“The man must be presumed innocent until proven guilty, and in any event, there is still some chance that the whole sordid affair turns out to have been a political set-up, in which case he might even emerge from this bizarre scandal with credit and sympathy. Yet it is about time Europe’s ownership of the International Monetary Fund, and particularly France’s apparently divine right to the top job, was brought to a close. If Mr Strauss-Kahn’s nemesis in a New York hotel room loosens Europe’s grip, then that may be no bad thing. Whatever the truth of otherwise of the allegations, Mr Strauss-Kahn’s spectacular fall from grace is widely seen as a near catastrophe both for the IMF and the delicate negotiations around further rescue packages for the stricken eurozone periphery. This it is definitively not. To the contrary, it might even bring about a rethink of the currently doomed strategy of throwing good money after bad.”
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The historian and libertarian writer, Robert Higgs. is most upset that some Americans had celebrated when Osama bin Laden was killed by US special forces a few days ago:
I agree utterly with the first paragraph. We should celebrate goodness more than we do. Absolutely right. But come on. I really have had it with the moral posturing of people who wax indignant about their countrymen feeling pleased because an evil man has been killed. When an evil person, in a confrontation such as occurred a few days ago, is killed, then why should not the admittedly rough justice of what happened be marked by a certain degree of grim satisfaction? I don’t imagine for a moment that anyone who voiced satisfaction at OBL’s death is under the illusion that this can possibly put right the evil that was done on 9/11. There are times, however, when grim satisfaction at what happened to OBL is not only the understandable reaction, but the just one. It interests me how some on the almost pacifist wing of the libertarian movement – if I can call it that these days – have reacted to the demise of this man. After all, such folk often complained that “neoconservatives” who supported the overthrow of Saddam or the Taliban, say, were going beyond just retribution in response to the 9/11 attacks. So what I would ask of Higgs, and for that matter, would-be POTUS Ron Paul, is what exactly do they suggest should have happened in the case of OBL, had by any chance a pristine, moral libertarian regime have managed to find him and track him down? File a lawsuit? Suggest he surrenders to the nearest police station where he can be read his Miranda rights? That was not going to happen: the most probable outcome for a person such as this would be a messy arrest, and the charade of a trial and lifetime jail term/execution, or a firefight. Welcome to reality. Higgs finishes with this:
“Unseemly”. Oh get over yourselves. Here are some more thoughts over at Pajamas TV. I particularly enjoyed Bill Whittle’s comments. I share his take. May 16th, 2011 | 62 comments - (Comments are closed)
 The Daily Telegraph – which in my view continues to go downhill as a newspaper – has this decidedly mixed quality article by Jim White about the alleged evils of a large sporting institution being owned not by its “local community” but, horror of horrors, by a US family living in the sleazy state of Florida, no less. Words such as “leeches” are used. We are talking about the Glazer family, owner of Manchester United. Perhaps someone at that newspaper might gently remind Mr White that the Glazers are of Jewish origin, and that it is not terribly clever to use words such as “leeches”, given the historical demonisation of Jewish speculators as “bloodsuckers”. To be fair to White, I am sure nothing untoward was involved and he got carried away. Even so, this paragraph should have set off some editorial alarm bells:
Mr White struggles to lay out how awful it is that the club, purchased earlier in the ‘Noughties in a leveraged buyout, is now a privately held firm with a large debt interest bill. Indeed, it does seem eye-watering that since the day of purchase, interest charges of around £300 million have been paid on the debt, financed through things like rising ticket prices and the like. And yes, the days when factory workers could watch the likes of Duncan Edwards or George Best in the 50s and 60s for a relative puny sum have gone. There are even software engineers and financiers watching football these days (how vulgar!). But surely, the Glazers bought the club in a free market – no gun was held to anyone’s head when that transaction was made. Mr White does not, as he could have done, argue that the tax rules could be changed so that equity financing is put on a level playing field (excuse the pun) with debt; arguably, some of the more foolish-looking leveraged buyouts that arose just before the credit market debacle of 2008 were encouraged by favourable tax treatment of debt. But he should realise that had ManU remainded a listed business, then the shareholders would want to see return on equity and for those returns to increase. They also want a dividend occasionally. This growth has to come from somewhere. With many sporting institutions, that growth requires things like rising ticket revenues, sponsorship, and the like. I personally think that outside of a few very big sporting institutions, such capital growth is questionable and that sport is subject to all manner of vagaries that make it an unappealing investment, in my view. Now, if Mr White wants to make the case that the state should somehow decide and regulate the ownership of sporting institutions, then he should have the courage of his convictions and argue for sport to be run on socialist principles. Let’s see how far he can go with that. I don’t like much of the modern professional footballing world, and yes, the lure of big money has made some players behave with particular foolishness in recent years. But Mr White should remember that if people really detest the vulgarity of modern sport as much as he claims they do, there is a simple solution. Don’t go to matches and do something more edifying instead. Or even play some football with your kids in the back yard. May 13th, 2011 | 41 comments - (Comments are closed)
The Daily Mash satire site has this beauty of an item on Rowan Williams, the Archbishop of Canterbury. He is the gift that keeps on giving, as Perry de Havilland of this parish noticed a while ago. May 11th, 2011 | 14 comments - (Comments are closed)
We are already pretty well aware of the case of people such as George Soros – the man credited with helping remove the UK from the European exchange rate mechanism in 1992 – who make a killing from financial markets, while attacking liberal capitalism. Another example is Warren Buffett, the so-called “Sage of Omaha” who, now in his 80s, is one of the world’s wealthiest men with an enviable track record for making money over the long term by what is said to be a ruthless, yet almost heartbreakingly simple commitment to “value investing”. Over at the Cobden Centre, one of its writers, Detlev Schlichter has an excellent, and measured piece about the Buffett phenomenon. He respects Buffett’s track record (who wouldn’t?), but has this to say:
Here is something by me recently about the Koch brothers, who certainly do support capitalism. And this recently top US banker is probably one of the most hard-core defenders of laissez faire around. A refreshing break from the norm. May 10th, 2011 | 15 comments - (Comments are closed)
“Anybody visiting the Middle East in the last decade has had the experience: meeting the hoarse and aggressive person who first denies that Osama Bin Laden was responsible for the destruction of the World Trade Center and then proceeds to describe the attack as a justified vengeance for decades of American imperialism.” – Christopher Hitchens on Noam Chomsky. May 10th, 2011 | 23 comments - (Comments are closed)
The film Alexander is playing on my TV at the moment – the Oliver Stone version – and despite some of the sillier aspects, the battle scenes are pretty good. Question: why do so many Hollywood films seem to insist that many of the actors talk with a sort of suppressed Irish accent? We have Alexander talking like Dave Allen. WTF? And of course recently there was Russell Crowe talking in the same manner in the Robin Hood film. I am not complaining too hard, though. For as has been noted, Russell Crowe had to deliver a speech that was pure “Tea Party”. May 9th, 2011 | 28 comments - (Comments are closed)
This has nothing really much to do with some sort of grand political idea or anything, but sport is part of life – however much that upsets anti-sports folk or the plain uninterested – and this man, more than most, enhanced the life of anyone who follows the maddening and beguiling game of golf. May 8th, 2011 | 13 comments - (Comments are closed)
“At the moment, I am very pessimistic about the prospects for the United States solving its fiscal problems without a crisis. Given that we have divided government, a reasonable long-term budget will require a compromise. But the two sides seem to live in alternate universes. The Republicans’ alternate universe is based on the belief that government spending ought not to exceed its historical average of about 20 percent of GDP. You can’t get future spending down to that level, however, without really major cuts in future spending on Social Security and Medicare. Much as I would like to see those programs phased out completely, neither I or nor anybody else can claim to have won an election on that platform. The Democrats’ alternate universe is based on (a) the belief that the rich are not paying their share of taxes and (b) with Obamacare passed, the rise in health care spending as a share of GDP is as good as arrested. So they see no need to change the status quo on entitlements.” I think a crisis is coming. And maybe, in a spirit of schadenfreude, we can finally prove the truth of Naomi Klein’s “Shock Doctrine”, but not in a way she approves of. May 6th, 2011 | 18 comments - (Comments are closed)
In light of the recent killing of OBL and the use by the military of drones and other surveillance gizmos to track down where the villain was hiding out, it is worth noting that these pilot-less aircraft are not just in the hands of military people. You can get some pretty sophisticated ones via the regular commercial market, a fact that is both beguiling for aviation enthusiasts and modellists, and presumably, a bit of a concern for the military who want to keep the airspace all to itself. Chris Anderson, head honcho at Wired, the techno magazine, has his own website devoted to the whole business of building and using the things. Anderson, of course, is also author of The Long Tail, one of those books that I need to read again. On a related theme regarding drones, robots and high-tech in war and defence, here is another reference to a book by PW Singer, that I blogged about the other day in a piece about sea piracy. May 6th, 2011 | 9 comments - (Comments are closed)
This is magnificent:
(Via Division of Labour.) As the DoL blogger says, it reminds me of the old Milton Friedman saying that people tend to be a lot less prudent if they are spending other people’s money. On a flippant note, the point about capes reminds me of that hilarious, Ayn Rand-style character (the designer with the bobbed black hair and East European accent) from The Incredibles, who insisted that for any true superhero, capes were a no-no. They get trapped into the air intakes of jet engines, etc. It pays to be careful. May 4th, 2011 | 17 comments - (Comments are closed)
The US Navy SEALs are a remarkable group of individuals, as events in the Middle East highlight. Here is a book about their training by an author I rate, Dick Couch. In the end, given sufficient force and a pinch of luck, the US was able to get bin Laden. I think that is a very important message to get into the grey matter between the ears of jihadists. I have been reading some comments over at Facebook and elsewhere about how vulgar and unseemly it is for people to celebrate the death of this man. Forgive me if I spare the tears. This won’t bring back all those people killed by his outfit, of course, but a sort of justice of sorts has been done. May 2nd, 2011 | 19 comments - (Comments are closed)
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