Archive for 2018

INFLATION IS ALWAYS AND EVERYWHERE A MONETARY PHENOMENON: Prof. Steve Hanke has a suggestion (probably behind a paywall) for how Erdogan can save the Turkish Lira – institute a currency board. I’m not holding my breath.

PROCUREMENT BLUES: Army’s XM25 program officially goes kaput.

The ill-fated weapon, known as the XM25 and nicknamed “The Punisher,” was once hailed as a game-changer for ground troops who would be able to use it to target enemies hiding behind cover. But it came under closer scrutiny several years ago after schedule slippage, cost overruns and aborted operational testing in Afghanistan.

In 2016, the Pentagon inspector general recommended that the Army consider ending the program and instead invest its nearly $1 billion in funding elsewhere. The program remained in limbo since early last year, when the Army canceled its contract with main contractor Orbital ATK Inc., but an Army official overseeing the effort could not clarify its overall status.

The shoulder-fired, semi-automatic weapon was designed to fire 25 mm high-explosive grenades that burst in mid-air over enemy troops taking cover behind walls or inside bunkers or trenches where they’re difficult to hit.

It’s a shame they couldn’t make the thing work.

RASMUSSEN: TSA Is On the Up-And-Up With Americans. “The Transportation Security Administration (TSA) now says that reports of possible cuts to screenings at smaller airports were merely part of a budget exercise to study cost-saving options.”

I’m not buying it.

THE KIDS AREN’T ALL RIGHT: Sean Malone of FEE looks at the conflict between what we know about motivation from neuroscience and what today’s trendy philosophies tell kids. As Shawn says,

I contend that a lot of these ideas ultimately serve to destabilize young people’s sense of their own individuality and wreck their ability to deal with reality in ways that are most likely to leave them depressed and despondent.

Sounds right to me.

ANALYSIS: Don’t expect Beijing’s South China Sea ‘breakthrough’ to weaken US ties with Asean nations. “While Chinese state media hailed a new code of a conduct in the disputed waters as a ‘rebuke for foreign meddling’, Southeast Asian states are likely to be keen to maintain long-standing ties to Washington.”

Indeed. China’s naked aggression in the region seems more likely to strengthen American ties to smaller nations in the region than anything else.