Dystopia And Its Discontents

by Joshua Sharf | 9:28 am, August 14, 2011

Walter Russell Mead posts this morning (“To Boldly Go Where Lots Have Gone Before”) about a new science fiction anthology of environmentalist cautionary tales: The weak link in McKibben’s strategy is that like many greens he still seems to be trying to scare the public so badly that it will overlook the many obvious and [...]

Milton Friedman, gridlock, term limits, federalism, & making politicians behave

by Brian T. Schwartz | 9:57 pm, August 13, 2011

Electing the “right” people, said Milton Friedman, “isn’t the way you solve things. The way you solve things is by making it politically profitable for the wrong people to do the right things.” Or at least make it unprofitable to do the wrong things. Continue reading →

Weekend Wrap-up: Colorado courts ruling o’er state schools

by CTBC Director | 1:11 pm, August 13, 2011

Citizens of Colorado hold elections every year to send representatives to different venues to consider and decide on policy (and allocate resources) for their children’s education: in odd-numbered years, for local school boards; in even-numbered years, for the state legislature, which has the constitutional authority to “provide for the establishment and maintenance of a thorough and [...]

Backbone Radio, August 14, 2011

by Rossputin | 5:35 am, August 13, 2011

Audio archives for this show:

Segment 1 – Intro; Tony Blankley
Segment 2 – More with Tony Blankley
Segment 3 – Ross and callers discuss Republican primary politics
Segment 4 – More discussion of Republican presidential hopefuls
Segment 5 – Politics; Ambassador James K Glassman of the George W Bush Institute
Segment 6 – More with Ambassador Glassman

After nearly four weeks away, most of which was spent with my family in South Africa, it’s great to get back behind the microphone at the Backbone Radio studios.

Of course, I’ll tell you a bit about what I saw and learned in South Africa, which remains one of my favorite countries – and I’ve been to nearly 60 countries.

But, wow, what a week here in America. The stock market had an incredible roller-coaster week, with stomach-churning moves to the upside and downside, ending down only slightly for the week but leaving investors and traders very nervous.

Democrats and Republicans named their members to the “Super Committee” which is supposed to reach some sort of compromise to deal with America’s crushing debt – color me skeptical, not least because of the Democrats’ appointees to the committee.

In addition to talking about the incredible week we’ve had, we’ll have two very special guests.

In our first hour, we’ll be joined by Tony Blankley, author, well-known political commentator, and former Press Secretary for Speaker of the House Newt Gingrich, and speech writer and policy analyst for President Reagan.  We’ll talk with Tony about the news of the week as well as his big-picture view of America’s future in an increasingly dangerous and competitive world.

In our third hour, we’ll speak with Ambassador James Glassman, current head of the George W. Bush Institute and former Undersecretary of State for Public Policy. Jim has had a remarkable career, including being the former president of The Atlantic Monthly Co., publisher of The New Republic, Executive Vice President of U.S. News & World Report, and editor-in-chief and co-owner of Roll Call, the congressional newspaper. Glassman co-authored a seminal article for Reason back in 1997 decrying the “national greatness” talking points of neoconservatives. It’s well worth a read.

Both Mr. Blankley and Mr. Glassman will be featured at this year’s Steamboat Institute Conference, which is coming up next weekend in Steamboat Springs. It’s a tremendous event which I will be very happy to attend for the third year in a row. I want to encourage everyone who can go to do so, not only to hear Blankley and Glassman, but to enjoy Steamboat Springs and the many lovers of liberty who will be there with you.  Other speakers will include Jonah Goldberg, Senator Marco Rubio (by recorded video presentation), Steve Moore, and two dozen other interesting people.

You can find more about the conference, which is August 19-20 at the Steamboat Grand (a fabulous hotel), here:

http://www.steamboatinstitute.org/freedom-conference-2011-2/

Please join me by listening to (and calling in to) this week’s Backbone Radio program from 5 PM to 8 PM on 710 AM KNUS in Denver and 1460 AM KZNT in Colorado Springs.

If you’re not in range of the radio waves, you should be able to listen to the show online by clicking HERE.

I hope you’ll actively participate in the conversation with me: Call the studio at 303 696 1971.

Independence Institute Constitutional Scholars In Colorado Springs

by Mike Krause | 5:30 pm, August 12, 2011

The Independence Institute is pleased to present the upcoming event in Colorado Springs: A Constitutional Guide to Fighting Federal Overreach.
Come join Independence Institute constitutional scholars David Kopel and Rob Natelson on Friday, September 30 from 2:00 to 6:00 PM at the downtown Antlers Hilton for this important program designed to arm citizens with [...]

Lynn Bartels, John Schroyer Join Me Tonight

by Jon Caldara | 10:27 am, August 12, 2011

Check out the Independence Institute’s public affairs TV show Devil’s Advocate tonight as I am joined by Denver Post reporter Lynn Bartels and Colorado Springs Gazette reporter John Schroyer for an update on political goings on around Colorado by the reporters who cover the politics beat. That’s 8:30PM on Colorado Public Television 12. Re-broadcast Monday [...]

U.S. Credit Rating: Don’t Shoot the Downgrade Messenger

by Brian T. Schwartz | 8:32 am, August 12, 2011

Attacking S&P for the U.S. credit downgrade is like criticizing your doctor for diagnosing your cancer.

Imagine my surprise

by Rossputin | 5:14 am, August 12, 2011

Imagine my surprise, after the first week in several years in which I had no access to newspapers, television, or the Internet, to be re-plugged into the web on Tuesday, digging back through the news of early August, and wondering if Harold Camping was just a couple of months early.

In terms of finance, the stock market had its worst day in years on Monday – its sixth worst percentage loss ever –on the heels of losing 7.2% in the prior week. And that week was before ratings agency Standard and Poors (“S&P”) downgraded U.S. debt, on which more in a moment.

During the past several days, the yield on a U.S. government 10-year note has plummeted to about 2.2%, roughly equaling its panic levels reached briefly during the heart of the financial crisis in 2008…

Please read the entirety of my article for the American Spectator here:
http://spectator.org/archives/2011/08/12/imagine-my-surprise

Post-Debate Thoughts

by Joshua Sharf | 9:38 pm, August 11, 2011

Romney won.  Mostly by not losing.  He bobbed, weaved, occasionally answered a question, and looked like an adult doing it.  But he didn’t do anything to put people at ease, and still hasn’t shown that he can either take a punch or deliver one. Everyone else looked, well, sort of 2nd tier.  Rick Santorum did [...]

Survivalists not happy at new FBI requests of Military Surplus stores – Colorado and National

by Mr. Bob | 3:23 pm, August 11, 2011

And I understand…to a point. This could be a slippery slope and anyone with a huge distrust of anything governmental is going to automatically think the worst. Sorry Preppers and Militia members, I don’t sound any alarms on this one. It does perk up …

Colorado and Indiana Families Both Waiting for Significant Choice Scholarship Rulings

by Eddie | 2:49 pm, August 11, 2011

You thought I was going crazy yesterday waiting for a ruling on the Douglas County Choice Scholarship injunction request? Another day, and it isn’t getting any better. We have been promised Judge Martinez will issue a ruling this week, so at the most I should only have another day or so to hold out.
But you [...]

Collect Unemployment and We’ll All Be Rich!

by Jon Caldara | 2:06 pm, August 11, 2011

White House press secretary Jay Carney took the American public on the economic fallacy superhighway yesterday. A Wall Street Journal reporter correctly asked Carney, “I understand why extending unemployment insurance provides relief to people who need it, but how does that create jobs?” Legitimate question. If Jay Carney or anyone else has the stones to [...]

Stop being a dickhead and balance the f-ing budget

by Rossputin | 10:23 am, August 11, 2011

I’ve gotten this e-mailed to me by a few different people in the last 48 hours. If you haven’t seen it already, it’s worth your three minutes:

Felonious Munk Presents: Stop It B! OBAMA PAY YOUR &*%$#% BILLS

http://www.youtube.com/watch?v=tRmZ9zH-mYM

This "Ethics Advocate" Calls AP’s Outrageous Bias

by Ari Armstrong | 10:18 am, August 11, 2011

Apparently the Denver post thinks it’s perfectly fine to publish ridiculous nonsense as long as it was written by the Associated Press.

A couple of days ago, the Post published the AP’s fact-devoid article about a new wind farm. Today the Post follows…

Rationalizing Forced Wealth Transfers

by Ari Armstrong | 10:08 am, August 11, 2011

Why do so many people who claim to advocate liberty also call for forced wealth transfers? The answer is complex, and at root it concerns the morality of rational self-interest versus self-sacrifice. But part of the answer, as I discussed August 3 at L…

Colorado Voters Duped- Ref C money was not used as promised

by Mr. Bob | 10:02 am, August 11, 2011

Just like conservative organizations warned, Referendum C money was used where it was not intended and now they can’t tell us where it all went. All around us we see the failed policies of liberals, the lies and the half-truths. Is America awake enoug…

Infiltration: Operation Flintlock Part II

by Mr. Bob | 9:51 am, August 11, 2011

Great Pics, Great Story, Great Tribute Michael YON
Infiltration: Operation Flintlock Part II

Clear The Bench Colorado Director Matt Arnold featured panelist at National Conference on Evaluating Appellate Judges today

by CTBC Director | 8:11 am, August 11, 2011

The Denver-based Institute for the Advancement of the American Legal System (IAALS) – “a national, non-partisan organization dedicated to improving the process and culture of the civil justice system” – is hosting a National Conference on Evaluating Appellate Judges on 11-12 August on the campus of the University of Denver (Sturm Hall, 2000 E. Asbury Avenue, Denver [...]

Ref C money: Who knows where it went

by Amy Oliver | 6:24 am, August 11, 2011

Legislative Council staff member Kate Watkins confirmed what the Independence Institute has said all along. Because money is fungible, no one really knows how the Referendum C money was spent. The Colorado News Agency reported that Watkins recently appeared before the Transportation Legislative Review Committee.  Committee member State Rep Randy Fischer (D-Fort Collins) asked Watkins what [...]

Market whiplash

by Rossputin | 5:23 am, August 11, 2011

If you think recent market plummets and bounces seem like an investor roller-coaster, just imagine how traders – like me – feel.

To be frank, I’ve been on vacation and not trading through this incredible turmoil, a lucky thing indeed because I probably would have had my head handed to me.

But what’s one supposed to think when the market regularly moves not just 3% in a day, but 3% in an hour, when a 1% move would often be considered substantial?

It’s a fool’s errand to give trading or investing advice at a time like this. The only thing I can think of is that anyone who can refinance a home (at least a home with positive equity) should be doing so right now.

Other than that, my personal play is looking to sell index calls on rallies, as I think we’re stuck in a trading range until it becomes clear that Barack Obama is a one-term president.

Europe is, financially speaking, in an extremely perilous position right now. They have debt and risks that probably make American banks’ 2008 troubles look relatively minor. And they have a European Central Bank which is pulled in multiple directions by the almost silly amalgamation of nations which comprise the Eurozone. Why Greece and Germany, Spain and Holland share a currency is more a matter of politics than economics, although there are clearly major savings in not having to pay banks every time one European has a transaction with a European from another nearby nation.  But I digress…

The statements we hear lately from figure in our government about limited US exposure to European banks are likely hot air at best. Exposure doesn’t have to be direct to be substantial in this interconnected financial world we inhabit.

And if a major bank fails in a major country (Italy, France, Spain) the ripples will certainly be felt all the way across the ocean.

Today’s rumor was French bank Societe Generale. SocGen, as it’s known, denied having any liquidity issues, denials which one commentator noted were similar to those made by Bear, Stearns right up to the day before it failed.

I’ve seen markets like this before, like during the Asian currency crisis and the failure of Long Term Capital Management. Turmoil can be intense for weeks, and you just have to prepare for market moves much larger than we usually see, and trade accordingly. It’s no time to be a hero, just time to survive and make a few bucks if you can.

As I said, I’m looking to sell calls on rallies, might sell a couple of puts on panic sell-offs, but that’s a very scary game to play and I certainly won’t do that in any size. These days one never knows what news might cause the market to open down huge, and “naked” put selling leaves one at serious risk. The problem is that hedging the puts can easily cost you more in losses on the hedge than you were looking to make on the puts, so my usual style is to sell ‘em and hold on for the ride. I usually don’t sell stuff with more than a week or 10 days until expiration, so I’m not wearing a short gamma or short volatility position for weeks or months, especially in markets as crazy as these.

Cisco Systems had decent earnings after the close on Wednesday and seemed to be helping stock index futures…until about 5 AM (Mountain Time) this morning, when S&P futures starting falling, losing almost 30 points, or more than 2.5%, in just over an hour without any major news, at least that I saw. Instead, the sell-off is being attributed to more fear about European debt. As I mentioned, it’s a very valid fear, and at some point it will be “priced in”, but I’m not going to try to catch the falling knife. UPDATE: In the next hour or so, leading up to the market open, stock index futures regained all of their losses and sport modest gains. Futures thus gained more than 20 points, or more than 2%, in under an hour, in part due to a decent report on first time jobless claims, which came in slightly below the psychologically important 400,000 level. Also, there was news that the French and German presidents are meeting which for some reason the market took as a positive.

Wednesday’s close was so panicky that it’s possible we’re near a bottom, but usually in this kind of market, a bottom is more likely to be found on a day with a substantial down open followed by a strong, positive close.  Opening higher is rarely the end of a bear phase, so for the time being I’m not convinced by rallies, and certainly not convinced by any day in which we open higher than the prior day’s close. As I said before, I don’t think the market has much chance for a sustainable move to new highs until Barack Obama seems certain to lose re-election.

Lessons from Liechtenstein

by PerlStalker | 11:11 pm, August 10, 2011

I like reading about random facts and strange bits of trivia and sites like mental_floss are great for that. List afternoon, mental_floss put up a post about Liechtenstein and it’s tremendous national debt of zero dollars. While describing Liechtenstei…

Campaign Laws Punish the Grassroots

by PerlStalker | 9:13 pm, August 10, 2011

This is no surprise to anyone paying attention. It’s the grassroots who get punished by election laws.

According to an analysis of the campaigns most frequently fined by the Colorado Secretary of State’s Office, well-oiled political machines pass …

For Obama’s Department of Education, Failure is an Option

by PerlStalker | 8:55 pm, August 10, 2011

It’s waiver mania at the Department of Education.

The goal of the No Child Left Behind law is to have every student proficient in math and reading by 2014. States have been required to bring more students up to the math and reading standards each ye…

On Wisconsin

by Joshua Sharf | 6:23 pm, August 10, 2011

On, Wisconsin! On, Wisconsin! Champion of the right “Forward”, our motto, God will give thee might! It’s hard to overstate the importance of yesterday’s wins in the Wisconsin recall elections. Needing to break even to retake control of the State Senate, the unions and their Democrat subsidiary fell short, winning only two six recalls. And [...]

Dem Poll: Obama Leads in Colorado, Poll Scrutinized

by elpresidente | 5:51 pm, August 10, 2011

According to Public Policy Polling in a robopoll of 510 voters from August 4-7th: President Obama’s approval rating in Colorado has plummeted since PPP last surveyed the state in February. 46% of Coloradans approve of the president’s job performance, and 50% disapprove, about where he stands nationally. But that is down from 51-45 in the [...]

Liberty In Harry Potter

by Ari Armstrong | 5:26 pm, August 10, 2011

I discuss the liberty themes of the Harry Potter novels in my book, Values of Harry Potter, and I summarize that material in a short talk delivered August 3 for Liberty On the Rocks.

I summarize five obviously pro-liberty themes in the novels: their…

What To Do When Congress Won’t Rein In Itself

by Jon Caldara | 3:49 pm, August 10, 2011

I’ve talked a number of times about how we can tackle our federal government’s spending problem. Each time the subject gets brought up, I must make mention of the Constitution’s solution to the problem. Our Constitutional scholar Rob Natelson puts it like this: the Founders envisioned a time when the problem would be Congress itself. [...]

Waiting for Dougco Ruling: Read Horn, Piper Articles, and Pace to Hornpipe…

by Eddie | 3:37 pm, August 10, 2011

Here it is Wednesday afternoon, and I can’t stop pacing the floor — well, in between playing with my Legos, that is. Pacing, playing Legos. Pacing. Playing Legos. — Pacing — Playing Legos — Blogging!!!….
Why? you may ask. Because I’m impatiently waiting for a decision from Judge Martinez about the lawsuit trying to shut [...]

Why Not Signed Editorials, Denver Post?

by Ari Armstrong | 12:49 pm, August 10, 2011

I sent the following letter to the Denver Post:

The Denver Post’s editorials fluctuate noticeably in style, tone, and ideological bent, because they’re written by different members of your editorial board.

I like the fact that the Daily Camera and th…

A sign of things to come?.Gosh I hope so.

by Mr. Bob | 8:29 am, August 10, 2011

Wisconsin is not known as a hotbed of Conservatism but…

After tens of millions of dollars spent by outside interest groups, dozens of attack ads and exhaustive get-out-the-vote efforts, Democrats on Tuesday fell short of their goal of taking contr…

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