Quotulatiousness

March 19, 2020

“Millennial[s are] every bit as shallow, irresponsible, stupid, and smart-assed as” Baby Boomers

Filed under: Education, Randomness — Tags: , , — Nicholas @ 05:00

David Warren on the awful discovery that the kids not only aren’t all right, they’re just as bad as we are:

Unlike certain oldies, I have retained some awareness of the “young people.” Curiosity alone would drive me to this, although childbearing (not by me personally) has had the same effect. In my research, I have found the so-called Millennial generation to be every bit as shallow, irresponsible, stupid, and smart-assed as my own, and what is worse, younger. I thought we were the Peter-Pan generation that would never grow up, but the claim must now be shared with successive rounds of offspring. To be fair, the rewards for growing up have been sharply curtailed, through that part of history which anyone remembers, and those who never tried were never punished.

History itself has now so far receded — it certainly is not taught in schools — that by now the kids persist on pure theory. They do what seems necessary to them, in the absence of knowledge. I cannot reasonably blame them for lacking what they’ve never come in contact with, for no one can know about what he has never heard of. On religious questions, for example, what could “transubstantiation” mean? It was easier to explain this to a South Sea Islander, in the good old days of the missionaries, before the islanders got cell phones.

On the other hand, the Millennials are human. The instinct to be human, even when repressed, often returns. Several times I have been moved, almost to tears, by a native decency suddenly expressed, by the most unlikely subject in rings and tattoos. There will always be something to work with, there.

While Millennials appear even dumber than their elders, we must allow for the progressive slide. There are just as many smart people as there once were, and some abroad have benefited from improved nutrition. If caught young, and exposed to learning, they would learn. They simply haven’t been exposed to it yet.

February 14, 2020

QotD: Canadian youth

Filed under: Cancon, Politics, Quotations — Tags: , , , — Nicholas @ 01:00

Based on my own experience, people my age have no business deciding the future of this country. Obviously there’s the knee-jerk socialism inculcated by public schooling, and Canadian media. It seems to be a passing attachment, however, and is often shaken by getting a job, and realizing that earning money is hard work, and is remarkably unrelated to the unquestionably sordid practice of stealing from poor people.

More pernicious, and ultimately, in my view, far more dangerous — should my generation ever locate their polling stations — is a poisonous, systemic anti-Americanism. The young people I know hate the United States, and hate Americans. Many people have seen the infamous poll released last June which indicated that 40% of Canadian teens viewed America as “evil.” Many people were surprised by the results. So was I.

I thought the number was low.

The average youth voter, in my personal experience, has, at most, three political principles:

  • Equality is good. (Usually interpreted as equality of results… equality of opportunity is probably ‘racist’ and ‘greedy.’)
  • Everything is relative. “Good” and “Evil” are anachronistic terms devoid of meaning … they’re just, like, your opinion, man.
  • George Bush is the living embodiment of all that is Evil. He is, literally, the anti-Christ, and he feeds on the blood of puppies and minorities. Plus, he thought our Prime Minister’s name was Poutine.

Joel Fleming, “The Youth Vote”, Joel Fleming, 2005-01-06

January 21, 2020

QotD: “Safe spaces” do not produce strong people

Filed under: Education, History, Liberty, Quotations, USA — Tags: , , , — Nicholas @ 01:00

What, after all, is the effect of shielding people from contrary opinions by designating and maintaining, under color of law or regulation, “safe spaces” for this or that minority? Does it make them stronger? Better able to deal with a harsh world? Does it change that objective world to something less harsh? No and no and no; it does none of that. Do you gain grit in a safe space? Ha. Do you learn endurance in a safe space? Oh, please.

No, It merely makes of them mollycoddles, weaklings, and in some important ways barely or not even human. That’s the effect of a safe space, to render those who hide in them weak and ignorant.

There are things worse than the safe space, though. That only weakens your brain by making sure you never have to reason about or argue in defense of your beliefs. And, at least, this moral weakening and brain-deadening thing is voluntary. Much worse is the movement to restrict free speech and to manipulate speech for political ends. This does what the safe space does, of course, but a simple saunter down memory lane shows it does so much more. Want to starve ten or twenty or fifty million of your own people to death? Want to gas a few million members of a despised minority? Want to hack to death half a million countrymen? Job one is attack speech.

Don’t you find it odd that your teachers have led you away from any history that would tend to show you that destruction and perversion of free speech is generally followed by massive murder? Don’t you find it a little odd that they place offending someone as worse somehow than starving, gassing, or shooting them to death?

Tom Kratman, “It’s Up to You, Millennials. Deflect or Be Doomed”, Milo, 2017-12-06.

January 11, 2020

QotD: “Don’t ask, don’t tell”

Filed under: Government, History, Military, Politics, Quotations, USA — Tags: , , , , , , — Nicholas @ 01:00

As all right-thinking people know, Don’t Ask, Don’t Tell was a right-wing atrocity against gays, hatched in the pernicious seventy-two degree corners of the doubleplusungood and evilwickedbadnaughty Pentagon, fought against nearly to the death by progressives …

That’s not remotely what happened. Rather, the Uniform Code of Military Justice, as enacted by Congress, has long deemed Sodomy, which covered more than just homosexual conduct, as a criminal offense potentially carrying severe penalties. Moreover, the procedure for entering into service demanded that prospective recruits deny or admit to homosexual leanings, in writing, which admissions would usually bar the man or woman from service. Of course, back when the shame of being publicly homosexual was very great, people who wanted to join the armed forces simply lied about it and then, as a general rule, hid it while in service.

Liberal Democratic President Bill Clinton, acting in his capacity as Commander in Chief of the armed forces, simply ordered that prospective recruits were not to be asked if they were gay or had homosexual leanings, and were not to volunteer the information. That, young Millennial, is where DADT came from; it came from a liberal, liberally motivated, and pandering to his liberal base.

Did you know that? No? Well, then; ask yourself, WHY didn’t you know?

What the loss of history does to you, dear Millennial, is that it robs you of the ability to reason your way to cause and effect. Never mind the crappy to the point of idiotic decisions and programs this might lead you to support, consider what it does to you as a person. What, after all, is the effect of shielding people from contrary opinions by designating and maintaining, under color of law or regulation, “safe spaces” for this or that minority? Does it make them stronger? Better able to deal with a harsh world? Does it change that objective world to something less harsh? No and no and no; it does none of that. Do you gain grit in a safe space? Ha. Do you learn endurance in a safe space? Oh, please.

Tom Kratman, “It’s Up to You, Millennials. Deflect or Be Doomed”, Milo, 2017-12-06.

January 6, 2020

Gerontophobia – “the most acceptable, widespread prejudice in society today”

Filed under: Britain, Health, Media, Politics — Tags: , , , , , , — Nicholas @ 03:00

In Spiked, Ella Whelan discusses one form of prejudice that is not only common, it’s practically proselytizing for new members:

Have you found yourself grimacing at Zimmer frames on the bus? Do you revel in checking the latest census data to see the average age of the nation? Do you retweet sarky comments about “youthquakes” shaking out the old fuddy-duddies? If so, you might be suffering from gerontophobia – the fear and loathing of old people – which is the most acceptable, widespread prejudice in society today.

Ageism is the one “ism” that is given a free pass. Hating on granny is all the rage. Recently, former US president Barack Obama made headlines by talking about “old people … not getting out of the way”.

The 58-year-old is not the only older politician to turn against his age group. Since the Brexit vote, 76-year-old Vince Cable has been railing against older Leave voters. On a panel with me at the How the Light Gets In festival last year, he drew laughs from a Hampstead crowd for mocking Brexit as a “Zimmer-frame revolution”. The author Ian McEwan also denounced his fellow septuagenarians when he delightedly predicted that by 2019, “1.5 million oldsters, mostly Brexiters, freshly in their graves” could swing public opinion towards remaining in the EU.

The phrase “OK Boomer” went viral last year after a young person posted a clip of herself reacting to a “baby boomer” complaining about “snowflakes” and overgrown teenagers. This derisory response of “OK Boomer”, used to shut down the so-called Baby Boomer generation, was also used by Netflix in one of its social-media posts. It was even used earnestly in the New Zealand parliament by Green politician Chlöe Swarbrick in response to an older colleague.

The instant popularity of the phrase signalled how normalised generational divides have become. There have always been tensions between younger and older generations, but never before has there been so much celebration of youngsters deriding their parents. Rather than rebelling against the old and changing the world, the OK Boomer phenomenon shows how little young people want to interact with older generations, instead preferring petulant put-downs.

Perhaps the most pronounced and sinister ageism came from the wave of interest in Extinction Rebellion (XR), Greta Thunberg and the climate-emergency panic. From Thunberg being named Time person of the year after blaming older generations for stealing “my dreams and my childhood” to XR Youth proclaiming that “adults need to be accountable to the young people”, climate activism isn’t very oldie friendly. Instead of asking questions about what political changes might be made to help the planet, and, more importantly, the people living on it, environmentalism has veered towards a cultish celebration of youth. Fawning adults have handed over all moral authority to schoolchildren.

Greta Thunberg at the EU Parliament, 16 April, 2019.
European Parliament photo via Wikimedia Commons.

November 16, 2019

QotD: Millennials as barbarians invading our civilization

Filed under: Greece, History, Humour, Media, Quotations — Tags: , — Nicholas @ 01:00

Hannah Arendt is said to have remarked that civilization is always being invaded by barbarians we call “children.” I don’t like to put a dangerously hard-to-trace quotation in the newspaper, but I first heard this half-jest decades ago and its depth has only impressed me more every year. Whoever said it first was obviously pretty learned and subtle, even if it wasn’t Arendt. “Barbarians” is a Greek word for incomprehensible, gibberish-spewing foreigners, but one of the great discoveries of the Greeks is that of the barbarians’ point of view, and the additional idea that this point of view deserved equal esteem.

Every nation believes its own customs and habits are the best, Herodotus said, and you would have to be nuts to dismiss those prejudices as though they were somehow objectively wrong. (I grant that this is a free translation, but he said it, and it is one of the intellectual breakthroughs with which we associate the Greeks.) As with nations, so it is with generations. The formative experiences, inherited expectations, and learned fears of somebody born in 1985 are hardly less different from mine than a foreigner’s would be.

If I say that my attitude toward millennials is that they are barbarians, I am asking for trouble, but I must insist on being understood: it is only that they are persons whose habits, prejudices, and values are foreign, formed by a different set of events and influences — not that they are inferior. In the right mood I can even be persuaded that their actual knowledge is simply of a qualitatively different character, rather than simply being more meagre because they have lived less long.

Colby Cosh, “‘Millennial’ gets used as an insult. But millennials aren’t actually inferior”, National Post, 2017-10-25.

October 6, 2019

QotD: Modern middle-class “cosmopolitans”

Filed under: Education, Politics, Quotations, USA — Tags: , , — Nicholas @ 01:00

We must not sneer at Jennifer and Jason, many readers are sure to point out, for choosing IKEA. Their incomes, though high in the global scale, are likely to be lower than their parents’ were, and they often have to move in order to climb the employment ladder. It is only reasonable for them to buy something inexpensive, transportable, and replaceable. IKEA fulfills an important niche in the middle-class market — for cheap furniture that still retains a semblance of respectability. The company has exploited this market to become the global empire that Sweden never had, a kind of Viking revenge on the modern age.

Still, there is a good chance that Jennifer and Jason actually like their IKEA dressers, and prefer them to the old oak chest that their grandparents tried to foist on them. Indeed, the extraordinary popularity of IKEA testifies not only to its convenience but to its ability to appeal to the middle-class self-image. Jennifer and Jason are drawn to IKEA because it reflects who they are: they too are modern, movable, and interchangeable, their wants satisfiable in any neighborhood with a food co-op and a coffee shop. More fundamentally, Jennifer and Jason are untraceable, a “composite material” made from numberless scraps and pieces. They have a long catalog of home towns, and their accents are NPR neutral. They can probably rattle off the various nationalities in their family trees — Dutch, Norwegian, Greek, and Jewish, maybe some Venezuelan or Honduran for a little color. From these backgrounds they retain no more than a humorous word or phrase, a recipe, or an Ellis Island anecdote, if that. They grew up amidst a scramble of white-collar professionals and went to college with a scramble of white-collar professionals’ kids. Their values are defined mainly by mass media, their tastes adorably quirky but never straying too far from their peers’, and like the IKEA furniture that they buy in boxes, they too cut themselves into manageable, packaged pieces and market themselves online. They are probably “spiritual but not religious.” They have no pattern or model of life that bears any relation to the past before the internet. For all intents and purposes, they sprang up de novo in the modern city. Whereas the Veneerings’ high fashion covered over an essential vulgarity, Jennifer’s and Jason’s urbane style masks a hollowness.

It may be tempting to call Jennifer and Jason, and the the group of people whom they represent, “cosmopolitans.” (And indeed, IKEA, with its vaguely exotic Swedish names, provides a dash of cosmopolitanism on the cheap.) However, Jennifer and Jason are something newer and more bizarre than cosmopolitans: as Ross Douthat aptly pointed out in the wake of the Trump election, the increasingly insulated college-educated classes of the coastal cities do not grapple with real, substantive differences in beliefs and values, associating instead with cliques of like-minded classmates. In addition, classic cosmopolitans seek out what is best in others’ traditions while showing a fierce pride in their own — a Jordanian extolling the majesty of Petra, a Mexican diplomat breaking into lines of Octavio Paz, etc. Westerners like Jennifer and Jason show no such pride or attachment, instead leaping at opportunities to mock the foibles of their native lands.

Conversely, we must also avoid cheap epithets. The word “cosmopolitan” is a double-edged sword – long a shibboleth for worldly sophistication, it has lately turned upon its makers, serving as a political weapon against urban liberals; it is not surprising that a Trump spokesman recently attacked the “cosmopolitan bias” of a journalist who questioned the White House’s immigration policies. There is nothing particularly new or insightful about attacking urbanites tainted by association with the foreign, like the Judean exiles railing against the silken whores of Babylon. Still, as shallow and hackneyed as this rhetorical strategy might be, it packs a populist punch because the very concept of “cosmopolitan” is purely relative: since no one, legally speaking, is a citizen of the world, one can be “cosmopolitan” only in contrast to someone else – a “provincial” in the Victorian terminology, or a “xenophobe” in contemporary talk. In other words, the idea of cosmopolitanism carries an unavoidable subtext of class superiority.

Samuel Biagetti, “The IKEA Humans: The Social Base of Contemporary Liberalism”, Jacobite, 2017-09-13.

September 11, 2019

Environmental virtue signalling – it’s other people who need to change, not me

Filed under: Environment, Politics, USA — Tags: , , , , — Nicholas @ 05:00

Heather Mac Donald notes that, as with so many other things, young people who like to virtue signal about their environmental concerns don’t consider it incumbent on them to change … it’s always other people whose habits must be changed, by force if necessary:

FridaysForFuture Demonstration, 25 January 2018 in Berlin.
Photo by C. Suthorn via Wikimedia Commons.

The claim about youth’s transformative commitment to radical environmental change is — based on informal observation — bunk. The cardinal rule when it comes to environmental virtue-signaling is that people give up what they’re willing to give up. Young people are no different. If being environmentally sound required sacrificing anything that a self-described environmental warrior actually valued, the conversation would quickly change to a different topic. One’s own habits are necessary; it’s everyone else’s that need to change.

This always-unreached threshold for environmental sacrifice is particularly notable on the part of celebrity Greens, with their fortress-like SUVs, multiple residences, and massive carbon footprints — whether it’s the cavalcade of yachts and private jets that brought such luminaries as Leonardo DiCaprio, Mark Zuckerberg, and Katy Perry to Google’s three-day climate-change summit in Sicily this July; environmental crusaders Prince Harry and Meghan Markle jetting off to Elton John’s French estate; or Reliable Sources host Brian Stelter’s “quick day trip” to Los Angeles from New York just ahead of the CNN climate-change debate. A police caravan drives New York City mayor Bill de Blasio 11 miles from his mayoral mansion in Manhattan to his favorite gym in Brooklyn. “Everyone in their own life has to change their own habits to start protecting the earth,” he has intoned, but taking the subway is not one of those changes appropriate for him.

Most young people have not yet reached such a flamboyant level of energy use, but if they could, they undoubtedly would, with as little sense of anachronism as that of Al Gore in his energy-guzzling mansion. These are the consumers who keep football fields of computer servers buzzing round the clock to support their social media habits. If being green meant turning off one’s phone for 22 hours a day or foregoing the latest smartphone upgrade, the reasons why such sacrifices are not required would spout from every Gen Z-er and millennial’s lips. Students from the University of California, Irvine, constantly run their air-conditioners in the apartment complex where I spend summers, regardless of how cool the temperature outside is. They drive with their windows sealed and the car AC on, no matter how fresh the day (this is the new driving norm for almost everyone now). The meteoric rise of food-delivery apps, producing torrents of plastic and paper waste and a constant circulation of cars and electric bikes, has been fueled by young people’s demand for convenience and instant gratification. Cooking is apparently unthinkable. At best, one buys precut and washed food in the inevitable plastic containers. A daily Starbucks habit is deemed consistent with railing against environmentally destructive corporate greed.

New York’s tap water is among the purest in the world. Yet a young neighbor of mine in New York, like progressives throughout the city, receives towering deliveries of bottled water, entailing huge energy outlays to package and transport, not to mention generating flotillas of discarded plastic. The swim team members in my gym turn on their showers in the locker room, then walk away or do nothing other than chat as water gushes down the drain. Uber drivers in college towns report that students regularly call a car to get to class, rather than walk or ride a bike.

September 10, 2019

QotD: Mere words are not “violence”

Filed under: Education, Liberty, Politics, Quotations, USA — Tags: , , , — Nicholas @ 01:00

“I’m very concerned about a phenomenon called ‘concept creep’ – which has been happening to a lot of psychological terms since the 1990s”, he says. “When a word like ‘violence’ is allowed to creep so that it includes a lot of things that are not violence, then this causes a cascade of bad effects. It’s bad for the students themselves because they now perceive an idea that they dislike, or a speaker that they dislike, as having committed a much graver offence against themselves – which means that they will perceive more victimisation of themselves. And it’s also really bad for society because, as we are seeing in a spectacular way in the United States this year, when each side can point to rampant occurrences of what they see as violence by the other side, this then justifies acts of actual physical violence on their side. And there’s no obvious end to this mutual escalation process.”

He adds: “Everybody involved in education needs to be dampening down violence and the acceptance of violence. Telling students that words are violence is counterproductive to that effort.”

Jonathan Haidt, quoted by Naomi Firsht, “The Fragile Generation”, Spiked, 2017-08-31.

July 18, 2019

QotD: “They might speak English, but they don’t speak Western”

Filed under: Books, Education, History, Media, Politics, Quotations, USA — Tags: , , , , , — Nicholas @ 01:00

[Responding to a photo of a protest sign labelled “Dumbledore wouldn’t let this happen“] I swear, it’s all you ever see from them.

But something happened to me last night, I had a kind of realization. It suddenly hit me WHY that is.

It’s because Harry Potter is literally all they collectively know.

Schools don’t teach history anymore.
They no longer teach the canon of Western literature.
They certainly don’t teach the Bible.

So Millennials literally have no points of common reference. It’s not that they all just want to look like complete morons by infantilizing their political metaphor to the level of a children’s book, it’s that they have no other choice.

They’re literally bereft of the allegorical language of the West. I’m sure there’s some Harry Potter monster analogy I could use to explain it to them, how it’s like monsters have come along and literally stolen their ability to speak, their common language, and their birthright.

They can no longer express or understand the set of references we have from our past, our most prized stories, and our culture’s religious quotations. They can’t do Shakespeare, Milton, or even Mark Twain because they’ve never learned any of these while they were being taught Indonesian multicultural dancing and given participation awards. They don’t know what happened at Hastings in 1066, at Runnymede in 1215, or even at Sarajevo in 28th June 1914, because they were being given feminist diversity training instead of learning the history of their civilization. They certainly don’t know what “the least of these” refers to or where it comes from, as a recent event with a White House staffer proved.

They’ve lost the entire allegorical language of the West. They might speak English, but they don’t speak Western. To them, it’s like a foreign, dead, alien language. A set of stories they do not know.

RPGPundit, “Harry Potter and the way Millennial Leftists Don’t Even Speak Western Anymore”, The RPGPundit, 2017-02-02.

July 7, 2019

Cancelling student loans would be a really, really bad economic move

Filed under: Economics, Education, Politics, USA — Tags: , , , , — Nicholas @ 03:00

Art Carden explains why cancelling outstanding student loan debt — despite its huge popularity on the campaign trail — would be a very bad idea:

University College, University of Toronto, 31 July, 2008.
Photo by “SurlyDuff” via Wikimedia Commons.

It’s one of the rules of electoral success: advocate policies that concentrate the benefits on an easy-to-identify interest group (preferably one that is sympathetic in the public eye) and disperse the costs onto the entire electorate. It’s how we get Coke sweetened with corn syrup rather than actual sugar. It’s also how we get proposals to cancel student loans. As my AIER colleague Will Luther points out, the fact that two of the Democratic frontrunners have made debt cancellation such an important part of their campaigns suggests that the issue is going to be with us for a while.

But would it be a good idea to cancel student debt? And importantly, how does even the prospect of canceled student debt affect people’s incentives?

Regressive Tax

First, let’s consider the quality of the policy. A lot of commentators are pointing out that it’s fundamentally regressive, meaning that we’re basically taxing the poor to pay the rich. As economist Alexander William Salter puts it in the Dallas Morning News, it’s

    a transfer of wealth to those with relatively high levels of expected lifetime income, at the expense of those with relatively lower levels of expected lifetime income.

The idea might have some merit, but it will make wealth and income inequality worse rather than better.

Even saying that the idea might have some merit is perhaps too charitable. In 2011, economist Justin Wolfers called it the “Worst. Idea. Ever.” in a Freakonomics post. Why? First, there’s the distributional effect. If we’re going to have policies that transfer wealth from one group to another, it doesn’t make much sense to transfer wealth from taxpayers generally to high-income college graduates. As Will Luther and so many others have pointed out, a college degree brings spectacular financial returns. As a group, college graduates aren’t “needy” by any reasonable definition.

July 3, 2019

QotD: Elon Musk as a modern-day Ferdinand DeLesseps

Filed under: Business, Law, Quotations, USA — Tags: , , , , — Nicholas @ 01:00

I used to love Elon like everyone else. I still think that having four or five billionaires in a space race against each other is finally the world I thought I was going to get growing up reading Heinlein. The Tesla Model S was probably one of the most revolutionary cars of the last 50 years. But he lost me when he committed outright fraud in the Solar City – Tesla deal and since then have only become more skeptical about he and Tesla.

Elon Musk at the 2015 Tesla Motors annual meeting.
Photo by Steve Jurvetson via Wikimedia Commons.

I sort of laugh when folks tell me that really smart successful rich people believe in Tesla. You mean like James Murdoch, on the board of Tesla and who also was lost his entire investment in Theranos? Or like Larry Ellison, an adviser and fan of Elizabeth Holmes who invested $1 billion in Tesla just 6 months ago and has already lost 40% of it? The window on this is probably closing, but over the last 10 years if you wanted to get Silicon Valley investors to throw a lot of money at you, find a traditional bricks and mortar business and devise a story in which you take that industry and convert its economics to that of the networked software world (see: Uber, WeWork, Tesla, and even Theranos in some of its strategic pivots).

Or how about true millennials and Elon Musk? Name a wealthy millennial supporter of Elon Musk and Tesla and I can bet you any amount of money they have not looked at Tesla’s balance sheet or cash flow or the details of its global demand trends. They have not thought about its dealership strategy or manufacturing strategy and the cash flow implications of these. They just like what Elon says. It sounds big and visionary. They buy into Elon’s formulation that he is saving the environment and everyone opposed to him is in a cabal with big oil (ignoring the fact that Elon routinely uses his Gulfstream VI to commute distances less than 60 miles). So saying that rich millenials adore Elon is effectively saying that they want to be associated with the same things Elon says he is for — the environment and space travel et al.

Elon Musk is Ferdinand DeLesseps. He is PT Barnum. He is Elizabeth Holmes. He is the pied piper. He is fabulous at spinning visions and making them sound science-y. But he is not Tony Stark. There is a phenomenon with Elon Musk that everyone thinks he is brilliant until they hear him speak about something about which they have domain knowledge, and then they realize he is full of sh*t. For example, no one who knows anything about transportation or physics or basic engineering has thought his Boring Company and Hyperloop make any sense at all. His ideas would have been great cover stories for Popular Mechanics in the 1970’s, wowing 13-year-old boys like me with pictures of mile-long cargo blimps and flying RV’s. He is like a Marvel movie that spouts science that is just believable-enough sounding that it moves the plot along but does not stand up to any scrutiny.

All of this would be harmless if he was not running a public company. I don’t really care about the rich folks who were duped by Elizabeth Holmes, but hundreds of thousands of small millenial investors who have totally bought into the Elon hype are literally putting their last dollar into Tesla, and sometimes borrowing more. Tesla shorts often laugh at these folks on Twitter, calling them “bagholders,” but it is a tragedy. Unless Tesla finds a sugar daddy sucker, and the odds of that are getting longer, I think it is going to end badly for many of these investors.

As a disclosure, I have been short Tesla via puts for a while now. It you really want to understand Elon, the best book I can recommend is The Path Between The Seas about the building of the Panama Canal. First, it is a great book you should read no matter what. And second, Ferdinand DeLesseps is the best analog I can find for Musk.

Warren Meyer, “People Who Express Opinions Outside of their Domain Seldom Have Really Looked into it Much”, Coyote Blog, 2019-05-28.

June 28, 2019

The “V-word” in political discussions

Filed under: Americas, Economics, Politics — Tags: , , , — Nicholas @ 05:00

Kristian Niemietz explains why “Venezuela” isn’t a sensible or satisfactory answer to claims in favour of socialism:

Shaded relief map of Venezuela, 1993 (via Wikimedia)

The main point to note is that Venezuela is an actual country, not a shorthand for “everything I don’t like about the Left”. It is a country that is in trouble for specific, identifiable reasons, not for being, somehow, generically, “too left-wing”. This sounds obvious when you put it like that, but deviations from this point are the main cause of V-word inflation.

So when somebody on the Left proposes to, for example, raise income tax, wealth taxes, or corporation tax, people on the pro-market side should not respond by shouting “Venezuela!”. Because that’s not what happened in Venezuela. Venezuela is not a high-tax economy, or at least, their tax burden is not what ruined them.

In the same way, if somebody on the Left proposes to hike the minimum wage, to abolish university tuition fees, or to ban zero-hour contracts, shouting “Venezuela!” is not the answer either. Those are bad ideas, sure. But those are not the ideas that destroyed Venezuela.

In short, we shouldn’t bring up Venezuela in a discussion of run-of-the-mill left-wing policies, which bear little relationship to anything that Chávez and/or Maduro did.

Furthermore, when somebody points out a genuine social problem in Britain, “Yeah but Venezuela!” is not much of a reply. Socialists are sometimes good at identifying problems, even if they are terrible at developing solutions. It is true that we have some of the highest housing costs in the world. It is true that our productivity performance, and as a result, wage growth, are poor, and have been poor for far too long. It is true that our welfare system is riddled with flaws, and often fails to support people who have fallen on hard times.

“It’s much worse in Venezuela, which is the system you lot want!” is not good enough. “It’s much better in capitalist countries X and Y – which is the system we should learn from” is more like it. So in such cases, it’s best to leave Venezuela out of it. Let “Venezuela” be a country, not a rhetorical all-purpose put-down.

That said – don’t declare that moratorium just yet. When prominent British socialists call for mass nationalisations, when they call for price controls and capital controls, when they deride the rule of law as a mere “bourgeois” construct that only serves “the elites” – then yes, it is absolutely fair to point out that this is exactly what happened in Venezuela. Here, we’re not talking about some allegorical “Venezuela”, but about the actual country, and about specific things that happened there. These are the very policies, and this is the very mindset, which turned what was once South America’s richest country into a basket case. This argument may not “resonate with people” – but it’s true.

Further to that: when socialists claim that “their” version of socialism will be completely different from any of its previous incarnations, that it will be genuinely democratic, empowering, grassroots-based and non-hierarchical – then it is fair to point that this is exactly what the Chavistas also used to say.

Some Western socialists are currently trying to convince themselves that Chávez and Maduro just never really aspired to a different kind of socialism, that authoritarian populism is all they ever wanted. This is fundamentally untrue, and Western socialists used to know this very well. The project of Venezuelan socialism started with the aspiration that this time would be different, that this time, “socialism” would not mean an all-powerful state controlling everything. It started with the aspiration that there could be completely different forms of collective ownership, which had nothing to do with the top-down nationalised industries of the past.

The appeal of Millennial Socialism rests on the delusion that the democratic, bottom-up socialism Millennial Socialists aspire to is a fundamentally novel aspiration, and that nobody in history has ever tried to build anything like this before.

But it is not a new aspiration. This was precisely what Chávez’s and Maduro’s “21st Century Socialism” was also about, which is why it used to be so popular in the West. A moratorium on the V-word would just play into the hands of those who now want to pretend that none of this ever happened, and that “Millennial Socialism” is novel, untried and untested.

May 31, 2019

Addressing the Canadian Forces’ shortfall in recruiting

Filed under: Cancon, Military — Tags: , , , — Nicholas @ 05:00

The Canadian Armed Forces have an authorized strength of more than 60,000, but have not been close to that level for several years: as of 2016 there were barely more than 56,000. Recruiting has not kept pace with the demand:

Canada’s armed forces have struggled for years to attract and retain talent. The latest reports only highlight the growing gulf between the number of members required for a fully staffed service, and the lack of actual personnel.

On May 7, Procurement Canada published an expression of interest notice asking the film and television industry to help boost the military’s brand among millennials and young Canadians.

The document ascribes young people’s apparent lack of interest in joining the military to a shift in generational attitudes.

“Millennials rank inward-focused values – happiness, discovery, etc. – higher than collective-focused values – justice, duty, etc.,” the report says.

“Characteristically, they want to contribute to society in a way that is meaningful as viewed in their own standards.”

Membership in the Canadian Armed Forces (CAF) fell from 58,000 to 56,300 between 2011 and 2016, while the forces’ staffing requirements actually grew.

The shortfall in personnel by the end of 2016 measured 4,200 jobs – nearly twice the vacancy gap of four years prior – with no evidence of a reversal of fortunes since.

A fascinating statistic popped up in the coverage that I hadn’t seen before:

The callout also targets celebrity personalities, influencers, podcasts and video games as potential vehicles for pro-military narratives, and stresses the importance of attracting visible minorities “as they account for 51 per cent of all science, technology, engineering and math (STEM) degrees and account for 50 per cent of the doctorate holders in Canada.”

According to the 2016 Census (summarized by Wikipedia), the national average of visible minorities is 22%, so that 22% is disproportionally represented in the graduating classes in STEM programs.

H/T to my friend William for the link.

May 27, 2019

A genuine, bona fide electrified, six-car Fisking!

Filed under: Politics, USA — Tags: , , , , — Nicholas @ 03:00

Once upon a time, in the primordial early days of blogging, an artform was evolved that perfectly suited the ecological niche occupied by bloggers: the Fisking. Thanks to his great respect for the ways of the past, David Thompson is a highly skilled modern practitioner of that ancient artform:

    Here’s an idea! Change your parents’ bad voting habits by refusing to breed.

In the pages of Slate, Christina Cauterucci, whose enthusiasms include “gender and feminism,” wishes to share her wisdom:

    The prospect of harnessing one’s sexual and reproductive powers for social good is a tempting one. So, I’d like to present what I humbly consider a much better proposal: Instead of a sex strike, let’s try a grandkid strike.

It’s a “brilliant new weapon of progressivism,” says Ms Cauterucci, and “exactly the kind of radical response today’s radical threats to equity, justice, and humanity demand.” Specifically,

    It’s time to demand that baby boomers and Gen Xers decide which they’d rather have: their vague attachments to policies that have poisoned the earth and will soon make it difficult for anyone but the obscenely wealthy to live healthy, happy lives, or a pack of adorable munchkins in itty-bitty suspenders ready for unlimited tickle fights and cookie-baking sessions.

This is followed almost immediately by,

    I’ve already decided that I’m not having kids,

Which, for the purposes of Ms Cauterucci’s article, is somewhat convenient. This reproductive decision was, we’re told, arrived at because,

    Child care is extravagantly expensive, and paid family leave is a rare luxury. Bringing a new set of chubby cheeks and wonderfully incomprehensible babblings into the world is the most destructive thing one couple can do to the planet. It seems certain that today’s babies will be tomorrow’s survivors of famine, water shortages, unprecedented natural disasters, and refugee crises.

And furthermore,

    It’s unethical, what with climate change and all. And it’s too dangerous — you’ve seen the news reports on school shootings and know how easy it is for violent men to get their hands on guns.

Um, okay then. Apparently, the thought of becoming a parent immediately conjures mental images of famine, earthquakes, shootings and death. Proof, if more were needed, that the exquisitely woke are just like thee and me. Not unhinged in any way.

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