Published on May 11, 2017
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During World War II, the Bismarck was the pride of the German navy – and the nightmare of Great Britain. It was enormous, overpowered, and a constant threat to the seas. So when they got word that the Bismarck had mobilized, the British raced to stop it.
June 17, 2017
Hunting the Bismarck – I: The Pride of Germany – Extra History
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Puerto Rico votes for statehood
Andrew Heaton discusses the recent vote by Puerto Ricans to apply for full statehood within the United States and why that might be a good thing for all concerned:
Puerto Rico voted to become a U.S. state this week. Needless to say, we should all be deeply concerned about the island’s engorged debt, destructive fits of socialism, and terrifying chupacabras.
But Puerto Rican statehood also represents a unique opportunity to reform American federalism. Accepting a new state with markedly different problems and programs means acknowledging that states aren’t interchangeable. We should welcome Puerto Rico and, while we’re redefining what constitutes our union, re-examine the power dynamic between Washington and the states.
Puerto Rico is a test case in one-size-fits-all solutions and federal intervention ruining an economy. The island has significantly lower income and productivity than the continental United States, but it is still subjected to a national minimum wage crafted for the mainland. That disparity squeezes entry-level jobs out of the market and ratchets up unemployment rates. The slumping job market is worsened by the fact that federal programs like food stamps, Social Security benefits, education grants, and disability payments aren’t pegged to local cost of living. In a region poorer than America’s poorest state, it’s not surprising that people would opt for generous federal handouts over scrambling for jobs the minimum wage hasn’t yet outlawed. Puerto Rico would benefit from an opt-out clause on the mininum wage — an option that should be available to all states.
Because Puerto Rico is an unincorporated territory and not a state, it’s more vulnerable to federal intervention. The Jones-Shafroth Act exempted Puerto Rican bonds from local, state, and federal taxes. The feds might as well have sprinkled cocaine and cronuts over the bonds. Investors bought dumpsters full of Puerto Rico’s sovereign debt, leading the island to further lurch into exorbitant deficit spending.
Federal trade laws also hobble Puerto Rican prosperity. The Jones Act prohibits foreign ships from moving goods between American ports. That means a foreign flagged vessel can’t stop at Puerto Rico on its way to or from the mainland, but must instead offload and reload goods at another American port so a more expensive U.S. ship can transport them. Peter Schiff explains: “Even though median incomes in Puerto Rico are just over half that of the poorest U.S. state, thanks to the Jones Act, the cost of living is actually higher than the average state.” The Jones Act would be a great issue to bring up when Congress deliberates on Puerto Rican accession. Abolishing it would benefit everyone, most of all Puerto Rico.
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“Probably the best example of our carny-barker economy is Tesla”
The Z-Man on the post-modern business models used by Amazon, Facebook, and Tesla:
The key for Amazon making it all these years was to keep people focused on everything but their financials. This is not an exception. Faceberg will never have earnings to justify its share price. In fact, it will never have user rates to justify its ad revenue. It’s not unreasonable to think that everything about the business is fraudulent. That should trigger large scale audits and investigations into its business practices, but Facebook is on the side of angels in the cultural revolution, so its all good.
Probably the best example of our carny-barker economy is Tesla. To his credit, Musk has built a real factory that builds real cars. No one is going to say the Tesla is a work of art or even a practical car, but it is a car and the technology is impressive. The trouble is the company does not exist to make cars. It operates as a tax sink, where government subsidies flow into it and some portion of those subsidies turn into payments to the principles in the form of stock repurchases, debt service and compensation.
This only works if people think the venture will either one day turn a profit or the technology that it creates will result in something good down the road. To that end, Musk is regularly out doing his Lyle Lanley act, making all the beautiful people feel righteous by backing his ventures. He’s also telling Wall Street that he will soon be making and selling enough cars to turn a healthy profit, even without massive tax subsidies. The trouble is, that’s probably never happening, at least not with current management.
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What Happens When You Take Steroids? – Earth Lab
Published on 8 Jun 2017
Have you ever wondered what happens to a human body when it takes anabolic steroids? Well, Greg Foot is here to explain all the science you need to know about steroids and why people use them for muscle growth.
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QotD: The Progressive comedy pause
Tell a joke to a liberal. Between your punchline and his laughter, there is a Progressive Comedy Pause. In this second or two, the liberal will process the joke to make sure he is allowed to laugh.
Is that joke racist? He mentioned Obama, but didn’t make light of him, so to speak. He also mentioned Michelle, but I didn’t notice sexism. Is it dismissive of the LGBTQIA community? Latinos? Muslims? Vegans? Will this joke hurt progressive causes? Will my laughter trivialize oppressed communities? Will I appear intolerant? I think it’s okay if I laugh. Yes, I’ll laugh now to signal my appreciation and to indicate that I’m not a joyless liberal scold.
“Ha ha.”
I first noticed the Progressive Comedy Pause while sharing my hilarity at office staff meetings. The majority would laugh but the committed lefties would stare blankly, each eye like that spinning wheel your smartphone shows while an app is loading. (The PCP might be why progressives just hoot and clap at Bill Maher’s jokes; the laughter reflex is considered problematic.)
[…]
It’s harder to laugh when you’re scared and much of the left is terrified. They know that an inappropriate chuckle, the wrong tweet, or last year’s term for an aggrieved minority can lessen their standing with progressive peers, if not get them fired from a job. Lefties also have turned the negative of humorlessness into the positive of moral superiority. Sniffing “That’s not funny!” at an inoffensive Caitlyn Jenner joke signals that you are more evolved than the average cis-het-white-oppressor. The same people who laughed at Dana Carvey’s “Church Lady” now aspire to be her.
Jon Gabriel, “Jerry Seinfeld and the Progressive Comedy Pause”, Ricochet, 2015-06-08.
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