Archive for March, 2009
To many ‘anti-war’ types, being proud of your country, if it is fighting, means you are a far-right neo-nazi or nearly so.
And there is some truth to the idea of needing to be proud of your country in order to die for it or to kill for it — few anti-war folk would do either.
Most anti-capitalists also harbor this type of anti-war view.
For non-Jews, living under Hitler and the National Socialist Nazis was far better than living under Stalin and the international socialist Communists.
Similarly, living under Catholic priest Slovak leader Tiso 1939-1945 was better for most Slovak Slovaks (not Slovak Jews) than was living under post-war CFR communism. But to speak this truth is to be called a Nazi.
Clay Shirky recently wrote about the death of newspapers, including the fact that those in the industry who were predicting the internet caused demise were mostly ignored and denied. The newspaper managers were denying reality:
“When reality is labeled unthinkable, it creates a kind of sickness…”
Political Correctness is sick.
Whether it is the reality that Germans have many reasons to be proud to be German, or that by any reasonable liberal measure (Judeo-)Christian civilization is far more humane and human rights respecting than other civilization, or that African Americans score lower on IQ (or SAT) tests, or that far more men than women are math geniuses … or any of a number of true things that are NOT Politically Correct — attempting to enforce PC is sick and is creating a sick reaction.
(via Michael J Totten)Read Full Post | Make a Comment ( 1 so far )
Americans are overpaid — because the success of globalization and free trade has enabled middle class workers from around the world to compete for the same jobs many Americans have. Same ability to do the work, willing to work for far less purchasing parity cash.
If America stays with free trade, Americans will make less money until much of the rest of the globalized work force catches up.
If America gets more protectionist, there will be retaliatory anti-American tariffs, so it’s very unlikely for average Americans to see economic advancement, and quite possible for there to be a Smoot-Hawley type trade contraction followed by a long depression. Until Americans are no longer overpaid, but are grateful (again) for jobs that pay similar to overseas jobs.
There are no good solutions to an oversupply of overpriced houses — nor of the oversupply of overpriced American workers. The gov’t should be strongly supporting new businesses and new entrepreneurs. But Obama hates such folk … too greedy.
(via Fabius Maximus and free trade talk)Read Full Post | Make a Comment ( None so far )
I’m ALL in favor of “financial imcompetance” excess bonus taxes, of up to 90% on all bonuses over the last 10 years over 100* last year’s median taxpayer reported income (around $40k? so over $4 mil.), starting at 10% on bonuses over $400k (10* median; also about 1 US President’s salary).
I think such usual clawback taxes should be part of all bankruptcy AND bailouts.
Only when their own assets are on the line will the managers be adequately risk-averse about getting bailout cash or going bankrupt.
I also think bonuses should be more vested over a 4-5 year period.
Pay caps for bailed out firms are also fine –Becker and Posner (against them) notwithstanding
(via Fabius Maximus)Read Full Post | Make a Comment ( None so far )