• Pinboard Links

    Flap’s Links and Comments for April 18th on 06:22

    These are my links for April 18th from 06:22 to 06:53:

    • Koch Derangement syndrome: Contango Confusion – The basic problem with a site like Think Progress is that its "reporters," ill-informed, uneducated, inexperienced amateurs like Lee Fang, try to write about subjects of which they have no understanding. Worse yet, they slander the very people who do understand those topics–the people who produce products and make our economy go.

      There is another level of irony here. Koch Industries is a classic example of an American company that doesn't just push paper, but actually makes products. Its business is production, not "speculation." Think Progress, on the other hand, is funded by one of the world's most successful speculators: George Soros. Soros has made billions by manipulating markets, without ever producing anything. He is the definitive speculator and market manipulator (in particular, currency markets) of the 20th century. If Soros bothered to read what his minion Lee Fang wrote, he no doubt would burst out in laughter at Fang's ignorance. But that, apparently, doesn't bother Soros. He is happy to promote ignorance as long as it advances his own selfish political interests.

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      Read it all as Power Line blog fisks Lee Fang of Think Progress

    • Koch Derangement Syndrome: De-Fanging Think Progress’ Attack Dog – The name Lee Fang is far from a household name. However, from his perch at the Soros-funded think tank Center for American Progress, Fang has the dubious distinction of promulgating questionable Koch Industries political conspiracies perhaps more than any other person.

      Along the way, Fang has made a laughable number of errors in his reporting on Koch. However, he might have outdone himself with his latest piece on the Kochs' supposedly manipulative oil speculation practices. Over at Powerline, they have thoroughly dissected Fang's article and the level of ignorance exposed is breathtaking. I encourage you to read the whole Powerline post as it gets into quite a lot of detail about commodity speculation, but this addendum to the post should give you a general feel for how bad it it is:

      I wrote the book on manipulation (The Law, Economics, and Public Policy of Market Power Manipulation, Kluwer, 1996). I've also published 10 scholarly articles in economics journals and law reviews on the subject. My next book (Structural Models of Commodity Price Dynamics, Cambridge UP, forthcoming) is all about the determinants of contango, backwardation, storage, etc. Based on 25 years of scholarly research and market experience, I can say that Fang the Farcical knows not the first thing about either manipulation or commodities pricing. You would think that Soros could have found a junior assistant trader to teach Fang the basics. But then there wouldn't have been a story, would there?

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      Koch DerangementSyndrome indeed

    • Card Check: California Moves To Force Unionization On Workers Via Intimidation & Coercive Tactics – In recent weeks, the California state Senate passed legislation on a party-line vote that would eliminate the secret ballot in union organizing elections for farm workers.  The legislation, SB 104 by Senate President pro Tem Darrell Steinberg, would allow farm workers to form a collective bargaining union through a majority sign up – essentially instituting “card check” at the state level.  And of course, Big Labor is ecstatic, trying to portray the vote in the state Senate as a victory for workers.  But sometimes the truth just slips out and the real intentions are revealed.  A key strategist for the farm workers union in California was quoted as saying, “this is about power.”

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      Read it all

  • Pinboard Links

    Flap’s Links and Comments for March 23rd on 09:13

    These are my links for March 23rd from 09:13 to 09:44:

    • California Prison cell phone bill? Wimpy – State Sen. Alex Padilla, flanked by law enforcement officials, stood on the Capitol's steps Tuesday before an array of cell phones confiscated from prison inmates and declared that smuggling had become an epidemic.

      It is, Padilla said, a "clear and present danger to public safety" as inmates use smuggled phones to harass victims and witnesses and plot other crimes. He called to the podium a woman who said she received harassing calls from her husband's murderer.

      Padilla et al. made a compelling case for a crackdown on smuggling cell phones – nearly 11,000 were confiscated last year. But the bill that cleared the Senate Public Safety Committee two hours later is rather wimpy. It makes smuggling nothing more than a misdemeanor, even for prison employees who are the sources of many illicit phones.

      Last year, then-Gov. Arnold Schwarzenegger vetoed a similar Padilla bill – the first anti-smuggling bill to reach his desk after several died in the Legislature – on grounds that it was too weak and that smuggling cell phones should be a felony.

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      Of course, this should be a felony. But, do you really expect any public safety laws to pass while Jerry I appointed Rose Bird Chief Justice Brown is Governor?

      I mean really.

      Brown will start letting felons out of the prisons to balance his budget in order to pay of his union cronies.

      And, when these criminals start reoffending, Brown will either shrug it off or blame the Republicans.

    • The Koch Brothers: Anatomy of a Smear – The Center for American Progress is generally regarded as a front for the Obama administration. Its President and CEO is John Podesta, formerly Bill Clinton's Chief of Staff and the chairman of Barack Obama's transition team. CAP is lavishly funded by George Soros and several other left-wing billionaires. It runs, among other things, a web site called Think Progress, which cranks out a steady stream of slimy hit pieces for the benefit of the Obama administration and the far left.

      Soros apparently believes that only left-wing billionaires should be able to participate in public discourse, so his Center for American Progress, through its web site, has carried on a bizarre vendetta against Charles and David Koch and their company, Koch Industries. The Kochs are two of the very few billionaires who are active in politics on the conservative/libertarian side, a phenomenon that apparently drives left-wing billionaires wild with rage. I'm not sure why; maybe they think the Kochs are traitors to their class. In any event,Think Progress has stalked the Koch brothers with video cameras and produced one false, over-the-top attack on the Kochs after another, some of which we have had fun dissecting here.

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      Read it all