The Mighty Jingles
Published on 19 Sep 2017It’s Tiger Day once again at The Tank Museum in deepest, darkest Bovington! This time I actually managed to get there and I wasn’t disappointed…
The Tank museum: http://www.tankmuseum.org/home
September 20, 2017
Tiger Day VIII at The Tank Museum
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In the 60s and 70s, “Confederate Chic escaped the modern odium that often had been accorded the Lost Cause revisionism”
Victor Davis Hanson on the era when the progressive left embraced the “Lost Cause” imagery of the South:
Leftists love Johnnie Reb in movies and songs. But statues? Not so much. How exactly did the Left romanticize the Lost Cause Confederacy, and by extension its secession and efforts to preserve slavery? To use a shopworn phrase, “It’s complicated.”
Good Ol’ Rebels
Well before the end of Jim Crow, post-war leftist Hollywood still largely continued its soft mythologies of the Confederate Lost Cause. Perhaps the cinematic romance arose because of the lucrative fumes of earlier Gone with the Wind fantasies, which themselves might’ve come from an understandable desire to play a part in “binding up the nation’s wounds.”
[…]
The supposedly left-wing 1960s and 1970s, in fact, were the heyday of Confederate Chic. True, there were plenty of In the Heat of the Night portraits of the now-familiar racist white Neanderthals, but with the passage of the Voting Rights Act and the end of Jim Crow segregation, the romance of the Old South reappeared, updated and tweaked for the era of counterculture protest.
The contemporary hippie style of long hair, beards and mustaches, resistance to government authority, twangy folk-song strains, and hard-edged metal all fed into the rural, down-home Confederate romance. Notions of slavery, segregation, and secession mysteriously disappeared. Southern attitude was no longer Bull Connor but airbrushed Sixties-era resistance, at least at the superficial level of pop culture.
In Walter Hill’s post-Vietnam The Long Riders (1980), the murderous Jesse James gang morphs into a sort of mix of Lynyrd Skynyrd with Bonnie and Clyde — noble outlaws fighting the grasping northern banks and the railroad companies’ “Pinkerton Men.” David Carradine and his siblings, playing members of the gang, appear like Woodstock rockers, with exaggerated southern accents, long unkempt hair, hippie buckskin, and a don’t-give-a-damn Bay Area resistance attitude.
[…]
The unlikely common denominator that brought together left-wing Sixties popular culture with Confederate cool was a mutual hatred of a supposedly big, square, soulless, and powerful Washington, hated for its insolence in Vietnam and for stifling the individual — as if the poor lost South had been once as defenseless as the Vietnamese in the face of such a godless steamroller, or as if the Carradine clan were like the Allman Brothers with six-shooters.
Southern pop-music angst, hard metal, and crossover country and western channeled southern and Confederate themes, supposedly adding authenticity to mostly mainstream northern suburban American pop. Were rockers from the South popular versions of the 1920s and ’30s Southern Agrarians (“I’ll take my stand”) critics?
Few pop icons (but see Neil Young’s “Southern Man”) dared in the 1980s to suggest that southern chic was somehow blind to the racism of the Confederacy rather than just defiant and anti-government. The Allman Brothers, Lynyrd Skynyrd (“Sweet Home Alabama”), the Marshall Tucker Band, Charlie Daniels (“The South’s Gonna Do It”), Confederate Railroad (“Summer in Dixie”), and even REM squared the circle of grafting old-style Confederate attitudes with hip counterculture, even if superficially and often nonsensically.
In other words, Confederate Chic escaped the modern odium that often had been accorded the Lost Cause revisionism sweeping the country from 1890 to 1920, in part fueled by rising nativism and renewed commitment to Jim Crow.
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Intro to the Bond Market
Published on 12 Jul 2016
Most borrowers borrow through banks. But established and reputable institutions can also borrow from a different intermediary: the bond market. That’s the topic of this video. We’ll discuss what a bond is, what it does, how it’s rated, and what those ratings ultimately mean.
First, though: what’s a bond? It’s essentially an IOU. A bond details who owes what, and when debt repayment will be made. Unlike stocks, bond ownership doesn’t mean owning part of a firm. It simply means being owed a specific sum, which will be paid back at a promised time. Some bonds also entitle holders to “coupon payments,” which are regular installments paid out on a schedule.
Now — what does a bond do? Like stocks, bonds help raise money. Companies and governments issue bonds to finance new ventures. The ROI from these ventures, can then be used to repay bond holders. Speaking of repayments, borrowing through the bond market may mean better terms than borrowing from banks. This is especially the case for highly-rated bonds.
But what determines a bond’s rating?
Bond ratings are issued by agencies like Standard and Poor’s. A rating reflects the default risk of the institution issuing a bond. “Default risk” is the risk that a bond issuer may be unable to make payments when they come due. The higher the issuer’s default risk, the lower the rating of a bond. A lower rating means lenders will demand higher interest before providing money. For lenders, higher ratings mean a safer investment. And for borrowers (the bond issuers), a higher rating means paying a lower interest on debt.
That said, there are other nuances to the bond market—things like the “crowding out” effect, as well as the effect of collateral on a bond’s interest rate. These are things we’ll leave you to discover in the video. Happy learning!
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QotD: Government meddling stifles innovation in energy
It is unfortunately the case that government meddling on a global scale has massively distorted energy markets through pervasive subsidies, mandates, and price controls. The result is retarded innovation in the technologies of energy generation. A big first step toward renovating our energy supply systems would be to eliminate those impediments to understanding the real comparative benefits and costs of the production and use of energy. Ultimately, the better and far more effective way to ameliorate and avert future climate change is to mobilize human ingenuity through market processes to drive down the costs of no-carbon energy sources. Despite the constraints on innovation caused by government interference, notable advances in no-carbon energy generation technologies have already been made, ranging from innovative nuclear reactor designs to more efficient and cheaper solar panels. New technologies and wealth produced by human creativity will spark a vast environmental renewal in this century.
Ronald Bailey, The End of Doom: Environmental Renewal in the Twenty-first Century, 2015.
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