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Home Office plans to require registration of mobile phones (and to register the identities of hotel guests (pdf), record who calls whom and what they read online, etc …) have a familiar feel. In the Soviet Union, all printing machinery and typewriters were registered just in case they might be used for ‘anti-social’ purposes, when the people who had access to them could be tracked-down, watched and questioned.  October 21st, 2008 | 18 comments - (Comments are closed)
 Fox News asks the question: “Will Obama’s $604M Haul Kill Off Public Financing?” Ask any Libertarian and I am sure the answer you will hear is: “I certainly hope so!”. No Libertarian presidential candidate has ever accepted stolen funds for their campaign. Perhaps the attempts to regulate political speech have simply reached the point at which even a Socialist Democrat recognizes they are better off not accepting State controlled financing. If the Republicans stay out of the trough as well four years now, perhaps we will at least get the State out of campaign financing. October 20th, 2008 | 20 comments - (Comments are closed)
Now that banks are being forced back to their traditional model of being dull institutions, those chasers after excitement who have been shown the door might like to consider some career options. I rather like Matthew Lynn’s list of suggested new ideas. On a serious note, it is one thing to embrace risk-taking as a virtue of entrepreneurship, so long as the persons taking the risks carry responsibility for the bust. The problem with the investment banks, such as now-defunct Lehman Brothers and Bear Stearns, is that seldom happens. If the “Masters of the Universe” really do crave the high-wire, much better that they do so with money not given to them by the taxpayer. On a separate but related point about state ownership of banks, one issue that has not yet been much discussed is that of political and business corruption. Under “public” ownership, what will count will be what Ayn Rand called “the politics of pull”: the ability of governments to put their toadies onto bank boards to ensure that favoured groups get their loans and other benefits, while enriching those with the right connections. We saw that in countries like France, state-controlled banks such as Credit Lyonnais became engines of corruption on a huge scale. If ever there was an issue for enterprising journalists to go after, it is this one. They may probably do so once they have become bored describing Gordon “off balance sheet” Brown as some sort of economic superman. October 20th, 2008 | 3 comments - (Comments are closed)
You might think that with all the worries about recession, bank failures and so on, that political leaders might want to avoid making ever greater commitments on public spending. Not so. Just to remind us about the kinds of concerns that animate the political classes, here is this story:
It is hardly a fear. It is a reality.
It is important to remember that even supposedly private sector firms such as Vodafone can easily find it next-to-impossible not to co-operate with governments on stuff like this, particularly if the government can threaten to cut off licences.
So let’s assume that the government has data on the 40 million-plus people who buy a pre-paid phone. Even leaving aside the moral objections to such a database, the practical issue of how on earth one can sift through the haystack of millions of such details for the possible pin of a terrorist plot does not seem to register. But then again, one must remember that the database state is not really about terrorism. It is a beast that is now acquiring a life of its own. After all, thousands of jobs, millions of profits, are tied up with this. If the Tories really do stick to their pledge to shut this thing down – and I would not want to bet my house on it – it is going to put a lot of “consultants” out of a job. A certain grim satisfaction would be involved in that. My wife, who is a consultant, refuses to work on any such things, god love her. October 20th, 2008 | 28 comments - (Comments are closed)
Spitfire: Portrait of a Legend On the strength of Leo McKinstry’s excellent book about Geoff Boycott, I bought this book about the Supermarine Spitfire. I didn’t find it quite so entertaining as that first one, but I kept reading, and I kept learning things that I didn’t know about this famous airplane. The basic problem with the Spitfire story, as a story, is that almost all of the excitement comes at the beginning. How was it designed and by whom? Once designed, will it be ready in time for the world-shaping, civilisation-saving contest which all readers know will soon erupt? Well, we know that it will be ready, but how? In what numbers? Who were the insufficiently sung heroes of this story, and who the insufficiently damned villains? And, in the great battle, how exactly did it do? That’s the heart of the story, and McKinstry tells it well, or at least (to an airplane ignoramus like me) convincingly. But the Spitfire carried on being manufactured right through the war, all the while being speeded up, enlarged, having its shape made uglier, its armaments made fiercer, its range improved, its weight greatly increased, and its task list expanded. Had McKinstry ignored all this later stuff it might have made a more entertaining book, but that would not have been the story of the Spitfire. As it is, the Battle of Britain only ends more than half way through the book, after which McKinstry takes us on a tour of all the other dramas and developments as efficaciously as he can. → Continue reading: What the Spitfire did and what the Spitfire did next October 19th, 2008 | 26 comments - (Comments are closed)
The only other thing I would add is that I am in the advertising industry and most of the ads for sub-prime loans had dried up before the recent bail-out bill. As soon as that went through the volume for these ads went up 10 times. Whatever the government did to “fix” the problem ain’t working because all they did was just give everyone who didn’t make money the first time around another shot at the craps table. – from a comment by “Ben Franklin” on this Belmont Club posting spotted by David Farrer October 19th, 2008 | 6 comments - (Comments are closed)
The polls have not been kind to the dominant media narrative. Taking lessons from their coverage of Obamamania, the fourth estate puffed up and justified the representation of Brown as a political superhero, straddling the globe whilst other leaders squabbled like pygmies beneath his legs. I am not sure where the source of this hagiographic support stemmed from, but the source in part, is Brown as a personification of the nation. The appearance of undertaking such a role allowed an orgy of headlines about how Britain as Brown saved the credit crunch. That the mainstream media grasps this story is a testament to their insecurity. It is narrative of a nation in decline: febrile, brittle, with reporters suspending critical judgement. Once the real events start to seep out, it is clear that three weeks of Broonmedia, following the distortions of blanket conference coverage, have not stirred the polls beyond some decline in the Tory lead. Perhaps the media confused Obama and Brown. If the media are now more prone to herd behaviour due to the narrow bases of their recruitment and education, this represents a further step change in their retreat from their audiences. When they hear the same message bleating from their television, radio and newspapers, people will turn to other sources and other traditions to explain their situation. October 19th, 2008 | 2 comments - (Comments are closed)
Poor naive George W. Bush! For all his shambolic presidency, his dreadful mistakes, and the horrors of aggressive imperialism, his last couple of months in office could end up being the most disastrous for the world. Bloomberg reports:
Just how bad this could be is already showing. The report continues:
Just what has the continuation of the OECD nations’ campaign to plunder smaller states and institute globally uniform (high) taxation got to do with the market crash? Nothing. Executive pay? Irrelevant, too, save in the politics of envy. Mainstream banks, not hedgies, were the ones that crashed after playing iffy games with CDOs, and governments helped pump-up house prices – with enthusiasm. Where this agenda comes in is as an opportunity to kick the resented “Anglo-Saxon” model of capitalism while it is down – even, and especially, in those places where it is not down yet. (Are we missing Commissioner Mandelson yet?) Mr Bush has lost the thread entirely if he really thinks a transnational “reform” of the financial system can do other than damage “free markets, free enterprise and free trade”. He may have a patchy record on liberty, and a bad record on limited government. His guests in November will have no interest in either. They will tempt him (have tempted him) with the mantle of world saviour, and will try to get him to bind his successors. We shall have to hope that his successor, either one of whom would be well to the economic right of the self-selected ‘international community’, depressingly enough, is more wily and far-sighted. Meanwhile, where is there left to run? October 19th, 2008 | 12 comments - (Comments are closed)
It is funny how films that you put down on the “must get around to seeing it sometime” list never get seen. Well, I have wanted to watch that 1970 epic, Waterloo, for a while and watched it during a quiet Saturday afternoon. Several things struck me about it, not least the fact that the cast was drawn from the Soviet Union (the Red Army?). I think I remember reading somewhere that the Soviet forces were used as cast extras in quite a lot of films, including a Russian film version of War and Peace. Rod Steiger’s portrayal of Bonaparte has not, in my view, ever been bettered. What a great actor Steiger was. Mad eyes. I wonder if anyone who drives past the rolling wheatfields of Belgium in which the battle was fought ever wonder about the sheer carnage that was caused on that damp June day in 1815, or reflect that, nearly 200 years later, Bonaparte’s dream of a pan-European empire has in some ways come to pass, albeit without the nifty French cavalry uniforms. Andrew Roberts’ fine account of both Napoleon and his nemesis, Wellington, is certainly worth a read. October 18th, 2008 | 14 comments - (Comments are closed)
I like Fridays these days, because on Friday, David Thompsom does another clutch of Friday ephemera, and this Friday’s ephemera included three links to a black guy named Zo, explaining why he will be voting McCain/Palin. When I started listening, I kept thinking, there’s a snag. When is the ambush coming? I don’t know quite why I thought this, but I did. Cognitive dissonance, I imagine. Guys who talk like that just do not think like that. Many of them hardly think at all, except about show business concerning which they are highly knowledgeable. Another favourite blog-ephemerist is Lynn Sislo (sp?), who will not be voting McCain/Palin, in fact in this posting, she includes a link to a report about the equal and opposite phenomenon to Zo. But best of all, in a more recent Lynn S posting, there is a link to an amazing time-map showing the growth of Walmart. Capitalism at its formidable best (talking of which, have you heard that Buffet is now buying shares?). It is an object lesson in starting slow, getting it right and then – and only then – conquering the universe. Well, not the universe, yet, just America. But give it time. Highly recommended. October 17th, 2008 | 12 comments - (Comments are closed)
…They would make Guido Fawkes an advisor on how to fight the next election. Of course Guido (aka Paul Staines), whom I know and like, prefers, as I and many other bloggers do, to give party politics a wide berth in professional terms. He is far more effective doing what he is doing now and obviously has a great time doing it. But as his example shows, the guy has more sense on how the Tories should go after the absurd notion of Gordon ‘off-balance-sheet’ Brown than any number of folk working in Tory HQ. Think about it: the Tories should put up posters with the Brown comment on “no return to boom and bust” over, and over, and over. That this man, who has presided over deteriorating public finances during a relatively strong period of growth, sold our gold reserves at a fraction of their current value, raided pension funds and shafted taxpayers should be able to pose as some sort of economic Winston Churchill is a joke. October 17th, 2008 | 5 comments - (Comments are closed)
There is no “responsible” route out of recession – we need radical action to rescue the economy. We need a growth package and we need it fast, the sooner it is in place the quicker we will be out of recession. – Guido Fawkes was underwhelmed by David Cameron’s latest speech October 17th, 2008 | 6 comments - (Comments are closed)
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