Archive for July, 2008

Yet Another Reason to Cease Flying

Thursday, July 17, 2008 22:26 Comments Off

The pilots union for U.S. Airways said Wednesday the airline is pressuring pilots to use less fuel than they feel is safe in order to save money. U.S. Airways Captain James Ray, a spokesman for the U.S. Airline Pilots Association, which represents the airline’s 5,200 pilots, said eight senior pilots and the union have filed [...]

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Mortgage CEO May Have Committed Suicide

Thursday, July 17, 2008 5:01 Comments Off

Scott Coles, CEO of Mortgages LTD., is dead at 48. From the Times Online: Mr Coles sought to inject new capital into his business to offset the defaults, but he tried to raise fresh money in terms that undermined his existing investors. When some investors sought to withdraw their funds in April, they were refused [...]

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Once in a While a Politician Says Something Sensible

Thursday, July 17, 2008 4:51 Comments Off

I’m sure if I were to research this, I’d find that Jim Bunning’s voting record does not uphold the words he spoke during his question-and-answer session with Fed Chairman Ben Bernanke. I listened to this on Bloomberg, and found a short transcript at the Wall Street Journal. [L]et me say a few words about the [...]

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They’re Happy Because They Eat Lard

Wednesday, July 16, 2008 13:42 Comments Off

And they’re not fat because they don’t eat processed, packaged, sugary, refined foods and garbage beverages disguised as “energy drinks” or “healthy” drinks. From Nikoley comes this bit on oils. Lard is heroic. I love lard, and I love fat. This morning, I had the wicked combination of italian sausage and leftover ruby red rainbow [...]

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Government’s Imperial Flags Must Be Made in the USA

Wednesday, July 16, 2008 9:41 Comments Off

The 9/11 attacks caused an upsurge in demand for flags — the demand was covered by importing more flags from China. So now lawmakers, who realize they can’t possibly enforce a ban on Chinese-made flags, want to prevent those horrifying imports from being flown on federal property. Make another law! Meanwhile, there are state laws [...]

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Death Tax May Kill Off Rooney Ownership of the Pittsburgh Steelers

Wednesday, July 16, 2008 8:10 Comments Off

As a Dolphins fan (shhh, don’t tell anyone) who loves the Steelers and their legacy, I’ve been following this topic with interest for some time, and here’s an excellent, excellent (short) commentary in the Wall Street Journal. In the most simple sense, the author explains that: With the team’s value estimated at $700 million or [...]

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The Eager Investor Masses Demand That the Fed Create a New Bubble

Wednesday, July 16, 2008 8:01 Comments Off

Leave it to The Onion to mimic reality with its usual humor. To tell you just how fantasy-like things have become, on a private email list to which I belong, a financial Austrian (who was not previously aware of The Onion) actually queried the list about this article, asking about whether or not the article [...]

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What Can You Sacrifice for Your Country?

Monday, July 14, 2008 20:38 Comments Off

Roads, airports, bridges, fuel — a good patriot sacrifices his time, his pay, his consumption, his life, so that others can have what he earns….apparently, oppressive tax rates on savings, investments, and earnings just aren’t good enough.

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The Cold Stone Creamery of the Retail World

Monday, July 14, 2008 20:02 Comments Off

This is actually amusing. Here is a version for non-Wall Street Journal subscribers. Steve and Barry’s discount clothing chain is an exemplar of a credit bubble-induced failure. The 276-store chain, regarded just weeks ago as one of America’s fastest-growing retailers, now qualifies as one of the industry’s most unusual blowups. Its Chapter 11 bankruptcy filing [...]

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Bloomberg’s Caroline Baum on the FHA Expansion

Monday, July 14, 2008 18:50 Comments Off

Here she is again, daring to offend the rest of the media nitwits with her truth-seeking journalism. She writes about the expansion of the FHA homeowner welfare program that will enable more people to qualify for FHA-insured mortgages. Government interventionist policies are only concerned with short-term remedies, especially in an election year where politicians are [...]

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