Cab Thoughts 4/7/12

When did the ingenious notion of equality of opportunity and equality before the law become the banal equality of income?

In 1970 the US produced 9.6 million barrels of oil per day. The country's production declined steadily from 1970 to 2008, when just 4.95 million barrels per day were produced. 38 years; an almost 50% decline in production of something crucial to us. But, because of the Bakkan and other unconventional sites, production has started to creep up.

The one-year survival rate for someone receiving a heart who is over 65 is 84%. Cheney is 71. The odds are favorable for him to have a life expectancy of 10 years.

A new Van Gogh is discovered under a painting hanging in a museum, a new sub species of Homo is discovered in a Chinese museum basement, a play by Eugene O'Neill was found at an estate sale, an early Mozart was found last year in an attic, ditto a copy of the "Confederacy of Dunces" manuscript. It seems to me the most rewarding research we could do is to review what we have.

Obama's open mic line to the Russians about having more flexibility after the election because it is his last one and presumably makes him less responsible to the American people is telling. The nature of the American constitution is quite different than most as it fears power primarily; its inefficiencies are beside the point. Here is a special case: The need for power to "do good' whether the people want it or not. There was a great editorial line from IBD: "It is sad and more than a bit alarming that the Russians know something more about Obama's second term than the American people he asks to re-elect him."

126 former football players are suing the NFL over head injuries. The question is not "Who is?" The question should be "Who isn't?" While this is like a rodeo bull-rider suing over orthopedic injuries, it could be seen as a legitimate point and, if it become clear that dementia is the logical result of the game, the game as it is known, will die. Similar arguments could be made for hockey. That would return baseball to its deserved place of honor as the American sport--in this instance its only sport. (Basketball not being a sport but more of an entertainment, like juggling sharp things.)

What's wrong with the idea of mic'ing every politician? Maybe ankle bracelets too.

The yield on 5-year Portuguese bonds is now up to an all-time record 19.8 percent. A year ago, the yield on those bonds was only about 6 percent. A year ago, the yield on 5-year Greek bonds was about 12 percent. Now the yield on those bonds is more than 50 percent. Anyone worried?