Guided By the Heavy Hand of Government

Posted on July 26, 2013 by MN Gordon

Wednesday was one of the more hilarious days in recent memory.  President Obama gave a speech on the economy.  As a Reuters article put it, the speech “sought to inject momentum into his economic and domestic policy agenda.”

It didn’t.  Instead the speech reminded us what a jester the nation’s number one man is…

Certainly, there have been worse presidents.  Surely, there have been dumber presidents.  But never before has there been a president that was so doggone funny.

The mere glance at the man gives us a belly guffaw.  Yet when he opens his mouth we double over in sidesplitting laughter.  We howl in anticipation of the wicked punch line that never comes.  You know what we mean…

Obama’s reverse syntax and rhetoric is always smooth and polished.  Yet his substance is rutted and coarse.  The juxtaposition of two produces a comedic delivery even Steve Martin would be envious of.  What’s more, when speaking on the economy, the laughs reach a fever pitch. Continue reading →

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Detroit Bankruptcy Uncovers Disastrous Pension Fund Fudge Factor

Posted on July 23, 2013 by MN Gordon

Detroit filed the largest municipal bankruptcy case in U.S. History last Thursday.  Then, on Saturday, Helen Thomas bit the dust.  No doubt, both passing were long overdue.

As far as we can tell, the demise of Helen Thomas and Motor City has no direct correlation.  Nonetheless, in certain ways, they are both rich in consequences.

For five decades Helen Thomas had the best job in the world.  As Presidential Correspondent, she was responsible for peppering the President with questions he’d rather not answer.  Who wouldn’t relish the opportunity to wag their finger at the world’s top public servant and pour salt on their flubs and flaws?  Particularly Nixon and Obama…that must have been a hoot.

Thomas, unfortunately, stuck around long after she’d lost her marbles.  She could have gracefully exited stage left a decade – or two – ago with her reputation intact.  But instead she remained in the spotlight until May 27, 2010, when she made public utterances about Israelis and Palestinians that should have been reserved for private company. Continue reading →

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The High Point of China’s Economic Boom

Posted on July 19, 2013 by MN Gordon

Sometime in the early 1980s, goes the popular lore, Chinese leader Deng Xiaoping looked out across the vast people’s communes and pronounced, “To get rich is glorious.”

Suddenly, without hesitation, the people put down their rakes, walked off the farm production teams, and entered the factory.  Implausibly one billion people came together and focused like a laser on one single task…making stuff.  Within a generation every corner of the globe was flooded with a tsunami of plastic doodads marked Made in China.

After decades of self-sabotage, people were finally getting ahead.  Some bought refrigerators.  Others ate red meat.  The future was glorious.  Everyone just knew it.

Yet when the Chinese weren’t making stuff to ship overseas, they were making skyscrapers – and brand new cities – regardless of if people would occupy them.  By the start of the second decade of the second millennium the property boom had turned to an epic property bubble.  According to one analyst, China is “building somewhere between 12 and 24 new cities every year.” Continue reading →

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Your Summer Tax Increase

Posted on July 16, 2013 by MN Gordon

Oil prices are holding above $106 per barrel.  What gives?  Wasn’t all the oil fracking supposed to increase production and decrease price?

So far, part of this equation has come to be.  In fact, the Energy Information Administration’s weekly report, for the week ending July 5, shows the U.S. produced 7.4 million barrels per day.  That’s up 18.4 percent from just one year ago.  What’s more, it’s the highest level for U.S. domestic oil production in over 21 years.

So even though the price of oil remains stubbornly high, the combination of increased domestic production and increased energy efficiency is having many positive benefits for the country…

“The increase of oil production in the U.S. is reversely driving down the amount of foreign oil the country is importing from OPEC countries because the fuel is less needed,” explains The Daily Beast.

“Meanwhile, the U.S. is reducing its use of oil—thanks to more efficient vehicles, less driving, the use of natural gas as a transport fuel, and greater investments in renewable energy.  Total liquid fuel consumption in the U.S. declined by 2.1 percent in 2012, according to the EIA, and is expected to rise by less than 1 percent in 2013. Continue reading →

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