Archive for July, 2012

HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): Financial Times: Jobless generation puts brakes on US. “Youth unemployment has reached crisis levels around the world, with almost 13 per cent of the global youth labour force out of work this year, according to the International Labour Organisation. But the problem has a unique flavour in the US, where the weak job market has collided with record levels of educational debt – about $25,000 for the average graduate. Together, they pose a threat to the future earning power of young Americans such as Mr Grzywacz – and could have long-lasting effects on US growth.”

Or maybe I should call this a higher education bubble update. Read the whole thing. And reader Harry Forbes writes: “The online edition does not have the scary loan debt growth chart that is in the printed edition. It is attached.”

I’m not surprised.

THE HILL: GOP Scrambles For Farm-Bill Votes. “Speaker John Boehner (R-Ohio) and his lieutenants, wanting to avoid an intraparty battle on a $957 billion five-year bill approved by the House Agriculture Committee, scheduled a vote on a one-year farm program extension that includes drought relief provisions. But aides and lobbyists closely monitoring the issue said Monday that unless something changes, it looks like GOP leaders will have to pull the bill.”

APOLLO MOON FLAGS still standing.

ED MORRISSEY: Rahm Emanuel, Chick-Fil-A, And The Easy Slide Into Fascism. “There is nothing wrong with boycotts by consumers, though they often tend to be ineffective. Still though, boycotts are perhaps the purest form of free-market political protests — entirely voluntary, with commensurate impact to the issue at hand on the business in question. But when governments demand political loyalty as a requirement to operate a business or live in a city, that has more in common with the 20th-century regimes that required business owners to have party cards and excluded anyone not considered loyal to the entrenched ruling class.”

MICKEY KAUS: Mayhem At GM: “This wasn’t supposed to happen until Nov. 7.” Plus, despite Obama’s promises, “Two years later, the Treasury still owns more than 26% of GM. The stock price of the dramatic administration success story is too low to sell without taking gigantic, embarrassing losses.”

JASON PYE ON THE CHICK-FIL-A BROUHAHA: Seriously, this is the most absurd fake outrage I’ve ever seen in my life. “Don’t get me wrong, I support gay marriage. However, I also believe in free speech. Sure, free speech occasionally comes with consequences — you have the right to say what you want, but you’d better be willing to live with it, but many of the people who have gotten on a soap box about this don’t exactly have their hands clean. As Conor Friedersdorf notes, Chicago Mayor Rahm Emanuel worked for President Bill Clinton and President Barack Obama at times when they opposed gay marriage. . . . If you’re expressing outrage at Chick-fil-A, why the hell were you not protesting President Obama before his ‘evolution’ on the issue just a couple of months ago?”

It’s not just important to have the proper ideas. You must have them at the proper time. Otherwise, you’re a fascist or something.

DON WATKINS: President Obama vs. My Grandfather.

Obama wants to wipe out the enormous difference between people like my grandfather, who succeed because they choose to think, create, work, and build—and those who don’t. In the president’s account, what makes us successful isn’t our intelligence, it isn’t our ambition, it isn’t in the end even the infrastructure: We all drive on the roads and go to school; we don’t all create a successful restaurant let alone a Fortune 500 company.

No, the real root of success is dumb luck. Some happen to get a lot from society, others happen to get a little. To borrow my colleague Harry Binswanger’s apt summary of Obama’s argument, “The only reason Joe Sixpack didn’t find the Higgs boson is that he didn’t happen to be provided with a large hadron collider.”

Heh.

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