“When someone asks him how his day is going, Jack replies, “Previously, on 24…”
I came across this line here.
There are some hilarious one-liners in here.
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November 30th, 2009 | 4 comments - (Comments are closed)
 Following on from Michael Jennings’ item about how science research is actually conducted, I was reminded of a post I did several years ago about a fine Gregory Benford book that drew very much on the issue of political game-playing and science research. Timescape is a fine novel, and will resonate with those bemused by the antics of AGW alarmists and their media cheerleaders. November 26th, 2009 | 3 comments - (Comments are closed)
Alice Thompson is a bit of an economic dunce, isn’t she?
Let’s unpack this. I read the entire, dreadful piece and it occured to me that Ms Thompson is wedded to the notion that if an activity – such as hedge fund arbitrage – cannot be immediately explained in terms of some physical good or easily understood service – like laundry – then it must be suspect in some way. She does not necessarily endorse all of the anti-market sentiment expressed by others she quotes in her article, but the overall tone is unmistakable. It is also a reminder that there is much hostility to banking, finance and the market on parts of what I might call the Right as among the Left, crude though such terms are in terms of political mapping. Of course, it is true that the size of the financial services industry has been arguably swelled beyond what is healthy by decades of ultra-low interest rates, which have caused an increasingly manic hunt for yield, leading to the whole alphabet soup of acronym products associated with the credit crunch. But that is not the point that Ms Thompson is making. She seems to be saying that banking per se, when set against other kinds of economic activity, is wrong or morally dubious, and that we’d be better off without it. But whether “we” (who?) would be “better off” with a different mix of economic activities is something of a subjective judgement, not something that can be modelled according to some sort of utilitarian calculus. For instance, should banking make up 5%, 10%, or 20% of an economy’s gross domestic product? How much is too big or too small? Surely, in a proper market without artificial barriers to entry and without the distortions of central bank rates, regulations and the like, the size of banking as a sector will vary depending on the shifting sands of consumer preferences. That is all. I am not suggesting that Ms Thompson take in all these points in a brief column for a newspaper, even if she had a clue about economics. But frankly, when I read yet another version of the centuries-old slur against speculators and “middlemen”, even if dressed up in the slightly “gosh how awful” tones of a rightwing female columnist, I think it is necessary to kick the offending author in a sensitive part of the anatomy. If Britain loses its edge in financial services due to a rash of bad legislation, heavy taxes and the rest, this nation is in trouble. The exodus is already well under way. November 25th, 2009 | 28 comments - (Comments are closed)
This story, in The Times (of London), caught my eye:
Chatty theatre-goers are very irritating. I am sure that readers can understand how annoying it is to sit in front of a noisy person while watching a film, or listening to a concert of a certain type, etc. Usually, the theatre/venue relies on the audience being sufficiently well-mannered to behave, but in this increasingly infantilised culture, I notice that there tend to be more and more signs and instructions, such as telling people to switch off their mobile phones, etc. Of course, when such venues are privately owned, the owners can set whatever restrictions they want and hope that customers accept them – if they do not, they will go elsewhere. So if a steward working in a cinema, say, observes a couple chatting away, using their phone, eating loudly or being generally boorish, they should be able to chuck them out without a refund. But while the circumstances of this case I mentioned are in dispute, it does appear that this actor is particularly sensitive to perceived noise or interruptions. He sounds as if he is not cut out for live performances. Better take up something less stressful, old chap. November 25th, 2009 | 8 comments - (Comments are closed)
Good grief, it seems as if one of the main doomongers in the MSM, George Monbiot – known in these irreverent blogging shores as George Moonbat – is feeling a bit angry and let down by the revelations of those emails connected to the University of East Anglia’s climate research unit. To give GM credit, he’s been more blunt about his anger than many of them might be, so fair play to him. But as Bishop Hill comments, Monbiot’s comments point to his gullibility. As as been noted before, we free market types would be far kinder towards the Greenies if so much of their agenda was not intertwined with a desire both to load up more regulations and taxes on us. The antics of scientists allegedly trying to bury inconvenient evidence are not harmless: these people have consequences. There is, in my view, a continued genuine core of necessary work that needs to be done in trying to map Man’s impact on the climate and figuring out what is the best way to cope with it. It is a mistake for free marketeers to take the lazy assumption that AGW is not something one needs to be concerned about. But there is no doubt – maybe it is just the recession – that some of the fizz, some of the moral superiority, of the AGW alarmist crowd has gone. AGW alarmists might be less quick to dub anyone who doubts their views as “deniers”. As far as the interests of genuine scientific understanding are concerned, that is a definite improvement on where things were a a few years ago. November 24th, 2009 | 24 comments - (Comments are closed)
I first wondered whether this story was a spoof, but it appears not to be so. November 23rd, 2009 | 8 comments - (Comments are closed)
I recently read David Friedman’s latest book, A Future Imperfect, and thoroughly enjoyed it. He has now posted a series of lectures he has given at different venues, touching on many of the subjects in the book, as well some that were not in the book. Subjects, for example, such as encryption, copyright, how technology is changing legal systems, society, our view of family life, and the like. Definitely worth downloading some of these lectures if you have the time. Ideal for playing on the MP3 player on the way to the office. A definite improvement on listening to the BBC’s Today programme, that is for sure. In the meantime, here is a quote from the book that I particularly liked. It is about nanotechnology and some of the fears people have, including the “grey goo” issue:
(page 272.) November 22nd, 2009 | 4 comments - (Comments are closed)
I suppose it says something about The Daily Telegraph’s admirable commitment to freedom of speech that it let this comment I paste up below through, or possibly, the laxness of its editors. Following a comment piece about the forthcoming trial of the alleged mastermind of the 9/11 attacks, we get this remark, by someone dubbing itself “Lord Barnett”:
This character repeats the trope that Israel has “stolen” land from others, that it is a terror state, and that its fear about Iran’s having nuclear weapons is somehow groundless or unfair. This moron presumably is deaf to the fact that from the time of its founding, various Arab powers have been vocal in their desire to crush this relatively tiny state; he – I assume it is a he – is deaf to the fact that Iran is led by a man who is openly in favour of wiping Israel out. As I said, it is perhaps right for the Telegraph to let people like this rant and rave about the Jews, Israel, blah-blah. It is sometimes salutary to be reminded of the depths of hatred and ignorance that exist in the breasts of those who wish that country and the Jewish people harm. It pays to know that there are enemies out there, if only to encourage continued vigilance. About the only half-truth admitted by this idiot is the point about Western backing for Saudi Arabia. That remains, in my book, a serious failing of Western foreign policy. The sooner we can reduce our use of oil from that nation – which has financed a good deal of anti-western terrorism – the better. November 20th, 2009 | 42 comments - (Comments are closed)
I wonder what Patri Friedman, moving light in the Seasteading Institute and an advocate of the idea of creating new nations, makes of this story. Sealand is one of the longest-running attempts to create a micro-state. It is off the Suffolk coast, based on an old anti-aircraft tower. The article, by the local newspaper in the East Anglian region, contains a nice photo of the place. I suspect that if Sealand ever provided services – such as totally encrypted financial service facilities – then a tax-hungry UK would not demur at sending over a frigate to shut the place down. But the guy who set up this place has been known to defend his territory vigorously. For a supposed old eccentric, he’s held out remarkably well. November 19th, 2009 | 19 comments - (Comments are closed)
The “watermelons” – green on the outside, red on the inside – can sometimes be uncomfortable elements, prone to occasional frictions. The old left, with all its many faults, did at least favour industry and material wealth. And the cause of wealth creation can clash with the Green agenda, though let it be noted that the best way to tackle environmental problems, in my view, is for us to get as rich as we can. Well it seems that the liberal-leftist film director and actor, Robert Redford, has caused some sharp intakes of breath among the climate change alarmists by airing a “denialist” movie at his Sundance TV channel. Enjoy! (H/T: Big Hollywood). An earlier version of this item referred to the Sundance Festival, not the TV channel. My error. November 18th, 2009 | 4 comments - (Comments are closed)
This comment on the current Speaker, of the House of Commons, John Bercow, who is generally regarded by many people as a slimeball of the first order:
There is a passage in F.A. Hayek’s The Road To Serfdom where the great man writes about how “the worst get on top” in political systems where there are few restraints on power. Mr Bercow validates that theory most admirably. Oh, and Brian Micklethwait, like me, has met Bercow. He’s not a fan. November 18th, 2009 | 6 comments - (Comments are closed)
Via the Cobden Centre, a relatively new think tank that focuses on banking and money from the “Austrian” point of view, here is a nice article by James Tyler. He sets out how to avoid past problems and what to do about banking and money. I still think that fractional reserve banking, so long as it is openly stated and so long as legal tender laws are scrapped, is not necessarily an evil. If a person deposits money in an FRB that advertises itself as such and if he takes out commercial insurance to cover a potential disaster, then in a free market based on consent, I am not sure that FRB should be made illegal. For sure, a bank that claimed to be a 100% reserve bank that was in fact, not fully covered, should be prosecuted for running a fraudulent business. But that is simply a case of obtaining money by deception, an offence covered in existing law. As is so often the case, I think that some of our current woes could be ameliorated, if not solved, if we enforced the basic Common Law of this realm rather than endlessly creating new rules instead. But then I guess that would give politicians nothing much to do, would it? November 18th, 2009 | 30 comments - (Comments are closed)
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