You go to sleep for one night and the next morning there are all sorts of strange and curious matters spread across the media outlets that fuel the imagination and sets the mind to twirling.
Just when you think you have a handle on human nature you learn that over 70 people were killed and hundreds badly injured at a soccer game in Egypt! Makes one suspect there was something more serious afoot than merely the score of the game. In that strange land one can only wonder.
Which do you think is the more powerful emotion–hate or love? I think its no contest and that love would win out. Hate can be very strong within the human mind and our history is filled with stories of revenge and murders committed for real or perceived wrongs. But love I believe is much more potent in human actions. Take a look at what people are willing to sacrifice for others they love. Some have given their lives out of love of family, friends or nations. You can start with Jesus as an example. He didn’t die because he hated the Romans or anyone else it was because he loved. The guys at the Alamo didn’t stay because they hated the Mexicans it was out of love for the men with them and that amorphous concept of freedom and release from tyranny.
Why did Panetta announce publicly the possible attack by Israel this spring against Iran? That was very strange. Was it a warning to Iran? I doubt that but possibly they think such a threat would cause them to back off the Nukes. More likely they were making a shot across the bow to Israel that they shouldn’t make the attempt and by making the possibility public it would expose Israel to condemnation that would make them kennel the dogs of war. If the latter then that is not the best way to deal with our only dependable ally in the region. We could have told them privately that if they did make the attack they would be on their own. Of course that would be a hollow threat by us. The Jewish lobby in the US would not allow Israel to be counter-attacked without our coming to as much of a rescue as we could.
The push by our friends in Europe to convert much of their transportation fuel to biodiesel has run into a snag it seems. Already several of the centrally planned governments have backed and funded large projects to produce biodiesel. But, but, but, now there are some second thoughts about whether it really works or not in reducing carbon emissions. The concern is that to get the bio base materials will require the destruction of forest and other crop lands and grasses which naturally reduce carbon dioxide without any special help or incentives of any government. The EU braintrust (nattering nabobs of negativity if ever there was) now suspects that biofuels might produce a net loss of carbon reduction capacity. They are debating which is what bureaucrats do best and endlessly in Brussels. Of course they big difference is when government make a policy and then back it with funding the amounts are enourmous. If private industry tries to create a biofuel market and it fails then the loss is on them and the numbers are not so large and the taxpayers aren’t on the hook. Of course PETA folks should be upset because a major ingredient in biofuels is animal fats and waste. They literally clean out the slaughterhouse. It will be interesting to see what the bureaucrats ultimately decide. We’ll see if the Europeans are willing to pay even more for a gallon of gas….like maybe $10 per.
How many times can Chicken Little warn us of the falling sky? Overnight we hear again that a Greek restructure deal for its bond debt is “imminent”. What creditor in their right mind would be willing to exchange a bond due next month for a new one at 50% of that face value and then the new one wouldn’t be due for decades and at a very low interest rate? You’re right not a one. But there aren’t very many really private people holding that debt. It is mostly pension plans, banks and insurance companies that are all highly regulated by the respective governments and they will ultimately have to do as they are told. Of course there are always consequences because the beneficiaries and depostors in those respective entities will demand their money. Surprise, surprise. Then the governments will have to step in the make the loss good so their citizens aren’t hurt. But that will mean higher taxes or reduced government spending in those lands. The game of musical chairs has some undeniable facts–sooner or later there will be a loser standing.
If you think you have a difficult wife you might thank your stars that you don’t have Rosamund the Roman Emporess of the 7th century. She was not loyal shall we say and had numerous lovers. Apparently she was quite the looker and charmer. She got tired of her boring old partner the Emporer Justin and eventually convinced one of her boyfriends to dispatch him in exchange for a promise to back him for the throne. That happened and all was well for a short period of time. But Rosamun didn’t like witnesses more than she liked her new beau. She poisoned him by her own hand and the dance went on. Alas, more sober heads ultimately decided she was a bit too much even for the looser standards of the royalty of that day and she was removed with a divorce from all government, exile. The successor Sophia was just a much a cold blooded killer in her turn. There must have been something in the water in the royal palace in old Constantinople.
If the current administration really believes as it states that Americans have an innate sense of fairness and they want a tax system based on fairness, then why don’t they trust in that belief and let each of us pay what we determine is fair? Seems fair to me.
The more I listen to Bernancke and the other Fed pundits the more I am reminded of the old Bible saying about looking through a glass darkly. I get more convinced everyday that they really don’t know more than we do that is of value and they don’t have any better idea about how to “manage” the economy than Joe Six pack. They keep trying to make it some algerbraic or alogrithmic formulation when it is only simple math–adding and subtracting. www.olcranky.wordpress.com