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Showing posts with label budget deficit. Show all posts
Showing posts with label budget deficit. Show all posts

Sunday, April 25, 2010

Potpourri CXXX
I have a LOT of junk in the blog file, so let's just see how far I get before I grow tired of the exercise. Ya just never know what mood is going to strike me sometimes.

From Kate Down Under:
  • A roundtable site on the Battle of Midway, one of the major turning points of World War II.
From Jerry Pournelle:
From D2:
  • Seven species of robot
  • A truly fantastic TED.com lecture on why we should go to Mars.
It's been awhile, but these are still (mostly) worth reading...some of my thoughts on using targeted marketing to appeal to specific audiences in space advocacy.


A cautionary tale for any Gen Y tech genius looking to get ahead in the world: Apple traditionally has kept a tight hold on keeping new products from being seen by the public until they were good and ready. That is, until this kid brought a new "4G" iPhone with him to a bar, got ripped, and left it behind, allowing Gizmodo.com to pick it up and reveal some of its secrets to an interested world. Wonder where this kid's next job is going to be and whether he'll be asking "You want fries with that?"

National Geographic has some cool pictures of the lightning generated by the Iceland volcano. Speaking of that volcano, it's affecting domestic commercial aviation revenues, not just transatlantic.

Note to scientists interested in hunting for meteorite fragments: try to do it expeditiously during planting season.

Interesting letter to the editor in the Huntsville Times on being yourself.

A report in the Houston Chronicle says that depression is more common in springtime than winter. Doesn't sound right to me, but I've always been cold-intolerant/-depressed.

Some mild Mars humor from Fox News viewers.

Speeding isn't just monitored by cameras on the ground anymore...

Did you know vacationing was a basic human right? Depends on whom you ask.

An opinion poll by the Everett Group on space exploration.

Markings on Pluto look like molasses?

More details revealed on the X-37, which launched last week.

From the Chronicle of Higher Education: a good article on bad writing. Trust me, folks: there is NO need for academic writing to be bad or dull.

Elon Musk, founder of SpaceX, has an editorial on the failings of Constellation, getting a few things wrong and missing a few critical points, alas. Like the Shuttle, I have a feeling Constellation won't be missed until it's gone.

Some more good pictures of Ares I-X.

Speaking of Ares I-X, I have two articles in the latest edition of Ad Astra: a summary of Ares I-X and a review of Les Johnson's latest book.



I keep getting asked what I think of the Obama administration's NASA policy. Best I can do is refer you to the first paragraph of the National Space Society's original response to the 2011 budget. After all, I wrote that one. :-)

Speaking of Obama's space policy the New York Daily News has an editorial by Robert Zubrin on Obama's "failure to launch." There's also this.

The subtitle on this article made me laugh long and loudly: "Treasury Secretary Tim Geithner said in an interview Sunday, when asked about the Tea Party protests, that the Obama administration is paying more attention to the deficit than the Bush administration did." BWAH ha ha ha ha ha! Want to visualize what "budget cuts" mean to the current administration? Check this out, and this.



A climate scientist in Australia was quick to "announce" that the eruption of the Iceland volcano would have no effect on temperatures in Europe. And if temperatures DO drop, as they did after the eruption of Mt. Pinatubo? Just a coincidence, I'm sure.

A really excellent and uplifting (if a tad utopian) talk by my buddy Loretta Whitesides on the future of space and what we can do with it.

Did you know there was a "man-cession" on?

Amazing what some folks will pay good money for...for instance, movie props from the latest Iron Man movie.

Former NASA Administrator Mike Griffin will speak at the Mars Society Convention this coming August. Speaking of Griffin, he was one of the VIP guests at Yuri's Night Huntsville this year.

Sometimes it's all about modernizing the Benjamins...

I just liked these images...some of the world's most unusual buildings.

Why are some guys single? This article suggests a few answers...I've pled guilty to most or all of these at one time or another.

Twenty years of Hubble Space Telescope photos. Saaaaa-lute!

I still want to include this artist's work as part of ISDC 2011. Anyone have any idea how one goes about arranging that?

From one of my random morning internet surfing adventures:
  • A Guide to the World’s Healthiest Booze
  • Best Star Wars memorabilia ever (some of these are arguable)
Speaking of booze, I got this link from Tina, indicating that stronger wine might be available for sale in Alabama soon. I don't want stronger wine here, I just want Wine.com to be able to ship good stuff here.

Rock your Christmas hard:
From my old stomping grounds of Illinois...Blago (former Governor Rod Blagioevich) wants to subpoena President Obama in a corruption trial. This could prove interesting.

This is kinda cool: a 360-degree view of Atlantis on the launch pad at Complex 39A.

The makers of Marmite are taking the British National Party to court for using their product in an ad without their permission.

Because traveling through Dulles International Airport doesn't bite enough...

From Nick Skytland, an interesting article on how management is done at Pixar Studios.

From Joanne Manaster:
  • The world's tiniest world map.
  • Renowned physicist Stephen Hawking advises against attracting E.T.'s attention.
Random: William Shatner and some Chinese guy I've never heard of doing a cover of "Total Eclipse of the Heart." No, really.

This is pretty cool: a father developed an app to help his autistic son communicate.

Wow! Cleared 'em all out. Might as well reward myself with (almost) 8 hours of sleep. Stranger things have happened.

Sunday, November 01, 2009

Potpourri CIX

I've got about a week's worth of random links to clear out, so I might as well get cracking.

Might as well start with this email I got from myself courtesy of FutureMe.org:

Dear FutureMe,

You've been to Europe and--hopefully--seen the Ares I-X flight go up by now. You had three weeks to yourself; what did you learn? What did you do for others? What did you come back with (hopefully nothing contagious)? What contacts/friends did you make? What did you learn from the launch?

Now get writing!

/b

If you're interested in sending messages to your future self, FutureMe is kind of fun.

From Cliff, a unique take on how to compare Obama's deficit spending with George W. Bush's deficit spending.

From Father Dan, a 1948 cartoon on freedom and what it means to have it taken away. Ten minutes long, but worth the watch.

From Dom, a flow chart of "Hey Jude" by The Beatles. No, really.

From Lin: an indication that the Obama administration might've exaggerated a little on the number of jobs created by the stimulus. I'm shocked, shocked...

From me, a list of the Ares I-X blogs posted up to and during launch:

NASA has an iPhone application.

From work, a series of 3D images of the Ares I-X rocket. Yowza! (Note: Java required to run.)

Antarctic ice loss might have been overestimated.

An article on NERVA, among other things.

Even if the U.S. government has a hard time explaining why it needs a space program, the European Space Agency does not.


From Dea, a little graphic that amused me because it occasionally hits close to home. The scary part is that meetings in this job can go 4-8 hours...WAY off the scale for this chart.

Oh yeah, speaking of Ares I-X, Fox News posted a slide show from the mission.

I think I've found my next tax haven: a floating city!

And I guess that will do for now. Thanks for reading...or not.

Sunday, July 19, 2009

Follow-up on Government's Humor-in-the-Workplace Solicitation

As funny as the original solicitation was to hire a humorist to help the Bureau of the Public Debt, Senator Byron Dorgan as put a kibosh on the idea (the solicitation is now listed as cancelled). His comments are instructive for those who believe government has a sense of humor about itself. It doesn't.

“Of all the agencies, the Bureau of Public Debt should know that there is very little that is funny about today’s economic conditions,” Dorgan said in a statement. “I understand the need for motivation in the workplace, but I think we have a greater motivation to save the taxpayers some money.”

Sure, pal. But it's your party spending one TRILLION dollars (and that's not funny)!

Thursday, January 29, 2009

Various Items and Comments Regarding the Economy

President Obama's $800+ billion-dollar "stimulus" bill is a problem for people who believe in classical economics. It is mostly about federal spending on various sorts of pet projects, political favors, bailouts of failed banks and businesses, and perhaps creating a nationalized Bank of the United States. The tax base cannot support it. Since the Dow Jones Industrial Average dropped from 11,000 to around 8,000, we've lost at least a trillion dollars in value from our economy. Businesses have closed their doors, unemployment has gone up, interest rates are at essentially zero yet no bank will issue new loans. This is a crisis of confidence, and a new government expenditure of a trillion dollars, unsupported by the tax base or the monetary system, can only mean one thing down the road: hyperinflation. Hyperinflation is simple to understand--too much money is created, prices continue to increase, leading the government to print more money to help people artificially keep up with rising prices, causing the value of the currency to drop.

My "favorite" image of hyperinflation occurred in Weimar Germany, the republic formed after Kaiser Wilhelm II's regime collapsed in 1918. In the economic hardship and uncertainty that followed from crushing war debts, Germany's currency was inflated to pay the debt. Citizens of Germany faced mounting inflation, to the point where instead of US$1 equalling 60 Marks, US$1 equalled 8,000 marks. People were going to the store with wheelbarrows full of money to buy a loaf of bread. The value of the Mark collapsed because there was nothing of value backing it--at the time, gold was the standard for backing national currencies.

Since the U.S. went off the Gold Standard in 1973, the dollar has had a value accepted based on currency speculation and the full faith and credit of the U.S. Government. That is, people in this country and around the world believe the dollar has value because the U.S. Government says it does and is willing and able to back up that value with something of tangible worth. It is "fiat money," from the Latin term "fiat" meaning "let there be" (ex. "fiat lux" - let there be light). So: the U.S. Government says, "Let there be money," and lo, it was so. But that sort of money only lasts so long as people believe in the ability of the U.S. Government or its people to create enough value in this country to consider the dollar still believable. When the government says, "We're going to spend a trillion dollars to fix the economy!" some folks might say, "Great!" Others, a little more cautious, would ask, "Where's the money going to come from?" The sources, given the current state of things, are limited:

  1. Print more money (inflation)
  2. Increase taxes
  3. Borrow money from someone else who has it
  4. Create new wealth

Curious about what happens with inflation? See that article on Weimar Germany or these items on the inflation occurring right now under dictator Robert Mugabe in Zimbabwe (formerly Rhodesia):

http://www.telegraph.co.uk/news/worldnews/africaandindianocean/zimbabwe/3264644/Zimbabwe-shops-stop-accepting-local-currency.html

http://www.telegraph.co.uk/news/worldnews/africaandindianocean/zimbabwe/4224947/New-Zimbabwe-50bn-note-buys-three-newspapers.html

Okay, so what about raising taxes? You might recall that businesses all over the country are facing profit losses because the economy is slowing. Unemployment is rising because businesses are cutting costs (employment) in order to stay afloat. They are unable to expand into new ventures because fewer consumers and investors have money to buy into them and because banks are unwilling to loan money. So there's less money to go around to support economic growth, and some folks want to raise taxes on businesses. That will slow down how well money flows through the economy (liquidity), as the government gets more and businesses capable of building long-term employment shrink further.

We could, have, and probably will, borrow more from other countries who can afford to buy U.S. Treasury Bills: Europe, Japan, China, and (surprise, surprise), the oil sheikdoms of the Middle East. The first problem is that an economic slowdown here cuts down economic activity elsewhere, reducing the amount of money available overseas to buy our debt. Second, T-Bills are, like the dollar, backed by the full faith and credit of the U.S. Government, with the difference that they actually have a due date for a return on investment. If other countries no longer believe that the U.S. will ever repay the debt, they might stop buying our T-Bills or declare us to be in default, which amounts to the same thing. Back when Japan was still our biggest economic competitor (from the mid '80s to the early '90s), there was some loose talk about Japan accepting the state of Hawaii or California as "payment" for our debts. Could that idea arise again? Who would buy that?

The best ways government itself can increase tax revenues, create jobs, and stimulate businesses are to lower taxes, reduce intrusive regulations, create and maintain infrastructure, and keep government out of competition with the private sector. The best ways private industry can create growth are to find new sources of wealth, develop new technologies, and create new businesses.

The best place for this nation to do those things is in space. As of yet, I've not heard about any new money going to NASA or any tax breaks going to businesses seeking to start businesses or prospect for resources there. But, of course, I'm a conservative and a kook, so what do I know?

This whole thing is just insane because the government is most likely to pick options 1, 2, and 3, which will stifle option 4, thereby slowing the recovery. Amity Shlaes' The Forgotten Man has never been more timely.

Monday, November 24, 2008

I Thought Everybody Was Worried About the Bush Deficit

http://bloomberg.com/apps/news?pid=20601109&sid=arEE1iClqDrk&refer=home

This one deserves to be quoted:

U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit

Nov. 24 (Bloomberg) -- The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.
The unprecedented pledge of funds includes $3.18 trillion already tapped by financial institutions in the biggest response to an economic emergency since the New Deal of the 1930s, according to data compiled by Bloomberg. The commitment dwarfs the plan approved by lawmakers, the Treasury Department’s $700 billion Troubled Asset Relief Program. Federal Reserve
lending last week was 1,900 times the weekly average for the three years before the crisis.

What other bright ideas will we encouter in the next year? The world wonders.