safariman

Economist Robert Frank discovers a Ph.D-powered economic perpetual motion machine. Mark Steyn explains: "The stimulus will work because enough economists are saying it will work that their prestigious postnominal credentials will impress enough of the masses into thinking it will work, which in turn will make it work." (via)

When you wish upon a star...

On Oil's Sesquicentennial, The Dream Becomes a Nightmare

Another excellent article. Thank you.

As a retired petroleum & synfuels guy, this article seems right on target. Love your lively comments, too.

Gildan: Until Honduras Situation Improves, Share Price Will Remain Volatile - Desjardins

Ecuador has been a good place. Maybe if Honduras succeeds in throwing off the yoke of Chavez, others will too. Chavez sees this as a threat, and a test. Obama isn't helping much.

Following is a more legal comment on what happened here in Honduras:

June 28, 2009- Honduras- The Result of a Legal Process in Defense of Constitution NOT a Military Coup

The international press and foreign governments based mostly on Manuel Zelaya’s dramatic comments are extending their support to him. We welcome the international community’s attention and coverage of such sensitive news, however we only ask that analysts and foreign dignitaries reserve their assertions and acts of either support or condemnation until they have been properly informed.

In today’s democratic societies, it is an understandable initial reaction to condemn any event that has been referred to as a Military Coup or event that infers the forced imposition of an unelected leader. We, Hondurans, more than anyone strongly condemn such events as we have lived through various military coups in the past. However, the events that have transpired today were neither.

On June 28, 2009 there was NO MILITARY COUP. On June 28, 2009 the military proceeded to arrest Manuel Zelaya following a court order released by our Judicial system. Upon capture, Manuel Zelaya was taken outside of the country and released in Costa Rica. I am first to recognize that we should have detained and judged him in our courts, as this would have lent additional confidence to the international community. However, taking him out of the country was done in order to minimize any potential violence. Unfortunately, it also means he now remains with impunity outside of Honduras and planting a seed of doubt in the international community, regardless of the clear proof of illegality committed by Manuel Zelaya.



On June 28, 2009 there was no forced Imposition of an unelected leader on Honduran people. What transpired today in Congress, resulting in the naming of Roberto Micheletti (him being the next elected official in the order of succession) as the new President of Honduras was a legal and Constitutional succession of powers and involved the unanimous vote of all congressmen, which included members of four of Honduras’ political parties, including Manuel Zelaya’s.

On Sunday June 28, 2009 our Constitution and our Democracy, were in DANGER due to Manuel Zelaya’s illegal actions, knowingly undermining our judicial system, in order to pursue his personal ambitions to remain in power (he only had 6 months left in government). I am attaching a document drafted yesterday (in spanish) by Union Civica Democratica that provides a fuller explanation of the context leading to today’s events.

Sunday June 28, 2009 is a painful yet historic day in which our young democracy, despite its faults, demonstrated it had established the necessary institutions that would defend the Constitution and provide the necessary checks and balances to assure none of the three branches of government (Executive, Legislative, and Judicial) would abuse its power.

The Supreme Court, Congress, Office of Human Rights in Honduras, State Attorney, Attorney General, Supreme Electoral Tribunal, all have recognized the illegality of Manuel Zelaya’s actions and recognized the legality of today’s events.

We hope that in the following days and upon proper review of the facts the international community recognize and lend support to our institutions, to the newly appointed president and to the Honduran’s painful but real victory establishing that Honduras is a state based on law and that no man is above it, regardless of wealth, power or status.

Gildan: Until Honduras Situation Improves, Share Price Will Remain Volatile - Desjardins

But the Honduran "Coup" was NOT a Coup. If the new government continues, Honduras will clearly be a BETTER place to invest!

I live in Honduras. My wife and I retired here, 14 years ago. We love living here. It is a beautiful Country populated by mostly hard working, honest people who wish to live with peace and opportunity.

Three and a half years ago, Mel Zelaya was elected President of Honduras. He ran in the Liberal Party, roughly the equivalent of the Democrat Party in the USA. He campaigned on a conservative note. Things changed pretty rapidly after he took office. He has been a disaster to private initiative of every kind; personal, entrepreneurial, and industrial. He ignored all but his own executive branch of Government. (Honduras, like the USA, has a "checks and balances" system comprised of a Congress and Supreme Court.) . Zelaya's support was very limited from rich and poor alike, the only exceptions being some indigenous (no doubt deserving) that he showered with benefits and promises of much more.

Zelaya's removal was a Democratic move (Impeachment Equivalent) to try to restore order in a country falling into the abyss because of a corrupt President that was becoming more dictatorial by the day, under the tutelege of Hugo Chavez. The Supreme Court and Congress worked together for several days to assure continuance of Democracy, in lieu of the Dictatorial Socialist path Zelaya was following. There has been NO rupture of Democracy here. Roberto Micheletti, President of the National Congress and a member of Zelaya's own Party was named interim President, to remain until elections scheduled in November (which Zelaya had wanted to abrogate to remain in power). Micheletti has already appointed a cabinet of good advisors, a couple of them I've met, and in whom I have confidence. I can pretty well assure you that if the new Government continues, it will be more democratic and transparent than the Zelaya Government.

It seems most inappropriate that world leaders roundly oppose the replacement of Former President Mel Zelaya, when they know little or nothing about the situation here.

I would appreciate it if world leaders would come to Honduras and review the situation on the ground before pontificating about Law and Constitution. It is Zelaya who did the first "golpe de estado" through a large number of actions. The National Congress simply did its part to preserve Democracy here.

Please pass this message to everyone who might be interested. We don't need brickbats, we need support. We do not need to be the next Socialist victim.

Latin Coup Datapoint of the Day

But the Honduran "Coup" was not a Coup.

I live in Honduras. My wife and I retired here, 14 years ago. We love living here. It is a beautiful Country populated by mostly hard working, honest people who wish to live with peace and opportunity.

Three and a half years ago, Mel Zelaya was elected President of Honduras. He ran in the Liberal Party, roughly the equivalent of the Democrat Party in the USA. He campaigned on a conservative note. Things changed pretty rapidly after he took office. He has been a disaster to private initiative of every kind; personal, entrepreneurial, and industrial. He ignored all but his own executive branch of Government. (Honduras, like the USA, has a "checks and balances" system comprised of a Congress and Supreme Court.) . Zelaya's support was very limited from rich and poor alike, the only exceptions being some indigenous (no doubt deserving) that he showered with benefits and promises of much more.

Zelaya's removal was a Democratic move (Impeachment Equivalent) to try to restore order in a country falling into the abyss because of a corrupt President that was becoming more dictatorial by the day, under the tutelege of Hugo Chavez. The Supreme Court and Congress worked together for several days to assure continuance of Democracy, in lieu of the Dictatorial Socialist path Zelaya was following. There has been NO rupture of Democracy here. Roberto Micheletti, President of the National Congress and a member of Zelaya's own Party was named interim President, to remain until elections scheduled in November (which Zelaya had wanted to abrogate to remain in power). Micheletti has already appointed a cabinet of good advisors, a couple of them I've met, and in whom I have confidence. I can pretty well assure you that if the new Government continues, it will be more democratic and transparent than the Zelaya Government.

It seems most inappropriate that world leaders roundly oppose the replacement of Former President Mel Zelaya, when they know little or nothing about the situation here.

I would appreciate it if world leaders would come to Honduras and review the situation on the ground before pontificating about Law and Constitution. It is Zelaya who did the first "golpe de estado" through a large number of actions. The National Congress simply did its part to preserve Democracy here.

Please pass this message to everyone who might be interested. We don't need brickbats, we need support. We do not need to be the next Socialist victim.

Li-ion Battery Technologies: Understanding Their Development Path

Very informative article, sure provoking a lot of interesting comment. Obviously, some good technology is coming down the pike.

I spent a large part of my engineering career working on synthetic fuels. If development had gone forward, we'd be a lot less dependant on imported energy. It's hard to know how and when things will settle out, but John's evaluation appears more probable to me. Meanwhile, I hope development efforts continue on all sides.

Maybe there's room for all...and thanks to all for your ongoing contributions.

China's Economic Ascendancy (Part 2)

Some excellent points. It just seems that election time, smooth talking politicians sell the benefits and security they'll provide if elected, and the voters always think some other guy will pay the bill. It's really a society being run on a begger thy neighbor attitude.

Deep down, I think maybe even the majority understand this. How can they be united?


On Jun 05 11:39 AM Dana H. wrote:

> Very nice to see a long-term historical perspective in an article
> for a change, and a debunking of the myth that economic growth requires
> money supply growth.
>
> Indeed, the choice is ours. Do we want to return to the founding
> principles of our country, in which government exists to protect
> individuals' life, liberty, and property, but otherwise gets out
> of the way? Or do we want to continue the trend toward the stagnation
> and decline resulting from an Atlas Shrugged-like assault on the
> country's producers and a nanny state that interferes in every aspect
> of our lives?

SOCIALIZED HEALTHCARE TO DIE FOR

Well, there are some much more affordable options for cash paying patients in other countries. I live in Honduras, and have opted out of Medicare. Private health care here is pretty good; generally decent equipment, even if something a bit dated. Many physicians have been educated in Chile, Europe, or the USA. They are world class. I've had a couple of pretty sophisticated orthopedic procedures done here. I think they're as good as I'd receive anywhere.

My cash cost...way lower than my Medicare deductible would cost in the USA.

Some US residents choose go to Costa Rica for plastic surgery, or China for transplants. It's big stuff, but I've heard it's pretty good, fast, and affordable.

Correct me if I'm wrong, but I understand that when the US Government nationalizes health care, you won't even be able to opt for private care with your own cash, as you are allowed to do in the UK to avoid the wait.

Confucius' Three Keys to Successful Leadership

Confucius...a great philosopher and a true Libertarian. We need leadership like that today.

General Electric's Impressive Entry into the Grid Based Energy Storage Business

Excellent article, John. One of many good ones. I find them helpful and informative.

But I have a question, that to me seems important, that I have not seen addressed. I may have overlooked it. What is the efficiency of the charge and discharge. If I put in 100 KWH, how many KWH will I get out after taking account of losses? How significant is the difference between technologies, and is this an important consideration? What improvements can we hope for in the next few years.

Suburban Housing Markets Are Unsustainable (Part 2)

Most enlightening article.

While I certainly don't believe any government or other organization should tell someone how to utilize their own family assets, it is very clear that housing space has increased a lot more than real income. And the point is clear that the debt loads are unsustainable. No money printing schemes or regulations will change the long term outcome. I'm afraid some down-sizing is bound to occur, one way or another. And based on my world travel experience, I don't think there is much correlation between living space per capita, and happiness.

We'll all see what plays out.

As always, Mr. Quinn, thanks for a well documented, well presented article.

Thursday Outlook: Commodities, Global Markets

We appreciate the tireless commitment you've been making to bring so many of us important data regularly.

My family, and I'm sure countless more are praying for a good outcome.

Family always comes first. Take care of them!

Our family went through one of these bouts. Pretty serious stuff. The outcome now, three years later, is excellent.

Warmest regards

Swine Flu: Current Status and Worst Case Scenario

Looking at recent epidemic modeling studies, I've learned that neither quarantine nor even significant world travel curtailment do much to affect the ultimate range or mortality of a disease. We don't have much of an idea yet whether the current swine flu will become a serious event or not. What does seem clear is that costly emergency preparedness procedures are ineffective, and significant travel restrictions will be counter-productive.

Disease spreads. More travel and commerce may makes it spread faster, but will not likely affect the range or mortality of the disease. No area of the world, no matter how remote, seemed to escape the Spanish Flu epidemic of 1918. Despite draconian public health regulations nearly everywhere.

Vaccines and antivirals seem the best, and less intrusive option.

The Swine Flu Effect

Looking at recent epidemic modeling studies, I've learned that neither quarantine nor even significant world travel curtailment do much to affect the ultimate range or mortality of a disease. We don't have much of an idea yet whether the current swine flu will become a serious event or not. What does seem clear is that costly emergency preparedness procedures are ineffective, and significant travel restrictions will be counter-productive.

Disease spreads. More travel and commerce may makes it spread faster, but will not likely affect the range or mortality of the disease. No area of the world, no matter how remote, seemed to escape the Spanish Flu epidemic of 1918. Despite draconian public health regulations nearly everywhere.

Vaccines and antivirals seem the best, and less intrusive option.

$200 Oil Is Coming While We Waste a Perfectly Good Crisis (Part 3)

I want to thank Mr. Quinn for contributing a well researched, well written article. My whole career was in the energy industry, and whether or not you find his comments comforting, I don't think they are far off the mark.

A lot of negative reader criticisms here...hardly seem warranted, whatever you think of them.

Is this a case of trying to kill the messenger who brings bad news?