The Earth wobbles and spins and makes its orbit and we managed to find the keyboard again so let’s get to it….
Is there anything that will get a bigger or more genuine smile than a parent or grandparent seeing that little tyke with their first couple of missing teeth when they come running with that gap and tell you about the Tooth Fairy.
Unfortunately, it seems that far too many of the Liberals continue to believe in the Tooth Fairy into adulthood. Just like the Tooth Fairy, they think money can fall off trees magically and that the money doesn’t really come from anyone. There is only so much GDP and money to go around and it is a zero sum game–money out of the private economy is lost for production of new technology, jobs and higher standards of living.
The GPS system is ubiquitous these days and taken for granted. So few have even the most basic understanding of it workings or history yet we have become very dependent upon it. Lord help us if in some future war an enemy takes out those satellites with an Electronic Pulse Bomb or missile. The program started with the US Navy wanting a more accurate and quicker method for navigation. It requires satellites in orbit about 12,000 miles distant from Earth. There are 24 of them today and we have 6 backups. They send signals which are absorbed by the receiver in your car or mobile GPS. Like radar is measures distance by speed relative to time. It requires more than one of course to get an accurate fix. There days your GPS device uses four most likely so they can triangulate your location. Also those satellites have an onboard clock which is vital to its functioning. The Satellites and the clocks are of course affected by Einstein’s theories of relativity, both the Special Theory and the General theory. Special Theory is the one about the speed of light; General Relativity is about the effects of gravity. Remember that clocks in motion run slower due to the Special Theory, likewise the clocks are affected by the Earth’s gravitational pull. The little nerds figure all this out to adjust for those effects otherwise your GPS wouldn’t be nearly as accurate; they adjust the time calculations to account for the differential as the electromagnetic speed back and forth from space to Earth. It is a concern if that system is ever lost due to hostile action. How many, even in the military, can navigate and locate their destination with a compass or sextant or the Stars have men have done for centuries? We have a lot invested in a very fragile and exposed method of navigation.
Feel sorry for those millions of Yankees that have never been out West to see the night sky. Someplace where there is not a light in sight, no street light, building lights or even home lights. The only light is that from a campfire or your Coleman lantern. You can actually see the Milky Way with the naked eye quite clearly. It is quiet. The only sound is the talk with your family or friends or the scuff of boots on the ground or the sipping of hot coffee around the campfire. Such a place is where you can feel God reaching down and making you look at that marvel of a universe and challenges the notion that is was all merely an accident of nature. Nature ain’t a Michelangelo; it doesn’t have the concepts of beauty or majesty or worth.
We note the spate of articles about the tunnels from Mexico to the US, mostly in Calif. and Ariz. that are used to convey drugs, money and/or weapons. Some go on and on about the how well- engineered they are and that they are quite marvelous. Uh, pardon me, folks have been building elaborate tunnels forever. Geez, look at all the tunnels built by POW’s during the War, or during the trench warfare of the War Between the States. Usually they would simply enlist someone with a bit of mining experience if available and off they would go. Motivation will prod innovation. I doubt if any engineers were needed to construct these things. The labor would be cheap and they have the time to keep looking for the right direction and exit point by trial and error. It is simply a matter of time and plenty of money and that cheap labor that builds these thing, not genius as some have claimed.
Some economic pundits worry about what will happen when the Federal Reserve starts reducing its balance sheet by selling its trove of Treasuries and mortgage-backed securities because they will take enormous losses. A few thoughts on this matter–first there will have to be buyers for those instruments and there is no question that the buyers will not pay face value for those Treasuries thus driving up the yield (buy for 90 cents but collect 100 cents on the investment for example); this will drive up dramatically the interest rates on new Treasuries issued simultaneously; the Fed will take a loss. Of course the loss doesn’t really matter to the Fed because it can print up all the money it wants without authority from anyone else. The political outcry will be huge however. Likewise the Fed and the Federal government will not enjoy the idea of the general public looking behind the curtain to see the way the sausage of an economy is run. They might realize that the Fed is “monetizing” the Federal debt making it easier for the Liberals to continue spending and running deficits with no end, ever. Even the most liberal Keynesian Democrat would acknowledge though that the Fed can’t keep buying 85 Billion forever. We’ve allowed the Government to make us all jump on the rotating merry-go-round when it was slower but now it is at warp speed and its going to be really hard to jump off. By year’s end the Fed will have about 4 Trillion of assets versus about 900 Billion a few years ago. Good luck to us all.
Another definition of crony capitalism–“Private profit by public servants at the expense of the general welfare is corrupt period.” E. Kefauver, Democratic Senator and Presidential candidate. http://www.olcranky.wordpress.c0m