Archive for the ‘Economics’ Category

LinkSwarm For April 25, 2024

Friday, April 26th, 2024

The Biden Recession bites deeper, Soros’ hands are all over the pro-Hamas protests, California fast food wage hikes hurt workers (but help robotics companies), and some Harris County legal followups. Plus some Zack Snyder bashing. It’s the Friday LinkSwarm!

  • MSNBC accidentally has guest on that accidentally tells the truth about the Biden Recession.

    For the first time in our history, a 30-year-old man or woman isn’t doing as well as his or her parents were at 30. That is the social compact breaking down.

    People aged 30-34, 60% of them in 1990 had one child. Now it’s 27%. People are opting out of America, they’re not optimistic about it, they’re not having kids. Young people aren’t having sex. They’re not meeting, they’re not mating. The pool of emotionally and economically viable men shrinks every day. Which lessens household formation.

    They (millennials and Gen Z) look up, they see wealth, exceptional wealth, across my generation and people in certain industries, and they are really struggling. Their purchasing power is really going down…

    We get very concerned with housing and traffic once we own the housing. Housing permits are sequestered from young people, housing prices have gone from $290,000 to $420,000 in the last 4 years.

    So a young person, a house, stocks that I don’t own, skyrocket in value, let’s have Covid relief and flush the markets and take assets way up because a million people dying would be bad, would be tragic if I got less wealthy, and we’re doing it on their credit card.

  • Whole paycheck: $7 for an apple. Thanks, Joe Biden!
  • “Bill Maher Calls Out Hollywood Pedophilia And The Gay Agenda In Schools.”

    Bill Maher is, if anything, clever about his timing like most comedians. His rebellion against the woke mob has been carefully crafted in a way that has allowed him to avoid outright cancellation. It’s not as impressive a revolt as Gina Carano’s because the risk today is far less, but at least he’s willing to address the obvious hypocrisy within the social justice crowd and admit that maybe, just maybe, conservatives had it right all along.

    His latest surprising monologue covers an issue everyone has known about for years but almost no one in the media has been willing to address seriously because it involves many of their friends in the entertainment industry. Hollywood was quick to jump on the feminist bandwagon at the helm of the “Me Too Movement”, but this only exposed a small part of Hollywood’s degeneracy. Actresses trading sex for favors from producers and executives is hardly that shocking a revelation. The thing they really don’t want to talk about is the industry’s penchant for pedophilia…

    The money quote from that video that’s not in the ZeroHedge article: “The left will overlook child-fucking if a guy from the wrong party points it out.”

    One of the deepest darkest secrets of film, television and music media is that the business has long been used as a vehicle for child abusers to target kids in an environment where parental supervision is limited (and lots of money can be gained). This reminds us of yet another environment where parental supervision is limited: Public schools. The political left has also targeted these institutions as ample ground for grooming. Why? As Bill Maher notes, the groomers are naturally gravitating to where the children are.

    “Leave the kids alone” is a mantra that the woke movement simply refuses to understand or accept. The reason is relatively transparent – Leftists are less inclined to have children of their own, and so, in order to increase their numbers and power they are required to indoctrinate your kids instead. This is all done under the guise of “inclusion” and the “greater good” but the results of this kind of activism are becoming deeply disturbing. Even moderate liberals are noticing that woke behavior is destroying what remains of their image.

  • “Unsealed Court Docs Reveal Biden DOJ Colluded With National Archives To Target Trump, Jack Smith Tried To Conceal.”

    Newly unsealed documents in Donald Trump’s classified documents case reveal that the Biden White House colluded with the National Archives (NARA) and the FBI to concoct a case against the former president.

    What’s more, Special Counsel Jack Smith sought to conceal this – telling Judge Eileen Cannon in February that Trump’s counsel isn’t entitled to discovery on documents between the White House and NARA, that the court should toss requests for evidence of the alleged coordination, and that the court should deny Trump’s request for evidence related to secure facilities at his residences. Further, Trump’s request for unredacted discovery of materials should be denied.

    Seems like a substantial due process rights violation, doesn’t it?

  • Ukraine/Israel/Taiwan aid package signed into law.

    Immediately after Biden’s signature, the Pentagon announced $1 billion of military assistance to Ukraine from the Presidential Drawdown Authority.

    Stinger anti-aircraft missiles, ammunition for HIMARS rocket systems, 155mm artillery rounds, 60mm mortary rounds, and Bradley Infantry Fighting Vehicles, are among the U.S. capabilities being provided to Ukraine, the Pentagon said.

    The foreign-aid legislation will send roughly $60 billion in aid to Ukraine, with $23 billion being used to replenish U.S. weapons stockpiles and $11 billion to fund U.S. military operations in the surrounding area.

    Israel will receive $26 billion including $4.4 billion to fund its Iron Dome and David’s Sling missile defenses. Over $9 billion of the Israel aid will go towards humanitarian relief.

    While I support military aid to Ukraine, Republicans should not have dropped their demand that border security be addressed first, nor should we be raising the national debt to do it. And if we’re going to be paying for David’s Sling and Iron Dome, then we better damn well be getting the tech back to use in our own weapons.

  • “Half of Americans — including 42% of Democrats — say they’d support mass deportations” of illegal aliens. (Hat tip: Instapundit.)
  • I know you’re going to be shocked, shocked to find out that George Soros is funding the anti-Israel student protests.

    At three colleges, the protests are being encouraged by paid radicals who are “fellows” of a Soros-funded group called the US Campaign for Palestinian Rights (USCPR).

    USCPR provides up to $7,800 for its community-based fellows and between $2,880 and $3,660 for its campus-based “fellows” in return for spending eight hours a week organizing “campaigns led by Palestinian organizations.”

    They are trained to “rise up, to revolution.”

    The radical group received at least $300,000 from Soros’ Open Society Foundations since 2017 and also took in $355,000 from the Rockefeller Brothers Fund since 2019.

  • More on that theme:

    (Hat tip: Commenter MadTownGuy.)

  • Also on that subject:

    A lot of Jewish friends, especially those who are finally awake after 10/7, say things like “how is this America?” or “It’s so scary that this Jew-hatred is happening everywhere.” But it’s very much NOT “America” and it absolutely is NOT happening “everywhere.” In south Florida, Jews wear the dinner plate Magen Davids and no one says one word. In rural Michigan, churches put “pray for Israel” on the signs outside. I’m not naive, obviously Jew-haters can and do live anywhere. But they’re only thriving, open, proud, in blue areas and I’m not going to let people ignore that. A lot of liberal Jews are trying to parse things right now. They imagine they are still of the left but just on this one tiny little thing, their right to exist, they disagree. No, my friends. It’s a house of cards and you’re pulling the one from the very bottom. The whole left ideology is corrupt and you’re going to have to face it. You can’t spread the blame around. The hatred, the rage, the violence, the dehumanization is all coming from one side: yours.

    (Hat tip: Stephen Green at Instapundit.)

  • “Houston Teacher Arrested for Improper Relationship with a Student. Cy-Fair teacher Kayden Burbank allegedly had a sexual relationship with a 15-year-old student.”
  • When Democrat judges go rogue. “Do not bring the Second Amendment into this courtroom. It doesn’t exist here. So you can’t argue Second Amendment. This is New York.” (Hat tip: Stephen Green at Instapundit.)
  • California’s fast food wage hikes have had exactly the effects every non-Democrat predicted.

    The state of California seems hellbent on making life a living hell for middle-class residents, as evidenced not just by their soft-on-crime policies but by the minimum wage increase that went into effect at the beginning of April.

    Though the $20/hour wage was ostensibly designed to help minimum wage workers, it has had the opposite effect, with fast food restaurants in the Democrat-run state slashing jobs and hours, implementing hiring freezes, and/or bringing in self-serve kiosks to ease the financial burden.

    Something else they’ve had to do is raise prices on the food they serve, with prices going up as much as eight percent at some locations.

  • Another result: here come the robots.

    While the fast-food industry was founded on utilizing technology to increase efficiency, the robot revolution seems to be speeding up.

    Last year, Sweetgreen, a Los Angeles-based fast-casual salad chain, debuted its fully automated Infinite Kitchen at a restaurant in Illinois. Like Mezli, the Infinite Kitchen moves bowls down a conveyor belt where its system automatically portions out ingredients. The technology is “expected to cut labor costs in half while boosting throughput,” according to a trade magazine.

    Similarly, the founder of Chipotle recently launched a new fast-casual chain, Kernel, that utilizes robots to heat and assemble vegetarian meals.

    In December, a CaliExpress burger joint opened in Pasadena, complete with robot arms that cook burgers and fries, and AI-powered kiosks that allow customers to order and pay (and tip, of course), with their faces. Leaders at Miso Robotics, one of the companies behind CaliExpress, have said it is the first restaurant where all the ordering and cooking is fully automated.

    The robots “don’t call in sick, they don’t get drunk the night before work and come in with a hangover,” one CaliExpress leader told a local TV station. “They’re a little bit more reliable.”

    Other restaurants, including Cajun Crack’n in Concord, Calif., are experimenting with robots that can deliver food, bus tables, and may soon be taking orders. Robot bartenders and baristas are also in the works.

    While restaurant sales are forecasted to increase this year and the restaurant workforce is expected to grow, owners are continuing to struggle with slim margins, in part due to food inflation and rising labor costs. According to the National Restaurant Association’s 2024 State of the Restaurant Industry report, 98 percent of restaurant operators are struggling with higher labor costs, and 38 percent say they weren’t profitable last year.

    Biden Recession + union-backed wage hikes = boom times for robots

  • Ukraine drone strike hits a Russian oil refinery in Yartsevo
  • …and an oil facility at Kardymovsky, Smolensk.
  • El Paso Democratic judge: Eh, there’s not enough evidence to put these illegal aliens on trial for assaulting state troopers. Just let them go. Grand jury: Nope! We’re indicting 141 of them for that riot.
  • America doesn’t have enough dry docks to fight a protracted naval war. (Hat tip: The Other McCain.)
  • ERCOT estimates that an additional 40,000 megawatts of generating capacity by 2030.
  • Followup: Harris County’s scheme to handout guaranteed income paychecks has been blocked by the Texas Supreme Court. (Previously.)
  • Another Harris County follow-up: DA Kim Ogg announced that the legal cases against Lina Hidalgo staffers will now be prosecuted by the Texas Attorney General’s office because Democratic DA nominee Sean Teare, who defeated Ogg in the March primary, “works for the Cogdell Law Firm, which is defending Hidalgo’s former Chief of Staff Alex Triantaphyllis in the case, and that he had sought and received Hidalgo’s endorsement.”
  • The Biden Administration wants to waste taxpayer money pushing radical transgenderism in other countries. “The Biden administration wants to train at least 200 activists to advocate for transgender rights in India as part of a program ostensibly designed to advance America’s ‘national interests,’ according to a federal grant posting.”
  • More Biden Administration madness: “A popular US convenience store chain has been hit with a civil rights lawsuit accusing it of discriminating against minority job seekers because it requires applicants to have no criminal record.”
  • “Largest Christian University in America Gets Fined $37 Million. Coincidence or Targeted Attack?”

    A dust storm of political madness is brewing in Phoenix as Grand Canyon University faces the continued threats of Education Secretary Miguel Cardona.

    Christians have watched as the Biden administration attacks biblical views left and right, with a particularly vehement disregard for the sanctity of life and marriage. As such, it can’t be too surprising that Cardona, a part of this leftist administration, has vowed to shut down America’s largest Christian university.

    In late October, Grand Canyon University was hit with “a $37.7 million fine brought by the federal government over allegations that it lied to students about the cost of its programs,” The Associated Press reported—an accusation that GCU President Brian Mueller described as “ridiculous.”

    Around the same time, Liberty University, America’s second-largest Christian university, also was fined $37 million “over alleged underreporting of crimes.”

    Grand Canyon University appealed its fine in November even though a hearing is not expected until January 2025. But the question Mueller has is one of integrity. Is this genuine consideration for the well-being of students, or is this a targeted attack against religious institutions?

    “It’s interesting, isn’t it, that the two largest Christian universities in the country, this one and Liberty University, are both being fined almost the identical amount at almost the identical time?” GCU’s president speculated in a speech. “Now is there a cause and effect there? I don’t know. But it’s a fact.”

  • Trader Joe’s organic basil has an extra organic ingredient: salmonella.
  • Critical Drinker wasn’t impressed with Rebel Moon 2: “Comically inept…boring and tedious..derivative cliched and unoriginal. It takes a special kind of cinematic anti-genius to bring all these things together into one movie. You have to actively work to make a film this bad”
  • Penguinz0 says it’s actually worse than the first one. “It’s a disaster on the most basic levels of movie making.”
  • In fact, he watched Rebel Moon Part 2 twice just to count the slo-mo scenes. “It came out to 1,256 seconds, or 20 minutes and 56 seconds worth of slow motion.” But he might have missed some while dozing. “This shit hits harder than NyQuil.”
  • The Biden Recession hits boardgaming. This is not a field I have much experience with, as the last boardgame I bought was the Kickstarter for the Designer Edition of Ogre. But I have noticed a similar decline in what science fiction book collectors are spending. Still, the idea that boardgames manufacturers are close to $1 billion in debt is pretty staggering.
  • The Onion sold. “The Onion has a new owner: a company called ‘Global Tetrahedron,’ which is a real thing based on a fake entity invented by the satire site more than two decades ago….The Onion’s new owner is Jeff Lawson, co-founder and former CEO of Twilio, a customer-service software company, he announced Thursday on X (formerly Twitter).” When last we read about Jeff Lawson, he was dumping money on the Dem side in the 2020 Texas Senate race, to no effect. Now people are wondering whether they’ll shut down zombie SJW gaming site Kotaku…
  • Texas become first state to unban import of Japanese Kei trucks. (Hat tip:Ace of Spades HQ.)
  • Long lost first model of original USS Enterprise recovered.
  • “Man Sets Himself On Fire To Show How His Side Is The Sane And Rational One.”
  • “Columbia Protestors Clarify They Only Want Death To America After America Is Done Paying Their Student Loans.”
  • Live in Florida? Ron DeSantis would like you to adopt this cute border dog:

    (Hat tip: Ace of Spades HQ.)

  • Texas Election Roundup For April 23, 2024

    Tuesday, April 23rd, 2024

    If you thought “No runoffs in my area, so I don’t have to vote in May,” after the primary election, think again!

  • Come May 4, Texans in large counties have tax appraisal district director elections.

    Many Texans will have their first opportunity to elect representatives to the governing boards of their local appraisal districts, making the agencies that assess property values for tax purposes more accountable to citizens.

    A new property tax relief law, passed last year and approved in November by voters statewide, included a provision for voters in counties with a population of 75,000 or more to elect three new members to their county appraisal district board of directors.

    The three elected board members will serve alongside the five appointed directors and the county tax assessor-collector, who will become an ex-officio board member.

    Directors elected in May will take office on July 1 and serve a term that expires on December 31, 2026.

    Going forward, elected appraisal district directors will be on the ballot in November of even-numbered years and serve staggered four-year terms.

    The five directors appointed by local taxing units (counties, cities, school districts) that participate in the appraisal district will also transition to staggered four-year terms, starting in 2025.

    Property tax consultant Chandler Crouch, who has championed appraisal district reforms for years, told Texas Scorecard, “I believe the legislation that implemented these changes is a direct result of the trouble I’ve experienced and would not have happened if it weren’t for concerned Texans demanding change.”

    Crouch was targeted by his local Tarrant County appraisal district officials after helping thousands of residents protest their property taxes and calling attention to problems within the system.

    In the wake of several scandals, longtime Tarrant Appraisal District Chief Appraiser Jeff Law resigned last September.

    “Over the past few years I’ve seen plenty of corruption at the appraisal district. I believe the problems I encountered would have been dealt with much quicker if we had someone at the appraisal district that was directly accountable to the taxpayers,” said Crouch.

    In addition to adding elected appraisal district directors in the state’s 50 largest counties, the new law puts the directors in charge of appointing members to the appraisal review board.

    The appraisal review board (ARB) is the group of citizens that hears taxpayer protests and resolves disputes between property owners and appraisal districts. Currently, ARB members are appointed by the county’s local administrative judge.

    At least two members of the majority voting for ARB members must be elected directors.

    Any possibility for voters to check tax increases is a good thing.

  • As far as the Williamson Central Appraisal District Board of Directors election, information on these down-ballot races are quite sparse. The candidates are:
    1. Place 1: Hope Hisle-Piper and Jim Buell
    2. Place 2: Mike Sanders and Jon Lux
    3. Place 3: Collin Klein and Mason Moses

    According to this Facebook thread, Buell, Sanders and Klein are running a taxpayer-friendly slate, while Hisle-Piper, Lux and Moses are already appointed members of the board, using a loophole to run for the elected seats. Sanders asserts “If they win, each of them will then hold two positions on the Appraisal Board.” That hardly seems kosher. On that basis, I’m tentatively recommending a vote for Buell, Sanders and Klein, but if you have any countervailing information, please share it in the comments below.

    Note: Early voting for this election has already started and runs through April 30.

  • Travis County also has appraisal district elections, and Don Zimmerman, Matt Mackowiak and Bill May are the obvious choices for conservatives there (though less a vote for May than one against lifetime Democrat Dick Lavine).
  • Both Ted Cruz and Democratic opponent Colin Allred raised around $10 million for their senate race, but Allred has a much higher burn rate.

    The U.S. Senate race in Texas is shaping up to be an expensive bout between Sen. Ted Cruz (R-TX) and Congressman Colin Allred (D-TX-32), with both candidates posting high fundraising totals and the challenger burning through most of his haul.

    Both candidates announced close to $10 million raised in the April quarterly report last week. The two touted the fact that their contributions came from every — or in Allred’s case, almost every — county in Texas. The pair’s average donations were both around $35.

    Cruz reported $15.1 million cash-on-hand at the end of this period — which includes monies raised into the National Republican Senatorial Committee and the Texas GOP itemized for his race — to Allred’s $10.5 million left on hand.

    Cruz’s number is $2.7 million more than he raised in the first two quarters of 2018 combined. Allred’s haul exceeded 2018 candidate Beto O’Rourke’s first-quarter number by close to $3 million.

    Though he posted a record first quarter haul in 2018, the biggest money for Beto’s bid really started flowing in during the spring and summer following the primary; he raised nearly $80 million in that race, and narrowly lost to Cruz, who raised $45 million that cycle.

    Both Cruz and Allred have raised around half of their money in 2024 from within Texas, with big money figures and organizations on both sides of this fight salivating for another high-profile clash. More than 12 percent of Allred’s haul came from California to Cruz’s 32 percent from Virginia, the vast majority of which is due to the GOP’s small-dollar donor interface, WinRed, being headquartered there.

    The Democrats’ version, ActBlue, is headquartered in Massachusetts.

    One of the most interesting factors in these reports is Allred’s burn rate — the amount of money spent relative to what he raised. Allred has plenty of money left over, but he spent 96 percent of his haul, more than two-thirds of which was spent on media advertising.

    I would be lying if I said I was up to date on the latest campaign finance trends, but it’s universally acknowledged that a burn rate that high this far out from the general election is “bad”…

    …and that media buys this far out from the general are fools gold. Maybe Allred thinks he needs to get to the same level of name recognition as O’Rourke did in 2018, but that’s simply not possible. He’d need just as many fawning media profiles as O’Rourke got, and the national media is too busy ramping up the Orange Man Bad machine to do that. This time in 2018, I’d already seen a zillion Beto signs and bumper stickers, and I doubt I’ve even seen five for Allred. And, after all that money and name-recognition, Beto still lost…

    The latest poll on the race from the Texas Hispanic Policy Foundation — which pegged Allred down 5 points to Cruz — showed the challenger with a +24 net favorability rating to Cruz’s +3. However, Allred’s undecided total was 40 points, showing that there are loads of movable voters who could go either way on him; Cruz’s undecided number was 1 percent.

    Polls this early mean very little. But cash on hand is rarely overrated…

  • Can Brandon Herrera take down Tony Gonzales in the runoff?

    In his nascent bid for Congress, Brandon Herrera is putting two things to the test: embattled Congressman Tony Gonzales (R-TX-23), and the ability of next-generation politicians to overcome statements — and jokes — made on social media.

    Known popularly as “The AK Guy,” Herrera is a YouTuber boasting a large following whose schtick is firing cool guns and teaching his viewers about their characteristics and history. His X bio reads, “Congressional Candidate (R TX-23) YouTuber, Second Amendment Absolutist, VERY Politically Incorrect.”

    The field of Republican primary challengers pushed Gonzales to a runoff, with the incumbent falling 4.6 points away from winning the primary outright; Herrera received 24 percent of the vote, finishing a comfortable second place and securing a runoff against the incumbent.

    Now he’s the last man standing between Gonzales and a third term in Congress.

    But standing between Herrera and the upset is the very reason he has such a large following: his irreverent, and very entertaining, streaming persona. Herrera’s YouTube channel has 3.3 million subscribers and the pinned video is him testing out the “magic bullet theory” related to the JFK assassination — namely that the bullet attributed to the president’s death looks as if it didn’t actually hit anything, let alone a human being.

    But it was a different video that caught the attention of his opponent — and a national media outlet.

    “Rep. Gonzales’ right-wing GOP challenger posted videos featuring Nazi imagery, songs, jokes,” reads a headline from the publication Jewish Insider. The video in question is an informational on the MP-40 submachine gun, developed in Germany during the Nazi Third Reich.

    Discussing the gun, Herrera refers to it as “the original ghetto blaster” and then shows a sardonic black and white montage firing the weapon as the German military marching song “Erika” plays.

    “If the MG-42 was Hitler’s buzzsaw, the MP-40 was Hitler’s street sweeper,” he adds.

    At the end of the video, Herrera says of the sarcastic tone and jokes, “The best way to not repeat history is to learn about history. And the best way that I know to get you guys to learn about history, is make really f—– up jokes about it.”

    In acknowledging the “edgy” humor, Herrera unknowingly handed ammunition to his future political opponents — the effectiveness of which remains to be seen and a potential dagger that Herrera brushed aside.

    “Whereas before you have little statements that can be taken out of context or jokes that were made that would tank careers, it’s no longer that way,” Herrera told The Texan in an interview, suggesting the current political climate has passed the point of caring about such remarks.

    “One of the big catalysts for that change was the way that Trump ran his campaign. I think people related to him and people aren’t really afraid to see that side of elected representatives anymore.”

    About the potential shift, Herrera added, “[Candidates] don’t have to be as squeaky clean, and really, fake as they have been in years past. And I think we’re getting closer to an era of real people.”

    “Being representatives now, which I think is going to be a net positive because people are realizing it doesn’t matter what jokes have been made in the past, and it doesn’t matter if your congressman was caught swearing or something like that. People care about how you vote and I think that’s the core of it. And that should be what people vote on.”

    Is a post-Trump disdain for political correctness going to prevent it from being used on other candidates for edgy humor? Maybe. But a bigger problem for Herrera is that he came out of the primary 21 points behind Gonzales. That’s a large gap to make up, especially since Gonzales is out-raising Herrera. Absent dramatic developments, the vote and money gaps may be too big for Herrera to make up between now and May 29.

  • Speaking of gun policies for candidates, Ammo.com has a roundup of ratings.
  • Why Saudi Arabia’s Neom Is Doomed

    Sunday, April 21st, 2024

    I’m not sure I’ve mentioned Saudi Arabia’s Neom project before, the plan to build a 170km long, 500m tall linear city arcology in the northwest Saudi desert.

    As this Patrick Boyle video shows, things aren’t going swimmingly.

    Pitched in a mock “I think it’s a great idea, so please don’t Khashoggi me” tone, Boyle points out a few niggling problems with the entire concept.

  • “Neom The Line is a 170 km long city being built in the deserts of Saudi Arabia that was supposed to cost $200 billion to build. It’ll accommodate nine million people in a massive structure that is 200 meters wide and 500 meters tall. It’s conveniently located in an allegedly empty area of desert.”
  • It will have “all of the modern features that you would want, like an artificial moon, robot dinosaurs, flying cars, human gene editing and glow-in-the-dark sand.”
  • “The only abundant resources that a group of consultants could identify were sunlight and unlimited access to salt water.”
  • “Bloomberg reports that the Saudi Sovereign Wealth Fund cash reserves have fallen to $5 billion as of September, the lowest level since 2020, The Live City according to the latest reports, is now only expected to extend 2.4 km and house 300,000 people by the end of the decade. This is a 98.6% reduction from the initial plans. So it’s still going ahead, it’ll just be a little bit smaller than had been hoped for a while.”
  • “Building an unusually densely populated 170 kilometer long city that’s as tall as some of the tallest buildings in the world in what is described as a harsh dry desert with great temperature extremes strikes me as a great idea. Other people have not been as positive about these plans.”
  • Mohammed bin Salman (MBS) announced plans for Neom four months after being named Crown Prince successor to current king Salman bin Abdulaziz Al Saud.
  • “The project is being overseen and financed by the Saudi Arabian Sovereign wealth fun, which the Crown Prince also chairs. It was pitched as costing $200 billion, but upon reflection might cost a bit more than that.”
  • “Off the top of my head I can’t think of any other cities that are 170 kilometers long while only 200 meters wide and 500 meters tall. In fact, I struggle to think of any cities that are taller than they are wide.”
  • “Historically, skyscrapers have been built in very dense urban locations where the price of land is so high that it makes economic sense to build upwards to minimize the cost of the land per total floor area of a building.”
  • “I found a paper by Brinkley and Raj which explains that in open systems, perfusion guides form and growth. They explain that ecosystems grow as fractals, with new branches sprouting in order to maximize profusion and resource uptake. They go on to explain that most cities grow as fractals branching out maximizing the urban interface with available fuel and arable land.”
  • Of course, Neom has no fuel or arable land nearby. In Larry Niven and Jerry Pournelle’s Oath of Fealty, they argue that an arcology needs to be built near an existing city (in their case Los Angeles) to prosper.
  • “A long narrow city guarantees that inhabitants are always the maximum distance from wherever they need to go.”
  • Boyle examines the claim that you can travel from one end of Neom to the other in 20 minutes and has a little fun with math:

    To travel 170 km in 20 minutes, you’d have to be traveling at 510kmph, which is a bit faster than and the world’s fastest train. Of course, 510kmph assumes no stops along the way, which might be a bit inconvenient for people who live near the middle of the city. London Underground stations and New York subway stations are usually about a quarter of a mile apart from each other. [I believe Boyle is mistaken here, and London tube stations are closer to an average of a mile apart. -LP] 170km is 105.6 miles, so the line would need 412 train stops along the way subway trains usually stop and open their doors for at least 30 seconds at each station so with 42 stations the train would be stopped for 206 minutes allowing people to get on and off the train at the stations. 206 minutes is of course a bit more than 20 minutes, so people would need to get on and off the trains a bit quicker than that. If the train stopped for just two seconds at each station, the train would only be stopped for 14 minutes leaving us with six minutes to travel 170 km, so we would just have to travel at 1,700km hour which is a bit over 1,000mph. 1,000mph would, of course, be an average speed. There would have to be a lot of extreme acceleration and deceleration going on, meaning that the top speed would have to be well over 1,000mph. You’d have two seconds to get on or off a train that would quickly accelerate up to, let’s say, three times the speed of sound before slamming on its brakes for the next station.

    Enjoy the g-lock.

  • “The Line is going to be a fairly busy city. Nine million people will be living on a footprint of just 34 square kilometers, which is 13 square miles. Manila in the Philippines has the world’s highest population density with 119,600 people per square mile. Neom would have 686,000 people per square mile, which is almost six times the population density of Manila.”
  • The Wall Street Journal reviewed 2300 pages of documents put together by Consultants at BCG McKenzie and Oliver Wyman, the consultants were directed by MBS to help turn his idea into a reality. And the documents highlight that the project is so ambitious that it incorporates many technologies that don’t yet exist.”
  • “The Line is going to be 500 meters tall, which is about the same height as Taipei 101, which was the tallest building in the world when it was built 20 years ago at a cost of just under $2 billion. Taipei 101 is 75 meters wide, so you would need to build 13.3 of these for each kilometer. 2,270 of these buildings would equal just one wall of The Line. For both city walls you would need 4,540 Taipei 101s.”
  • “And that’s just the external walls. There’s still all the inner buildings, the hyperloop, the floating gardens, the autonomous flying pods and the artificial moon. Let’s not forget power plants, water desalination plants, airport, sewage treatment, human gene editing facilities, and everything else needed for a modern city.”
  • “The Line will have about half of the population of New York City, and thus should require around 5,000 megawatts of power per day. It might need a lot more than that, as water desalination is very energy intensive, and being based in the desert, people might want to run their air conditioners most of the time.”
  • “New York City requires hundreds of power plants to run, but gets around one third of its power from four nuclear power plants. Let’s say The Line is a very energy efficient city and can get by on one third of the power consumed by New York City. You would then need to build four or five nuclear power plants to supply that power.”
  • “Each power plant would cost between $6 and $9 billion, so we’re looking at $30 to $40 billion just for the power plants to supply electricity.”
  • “The 4,500 140 Taipei 101 buildings needed just as the exterior walls for The Line would cost $9.1 trillion dollars, assuming that construction costs have not gone up in 20 years, which they probably have. MBS was initially going to build all of this for $200 billion, which is less than 2% of the cost I’ve estimated for just the walls.”
  • Thunderf00t estimated the overall build cost of a city like this to be $100 trillion.” Thunderf00t also looked at the failure of all of Dubai’s land reclamation projects in the Persian gulf save the very first, none of which are remotely as ambitious as Neom.
  • I think you get the idea.

    Murdering the occasional jihad-friendly journalist aside, MBS actually has carried out some significant reforms (like sidelining the hardline Wahabbist clerics), but his pet Neom project is clearly 95% delusional. Despite which, they’ve already done fairly ridiculous amounts of earthmoving on the project.

    They are a few decent ideas among the delusions: It wouldn’t be a bad idea for the Saudis to incubate a tech sector, they get enough sun that getting into manufacturing solar panels to help plan for a post-oil future might be a viable option, and they probably should invest in desalinization plants to develop some agricultural self-sufficiency.

    But the idea of building the full Line is a delusional fantasy.

    Breaking: Iran Launches Drone Strike Against Israel

    Saturday, April 13th, 2024

    Not even sure that this is worth a breaking, since it’s drones rather than missiles or planes, but Iran just launched a drone attack at Israel.

    Iran launched a massive drone attack toward Israel Saturday night into Sunday morning local time, following through on its vow to retaliate against the Jewish state after several top Iranian commanders were killed in a suspected Israeli strike in Damascus earlier this month.

    The Israeli military estimates that the attack involves over 100 drones, which won’t arrive in Israel for another few hours. Some reports indicate that the airborne operation will also include missiles. This would mark the first direct Iranian attack on Israeli soil.

    On Friday, President Joe Biden said that Iran’s retaliatory attack against Israel was imminent and warned Tehran against carrying out the attack. “Don’t,” he said. U.S. officials believe the attack, once it hits Israel, will lead to a wider regional conflict that extends beyond Israel and Iranian proxies such as Hamas or Hezbollah.

    Airspace in Israel, Iraq, and Jordan have been closed as the attack unfolds. U.S. and Israeli officials said they plan on intercepting the Iranian drones before they reach Israel, according to reports.

    Early reports said “over 50,” now it’s “over 100,” and some Iranian sources say “500.”

    According to a Denys Davydov livestream, U.S. planes in Iraq have scrambled to shoot them down.

    It’s one thing to get drones past spread out Russian SAM systems, and quite another to get them past modern U.S. and Israeli aircraft, AWACS and Iron Dome.

    Iran claims ballistic missiles are on the way. We’ll see. Nazi Germany hit London with V2s back in 1944, so it’s not like the basics are out of Iran’s technological reach. Still, I wouldn’t expect anything more sophisticated than a SCUD, and it wouldn’t surprise me if Iron Dome could shoot those down as well.

    If it is just drones, it strikes me as more a performative strike than anything that will actually damage Israel. This was Iran gets to say “We struck back!” without actually committing serious assets.

    Livemap says “dozens” of rockets have been fired from Lebanon, which is honestly pretty by the standards of Hezbollah rocket attacks.

    Of course, Hamas isn’t launching any rockets, because they’ve contracted a terminal case of IDF.

    Developing…

    Update: Jordan has gotten in on the intercepting action.

    Update 2: Explosions in Damascus. It’s possible Israel has struck back before the drone even got there…

    Update 3: One missile hit the Negev and over 100 drones have been intercepted.

    Update 4: Boom!

    Update 5: Israel says that 99% of some 300 Iranian drones were intercepted. At least that’s 300 they can’t sell to Russia…

    LinkSwarm For April 12, 2024

    Friday, April 12th, 2024

    It’s been a week of petty frustrations, with simple things like paying for online transactions made impossible by websites that send out the wrong information despite the right information being on file. Speaking of frustration, Americans continue to be battered by high inflation, blacks continue to abandon Biden, and it turns out that the Pope might, just might, be Catholic after all.

  • Core inflation is up yet again.

    A hotter-than-expected consumer price index report rattled Wall Street Wednesday, but markets are buzzing about an even more specific prices gauge contained within the data — the so-called supercore inflation reading.

    Along with the overall inflation measure, economists also look at the core CPI, which excludes volatile food and energy prices, to find the true trend. The supercore gauge, which also excludes shelter and rent costs from its services reading, takes it even a step further. Fed officials say it is useful in the current climate as they see elevated housing inflation as a temporary problem and not as good a measure of underlying prices.

    Supercore accelerated to a 4.8% pace year over year in March, the highest in 11 months.

    Tom Fitzpatrick, managing director of global market insights at R.J. O’Brien & Associates, said if you take the readings of the last three months and annualize them, you’re looking at a supercore inflation rate of more than 8%, far from the Federal Reserve’s 2% goal.

    (Hat tip: Stephen Green at Instapundit.)

  • Speaking of inflation, welcome to $7 Tree.
  • Black voters continue to abandon Biden in droves.

    According to a Wall Street Journal Swing State Poll, blacks, especially black males are abandoning Biden in huge numbers.

    While most Black men said they intend to support Biden, some 30% of them in the poll said they were either definitely or probably going to vote for the former Republican president. There isn’t comparable WSJ swing-state polling from 2020, but Trump received votes from 12% of Black men nationwide that year, as recorded by AP VoteCast, a large poll of the electorate.

    That’s an 18 percentage point swing, minimum, for black males, if the national results and the swing state voting is similar.

    By confirmed, I mean those who said they intended to vote for Trump.

    The gap is even larger if we factor in undecided voters. Biden is down by a massive 30 percentage points vs 2020.

  • Biden may not be on the ballot for the Ohio general election because the Democratic National Convention falls too late to certify him.
  • Pope turns out to be Catholic, comes out against child genital mutilation.
  • “Nebraska state Sen. Mike McDonnell announces that he’s switching from Democrat to Republican.”
  • Country musician Jason Aldean refuses to let Biden campaign use hit song “Fly Over States.”
  • Good: A teacher helping her son with homework. Bad: A teacher helping her son force female students into sex trafficking. “Klein Cain High School cosmetology teacher Kedria McMath Grigsby is accused of helping her son, Roger Magee, force the troubled teens into prostitution.”
  • Man driving eighteen-wheeler interntionally crashes into DPS office in Brenham, killing one.
  • Hard evidence that temperature data is being manipulated to show global warming.

    Investigative science writer Paul Homewood last year discovered considerable tampering in 2022 with the recent CET record. He initially found that in version one, the summer of 1995 had been 0.1°C warmer than 2018. In version 2, the two years swapped places with 1995 cooled by 0.07°C and 2018 warmed by 0.13°C. Alerted to these changes, Homewood then analysed the full record from version 1 to 2, and the graph below shows what he found.

    As can be seen, the adjustments up to 1970 are small with ups and downs offsetting each other. Homewood then found that the years from 1970 to 2003 had been cooled markedly, followed by significant rises to 2022. Homewood concludes that “unfortunately it is part of a much wider tampering with temperature globally – and the tampering is always one way, cooling the past and heating the present”. Given that we now know that the Met Office has been using class 4 statistics for two thirds of its database since 2006, the recent higher adjustments would seem to call for clarifying explanations from the state-funded Met Office.

    (Hat tip: Boreptach.)

  • Ukrainian drone attack hits radar site 650km inside Russia.
  • Speaking of drones, China is supplying tens of thousands of drones…to Ukraine. I did not see that coming, but China certainly can use the money.
  • Texas Lt. Governor Dan Patrick lays out his legislative priorities for 2025.

    Lt. Gov. Dan Patrick has announced his interim charges for the Senate, a set of 57 issues he is calling on Senate Committees to investigate and research ahead of the legislative session next year.

    The list of charges runs the gamut of issues conservatives have called on the legislature to address, including property tax relief, protecting Texas land from hostile foreign ownership, and strengthening laws preventing electioneering by school districts and other political subdivisions.

    Some of the biggest reform proposals, however, have been reserved for higher education.

    Patrick has asked the Higher Education Subcommittee to study and make recommendations regarding the role of ‘faculty senates’, antisemitism on college campuses, as well as to review the implementation of a new state law banning DEI (Diversity, Equity, and Inclusion) in state universities that went into effect earlier this year.

    “The Senate’s work to study the list of charges will begin in the coming weeks and months. Following completion of hearings, committees will submit reports with their specific findings and policy recommendations before December 1, 2024,” said Patrick.

  • When you think Houston Democratic Congresswoman Shelia Jackson Lee has already said the stupidest thing she possibly can, she goes out and proves you wrong.
  • I know you’re shocked, shocked to find out that gun-grabbing opportunist David Hogg’s political group Leaders We Deserve spent way more on administration than backing candidates.
  • Thanks to New York City’s idiotic rent control laws, not only would a hotel guest refuse to pay rent or leave, but a court actually ruled that he was the owner of the hotel.
  • First class stamps are going up to 73 cents. Thanks, Joe Biden.
  • If the commies running Vietnam accuse someone of a crime, I don’t automatically trust them, but Truong My Lan may actually be guilty.

    Behind the stately yellow portico of the colonial-era courthouse in Ho Chi Minh City, a 67-year-old Vietnamese property developer was sentenced to death on Thursday for looting one of the country’s largest banks over a period of 11 years.

    It’s a rare verdict – she is one of very few women in Vietnam to be sentenced to death for a white collar crime.

    The decision is a reflection of the dizzying scale of the fraud. Truong My Lan was convicted of taking out $44bn (£35bn) in loans from the Saigon Commercial Bank. The verdict requires her to return $27bn, a sum prosecutors said may never be recovered. Some believe the death penalty is the court’s way of trying to encourage her to return some of the missing billions.

    The habitually secretive communist authorities were uncharacteristically forthright about this case, going into minute detail for the media. They said 2,700 people were summoned to testify, while 10 state prosecutors and around 200 lawyers were involved.

    The evidence was in 104 boxes weighing a total of six tonnes. Eighty-five others were tried with Truong My Lan, who denied the charges and can appeal.

    All of the defendants were found guilty. Four received life in jail. The rest were given prison terms ranging from 20 years to three years suspended. Truong My Lan’s husband and niece received jail terms of nine and 17 years respectively.

    Snip.

    By 2011, Truong My Lan was a well-known business figure in Ho Chi Minh City, and she was allowed to arrange the merger of three smaller, cash-strapped banks into a larger entity: Saigon Commercial Bank.

    Vietnamese law prohibits any individual from holding more than 5% of the shares in any bank. But prosecutors say that through hundreds of shell companies and people acting as her proxies, Truong My Lan actually owned more than 90% of Saigon Commercial.

    They accused her of using that power to appoint her own people as managers, and then ordering them to approve hundreds of loans to the network of shell companies she controlled.

    The amounts taken out are staggering. Her loans made up 93% of all the bank’s lending.

    According to prosecutors, over a period of three years from February 2019, she ordered her driver to withdraw 108 trillion Vietnamese dong, more than $4bn (£2.3bn) in cash from the bank, and store it in her basement.

    That much cash, even if all of it was in Vietnam’s largest denomination banknotes, would weigh two tonnes.

    Yeah, none of that seems kosher…

  • Memorial Hermann Hospital: No liver transplant for you!
  • How CD sales and rock music both collapsed in the early 21st century.
  • A very interesting O.J. Simpson story:

    (Hat tip: Commenter Kirk.)

  • Strange news from Russia: Chechnya has banned music that’s slower than 80 beats per minute, or faster than 116 beats per minute. Both the Russian and Chechen national anthems are slower than that…
  • “John Tinniswood of Southport, UK is now the world’s oldest man.
  • How a programmer managed to rip off casinos for years. It helped that he worked for the Nevada Gaming Control Board…
  • “New ‘Biden Diet‘ Sweeps Nation: Pay The Same Amount Of Money But Eat 50% Less Food.”
  • Vatican Reluctantly Sides With God On Gender Theory.
  • Adorable prison break.
  • Hit the tip jar if you’re so inclined.





    The Curse of Ghost Jobs Listings

    Monday, April 8th, 2024

    As I’m still looking for a job, this piece on ghost job postings is particularly irksome.

    The labour market is tightening – and it’s getting harder to find a job. In the wake of the Great Resignation, which drove more job vacancies than employers could fill, workers often had their pick of open roles. Now, they have largely lost their leverage among layoffs and budget cuts, and those open positions are increasingly rare.

    Still, roles do exist – or at least appear to. Job boards like LinkedIn and Indeed continue to advertise open positions, and workers are actively submitting applications. Yet despite an influx of highly qualified candidates, plenty of desirable job adverts have languished on digital platforms with an increasingly common label: “Posted 30+ days ago”.

    While the listings may be old, job seekers generally still assume companies are actively hiring for the roles. The truth is more complicated. Some of these are simply not-yet-removed adverts for jobs that have been filled – but some were never meant to be filled at all. These are ‘ghost jobs’, and they’re becoming an increasingly common – and problematic – obstacle for job seekers.

    Snip.

    Despite the influx of candidates, a staggering number of listings don’t result in hires. Revelio Labs, a US-based workforce intelligence firm, showed that the ratio of hires per job posting fell below 0.5 in 2023, meaning that more than half of listings did not result in an employer turning an applicant into an employee.

    Clarify Capital, a New York-based business loan provider, surveyed 1,000 hiring managers, and found nearly seven in 10 jobs stay open for more than 30 days, with 10% unfilled for more than half a year. Half the respondents reported they keep job listings open indefinitely because they “always open to new people”. More than one in three respondents said they kept the listings active to build a pool of applicants in case of turnover – not because a role needs to be filled in a timely manner.

    The posted roles are more than just a talent vacuum sucking up resumes from applicants. They are also a tool for shaping perception inside and outside of the company. More than 40% of hiring managers said they list jobs they aren’t actively trying to fill to give the impression that the company is growing. A similar share said the job listings are made to motivate employees, while 34% said the jobs are posted to placate overworked staff who may be hoping for additional help to be brought on.

    “Ghost jobs are everywhere,” says Geoffrey Scott, senior content manager and hiring manager at Resume Genius, a US company that helps workers design their resumes. “We discovered a massive 1.7 million potential ghost job openings on LinkedIn just in the US,” says Scott. In the UK, StandOut CV, a London-based career resources company, found more than a third of job listings in 2023 were ghost jobs, defined as listings posted for more than 30 days.

    It was bad enough looking for a job during the Biden Recession, and the ghost job listings just make things worse.

    Now you’ll have to excuse me. I have some job applications to fill out…

    LinkSwarm For March 29, 2024

    Friday, March 29th, 2024

    Lies trying to hide how bad the Biden Recession sucks continue to unravel, a mini Texas-vs.-California update, Ukraine makes another oil refinery go boom, true depths of human depravity, some Bill Burr and Critical Drinker links, and two tons of Murica. It’s the Friday LinkSwarm!

  • Dallas Fed manufacturing survey: “It’s A Far Deeper Recession Than Publicized.”

    Against expectations of a small improvement from -11.3 to -10.0, the headline sentiment gauge dropped to -14.4 (the lowest end of analysts’ forecasts).

    Furthermore, the production index, a key measure of state manufacturing conditions, fell five points to -4.1, a reading that suggests a slight decline in output month over month.

    Other measures of manufacturing activity also indicated declines this month.

    The new orders index – a key measure of demand – dropped 17 points to -11.8 after briefly turning positive last month.

    The capacity utilization index edged down five points to -5.7, and the shipments index plunged from 0.1 to -15.4.

    The decline in new orders came alongside a surge in prices as raw materials costs rose to 13-month highs…

    That has the stench of stagflation lathered all over it.

  • Also worse than reported: employment numbers. “Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000.”

    We first have to go back to December 2022, when we reported something shocking: as part of its data analysis of the “more comprehensive, accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages (QCEW) program”, the Philadelphia Fed found that the BLS had overstated jobs to the tune of 1.1 million! This is what the Philadelphia Fed wrote in its quarterly Early Benchmark Revision of State Payroll Employment report at the time:

    Our estimates incorporate more comprehensive, accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages (QCEW) program to augment the sample data from the BLS’s CES that are issued monthly on a timely basis. All percentage change calculations are expressed as annualized rates. Read more about our methodology. Learn more about interpreting our early benchmark estimates.

    So what did this “more accurate”, “more comprehensive” report find? It found that…

    In the aggregate, 10,500 net new jobs were added during the period rather than the 1,121,500 jobs estimated by the sum of the states; the U.S. CES estimated net growth of 1,047,000 jobs for the period.

    Lots of detailed analysis snipped.

    Putting it all together, we now know – as the Philly Fed reported first – that the labor market is far weaker than conventionally believed. In fact, no less than 800,000 payrolls are “missing” when one uses the far more accurate Quarterly Census of Employment and Wages data rather than the BLS’ woefully inaccurate and politically mandated payrolls “data”, and if one looks back the the monthly gains across most of 2023, one gets not 230K jobs added on average every month but rather 130K.

    Of course, none of that paints Bidenomics in a flattering picture, because while one can at least pretend that issuing $1 trillion in debt every 100 days to add 3 million jos per year is somewhat acceptable, learning that that ridiculous amount buys 800,000 jobs less is hardly the endorsement that the White House needs.

  • I think I link a story like this every year: “California Leads Among U.S. States Sending People to Texas in 2022. Florida and New York combined sent fewer people to Texas than California.” Leave any leftwing politics behind when you move…
  • California has a $55 billion deficit. But don’t worry, for the 24-25 fiscal year, it’s a $73 billion deficit.
  • Ukraine hits another Russian oil refinery, this time in Samara.
  • Russian network that ‘paid European politicians’ busted.”

    A Russian-backed “propaganda” network has been broken up for spreading anti-Ukraine stories and paying unnamed European politicians, according to authorities in several countries.

    Investigators claimed it used the popular Voice of Europe website as a vehicle to pay politicians.

    The Czech Republic and Poland said the network aimed to influence European politics.

    Voice of Europe did not respond to the BBC’s request for comment.

    Czech media, citing intelligence sources, reported that politicians from Germany, France, Poland, Belgium, the Netherlands and Hungary were paid by Voice of Europe in order to influence upcoming elections for the European Parliament.

    The German newspaper Der Spiegel said the money was either handed over in cash in covert meetings in Prague or through cryptocurrency exchanges.

    Pro-Russian Ukrainian oligarch Viktor Medvedchuk is alleged by the Czech Republic to be behind the network.

    Mr Medvedchuk was arrested in Ukraine soon after the Russian invasion, but later transferred to Russia with about 50 prisoners of war in exchange for 215 Ukrainians.

    Czech authorities also named Artyom Marchevsky, alleging he managed the day-to-day business of the website. Both men were sanctioned by Czech authorities.

    (Hat tip: Stephen Green at Instapundit.)

  • “Abbott says he needs ‘two more votes’ to pass school choice.” Presumably he’ll get those (and then some) in the May runoff.
  • $100M missing from Bay area trust fund management company. A Bay area father who counted on a local non-profit to handle a trust fund designed for his daughter’s long-term care feels duped.” And this is a trust for special needs kids.
  • Another dispatch from the decline of Charm City.

    The radical leftists in control of Baltimore City Hall have plunged the metro area just north of Washington, DC, into apocalyptic levels. We advise readers to entirely avoid the metro area as violent crime spirals out of control.

    Failed social justice reforms, defunding the police, and widespread mistrust of the police have resulted in a skeleton police force that will no longer be able to protect residents in some regions of the city.

    Fox Baltimore reported last Tuesday that only three police officers were on duty for the Southern Police District, which includes more than 61,000 residents.

  • Joe Lieberman, RIP. One of the least reprehensible Democratic senators of the last 30 years or so. But I still remember this:

  • Don’t click on this link unless you want to plumb the depths of human depravity. Noteworthy: “He and his husband.”
  • Flagstaff school board wants to parents to know they’re going to shove social justice down their children’s throats no matter what.
  • “GOP Delegates Adopt Resolutions Criticizing H-E-B CEO Charles Butt for Anti-School Choice Donations.”
  • Republicans file bill to strip money from woke medical schools.
  • Stellantis, AKA The European Monster That Ate Chrysler, just just laid off a whole bunch of white collar workers. Note their mention of focusing on “implementing our EV product offensive.” Oh yeah, they’re boned.
  • Speaking of EV layoffs, Ford is cutting down the staff of their F-150 Lightning plant to one third of what it was. The Lightning is enjoying a double whammy, in that people don’t want EVs, and Ford’s core customers can no longer afford trucks with an average selling price north of $80,000.
  • Florida Governor Ron DeSantis declares victory over Disney, as the latter has dropped their lawsuit over the the elimination of their special district status.
  • Sean Combs, AKA “Puff Daddy,” AKA “Diddy,” raided by the FBI. “A source close to the investigation told NBC News that the raid was connected to allegations of sex-trafficking and sexual assault and the solicitation and distribution of illegal narcotics and firearms.” “Source close” caveats apply.
  • The federal government is going to allow a shuttered nuclear power plant to be restarted. “The federal government announced that it would provide a $1.5 billion loan to restart a nuclear power plant in southwestern Michigan. NJ-based Holtec International acquired the 800-megawatt Palisades plant in 2022 with plans to dismantle it, but with support from the state of Michigan and the Biden administration, the emphasis has shifted to restarting the nuclear power plant by late 2025 instead.” Not wild about the loan part, but restarting America’s nuclear energy growth is long overdue.
  • Used Japanese homes are worthless Not just because of the shrinking population, but because they’re designed to be.
  • Bill Burr answers questions from the Internet.
  • The Critical Drinker is not impressed with the Road House remake. “The Patrick Swayze original wasn’t exactly peak cinema. It was dumb and over-the-top and silly, and I don’t imagine people were exactly crying out for a remake. But damn, man, it’s like Citizen Kane compared to this version.”
  • School tries to ban American flag from truck. Result: Two tons of Murica.
  • Twitch is cracking down on streams that “focus on intimate body parts.” After watching this, I have one question: Where exactly did the lady featured obtain her “automatic butt jiggler?”
  • Feel-good crime aftermath story:

    (Hat tip: Ace of Spades HQ.)

  • Hit the tip jar if you’re so inclined.





    Japan Ends Negative Interest Rates

    Monday, March 25th, 2024

    The Bank of Japan just ended 8 years of negative interest rates.

    Indeed, this is the first interest rate hike for Japan in 17 years.

    According to Keynesian economics, Japan should have experienced an economic boom from all that monetary stimulus. It did not. Prices were stagnant. Wages were stagnant. GDP growth was anemic.

    Japan spent more than 1.2 quadrillion yen in deficit spending trying to boost its economy, and all they have to show for it is a debt that’s over 200% of its GDP.

    Yet deficit spending remains the preferred policy solution of just about every damn country in the world.

    Back in the dim mists of time (i.e., the 1980s), Japan Inc. was going to take over the world. That didn’t happen either. Instead, the Japanese bubble, based in huge measure on wildly unsustainable real estate valuations (“At the peak of the bubble economy, Tokyo real estate could sell for as much as US$139,000 per square foot, which was nearly 350 times as much as equivalent space in Manhattan. By that reckoning, the Imperial Palace in Tokyo was worth as much as the entire US state of California.”) popped. There then followed three decades of economic stagnation.

    Many will point out that Japan’s shrinking demographics make it an economic outlier, but a whole lot of Western nations aren’t too far behind.

    You can’t deficit spend your way to prosperity, and attempts to do so end in disaster.

    Cuba Runs Out Of Money

    Tuesday, March 19th, 2024

    Margaret Thatcher said “The problem with socialism is that you eventually run out of other people’s money,” but Cuba appears to have gone them one better: Bad policies means that they’re now running out of their own money.

    ‘There is no money in the banks’: Cubans stand in line since dawn to cash their paychecks.

    “There is no money in the banks to pay people, everyone is upset and they haven’t even given us an explanation,” said Leydis Tabares, a Cuban who resides in Camagüey, to Martí Noticias this Friday.

    The problem is nationwide, said Cubans consulted from different provinces by our editorial team. The lack of cash in ATMs has caused state workers to be unable to withdraw the salary deposited onto their magnetic cards.

    “In Sancti Spíritus, queues start forming since dawn because by nine or ten in the morning there is no cash left. Some employees have had to wait up to 45 days to be able to withdraw,” reported independent journalist Adriano Castañeda.

    According to the journalist, the process of banking and the limitation of cash withdrawals is the cause of this crisis. “That system is a disaster,” he opined.

    “A general reform is needed in Cuba, of all kinds, social, political, and economic,” commented independent journalist Guillermo del Sol. According to him, many owners of private businesses in the country have stopped depositing cash due to the same restrictions imposed by the regime.

    “The money that Micro, Small, and Medium-sized Enterprises (MSMEs) deposited in the bank they couldn’t retrieve, so they stopped depositing money in banks. And since they are the ones carrying the weight of what little works within Cuba, the banks ran out of money. That’s what’s happening right now,” he explained.

    So even in communist Cuba, small and medium size business are what keeps the economy running, and the commies are destroying them by withholding their access to their own money. That’s some mighty fine management, Lou.

    In Guantánamo, the shortage of money for worker payment affects all sectors and is creating another type of business in the streets.

    “Some charge for making the long queues in the early mornings for employees. There are also people who have cash and charge a 10% fee to deliver the amount of money they have on the card,” commented independent journalist Anderlay Guerra Blanco.

    “When there’s an ATM with money, the queues are endless,” said opposition member José Rolando Cásares, who resides in Pinar del Río.

    Independent journalist Vladimir Turró explained that in the capital, there are even people who line up pointlessly because at dawn, the bank doesn’t supply cash to the ATM.

    “We’re talking about people who gather at banks, some even go to sleep at the ATMs, trying to get some cash, and so they spend days trying to withdraw money,” he said.

    The source of the problem (besides, you know, the communism) is Cuba’s push for a cashless economy.

    When Cuba in early August announced it was taking a major step towards electronic banking and a “cashless” society, the offices of fledgling small businesses across the communist-run country were left scrambling to figure out how to respond.

    Most alarming to many budding entrepreneurs was a new 5,000 peso ($20) daily cap on cash withdrawals for businesses, one of several measures the government said were aimed at forcing Cubans to do their transactions electronically, via transfer, online payment and bank cards.

    So commies limit bank access to a business’s own cash, and they’re shocked that businesses stop depositing it in banks.

    Lack of folding money isn’t the only economic malady befalling the Cuban people. Inflation is actually down, from an eye-watering 46% in the middle of last year to a still terrible 30%.

    Cubans are preparing for a new wave of inflation after the government last week rolled out details of an austerity plan that economists say will touch nearly every facet of the communist-run island’s already flailing economy.

    I guess the austerity plan means the usually tactic of just printing more money is off the table.

    The measures – which include price and tax increases and cuts in subsidies – will slow a soaring budget deficit forecast to exceed 18% of gross domestic product and set the stage for growth, according to Prime Minister Manuel Marrero.

    Authorities have already announced gas at the pump will jump nearly five-fold on Feb. 1. But some economists say less visible government price increases such as on wholesale fuel and moving freight, as well as sales and import taxes, are sure to ignite substantial hikes on most products and services at the retail level.

    “In economics, such prices are not increased in one area without affecting others,” Cuban economist Omar Everleny said in an interview in Havana. “And in general they are passed on to consumers. I think they will increase 400% to 500%.”

    Reuters spoke with several Cubans in Havana who said prices were already rising following the announcements and in anticipation of the price hikes – and were set to soar further in the coming weeks.

    Snip.

    Inflation was 30% last year, cooling slightly from 38% in 2022, according to the government. Many economists say those rates fall short of reality as the government does not adequately monitor a booming informal market pegged to an informal exchange rate much higher than the official one.

    In Holidays in Hell, P. J. O’Rourke talks about exchanging $480 for a gymbag full of cordobas in Sandinista Nicaragua. “You probably have to take economics over and over again two or three times at Moscow U before you can make cash worth this little.”

    Government officials have announced wholesale fuel prices will double next month, freight transportation will jump between 40% and 60% in March and for the private sector import duties will increase five-fold. Private companies will also be charged a new 10% sales tax on wholesale transactions.

    So prices are soaring, but people can’t get their own money out of the bank to make ends meet. So Cuba’s communist government has accomplished the rare feat of a liquidity crunch and soaring inflation at the same time.

    A very special kind of fail indeed.

    (Hat tip: The Other McCain.)

    Rufo On Rogan: Democrats Destroying Democracy To Save It

    Saturday, March 16th, 2024

    I haven’t reported much on the farce of Democrats tearing through the thicket of law to get at their great devil Donald Trump, mainly because it is such a farce, but here’s Christopher Rufo on Joe Rogan discussing how dangerous and anti-democratic their blood vengeance crusade is.

  • Joe Rogan: “How disturbed are you by what seems to be this acceptance that people have for prosecuting political opponents?”
  • JR: “Because to me, it’s, regardless of what you think about Donald Trump as a human being and the polarizing figure that he is, setting the precedent of trying your political opponents to somehow or another, either put them in jail, or make them seem like complete total criminals in a way that would, for the casual, for the person who’s not reading deep into the headlines.”
  • JR: “The casual Democrat that sees this Trump real estate thing that just happened, where he got fined $365 million. I’ve seen people argue ‘fraud is fraud and this is that and he’s a fraud,’ and then I saw Kevin O’Leary from Shark Tank explain this is what every real estate developer does.”
  • JR: “They say ‘My building’s worth $400 million,’ and then someone comes along from the bank, and they say ‘No, it’s worth $300 million. We’ll give you a loan on $300 million’ or whatever.”
  • Christoper Rufo: “It’s negotiation.”
  • JR: “People overvalue their property all the time. [Someone] has a house and it’s worth $700,000, they decide to list it as $900,000.”
  • Plus the lunacy of a leftist judge saying Mar-a-Lago is worth only $18 million, when a more realistic valuation is well over $1 billion.
  • CR: “We have a democratic system that favors Trump, in the sense that he won in 2016, he’s winning the primary right now for republicans in 2024.”
  • CR: “But you have a bureaucracy that is dead set against him. And the rhetoric amounts to a very odd claim. They essentially say: ‘We want to keep him off the ballot, we want to put him in prison, we want to bankrupt him so he can’t become the president, even if the people support him. We want to deprive the people of making the decision.'”
  • CR: “So you want to take it out of the realm of politics and into the realm of administrative justice or the criminal justice system, and adjudicate it in that way on bogus pretexts.”
  • CR: “Who actually rules in this country? Is it the American people who get to decide by their vote who represents them in the government? Or is it the permanent bureaucracy that has accumulated so much power?”
  • CR: “I’m of the mind that the people should decide, not the bureaucracy. And this is a contest where Democrats are saying essentially we have to destroy democracy in order to save democracy.”
  • Evidently there’s no undemocratic Rubicon Democrats won’t cross, no bridge they won’t burn, to destroy democracy in the name of saving it from Orange Man Bad.