Scary Graph: The Billion Prices Project

Via the Big Picture:

The idea behind the Billion Prices Project is that we can track inflation by collecting prices from hundreds of online retailers around the world on a daily basis. Thus, the BPP currently monitors the daily price fluctuations of ~5 million items sold by ~300 online retailers in more than 70 countries.

That’s a pretty cool way to track real time inflation.

At the WSJ, Justin Lahart quotes Rutgers University economist Michael Bordo, who has reviewed the methodology: “It seems to me it’s a brilliant way of measuring the deep fundamentals of inflation.”

This is really cool.

I think this will be an interesting graph to follow over the next few months to see the effects of Obama and The Fed’s QE2.

By the way, I wonder what happened February 14th 2009?

EPA Going After Hydraulic Fracking

Pollution from lithium mining and toxic chemicals used to create Li-Ion batteries and solar panels the liberals love is not a problem for the EPA.

'green' lithium mining

However, if you are an oil or natural gas producer and want to utilize a technique that has been safely deployed in over one million wells without issue, the EPA wants to ‘talk to you.’

If you do not comply with their investigation, the EPA will use its subpoena power (and issue a terse press release) to force you to compliance:

The U.S. Environmental Protection Agency (EPA) today announced that eight out of the nine hydraulic fracturing companies that received voluntary information requests in September have agreed to submit timely and complete information to help the agency conduct its study on hydraulic fracturing. However, the ninth company, Halliburton, has failed to provide EPA the information necessary to move forward with this important study. As a result, and as part of the agency’s effort to move forward as quickly as possible, today EPA issued a subpoena to the company requiring submission of the requested information that has yet to be provided.

EPA’s congressionally mandated hydraulic fracturing study will look at the potential adverse impact of the practice on drinking water and public health. The agency is under a tight deadline to provide initial results by the end of 2012 and the thoroughness of the study depends on timely access to detailed information about the methods used for fracturing. EPA announced in March that it would conduct this study and solicit input from the public through a series of public meetings in major oil and gas production regions. The agency has completed the public meetings and thousands of Americans from across the country shared their views on the study and expressed full support for this effort.

Of course, there is no doubt the the EPA will issue a report labeling hydraulic fracturing (fracking) as a dangerous process.

Fracking is a common practice to releases oil and natural gas that previously was very difficult to recover. Via Vladimir’s Energy Blog:

Hydraulic fracturing, or “fracking”, has been used since the 1950s to stimulate oil and gas wells. The process involves pumping a sand-laden slurry into a well and subjecting it to enough pressure that the rocks in the productive formation fracture, or break. The purpose of the sand is to prop open the fracture, so it stays in place. The carrying fluid can then flow back out of the well, along with oil and gas if it’s been a successful frac.

Also from VEB, an interesting video illustrating how an oil well is created and how fracking is performed (at the 4:50 mark)

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The ironic thing is while we severely limit our own access to energy that we need to fuel our economy and create, you know, actual jobs the Europeans are actively working on developing their own natural gas reserves and protecting their economy.

Sarah Palin On QE2

Via Facebook:

Will QE2 then at least boost domestic investment? No, again. As I explained in my speech in Phoenix, the reason banks aren’t lending and businesses aren’t investing isn’t because of insufficient access to credit. There’s plenty of money around, it’s just that no one’s willing to spend it. Big businesses especially have been hoarding cash. They’re not expanding or adding to their workforce because there’s just too much uncertainty created by a lot of big government experiments that aren’t working. It’s the President’s own policies that are creating this uncertainty.

The President is an educated man. I would hope that he knows these things as well as you and I do. So why then, if he knows it won’t really boost our exports or our domestic investments, would he still come out in defense of this dangerous experiment? I think the most plausible answer has to do with the debt. As liberal economist Paul Krugman has explained, a little inflation goes a long way towards driving down the value of the enormous national debt Obama has run up. And the higher the inflation, the greater the likelihood he won’t have to take any of the tough decisions needed to bring the deficit back down. In other words, pushing inflation upwards means you can have your cake and eat it too. You can spend all you like and then make the bill disappear by driving down the value of the dollar – buying with one hand the debt your reckless spending is issuing with the other. No need to cut spending, folks, just run the printing presses. It’s a win-win scenario.

Or maybe not. Because I fear there will be plenty of losers if this really happens, not least the millions of Americans who’ll see the value of their incomes and savings eroded. As the chair of the President’s own Debt Reduction Task Force, former CBO director Alice Rivlin explained, this sort of policy is no good. Sooner or later – probably sooner rather than later – it will come back to bite us in the behind. Rivlin warned: “As our debt mounts, the risk grows that our creditors, especially foreign creditors who own half our debt, will lose confidence in our ability to get our house in order and will demand dramatically higher interest rates.” Obviously, that’s even more likely to happen when they figure out that the Fed is deliberately driving down the value of the dollars they already hold. When they do lose confidence, Rivlin explained, that will spell disaster for our economy, “derailing the economic recovery and ballooning the cost of servicing the federal debt.”

If the President was serious about getting the economy moving again, he’d stop supporting the Fed’s dangerous experiments with our currency and focus instead on what actually works: reducing government spending and boosting business investment through good old fashioned supply side reforms (cutting taxes and reducing overly burdensome regulations). Simply running the printing presses in order to avoid paying off your debts is no way for a great nation to behave.

American Liberals Want More Green Energy Funding While Europe Quietly Moves To Develop Real Energy

American Liberals Want More Green Energy Funding While Europe Quietly Moves To Develop Real Energy

According to some ‘Green Energy’ advocates, it really doesn’t matter how much of OUR tax money our government spends or how many projects fail its worth it.

The stimulus package has been one of the largest injections of government funds into green technology in U.S. history. But along with the benefits that tens of billions of dollars in funding brings — energy innovation, green jobs, the creation of green economy, and, in this case, the potential for reduced carbon emissions — there are also some very real and inevitable dangers.

That’s because high-risk startups, and even startups that originally don’t seem so risky, realistically have a small chance of surviving. So there will be a lot of public money that goes into failures. It’s just the nature of using government funding to boost innovation in a nascent industry. And now that much of the stimulus funds have been allocated, quite a few of these types of missteps are coming out of the woodwork.

Michigan has been pouring money into the bottomless green energy pit for years. All it has created is budget shortfalls and has not moved the unemployment rate.

If these ventures are so great and hold such promise why doesn’t the private sector invest in green energy? The truth is, they are money losers everywhere they are tried.

In Scotland, they created an elaborate (and expensive) green energy scheme that can’t reliably provide power to 87 people. China can’t make wind power pay for itself and in Germany, they spent $125 billion on a solar project that provides a meager 0.25% of their nations energy.

While Liberals in America are still fighting for the continuation of the head long charge into the green energy fiasco, many European countries are quietly developing real energy solutions that will protect and grow their economy.

Germany’s North-Rhine Westphalia state government last week said it had awarded exploration licenses to ExxonMobil and nine other firms including from Australia and Canada to search for the so-called unconventional gas.

Exploration technology for shale gas has improved dramatically in recent years, causing a gas glut in North America with knock-on effects for the global market.

As the hunt for new resources becomes cheaper and more promising, European countries such as Poland, Germany and, outside the EU, Ukraine, are embarking on shale gas searches.

Houssin said this made sense — while the U.S. imported less liquefied natural gas (LNG), leaving more for others, Europe was overcoming the recession, and Asia, notably China, had an insatiable hunger for energy.

“Gas demand has the potential to increase much quicker than supply, especially in China and India, and if the power sector is very much going to be based on gas (-fired generation), there may be a sharp increase in demand,” he said.

“Europe will have to compete with Asia for supply whether it is LNG or pipeline gas,” Houssin said. “In that context, if we had … important potential of unconventional gas in Europe, it would help diminish the pressure for imports.

Europe also wants to diversify away from key supplier Russia because of the chance of Russia rowing with transit country Ukraine over pipeline access and fees, as it did in the 2006 and 2009 winters, when this caused serious disruptions.

So remind me again why we should sink more tax payer money into failed green energy schemes.

Obama And The Printing Press

The Federal Reserver, with the full support of Obama, thinks that the best way eliminate the massive debt that our government has accumulated (and Obama has added to at a ferocious rate) is to inflate our way out of the problem.

Without truly understanding how the economy works, Obama is supporting a move that will only make our economic problems worse, not better.

Obama and his  crew should watch Milton Freidman explain inflation, why it should be avoided and how to grow the economy WITHOUT PRINTING MONEY.

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Make sense, doesn’t it?

Be sure to watch episodes one and two.

At Least Liberals Are Happy With Rick Snyder

I think I would be more comfortable with the idea of Democrat Andy Dillion as Michigan’s Treasurer if the Liberals at the Huffy-Po were a little less comfortable with the idea.

Most of Washington is working hard at sizing up the new state of the GOP by strutting and fretting over what side in the “Civil War” shall prevail: the establishment GOP that turned obstruction into an art form or the newly arrived “Tea Party” set that have campaigned on the notion that the United States is a hair’s breadth away from plunging into abject tyranny.

But there is another alternative! In Michigan, we have newly elected GOP governor Rick Snyder, who ran as an insurgent to establishment figures like Pete Hoekstra, all the while campaigning as a conciliatory optimist. And Ben Smith makes this pull from today’s Detroit Free Press, which finds that Snyder has begun matching deeds to words — appointing a political rival, Andy Dillon, to his team as the Michigan State Treasurer:

The appointment of Dillon, a Redford Democrat who also was a candidate for governor, was virtually unprecedented for a newly elected Republican governor. Snyder said it was proof that he really does want to govern differently to avoid partisan gridlock.

“I don’t worry about labels,” he said. “We all have a background of solving problems, and Michigan is in a crisis. We can hit the ground running to solve our problems. And the caliber of talent here is world-class.”

Labels are not the problem, Liberal ideas are the problem. Via M-Live:

“We have abandoned our responsibility in Lansing,” Dillon said told party leaders of the continuing cuts in the state budget. “The role of government is to provide a great quality of life, educate our kids and keep us safe in our homes. We need to begin investing in our state and in our people.”

‘Nuff said.

Monday Night Links: The ‘Vintage’ Star Wars Travel Poster Edition


About artist Steve Thomas:

I’ve been working for newspapers churning out graphics and illustrations for more than 10 years.

When not at my day job I try to come up with new and interesting ideas for illustrations. My love for vintage poster, propaganda and product art from the early 20th century and an interest in retro-futuristic art from the mid-20th has led me to create some great (I think) poster art. I mean, who doesn’t want to travel the solar system or join the fight against the villains of 1980s arcade games?

Be sure to check out the rest of the excellent posters.

Spellchek: End the Fed today!

Three Bills the GOP Must Pass to Get Off Probation

Be sure to check out the new Conservative Hideout 2.0 Information Center. Lots of great info in one place.

‘It’s Not Me. It’s You.’

Little known candidate we are all glad lost

There was a little known candidate up for election last Tuesday, his name was D’Artagnan Collier. He is no musketeer. In fact, if I had to name him something fictionally appropriate, I would have to go with Don Quixote.

Collier is an outright socialist. He was the candidate for the Socialist Equality Party in Michigan’s 9th House District, Detroit. And unlike Chris Coons, he is not afraid of his marxism, bearded or otherwise. Here is a quote from a post-election post he made to the World Socialist Website.

The results of the 2010 elections, in Detroit and Michigan, and indeed in every state and city across the country, express the complete political disenfranchisement of the population.

You can tell by his tone, the results didn’t go his way. Interesting how if you don’t win an election, it is because of the complete “political disenfranchisement of the population”. Might I offer my own reason? You freaking suck!

Stop Thief! Harry Houdini Steals Election!

Criminal Hair Cuts?

It Could Have Been Worse

Excellent Question: Party-Switching Senators? Do We Want’em and What’s the Price?

Left-wing Pundit Jumps the Shark: NPR’s Mara Liasson Compares Nancy Pelosi to… Sir Winston Churchill (video)

Better late than never (I guess)…Crist willing to consider Jim Morrison pardon before leaving office

*VIDEO* Andrew Klavan: Lies! Deceit! Treachery! You Too Can Be A Mainstream Media Reporter

Sarah Palin: QE2 will sink the US dollar

Sacrifice Is For Little People

Obama is asking us to make “sacrifices.”

Sacrifices such as higher taxes (due to his policies), higher inflation (due to his policies), higher unemployment (due to his policies) and more government spending (due to his policies). All of which are crowding out real economic growth.

Even though his policies are proven economic failures, Obama is sticking to his rigid and destructive ideology. Via The Hill:

“At a time when we are going to ask folks across the board to make such difficult sacrifices, I don’t see how we can afford to borrow an additional $700 billion from other countries to make all the Bush tax cuts permanent, even for the wealthiest 2 percent of Americans,” the president said. “We’d be digging ourselves into an even deeper fiscal hole and passing the burden on to our children.”

I particularly love Obama’s wealthiest 2%, $700 billion straw-man argument. Who’s stupid “Stimulus Bill” cost $900 Billion? Who’s “Health Care Reform” is going to cost all of us a fortune? Who stopped offshore oil drilling? Who is devaluing our dollar?

Speaking of inflation, have you noticed the price of gas lately:

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Meanwhile, as Obama and his liberal cohorts are plunging the United States into an economic black hole that will take decades to recover from, Obama is living it up like a king. Via the Daily Mail (UK):

Probably not since the days of the Pharaohs or the more ludicrous Roman Emperors has a head of state travelled in such pomp and expensive grandeur as the President of the United States of America.

While lesser mortals – the Pope, Queen Elizabeth and so on – are usually happy to let their hosts handle most of the security and transport arrangements when they venture beyond their home shores, the United States creates a mini-America on the move to ensure that nothing is left to chance.

Obama arrives in India at the start of a ten-day tour of Asia. At the heart of the White House caravan is ‘The Beast’, a gigantic, ‘pimped-up’ General Motors Cadillac which security experts say is, short of an actual battle tank, probably the safest road vehicle on the planet.

But an outlandish car is only the start. Mr Obama will fly, of course, on Air Force One, the presidential private jumbo jet, which, boasting double beds and suites, is fitted out more like a luxury yacht. Some reports suggest it costs around $50,000 (£31,000) an hour to operate.

Of course threats can come from any direction, so a squadron of U.S. naval ships will patrol offshore. Some reports have claimed that 34 ships, including two aircraft carriers, will be involved (not far off the size of the Royal Navy’s entire Surface Fleet) but the White House has denied this.

On land, as well as The Beast, Mr Obama’s entourage will travel in a fleet of 45 U.S.-built armoured limousines, half of which will be decoys. He will also travel with 30 elite sniffer dogs, mostly German Shepherds.

The White House has, according to some reports, booked the entire Taj Mahal Palace Hotel in Mumbai, the city’s most luxurious. It is not uncommon for the grander heads of state to reserve a floor or two, but a whole hotel is unprecedented. This hotel was the main target of the 2008 attacks by Pakistani militants which left 166 dead.

If it is so dangerous and the need for security is so great in Mumbai why go?

This whole excursion would be much more palatable without his calling for “sacrifice” from average American’s while he brings new meaning to the term “extreme vacationing.”

Remember the trips to Spain, Paris , Martha’s Vineyard and the endless rounds of golf? And who could forget their ‘date night’ in NYC?

As an added bonus, by staying home, Obama would avoid embarrassing himself.