Monthly Archives: December 2017

Merry Christmas

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First posted in 2011, I repeat it here.

Christmas renews our youth by stirring our wonder. The capacity for wonder has been called our most pregnant human faculty, for in it are born our art, our science, our religion.
-Ralph W. Sockman

A good conscience is a continual Christmas.
-Benjamin Franklin

Blessed is the season which engages the whole world in a conspiracy of love.
-Hamilton Wright Mabie

Christmas is not a time or a season but a state of mind. To cherish peace and good will, to be plenteous in mercy, is to have the real spirit of Christmas.  If we think on these things, there will be born in us a Savior and over us will shine a star sending its gleam of hope to the world.
-Calvin Coolidge

Some celebrate Christmas as the birthday of a great and good philosopher and teacher.  Others of us believe in the divinity of the child born in Bethlehem, that he was and is the promised Prince of Peace.
-Ronald Reagan

 

Why do bells ring at Christmas?
Because someone pulls the rope.

 

Spotify and Crony Capitalism

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Spotify AB wants to do an initial stock offering, an IPO, on the New York Stock Exchange, and the company wants to do it without benefit of bank underwriters.  Oddly, the NYSE has to ask the SEC for permission to amend its own rules to allow this.  Even more strange, the SEC is dithering over granting that permission—to allow the private enterprise, the NYSE, to conduct its own business as it sees fit, and more proximately, to allow the private enterprise, Spotify, to conduct its business as it sees fit.  The SEC is claiming, with a straight face, that it has until the middle of February to make up its mind.

That the Government agency even thinks it needs to think about this is shady.  Government mandating bank involvement in a private enterprise company’s public offering? That would be textbook crony capitalism.

The SEC had concerns that Spotify’s direct listing could open the door for other companies with potentially risky financial profiles to access the public markets without giving investors sufficient protection[.]

Caveat emptor.  Government-favored bankers Us investors don’t need the protection of Big Brother. I understand that personal responsibility is anathema to Government bureaucrats, but this is a shield too far.

The SEC needs to reject such…stuff…stop dithering, and grant the permissions out of hand.

Free Speech Turkey-Style

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Enes Kanter, a Center for the New York Knicks, has expressed his opinion of Turkish President Recep Tayyip Erdogan, and a Turkish prosecutor has indicted him in absentia for this heinous crime and wants Kantor jailed for four years.  Among other things, Kantor has said that Erdogan is the “Hitler of our century,” in the aftermath of the Turkish government’s revocation of his passport and its having forced his father, still in Turkey, to disown him—and then was thrown into jail, anyway.  All because Kanter supports the equally Erdogan-hated Islamic preacher Fethullah Gulen.

Here’s Kanter:

People don’t understand. They’re saying your family is still back in Turkey — why are you doing all of this? Why are you talking? I’m just trying to be the voice of all of these innocent people, man.  Because all of these innocent people are just going through really tough times. Journalists, innocent people in jail getting tortured and killed and kidnapped. And it’s pretty messed up. And (the government) hates it. They hate when I talk to you guys in front of all of these cameras, these microphones. They hate it. That’s why they’re saying, “Oh, we’re going to take his dad away, we’re going to put him in prison.”

In response to the indictment and jail threat, here’s Kanter again:

That’s it? Only four years?  All the trash I’ve been talking?

And

I have said less than that honorless (man) deserves. Add another 4 years for me, master.

Here’s to Enes Kanter.

Oh, and I say that Recep Tayyip Erdogan is an idiot and a tin despot.

Ex-Im Bank Nominee Confirmation

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The Senate Banking Committee rejected Scott Garrett, President Donald Trump’s nominee to head the Export-Import Bank.  The Wall Street Journal is casting that as “a win for crony capitalism” on the grounds that as a New Jersey Congressman, Garrett had twice voted against renewing the Ex-Im charter.

It’s not the end of the world, though; far from it. Confirming the nomination of a guy who doesn’t like the Ex-Im would have been better, but absent a quorum, which this refusal to confirm extends, the bank is unable to approve financing arrangements over $10 million.  This not a bad outcome; Ex-Im is well hamstrung, and that’s a good interim condition.

There’s More To It

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As part of the (actually quite minor) snafu wherein the House and Senate passed trivially different versions of the tax reform bill, the Senate’s Parliamentarian ruled that 529 Savings Plans—modified by the tax bill to be usable for K-12 as well as secondary education expenses—cannot be used, on a straight majority vote, for K-12 homeschooling, even though formally schooled K-12 children and their parents can use the Plans.  Two icons of Progressive Democracy, Senators Bernie Sanders (I, VT) and Ron Wyden (D, OR), had objected and raised the matter to the Parliamentarian.

The Senate passed its version of the tax reform bill minus the protection for homeschooled children, since there weren’t going to be eight (or even one) Progressive-Democratic Party Senators who would vote for tax reform or lower taxes in any form and sent it back to the House where the bill was passed again and then sent to the White House for the President’s signature.

Senator Ted Cruz (R, TX, and whose 529 amendment was cut back by this maneuver) expressed his dismay.

What the Democrats did is they carved out one group, they carved out just homeschoolers, and they cut homeschoolers out. It really was shameful.
…
The Democrats view is they want control. They want control over everything, whether it is control over regulating an industry, control over the internet or, in this instance, control in how you educate your students.  The reason the Democrats don’t like homeschoolers is if you’re spending the time, investing the time at home teaching your kids, they can’t mandate what you’re teaching them.

Cruz is right, but that’s not all of it.  The Progressive-Democratic Party also is in the tank for the teachers unions, and homeschoolers are beyond the reach of those unions.  The Sanders-Wyden move also was in service to their unions.

In either case, or both of them, the Progressive-Democrats used children as political weapons.  That’s despicable.