Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Monday, November 24, 2008

Survey: Elected Officials Flunk American History and Civics Test



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Survey Says:
Elected Officials Not the Sharpest Tools in the Shed







Survey Confirms What Most People Knew:
Many Elected Officials Dumber Than Their Constituents


A recent lawsuit Denofiro v Wells questioned whether the New Jersey Secretary of State, Nina Wells, fulfilled her duties under the law of determining whether the candidates for US president on the NJ ballot were qualified. [Obama Birth Certificate, Citizenship: SCOTUS Conference Scheduled for Dec 5]

Wells stated twice that she "assumed" the candidates on the New Jersey ballot were qualified to serve as president--even though Socialist Workers' candidate, Roger Cadelo, has never been a US citizen.

But maybe Wells didn't even know what the duties of her office were: a new survey says that only 44% of US elected officials scored "average" on a test measuring their knowledge of United States civics.

From US officials flunk test of American history, economics, civics:

US elected officials scored abysmally on a test measuring their civic knowledge, with an average grade of just 44 percent, the group that organized the exam said Thursday.

Ordinary citizens did not fare much better, scoring just 49 percent correct on the 33 exam questions compiled by the Intercollegiate Studies Institute (ISI).

"It is disturbing enough that the general public failed ISI's civic literacy test, but when you consider the even more dismal scores of elected officials, you have to be concerned," said Josiah Bunting, chairman of the National Civic Literacy Board at ISI.

"How can political leaders make informed decisions if they don't understand the American experience?" he added.


Exactly.

One interesting group which was not reported was the media's grades.

It's not hard to imagine that many would have scored far worse than average citizens.

The dereliction of the press' traditional duties in fulfilling its adversarial role was on display for months during Election 2008. Both John Edwards (during the John Edwards Scandal) and Barack Obama received preferential press treatments unlike no others in American history.

IF the test had measured "perkiness", Katie Couric might have aced it.

IF the test had measured "meglomania", Keith Olbermann might have led the class.

IF the test had measured "vapidity", Campbell Brown might have scored 100%.

As it is, the test only confirms what many voters have suspected about their elected representatives: some are a few fries short of a Happy Meal.


by Mondo
image: dbkp file




Thursday, September 25, 2008

Bill O'Rielley Channels the Spirit of Karl Marx on Economics



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RANT!
O'Reilly's Economic Spin Zone
"Populist Pinhead"






Bill O'Reilly has a Masters Degree in Broadcast Journalism and another in Public Administration, but apparently, he got thrown out of Economics--because he's functionally illiterate in the subject.

Anyone who's watched The O'Reilly Factor knows that if the host were paid a nickel every time he spouted an economic inanity, he'd be a multimillionaire.

And that's no spin.

His favorite topic economically is greed. Greed explains everything economic for O'Reilly. Gasoline prices go up? Greed. Gasoline prices go down? Greed again. Banks pushed into making loans to people who might have had a hard time paying them? Greed.

His failings on economic matters are an embarrassment--except to William Jennings Bryan aficionados.






There's no spinning that Bill O’Reilly is a populist pinhead. That's how Conservative Punk sees him--and that may be giving O'Reilly the benefit of the doubt.

Those on the right and left who are feigning righteous indignation at the “evil corporations” or “heartless Wall Street” are taking the otherwise complex issue of the financial meltdown, and simplifying it in order to appeal to their audience…or so they think. In fact what they’re doing is treating their viewers and listeners like simpletons and idiots. American's are grown ups, they can take a little bit of truth now and again.

On today’s Radio Factor, Bill O went on a tirade against other talk show hosts who don’t share his one sided and simplistic assessment of our current financial crisis is dishonest. Check out the audio at Johnny Dollar’s Place. During his nearly three minute long screed, O’Reilly goes on to blame rich, cigar chomping, private jet flying talk radio hosts of misleading and lying to their audiences about the bailout and the financial meltdown. Ironically, it’s rich, cigar chomping, private jet flying talk show host Bill O who’s misleading and lying to you.


Mark Levin says, "He (O'Reilly) has a fledging radio show that has no ratings and he'll be off radio soon because he's a failure."

O'Reilly's tactic is to bring someone knowledgeable about the mysteries of how the market works on his show and then attack them if the guest doesn't buy into the host's towering ignorance.

The market has determined that O'Reilly's lack of economic knowledge is worth almost a million dollars a year. That's what some sources estimate is O'Reilly's compensation.

Sounds way off-base to us, but we'll not attack the market for determining his worth: that's what markets are supposed to do. We don't think that Bill O'Reilly takes the money because he's greedy.

Guess that would disqualify us from ever hosting the No-Spin Zone.

by Mondo
images: dbkp; ideagrove



Thursday, September 18, 2008

$90 Crude Oil: Law of Supply and Demand Trump Politics



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Crude Oil Prices Dropped to $90/Barrel
Is Big Oil Less Greedy Now?




"International oil prices have dropped about 10 per cent in two days, the biggest slide since 2004, with US crude down to a seven-month low of about US$91 a barrel."

Oil dropped to around $90 per barrel yesterday.

What has caused the drop in crude oil prices--from over $140 just weeks ago?

Are oil companies suddenly less greedy? Did a collective light bulb go on in the heads of Big Oil executives--perhaps, after listening to all the Leftie talk about how cold-hearted they were?

Maybe it was the US House of Representatives passing a "Don't Drill Now!" bill?

Will economic conspiracy theorists have to find a new whipping boy?

Or maybe it was that strangest of economic mysteries: the Law of Supply and Demand.

Economic problems around the world, exacerbated by this week's turmoil on Wall Street, had depressed expectations of demand and affected the oil price.


Talking about "the law of supply and demand" is not politically sexy for liberals.

Bashing Big Oil is.

With the price of oil down--by as much as $55/barrel--does this mean that Big Oil is 1/3 less evil?

Will liberals and House Democrats change their rhetoric?

Does a bear wear a beanie?


by Mondo
images: dbkp; dkimages


Tuesday, February 12, 2008

Economics of Envy: The Reality

About that Shrinking Middle Class...



“When the rich get richer, the poor get richer as well.”


–Peter Lynch

Red Planet Cartoon's latest offering, "About that Shrinking Middle Class..." has a great presentation on where the American middle class is headed: UP. Facts and figures that may surprise a few people--especially those predicting gloom and doom for the American middle class.

Of course, the class envy warriors (The Democrats and John McCain, notably, among Republicans) would have you believe that the only shrinkage is because everyone is headed down the ladder of economic ladder of opportunity.

It was once suggested that anyone who is interested in running for political office in America be required to take a basic Economics class. We doubt that would solve the problem of class envy demogouges.

However, the class envy warriors would be less effective if there was a requirement that everyone who wanted to vote was required to take a basic economics course.

If you don't have the time for the Econ 101 class, wander over to Red Planet and you'll fill your requirement for today.

by Mondoreb
image: Red Planet Cartoons
Source: Red Planet Cartoons

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Monday, December 31, 2007

Today in History: December 31, 2007

WAR!, DISASTER, ECONOMICS, SMOKING, NANNY STATE, POLITICS, DICTATORS, IMMIGRATION, COMPUTERS, SCIENCE, SERIAL KILLERS, COUP, CULTURE, 2nd AMENDMENT, MAINSTREAM MEDIA, ROCK AND ROLL, BORN, DEATH




In 1991, Union of Soviet Socialist Republics (USSR) last day of existence.

WAR!

In 406, 80,000 Vandels attack the Rhine at Mainz.

In 1775, Battle of Québec; Americans unable to take British stronghold.

In 1862, Union ironclad ship "Monitor" sinks off Cape Hatteras NC.

In 1946, President Truman officially proclaims end of WWII.

DISASTER

In 1986 Dupont Plaza Hotel fire in San Juan, Puerto Rico kills 97

ECONOMICS

In 1600, British East India Company chartered.

In 1776, Rhode Island establishes wage & price controls to curb inflation: Limit is 70¢ a day for carpenters, 42¢ for tailors.

In 1896, 25th auto built in US.

In 1961, Marshall Plan expires after distributing more than $12 billion.

In 1974, Gold legal in US, Franklin Mint strikes Panamá's Gold 100 balboa coin.

In 1991, Dow Jones closes at record high 3168.83.

SMOKING



In 1910, US tobacco industry produced 9 billion cigarettes in 1910.
In 1930, US tobacco industry produced 123 billion cigarettes in 1930.

POLITICS

In 1857, Queen Victoria chooses Ottawa as new capital of Canada.

In 1862, President Lincoln signs act admitting West Virginia to the Union.

In 1897, Brooklyn's last day as a city, it incorporates into NYC (1/1/1898).

In 1945. Ratification of UN Charter completed.

In 1984, US leaves UNESCO.

In 1978, Taiwan's final day of diplomatic relations with the US.

In 1999, Control of Panamá Canal reverts to Panamá.

DICTATORS

In 1958, Cuban dictator Batista flees from advancing rebels led by Fidel Castro.

IMMIGRATION

In 1890, Ellis Island (New York NY) opens as a US immigration depot.

COMPUTERS

In 1997, Intel cuts price of Pentium II-233 MHz from $401 to $268.

In 1997, Microsoft buys Hotmail E-mail service.

SCIENCE

In 1879, Edison gives 1st public demonstration of his incandescent lamp.

In 1911, Marie Curie receives her 2nd Nobel Prize.

In 1923, 1st transatlantic radio broadcast of a voice, Pittsburgh-Manchester.

In 1924, Edwin Hubble announces existence of distant galactic systems.

In 1958, International Geophyscial Year (IGY) ends.

In 1968, 1st supersonic airliner flown (Russian Tupolev TU-144).

SERIAL KILLERS

In 1977, Ted Bundy escapes from jail in Colorado.

CULTURE

In 1907, for the 1st time a ball drops at Times Square to signal the new year.

1921 Last San Francisco firehorses retired.

In 1923, BBC begins using Big Ben chime ID.

In 1935, Charles Darrow patents Monopoly.

In 1990, The Sci-Fi Channel on cable TV begins transmitting.

In 1995, Cartoonist Bill Watterson ends his "Calvin & Hobbes" comic strip.

2nd AMENDMENT

In 1984, NYC subway gunman Bernhard Goetz surrenders to police in New Hampshire.

MAINSTREAM MEDIA

In 1981, CNN Headline News debuts.

COUP

In 1961, failed coup by Syrian group in Lebanon.

NANNY STATE

1938 Dr R N Harger's "drunkometer", 1st breath test, introduced in Indiana

ROCK AND ROLL

In 1963, Jerry Garcia & Bob Weir played music together for the 1st time.

In 1966, Monkee's "I'm a Believer" hits #1 & stays there for 7 weeks.

DEMOGRAPHY

1997 More Swedes died than were born in 1997, 1st time since 1809

BORN

1880 George C Marshall Uniontown PA, authored Marshall Plan (Nobel 1953)
1892 Jason Robards Sr Hillsdale MI, actor (Acapulco)
1908 Simon Wiesenthal Polish/Austrian nazi hunter (Wiesenthal Center)
1921 Rocky Graziano New York NY, boxer (Middleweight champion)/actor (Miami Undercover)
1942 Andy Summers Blackpool England, rock guitarist (Police-Roxanne)
1943 Ben Kingsley Scarborough England, actor (Gandhi, Betrayal, Maurice)
1943 John Denver [Henry John Deutschendorf Jr] Roswell NM, singer/songwriter/actor (Rocky Mountain High, Thank God I'm a Country Boy, Oh God!)
1946 Patti Smith Chicago IL, singer (Radio Ethiopia)
1947 Burton Cummings rock guitarist (Guess Who-These Eyes)
1947 Tim Matheson California, actor (Animal House, Fletch, Up the Creek)
1948 Donna Summer Boston MA, singer (Love to Love You Baby, On the Radio)
1959 Val [Edward] Kilmer actor (The Saint, Top Gun, The Doors)
1959 Bebe Neuwirth Princeton NJ, actress (Lilith-Cheers, Damn Yankees)
1970 Bryon Russell NBA forward (Utah Jazz)

DEATH

0192 Lucius Aurelius Commodus Emperor of Rome (180-192), murdered at 31
1384 John Wycliffe English religious reformer/bible translator, dies
1862 Joshua Woodrow Sill US Union Brigadier-General, dies in battle at 31
1972 Roberto Clemente Pittsburgh Pirate slugger, dies in a plane crash at 38
1980 Marshall McLuhan Canadian cultural philosopher, dies at 69
1985 Rick Nelson singer/actor (Adventures of Ozzie & Harriet), dies at 45
1990 George Allen US football coach (Los Angeles Rams, Washington Redskins), dies
1995 Calvin/Hobbes (comic strip), dies
1996 61 law enforcement officers killed by felons in US this year
1997 76 law enforcement officers killed by felons in US this year

HOLIDAYS

Austria : Imperial Ball
Benin : Feed Yourself Day
Congo : National Day
Japan : Omisoka Day/Grand Purification
Scotland : Hogmanay Day
World : New Year's Eve/Watch Night

December 31, 2007, the last day of the year. There are no days left in the year.

compiled by Mondoreb
Sources:
* Today in History
* Today in History

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Saturday, November 10, 2007

Bob Herbert:
Economic Knowledge?
What Economic Knowledge?



Bob Herbert says, "If it looks like a recession and feels like a recession ..."

To which anyone outside the cozy idealogical confines of the New York Times might be forced to take him by his shoulders and gently shake the man from his dreamy trance-like state. Herbert, is positively Cayce-esque in his ability to pull back the curtains of financial uncertainty, all while sitting in his office.

Nothing will reduce a thinking man to uncontrollable laughter faster than a journalist spouting economics. Thus, Herbert's "Recession? What Recesssion?" is a masterpiece of the genre.
“We have an economy that is based on increased debt,” said Mr. Hinchey. “The national debt is now slightly above $9 trillion, and ordinary working people are finding that they have to borrow more and more to maintain their standard of living."

“The average now is that people are spending close to 10 percent more than they earn every month. Obviously, that can’t be sustained.”
And the grand finale.
The chickens of our denial are coming home to roost with a vengeance. Meanwhile, the elites are scouring the landscape for signs of a recession.
Using such well-known economic terms as "gross domestic product" and "Consumer Price Index", Herbert continues his financial doomsday show, and one imagines the entire New York Times newsroom waving their lighters in the air at the finish.

"Look everybody! Bobby's gonna do his economics thing! Gather round!"

Herbert is as accurate a seer on the economy as he is on the war in Iraq and most other issues. When "Bush?" is the question, Bob's favorite answering mood is despair.

Who knows? Herbert's bound to get one right some day. This one could be it. If he is right, the New York Times will most likely have a party.

Then, maybe Bob Herbert can do his "Economic Wizard" routine again.

by Mondoreb


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Tuesday, November 6, 2007

Red Planet Cartoons:

Tax Cuts For Dummies



For the those who flunked Econ 101 (apparently most of the Democrats on the tax-writing committees in Congress) and those who want an informative look at tax cuts and how they spur economic growth, Red Planet Cartoons has an extremely instructive and completely painless lesson. The above cartoon is only the overview.

Go check it out. Don't be a tax cut dummy.


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