Monday, April 29, 2019

Warren's Threat

The British are responsible for more Independence Days than any other nation on earth.--Chris McCague

Pirates start three guys hitting below .200, two in the top five.
Fun dinner at Mineo's with Chris.
GoT: Exhausting. And avoiding spoilers for both GoT and Endgame....

Europe’s center-left parties, faced with falling support, are shifting left to win back working-class voters lost to hard-left and populist movements—a move that paid off in Spain’s national elections, where the Socialists trounced their conservative rivals.(wsj)


”Avengers: Endgame,” from Disney’s  Marvel Studios, crushed box-office records in its opening weekend, with an estimated $350 million in domestic ticket sales and $1.2 billion globally.



An Oxford University professor has claimed aliens are already breeding with humans to create a new hybrid species that will save the planet. Dr Young-hae Chi, an instructor in Korean at the Oxford’s Oriental Institute division of the prestigious university, thinks this new species will save Earth from annihilation from climate change. He's written a book. Settled science marches on.

France is beginning to show the strains of the government as moralistic middleman. In France, VAT and other consumption taxes make up 24% of revenue… Consumption taxes often fall hardest on the poor and middle class, who devote a greater proportion of their income to consumption. These taxes have been the center of a lot of social disruption.
The French government spent two months eliciting voter feedback. …Prime Minister Edouard Philippe said…“The clear message is that taxes must fall and fall fast.” …Macron announced the “Great Debate” in December to respond to the Yellow Vest protests… Among the findings, valued added tax and income tax were the levies that most people listed as needing reduction. …For 75 percent of the participants, the lower taxes must be accompanied by cutting government spending, though they were vague about where the cuts should come, with 75 percent citing “the lifestyle of the state.”
While it is likely that the welfare state and its hallucination of cost-less benefits is more ingrained than the French are willing to admit, it is interesting they are willing to blame the system at all.


Has the percentage of the world population that lives in extreme poverty almost doubled, almost halved or stayed the same over the past 20 years? When the Swedish statistician and public health expert Hans Rosling began asking people that question in 2013, he was astounded by their responses. Only 5% of 1,005 Americans got the right answer: Extreme poverty has been cut almost in half. A chimpanzee would do much better, he pointed out mischievously, by picking an answer at random. So people are worse than ignorant: They believe they know many dire things about the world that are, in fact, untrue.

Libertarianism is the widely reviled idea that we should use reason and persuasion to accomplish our distributive aims. Only reason and persuasion. According to the libertarian, it is wrong to utilize threats of violence in the form of state-sponsored coercion, however sublimated by bureaucratic routine, in order to redistribute property that we have an antecedent claim to. Aiding the worse off or promoting economic equality may be worthy aims, but these are endeavors we should persuade our fellow citizens to join, not mandates to be enforced by the state. Promoting these goals at the end of a pitchfork, whether ours or our representatives’, is a moral mistake according to the libertarian.--Moller
Defaulting to coercion implies only lack of confidence in the public's ability and willingness to do the right thing. The obverse is, if people are unwilling to do the right thing, why do some deserve help? And will the helpers do the right thing?

The theoretical market for DraftKings and FanDuel is huge. Americans gamble more than $150 billion illegally on sports in a year, according to estimates from the American Gaming Association. About another $5 billion comes in legally.

Until 2004 Britain was a net energy exporter. Today, it imports about half its energy. Some of that, in the form of coal and liquefied natural gas, comes directly from Russia, which also supplies a third of Europe’s gas through pipelines. 
Never badmouth your debtholder.

From Don: This March, an outspoken critic of Islam, Jaleh Tavakoli, Danish-Iranian blogger and author of the book, Public Secrets of Islam, was threatened by the Social Supervisory Authority (Socialtilsyn Øst) that her foster-daughter would be removed from her care after Tavakoli shared an online video of the rape and murder by Islamic State terrorists in Morocco of two Scandinavian young women. She was informed in a letter that the government agency's approval of her husband and her as foster parents -- they had been raising the 8-year-old since she was a newborn baby -- had been rescinded and that the girl might be taken away from them, as the authority did not consider them to "have the necessary quality to have children in your care."

On this day in 1429, the 17-year-old French peasant Joan of Arc led a French force in relieving the city of Orleans, besieged by the English since October. this was an incident in The Hundred Year War; yes, 100 years of war, four generations. And the Europeans are always curious about why the Americans are so hesitant about joining a noble European fray.

                                                 Warren's Threat
Presidential aspirant Elizabeth Warren has threatened to ban all fossil fuel extraction on federal lands and in coastal waters. This despite the following information:
The Energy Information Administration expects demand will increase 6.3% through 2050. Wind and solar energy are projected to meet an increasing share of energy demand, but hydrocarbons are still expected to provide 79% of America’s energy needs in 2050.
In 2000, shale gas amounted to only 2% of United States production. Today it is 60% and rising.
Petroleum imports, which have fallen from 60% of total consumption in 2005 to just 11% today.
Solar and wind energy  make up only 8.5% of electric generation.
Oil and gas production on federal lands and in offshore areas provide about one quarter of total U.S. oil production and make up 13% of natural gas production.

At any other time in history Warren's kind of policy would probably considered treasonous, the plot of an enemy. Yet anti-carbon stumbles on. In Pennsylvania, there is a plan to use cap-and-trade to phase out all fossil fuel by 2050. All. Look at the estimates of fossil fuel needs above and guess what will happen. Sort of trying to turn the state of Pennsylvania into Rwanda.

"Under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket, regardless of what I say about whether coal is good or bad, because I'm capping greenhouse gases," Obama said. "Coal power plants, natural gas, whatever the industry was, they would have to retrofit their operations. That will cost money. They will pass that money onto consumers." 

This quote is of significance for Pa., the Yellow Vests, and anyone else who thinks that adding the meddling hand of government into daily transactions adds efficiency or morality.

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