Category Archives: Business

Durable goods orders jump in July

Those poor Democrats will by crying in their white wine if the economy improves significantly before the election. Here’s a bit of good news from the WSJ (read the rest at link)…

Demand for expensive goods unexpectedly rose in July, making a second consecutive surge, while an indicator of capital spending by businesses leaped higher.

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Vertical WindSpire Turbine (video embed)

This is an interesting idea…only time will tell if it is a good idea. The WindSpire is manufactured by Mariah Power.

Vodpod videos no longer available.

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California may investigate Schumer over IndyMac failure.

Excellent news!

California’s Attorney General is reviewing a request by former employees of IndyMac Bancorp Inc to investigate whether a New York senator triggered the bank’s collapse by releasing confidential information.

We ran a post on July 12th asking if “Chuck Schumer caused the collapse of the IndyMac Bank” with his typical grandstanding letter to regulators as was alleged by the director of the Office of Thrift Supervision, John Reich. See that post for the back story of this matter.

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Corsi’s “The Obama Nation” at No. 1 on NY Times Best Sellers List (for hardback nonfiction)

Per the NY Times

But books like “Unfit for Command,” which remained for some 12 weeks on the Times best-seller list, and, now, “The Obama Nation,” have become an effective and favored delivery system for political attacks. There have been anti-Clinton (both Bill and Hillary) and anti-Bush books too numerous to name. The sensational findings in these books, true or dubious, can quickly come to dominate the larger political discussion in the news media, especially on cable television and the less readily detectible confines of talk radio and partisan Web sites.

Here’s the link to the NY Times Best Seller List.

BTW, The Obama Nation is currently holding the #9 position at Amazon (update: #1 as of 8/15/2008). Click the pic to read reviews at Amazon …

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Scientists Say Invisibility Cloak Now Possible (Updated 8/13)

UPDATE 8/13/2008 at 7:58 AM: Here is a follow-up article at BBC that provides some additional information on this topic… Invisibility cloak ‘step closer’. And here is the original article by Xiang Zhang in NatureThree-dimensional optical metamaterial with a negative refractive index (there is a fee to access the entire article in Nature).

Original Posting on 8/11/2008

This is a huge step forward.

From FoxNews.com (excerpt and link)…

People can see objects because they scatter the light that strikes them, reflecting some of it back to the eye. Cloaking uses materials, known as metamaterials, to deflect radar, light or other waves around an object, like water flowing around a smooth rock in a stream.

Metamaterials are mixtures of metal and circuit board materials such as ceramic, Teflon or fiber composite. They are designed to bend visible light in a way that ordinary materials don’t. Scientists are trying to use them to bend light around objects so they don’t create reflections or shadows.

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Obama’s Energy Plan (the Obama Tire Pressure Gauge)

Obama may lack a sense of humor, but not McCain.

Click the pic to order your Obama Tire Pressure Gauge and contribute to John McCain…

Here’s a link to the video/embed in our post last week…
Video Embed–Obama: “inflating tires can save as much oil as we can produce by drilling!”

And here’s the Obama camp’s not so hilarious rejoinder. As you might expect, the prim schoolmaster has his knickers in a knot again…

“As Senator McCain knows, Barack Obama has a comprehensive plan to provide real relief to Americans struggling with soaring prices and make the long-term investments we need to break our addiction to oil,” the campaign writes in an email with the subject line “more from the low road.”


“And while the McCain team may is busy amusing themselves, the fact is that the idea they’re attacking is supported by, among others, top McCain surrogate Joe Lieberman, conference call host Mike Rogers, Governors Charlie Crist and Arnold Schwarzenegger, the Department of Energy, and NASCAR — all of whom have urged Americans to help save energy by minding tire pressure,” the Obama team continued in the email. “But hey, who ever let the facts — or supporters’ positions — get in the way of a political attack? Aboard the Low Road Express, that’s no problem at all.”

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Obama’s Economic Madness

To my knowledge, Obama has never held a job that would have given him any real business experience. His pronouncements on economic matters strongly indicate that, lacking any familiarity with the way in which business operates, he is himself operating in a vacuum when it comes to his grasp on subjects of both micro and macro economics.

He has never learned that businesses are like living organisms. When they thrive, they create wealth–and that leads to the creation of jobs. Likewise when they are inefficient or have outdated products or excessive labor or product costs OR TAXES, they lose wealth and shed jobs to businesses that are more competitive. And, sometimes, those more competitive businesses are located outside the country.

While Obama has made statements about helping businesses in the U.S. become more competitive, what he seems to misunderstand is that the only thing the government can really do to help is get out of the way. And the best way to “get out of the way” is to reduce tax rates and tax code complexity and regulation. Anything else to “help” business, no matter how good it sounds, is coddling (or even damaging) in nature and, in the end, reduces the competitive edge.

But Obama isn’t actually talking about helping business. In his mind, business, particularly big business, is somehow divorced from the economy. In Obama’s mind, it seems, the economy is the cash flow to individuals and families. He has confused the golden egg with the goose that lays it.

Hurt, starve, or otherwise constrain the goose…say goodbye to the eggs.

Simple, of course, unless you come from an environment that depends on taking wealth in a way that does not strengthen the economy. Such is the world of Chicago grievance politics. The rich and the corporations have it (the wealth)–Obama’s we, the poor and disenfranchised, want it.

What Obama fails to realize is that corporations run on capital just as cars run on gasoline. They get it from customers’ purchases, and lenders, and investors. Take capital (known by Obama as simply wealth) out of the system by whatever means and you begin to starve the “golden goose.”

For example, take what the Investor’s Business Daily has to say about Obama’s recent “Emergency Economic Plan”…

It’s shocking that a mainstream candidate, with so many supposedly well-regarded economists advising him, would produce such a shoddy, poorly thought-out plan.


Take his proposal to send every family a check for $1,000. Don’t worry, he assures us, we won’t have to pay for it. “Windfall profits from Big Oil” will pick up the tab — in this case.


Sen. Obama seems to be trying to take advantage of reports that Exxon Mobil reported record second-quarter income — indeed, the highest quarterly profit for any corporation ever.


But the reality is that as Obama and his equally unknowing friends push windfall taxes, Exxon Mobil has already given the U.S. a massive windfall. As economist Mark Perry has noted, Exxon Mobil will pay more taxes this year to the U.S. Treasury than the bottom 50% of all taxpayers — combined.


In the first half, Exxon Mobil’s after-tax income rose 15% to $22.6 billion. A lot of money, to be sure, until you consider that Exxon Mobil paid $61.7 billion in taxes — also a record.


People shouldn’t fall for such cheap, recycled class-warfare argument. Yet many will. Sadly, it will saddle big energy companies with higher taxes and crimp their exploration and drilling budgets. That means less oil on the market and higher prices.


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