Archive for 2022

GERMAN PRODUCER PRICES POST SURPRISE RECORD JUMP IN AUGUST:

German producer prices rose in August at their strongest rate since records began both in annual and monthly terms, driven mainly by soaring energy prices, raising the chances that headline inflation will surge even higher.

Producer prices of industrial products increased by 45.8% on the same month last year, the Federal Statistical Office reported on Tuesday. Compared to July 2022, prices rose 7.9%, it added.

You went full Weimar, man. Never go full Weimar.

LAWRENCE PERSON: China’s Chip Industry is Doomed. “Without a continued stream of machines, spare parts and technical know-how from those five semiconductor giants, China’s semiconductor industry is doomed. China’s domestic semiconductor equipment industry is essentially garbage, and they’re so far behind in so many areas that they can’t even steal their way to parity. The knowledge gulf is just too vast.”

Also: “Money seems to have a strong corruptive power over CCP officials that they can’t resist. Like China’s real estate industry, China’s semiconductor industry is also plagued with corruption, over-construction, and highly leveraged capital maneuvers.”

Plus: “China correctly identified semiconductors and semiconductor equipment as key technologies for truly becoming the world’s preeminent technological manufacturing giant. Unfortunately for them (and fortunately for us), the CCP’s endemic culture of corruption and their top-down command economy are antithetical to the onrush of capitalist technological innovation that powers Moore’s Law.”

Well, I certainly hope so.

EVERYTHING IS GOING SWIMMINGLY: When did we start experiencing a surge in STDs? But give them credit for not glossing over the facts:

One of the remarkable things about the linked report is the way that the AP (and presumably the CDC) call out a specific community for being a primary driver of these increases. They first note that monkeypox (or whatever we’re supposed to call it this week) “is being spread mainly between men who have sex with other men.” They later note that the rise in syphilis cases starting in 2002 was seen “largely among gay and bisexual men,” going on to say that the highest rates are currently seen “among Black and Hispanic Americans and Native Americans.” Even assuming that’s true, it was previously considered “homophobic” or “racist” to point such things out.

I should note, though, that it’s not just that “most guys don’t like condoms.” Most women don’t, either.

SETH BARRETT TILLMAN: Even if DOJ can convict Trump of something, it won’t disqualify him as President.

This same question of disqualification arose in advance of the 2016 presidential election in relation to Hillary Clinton’s alleged mishandling of official emails and classified information while she was secretary of state.

However, the majority view, then and now, is that Section 2071 can bar a convicted defendant from holding appointed federal office, but it cannot bar a convicted defendant from running for or holding any elected federal positions. This interpretation follows from the Supreme Court’s decision in Powell v. McCormack (1969), which held that the Constitution’s express textual qualifications (for instance, age, residence, and citizenship) for elected federal positions (that is, members of Congress) are exclusive, and those qualifications cannot be expanded by Congress. In U.S. Term Limits, Inc. v. Thornton (1995), the Supreme Court extended the scope of the Powell principle: States are also precluded from expanding the Constitution’s express textual qualifications for elected federal positions.

Lower federal courts have held that the reasoning in Powell and U.S. Term Limits, which, on their facts, applied to congressional positions, also applies to the presidency.

But they might try to accomplish this via a plea bargain, though that’s iffy too, as Tillman notes. All of this is not normal. I continue to marvel at just how afraid they are of another Trump term.

VODKAPUNDIT PRESENTS YOUR WEEKLY INSANITY WRAP: ‘Beyond Meat’ Exec Tastes the OTHER Other White Meat. “That ain’t vegetable matter, Doug, no matter how you slice it.”

Plus:

  • ‘Save Water, Shower with a Friend’ no longer just a naughty joke
  • The real reason Joe Biden had to sit in the cheap seats at Elizabeth’s funeral
  • The Nancy Pelosi photoshop you’ll hate me for

So much more at the link, you’d have to be crazy to miss it.

FASTER, PLEASE: Supply-Chain Decoupling From China Gets Sharper Teeth.

Two proposed laws in Europe are the latest case in point. The European Union proposed a ban on products made using forced labor last Wednesday. It doesn’t name China but alleged forced labor in the country’s Xinjiang region is clearly a main target. A few United Nations reports have added impetus in recent weeks. A U.N. expert published a report saying it is “reasonable to conclude” that forced labor has taken place in Xinjiang. And the U.N. human-rights agency said China has committed crimes against Uyghurs and other Muslim minorities. China denies such claims.

The proposed law looks less harsh than its U.S. equivalent. The U.S. legislation puts the onus on importers to prove that products from Xinjiang aren’t made with forced labor—an incredibly high bar. The EU proposal doesn’t. Products would only be blocked at the conclusion of an investigation. That, however, could change as the proposal needs approval from the Council of the European Union and the European Parliament.

It could be years before the proposal becomes law—but it will nonetheless add pressure for companies to reassess supply chains now, especially since the U.S. law is already in effect.

Plus: “All of this follows similar moves in the U.S. The healthcare, climate and tax law passed in August provides incentives for domestic manufacturing of clean-energy products such as batteries and solar panels. Washington is also implementing policies to encourage the onshoring of semiconductors and biotechnology.”

What we don’t need is more grift- and graft-filled federal “incentives” that never seem to do much but line pockets. What we need is serious deregulation, tax cuts, and a return to sound currency.

IT’S DANGEROUS MISINFORMATION: The American Media’s Racism Fantasy.

Unchecked power on the part of the Gentry Class is justified on the ground that the great mass of Americans is bigoted and ignorant. That narrative must be maintained even though it’s transparently false.

YES, IT’S IN COMMON USE: Georgetown professor: AR-15 ‘commonly owned’ and ‘incredibly popular.’

On the gun ban side, led by President Joe Biden, the rifle is an “assault weapon” used to kill people. On the gun fan side, led by the National Rifle Association, it’s a tool for hunting and plinking just like every other rifle.

But the truth is, there has been little scholarly study of it and other firearms since 1994, the year the so-called “assault weapon” ban was put into place by President Bill Clinton, which lapsed 10 years later.

Enter political economist and assistant professor William English of Georgetown University’s McDonough School of Business. Long interested in issues surrounding guns, he just headed a massive survey of nearly 17,000 firearms users to come up with the most detailed portrait of today’s owners, users, and their firearms.

The bottom line from his “National Firearms Survey” is that gun-owning is common, the AR-15 really is the most popular firearm in America, and its club of owners is incredibly diverse.

Color me unsurprised.