Ah the left, you can count on them to come up with some way to get into your wallet in answer to any crisis. Thomas Friedman, the man who admires China’s abilty to control almost all aspects of its citizens life, has a great solution to the recent aggression by Russia’s President Vladimir Putin. Tax Americans:
I don’t want to go to war with Putin, but it is time we expose his real weakness and our real strength. That, though, requires a long-term strategy — not just fulminating on “Meet the Press.” It requires going after the twin pillars of his regime: oil and gas. Just as the oil glut of the 1980s, partly engineered by the Saudis, brought down global oil prices to a level that helped collapse Soviet Communism, we could do the same today to Putinism by putting the right long-term policies in place. That is by investing in the facilities to liquefy and export our natural gas bounty (provided it is extracted at the highest environmental standards) and making Europe, which gets 30 percent of its gas from Russia, more dependent on us instead. I’d also raise our gasoline tax, put in place a carbon tax and a national renewable energy portfolio standard — all of which would also help lower the global oil price (and make us stronger, with cleaner air, less oil dependence and more innovation).
Of course one of the real problems to doing what Friedman wants, i.e. exploiting our “natural gas bounty” is found in the parenthetic statement right after that. Government and environmentalists stand in the way because “the highest environmental standards” is a moveable goal post that is pushed further and further out each time industry approaches it. And, of course, Friedman apparently isn’t cognizant of the fact that the “standards” are one of the major cost factors in keeping prices up.
Naturally Friedman also wants the other lefty dream. The Crimea is as good of an excuse as any. The Global Warming scam has been exposed. The chances of getting that carbon tax based in that nonsense seem ever more remote. But wait, we now have the Crimea! Perfect. Lets tax ourselves to do in Putin. Friedman knows that whatever the excuse, taxes are rarely dropped after they’re once implemented. So, with a “whatever it takes” philosophy guiding this, Friedman has his newest and latest excuse to raise taxes. And note – it’s a long term strategy (which apparently assumes that Russia won’t make adjustments to the threat to its business) which means that these aren’t temporary taxes we’re talking about. No. Not by any stretch.
Oh, and for a guy who is so in love with China, I wonder if he has any idea where Russian oil and gas would go if the EU decided to buy from us?
Yeah, probably not.
First let me thank all the great QandO readers who sent their condolences upon my brother’s passing. They are greatly appreciated.
Now on to the nasty business of government and politics – in particular, the abominable law called ObamaCare:
An estimated seven out of every 10 physicians in deep-blue California are rebelling against the state’s Obamacare health insurance exchange and won’t participate, the head of the state’s largest medical association said.
“It doesn’t surprise me that there’s a high rate of nonparticipation,” said Dr. Richard Thorp, president of the California Medical Association.
Why? Because doctors refuse to work for a pittance. They provide something of value and believe they should be compensated accordingly. But with price fixing by the government, they’re just not going to get their just compensation. So they’re not going to play the game and join in.
California offers one of the lowest government reimbursement rates in the country — 30 percent lower than federalMedicare payments. And reimbursement rates for some procedures are even lower.
In other states, Medicare pays doctors $76 for return-office visits. But in California, Medi-Cal’s reimbursement is $24, according to Dr. Theodore M. Mazer, a San Diego ear, nose and throat doctor.
In other states, doctors receive between $500 to $700 to perform a tonsillectomy. In California, they get $160, Mazer added.
Only in September did insurance companies disclose that their rates would be pegged to California’s Medicaid plan, called Medi-Cal. That’s driven many doctors to just say no.
In fact, as pointed out above, only 30% of the state’s doctors have opted in.
Gee, let’s see the left take the doctor’s side here, okay? Aren’t they the ones always wanting the raise the “minimum wage”. Well, as is obvious here, the “wage” offered is below the “minimum” doctors believe they should be payed. The left ought to be out in the street in protest of this travesty.
Higher pay for doctors! After all, most of them are small business owners and … oh, wait, that makes them the bad guys. I forgot. The left isn’t going to protest this because these guys are privileged or something. Nevermind the fact they provide jobs for others and can’t pay them more than they receive.
I’m sure trying to think this through and come to an equitable solution will shred a few brains on the left.
And it has all the ear-markings of the usual failure. New York mayoral race:
Since the days of Bill Clinton and the New Democrats, it has been a totem of faith in some liberal-progressive circles that the key to lifting up the lower ranks lies in downplaying social and economic conflicts, cozying up to business interests, and tackling inequality covertly, through largely invisible subsidies such as the Earned Income Tax Credit. De Blasio, in pledging to raise taxes on the rich to finance his education programs, has challenged this formula, and turned himself into the standard-bearer for what some see as a new era of urban populism.
Yes indeed, a “new era of urban populism”, or as those who view the idea just a little differently, a new era of class warfare in which the demonized class gets robbed and the proceeds of the theft are supposedly redistributed for the benefit of the “proletariat”. It’s not like we don’t spend enough on education now. You’d think a smart mayoral candidate would consider the possibility that money isn’t the problem. But that’s too difficult and besides, when you’re supported by teachers unions, well, it’s easier to go after the rich.
And, of course, the author of this article is quite excited about it. It’s like this has never happened recently in, oh, I don’t know, France? You know … where they decided those filthy rich should pay for everything. It certainly wasn’t a matter of “urban” populism per se, but it was a matter of socialist populism – same thing. Result? The rich started moving elsewhere. Imagine that.
Of course De Blasio would have to get this past the state legislature – not likely anytime soon. And, as the author mentions, it’s not a huge tax raise so it’s likely not to get much coverage even if it is passed. But the point of course is the left never learns. Ever. They’re committed to the same failed policies and same failed solutions as they always have been.
Most remarkable is the apparent surprise they register when the predictable happens. It is like they’re geese and they wake up in a new world every day? Unfortunately we have to share the world with them and they’re making it progressively unlivable.
Andrew Klavan discusses what the left has been reduced to in defending its failures:
I think he pretty accurately capsulizes today’s climate on the left. Totally out of arguments, adrift in leftist failures worldwide, all they have left is to yell"shut up" at their opposition. And as he points out, they simply use different code words in their attempt. I also agree with his conclusion:
Don’t shut up.
Over at Just One Minute, Tom takes a look at a couple of articles on the Zimmerman trial, and finds an astonishing admission from a black pastor.
If you’ve been paying attention to the trial, you know that it’s almost over, and every observer with a shred of objectivity thinks Zimmerman will get a “not guilty” verdict.
Problem is, the local black community was convinced from the beginning that Zimmerman was guilty. The media led them right to that conclusion with misleading reporting. For at least one outlet, NBC, it went beyond misleading into outright fraud.
Naturally, those craven journalists will never take responsibility and set the record straight. They even continue to fan the flames with race-baiting articles like the one Tom cites from the New York Times, which included this quote:
Mr. Oliver, the Sanford pastor, said he remained optimistic. “You can feel a little sense that anger is re-emerging,” he said.
You don’t have to be a trained sociologist* to know what that means – possible civil violence, maybe on the scale of the Rodney King riots.
Why anger? Isn’t an innocent man walking free a good thing? Ah, but we’re back to the world of post-modern narrative. Truth doesn’t matter, only narrative matters, and narrative doesn’t have to have any relationship to truth. In the black community, the dominant narrative is that Zimmerman is guilty. As that race-baiting article put it:
Still, black pastors, sociologists and community leaders said in interviews that they feared that Mr. Martin’s death would be a story of justice denied, an all-too common insult that to them places Trayvon Martin’s name next to those of Rodney King, Amadou Diallo and other black men who were abused, beaten or killed by police officers.
That paragraph only makes any sort of logical sense if you assume from the outset that Trayvon is innocent and Zimmerman is guilty.
Out in the real world, where people are watching the trial, there is a dawning realization that the media got it wrong in the first place, and Zimmerman deserves acquittal. Some of us actually went beyond the fraudulent reporting of the major media and realized that months ago.
But the local black community, and others like it across the nation, sounds like it is not prepared to accept that message. They’ve been told for too long how they are victims and Trayvon is just another one.
Despicable race baiters such as the author of that New York Times article, and the sociologist quoted in it, carefully nurture that attitude. Local leaders pick up the tune, amplifying it. The local educational system, mostly dominated by left-leaning teachers unions, reinforces it while simultaneously ensuring that the locals are handicapped in trying to ever break out of that cultural matrix.
The end result is a community culturally isolated from its larger society. It’s members reinforce each others prejudices, and nurture old grievances. They find themselves unsuited for life outside their local community, because they lack the education to fit in anywhere else. This becomes yet more evidence that the outside world has it in for them.
Thus is fulfilled the dreams of the southern white segregationists. Blacks are encouraged to stay in their own culturally isolated communities.** They are encouraged to believe they are somehow different and cannot mix with outside communities. Their poor education marks them as second class citizens.
Who would have thought that government dependence programs, corrupt Democratic city politicians, and a biased leftist media would accomplish what the white segregationists could not?
For me, it’s one more reason to despise the American left. I hate what they have done to my fellow citizens. I despair when I realize that a typical inner-city resident has no reasonable hope of social mobility, and is stuck in a cycle of government dependence, generation after generation. I shake my head at the nonsense peddled to them by the left and by the likes of Jesse Jackson, Al Sharpton, and Barack Obama.
I hate that one of the more likely outcomes of the Zimmerman trial is that, like the Rodney King affair, black neighborhoods will end up getting torched and looted – by blacks.***
Hey, New York Times and all your “compassionate” leftist race-baiters – does this make you happy?
* Like the race-baiting one in the article, who complained that the non-credible, borderline illiterate star witness for the state was “mammyfied”.
** As one of the effects, just look at how many wealthy suburbs of major American cities are lily-white.
*** I hope it doesn’t happen, and my incurable optimism says maybe the evidence is so clear in this trial that it won’t. But lately, my pessimistic side has a better track record than my optimistic side.
In the book In Denial: Historians, Communism, and Espionage, a great story is told about historian Robert Conquest. He wrote a book in the 1980s about the abuses of Stalinism, and got the usual roasting from Soviet apologists in academia. They accused him of cherry-picking data, failing to see Stalin’s supposed good points – the usual blather of Marxist-friendly social science academics.
After the fall of the Soviet Union, opened archives showed that Conquest not only had it right, but was actually a bit conservative is his assertions. His publisher suggested an updated edition of the book incorporating that information, and asked Conquest if he wanted to change the title.
Conquest responded “How about ‘I told you so, you f*cking fools’”? *
I’m feeling that same impulse after reviewing the cascade of scandals over the last few weeks.** Anyone who wasn’t mesmerized by Obama and actually paying attention already knew that:
1. Benghazi was not just a tragedy. It was one of the most massive screw-ups ever perpetrated by the State Department, and there was clearly a cover-up to keep the rest of us from finding out the what, where, when, how, and why.
Various folks on the right could see all this, yet our supposed smart media pundits at major organizations are still expressing surprise at every new revelation. In other words, we told you so, you f*cking fools. And we were ignored, or even ridiculed as paranoid and obsessive.
I learned a valuable lesson in my first job out of graduate school. The software company I worked for was acquired by a giant corporation. The executives from that giant corporation came down for meetings after the acquisition. After listening to them for a day, I concluded that they were incompetent fools.
But I had some doubt. How could they have reached such a position of authority and still be such fools?
Yet, in the ensuing years, under their leadership, the giant corporation lost tens of millions of dollars running that small software company into the ground. They ended up selling it after five years for about five percent of what they paid for it. So yeah, those guys really were the incompetent fools I thought they were.
I now assume that if I have good reasons to believe something, the assertions of powerful or influential people don’t change my mind. I assume they are simply ignorant, willfully blind, or actively deceptive. This round of scandalous outrages by the Obama administration is just another confirmation of that assumption. If media types and establishment politicians didn’t realize these problems existed before last month, then they are f*cking fools, no matter how high they have risen in the political class.
On the other hand, if they knew the problems existed and did nothing, they are despicable villains and not fit to be in the job they hold. Not in their own eyes, of course. As Robert Conquest found out, to those on the left, even Josef Stalin isn’t really a villain.
* I first saw the anecdote about Conquest in a review of the book in Reason Magazine, Fools for Communism. I got the book, which is a concise, good read. If you want examples of willful blindness by lefties, In Denial is a great source.
** Many writers predicted Obama scandals early in his term. I’m pretty sure they feel the same lack of surprise, even if they don’t express it in such a vulgar way.
Over at Cold Fury, Mike is discussing the spectacle of Lois Lerner taking the 5th before Congress. He
observedquoted DrewM at Ace of Spades:
What a smug SOB she is. She sat there like she’d done nothing wrong and was above it all.
That is not due to any intended deception on her part. She believes that she did nothing wrong, all the way to her core of her being.
First, as Heinlein said, no one is a villain in their own eyes. They always manage to rationalize why their immoral or unethical actions were actually just peachy if everyone knew the whole story about them.
But it goes beyond that with today’s leftists. They are steeped in post-modern philosophy, so steeped in fact that they can’t even think outside the patterns imposed by that philosophy. There are axioms that they believe cannot be violated, and that reality can never falsify.
One axiom is that leftists are wise, beneficent people who are eminently qualified to boss everyone else around by virtue of their superior intellect and good intentions. The direct corollary to this axiom is that any time they fail in the real world, the fault must be ascribed to someone not on the left.
Reality doesn’t matter here. Any non-left group will do as the scapegoat, even squishy establishment Republicans. Any excuse (non-doctored "doctored" emails, non-hacked "hacked" Twitter accounts) will do.
That leads to another axiom: anyone who opposes the left deserves whatever the left can inflict on them. Anyone opposing the left has shown by that very fact that they are morally deficient, have bad intentions, and are possibly less than human.
So it’s not wrong to discriminate against them, violate the law to deny them access to the political process, throw them in jail for non-existent or flimsy reasons (such as carrying a perfectly legal gun in the trunk of their car), tax them until their ears bleed, seize their property because someone else happened to be parked there with a joint, seize their property because they changed the course of a creek that only runs once every three years, throw them out of college for inoffensive remarks that accidentally offend another hyper-sensitive leftist, take their children away from them for indoctrination by the state, and prohibit them from doing a thousand things that used to be perfectly legal and have no demonstrated harm or ill effects.
In fact, it’s not simply that it’s not wrong to do those things. It’s virtuous to do such things to those who oppose the left. Lois Lerner can sit there and be smug in the face of Republican questions because she’s positive in her heart and soul that she was doing good to impede and harass the Tea Party organizations. It was a virtuous act, as far as she is concerned, and she does not feel the least shame or guilt over it.
It’s an inconvenience that she and the rest of the oppressive leftists who love government got caught, of course. They have to manufacture narrative, dance around those bumbling Republicans who have to put up a show for the people back home, and, perhaps worst of all, they’ll have to suspend their oppression of their political enemies during a short cosmetic period before they get back to business.
But never, ever expect today’s left to show remorse for any act they undertake, no matter how illegal, immoral, or unethical it might be. For them, whatever behavior benefits the left is, by definition, virtuous.
*** Update 11:40 CST ***
The very next article I read is an excellent example of one of the points above. Kirsten Powers in USA Today is doing her best to defend the indefensible.
A synopsis of her article is:
“These scandals can’t possibly be blamed on liberalism because liberals are good, virtuous people. Therefore the Republicans who are claiming these scandals indicate flaws in big government are unfairly twisting the truth for political advantage. Big government is clearly wonderful when run by virtuous liberals.”
Notice how this dovetails into the idea that the left is never at fault when things go wrong, and thus a scapegoat must be found. It was big-government advocates who put the tax system in place, appointed people with the willingness to suppress opposing viewpoints with the power of the IRS, and covered up those actions as long as possible. Nevertheless, the real villain in the investigation is small government advocates!
She dismisses those who actually did the political oppression as aberrations and peripheral to the entire debate. But those who indict big government using the very actions of big government are somehow bad actors.
There’s no debating people who will simply deny the facts sitting on the table because their worldview does not permit them to think liberalism/leftism has any flaws.
Look, I know the flaws of free market economics. Some abuses will occur, usually transient and corrected in the long term by the market, but real for a time. I know allowing radical freedom means some people will make bad choices.
I don’t claim limited government is without flaw, nor that everyone on the right is a saint. But history and our internal desire for freedom tell us that limited government is the best system we can get.
At least it has feedback built in to correct flaws. Perhaps the biggest indictment of today’s leftism is demonstrated by Kirsten’s column: she and her ilk are incapable of taking feedback on the flaws of the political system she prefers. All she can do is blame problems on the other side, and keep maintaining against all evidence that her side does not have the flaws that it so evidently does have.
*** Update 15:00 CST ***
Looks like Congressman Issa wasn’t any more impressed with Lerner’s smug “I’m so, so innocent” performance than the rest of us. He’s hauling her back and telling her that her opening statement claiming innocence means she waived 5th Amendment rights. (Via Drudge)
To be fair, they don’t understand how most things work, especially when there’s math involved, but this particular quirk is quite annoying.
I remember the first time I came across this general ignorance (see the comments), in a West Wing episode:
Actual dialog from a recent West Wing rerun:
Josh: What do I say to people who ask why we subsidize farmers when we don’t subsidize plumbers?
Farmer’s daughter 1: Tell ’em they can pay seven dollars for a potato.
Yes, I know it’s a TV show, but do people actually think like this? I always assumed that the reason we couldn’t get rid of farm subsidies was rent seeking by the farmers, but if people actually believe this, that could be part of the problem.
GOP meat eaters aren’t free market – they want everyone to subsidize their eating via taxes that fund meat subsidies.
Among best ways to reduce meat consumption is to end ag subsidies so that the cost of meat is a true free market price – think: $9 burgers
David also makes the correct point that some GOP congressmen vote to keep these subsidies in place (particularly those in states with farms that benefit the most from them), but that doesn’t alleviate the complete misunderstanding of what these subsidies do.
In short: agricultural subsidies don’t reduce consumer prices, but instead raise them.
In fact, the entire point of these subsidies is to set minimum price levels (often called “price supports”) or trade barriers that create an artificial monopoly. The entire milk industry, as an example, is propped up with such subsidies. Why else do you think it costs about as much for a gallon of milk as does for a gallon of gas?
Although there had been several different forms of subsidies in the U.S. prior to the 1930’s, most were simple tariffs. When the Great Depression began, the Roosevelt Administration sought to prop up the nation’s farmers by raising their incomes. How did they propose to do that? Mainly by setting minimum prices and production quotas (remember Wickard v. Filburn?):
When Franklin D. Roosevelt was inaugurated president in 1933, he called Congress into special session to introduce a record number of legislative proposals under what he dubbed the New Deal. One of the first to be introduced and enacted was the Agricultural Adjustment Act. The intent of the AAA was to restore the purchasing power of American farmers to pre-World War I levels. The money to pay the farmers for cutting back production by about 30 percent was raised by a tax on companies that bought farm products and processed them into food and clothing.
The AAA evened the balance of supply and demand for farm commodities so that prices would support a decent purchasing power for farmers. This concept was known as “parity.”
AAA controlled the supply of seven “basic crops” — corn, wheat, cotton, rice, peanuts, tobacco, and milk — by offering payments to farmers in return for farmers not planting those crops.
The AAA also became involved in assisting farmers ruined by the advent of the Dust Bowl in 1934.
In 1936 the Supreme Court, ruling in United States v. Butler, declared the AAA unconstitutional. Writing for the majority, Justice Owen Roberts stated that by regulating agriculture, the federal government was invading areas of jurisdiction reserved by the constitution to the states, and thus violated the Tenth Amendment. Judge Harlan Stone responded for the minority that, “Courts are not the only agency of government that must be assumed to have capacity to govern.”
Further legislation by Congress restored some of the act`s provisions, encouraging conservation, maintaining balanced prices, and establishing food reserves for periods of shortages.
Congress also adopted the Soil Conservation and Domestic Allotment Act, which encouraged conservation by paying benefits for planting soil-building crops instead of staple crops. The rewritten statutes were declared constitutional by the Supreme Court in Mulford v. Smith (1939) and Wickard v. Filburn (1942).
During World War II, the AAA turned its attention to increasing food production to meet war needs. The AAA did not end the Great Depression and drought, but the legislation remained the basis for all farm programs in the following 70 years.
The entire point of these subsidies is to increase the incomes of farmers. It has never had anything to do with making the price of a potato or a hamburger cheaper for consumers. By design, these programs intend to raise the price for agricultural products, as well as to transfer dollars from taxpayers to farmers.
How liberals like David Sirota and Aaron Sorkin came to think the exact opposite is puzzling. As Ronald Reagan said: “It isn’t so much that liberals are ignorant. It’s just that they know so many things that aren’t so.”
If ever there was a load of crap on toast, it can be found today in Michael Lind’s atrocious piece in Salon.
He calls it “Southern Poverty Pimps”. I see a more apt name to be “Southern Cliches R Us”.
It is probably one of the more absurd attempts to make the economic success in Texas look bad that I’ve seen in quite some time. You would almost feel it was something Paul Krugman would hack out. One of my bets, concerning all the negative stereotypes Lind uses, is he’s rarely if ever been in the South.
Needless to say, private sector unions that pool worker bargaining power are anathema to today’s suave metropolitan successors to the slave-owning plantocracy. The whole point of the Southern model of economic development is to create a non-union region from Virginia to Texas, to which companies can be induced to move from states with unionized workforces. Besides, unions engage in collective bargaining, in violation of the Southern ideal of employer-worker relations, in which the master gives orders and the fearful worker obeys without question.
Of course the fact that in the great North unions are losing members like water through a sieve would never see the light of day in a Lind expose, one assumes. That would run contradictory to his whole premise that the South has just shifted from racial slavery to economic slavery. No mention of the thousands upon thousands fleeing the horrible economic conditions of Blue states, no mention of Detroit, no mention of the rust belt. No mention of the urban blight found in Blue states or their failing economies.
You see, if the “Southern model”, aka the Red State Model” is allowed to exist, if it isn’t demonized and condemned, if all stops aren’t pulled out to include the usual racial and ethnic accusations the left loves to fling around, well, it might make people think that the Red States are on to something.
Of course, we already know they are, don’t we?
And so does Texas. You see, Texas’ success terrifies them.
Thus Lind’s pitiful attempt to use the divisive language of which the left is so fond. It couldn’t be that people actually are fine with their wages and tired of unions who take their money and really don’t produce much of anything but fat-cat union officials could it?
It’s all about “economic slavery”.
Leave it to former White House Chief of Staff and current Mayor of Chicago Rham Emanuel to provide us with the example. George Will tells the sorry story:
Politics becomes amusing when liberalism becomes theatrical with high-minded gestures. Chicago’s government, which is not normally known for elevated thinking, is feeling so morally upright and financially flush that it proposes to rise above the banal business of maximizing the value of its employees’ and retirees’ pension fund assets. Although seven funds have cumulative unfunded liabilities of $25 billion, Chicago will sacrifice the growth of those assets to the striking of a political pose so pure it is untainted by practicality.
Emulating New York and California, two deep-blue states with mammoth unfunded pension liabilities, Chicago Mayor Rahm Emanuel (D) has hectored a $5 billion pension fund into divesting its holdings in companies that manufacture firearms. Now he is urging two large banks to deny financing to such companies “that profit from gun violence.” TD Bank provides a $60 million credit line to Smith & Wesson, and Bank of America provides a $25 million line to Sturm, Ruger & Co.
Chicago’s current and retired public employees might wish the city had invested more in both companies. Barack Obama, for whom Emanuel was chief of staff, has become a potent gun salesman because of suspicions that he wants to make gun ownership more difficult. Since he was inaugurated four years ago, there have been 65 million requests for background checks of gun purchasers. Four years ago, the price of Smith & Wesson stock was $2.45. Last week it was $8.76, up 258 percent. Four years ago, the price of Sturm Ruger stock was $6.46. Last week it was $51.09, up 691 percent. The Wall Street Journal reports that even before “a $1.2 billion balloon payment for pensions comes due” in 2015, “Chicago’s pension funds, which are projected to run dry by the end of the decade, are scraping the bottoms of their barrels.”
So we have the Mayor of Chicago using, well, Chicago style “politics”, to make a “moral statement” that likely few of his citizens agree with and hurting an already failing retirement system by demanding stocks that are doing well be dropped. We call that “moral preening” and, of course, it’s no skin off his back – he’s not the one losing the money – retirees are. Screw serving the public welfare – his job. He’s all about hurting the public welfare to make a private moral statement.
As for the false moral equivalency? Here you go:
Nevertheless, liberals are feeling good about themselves — the usual point of liberalism — because New York state’s public pension fund and California’s fund for teachers have, the New York Times says, “frozen or divested” gun holdings, and Calpers, the fund for other California public employees, may join this gesture jamboree this month. All this is being compared to the use of divestment to pressure South Africa to dismantle apartheid in the 1980s.
Guns are as evil as “apartheid” and thus should be dealt with the same way. Because everyone knows that owning a gun is precisely the same as being an oppressive racist using the power of government to enforce your racism. Or moralism.
Never mind the fact that:
Guns are legal products in America, legally sold under federal, state and local regulations. Most of the guns sold to Americans are made by Americans. Americans have a right — a constitutional right — to own guns, and 47 percent of U.S. households exercise that portion of the Bill of Rights by possessing at least one firearm.
The left, as it usually does, is going to demonize an industry just as they have the fossile fuel industry. Amusingly, that too is one of the left’s “apartheid divestment” moves.
Moral grandstanding, however, offers steady work, and the Chronicle of Higher Education reports a new front in “the battle against climate change”: “Student groups at almost 200 colleges and universities are calling on boards of trustees to divest their colleges’ holdings in large fossil-fuel companies.” Of course, not one share of those companies’ stock will go unsold because academia is so righteous. Others will profit handsomely from such holdings and from being complicit in supplying what the world needs. Fossil fuels, the basis of modern life, supply 82 percent of U.S. energy, and it is projected that they will supply 78 percent of the global increase in energy demand between 2009 and 2035, by which time the number of cars and trucks on the planet will have doubled to 1.7 billion.
Of course, that’s not a problem for fossile fuel companies because their stocks aren’t going to go without a buyer. Institutional investors who actually are interested in helping build wealth in a portfolio will snap them up. What will suffer? University endowment funds, that’s what. Most people would call that sort of moral preening a “self-inflicted wound”. It won’t change a thing, it’s moral relativisim at its worst and someone else will be happy to take the dividend income those boobs are foregoing.
Institutions of higher education will, presumably, warn donors that their endowments will be wielded in support of the political agenda du jour, which might include divesting from any company having anything to do with corn, source of the sweetener in many of the sodas that make some people fat and New York’s mayor cranky. Or anything to do with red meat, sugar, salt, trans fats, chickens not lovingly raised . . . .