Blog Archives

Why China is in Trouble

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August 13, 2015
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NRO’s Kevin Williamson explains:

Money is lent on concessionary terms to make transactions happen for politically favored businesses and investors on the theory that the resulting economic activity will be worth the costs. And it’s fairly easy to get away with that arrangement, because the costs are disguised as profits: A loan made at a below-market rate is a wealth transfer, but in the government ledger it looks like income. Simple example: If the U.S. government were to lend me $1 billion for 20 years at 1 percent interest, I’d be a very, very happy man, and even if I earned only modest returns on that $1 billion, I’d have around $1 billion in my pocket after paying back the original loan. In effect, the government would have given me $1 billion, but on the books it would look like it had instead earned more than $100 million in 20 years. That’s because government is accounting only for the interest I paid, not the interest it could have earned if it had lent the money at the market rate.

I know myself well enough to predict that I’d do some jackass things with that $1 billion. And China has financed some jackass adventures, too. The ghost cities are the most famous, but Beijing has also underwritten the construction of a great many factories that don’t produce economically viable goods and has used cheap credit to prop up enterprises and industrial sectors that are not genuinely productive or competitive. The thinking here will be familiar to those of you who have followed the various stimulus-package debates in Washington over the years: Sure, that cheap money may be contributing to overbuilding, but it creates a lot of jobs in construction, and it jacks up demand throughout the economy by increasing the domestic appetite for steel, cement, construction supplies, machinery, etc. The guy at the cement factory gets a raise, his family gets more noodles or a new motorscooter, the multiplier effect kicks in and presto-change-o, you’ve made yourself wealthier by throwing money away. Which in fact works pretty well, until it doesn’t. Eventually the Chinese government, despite all its tanks and brutality and nuclear weapons and gulags, must bow before Stein’s Law: “If something cannot go on forever, it will stop.”

China’s current economic reversal is being driven in part by a slowdown in construction. As it turns out, if you build enough ghost cities full of empty apartment blocks, then the oversupply in the market eventually makes it unprofitable to build more empty apartment blocks. (Counterintuitive, right?) Students of Austrian economics will recognize this as the old problem of “malinvestment,” capital’s being misallocated because of subsidies and other distortions. Who’d they build those apartment towers for? Who cares? If there’s free money on the table, somebody is going to pick it up.

Is Hillary Clinton Above the Rule of Law?

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August 13, 2015
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Ultra-liberal pundit Glenn Greenwald makes the case against Hillary:

When it comes to low-level government employees with no power, the Obama administration has purposely prosecuted them as harshly as possible to the point of vindictiveness: It has notoriously prosecuted more individuals under the Espionage Act of 1917 for improperly handling classified information than all previous administrations combined.

[…]

In December 2011, Chelsea Manning’s court-martial was set to begin. None of the documents at issue in that prosecution was “top secret,” unlike the documents found on Hillary Clinton’s server. Nonetheless, the then-secretary of state convened a press conference to denounce Manning and defend the prosecution.

[…]

“I think that in an age where so much information is flying through cyberspace, we all have to be aware of the fact that some information which is sensitive, which does affect the security of individuals and relationships, deserves to be protected and we will continue to take necessary steps to do so,” Clinton said.

Manning was convicted and sentenced to 35 years in prison. At the time, the only thing Hillary Clinton had to say about that was to issue a sermon about how classified information “deserves to be protected and we will continue to take necessary steps to do so” because it “affect[s] the security of individuals and relationships.”

That was during the time that she had covertly installed a non-government server and was using it and a personal email account to receive classified and, apparently, even top-secret information.

Video: Investigative Journalist Persecuted by US Customs

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August 12, 2015
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Hillary Clinton can get away with a felony, but conservative journalists must be harassed.

How Hillary Clinton Turned America into a Third-World Nation

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August 12, 2015
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There are many differences between the First and Third Worlds – water, electricity, education, health… But the most fundamental one, at the root of all the other differences, is that First World Countries are ruled by their laws. No one, not even the most powerful person in the land, is above the law. For...

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ANTI-SEMITIC Democrats Deny Elderly Jewish Man Promotion

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August 8, 2015
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University of Ilinois Chancellor Resigns Because…

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August 8, 2015
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…university officials used personal e-mail to avoid FOIA requests.

If only one of them had been the presumptive Democrat presidential nominee, the Lying Liberal Media would have buried the scandal, and the resignation could have been avoided.

Most Popular Debate Evah

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August 7, 2015
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I didn’t watch last night’s rumble, but, apparently, a lot of people did:

Early overnight Nielsen ratings suggest that Thursday’s Republican debate was not just the most-watched primary debate in history — it may have been twice as big as the previous record-holder.

The debate on Fox News had a 16.0 household rating between 9 p.m. and 11 p.m., according to Nielsen.

Translation: 16% of United States homes with TV sets tuned in.

Fox News usually has 1% or 2% of the household audience.

For the sake of comparison, the highest-rated Republican primary debates in 2011 and 2012 were watched by approximately 5% of households.

The Democratic primary debates in 2008 were bigger, but none of those ever topped 10%.

Jon Stewart’s RACIST Audience Will Desert The Daily Show

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August 7, 2015
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When hyper-partisan ultra-liberal jerkwad Stephen Colbert ended The Colbert Report, his ultra-liberal-but-RACIST audience largely deserted the show that followed because it was hosted by a black man. Ratings dropped 40% in the first three months.

Now Jon Stewart’s show has ended, and he’s being replaced by a black man as well. If what happened with The Colbert Report is any kind of indicator, Stewart’s audience (like Stewart himself) is very RACIST, and will desert The Daily Show because it will be hosted by a black man.

Lying Liberal Professor Caught in Lie

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August 5, 2015
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After reading this story, a couple of questions came to mind:

1. Why is this “professor” teaching English? Her English is mediocre at best.

2. Why is an English professor teaching “about diversity and the negative impact of racial profiling”???

I hope she spends a good chunk of time in jail, and never gets a white-collar job again.

“3 Percent” – The Lying Liberal Media’s Latest Lie

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August 4, 2015
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They’re at it again:

Planned Parenthood, embroiled in a scandal over secret videos capturing its cavalier dismemberment of unborn babies and sale of their body parts, insists that abortion is only 3 percent of what it does.

[…]

The 3 percent figure is derived by counting abortion as just another service like much less consequential services. So abortion is considered a service no different than a pregnancy test (1.1 million), even though a box with two pregnancy tests can be procured from the local drugstore for less than $10. By Planned Parenthood’s math, a woman who gets an abortion but also a pregnancy test, an STD test, and some contraceptives has received four services, and only 25 percent of them are abortion. This is a little like performing an abortion and giving a woman an aspirin, and saying only half of what you do is abortion.

Such cracked reasoning could be used to obscure the purpose of any organization. The sponsors of the New York City Marathon could count each small cup of water they hand out (some 2 million cups, compared with 45,000 runners) and say they are mainly in the hydration business.

Cecil the Lion Had Blood on His Paws

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August 4, 2015
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Murderous and bloodthirsty:

“American, single-handedly, saves 600 African antelopes and 12 baby elephants — by killing a lion.” As you read the first part of the previous sentence, you most likely are thinking “this is a good guy.” But when you read the last part of the sentence — particularly if you are a cat lover — you may be thinking “this is a bad guy.”

Adult lions on average eat about 15 pounds of meat a day. In the wild, they feed primarily on medium-size animals, such as antelopes and occasional baby elephants. The late Cecil the lion, killed by the American dentist, was reported to be about 13 years old. Cecil probably killed and consumed roughly 70,000 pounds of meat during his life, which likely included many hundreds of antelopes and baby elephants.

When you see a wildlife movie where a lion is chasing an antelope, do you root for the lion or the antelope? Even if you are a cat lover, how many antelopes do you think should die to feed one lion?

Video: One Year Anniversary of Ferguson

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August 3, 2015
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On August 9th 2014, a thug named Michael Brown attempted to murder a police officer, and was shot. The Lying Liberal Media will spill endless ink about this on the 9th. But you can skip all that, since these two videos tell you everything you need to know:

Here’s Michael Brown robbing a store, which is why Officer Darren Wilson stopped him on the street.:

And here’s the same store and clerk, in the aftermath of the riots by “peaceful” “activists”:

Hey, Remember That Guy…

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August 2, 2015
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… Who raised the minimum salary at his company to $70K/year? The skies parted, angels sang, and Facebook pundits everywhere applauded. But now:

The Seattle CEO who reaped a publicity bonanza when he boosted the salaries of his employees to a minimum of $70,000 a year says he has fallen on hard times.

Dan Price, 31, tells the New York Times that things have gotten so bad he’s been forced to rent out his house.

Only three months ago Price was generating headlines—and accusations of being a socialist — when he announced the new salary minimum for all 120 employees at his Gravity Payments credit card processing firm. Price said he was doing it, and slashing his $1 million pay package to pay for it, to address the wealth gap.

“I’m working as hard as I ever worked to make it work,” he told the Times in a video that shows him sitting on a plastic bucket in the garage of his house. “I’m renting out my house right now to try and make ends meet myself.”

The Times article said Price’s decision ended up costing him a few customers and two of his “most valued” employees, who quit after newer employees ended up with bigger salary hikes than older ones.

“He gave raises to people who have the least skills and are the least equipped to do the job, and the ones who were taking on the most didn’t get much of a bump,” Gravity financial manager Maisey McMaster, 26, told the paper.

She said when she talked to Price about it, he treated her as if she was being selfish and only thinking about herself.

“That really hurt me,” she said. “I was talking about not only me, but about everyone in my position.”

Approaching burnout, she quit.

Cops More Likely to Kill Whites than Blacks

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July 28, 2015
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Do the math:

As of July 27, the Guardian claims, American police have killed 657 people in 2015. The large majority, 492, were armed. Some 316 victims were white, 172 black, and 96 Hispanic. (The rest were of other or unknown ethnicities.) Whites constitute a majority of the population, however, and police kill black Americans at a greater rate than whites — with 4.12 black victims per million versus 1.59 white victims per million.

So case closed, right? Not so fast. Comparing police shootings by race with crime statistics by race tells an entirely different story: It may in fact be the case that white Americans are ever-so-slightly more likely than blacks to die in any given encounter with a police officer. After all, blacks commit homicide at eight times the combined white/Hispanic rate, and, despite their constituting roughly 13 percent of the population, represent a majority of homicide and robbery arrests. Indeed, the disproportionate share of arrests exists across all categories of violent crime — at a rate that often exceeds the racial difference in police shootings. Thus, blacks are seriously overrepresented in the most dangerous police encounters of all — encounters with violent suspects.

Video: A Great Moment in Local News

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July 25, 2015
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Forget that Key & Peele video. This is the funniest thing I’ve seen all year.