Saturday, August 4, 2012

Cab Thoughts 8/4/12

 So China and Iran do not like Romney. Then....

She didn't build that. The more you think about it, the more reasonable it is that Jordyn Wieber will not be in the Olympic Individual Gymnast finals. Most of her accomplishments are circumstantial. If I had worked as hard, deprived myself as much, devoted all of my life--and, had been a young woman--I could have been in the finals. So, taking all those circumstances into account, Wieber's national championships and world championships are almost random.
In fact, using that logic, it is shamefully discriminatory to have any qualifications at all.

The jobless rate in Spain rose to 24.6 percent from 24.4 percent in the first quarter. It is at its highest since the records were first collected in 1976.

We should delve into the disparities between the philosophies of Chic-fil-A and Chicago more deeply. There is probably a lot to learn here. A Chic-fil-A/Chicago dialectic. Imagine where it leads. One begins to understand the basis of reality shows when one listens to what these morons say. And so sanctimonious.

Boston Mayor Menino is furious at the president of Chic-fil-A for his personal position of favoring traditional marriage. But mindless pandering comes at a price, often consistency. The good mayor gave $1.8 million of municipal land to the new mosque of the Islamic Society of Boston, whose IRS returns listed as one of their seven trustees Yusuf al-Qaradawi who spoke to al-Jazeera about homosexuality: "Some say we should throw them from a high place, some say we should burn them, and so on. There is disagreement ... The important thing is to treat this act as a crime."

It is nice to know there is internal debate in Islam, like how exactly to kill people.

Golden Oldie: http://steeleydock.blogspot.com/2010/12/angels-and-pinheads.html

A few nuggets from a new book by David Wessel called "Red Ink..." via the WSJ:
63% of government spending is automatic. Congress can decrease it if it intervenes but, if they do not, it is spent.
In 2011, 20% of the budget went to Defense. The U.S. spends more money on defense than the combined military budgets of the next 17 largest defense spender nations.
25% of federal spending goes to health care. If current policy continues unchanged, in 2021 health care will consume 33% of the budget.
Firing every federal employee would not decrease the deficit by 50%.
46% of American households did not pay income tax in 2011.
In 2011, the government borrowed 36% of the money it spent but had little trouble raising it.

This is a very surprising analysis by Lacy Hunt via Mauldin. Not many people are saying this:
“The Panic of 2008” falls on the Federal Reserve, for making money and credit too easily available, and then “[failing] to use regulatory powers to check the unsound lending and the concomitant buildup of non-productive debt.” (Everybody IS saying that.) And inflation?  “The average low in interest rates in these cases occurred almost fourteen years after their respective panic years with an average of 2% … Amazingly, twenty years after each of these panic years, long-term yields were still very depressed, with the average yield of just 2.5%. Thus, all these episodes, including Japan’s, produced highly similar and long lasting interest rate patterns… The relevant point to take from this analysis is that U.S. economic conditions beginning in 2008 were caused by the same conditions that existed in these above mentioned panic years. Therefore, history suggests that over-indebtedness and its resultant slowing of economic activity supports the proposition that a prolonged move to very depressed levels of long-term government yields is probable.”
Thus, he says, no inflation spike.

In the U.S. proved gas reserves in 2010 were up 50% compared to the 2005 number. Or the 1980 number.  The U.S. proved gas reserves are 50% higher in 2010 than 30 years ago, despite our use of natural gas over that time. We are finding gas in excess of our use. Sounds like something to take advantage of.

A woman from Saudi Arabia, Wojdan Shaherkani, entered the Olympic judo competition this week. Her opponent was Melissa Mojica, one of the world's top judoka in the heavyweight category. Shaherkani had never participated in an international judo bout before. Ever. She was invited to the Olympics in a symbolic attempt to strike a blow for women's rights in Saudi Arabia. She was the first woman to participate for Saudi Arabia in history.
She lasted 82 seconds but, on the brighter side, she was not hurt. But it was interesting to see the Olympics in a nonathletic light. Here was a woman in competition who had no reason to be there. And Jordyn Wieber was not in the individual gymnastic competition in spite of having every reason to be there.
And so we distort and compromise the nature of things to accommodate our desires.

AAAANNNNNDDDD a graph:

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