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Archive for the ‘Gelt’ Category

Now that’s a contract I’d like to draft

Posted by Ron Coleman on December 15, 2008

Hitting the wall.

Hitting the wall.

On an hourly basis, that is.  Jimmie does the heavy lifting:

No wonder our car makers can’t get their heads above water. They have a legal document, just for dealing with employees, that weighs 22 pounds and is nine inches thick. Have you read anything that was nine inches tall? I’ll help you out. This hardback copy of War and Peace is only 2.7 inches thick.

How on earth can we justify keeping this going?

Posted in Gelt, Sisyphus | Leave a Comment »

…. and I can barely afford it.

Posted by Ron Coleman on December 15, 2008

Um, by the way, why do you supposed there are so many hungry people in New Jersey that we’re all going to help?

Could it have to do with … this?  Hat tip to Inv. A. Desoda (via Dean’s World).

Posted in Gelt, Sisyphus | Leave a Comment »

East of eatin’

Posted by Ron Coleman on December 12, 2008

Bloggers for Bounty

Bloggers for Bounty

It would be best if New Jersey, where I live, had taxation, social and economic policies that encouraged economic growth instead of discouraging it, but it doesn’t.  And it is ironic that those most vulnerable to bad economic policy routinely vote into office the people most responsible for the policies that contribute to their misery time and time again.  That doesn’t mean, however, that if people, our neighbors, are going hungry in what is still an environment of historically, and absolutely, phenomenal bounty, we should as humans and citizens stand by and watch.

New Jersey is called the Garden State because it once had a lot farms, of course.  Recent estimates are that it still has 4.7 times more agriculture than you think.  And please do not confuse me with the facts on this point!  Not surprisingly, however, there are a lot of people in my home state who don’t have enough to eat.

A quarter of a million people in New Jersey depend on the generosity of their fellow citizens to meet their dietary needs.  The Community Food Bank of New Jersey reports that requests for food have gone up 30 percent, but donations are down by 25 percent.   Its warehouse shelves, typically stocked with food, are bare, and for the first time in its 25-year history, the Food Bank is developing a rationing mechanism.

For that reason I’m participating in this campaign among bloggers in my state to encourage support of New Jersey food banks, sponsored by the Community Food Bank of New Jersey.  It’s a non-partisan effort. This  Monday, December 15, we’re trying to get 100 New Jersey-based bloggers to post in support of the Food Bank.  This has been coordinated by Deb Smith of Jersey Bites, and she, incidentally, is still looking for participant bloggers.

With the number of families across the country counting on churches and food banks to feed their families increasing at astronomical rates this year, the Food Bank needs our help now more than ever. So, help.

Posted in Gelt, Heart and spirit, Social networking, Suburbia | 1 Comment »

Class war in Illinois

Posted by Ron Coleman on December 6, 2008

It’s a brave new world, and their favorite son is not even in office yet:

Which side are you on?

Which side are you on?

Workers who got three days’ notice that their factory was shutting its doors have occupied the building and say they won’t go home without assurances they’ll get severance and vacation pay.

About 250 union workers occupied the Republic Windows and Doors plant in shifts Saturday while union leaders outside criticized a Wall Street bailout they say is leaving laborers behind. . . .

“We’re doing something we haven’t done since the 1930s, so we’re trying to make it work,” she said, referring to a tactic most famously used in 1936-37 by General Motors factory workers in Flint, Mich., to help unionize the U.S. auto industry.

Of course in ’36-’37, the country was actually beginning to recover from the double whammy of the Depression and the New Deal policies that deepened it.  The unionization of the auto industry probably didn’t help much, but with war in Europe brewing orders were picking up.  A year or two later, and the real shooting under way, factory orders were up enough that unionization seemed to work wonders for the economy!

Here in 2008, however, we’re almost certainly not at bottom yet, by a long shot, and no obvious new war is on the horizon, so the timing for union-orchestrated violence — and that is what this is — would appear less than brilliant.

So what is the thinking in the People’s Republic of Illinois?  Is organized labor so close to back in the driver’s seat, and the Big Three bailout so close to fruition after all, that a fantasy-based-union-bounty-based economy is upon us?   Is it that the era of President-Elect Obama means that Chicago is totally up for leftist power grabs?  A little of both?  Or was I wrong about the whole “here comes socialism” piece altogether, in a way that — let’s face it — none of us had guessed?

Posted in Gelt, Oppression, Past is prologue, Politics and Poker, Stragety | 12 Comments »

Remember the price signals thingy?

Posted by Ron Coleman on December 4, 2008

I do! I was reminded by this post over at Rick Moore’s:

Back when the economic crisis first hit at the end of September, Donald Trump predicted that oil could fall to $20 a barrel. Gulf Oil thinks that’s where it’s headed:

RANDOLPH — Gulf Oil CEO Joe Petrowski said on Wednesday that the price of oil could sink to $20 per barrel, and there is a chance gasoline prices could drop as low as $1 per gallon by early next year. . .

Ah, yep.  Sounds really familiar to me, theme-wise.  Because here’s what I said in October in response to a surprising policy prescription urged by Glorious Leader:

You thought Instapundit was a libertarian? So did I! At least on economics issues. But check this:

BOB ZUBRIN: Obama’s Energy Plan a Mix of Bad and Good. “Moreover, there is one part of the Obama plan which is absolutely splendid, and that is his explicit promise to require flex fuel capability on all new cars sold in the USA by the end of his first term. This is indeed a potential real game changer, especially if the flex fuel standard is written to include not only automobile compatibility with gasoline and ethanol, but methanol as well.” You can make methanol from kudzu. ‘Nuff said.

Well, not ’nuff for me. What happened to the free market? Is it inconceivable that oil could be $40 a barrel at the end of Obama’s first term — and cars will either be X dollars more expensive because of this requirement, or perhaps won’t work right, or… whatever?

Whatever, indeed. We see how easy it is to fix massive policy problems merely by legislating a solution, right?

Right.  Did I say “by the end of Obama’s first term”?

Posted in Futurama, Gelt, Stragety | 2 Comments »

Depressed? Maybe. Depression? Not close.

Posted by Ron Coleman on November 23, 2008

Daniel Gross in Slate:

All this historically inaccurate nostalgia can occasionally make you want to clock somebody with one of the three volumes of Arthur M. Schlesinger Jr.’s history of the New Deal. The credit debacle of 2008 and the Great Depression may have similar origins: Both got going when financial crisis led to a reduction in consumer demand. But the two phenomena differ substantially. Instead of workers with 5 o’clock shadows asking, “Brother, can you spare a dime?” we have clean-shaven financial-services executives asking congressmen if they can spare $100 billion. More substantively, the economic trauma the nation suffered in the 1930s makes today’s woes look like a flesh wound. . . .

So what’s with all the speakeasy-era speak? Financial executives invoke distant history in part to make up for their own recent shortcomings. If a force as powerful as the Great Depression has been unleashed on the global economy, how can a mere mortal like Merrill’s John Thain be held responsible? The specter of the 1930s has also been deployed by political leaders to create a sense of urgency.

Gross could have said a lot more, but the article is a good starting point.  Too bad he throws away the historical accuracy — or, perhaps, relies too much on Schlesinger — with this whopper:

A final difference: After the 1929 crash, the nation had to wait more than three years for a president who simply wasn’t up to the job to leave the scene. This time, we’ve got to wait only two more months.

Ha, ha, ha.  Forget the slam at George Bush, utterly backed up with argumentation or proof, or the premise that the “president who is up to the job” is the utterly unproved Barack Obama.  It’s Slate, so these “facts” are simply presumed accepted by readers.  But it’s the facile take on Herbert Hoover that’s ignorant.  Clearly the worst thing Hoover did in connection with the Depression was done well before the Depression, though it probably either caused it or made its depth inevitable:  Signing the overwhelmingly popular Smoot-Hawley Tariff Act.  But the main thing FDR did when he got in office was basically more of everything Hoover was doing — much of which was wrong, but virtually all of which was made legendary when effectuated with the increased political support in the hands of Roosevelt.

So maybe the parallel isn’t so inapt.

Posted in Gelt, Medialites, Politics and Poker | Leave a Comment »

Existential angst for big law firms?

Posted by Ron Coleman on November 20, 2008

Or just some bad lobster?  Bruce McEwen asks, apropos “BigLaw” — the major law firms whose profitability and hourly rates seem always to be immune from economic reality:

If the US Treasury is a major stockholder in major financial institutions, how will that change the dynamic of how premium-level legal services are bought and sold? Not to be facetious about it, but how would you feel to be called before Barney Frank to justify your $950/hour rates?

Not facetious at all.

Posted in Gelt, Lex scripta, Metropolis | Leave a Comment »

Halloween’s over!

Posted by Ron Coleman on November 19, 2008

Instapundit:

TO SAVE THE AMERICAN AUTO INDUSTRY, let Detroit go bankrupt.

Meanwhile, Katie Granju thinks that such talk is union-busting in disguise.

In disguise?

We don’t need no stinkin’ disguises!!

Posted in Gelt, Oppression, Stragety | Leave a Comment »

Martin Luther King, the Brand

Posted by Ron Coleman on November 14, 2008

Did you know that Martin Luther King is “a brand” now?

Posted in Americana, Gelt, Heart and spirit | Leave a Comment »

Princeton’s selective progressivism

Posted by Ron Coleman on November 12, 2008

Princeton University announced last month that Shirley M. Tilghman, the University’s president, will serve as “one of the founding trustees for King Abdullah University of Science and Technology, a new international, coeducational, graduate-level research university that is being created near Saudi Arabia’s second largest city, Jeddah.”

Isn’t that an odd choice for a high commissar in the higher education nomenklatura ?  We’re talking about the Shirley Tilghman described thus by Steven M. Warshawsky:

In Tilghman, the student radicals of the 1960s finally have succeeded in occupying the university president’s chair, not just his office.  Since becoming Princeton’s president in June 2001, Tilghman (who graduated from college in 1968) has pursued an activist feminist agenda to remake Princeton into a liberal paradise that even Kim Gandy would love.  Today, despite its long-outdated reputation as a ‘conservative’ Ivy League college (F. Scott Fitzgerald famously described Princeton as ‘the pleasantest country club in America’), Princeton is rife with political correctness, multiculturalism, and liberal groupthink.

Warshawsky, who graduated Princeton ten years later than I did, may perhaps lack the long view — the school was more or less what he described in the early ’80’s, in fact, when a fairly conservative president, economist William G. Bowen, presided over Nassau Hall.  Tilghman’s achievements are not so much in her politics, which are standard fare among college presidents, deans, administrators and the trustees who perpetuate this professional class of college royalty.  It is the manner in which she, the first non-alumnus president in the school’s recent history, has consolidated the management of everything Princeton, including the flow of information through organs once semi – independent (such as the Princeton Alumni Weekly), into the politically correct hands of the administration.  This aggregation and centralization of Princeton’s tax-exempt corporate empire is worthy of the best Soviet ministry builders… gloved in velvet, of course.

Princeton's Alexander Hall

Princeton's Alexander Hall

Still, his description is entirely correct:  As reminded on at least every third page of the Weekly, which essentially serves as a publicity vehicle for President Tilghman and features her face, her quotes or both on at least every fourth page, she is indeed entirely politically reliable, as is virtually all of her faculty.  So what could possibly make such a progressive and visionary woman agree to become a trustee for a Saudi college?  Engagement from the inside, that’s what!

“I have been very selective in taking on outside responsibilities, and I deliberated carefully before accepting this commitment,” Tilghman said. “Having devoted so much of my career to expanding educational opportunities for women, especially in the sciences and engineering, I decided that I should join with the other members of this board in encouraging the development of such opportunities in a region of the world where historically they have not been available.

“It was critically important to me that KAUST is committed to providing a Western-style education, to attracting students and faculty from around the world and from all ethnic and religious backgrounds, and to educating men and women from different religious traditions together,” she said. “In my view, these are important steps for Saudi Arabia, and as a trustee I will be carefully monitoring the university’s success in achieving these objectives.”

Well, that will be interesting.  I wonder which religious traditions are going to be allowed to drink the waters of scholarship in the deserts of Arabia at Jeddah?  As the writer of the Bedu Blog explains:

I have had queries from some readers wanting to know that since there are not cordial diplomatic relations between Saudi Arabia and Israel, whether those who practice the Jewish faith are in fact allowed into the Kingdom. I will share based on what I personally know. To begin with, when one completes a visa application to come to the Kingdom, one must designate (among other things) nationality, place of birth and religion. You may ask, why does one have to identify their religion on a visa application? This is due to the fact that only muslims are allowed into the holy cities of Makkah and Medina so as a result, ones visa (and subsequent iqama if applicable) will indicate whether one is a muslim or non-muslim.

In general, if one cites Jewish as their religion but not born in Israel or from Israel, then it is likely the visa will be granted. However the odds of a visa being denied increase if one was born in Israel. I am personally not aware of anyone who is a Jew and from Israel being granted a visa to enter the Kingdom.

Sounds fair, right?  After all, who are we to judge?  Sure, during my time on campus, we learned that the only possible strategy for dealing with the apartheid regime of South Africa was condemnation, divestment, disengagement and boycott.  But it’s different with Saudi Arabia, because.

And, the current dip in oil prices notwithstanding, I am every bit as sure that Dr. Tilghman’s view of the matter is not colored by the precipitous fall in the value of Princeton’s endowment, which the PAW describes as a “double digit drop” but this article estimates is more likely “down 25% or more since June 30 if they were to assign realistic values to their illiquid investments.”  Certainly the prospect of a gooey flow of black gold into those orange and black coffers for a change could not have anything to do with that liquidity crisis.

I suppose Saudi Arabia’s religious Jim Crow laws will not be a problem as long as the Muslim-only “holy cities of Makkah and Medina” aren’t the site of the next meeting of trustees of King Abdullah University of Science and Technology, or none of the diverse members of the student body needs, I don’t know, a book from a library there — oh, never mind.

UPDATE:  Nice point from Soccer Dad:  Remember when Yale turned down a $20 million endowment because the donor wanted it to fund study of Western Civilization? The New York Times praised Yale at the time, “No self-respecting educational institution can allow an outsider — no matter how well-meaning or generous — to dictate its education priorities.” I wonder how they feel about a prestigious college – in this case Princeton – ceding its control, not to a generous donor but to a government that seeks to stifle free inquiry? My guess is that if the Times editorializes, it will ignore the restrictions the partnership with Saudi Arabia will impose on Princeton and praise the university for being open to new ways of thinking.

Posted in Gelt, Oppression | 8 Comments »