More Great Economic News: China’s Potential Economic Bubble

If you read Instapundit, you would’ve seen a link covering China’s potential economic bubble today:

The froth is going into property. Experts argue heatedly over whether or not China has managed to outdo America’s subprime bubble, or even match the Tokyo frenzy of late 1980s. The IMF straddles the two.

It concluded in a report last week that there was no nationwide bubble but that home prices in Shenzen, Shanghai, Beijing, and Nanjing seem “increasingly disconnected from fundamentals”.

If you have followed motorcitytimes.com and the Resistance.com, you would’ve known about this potential problem months ago. Actually, 8 months ago.

Via My Post @ The Resistance (March 31,2010):

China’s economy is almost entirely based on exports. Mainly exports to the United States. And with Obama and his Democrat henchmen working overtime to keep us economic crises mode, the Chinese economy is going to have a hard time hanging on and continuing to purchase our debt.

If this trend continues, we could be facing a tough economic road ahead.

It is also interesting that the Chinese are predicting our recession will continue until 2012. I wonder why that is.

Just thought I would point this out…

Sunday Night Quick Hits: The Best Space Pictures Of 2010


Awesome...

There are several more interesting pictures @ Nat Geo

The French Revolution and Communism

The American revolution was not a revolution in the usual sense. It was not an overthrow of one despotism and replacement by another. It was the principles that animated the Revolution and subsequently the nation’s founding that were revolutionary. More than 200 years of freedom and unparalleled prosperity are evidence of their validity. However, there are those who now question those principles, especially the limits that they impose on government. These same voices argue that the Founders did not face the same issues we face today, and therefore they, and the system they established, lack relevancy. The flaw in that thinking is that although circumstances may change, human nature remains the same. Ambition and the thirst for power are as prevalent today as they were at the time of our nation’s Founding.

Unemployment Numbers Released: Reuters Slips and Uses the “Un” Word

I blame global warming: Snow forces eight-day lock-in at Kirkbymoorside pub

Nancy Pelosi Argues for Tax Cuts*

*She just doesn’t know it.

Aurora Australis From Space

American Fascism

Lufthansa launches in-flight WiFi on intercontinental flights, ushers in ‘the future’

The carrier’s FlyNet service has been relaunched this week, and with assistance from Panasonic and the 802.11n gods that be, it’s now offering broadband internet access on intercontinental routes. At first, the service will be limited to select North Atlantic routes, but access should be available on “nearly the entire Lufthansa intercontinental network by the end of 2011.”

Some people have way too much time on their hands.

Jeb Hensarling: The Debt Commission was an “Adult Bipartisan Conversation”

Close up of sun spot

Fun Christmas Videos @ FCBZ

Twinkies–Enemies Of The State

Breathalyzers for EVERYONE

In vehicle breathalyzers used for those who might have been unlucky enough to be popped for drunk driving should be made mandatory for everyone. In fact, now might be the time to automatically impose hunting license fees when folks get their licenses, force child rearing courses on singles, and award pell grants for college tuition …to the dead.

Why not go further, and have doctors suggest chemotherapy.. just in case.

Why would we treat anyone different? Why would there be any reason? If we don’t identify the differences no matter how obvious, perhaps a sense of fairness would follow and ‘flowery good will’ shall follow?

How to keep your inventions from blowing up. It is simpler than you think.

Moonbow

Hollywood has Lindsay Lohan, the GOP has Lindsey Graham

@ MNR: Why, yes I did get a kick out of this.

Flatlining

About Those New Green Energy Jobs

When global warming fanatics are not warning of the imminent demise of our planet if we do not shift to renewable green energy, politicians and manufactures of green energy equipment are busily touting the millions of jobs that could be created.

If we continue subsidizing green energy equipment.

Via Crain’s Detroit:

Feed-in tariffs are intended to push development of a renewable energy industry. The boost to the consumer market draws in manufacturers, and that in turn draws in suppliers, proponents argue.

That clustering effect is why “game-changing” incentives for Michigan consumers are needed, Stephanie Burns, CEO of Dow Corning Corp., said during an October speech in Detroit. Incentives to attract solar businesses themselves, such as tax breaks, are not enough, she said.

U.S. global solar market share has dropped from 45 percent to 7 percent in 12 years, and “the world’s solar industry players consider the U.S. an emerging market,” Burns said.

———————————————–

The potential for job growth is explosive, said Mary Lou Benecke, Dow Corning’s vice president of public affairs. In the countries where Hemlock’s polycrystalline silicon ends up, employees are put to work getting the in-demand material into production.

Using the government subsidy model, politicians pander while corporations soak up subsides to implement their green energy schemes. Afterward, “we the people” are stuck with the bill in the form of higher taxes, higher electricity costs and higher unemployment.

One of the most famous studies of green energy performed in Spain shows that for every one heavily subsidized ‘green energy’ job created cost the private sector 2.2 actual jobs. The interesting thing is this will happen every time. Subsidizing anything, particularly something as economically fundamental as energy production, is a recipe for economic disaster.

As explained in, Chasing Rainbows by Tim Worstall, an Adam Smith Institute Fellow, the idea of creating additional jobs to replace energy that we now produce is an economic folly and counterproductive.

Via Chasing Rainbows:

Green technologies also seem to provide plenty of jobs. Exploiting renewables now employs 2.3 million people worldwide, more than the entire oil and gas industries, even though they contribute a small fraction of the amount of energy. They provide several times as much work per dollar invested than fossil fuels, with other green measures like recycling and saving energy proving even more job-intensive.

Geoffrey Lean, Daily Telegraph

That’s the sort of drivel that produces conniption fits in economists. For as every purveyor of the dismal science will point out, jobs are a cost of a plan, not a benefit. We are thus attempting to make everything that we do less job intensive, not more so. To welcome something as requiring more effort to achieve than another method of getting to the same end is nonsensical. To argue that using the labour of 2.3 million people to produce energy is a better idea than using the labour of 1 million, or three people, or 2.1 million or any other number lower than 2.3 million, is simply to be ignorant of the basic defining desire of all human beings: to get the most we can for the least effort.

This is only one of the gross misunderstandings of the real world that the various greens, Greens and environmentalists fall prey to. This book is about many of those misunderstandings: an attempt to point out where the courses of action proposed for us by those who would make the world better are diametrically opposed to the actual courses of action which would do so. A look at where the things we are told we should be doing are completely different from the things we should actually be doing in order to get to the desired goal. That goal, one I assume we all share, being a cleaner, richer, better in short, world for us and our descendants.

The idea that we are going to replace existing, efficient, reliable low-cost power with something that is less reliable, less efficient and more expensive is absurd.

As I have said before, only wealthy countries can afford to worry about the environment. Why do something that is going to make us poorer?

More Evidence That Government Should Not Meddle With Economy

If we in the United States want to avoid a lost decade (or longer) of economic stagnation similar to what Japan has endured, we need to let the markets work for themselves.

An economic study performed in the UK illustrates that, overall, an economy is better off allowing the markets to correct themselves rather than deploying economic ‘stimulus’ to “jump start the economy.”

Via the Adam Smith Institute:

What is interesting (and obvious) on this graph is how economic stagnation and sclerotic growth (think Japan) hurts the UK far more in the long run than a double-dip followed by renewed growth.

This is not just idle speculation either. There is a strong case for saying that efforts to prevent a double-dip recession (propping up failed banks, fiscal and monetary stimulus) prevent the market adjustments – liquidation of bad investments, restructuring of debt, reallocation of resources in line with changed consumer preferences, and so on – that make a return to strong growth possible.

Reflationary policies (as favoured by Keynesians and most monetarists, but not by the Austrian school) may spare the short term pain of a double dip recession. But if you take the long term view, are they really doing us any favours?

And here is a simplified illustration of the findings:

Of course, with the less government taxing, spending and inflation (printing of money) the growth curve (trend) would be steeper.

Censorship: FCC Commissioner Wants “Public Value Test” for Broadcasters

“Public values test” is just another name for “fairness doctrine” which is another name for censorship.

Via Tech Land:

That’s an idea being proposed by Michael Copps, one of the five commissioners on the FCC, who told an audience at the Columbia University Graduate School of Journalism yesterday that the current licensing system in the US should be replaced by what he calls a “public value test,” administered every four years.

Arguing that such a test would return us to “the original licensing bargain between broadcasters and the people: in return for free use of airwaves that belong exclusively to the people, licensees agree to serve the public interest as good stewards of a precious national resource,” Copps outlined what he would want to see tested: A substantial amount – ideally 25%, he said – of localized programming, which would result in what he called “a lot less streamed-in homogenization and monotonous nationalized music at the expense of local and regional talent,” as well as “meaningful commitments” to news and public affairs programming, which would include non-partisan political content, as well as evidence of a broadcast plan in the case of an emergency or disaster.

Michael Copp is completely Orwellian in his wording.

Member of German Parliament: “Barack Obama is not God, able to freely decide about life and death”

It was a campaign calling for change – to restore prosperity, create jobs, and cut taxes for the middle-class; to make health care and college more affordable; to invest in new energy sources, set a timetable to end the war in Iraq responsibly, and restore our standing in the world.

change.gov/learn/

It appears Obama isn’t doing much to restore our standing in the world. In fact, the “world” seems about as happy with Obama today as they were with President G.W. Bush in 2008.

Amazingly, Obama is even upsetting the Germans, who were very smitten with the guy only a few short years ago.

Obama reading a speech in Berlin

Today, it seems than many Germans are not quite as enthusiastic as they once were in supporting Obama. They are particularly unhappy with Obama’s Predator drone war and the killing of a German citizen (and suspected terrorist) in Mir Ali in Pakistan’s North Waziristan region on Oct. 4.

Wolfgang Neskovic, a member of German parliament is really unhappy with Obama. Via Der Spiegel:

‘Fire and Brimstone’

“Such attacks are happening outside the law,” says Neskovic. “International law does not provide any legal basis for the killing of suspected terrorists outside of a combat situation. … No intelligence service has the license to kill.”

According to Neskovic, if other countries adopted such a strategy, the entire world would become a war zone, with “American drones over the Brandenburg Gate (in Berlin) and North Korean drones over Washington.”

Neskovic reserves his strongest criticism for the American president, who he sees as being ultimately responsible for the drone attacks. “Barack Obama is not God, able to freely decide about life and death,” he says. “Nevertheless he behaves like an Old Testament God who kills people as he sees fit with fire and brimstone.”

Harsh.

Friday Night Quick Hits: T-Shirt Printed With 4th Amendment In Metallic Ink Edition

click for larger image

Brilliant idea:

They won’t find anything except for a challenge to their unwarranted searches.

The Fourth Amendment to the Constitution of the United States, meant to prevent unwarranted search and seizure, is readable on TSA body scanners.

I wish I thought of this one.

Obamanomics Continues to Fail: Unemployment “Unexpectedly” Jumps to 9.8% for November, Obama’s Approval Index Is at Minus 18 (video)

Tax cuts cost money? Huh?

It’s the same idiocy logic that is used with unemployment benefits. The left claims that those who receive benefits will spend it and thus boost the economy. Yes and no. Yes, of course they will spend it, they need it just to get by. No, it provides no boost to the economy. Impossible. It’s not new wealth being injected into the economy. These are just transfer payments moving tax revenues from one group of taxpayers to another. They are merely returning the money they received back into the economy. In fact it’s worse than that because we had to increase the debt to provide the benefits. There is no money left, so we had to sell debt to pay for it which must be paid back with interest so the net effect is a loss. Unemployment benefits are welfare pure and simple. We can debate the merits of them, but call them what they are.

Guess Who’s Paying For The Greece Bailout?…. Let me guess…

Toy robot detours traffic near Coors Field. All that chaos for this:

click for larger version

Boyfriend Uses Netflix to Exact Revenge on Cheating Girlfriend

Call it ‘Your Cheatin’ Queue.’ The disgruntled boyfriend posted a screen shot from his girlfriend’s Netflix account with the caption “My girlfriend cheated on me, so I rated movies in her netflix account until I reached the desired result.” As a result, Netflix now tells this woman that they think she’ll love watching ‘The Scarlet Letter,’ ‘Unfaithful,’ ‘Indecent Proposal,’ ‘Whore’ and ‘Slutty Summer.’ We’re not sure how ‘Bambi’ ended up in there (in the full-size image) — are we missing a hidden message in the classic Walt Disney family film?

Robot’s latest Automotivator… Click at your own risk.

Sources: Google-branded Chrome OS netbook to launch on December 7th

A Righteous Rant: Nigel Farage

Think how cold it could be without all that global warming…

Severe weather warnings remain in force across much of Wales, with forecasts warning that there is no thaw in sight.

The Met Office says outbreaks of sleet and snow will spread from the west during Friday night, with flash warnings for icy roads covering Wales.

While it will not be as cold overnight, there is a warning that the freezing conditions will return next week.

Overnight on Thursday, temperatures of -12C (10F) were recorded in Powys.

It has led mountain rescue teams and park wardens in the Brecon Beacons to urge anyone venturing into the hills to “think safe in the snow”.

Western area warden Jon Pimm said: “The Brecon Beacons looks like a picture postcard. While it is a real treat to be in the hills in these conditions, anyone out and about should be aware that special precautions need to be taken.

Looks downright balmy, doesn’t it?

10th Amendment is for losers

Nice move, econuts regulate small trucking companies out of business

Iconography

Michele Bachmann Has A Message For GOP Leadership

Michele Bachmann has a message for the GOP leadership, do what you were elected to do or you will have problem on your hands:

Rep. Michele Bachmann (R-Minn.) says GOP leaders must work quickly next year to repeal the new health care law or else face an “insurrection” from rank-and-file members.

Incoming House Speaker John Boehner (R-Ohio) and Majority Leader Eric Cantor (R-Va.) will face stiff opposition from within their party, Bachmann said, unless they make repealing health care a priority.

“If they don’t,” she told CNSNews.com, “I think there needs to be an insurrection here in Washington, D.C., against our own leadership, because that is the message that’s come loud and clear out of this election: a full-scale repudiation and rejection of the federal government takeover of private industry.”

Bachmann said she takes the leaders “at their word” for vowing to work toward undoing the health care law but warned them not to back down. “If decide they’re going to cave, or go weak in the knees, you will see members of Congress that will stand up against our leadership because we’re going to stand with the people on this issue,” she said.