks from Shrinkwrapped…definitely worth reading.

Also, it is possible to discern a slight relationship between the woman called “Jihad Jane,” an American accused of terrorist activities, and Koestler’s protagonist Hydie Anderson. But as I noted in the post

today’s Hydies are unlikely to share the educational and religious depth of the woman Koestler imagined

To put it mildly, judging from appearances in this case. Looks like I called that one right!

 

Posted in Anti-Americanism, Book Notes, Christianity, Civil Society, France, Philosophy, Political Philosophy | No Comments »

Powering Down

Posted by David Foster on March 17th, 2010 (All posts by David Foster)

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The California Water Resources Board has ruled that 19 natural gas power plants, located in coastal areas, are in violation of the Clean Water Act for using a technique called “once-through cooling.” According to this article, it appears that this ruling will result in the shutdown of most of these plants.

(Once-through cooling, which has been used since the days of James Watt, means simply that water is used to condense steam and is thence returned to the source from whence it came. The cooling water is not polluted, but is warmed up a bit. IIRC, the returned cooling water is somewhere in the range of 85-90 degrees F, i.e., less than the temperature of the typical hot tub.)

The state of California has taken other actions which make it difficult for the capacity of these 19 plants to be replaced. California has a moratorium on new nuclear power plants and coal plants. New natural gas plants, which are less polluting than coal plants (and emit less CO2, for those who care about this issue) are also banned in much of California.

A project to build large-scale solar plants in the Mojave Desert is encountering opposition from environmentalists who object to the construction of transmission lines to carry the power to San Diego. And California Senator Dianne Feinstein is apparently also opposed to this solar project on grounds that it threatens a species of turtle. There is also environmentalist objection to wind turbines because of the danger they pose to birds and bats.

If you live in California, expect your electricity bills to rise significantly. If you run an energy-intensive business located in that state, you probably need to think about alternative locations.

Although unfortunately, these California polities are merely the currently-most-extreme version of the policies that the Democratic Party, in its war on energy, wants to impose on the country as a whole.

The only possibility we as a nation have to overcome our very serious debt problems and to restore anything like full employment is to grow our way out of the problem. The Democrats’ war on energy is one of the primary threats to such growth.

 

Posted in Business, Economics & Finance, Energy & Power Generation, Politics | 39 Comments »

What Started the Fight in Finnegan’s Wake?

Posted by Shannon Love on March 17th, 2010 (All posts by Shannon Love)

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So, I’m listening to the Dropkick Murphy’s version of Finnegan’s Wake (best version ever) and it struck me that I really don’t understand what triggers the fight that spills the whiskey on Finnegan.

The relevant lines are:

His friends assembled at the wake
And Mrs. Finnegan called for lunch,
First they brought in tea and cake
Then pipes, tobacco and whiskey punch.
Biddy O’Brien began to cry
“Such a nice clean corpse, did you ever see?
“Arrah, Tim, mavourneen, why did you die?”
“Ah, shut your gob” said Paddy McGee!
Then Maggy O’Connor took up the job
“O Biddy,” says she, “You’re wrong, I’m sure”:
Biddy gave her a belt in the gob
And left her sprawlin’ on the floor.
And then the war did soon engage
‘Twas woman to woman and man to man,
Shillelagh law was all the rage
And the row and the ruction soon began.

Is Biddy O’Brien saying that Finnegan doesn’t look dead and Paddy McGee takes offense at the raising of false hope? (Back in the day, it wasn’t always evident that people were dead. Typhoid in particular produced a paralysis that could be mistaken for death.)

Does Biddy O’Brien punch Maggy O’Connor just because O’Connor gainsaid her or is there some subtle insult implied?

I know we Irish are quick to fight but I think there is more to the story. Anybody know?

 

Posted in Arts & Letters | 8 Comments »

Thinking of Changing Jobs

Posted by James R. Rummel on March 17th, 2010 (All posts by James R. Rummel)

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Via Ace comes a totally bewildering news story from Great Britain. The official government policy concerning burglary has just been changed. Burglars are not to be jailed unless they cause harm to persons or property.

No matter how much they steal, no matter if it is irreplaceable family heirlooms, the criminal walks. They get “community punishment”, which I suppose is the same as “community service” is here in the United States.

And we know that the felons will show up to fulfill their obligation to society because they are such stand up guys. Hardly like criminals at all. Right?

My favorite part…

The recommendations to let burglars walk free come as, for the first time in several years, burglaries are increasing.”

So refusing to lock the burglars up where they can’t ply their vile trade will cause the number of break-ins to decline?

I keep rereading the news report, and I just can’t believe it. It slides off of my comprehension like claws on glass.

Is this some sort of April Fools joke done early?

In the spirit of full disclosure, there was a similar problem in the United States dating from the late 1980’s through the 1990’s. Space in our prisons was at a premium, the crowding so severe that courts were ordering a certain percentage to be released early to thin out the press.

Eventually the money was found and more prisons were built. And, please note, the felons got at least some jail time.

(Cross posted in a similar form over at Hell in a Handbasket.)

 

Posted in Britain, Crime and Punishment | 10 Comments »

Puffin Movies

Posted by Carl from Chicago on March 17th, 2010 (All posts by Carl from Chicago)

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I went on a trip to Machias Seal Island where there is an Atlantic Puffin colony off the coast of Maine and nearby Canada in 2007. I stayed at a Canadian island near New Brunswick called Grand Manan Island and took a charter boat from a guide to get to the puffin colony.

For an hour I was in a small blind bird watching. There was no light inside the blind so we could see out but (supposedly) the birds couldn’t see inside. However, I am sure that the Atlantic Puffins knew we were there because they kept walking right up to the rocks in front of the blind just a foot or two away and eyeballing us, which was great.
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Posted in Humor, Photos | 1 Comment »

“What people need to know is that Obama’s plan evades health care’s major problems and would worsen the budget outlook. It’s a big new spending program when government hasn’t paid for the spending programs it already has.”

Posted by onparkstreet on March 16th, 2010 (All posts by onparkstreet)

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- From this Robert J. Samuelson article in the Washington Post (via Instapundit).

Many CB readers likely have read the above article, which does a nice job challenging certain aspects of the intellectual and policy “group-think” at the heart of ObamaCare. But never fear – I’m sure the same political class that sends its children to private schools in D.C. will cheerfully take its place in line with the rest of us should the “reform” fail to live up to expectation.

Update: Ezra Klein interviews Rep. Paul Ryan.

 

Posted in Health Care | 9 Comments »

Mini-Book Review — Groopman — How Doctors Think

Posted by James McCormick on March 15th, 2010 (All posts by James McCormick)

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Groopman, Jerome, How Doctors Think, Houghton Mifflin, 2007.

This book is several years old but deals with timeless subject matter that might be of interest to cb readers. In the past decade or two, a major initiative called evidence-based medicine (EBM) has tried to improve how medical research is conducted and how it is used in everyday clinical practice. It’s the application of the scientific method (with all its strengths and weaknesses) to confirming how we know what we know about medical practice. Some examples of such efforts “organized improvement” were covered in a book I reviewed earlier on cb called Better: A Surgeon’s Notes on Performance by Atul Gawande. Like Dr. Gawande, Dr. Groopman writes extensively for the New Yorker. The resulting quality and clarity of his writing in How Doctors Think stands out. Either he or his editors are very good.

In How Doctors Think, the author looks at a very different avenue of medical improvement. Deductive, evidence-based, medicine necessarily involves many patients and the careful collection of information about how a treatment works for large numbers of people. This is the foundation for proving the efficacy of particular treatments for particular populations, and winnowing out cases where doctors are “fooling themselves” about their treatment. Not fooling ourselves, as physicist Richard Feynman once pointed out, is one of the great challenges of science. The folks doing EBM research always give themselves a good laugh by evaluating the mathematical and statistical skills of the average GP. Interpreting the scientific medical literature is a real skill. One that needs to be taught and reinforced. As a baseline, we can aspire for a medical profession that can dependably read, critique, and interpret its own research.

The inductive process of forming a diagnosis and executing treatment with a specific patient benefits mightily from the disciplined research of EBM, but it by no means replaces the services of skilled physicians. Checklists or AI applications in medicine can reduce egregious errors, but human judgment, matched with experience and rigorous thinking, are necessary components of health care. And that’s the focus of Groopman’s book.

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Posted in Book Notes, Health Care, Medicine, Science | 7 Comments »

Coming Into Focus

Posted by James R. Rummel on March 15th, 2010 (All posts by James R. Rummel)

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I posted an essay last month, discussing how the Obama administration took a stance concerning the Falkland Islands that was sure to annoy Great Britain.

The reason as I see it for this strange move, which is almost certainly going to very slightly erode the special relationship that the United States enjoys with the UK without gaining anything in return, is due to Obama’s overall foreign policy vision.

It would seem that he is pursuing a Jeffersonian strategy, where commitments beyond our borders are seen as messy and dangerous. An added bonus to divesting the US of allies is that military spending can be cut in favor of domestic budgets, as there will be few reasons to project power across the globe if we don’t have any friends.

Two items that Glenn linked to yesterday support my conclusions.

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Posted in Anglosphere, Britain, International Affairs, Israel, Military Affairs, Obama, Politics | 6 Comments »

Worthwhile Reading and Viewing

Posted by David Foster on March 14th, 2010 (All posts by David Foster)

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(Every week or so, I post a collection of interesting links at Photon Courier under the above heading. There’s so much interesting stuff this week I thought I’d post it here as well)

Erin O’Connor on California’s universities and their role in the state’s economic debacle.

Climategate: it was an academic disaster waiting to happen. Interesting and contrarian thoughts about the role of peer review.

Richard Fernandez wonders if World War III has already started…without many people even noticing. (via Isegoria)

Solar arbitrage in Germany. (via Maggie’s Farm) It’s hard to believe he will really get away with this, but still pretty funny. See also this related post from Evolving Excellence: Better Call the Waaaahmulance!

AnoukAnge writes about ambition. (One of the great literary works that deals with this subject is Goethe’s Faust…memo to self: a blog post on the treatment of ambition within Faust could be very interesting)

AnoukAnge also has a nice photographic essay on color…including the psychological connotations and cultural-symbolic meanings of various colors.

Speaking of color, this year’s winning images have been chosen for GE’s In Cell Analyzer photography contest. The In Cell system used used by scientists for better understanding disease processes and for drug development; as it happens, it also produces images which are appealing and even beautiful, in a psychedelic sort of way. There’s a nice video, with music, at the bottom of GE’s post about the contest.

One more photography-related link: British industry in the 1950s and 1960s. (via Brian Gongol)

 

Posted in Arts & Letters, Economics & Finance, Education, Environment, Science | 1 Comment »

American Archetypes: Power & Humility

Posted by Ginny on March 14th, 2010 (All posts by Ginny)

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I’ve always been a sucker for the great Jungian archetypes. When Jammie-Wearing-Fool pointed this out, the Times’ image reverberated. But not in a completely pleasant way. The Hitler meme may be tired, but my instinctive memory was of Triumph of the Will, which taught me how much images evoked even when they are countered by reason and knowledge.

A Reynolds’ reader points out the cross isn’t appropriate for the leader of the most powerful nation on earth; he’s more a Herod/Caeser/Pilate. And perhaps Lent isn’t a great time to blaspheme. But, then, does the Times even know the meaning that gives power to the symbols they manipulate? They swim through a world whose history is rich with such symbols, but they don’t understand the richness within an image. Of course, they do cherish that frisson of edgy sentiment. And they know enough to know that they lose power if the images are of chocolates and the Easter Bunny. (Unless, of course, like the New Yorker, they crucify the bunny.) The Times doesn’t seem campy – over-the-top, perhaps, but not ironic.

But I’m not so easily seduced – indeed, something else strikes me. This picture doesn’t have American heroism, doesn’t have the power of the great American archetypes. American history is of humility linked with grandeur: our presidents are large not because the White House is in their shadow, but rather because they are in its. Neither larger than the office nor wiser than the Constitution, their heroism comes because they reverence those ideas, losing their selves in them. Enlarged by the White House, they are well aware of the distinction between their private selves and the public office they hold but for a term or two.

Our presidents have needed a sureness of touch, a confidence that orders men into battle. But they also needed humility. George Washington handing over his sword, George Washington handing over his office – these are symbols of heroism. Many a man has been a general; few have had the self-respect, the pride in country and history (minimal as that history was for that early, role-defining president), the humility before not the founders but the founders’ ideas. Such humility gives backbone; it comes from a large, simple and even ego-less pride.

We haven’t been seeing much humility lately. But that is what moves us; it structures the archetypes Americans catch their breath over, indeed, the ones that mist our eyes.

 

Posted in Obama, Photos | 9 Comments »

Muse and the Concert Experience

Posted by Carl from Chicago on March 14th, 2010 (All posts by Carl from Chicago)

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Muse is a British band that is huge overseas but starting to get more of a following in the states. I recently saw them at the United Center (I saw them at Lollapalooza in the rain two years ago, a great show) and it was a very entertaining concert. Their set list from the show is here with links to the songs; someone updated this set list minutes after the show had ended.

I have seen a lot of concerts and the effects on the Muse show were top-rate. I have seen the band Tool which uses intense visuals & who put a lot of effort into their show and I did not see U2 but their last tour obviously looked state-of-the-art, as well.

Recently I saw a comedy special by Nick Swardson, who played “Terry” the roller-skating gay prostitute on the sadly canceled Reno 911! show. In this unlikeliest of places I heard something that made me think… the comedian was talking about how blase we are today, about the special effects for a movie like “Transformers”. He said that if people from the 1950’s saw that movie their heads would explode while today in the 21st century we just take it for granted.

As I watched the effects and sound on the Muse show I thought about how much the sound quality, visual effects and stage quality (the stage components rose and fell independently in synch with all the laser and light effects) and how they would just blow away anything from the 60’s – 80’s. If you brought in the top shows from those years the artists and fans would just stand there, mouth agape as they watched something like Muse, with their integrated lights / effects / and sounds.

As some people (generally baby boomers) talk about how rock music was better in different eras they obviously aren’t considering how much vastly improved the concert experience has been made by modern technology, when properly done. Not only are the visual effects better, but the performers have better microphones and monitors and supporting technicians on hand. The effects in those eras probably only were effective if you provided your own chemicals in the brain as enhancements.

Cross posted at LITGM

 

Posted in Chicagoania, Music | 10 Comments »

An odd and jittery performance on Charlie Rose

Posted by onparkstreet on March 12th, 2010 (All posts by onparkstreet)

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By the Speaker of the House of Representatives, that is. Did you see the interview with the good Speaker Pelosi? The normally placid environment (that solid wooden table!) is not so placid with said guest visiting. Petty to note, perhaps, but I felt as if I were watching a performance, and the performer was a nervous and jittery one.

Anyway, judge the quality of the interview for yourselves. Here are a few choice excerpts from the transcript at Real Clear Politics:

Pelosi: “People are more optimistic outside of Washington D.C. than they are inside of Washington. They want to — they want to be sure that we stick to our path which is to take us out of this economic challenge and not be afraid to do so” – What?

Pelosi: “When the president began and he said that he called for swift, bold action now. And the public responded to it in a very positive way. And he said in a very shall we say professorial way, but also inspirational way, we will harness the sun and the wind and the soil to fuel our cars and run our factories, and we’ll invest in science, have better healthcare innovation and schools for the 21st century.” – What?

Pelosi: “Universal healthcare. It’s a place where we are recognizing the damage to our planet by decision that said we have made that we need to reverse. It’s a place where we have to go — we had the industrial revolution, we have the technological revolution. Now we have to have a green revolution.” – What?

Pelosi: “I think there is a realization among all people that all the things we want to do, we need to think in public private — public, public, all different kinds of different combinations on how we get them done, so we can leverage our dollars in a safe way, but leverage our dollars so we get more than just the appropriate dollars.” – What does that even mean?

I could go on and on. What do you suppose she’s saying?

SUPER-DUPER MASSIVE AND IMPORTANT UPDATE: I screwed up – the link is to the 2010 Rose interview that I recently watched, while the excerpts are from the 2009 interview. I honestly did not pick up on that while reading the transcript, obviously. In my defense, here’s an excerpt from the correct transcript:

“It’s so historic. It’s so exhilarating to be part of
history that each one of us in the Congress is on the brink of making
history. This is Social Security, Medicare, health care for all Americans.
So it is its own — it has its own encouragement to it. ”

“It has its own encouragment to it.” Well, there you go. Make fun of me and my faulty memory, and her statement, in the comments. Or just me. Whatever.

 

Posted in Environment, Health Care, Human Behavior, Media | 20 Comments »

Subsidy Farming

Posted by Jonathan on March 11th, 2010 (All posts by Jonathan)

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This is the kind of thing that happens when governments distort market incentives.

The above-market prices, called feed-in tariffs because panel owners feed power into the grid at premium prices guaranteed for decades, are high enough in Italy to generate average revenue of 35 euros ($48) a day for a 100-square-meter (1,076-square-foot) roof, according to Bloomberg calculations.
 
“The feed-in tariff drives our business plan and profitability,” said de Vergnies, whose plans include two photovoltaic plants in southern Italy that will generate enough electricity for 25,000 homes.

The gist:

The solar industry is “built on subsidies,” said James Britland, an alternative energy analyst at Allianz RCM in London. “This is a non-competitive industry that has to be subsidized.”

The investment capital that’s diverted by taxes into subsidies for politically-correct tech fads, and by investors themselves in response to the distorted incentives created by such subsidies, is capital that doesn’t get invested in productive ventures in biotech, medical devices, etc., etc. Keep this fact in mind the next time you or someone you know needs advanced medical treatment. Those chemotherapy agents and other wonder drugs don’t invent themselves. Fewer of them get invented to the extent we allow our reckless political class to divert precious capital to unproductive solar-energy schemes and other financial sinkholes.

 

Posted in Economics & Finance, Energy & Power Generation, Markets and Trading, Politics | 8 Comments »