Professor Obama chimes in on the "irreversible momentum" of clean energy, yet seems to indicate that future policy choices will influence our eventual energy path.
So, is the momentum for clean energy irreversible unless it is reversed? I'm not sure what I am being told here. Nor can I guess at his intent. If his goal is to take the pressure off Trump and talk the Hillary/Obama crowd in from their various window ledges, I suppose a "Trump Doesn't Matter" essay might make sense. or maybe he is hoping to persuade the international community of that notion.
Who knows? And, after checking the calendar, who cares? I'll guess at another motivation - since this paper is nicely foot-noted and appears in "Science", maybe Prof. O is hoping to snag another Nobel Prize on his way out the door. Bookends!
SINCE YOU ASK: NO, the word "fracking" does not appear. Waddya, kidding? He does acknowledge that US carbon emissions fell while the economy grew in part due to a shift to natural gas from coal, without using the five letter word:
Since 2008, the United States has experienced the first sustained period of rapid GHG emissions reductions and simultaneous economic growth on record. Specifically, CO2 emissions from the energy sector fell by 9.5% from 2008 to 2015, while the economy grew by more than 10%. In this same period, the amount of energy consumed per dollar of real gross domestic product (GDP) fell by almost 11%, the amount of CO2 emitted per unit of energy consumed declined by 8%, and CO2 emitted per dollar of GDP declined by 18% (2).
The importance of this trend cannot be understated. This “decoupling” of energy sector emissions and economic growth should put to rest the argument that combatting climate change requires accepting lower growth or a lower standard of living.
...
The IEA noted that “There have been only four periods in the past 40 years in which CO2 emission levels were flat or fell compared with the previous year, with three of those—the early 1980s, 1992, and 2009—being associated with global economic weakness. By contrast, the recent halt in emissions growth comes in a period of economic growth.”
...
The American electric-power sector—the largest source of GHG emissions in our economy—is being transformed, in large part, because of market dynamics. In 2008, natural gas made up ~21% of U.S. electricity generation. Today, it makes up ~33%, an increase due almost entirely to the shift from higher-emitting coal to lower-emitting natural gas, brought about primarily by the increased availability of low-cost gas due to new production techniques (2, 15).
Mysterious "new production techniques.
Obama also explains that public policy must continue to incentive businesses to improve their bottom lines by conserving energy, since businessmen (and women! Also, the gender-fluid) can't figure out for themselves that cutting costs and reducing the efficiency of their energy usage can improve the venerable bottom line. Yeah, I don't know why these business leaders are so foolish and short-sighted either, but thank heavens a former (and failed) community organizer is here to help straighten them out.
You cants make this stuff up.
The Hill
The Hill – Verified account @thehill
Dem lawmaker to file criminal complaint against Republican who removed painting showing police as pigs http://hill.cm/gJHDSsO
Posted by: lurkersusie | January 09, 2017 at 11:41 PM
Did the boos at the moment of silence for the Dallas slain cops not make the point.
Posted by: buccaneer morgan | January 09, 2017 at 11:44 PM
The 4th district court of appeals shows more sense re Jesse venture.
Posted by: buccaneer morgan | January 09, 2017 at 11:49 PM
Tonto - I hope your trip goes well and that you are able to let us follow you as you move westward.
Gute Reise!
Posted by: Frau Reisetante | January 09, 2017 at 11:56 PM
Thanks to Janet for the recs on balancing the news. I suggested Instapundit and RCP as well as subscribing to PragerU. Also gave the link to Diamond and Silk's YouTube channel to illustrate some fun stuff that the libs would never point out.
And to sbw, you really point out that there are no simple sources to point to. JOM has tons of info but the learning curve may be too much.
Jack, you gave rise to sbw's great comment.
Catch up is a bitch.
Posted by: caro | January 10, 2017 at 12:14 AM
Congrats to Dabo and the Tigers. Darn it...
Posted by: Beasts of England | January 10, 2017 at 12:29 AM
That was a helluva game.
Posted by: lyle | January 10, 2017 at 12:31 AM
Incredible game; Bama and Clemson put on another classic. Deshaun Watson was the best player on the field for the 2nd year in a row.
All hail Clemson, the national champions.
Good night!
Posted by: RattlerGator | January 10, 2017 at 12:50 AM
It'll be hard to beat that game for many years.
The 2 best teams and a fantastic finish.
Posted by: GUS | January 10, 2017 at 12:59 AM
You can't let an excellent team keep hanging around, that's for sure. Darn it...
Nytol :)
Posted by: Beasts of England | January 10, 2017 at 01:07 AM
Tonto, I wish you were coming on I-80. I am 10 minutes off the highway. I have driven Utah to Cape Cod and back the last two summers. Audio books are your friend. I use Overdrive which lends the books from your library. You can check out five at a time. (Sorry, James D : (( )
Be safe.
Posted by: caro | January 10, 2017 at 01:08 AM
Seems to be that the 'irreversible momentum' is climate changers, globalist warmings, and it is the engine to which others fascists agendas, like genderists and global taxists, can attach compliance. Obaminator's are apparent in the rigour twitches of his reign as he, through his wife, gives away hundreds of millions to genderists that focus on kids and seizes whole oceans as he denies Israel's right to exist. Real dripping vile nastiness your ancestors warned you about.
Posted by: 💃 | January 10, 2017 at 03:12 AM
Look out pervert trolls! 🏃
@MuckRock: Police using software which assigns people "threat scores" based on their social media posts: http://buff.ly/2iWOiqT What would you score? https://twitter.com/MuckRock/status/818684801398042633/photo/1
Posted by: 💪 | January 10, 2017 at 04:38 AM
https://www.washingtonpost.com/local/education/teachers-unions-mount-campaign-against-betsy-devos-trumps-education-pick/2017/01/08/1b60f2d2-d452-11e6-a783-cd3fa950f2fd_story.html
God forbid we let kids go to private schools.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 05:19 AM
http://dailycaller.com/2017/01/09/amnesty-loving-liberals-bear-a-30-year-grudge-against-jeff-sessions/?utm_campaign=atdailycaller&utm_source=Twitter&utm_medium=Social
Pretty scathing comment on the democrats' double standard.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 05:23 AM
http://www.politico.com/story/2017/01/hillary-clinton-new-york-mayor-233384
This has such delicious gossip and backbiting.
Sample: "This person also added that Clinton's top aides and advisers remain "incredibly depressed" about the election, and they are tired of people thinking Clinton’s just spending her days wandering through the woods in Chappaqua."
Posted by: Miss Marple the Deplorable | January 10, 2017 at 05:29 AM
Since someone brought up Cumberbatch yesterday, here's today's offering from Telegraph letters on Twitter:
Not a fan, I'd say.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 05:33 AM
http://nypost.com/2017/01/09/apple-will-release-new-ipad-models-but-will-anyone-care/
Posted by: Miss Marple the Deplorable | January 10, 2017 at 05:37 AM
http://www.politico.com/story/2017/01/senate-sessions-confirm-racism-233364
This has the supposed confirmation strategy for testimony. I am pleased to see that even Orrin Hatch is getting ticked off at the democrats' behavior.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 05:40 AM
http://thehill.com/homenews/administration/313410-ivanka-trump-will-not-take-job-in-fathers-white-house-report
Posted by: Miss Marple the Deplorable | January 10, 2017 at 05:42 AM
http://thehill.com/blogs/blog-briefing-room/news/313428-inaugural-parade-announcer-dumped-by-trump-i-thought-i-was
Oh, brother. "I thought I was going to commit suicide." The man is 89 years old. At some point, unlike Senators, you have to throw in the towel.
This is a ridiculous story, but nothing is too small for CNN to harp on.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 05:45 AM
Chad Pergram @ChadPergram 9h9 hours ago
NJ Sen Booker to testify against fellow Sen Sessions Wed at his confirmation hrng for AG. Such testimony is unprecedented
--------------------------------------
Guess who's running for president in 2020.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 05:47 AM
Thank you MM. On the topic of Mayor Hillary, there was a lib piece about the joy of sending out squads of city bureaucrats to hassle various Trump enterprises.
But you have to think a President could make some waves felt by the city of New York as well.
Trump himself doesn't need to be involved but there's ample evidence justifying a fair but firm investigation into Hillary. Fir the sake of justice, hope that happens.
Posted by: JimNorCal | January 10, 2017 at 05:49 AM
http://abcnews.go.com/Politics/wireStory/thousands-brave-cold-tickets-obama-farewell-speech-44618432
I assume this last infliction on the public will be televised. Unlike the last farewell addresses, he will have a crowd watching. (Others were given from the Oval Office. I don't think Obama has ever spoken from there, which is another weird thing about him. No one has ever explained that.) It's supposed to be at 9PM I think.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 05:56 AM
JimMprCal,
In normalville we would call that behavior harassment of a private business, and a legal action would be taken.
DeBlasio is as unpleasant as Clinton. I hope they continue to snipe at each otoher like the gingham dog and the calico cat.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 05:58 AM
Happy Rubicon Day!
And for you ladies always interested in the latest fashion worn by the Brit Royal family: Queen Elizabeth I’s long-lost skirt to go on display after being found on a church altar in Herefordshire

Posted by: daddy | January 10, 2017 at 06:02 AM
https://www.yahoo.com/news/m/1c5f2ad5-27e9-3804-8b5c-a6f6f4bf5a31/some-facebook-recruiters.html
Facebook software engineers aren't diverse because HR recommended candidates but the engineers wouldn't hire them.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 06:03 AM
From our host's stem post above "Obama also explains that public policy must continue to incentive businesses..."
For any rigorous English majors out there, I've seen the word "incentivize" used, also "incent". "Incentive" seems wrong to my ear. Guidance?
Posted by: JimNorCal | January 10, 2017 at 06:07 AM
daddy,
Thanks for the article on Queen Elizabeth's skirt. Fantastic embroidery!
There is a Georgian ball gown in the British museum which is heavily embroidered and embellished with beading (not sure if they were pearls). The thing must have weighed a ton. Beautiful handwork.
I also saw some embroidered chair cushions at a country house I visited when in England, but they were displayed in a room with no lighting, away from the windows, because the curators wanted to preserve the fabric from fading and deterioration. The colors were very rich.
The Elizabethan court, judging from samples and photographs, must have been very colorful and glittery.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 06:11 AM
JimNorCal (managed to spell your name right this time),
Speaking as the daughter of an English teacher, "incentive" would be a noun, not a verb. A similar example of error would be using "priority" instead of "prioritize."
My guess is that this is an auto-correct error.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 06:14 AM
http://www.dailymail.co.uk/news/article-4103474/Obama-s-farewell-salute-military-poll-shows-unhappy-years-commander-chief-voted-Hillary.html
Most interesting fact here is that exit polls were way off on the military vote.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 06:16 AM
Hmmm. Haven't watched the YouTube but you have to wonder how many laws were broken at the camp.
https://www.youtube.com/watch?v=R-QpGNTFlvo
The North Dakota Game and Fish Department recently obtained the accompanying video (CAUTION: This video contains some graphic images and language) and is releasing it to the public and media in an effort to get more information on this event, and to identify the individuals involved in an apparent illegal killing of a whitetail buck. Based on current information, the incident took place during the fall of 2016 on the north side of the Cannonball River west of the ND Highway 1806 bridge over the Cannonball, in the vicinity of the Dakota Access Pipeline protest camps.
This raw, unedited video is approximately 7 minutes long and shows several individuals pulling a whitetail buck that was struggling in the river, to the shore and apparently killing it by stabbing it, and then holding its nose in the mud to suffocate it.
Posted by: JimNorCal | January 10, 2017 at 06:22 AM
From Miss Marple's 05:45:
Brotman, 89...The man who has announced every inaugural parade for the past 60 years, who President-elect Donald Trump did not invite back this year, said he thought he “was going to commit suicide” after he heard he'd been replaced.
IIRC, President Obama (Old people don’t need life saving treatments they can take a pain pill) and ObamaCare Architect Zeke Emanuel (Why I Hope to Die at 75 - The Atlantic) thought it was a good idea for people older than 75 to take a little blue pill and off themselves for the benefit of the rest of us, so maybe this Brotman guy ought to count his blessings that Hillary didn't get the chance to make their policy mandatory.
BTW,
Here's a nice jazzy recording of Bill Evans playing Suicide is Painless.
Posted by: daddy | January 10, 2017 at 06:24 AM
Delay on the DeVos hearing that had been scheduled for tomorrow.
The hearing, which was slated for Wednesday morning, has been moved to Tuesday, Jan. 17, at 5 p.m., according to a statement sent late Monday.
Because of how the federal education law is written on when CMOs become eligible for federal funds for interstate or intrastate expansion, divestment is a must. My guess is that made her financial statements more pertinent than most cabinet picks. I also think she and her husband were early backers of K12. Other online provider investments would also be relevant and likely given previous patterns of investment in education entities.
Posted by: rse | January 10, 2017 at 06:30 AM
Tucker Carlson interviewed Glenn Back last night. Video of the interview is at the link.
https://theconservativetreehouse.com/2017/01/09/tucker-carlson-interviews-glenn-beck/#more-126853
Thoughtful interview, and one which reveals something about Tucker as well as Beck.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 06:39 AM
The Elizabethan court, judging from samples and photographs, must have been very colorful and glittery.
Glad you enjoyed the story on Queen Liz's skirt, Miss M!
I was never much of a fan of Royals in skirts until quite recently:)
Posted by: daddy | January 10, 2017 at 06:41 AM
http://townhall.com/columnists/kurtschlichter/2017/01/09/against-the-tyranny-of-the-socalled-experts-n2268349
Posted by: Miss Marple the Deplorable | January 10, 2017 at 06:58 AM
daddy,
You aren't fooling me. You posted that QE article HOPING one of us would comment so that you could post those pictures of Kate!
Posted by: Miss Marple the Deplorable | January 10, 2017 at 07:00 AM
Obama said "Solyndra, yes!!!"
"CO2 is a frightening mess."
For such coldhearted glibness
putting Coal out of business,
Said the voters, "Dem's Delenda est!"
Posted by: daddy | January 10, 2017 at 07:23 AM
Interesting story on a recent Delta forces raid on an ISIS camp and hostage rescue. I wonder if Zippy had to make another decision and how long did it take him?
http://www.thetimes.co.uk/edition/world/us-special-forces-swoop-on-isis-stronghold-and-free-prisoners-z92ftlmw7
Went to bed last night at half-time and I sure didn't see Clemson actually winning but they did and Dabo becomes only the second guy to play in a national championship game and coach in one. The other was Bud Wilkinson. Pretty exclusive club.
Posted by: Jim Eagle | January 10, 2017 at 07:25 AM
"I thought I was going to commit suicide."
Do it instead of making the MFM rounds telling everyone you are gonna do it. Do it.
What a loser. If I don't get my way I'm gonna kill myself.
Is he gonna hold his breath until he gets his way?
Posted by: Janet the expert | January 10, 2017 at 07:27 AM
Guilty as charged, Miss Marple,

Guilty as charged:)
Posted by: daddy | January 10, 2017 at 07:33 AM
Janet,
That infuriated me, too.
Did you even know there was an official announcer? I didn't. I usually use the time while the parade is going on to get stuff done before later coverage of balls and such, so I never paid much attention.
The PROPER way to handle this would have been to graciously acccept the emeritus title, offer tips tot he new guy, and maybe sit with him during his first effort.
To go around whining and being a drama queen about this when you are EIGHTY-NINE is just ridiculous.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 07:40 AM
The Hill – Verified account @thehill
Dem lawmaker to file criminal complaint against Republican who removed painting showing police as pigs
Hah! Hogwash! [Funny that that word came to mind ;-) ]
Alinsky: Make them live up to their own rules. The individual who removed the painting found it “Offensive”. Under leftist rules, finding offense allow you to break the law with impunity.
Evidence: Yale worker breaks priceless stained glass window depicting slaves and is rehired.
Posted by: sbw | January 10, 2017 at 07:52 AM
The old man announcer is proving, without a doubt, he should have been sat down *years* ago.
Posted by: RattlerGator | January 10, 2017 at 07:53 AM
Via a link at Insty, this is cool story that I think is probably somewhat true:
Troops sour on Mattis nomination after he releases 6,000-book reading list
WASHINGTON, D.C. — A large number of active-duty troops once enthusiastic about the choice of James Mattis for Defense Secretary have since soured on the pick after the retired general released a 6000-book reading list he plans to implement for the entire DoD after he is confirmed...
Here is a list from the story linked, but I think it only includes 70 or so books: LtGen James Mattis' Reading List (June 2007),
You better get cracking' Narciso!
And from Googling I see that there are some other booklists purported to be from General Mattis, such as this Listmania one: Lt. Gen. James Mattis Professional Reading
Cecil, Does this amount of homework fit with your knowledge of General Mattis? If so, he sure ain't mentally lazy.
Posted by: daddy | January 10, 2017 at 07:57 AM
daddy
I am going to make sure Mrs. Buckeye reads the story about the QE1 skirt. She is a serious collector of needle arts, so you finally posted something right up her alley.
Your Kate picture however are right up my alley:)
Posted by: Buckeye | January 10, 2017 at 08:00 AM
Ah, this is how you do it:
Pawn threatens King; Knight takes Pawn.Posted by: Cecil Turner | January 10, 2017 at 08:00 AM
Obama said "Solyndra, yes!!!"
OMG. A Romanized limerick? [/Shudder] Nobody knows for sure when he crossed it anyway. Modernizing . . . .
Ol' Meryl is all full of shizness,
'bout Trump and his 'sposed unfitness;
He riffs off a tweet
that comes out sweet
and Kellyannne takes care of bizness.
Posted by: Cecil Turner | January 10, 2017 at 08:16 AM
Fuck Dabo; that goof would've been in the carquest.com bowl if the iNCeST kicker could make a 20 yard field goal. Saban was fucked when Kiffen took another job and started mouthing off about things and Nick brings in somebody to run the offense with a drinking problem.
So are Schmucky the Clown and Meryl the monkey gonna run their stupid yaps about the Zippy and Putin show of providing Iran with uranium, some of which was surely provided by Curb Dive? Why do they want a mushroom cloud over Tel Aviv?
To hell with that inauguration codger. Penn State left that octogenarian goof Paterno in place well after his brain started deteriorating and that worked out well. Just STFU and go away. No fool like an old fool.
The weather guessers have already started dialing back how warm they expect it to be here so Tonto's original plan is probably most adviseable. Rt 80? Seriously?
Posted by: Captain Hate | January 10, 2017 at 08:18 AM
Nick Gillespie: If You're Freaking Out Over Donald Trump's Presidential Powers, Thank a Liberal! :
Posted by: Cecil Turner | January 10, 2017 at 08:23 AM
Which side of the bed did you get out on CH?
Posted by: Buckeye | January 10, 2017 at 08:26 AM
Now that's the CH we know and love. Tell ya the truth, the pledge was worrying me.
Posted by: Cecil Turner | January 10, 2017 at 08:32 AM
Buckeye,
It's windy as hell here on trash collection day so the entire neighborhood looks like a fucking slum and two tooth crowns (1 permanent (sic) and the other very temporary) came loose in the same meal.
Posted by: Captain Hate | January 10, 2017 at 08:33 AM
The Biden Lectures... from the list of things no one wants.
Posted by: henry | January 10, 2017 at 08:34 AM
Mudslide closed I-80 near Donner Pass Sunday night with more rain coming. http://www.routefifty.com/2017/01/santa-cruz-water-emergency-storm/134457/?oref=rf-today-nl
Tonto-when I drive alone I have researched likely places to stay depending on how far I think I will get. If I don't make a reservation in advance, I have the best options copied out so I can call by mid-afternoon at the latest and get reservation locked in somewhere that seems safe. I do not like rooms that still open out instead of to an interior hallway.
Marriott courtyard is my friend basically on the road. Do not forget to stop at La Posada in Winslow, Arizona.
Posted by: rse | January 10, 2017 at 08:37 AM
As a manager, I learned that when people complain at work, there often is a different, unsaid, underlying cause. You know, like loose crowns.
CH, I hope your dentist has an opening today.
Posted by: sbw | January 10, 2017 at 08:39 AM
whenever I need hard hitting commentary I turn to the Goth Fonzie.
Posted by: the generallyistic deplorable rich | January 10, 2017 at 08:39 AM
Heh, CT, a fundamental transformation in disappearing ink.
Posted by: Now you see it, now you won't. | January 10, 2017 at 08:39 AM
http://www.breitbart.com/big-journalism/2017/01/09/washington-post-cries-uncle-stop-using-tainted-term-fake-news/
Posted by: Miss Marple the Deplorable | January 10, 2017 at 08:45 AM
I'm there this afternoon, sbw; thanks for your concern.
Posted by: Captain Hate | January 10, 2017 at 08:45 AM
Biden is going to lose his 'state' special tax status' and will be term limited😁
Posted by: 😙 | January 10, 2017 at 08:45 AM
daddy @ 7:57
It's a joke, from duffleblog...
Posted by: James D | January 10, 2017 at 08:51 AM
This will make you feel better CH...Susan Collins will introduce and fully endorse Senator Sessions today. She has a personal friendship with Sessions and trusts his integrity. The Democrats are going to try to make his confirmation a sh*tstorm. The moonbats in Maine are *shocked* that she will confirm him. So (this time) we have to give her credit.
Posted by: Marlene | January 10, 2017 at 08:54 AM
I hope Cory beclowns himself sufficiently to end his presidential ambitions, if his history of fabrications hasn't done it already.
Posted by: jimmyk | January 10, 2017 at 09:00 AM
Whoa, thanks Marlene for that unexpected bit of good news. I'm feeling better already.
Posted by: Captain Hate | January 10, 2017 at 09:00 AM
You know, if you just say it, maybe somebody will believe it?
"House Minority Leader Nancy Pelosi (D-CA) now says the process of passing Obamacare in 2010 was “bipartisan,” and that only “tweaks” were made to the healthcare law using the reconciliation budgetary process."
Posted by: Old Lurker | January 10, 2017 at 09:01 AM
Best WaPo headline ever?
"Federal Workers are worried. And they should be."
Posted by: Old Lurker | January 10, 2017 at 09:02 AM
Its an eclectic list, esposito and Armstrong are mostly useless, kreveld has some use.
Posted by: buccaneer morgan | January 10, 2017 at 09:06 AM
Does the delusional dago think bipartisan means two people who are very partisan?
Posted by: Captain Hate | January 10, 2017 at 09:08 AM
Well CH, I bit hard on a popcorn kernel right before Christmas and probably cracked a tooth under a crown. Hurt like a SOB for 3 or 4 days before settling down.
Got a regular cleaning appointment in early February so going to see if I can make it until then.
Getting old sucks, parts wear out and the replacement market is junk.
Posted by: Buckeye | January 10, 2017 at 09:11 AM
Normal is extraordinary deluded, she's not ready for her closeup.
Posted by: buccaneer morgan | January 10, 2017 at 09:12 AM
Ouch, Buckeye, popcorn kernels are Satan's little greeting cards. I hope the "public servants" who picked up the recyclables on the other side of the street and then went who the hell knows where elsewhere, bite down on a few.
Posted by: Captain Hate | January 10, 2017 at 09:19 AM
This is an interesting analysis of the Sunday FBI document dump.
https://theconservativetreehouse.com/2017/01/10/the-mysterious-fbi-sunday-document-dump-5-and-the-missing-clinton-seagate-hard-drive/#more-126885
There is some analysis by the author (Sundance) and other people who know about operating systems down in the comments, so I have linked so that you have access to them, too. Refreshing should get you more comments as the day goes on.
I am pretty sure this is set up to ask Sessions about it today. Motive on that is unclear. Could be tryig to set her up for a pardon, or to make sure that the public knows that she did transmit classified material, or simply to cause a big stink at Sessions' hearing. It's impossible for me to guess.
By the way, the Napalitano interview with Dobbs is also pretty interesting.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 09:21 AM
Sharpton going for a more selective audience in his anti-Trump protest march.
Posted by: henry | January 10, 2017 at 09:24 AM
Cap'n...you asked about the impact of deleting the Mortgage Interest Deduction on homes sales/prices. Jimmy gave you a good answer.
The basic theory is that if mortgage interest is deductible from one's itemized income tax return then the cost of owning a house is lower compared to renting and therefore more people will buy v rent and they can afford to pay more for it. I know you know that.
But these are not normal times and so the usual calculus is not at all clear. Consider:
First of all ZIRP has produced crazy low rates in the first place and so the value of the deduction is much lower on a case by case basis. When the market FINALLY, as it must, adjusts to rates having to return to their global normals, then the impact of that alone will do all the damage to the markets that you worry about.
Second, tax rates and details are such that it is harder to figure out what the actual impact is on a lot of taxpayers these days.
Third with almost 100M workers not employed, the macro impact is harder to figure.
Fourth, actual income tax payments are now so skewed to the top 10% that the historical impact on the other 90% is harder to see.
Fifth, since the calculation has to be "compared to what", it is significant that as local communities are finding it harder to raise enough tax income to balance their budgets, they have found that it is easier to significantly increase taxes on a few thousand landlords than on hundreds of thousands of homeowners...so they do. Every landlord simply passes his real estate tax burden on to his tenants in higher rents. Add to that the remarkable increase in the cost of building anything because of government and you have a situation where the "rent curve" is not as attractive as it used to be.
Sixth, headlines just today advise Millenials that their former math on the savings needed to adequately fund their future retirements is probably off by a factor of two (i.e. they need to double their savings); the cost of educating their kids has become a hockey stick; the cost of medical care also is scary and unpredictable; job security ain't like it used to be. Etc etc etc.
All of that has so much impact on the decision of millions on whether to buy and how much to pay that the isolated impact of an increase on the buyer's income tax bill becomes just more noise in a very loud room.
I know. That was a whole lot of words just to say "who knows?"!
Posted by: Old Lurker | January 10, 2017 at 09:28 AM
Does one renegade Republican make a vote "bipartisan"? Freshman Rep lone vote for BOzocare ... Sounds like a tv movie where a desperate man is forced to do something unspeakable to save loved ones being held hostage by evildoers.
Posted by: DebinNC | January 10, 2017 at 09:28 AM
Getting old sucks, parts wear out and the replacement market is junk.
I think it was an aging Ben Franklin who said at some point it makes more sense to knock down the old house and rebuild than to keep trying to repair it. Sounds a bit Emanuelian, but I think BF was just being a bit self-effacing.
Posted by: jimmyk | January 10, 2017 at 09:29 AM
Oh great. Protesters in the room,wearing KKK costumes. Also some Code Pinkos.
Posted by: Marlene | January 10, 2017 at 09:29 AM
Germany is Turning Itself into What it Didn't Want to Be!
http://cdrsalamander.blogspot.com/2017/01/germany-is-turning-itself-in-to-what-it.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+blogspot%2FFBgLA+%28CDR+Salamander%29
Conclusion:
"Not content to enjoy the good harvest from the bloody sacrifice of the post-war migrations, the Europeans decided to import an even harder problem.
The solution is not going to be pleasant for anyone - and the bad stuff hasn't even happened yet. Anyone who thinks this has a happy ending is a fool.
You can have your liberal welfare state, or you can have mass 3rd World immigration. You can't have both."
Read the whole thing. Good analysis.
Posted by: Jim Eagle | January 10, 2017 at 09:30 AM
Thanks for the feedback, OL.
Those brainiac protesters realize the Klan was a donk entity, no? Just like Phelps of the Westboro nutjobs was a donk delegate to the national convention.
Posted by: Captain Hate | January 10, 2017 at 09:34 AM
It starts: Cspan3.
The first block is being laid for the foundation of the Trump presidency. Knowing Dems/Progs/Liberals: The will not go quietly.
Posted by: Jim Eagle | January 10, 2017 at 09:37 AM
Heh, and the lws brings m3Wi. There is some causality there which brings the destructiveness.
Posted by: Lilies of the Field. | January 10, 2017 at 09:38 AM
I love the picture of Al Gore together with that Phelps.
Posted by: Two old fools, much younger then. | January 10, 2017 at 09:40 AM
Captain Hate,
Didn't Jeff Sessions prosecute a klnasman when he was a US attorney? And didn't he get the death penalty?
I think I am correct. Off to search.
Yes. I am correct.
http://www.weeklystandard.com/in-alabama-jeff-sessions-desegregated-schools-and-got-the-death-penalty-for-kkk-murderer/article/2005461
" And he also prosecuted Klansman Henry Francis Hays, son of Alabama Klan leader Bennie Hays, for abducting and killing Michael Donald, a black teenager selected at random. Sessions insisted on the death penalty for Hays. When he was later elected the state Attorney General, Sessions followed through and made sure Hays was executed. The successful prosecution of Hays also led to a $7 million civil judgment against the Klan, effectively breaking the back of the KKK in Alabama."
Posted by: Miss Marple the Deplorable | January 10, 2017 at 09:40 AM
SAL never disappoints, JiB. Thanks for the link.
Nothing in there, though, particularly unknown to us here. But, a good overview.
MAGA.
Posted by: Sandy Daze | January 10, 2017 at 09:47 AM
JiB
Thanks for your posting at 4:25 yesterday and our earlier conversation about NG vs. coal.
NG is clearly not the panacea and yet there goes Indian River.
WSJ has front page article today on nukes being taken out of service.
Posted by: Buckeye | January 10, 2017 at 09:50 AM
DiFi begins by introducing Maxine Waters and Barbara Lee. Geez.
Posted by: Marlene | January 10, 2017 at 09:51 AM
AHA! Feinstein brings up the special prosecutor statement of Trump during the debates. That is where they are going with this.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 09:52 AM
Oh, now they tell us.
The AG must be independent of the POTUS and not be his mouthpiece.
So, Lynch and Stedman are the last of the breed of Democrat AG's, then.
Thanks for clarifying that Diane. And thanks for giving us the job description for the AG. Never knew that the Democrats had it.
Posted by: Jim Eagle | January 10, 2017 at 09:54 AM
DiFi is giving a lecture. There is so much fear in this country!
Posted by: Marlene | January 10, 2017 at 09:54 AM
marlene,
Note how DiFi is using other people's letters and discussions to diss Sessions. Not her words, but others. So clubby.
Posted by: Jim Eagle | January 10, 2017 at 09:55 AM
This is disgraceful behavior on her part. She is continuing to stir up the fear factor, which is just so destructive.
I hope this comes back to bite her.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 09:59 AM
This is ridiculous. They aren't going to play nice.
Posted by: Marlene | January 10, 2017 at 10:00 AM
Code Pinkos being thrown out during Susan's speech.
Posted by: Marlene | January 10, 2017 at 10:03 AM
Senator Collins is doing a great job, and I am grateful to her.
Posted by: Miss Marple the Deplorable | January 10, 2017 at 10:09 AM
Does DiFi have her chimney sweep outfit on or has that been retired by globull warming?
Posted by: Captain Hate | January 10, 2017 at 10:10 AM
Great speech by Collins.
Posted by: Marlene | January 10, 2017 at 10:11 AM
I know there must be something below surface, containing a version of logic which seems to indicate a coal fetish. What the eff is the obsessional driving force?
Posted by: Willy | January 10, 2017 at 10:15 AM
Protesters need to be thrown out.
Posted by: Marlene | January 10, 2017 at 10:15 AM