Tag: bankruptcy

Fast track trade authority passes in House

10:03 am

The House today passed a revised fast track authority bill for any trade bills that President Obama might negotiate.

This bill did not include the job training section that was defeated last week and that the Senate included in its version of fast track. Thus, the Senate must now vote again on fast track, this time on the House-passed version. It is unclear whether the Senate will agree, as Democrats have opposed fast track without the jobs aid.

Overall this whole incident illustrates how misguided our elected leaders are. Right now we have much bigger problems than negotiating a new trade agreement, especially considering the secrecy in which Obama wishes to complete that negotiation.

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The complicated status of Obamatrade in Congress

9:31 am

Link here. To sum up, the fast track trade authority for Obama actually passed, but the companion part of the law, dubbed TAA, failed badly. Since the Senate had passed both, the approved law needs to go back to conference so that both houses pass the same bill, or the House can vote again on the portion that was defeated.

That the House leadership is still fighting for this considering the strong opposition from the voters as well as from their own caucus tells us how little they understand the present political situation.

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Things look bad for Obamatrade fast track

9:45 am

It is early and the vote hasn’t yet happened, but it appears that the House is going to reject fast track trade authority for Obama.

I need to provide some clarification. This fast track authority is not an actual trade bill, but a procedure that has been used since FDR to make the negotiation process on trade bills easier for the president. For some reason Congress needs to now renew it for Obama.

That Congressmen from both parties are reluctant to renew this grant of presidential power indicates a shift of political power back to Congress. The argument, that this power has been routinely granted since FDR, is not carrying the weight it once did. Instead, there is movement to refuse the president this extra power, partly because there is distrust of Obama because of his abuses of power and executive authority and partly because the voters have elected a lot of new congressmen who in general just don’t like giving presidents more power.

Expect this shift to increase in the coming years. It appears to me that this battle over fast track might be a very positive sign for the future.

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“It’s declassified and made public once it’s agreed to.”

9:43 am

Does the quote above, said by Congressman Paul Ryan (R-Wisconsin) during debate over the secret Obamatrade bills, remind you of anything? Weren’t we forced to try this dubious legislative approach by Nancy Pelosi (D-California) and the Democrats with Obamacare?

Finding out what was in it after Obamacare was made law has very clearly turned out to be a disaster. The last thing the Republicans should be doing now is to repeat this corrupt practice themselves.

Update: Support for this foolishness in the House appears tepid at best:

According to The Hill, only 116 Republicans and 19 Democrats in the House are committed or leaning to supporting the bill, while 130 Democrats and 29 Republicans are committed or leaning to opposition. That leaves 139 up in the air, most of them Republicans. To get to 218, Boehner and Pelosi will have to find at least 82 more votes out of the 139, a tall order indeed.

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The crooked politics behind the Obamatrade deal

11:13 pm

And the crooked politics are coming mostly from Republicans, including Senator Ted Cruz (R-Texas) and Paul Ryan (R-Wisconsin).

The problem here isn’t the bill itself, it is the manner in which Obamatrade is being enacted, written in secret and classified so that the public cannot read it. No elected official should vote for any bill or law that is not available for the public to read and review. Yet these guys are pushing it, a law that apparently will cede more power to the President at the expense of Congress. Knowing the language of such a law is critical.

It does appear that a growing number of Republicans in the House are going to oppose this travesty. I pray that enough come forward to stop it. And if the vote is taken and there are any Republicans who vote for it, such as did Cruz and Rubio (who hadn’t even read it), they will reveal themselves to be wolves in sheep’s clothing, not to be trusted.

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The collapse of Russian scientific innovation

9:13 am

Link here. This report documents much of what I have been seeing in the Russian space industry: an aging workforce, a lack of innovation, and concentration of power to Moscow and the central government, and an exodus of the best minds to other countries.

It appears that all of the solutions that have been imposed by Putin’s government are exactly the worst things you could do and will only make the problems grow with time.

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Want a law passed? Bribe your Senator!

12:30 pm

Good work if you can get it: A survey of the Senators who voted for the secret fast track trade legislation — whose language has still not been published for the public to read — has found that they all received huge donations in the past few months from businesses that support the legislation, while the law was being written and voted on.

Some were Democrats who held back until they got a lot of cash donations, then voted yes. Some were Republicans who took the money up front and then wrote the legislation. All told more than a million dollars in bribes were handed over to senators to guarantee their “yay” votes.

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The long term decline in the United States’ GDP

12:01 am

This article begins by focusing on the low GDP numbers that have plagued the Obama administration, but I think this fact is far more significant:

Under previous presidents, real GDP sometimes grew massively during the first quarter. In 1950, under Truman, for example, GDP grew at an annual rate of 16.9 percent in the first quarter. In 1955, under Eisenhower, it grew at a rate of 11.9 percent. Under Johnson, in the first quarters of both 1965 and 1966, it grew at a rate of 10.2 percent. Under Nixon, it grew at 11.1 percent in the first quarter of 1971, and 10.2 percent in the first quarter of 1973, it grew at 10.2 percent. Under Ford, in the first quarter of 1976, it grew at 9.3 percent. Under Reagan, in the first quarter of 1984, real GDP grew at a rate of 8.2 percent.

But since 1984—more than three decades ago–there has been no first quarter, in any year, under any president, when real GDP grew even as fast as 5.0 percent. The closest it came was in the first quarter of 2006, when George W. Bush was president, and it hit 4.9 percent.

Note the trend downward, from 16.9% to 11.9% to 10.2% to 11.1% to 10.2% to 9.3% to 8.2% to less than 5%. The only significant other dominant social change during this seven decade period has been the steady rise of the federal government and its crushing regulatory control over all aspects of American life and business, regardless of which party has been in power. We should therefore not be surprised that there has chronic decline in the U.S.’s economic might during this time period. You can’t create new wealth if everything you do is increasingly supervised by a centralized bureaucracy that knows nothing about your business — but thinks it does.

And obviously, the solution is bigger government. Yup, that’s the answer. Just ask the Soviet Union, or Democratic Presidential candidate Bernie Sanders!

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Russian rocket now garden furniture in England

5:36 pm

A British businessman has purchased a discarded Russian rocket and installed it in his garden as decoration.

Almost 40ft long and weighing five tonne, the rocket was first flown in 1991 after being built by the Russians in collaboration with NASA at a cost $10 million. For ten years it held the record for the fastest ever made-made machine before it was jettisoned as archaic.

Somehow it ended up at a car auction at South Marston where it was spotted by Mr Sweet while checking out vintage motors. Mr Sweet, who runs the Cirencester-based computer company Zycko, said: “I saw it for sale at a car auction and decided to buy it, not really knowing what I was going to do with it.”

I am curious how the rocket had ended up being owned and offered for sale by a UK company that “specializes in car restorations.” I also wonder if this might be a major new profit center for the struggling Russian rocket industry.

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Secret Service tries to steal $115K from a business couple

11:23 am

Theft by government: The Secret Service seized a business couple’s bank account with no warning merely because they had withdrawn just under $10,000 several times.

After months of litigation against the United States government, Assistant U.S. Attorney Stephen West moved to dismiss the case earlier this month, meaning the Bednars will get their money back. However, the government refused to cover the Bednar’s $25,000 in legal fees, which the couple is entitled to under the Civil Asset Forfeiture Reform Act. Though the fight to get their $115,000 back is now over, the family is continuing to push to have their expenses covered. [emphasis mine]

First the government tries to steal their money. Now, it is trying to ignore the law by not paying their legal fees, even though the law requires it to.

But hey, we all know the best solution to all our problems is the government!

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Corruption in the Russian space industry

8:52 am

A slew of stories in the Russian press today illustrate again the deeply ingrained problems that country has, both in corruption and in its ability to produce a quality product.

The last story describes the overall scale of the corruption, which is not confined just to the space sector, but can be found in many industries. The aerospace industry just happens to be the most visible outside Russia, and thus the most embarrassing. Yet,
» Read more

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Patriot Act renewal fails in Senate

9:37 am

A victory for freedom: Due largely to the effort of Senator Rand Paul (R-Kentucky), the Senate failed on Friday to pass even a one day extension of the Patriot Act.

The failure was a major defeat for Republican Senate leader Mitch McConnell (R-Kentucky), who had pushed for a full renewal that kept in place all of the government’s spying programs created under the law.

I would not be hopeful, however, that we have seen the end of this unconstitutional law. I fully expect the Senate to agree on Monday to the House bill, which puts restrictions on the spying but still keeps many of the Patriot Act’s intrusive features.

More on this political battle here.

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Celebrating the death of the mainstream media

7:41 pm

The rage builds.

[M]embers of the mainstream media are presumptively hacks, and the pain and misery they endure as their organizations convulse and die should inspire laughter and joy. Sure, there are honest reporters out there, but that’s only a fluke of statistics. There have to be some, if only because of the random vagaries of chance. They can get real jobs with the new media. But in general, MSM members’ pain is our gain.

Remember, they hate us. Hate us. They don’t merely not care about us. They don’t simply misunderstand us. They hate what we think. They hate how we live. They hate what we believe. They hate us.

And it shouldn’t come as a shock if we hate them right back. We normals have already started an unofficial, uncoordinated boycott of the mainstream media.

Read it all, and remind yourself that ABC News considers it perfectly acceptable for their lead anchor to contribute big bucks to the Democratic Party. This is also the same network that is working hand-in-glove with the communist dictatorship in Cuba to spread their propaganda.

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NASA announces bold plan to still exist by 2045

8:50 pm

Heh.

“It may seem impossible now, but we hope to realize the vision of establishing a human presence in NASA deeper into the century than ever before imagined,” Bolden added.

When questioned about the plan’s viability, Bolden told reporters that while certain doubts remain, the project was nonetheless an absolutely crucial undertaking for NASA. Bolden further emphasized that the Fortuna Program’s goal was technically achievable on paper, and could feasibly be accomplished in a real-world scenario so long as everything “goes perfectly” for the space agency.

“The first critical step toward reaching our goal is to still be here by the year 2020,” said Bolden, adding that the plan allowed absolutely no room for error. “From there, we will move on to the next phase of the mission, which is to implement an intensive 10-year plan to remain operational. If we meet that goal in 2030, then there’s no reason to believe NASA won’t make it to 2045.”

Read it all. As far as I can tell, there really hasn’t been much difference between NASA’s past two decades and what this Onion piece proposes for NASA’s next three decades.

In fact, after you read the Onion piece above, then read this Orbital ATK press release about the successful results from the solid rocket booster test firing in March. As successful and as legitimate as the engineering was for the booster test, why does the press release sound so much like the Onion article?

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Tory Party unexpectedly wins big in Great Britain

5:05 pm

The rage builds: Conservatives in Great Britain have won a much larger victory in today’s election than polls or pundits had predicted.

The article attributes the surprisingly big win to a variety of factors. Yet, this election reminds me of the Israeli election, which the polls and pundits all said would be a tie, or go to the liberal parties. Instead, Netanyahu’s rightwing party won big.

Both elections, plus other recent elections in the U.S., suggest to me that there is a growing disconnect between the electorate and the intellectual class who makes these predictions. With such a disconnect, don’t be surprised if the candidate who wins the election in 2016 is the one who is least liked by that pundit class.

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Obamacare exchanges in trouble

10:03 am

Finding out what’s in it: Nearly half of the Obamacare exchanges that were set up by state governments are in financial trouble.

Many of the online exchanges are wrestling with surging costs, especially for balky technology and expensive customer-call centers — and tepid enrollment numbers. To ease the fiscal distress, officials are considering raising fees on insurers, sharing costs with other states and pressing state lawmakers for cash infusions. Some are weighing turning over part or all of their troubled marketplaces to the federal exchange, HealthCare.gov, which is now working smoothly.

Note how the only solution suggested is to raise fees, which will end up raising the costs for consumers. These exchanges cost billions to set up, and even now do not have enough money to work right? I am not surprised, as they are a government monopoly, just like the entire Obamacare law, with no competition or incentive to do better. The result is increased cost of medical treatment, with no benefits for anyone.

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The building rage is not just against Democrats

10:00 am

People who read my website only intermittently might get the impression that I am partisan and specifically hostile to the Democratic Party. This is false. I am an equal opportunity opponent to anyone that likes oppression and the use of government to impose it.

Some stories today, describing the actions or opinions of some of the so-called conservative or moderate leaders of both the Republican and Democratic parties, illustrate clearly that we still need a major house-cleaning in Congress if we are to get this out-of-control monster under control:
» Read more

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Liberals may regret their new rules

9:40 pm

Link here. Two quotes:

Which brings us to America in 2015. It’s becoming a nation where an elite that is certain of its power and its moral rightness is waging a cultural war on a despised minority. Except it’s not actually a minority – it only seems that way because it is marginalized by the coastal elitist liberals who run the mainstream media.

Today in America, we have a liberal president refuses to recognize the majority sent to Congress as a reaction to his progressive failures, and who uses extra-Constitutional means like executive orders to stifle the voice of his opponents. We have a liberal establishment on a secular jihad against people who dare place their conscience ahead of progressive dogma. And we have two different sets of laws, one for the little people and one for liberals like Lois Lerner, Al Sharpton and Hillary Clinton, who can blatantly commit federal crimes and walk away scot free and smirking.

Today in America, a despised minority that is really no minority is the target of an establishment that considers this minority unworthy of respect, unworthy of rights, and unworthy of having a say in the direction of this country. It’s an establishment that has one law for itself, and another for its enemies. It’s an establishment that inflicts an ever-increasing series of petty humiliations on its opponents and considers this all hilarious.

That’s a recipe for disaster. You cannot expect to change the status quo for yourself and then expect those you victimize not to play by the new rules you have created. You cannot expect to be able to discard the rule of law in favor of the rule of force and have those you target not respond in kind.

And this:

When you block all normal means of dissent, whether by ignoring the political will of your opponents or using the media to mock and abuse them, you build up the pressure. In 30+ years as an active conservative, I’ve never heard people so angry, so frustrated, so fed up. These emotions are supposed to be dissipated by normal political processes. But liberals are bottling them up. And they will blow. It’s only a matter of how.

Liberals need to understand the reality that rarely penetrates their bubble. Non-liberal Americans (it’s more than just conservatives who are under the liberal establishment’s heel) are the majority of this country. They hold power in many states and regions in unprecedented majorities. And these attacks focus on what they hold dearest – their religion, their families and their freedom.

What is the end game, liberals? Do you expect these people you despise to just take it? Do you think they’ll just shrug their shoulders and say, “Well, I guess we better comply?” Do you even know any real Americans? Do you think you’ll somehow be able to force them into obedience – for what is government power but force – after someone finally says “Enough?

Read it all. I can’t quote it all, but every word carries a wisdom that the left — as well as the status quo Republican establishment — better heed before it is too late.

As I’ve said before, the rage is building.

I am also reminded of this scene, below the fold, from the 1966 masterpiece A Man for All Seasons:
» Read more

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More strikes at Vostochny

9:09 am

Another worker strike has broken out at the new Russian spaceport at Vostochny by workers who say they have not been paid their wages.

The strike itself is not the significant fact here. The significant fact is that even though the project has been under the close supervision of Putin himself since September, the wages were still not paid. Supervisors have been pocketing wages even as very high Russian officials have been publicly demanding that they get the construction back on schedule. And this story suggests that they continue to do so.

The entire situation implies a very extensive level of corruption at all levels of the Russian infrastructure, something that will make it very difficult for them to accomplish much in their future efforts in space.

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Destroy a building rather than let a charter school use it

11:52 am

A Michigan school district, strapped for cash, preferred demolishing an empty school building rather than sell it to a private charter school for several million.

The district eventually backed down to public pressure and made the sale, but this story is very instructive. You have to watch the video report at the link to find out who really led the opposition to this sale, and why. I wonder if you can guess.

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