Free Markets, Free People

Dale Franks

Dale Franks’ QandO posts

Observations: The QandO Podcast for 17 Apr 11

In this podcast, Bruce, Michael, and Dale discuss this week’s battles over the budget.

The direct link to the podcast can be found here.

Observations

As a reminder, if you are an iTunes user, don’t forget to subscribe to the QandO podcast, Observations, through iTunes. For those of you who don’t have iTunes, you can subscribe at Podcast Alley. And, of course, for you newsreader subscriber types, our podcast RSS Feed is here. For podcasts from 2005 to 2010, they can be accessed through the RSS Archive Feed.

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Krugman finally notices Obama’s an empty suit

Funny stuff.  Paul Krugman, representing much of the left, has apparently finally noticed what an empty suit Obama is:

What have they done with President Obama? What happened to the inspirational figure his supporters thought they elected? Who is this bland, timid guy who doesn’t seem to stand for anything in particular?

I realize that with hostile Republicans controlling the House, there’s not much Mr. Obama can get done in the way of concrete policy. Arguably, all he has left is the bully pulpit. But he isn’t even using that — or, rather, he’s using it to reinforce his enemies’ narrative.

Of course Krugman is pretty much focused on economic issues and so seemingly hasn’t been watching Obama through most of his presidency, as many of us have.  He’s finally noticed the “timid guy” who doesn’t seem to stand for anything but does enjoy a good round of golf.

I guess I shouldn’t be surprised it has taken this long – the blinkers had to be firmly in place to elect him in the first place.   You had, to quote Hillary Clinton as she addressed Gen. Petraeus about the situation in Iraq some years ago, “willingly suspend disbelief” in order to vote for the guy in the first place.  What you had to suspend was the belief that experience and leadership count for something, especially when you’re talking about the highest office in the land.

This timid guy Krugman is talking about has shown the rest of us over and over he’s really unsuited for the job.  And now, even the Krugman’s of the world are beginning to take some notice.

I have to admit to laughing out loud at Krugman’s example – apparently the one that finally clued him into the problem:

His remarks after last week’s budget deal were a case in point.

Maybe that terrible deal, in which Republicans ended up getting more than their opening bid, was the best he could achieve — although it looks from here as if the president’s idea of how to bargain is to start by negotiating with himself, making pre-emptive concessions, then pursue a second round of negotiation with the G.O.P., leading to further concessions.

And bear in mind that this was just the first of several chances for Republicans to hold the budget hostage and threaten a government shutdown; by caving in so completely on the first round, Mr. Obama set a baseline for even bigger concessions over the next few months.

Of course Krugman, as typified by his one-trick pony policy of more and more government spending to cure all ills is bound to be upset by any spending concessions a Democrat might make.  However, I loved his characterization of Obama’s bargaining style.  It is true  and not only does it point to someone totally out of his depth, but someone with no real principles upon which to make a stand.

Krugman turns his attention, after wondering what happened to Obama, to trying to trash everything the GOP has put forward or will put forward.  But so captured is he by his discovery of what Obama isn’t that he has to return to that subject:

You might have expected the president’s team not just to reject this proposal, but to see it as a big fat political target. But while the G.O.P. proposal has drawn fire from a number of Democrats — including a harsh condemnation from Senator Max Baucus, a centrist who has often worked with Republicans — the White House response was a statement from the press secretary expressing mild disapproval.

What’s going on here? Despite the ferocious opposition he has faced since the day he took office, Mr. Obama is clearly still clinging to his vision of himself as a figure who can transcend America’s partisan differences. And his political strategists seem to believe that he can win re-election by positioning himself as being conciliatory and reasonable, by always being willing to compromise.

But if you ask me, I’d say that the nation wants — and more important, the nation needs — a president who believes in something, and is willing to take a stand. And that’s not what we’re seeing.

Baloney.  Krugman has to have lived in a cave if he believes the rhetoric has even come close to matching the reality of the Obama presidency.  He is not a transcendent figure by any stretch.  He is, instead, a true exception to the Peter Principle and has indeed risen to a level above his incompetence. 

But to Krugman’s last point – Obama believes in one thing – Obama.  And any objective appraisal of his performance in office these past 2+ years cannot give him very high marks on “principle” or a willingness to take a stand.   There’s a reason for that.  Obama traded principle for the achievement of his ambition years ago.  He’s intelligent enough to talk the talk, but he seems absolutely incapable of walking the walk or even attempting to do so.

As Dale said on the podcast last night, you sometimes get the feeling that when he says something he truly believes it becomes reality.  In this world you actually have to take action and lead to have things happen.  Obama has no idea how to do that.

~McQ

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Observations: The QandO Podcast for 10 Apr 11

In this podcast, Bruce, Michael, and Dale discuss this week’s government shutdown battle and the Wisconsin Supreme Court election.

The direct link to the podcast can be found here.

Observations

As a reminder, if you are an iTunes user, don’t forget to subscribe to the QandO podcast, Observations, through iTunes. For those of you who don’t have iTunes, you can subscribe at Podcast Alley. And, of course, for you newsreader subscriber types, our podcast RSS Feed is here. For podcasts from 2005 to 2010, they can be accessed through the RSS Archive Feed.

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Observations: The QandO Podcast for 03 Apr 11

In this podcast, Bruce, Michael, and Dale discuss the Koran-burning pastor in Florida, the public union struggle in Wisconsin, and the Federal budget.

The direct link to the podcast can be found here.

Observations

As a reminder, if you are an iTunes user, don’t forget to subscribe to the QandO podcast, Observations, through iTunes. For those of you who don’t have iTunes, you can subscribe at Podcast Alley. And, of course, for you newsreader subscriber types, our podcast RSS Feed is here. For podcasts from 2005 to 2010, they can be accessed through the RSS Archive Feed.

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Observations: The QandO Podcast for 27 Mar 11

In this podcast, Bruce and Dale discuss the Libyan situation.

The direct link to the podcast can be found here.

Observations

As a reminder, if you are an iTunes user, don’t forget to subscribe to the QandO podcast, Observations, through iTunes. For those of you who don’t have iTunes, you can subscribe at Podcast Alley. And, of course, for you newsreader subscriber types, our podcast RSS Feed is here. For podcasts from 2005 to 2010, they can be accessed through the RSS Archive Feed.

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Observations: The QandO Podcast for 20 Mar 11

In this podcast, Bruce, Michael, and Dale discuss the Japanese Libyan no-fly zone and the strange case of a man convicted of creating “Liberty Dollars”.

The direct link to the podcast can be found here.

Observations

As a reminder, if you are an iTunes user, don’t forget to subscribe to the QandO podcast, Observations, through iTunes. For those of you who don’t have iTunes, you can subscribe at Podcast Alley. And, of course, for you newsreader subscriber types, our podcast RSS Feed is here. For podcasts from 2005 to 2010, they can be accessed through the RSS Archive Feed.

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Observations: The QandO Podcast for 13 Mar 11

In this podcast, Bruce, Michael, and Dale discuss the Japanese earthquake and the implications for US nuclear policy, and Pres Obaba’s leadership style.

The direct link to the podcast can be found here.

Observations

As a reminder, if you are an iTunes user, don’t forget to subscribe to the QandO podcast, Observations, through iTunes. For those of you who don’t have iTunes, you can subscribe at Podcast Alley. And, of course, for you newsreader subscriber types, our podcast RSS Feed is here. For podcasts from 2005 to 2010, they can be accessed through the RSS Archive Feed.

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My book, Slackernomics, should be available for Kindle tomorrow

I’m happy to announce that sometime tomorrow my book, Slackernomics, will be available on Kindle at the Amazon store for the low, low price of $3. For those who don’t know, Slackernomics is a book on basic economics for people who think economics is boring. Instead of a bunch of charts and math, I present economics in a more enjoyable way.  For instance, here is a portion of my discussion on the role of prices:

Another feature of the price system is that it forces producers to put resources to their most valued uses. This is important because, quite often, consumers demand different goods that use many of the same components.

Let’s take petroleum, for example. People don’t just need gasoline; they need plastics to make computer keyboards and ugly furniture for college students. Businesses need chemicals for industrial production and dyes. Textile companies need artificial fabrics that don’t fade or discolor. Perverts need Vaseline.

So, in bidding for each of those items, their producers are also bidding for the petroleum required to make them. When more people buy Vaseline, Johnson & Johnson has to bid away some of that petroleum from refineries or textile mills. In turn, this increased demand in petroleum causes the price of oil to rise for everyone who uses it.

In order to keep buying oil, everyone now has to pay the price that Johnson & Johnson is willing to pay. As this raises consumer prices for these items, consumers are likely to buy less of them. For example, a consumer, noticing the increase in the cost of Vaseline, decides to spend Saturday night alone.

So, the price that Johnson & Johnson is willing to pay for oil becomes an added cost for all of the other businesses that use oil. If they want to bid away some of that oil, they have to be willing to pay the higher price. But since higher prices tend to mean lower sales, other producers will only bid away as much oil as they think they can use, now that sales are dropping.

The end result is that Johnson & Johnson ends up with a relatively larger portion of oil. In other words, the resource of oil has flowed to the highest valued product, an important…uh…medical lubricant.

Eventually, because there is an increasing supply of Vaseline, demand is affected. At some point, consumers are unwilling to buy it, because there’s enough of it on the shelves. And, of course, with all this petroleum bidding going on, the price has been increasing. So, some consumers may notice that the price of Vaseline has now increased relative to, say KY Jelly, and they may decide to purchase that instead.

Of course, either way, Johnson & Johnson wins.

So, if you’d like to get a better understanding of how economics work, and maybe get a few good laughs on the way, you can get it tomorrow for about 1/6 the price of the physical book.

I’ll provide the direct link to Amazon to purchase it when it becomes available tomorrow.

Observations: The QandO Podcast for 06 Mar 11

In this podcast, Bruce, Michael, and Dale discuss the situation in Libya, and this week’s employment numbers.

The direct link to the podcast can be found here.

Observations

As a reminder, if you are an iTunes user, don’t forget to subscribe to the QandO podcast, Observations, through iTunes. For those of you who don’t have iTunes, you can subscribe at Podcast Alley. And, of course, for you newsreader subscriber types, our podcast RSS Feed is here. For podcasts from 2005 to 2010, they can be accessed through the RSS Archive Feed.

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