Archive for 2011

GOVERNMENT MOTORS: “A hybrid electric Chevrolet Volt believed to have sparked an overnight blaze in a garage in Barkhamsted last week, reignited again on Monday.”

UPDATE: Reader Kevin Murphy writes: “What the story omits is that they were also charging an after-market electric car at the same time. Three things to blame, and the least likely one is the Volt.” Well, stay tuned — and try to show Chevy more forbearance than the state-controlled media gave Toyota, I guess.

ETHANOL IMPACT: U.S. Corn Reserves Hit 15-Year Low. “Rising demand for corn from ethanol producers is pushing U.S. reserves to the lowest point in 15 years, a trend that could lead to higher grain and food prices this year.”

STANDARD & POOR’S TREASURY DOWNGRADE: The rating agencies are always the last to know. “As in the case of Enron, the smart money gets gone long before credit downgrades start hitting the headlines. As noted in this column, PIMCO, the world’s largest bond fund, got clear of U.S. Treasuries some time ago, following the lead of a number of hedge funds. The oil-exporting countries are dumping U.S. debt, too. Perhaps they know something we don’t?”

UPDATE: Inflation-adjusted federal spending per capita. “A hundred years ago, federal spending for each person was the equivalent of $200 in today’s dollars. After FDR, with all of his massive public spending, it was $1,000. This year, it’s over $12,000. How long can this continue?” Not much longer. And if something can’t go on forever, it won’t.

RAND SIMBERG IS live-blogging a space-law conference. “I’m attending the fifth annual conference on space law hosted by the law school at the University of Nebraska, which has a program in space law, partially sponsored by USSTRATCOM (fifty miles up the road at Offut AFB in Omaha). The conference looks to be an interesting program, with a lot of international participation. The focus this year is on commercial space regulation.”

A NISSAN LEAF BUG: “Japanese automaker Nissan acknowledged that it would investigate complaints that some Leafs randomly don’t start, a problem caused by the vehicle’s air conditioning system. The issue was reported in both the U.S. and Japan.”

JUSTICE, TOO MUCH AND TOO EXPENSIVE: Joe Hoffman and Nancy King on Habeas Corpus. “Federal habeas review of noncapital state criminal cases is unnecessary, because state courts now do the vast majority of that work. Worse, the misuse of habeas as one more round of appeal in routine state criminal cases will eventually cheapen habeas’s currency. . . . The question is not how much review it might take to achieve perfect compliance with constitutional rules governing criminal cases, because that’s a goal we can’t reach. The question, instead, is how much review makes sense before it becomes a wasteful, possibly harmful, endeavor.”

IN RESPONSE TO MY HIGHER-EDUCATION BUBBLE POSTS, reader Edwin Leap sends this on the high cost of medical education. “The thing is, American health-care is expensive. But so is medical education. As we embark on this century, what are the odds that physicians with $240,000 loans for medical school will be able to offer inexpensive care? What are the odds they will enter low-paying specialties? They might be interested in charity care at first, but when the first loan payments come due all the good intentions in the world won’t change the fact that lenders want their money back.”