Archive for 2011

DON’T KNOW MUCH ABOUT THE CONSTITUTION: Ezra Klein. “As Klein has astutely observed, the Constitution is all confusing and stuff because it was written like 100 years ago.” One can only imagine Klein’s snark if Sarah Palin had made the same error.

WASHINGTON EXAMINER: Occupy Wall Street is more of the Left’s familiar flapdoodle.

The charter is chock-full of the same familiar leftist nostrums seen in Great Depression-era editions of the Communist Party USA’s Daily Worker and on countless protest signs during Students for a Democratic Society-led campus demonstrations in the 1960s. Today, the rants about “American colonialism,” “militarism,” “people over profit,” “living wages” and “economic democracy” are projected against a background of assumptions concerning “the 1 percent versus the 99 percent.” No doubt, Marx and Lenin would be astounded that, amid the most prosperous and free society in the history of mankind, so many useful idiots could be convinced to protest against the very individual freedom and economic liberty that made it all possible.

Actually, though, there’s an opportunity for the Republicans to seize control of the narrative by attacking Goldman, Sachs and highlighting its connections to the Administration. Go after the crony capitalism, guys. There’s lots of it out there.

UPDATE: Michael Lotus agrees on the crony capitalism:

Right on

Too bad the GOP is afraid to touch this

Only Sarah Palin was willing to do it

That really needs to change

Keep pounding that drum, sir!

I watched Kudlow last night and I was disappointed to see him and James Pethokoukis jumping all over a Tea Party guest who was complaining about crony capitalism. They’re smarter than that.

UTICA SHALE: Another energy game-changer? “The rock layer that extends from Quebec to Kentucky with major concentrations in Ohio, Pennsylvania and West Virginia has been called the next big play for shale gas; attracted billions of dollars in land investment, and been hailed by Chesapeake Energy chief Aubrey McClendon as ‘one of the biggest discoveries in US history.’ . . . According to an estimate from Ohio state geologists, that state’s portion of the Utica alone could contain up to 15 trillion cubic feet of natural gas, which would make it a significant contributor to national supplies of the fuel that will help cut greenhouse gas emissions and create thousands of jobs. But the Utica is distinguished by also harboring natural gas liquids and large quantities of oil which have sparked a rush by energy companies to acquire leases on millions of acres of land, especially in eastern Ohio.”

Reader Brad Fribley writes: “How much do you want to bet the Obama administration tries to shut it down?”

CULTURE OF CORRUPTION: Pelosi’s disclosure belated in husband’s land deal. “House Minority Leader Nancy Pelosi’s husband, a real estate developer and investment banker, stands to make millions of dollars in a previously undisclosed residential real estate project in California as a partner with the father of a woman Mrs. Pelosi helped become ambassador to Hungary, records show. . . . Despite his involvement in the project dating back to the late 1990s, Mrs. Pelosi first listed the investment in May 2010.”

TOTALITARIANS IN AUSTRALIA: Not grasping the English-speaking world’s tradition of press freedom.

REPORT: Torture going on in Afghanistan. “The 74-page U.N. report paints a picture of an Afghan detention system routinely and severely abusing its inmates, most of them suspected militants caught at the height of the Obama administration’s surge in Afghanistan. U.S. troops detain thousands of suspected insurgents each year and regularly pass them off to Afghan authorities.” Don’t be silly. We have a Democratic President now. That sort of thing only happens under Republicans.

DEMOCRATS’ STIMULUS APPROACH: More regulations!

Yeah, that’ll give things a boost.

CHANGE: Greek Debt Haircut Seen Exceeding 60%. “Greece’s bondholders may have to settle for a cut of more than 60 percent in what Athens owes them, the head of the eurozone’s finance ministers has said, the first open admission that such a drastic move is being considered.”

NOBEL PRIZE NEWS: Sargent’s Sharp Pencil. “Today, The Royal Swedish Academy of Sciences announced that it had awarded this year’s Nobel Prize in Economic Sciences to Prof. Tom Sargent (along with Prof. Chris Sims). Prof. Sargent is not only a high priest of economic theory — the rational expectations variety — but also one of the last in a dying breed of economists who can read a balance sheet and wield a sharp pencil.” Not much chance he’ll get a NYT columnist gig, then. . . .