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July 17, 2012


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Rob Crawford

Many farmers sold their seed stock last year...

Sucks to be stupid.

Evil Oil Man

We didn't frack those frackin' wells either00the guar farmers did it.


even more colorful weddings! Time to go out and corner the guar market.

Maybe we can wean the Iowa ethanol lobby out of corn and into guar. But that would leave all the poor Rajastanis poor again. It's Bush's fault!


Partisan YouTube yanks Romney web video over Al Green song, yet the original videos of Obama Singing the same Al Green song remain.


I believe the Romney web video has been restored


TomM/Commenters-- fantastic snark, by all of you. 250 years later, Adam Smith's "Invisible Hand" still move's peoples' behavior from Indian guar farmers to the Dairy Cow farmer in Pa. driving a new pick up truck and buying new milking gear thanks to Marcellus Shale fracking. Adam Smith a genius of economics and human behavior-- 'Bam? not so much.

Danube of Thought

Minus 17 at Raz today.

Trails Romney by 3.


DoT-- the Monday, Tues, Wed 'Bam swoon in Raz continues, within a fairly tight collar. What do you make the range at this point -15 to -18 depending on the day?


What has any of this got to do with Romney releasing his tax returns?

Fracking may also have spoiled some rural water supplies and caused environmental damage in parts of the United States, but it is hard to find anyone in Rajasthan who sees fracking as anything but a blessing.
Whenever I see something like that, I pretty much quit reading. The "may" is what allows them to make allegations without much, if anything, in facts to back up the allegations. It is almost as if the author wished the allegations to be true, but doesn't yet have the facts or science to back up those wishes.

I am much too cynical for this time of day. Sorry.

Rick Ballard

Here's an interesting dependency story explaining why US farmers aren't growing much guar. I wonder what crop insurance costs in Rajasthan?

Melinda Romanoff

There are alternatives to guar, BTW.


Speaking of magic beans;

Captain Hate

I am much too cynical for this time of day. Sorry.

Don't lose that attitude; you understand those apparatchiks well.


This man died last week. His name is Perry Baggs and he was the drummer for Jason and the Scorchers. He was as a very nice and gentle person, who loved, loved, loved to write songs and play them loud. In addition, he had a lovely high sing song voice that he sacraficed to play in the background

The above video is probably his last time on a stage. It was a benefit for him by fans, fellow musicians and any other folks out there who were his friends.


This is a great read -
Demoralized as hell: the Obama Prevent Defense edition


Why is the hand "invisible?"
The exact problem with identity conservative economics is they insist on putting their faith in free market economics as some sort of magic elixir that makes things right.
Why not admit straight up that the benefits of free markets, such as they are, are transparent, concrete and consequential?
Some consequences are good, some are bad. Strip out the mumbo jumbo and the overwrought reverence and look at free market economics is one of many tools and techniques for organizing an economy. It has causes and consequences and it's ludicrous to expect them all to be good...


Speaking of magic beans;

Hah, narciso! That could be the lead-in for every lib idea.
Speaking of magic beans;...high speed trains are the answer to our woes.
Speaking of magic beans;...windmills will provide all our energy.
Speaking of magic beans;...Islam should be respected.
Speaking of magic beans;...having sanctuary cities is a good idea.

Melinda Romanoff

Ah, grasshopper, you overlook the pebble that is insight while throwing rocks.


" market economics is one of many tools and techniques for organizing an economy. It has causes and consequences and it's ludicrous to expect them all to be good..." Let's define terms shall we-- 'free markets' are free people making decisions based on their own resources, abilities and circumstances. those cumulative choices do indeed have consequences, and when those consequences cause externality costs on 'innocent' third parties, those consequences are indeed 'bad' and need to be accounted and compensated for. 'many alternatives" -- I don't think so. The only macro alternative to free markets is a command economy where individual freedom is supplanted.. usually by force.. by elites dictating the allocation of resources and denying free choices. We've recently seen the results of those command economies in Zimbabwe, Cuba, Romania, the USSR and of course North Korea.


Bruce@9:57-- that's not cynicism, that's seeing things as they are.

Danube of Thought

We need to see a lot more of the invisible hand.

Danube of Thought

Anyone who believes that a free market is a tool or a technique should quietly withdraw from the conversation.

NK, I really don't know what to make of Raz's polling. Keeps me scratching my head.

Captain Hate

Rob, sorry to hear that the JEF is in your corner of the state.


... and less of the tyrants, from Mugabe, Kim, Stalin and Ceauşescu, to wannabes like 'Bam and Pelosi..


I just finished Peter Boettke's Living Economics where he reiterated how free markets create wealth and political systems destroy it.

I wanted to add especially political systems that nationally mandate Transformational Outcomes based Education for both K-12 and higher ed. And then want Qualifications Frameworks to coerce private employers.

But a came here to offer the podcast with Paul Kengor over his new book on Frank Marshall Davis.


a rare victory for the littlest of the little guys in global trade.

Yeah, because free trade and free markets have by and large made the masses worse off. /sarc

Melinda Romanoff


Some political systems were designed to enhance free markets.

I read that somewhere.

Once the politicians figure out that a little off the top won't hurt nobody, they next figure they can run it all.


MelR-- remember Benjamin Franklin (the real one) "... a republic Madam, IF YOU CAN KEEP IT."

Melinda Romanoff


I don't remember much, today.

A touch of heat stroke.

And sunburn.



Tactically and strategically they picked a good angle to come in from.

It should have worked.

It would have if the Clintons had not been prevented from full implementation or if gore had won.

It is the delay that is proving so lethal because now you can look to other parts of world for consequences. And you have the declared statements from the 90s out there in used books by people before they knew there would be a delay or controversy as elements were discovered.

Renaming or breaking up will not help once you get that declaration of function.


--Why is the hand "invisible?"
The exact problem with identity conservative economics is they insist on putting their faith in free market economics as some sort of magic elixir that makes things right.--

Adam Smith was not a conservative, "identity" or otherwise, but perhaps if you read him you would understand why the hand is invisible. There is nothing magic about it, but for one accustomed to magical thinking no doubt every concept looks like a nail.

Melinda Romanoff


That last sentence deserves repeating. Well penned, sir.


MelR-- take care of the burn and heat exhaustion. Avoid repeats.

OT-- I am not a basketball fan, and the NBA players turn me off. BTW-- I am a track/field fan, and some of the best public personalities in sports are those athletes giving interviews. Bright articulate and even sweet. Those young athletes put the lie to the NBA thug image. Link below to a story about the NBA players visiting Arlington National. At least Krzyzewski is trying to put a good face on that group, a step in the right direction at least.

Danube of Thought

--Why is the hand "invisible?"

Watch the opening scene of Milton Friedman's "Free to Choose," where he holds up that pencil....


According to fellow customers at the big Indian grocery store nearby, Guar gum is placed in warm milk with honey and butter and given mothers who have just given birth to help them regain their figures. Never tried it, but guar gum is used on other Indian cooking as well

Melinda Romanoff

If it's packaged food, Clarice, chances are it contains guar gum.


Or xanthan (from corn)..Both of which are necessary in making gluten free breads and such..It's a very strong thickener.


I'd like to believe that the poll results indicate that the slime is backwashing its perpetrators.


Ig@10:54-- all very true. Indeed like most of the JOM commenters, Adam Smith was a "classical liberal" who believed in the inalienable (unalienable if you went to Harvard) rights of individual men and women, and that markets are created by those free individuals making free choices for themselves and in combination with other free men and women. Freedom is invisible, but very real and very powerful. That's why tyrants and would be tyrants like 'Bam hate free people they can't control.


Speaking of apparatchiks...I get an occasional email from a group that organizes boycotts over social issues. For example, they are against abortion and gay marriage.
Apparently JC Penney and Home Depot (!) are strongly asserting support for gay marriage. One wonders why, what this has to do with their core business....except they must (like all big companies) have a cadre of commissars with BA degress in their HR Department running diversity, outreach, sustainability, green, giving-back, and other "fairness" initiatives for those companies. Anyway, AFA notes today that--
"J.C. Penney stock crashes with news of gay marriage support
Stock rated "junk" status, loses 50% since February, 350 layoffs at home office
First-year CEO Ron Johnson's decisions have led to disastrous results for the company. Rather than build on the faith-based traditions of founder James Cash Penney, Johnson has abandoned family values and taken the company into a financial tailspin by embracing social activism. ...."

Although I am a live-and-let-live kind of guy, I am troubled by the advocacy of the media and big corporations to support controversial social issues. Why not just serve everyone and do activism in your personal life?


Per the folks art Livestrong that Indian folk remedy has legs:

"Cyamopsis tetragonolobus, better known as the Indian cluster bean or guar bean, is the source of guar gum, a dietary fiber. Supplement manufacturers promote guar gum as being helpful for weight loss. Consult a doctor or pharmacist before taking guar gum or any other type of supplement for weight loss.
Guar gum forms a gel and expands when it contacts liquid, so in the intestinal system, guar gum helps soften and add bulk to stools. Like other types of soluble fiber, guar gum binds with cholesterol in the digestive tract and prevents it from being absorbed, thus decreasing cholesterol levels. It also may help regulate blood sugar. Guar gum increases the feeling of fullness after eating and may prevent the absorption of some dietary fat, according to"

Read more:


Just had delivered the Bloomberg weekly "business week" to my faculty office. Utterly disgusting.


Gee...normally I'm skeptical of radical right-wing ideas like free trade, but if this is a rare case where the voluntary exchange of goods and services does not impoverish someone from a colorful and distant part of the world with lots of culture...and what's this? Who is it bad for?

It hurts Halliburton?

Then it must be good!

Too bad it's associated with fracking, which may cause sexual dysfunction in some urban journalists.

Melinda Romanoff


Which was disgusting,, the issue, or the reaction it generated?


Jim, I'm sure feeling morally superior by adopting these causes beats quotidian concerns like stocking, handling personal and upping market share.



Danube of Thought

Well, it wasn't the opening scene, but it is from the first episode. Here is Milton Friedman and The Pencil. I never tire of it.


Is it possible that Businessweek, has gotten
more inane, since 'Happy Bloomberg' acquired it.


The anti-capitalist dogs won't use the stadium's real name: Bank of America Stadium.

Welcome to 'Panthers Stadium'

A host committee spokeswoman didn't respond to an email. But it's not like the stadium was ever called Panthers Stadium - first opened in 1996, it was Carolinas Stadium, and later Ericsson Stadium. Then the current corporate iteration.

Can Obama merely release evidence that he ever took an economics class?



Melinda Romanoff


Hope you had gloves. And earplugs.


"Panther Stadium" The stadium rights branding deals always include the obligation to the Stadium owner to use the Sponsor name for ANY activity the stadium owner uses the stadium. That's why you get the odd sounding commercials like "The Rolling Stones Metlife Stadium Concert" instead of Roling Stones in NJ. Did BoA affirmatively waive its contract rights here. Sure sounds like it; Cronyism at work.


Mel and suburbangal, can you clue us into what you're talking about?

Tom Maguire
--Why is the hand "invisible?" Watch the opening scene of Milton Friedman's "Free to Choose," where he holds up that pencil....

Either (a) the hand was invisible in Adam Smith's day but superior modern technology has captured images, or

(b) invoking "None so blind as he who will not see", the hand remains invisible to committed statists like Obama.

Not exclusive choices, natch.

Melinda Romanoff


She got a delivery that she posted about, here.


Why not just serve everyone and do activism in your personal life?

Amen, Jim. Now there's an idea.

Danube of Thought

In California, the Invisible Hand is the public employee unions:

SACRAMENTO, Calif. (AP) — The nation's largest public pension fund collected a dismal 1 percent annual return on its investments, a figure far short of projections that will likely bring pressure on California's state and local governments to contribute more money, officials said Monday.

The return reported by the California Public Employees' Retirement System was well below its projected return of 7.5 percent for the fiscal year that ended June 30 and is prompting administrators to consider changes to investment strategies.

The investment returns are critical because taxpayers are on the hook for the difference if the pension funds fail to meet their performance targets.

"The last 12 months were a challenging period for all investors," chief investment officer Joe Dear said about the stock market's performance amid the ongoing European debt crisis and slow global economic growth.

The fund was most impacted by a 7 percent drop in returns on global equities. Half the pension's assets are in public equities, Dear said.

Unexpected. I don't know when this whole business is going to come to a head, but I do know that it is very certain to do so.


She got a delivery

I saw that, but still don't know what's disgusting. It wasn't obvious from the BW website.

Tom Maguire
Fracking may also have spoiled some rural water supplies and caused environmental damage in parts of the United States, but it is hard to find anyone in Rajasthan who sees fracking as anything but a blessing.Whenever I see something like that, I pretty much quit reading. The "may" is what allows them to make allegations without much, if anything, in facts to back up the allegations.

But this is in the Times, so to get a story that says something good about fracking past the editors, and to pre-empt a reader revolt, a 'to be sure' paragraph like that is mandatory.

The NY Times comment section does feature a lot of frack-bashing and "hey, dude, where's my water", but I am stealing this:

Interesting news! Beans help produce more gas :)

I don't know how I missed that...


TomM-- are we to understand that you read a NYT online article AND the comments? You may want to lay down for a while after such an ordeal-- better you than me brother.

Tom Maguire

I had just come back from the dentist, so it was a good chance to compare the two experiences. FWIW, I will be going back to the dentist...


... but will you ever read the NYT again?

Captain Hate

Coupe Deval on transparency:


CH-- thanks for the link Deval Patrick (Mini-Once) is one of those would be tyrants that hates free people.

J. Fred Muggs

Its pretty simple presentation by a guy who looks like he prefer to be cooking Meth but this video shows how the use guar gum in the tracking process.


I think one of the huge contaminants in these Big Business/Social Activism nexus comes out of the Business Roundtable and Philanthropy Roundtable efforts to propagandize these managers. Usually in really nice settings that add to the managers' sense that the views expressed are the views of the elite. And he or she is now privileged to be a part and they need to show they understand by going along.

It relates to the post in the LUN I wrote yesterday where the managers are unlikely to have the knowledge of history or economics or political theory to pick up on the problems or fallacies about what they are being told.

If the managers are not from established Big Business then the Gates or Home Depot founders have set up foundations and those managers interact with the business managers about what they are hearing at the PR events. I have read reports on how to influence these officials. Taking candy from a baby is more difficult.

I always love the part where they note the nicer the place where you hold a retreat to spread the desired memes, the better it works. People want the chance to return to 4 and 5 star resorts at someone else's expense. They know what they are to do to gain those desired invites.

That's why these tax free foundations keep these sites when it's not a fancy resort. All plush with many amenities.


Cut it out Reply.


News from the Nutmeg State-- another one bites the dust, Norden Divison (300 jobs) of Northrup/Grumman leaves Ct for parts unknown. Norden, nee Norden Bombsights started in NYC, then White Plains and then Norwalk as part of United Aircraft (F6U Corsair fame.) Now gone, drunken Dan Malloy is a boon to business in Ct- heh. When the last business leaves Ct, please turn out the lights:

Jim Rhoads a/k/a vjnjagvet

BZ to TM for the new format.


Rivers overflowing with milk and honey, rse.

QURAN 37:40-4 : "In the Gardens of Paradise, Facing one another on thrones, Round them will be passed a cup of pure wine; White, delicious to the drinkers, Neither they will have any kind of hurt, abdominal pain, headache, or sin, nor will they suffer intoxication from it. And with them will be chaste females, restraining their glances, with wide and beautiful eyes."
Captain Hate

Is typhus's artificial unintelligence having a tantrum again?


Suddenly, my narcisolator isn't working and it looks like we have a new comment style with the ability to "reply" - ugh hate that feature on other blogs.

What the heck is going on? Is TM "new and improving" the comment feature?


BravoZulu for the new format? I was thinking MAYDAY myself.


Maybe TM testing out putting the poster's name first. The problem is, it shrinks the width of posts from about 3 3/4" to around 3".


Ack! The narcisolator doesn't work in the new format, at least for blocking avatars and going straight to the last page. Out with the new, in with the old!


Here's a reply, cc.


I'd bet the "new format" is TM's effort to put the poster's name at the top of the post. It makes it easier to SOB.


Has anyone clicked on the "Reply" name? It deletes everything beneath the "click" but if one refreshes it all comes back.

It does not appear to be Typepad origination but a hack like what bgates narcisolator does.

Jim Rhoads a/k/a vjnjagvet

Don't think so. CH. New format easing the ability to skip on by those comments you want to skip on by.


Ah, now I see what Typepad is doing...


If you go to the previous thread, you'll see that in this format you can no longer go straight to the last page, you have to page through by hitting "more comments" at the bottom. Ugh.


You mean soaring social issues are more exciting than actual work? Who knew! :)

Hey, the commenting system has changed...there is a "reply" button.
Now I will no longer reply to DuDa since my brilliant riposte will disappear when his bloated comments are deleted :)

Rick Ballard

"Is TM "new and improving" the comment feature?"

At first glance it appears to be a matter of "I wonder what this button does?".


Quick - rewrite the Narcisolator. Preservation of the time-space continuum depends upon your efforts.

Captain Hate

Thanks Jim; I like that part but everything else seems to be sucky, including a preview I just tried. CHANGE WE CAN BELIEVE IN!!11!




Captain Hate

I've gotta admit that I like the reply thingy sticking comments under the appropriate one. It's like typhus has entered into 90s era software.


Mayday, Mayday....!!


What's with the "reply?" We've been able to reply just fine up to now.

J. Fred Muggs

Potus' new balls:

Captain Hate

New and improved:


Hey, Muggsy, are you a Yankee fan from Ct.?


Schumer-- he is as much to blame as anyone for the lousy economy and Fed Debt disaster, and he now tries to shove this disaster all onto hapless Ben Bernanke. Luckily, no QE3 in sight-- yet!:


Maybe I just misheard the lyrics, but wasn't there an Edwin Starr song in the early seventies,

"GUAR! (dunh-dunh-duh dunh-dunh-duh) WHAT IS IT GOOD FOR?! Absolutely nothin'... say it say it again, GUAR! etc., etc."

J. Fred Muggs


Not me, I live in a basement cage at 30 Rock in The Big Apple.

But I like bananas and bow-ties.

Henry X

That Freidman Pencil clip was good, but I enjoyed even more his "Responsibility to the Poor" clip that was on the same page. Some lefty student in the crowd asked about responsibility to the poor. That was in 78, now 44 years later, government programs have made the situation even worse.


Earlier today, someone asked how it felt to scan the NYT for worthy nuggets. TM mentioned the dentist, someone made light of that answer.

Now TM is going to make us suffer, so we KNOW how he feels when digging into the passive aggressive world of Timespeak.



Apparently Muggsy isn't, but obviously our fine host (and comment format saboteur) TomM is. I wonder if the format change had anything to do with TomM's dentist appointment. Maybe he's loopy on happy gas?


Let's throw some tea in the harbor.

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