Free Markets, Free People

Daily Archives: September 26, 2010


Observations: The Qando Podcast for 26 Sep 10

In this podcast, Bruce, Michael, and Dale are joined by special guest Clyde Middleton from Liberty Pundits to discuss Barbara Boxer, the controversy surrounding the DOJ’s Civil Rights Division, and the week’s Congressional antics.

The direct link to the podcast can be found here.

Observations

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BlogTalk Radio – Tonight 8pm (EST)

Call in number: (718) 664-9614

Yes, friends, it is a call-in show, so do call in.

 Subject(s):

Pot decriminalized in CA – What does that mean to the Feds if anything?

Do the Tea Party candidates have enough to win? – Or were they just a primary tantrum by the voters?

Health care meltdown continues – Mickey D’s may drop health care insurance, Principal Group will quit selling it, Pilgrim’s is dropping 22,000 Medicare patients in the NE,  the industry drops child only policies and the legislation is blamed for exacerbating the doctor’s shortage.  ObamaCare is proving its critics rights weekly – but is that a feature or a bug? 


Third world debating society elects itself world’s envoy in case of alien contact

Because we all know that ET would much prefer to speak with an “obscure Malaysian astrophysicist”, for sure:

THE United Nations was set today to appoint an obscure Malaysian astrophysicist to act as Earth’s first contact for any aliens that may come visiting.

Mazlan Othman, the head of the UN’s little-known Office for Outer Space Affairs (Unoosa), is to describe her potential new role next week at a scientific conference at the Royal Society’s Kavli conference centre in Buckinghamshire.

She is scheduled to tell delegates that the recent discovery of hundreds of planets around other stars has made the detection of extraterrestrial life more likely than ever before – and that means the UN must be ready to coordinate humanity’s response to any “first contact”.

You’ve got to love the UN deciding to glom on to this.  Hey, another reason to increase dues. 

Can you imagine a worse institution to have represent humanity than the UN?  And frankly, if intelligent aliens ever turned up here and were first greeted by representatives of the UN, my guess is we’d be a cinder fairly quickly after that, being deemed by the aliens as not intelligent enough to warrant further survival. 

However, in Dr. Othman’s case, I have to profess some admiration.  She certainly has established herself in a secure job for, well, millennia if she can figure out how to stay alive that long.

And yes folks, your tax dollars, in the form of UN dues, will indeed go toward paying for her new duties.

Live long and prosper.

~McQ


Hugo Chavez wishes he had Obama’s approval numbers

That’s right – even at their lowest ebb right now, Obama’s are better numbers than Hugo has (although Harry Reid would probably kill for Hugo’s numbers):

In a survey last month, Consultores 21 found that only 36 percent of Venezuelans approved of Chavez’s performance, a seven-year low.

Any guess why? Yeah, I know, a real stumper. Let’s channel Bill Clinton’s campaign message for a minute. Ah, yes, there it is – "it’s the economy, stupid." Do you know what the Venezuelan economy looks like right now?

The Economist magazine provides statistics weekly on 57 nations, from the United States to Estonia. Its most recent report forecasts that gross domestic product in Venezuela will decline by 5.5 percent in 2010. Next worst is Greece, with a 3.9 percent decline. Greece, of course, came close to defaulting on its debt earlier this year, and analysts at Morgan Stanley worry that Venezuela is moving in the same direction.

“Our new baseline of at least three years of economic contraction suggests the risks to Venezuela’s ability to honor its international financial commitments may be on the rise,” wrote Daniel Volberg and Giuliana Pardelli in a June report, at the same time predicting that GDP will fall by 6.2 percent in 2010. “While most of Latin America, in line with the globe, has been in recovery mode since last year, Venezuela has seen an intensifying downturn in activity,” they added.

So that’s GDP, the single best measure of economic health. When it comes to inflation, no one is close to Venezuela. Consumer prices are already up 31 percent for 2010 and are expected to rise more by year-end. Only two of the remaining 56 nations monitored by the Economist are suffering double-digit inflation: India and Egypt, both with 11 percent price increases.

Venezuela’s stagflation is all the more remarkable because, as the No. 8 oil-producing nation in the world, the country should be benefiting handsomely from high oil prices.

And it most likely would be doing so if it didn’t have an idiot who thinks socialism works at the helm.

Chavez has spent a lot of time, however, consolidating the organs of government power under his control and stomping out any opposition media in an attempt to keep Venezuelans in the dark (and not just from the rolling blackouts that plague the country) as to what is happening. But economics have a way of running those sorts of blockades when the reality of them sets in on the populace:

But even a news blackout would not prevent Venezuelans from knowing firsthand what is happening to their nation’s economy. Retail sales were down 12 percent in the first half of the year; sales of food, beverages, and tobacco in specialty stores were off 30 percent. Chavez slapped on permanent exchange controls to prevent “the oligarchy from taking U.S. dollars and depositing them in banks around the world.” But like most such controls, they have only panicked investors and businesses and led to more capital flight. Figures from the Central Bank of Venezuela showed $9 billion in capital outflows in the first half of the year.

Venezuelans go to the polls tomorrow in a similar situation to the US – midterm elections and a ruling party that has proven to be inept and corrupt. It is parliament they’ll be voting for. And given the shape of the country, the censorship, inflation, crime (Caracas is more dangerous than Baghdad) and economic disaster Venezuelans have been experiencing the opposition does indeed have some "hope" for "change".

Whether Hugo actually allows that, of course, is another matter altogether.

~McQ

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