March 12th, 2012
Apparently so. Fitch has downgraded Greece’s credit ranking to selective default. And all this despite the deed being all but done.
It turns out that Greece forcing haircuts on recalcitrant bond holders via the “Collective Action Clause” automatically triggers credit default swaps, the financial instruments that helped bestow such laughter and joy unto the world economy in 2008. There’s such a fine line between “bankrupt” and “solvent.”
But thanks to the rest of the EuroZone ponying up money to keep Greece solvent, Greece’s national debt will decline…from 120% of GDP, to a tiny, minuscule, almost-impossible to see 117% of GDP. In 2020. You know, the same year I’ll be enjoying a regular threesome with Olivia Wilde and Megan Fox.
But the bailout is accomplishing its primary goal: Keeping the whole thing from collapsing while Eurocratic insiders get to pretend everything is OK long enough to dump their losses onto taxpayers and continue to milk the rubes just a little bit longer.
And there’s already talk of another bailout being necessary before the ink on this latest batch of fiat Euros was even dry. A new record!
Tags: Euro, European Debt Crisis, Greece
Posted in Economics, Foreign Policy, Waste and Fraud, Welfare State | 1 Comment »
March 10th, 2012
You may remember my mention of EarthQuest, the projected Montgomery County “environmental theme park” that was going to be partially financed with public money.
Well, now comes word from Dwight that it is officially kaput. “No construction is planned; investors are nowhere to be found. Funding to EarthQuest consultants has stopped.”
Who could have possibly predicted that? Well, beside the blogger who wrote “the entire project has “money-losing rathole” written all over it,” that is…
Tags: EarthQuest, environmentalism, Houston, Texas, Theme Park
Posted in Texas, Waste and Fraud | 10 Comments »
March 9th, 2012
In the game of District 35 Chicken, Ciro Rodriguez decided that no, he didn’t want to face off against Lloyd Doggett’s 18-wheeler full of money and swerved aside. Instead he’s going to run against Republican incumbent Francisco “Quico” Canseco for the 23rd Congressional District seat Rodriguez lost to him in 2010. But before that, he has to get past State Rep. Pete Gallego, who has been running for the 23rd for months and tried (unsuccessfully) to warn Rodriguez off what is now likely to be a very bruising Democratic primary fight. (John Bustamante, son of yet another former Democratic congressmen, is also running, but with only $3,000 in his campaign coffers, I see no sign that he has gotten any traction, whereas both Rodriguez and Gallego have broken the $100,000 mark.)
Tags: 2012 Election, 35th Congressional District, Ciro Rodriguez, Democrats, Elections, Francisco "Quico" Canseco, John Bustamante, Lloyd Doggett, Pete Gallego, San Antonio, Texas, Texas 23rd Congressional District
Posted in Austin, Democrats, Elections, Texas | No Comments »
March 9th, 2012
The Texas Public Policy Foundation announced that legal scholar Richard A. Epstein was joining them as a Senior Fellow at the Foundation’s Center for Tenth Amendment Studies.
That’s a terrific pickup for them. Epstein is on a very short list of the very most important conservative legal scholars in the country. His book Takings (which, I must confess, I still haven’t read) is widely regarded as the most comprehensive legal exegesis of why the New Deal is unconstitutional. I think Epstein (like Mario Loyola and Ted Cruz) will find the Center for Tenth Amendment Studies an ideal place to further his research.
Congratulations to TPPF for a very solid addition to their already impressive array of scholars.
Tags: Mario Loyola, Richard Epstein, Tenth Amendment, Texas, Texas Public Policy Foundation
Posted in Supreme Court, Texas, Uncategorized, Welfare State | 1 Comment »
March 8th, 2012
Ohio Republican incumbent Rep. Jean Schmidt has been ousted by political newcomer Brad Wenstrup in the Republican Primary. Mark her down (along with Charlie Crist and Mike Castle) as another Establishment Republican taken down by the Tea Party. John Fund comes to the same conclusion on NRO, noting “votes to raise the debt ceiling and for the Wall Street bailout, support for the pro-union Davis-Bacon Act, and a record of supporting tax increases when she was in the state legislature.” Among the issues the Super-PAC Campaign for Primary Accountability (who spent $241,000 in advertising against her) cited in opposing Schmidt were her taking money from the Democratic Congressional Campaign Committee PAC in her first race for congress, her love of earmarks, and various campaign-related abuses of taxpayer money.
This is a safe Republican seat, so the replacement of a Washington establiushment Republican with a fresh conservative is a good thing. And, as Micky Kaus has noted, defeating wayward Republicans in primaries does wonders for keeping the others from wavering…
Tags: 2012 Election, Brad Wenstrup, Jean Schmidt, Ohio, Super-PAC, Tea Party
Posted in Uncategorized | No Comments »
March 8th, 2012
I wonder if Michael Williams is thinking about swearing out a stalking complaint against Roger Williams.
First Michael Williams dropped out of the Senate race to run for the newly created Congressional District 33 on June 17th. Then, a week later, Roger Williams did the same. Then at the end of July, Michael Williams switched from the District 33 race to the District 25 race. Now, in the wake of the redistricting decision, ensuring that 33 is going to be a “minority opportunity” district, Roger Williams is following Michael’s lead again, announcing that he’s switching from the District 33 to District 25 as well, which means we’re finally going to get that Williams vs. Williams showdown.
I’ve made my feelings about district-shopping and carpetbagger bids clear before. Roger Williams’ home of Weatherford is smack dab in District 12, currently represented by Republican incumbent Kay Granger. I can certainly understand not wanting to take on an entrenched Republican incumbent, but that still doesn’t justify district shopping.
That said, I think either Williams would make a solid Republican Representative.
Tags: 2012 Election, 25th Congressional District, 33rd Congressional District, Elections, Michael Williams, Roger Williams, Texas, Texas Senate Race
Posted in Elections, Republicans, Texas | No Comments »
March 7th, 2012
The latest Democratic Party filing information shows Daniel Boone no longer running for U.S. Senator, but rather running in the U.S. 21st Congressional District against the SOPA-loving incumbent Republican Lamar Smith. I’m not sure this is a good move for Boone, since I think he was at least as likely as Paul Sadler to win the nomination. Republican Charles Holcomb has also dropped out.
Conversely, a Grady Yarbrough now appears on the list of Democratic candidates. He appears to be a personal counselor [update: apparently not the same Grady Yarbrough; see comments] and his named is spelled differently than the late Texas Senator Ralph Yarborough, who helped transform the Texas Democratic Party from a majority conservative party to a minority liberal one.
I’ll update the candidate page tomorrow.
Tags: 2012 Election, Charles Holcomb, Daniel Boone, Democrats, Grady Yarbrough, Lamar Smith, Republicans, Texas, Texas Senate Race
Posted in Economics, Elections, Republicans, Texas | 2 Comments »
March 7th, 2012
The top ten search terms leading people to my blog today:
- dennis kucinich wife
- encrypted_search_terms
- mrs. dennis kucinich
- kucinich wife
- mrs dennis kucinich
- kucinich’s wife
- call girls (goes to a piece on Eliot Spitzer)
- hot wife
- kucinichs wife
- kucinich wife pictures
What can I say? I’m giving the people what they want.
Vox populai, vox dei
Tags: Dennis Kucinich's wife
Posted in Uncategorized | 2 Comments »
March 7th, 2012
Marcy Kaptur ended Dennis Kucinich’s congressional career last night, beating him in the Democratic Primary 60% to 36%.
There’s some talk of Kucinich moving to Washington State and running for congress there, but one wonders why Democrats there would feel inclined to elect a carpetbagger. He could try a Senate run, but after this year, the next Senate race in Ohio will be 2016. Barring another gadfly run for President, Kucinich’s national political career is most likely done.
On the plus side, that will give him more time to spend with his wife…
Tags: Democrats, Dennis Kucinich, Elections, Ohio
Posted in Uncategorized | No Comments »
March 6th, 2012
A “no-insight-just-the-facts” post, since I don’t have time to analyze the post-redistricting candidate filings right now:
Kenneth Sanders: District 6
David: Sanchez: District 26
Katherine Savers McGovern: District 32
Salomon Torres: District 34
Lloyd Doggett: District 35
Tags: 2012 Election, Democrats, Elections, Lloyd Doggett, Texas
Posted in Austin, Democrats, Elections, Texas | No Comments »