Archive for December, 2007

The Subprime Business — Born in Orange County

Posted by PrestoPundit on 12/31/2007

“If they have a house, if the owner has a pulse, we’ll give them a loan.”  The OC Register tells the story of the birth of an industry. 

Posted in Economics | Leave a Comment »

OC Has Lost Jobs Over The Last 12 Months

Posted by PrestoPundit on 12/30/2007

A recession is a structural disequilibrium causing job loss, often with a geographic footprint. Well, formerly high flying Orange County, CA is ground zero of a recession.

Posted in Economics | Leave a Comment »

Tim Russert’s Wife Is A First Class Bitch

Posted by PrestoPundit on 12/30/2007

Read this article on White House parties and see if you don’t agree. The richest remark? Mrs. Tim Russert rips contemporary Washington for being overly partisan. As if Mrs. Russert wasn’t sleeping with the most partisan journalist to ever head a Washington news bureau.

Posted in Politics | Leave a Comment »

Little Fritz

Posted by PrestoPundit on 12/28/2007

Hayek as a boy

Yes, that’s Friedrich von Hayek on the left, with his younger brother Heinz, in a photo from 1903.

Via the Hayek in Vienna blog.

Posted in Economics, Hayek | Comments Off on Little Fritz

Spending Is Up 40% Under Schwarzenegger

Posted by PrestoPundit on 12/16/2007

And the state of California is facing a $14 billion shortfall which you can can bet Schwarzenegger and the Democrat legislature will “fix” with new taxes and borrowing against our children. Schwarzenegger has got to be the most disappointing political figure in my life time.

Posted in California | Leave a Comment »

Led Zeppelin at O2

Posted by PrestoPundit on 12/11/2007

YouTube has lots of video.  Look out for bald head glare.

Posted in I kid you not | Leave a Comment »

PrestoPundit Is Taking A Holiday Vacation

Posted by PrestoPundit on 12/03/2007

Everyone have a great December and I’ll see you in the new year.

If anything strikes my fancy between now and January I’ll post it in an update here.

NEW:  Peter Wehner on Mike Huckabee.

National Review — the case for Romney.
Six reasons to vote anybody but Huckabee.

Economist Peter Boettke asks, “Is George Bush The Worst President in My Lifetime?”

Keith at the HousingPanic blog asks:

Should the very person who enriched himself to the tune of hundreds of millions creating and selling the CDO/SIV Subprime Ponzi Scheme at Goldman Sachs be the one person plotting how to best spend taxpayer resources to bail out Goldman Sachs and their buddies after the CFO/SIV Subprime implosion?

Roger Kimball, “Hayek vs. Hillary“.

Six reasons to hate Bush’s subprime bailout.

Arnold Kling picks the best econ books of the year.

Here’s an advanced look at the leaked cover of Ted Kennedy’s forthcoming biography:

Ted Kennedy -- If I Did It

And you’ve got to take a look at these:

YouTube — Iraqi Jumping Jacks

YouTube — Afghan Jumping Jacks

ht Steve Sailer

The case against Mike Huckabee is very similar to the case against Michael Gerson and “Heroic Conservatism” — and it’s not an accident that Michael Gerson’s original political hero was … Jimmy Carter. Worth quoting:

Conservatives have been accused of cold-heartedness at least for several generations and maybe longer. But it is a little startling to see this old chestnut revived by a Bush administration insider.

It’s as if Gerson were asleep during the 1970s when a long series of liberal intellectuals departed the Democratic Party after witnessing the harm that can come of unrestrained good intentions and sloppy follow-through in government. (They were called neoconservatives — a word whose meaning has changed since then.) It’s as if he never grappled with the practical limitations of government, or the corrupting effects of too much paternalism. At one point he writes, “Anti-government Republicans saw Katrina as an opportunity to cut off medicine to old people.” Yes, and to grind the faces of the poor. Please ..

Toward the end of this book, Gerson eerily denies that he is falling into the trap of “blaming colleagues and enemies for blocking the arrival of [my] own private millennium.” But that is exactly what he seems to have done. And for all his eloquence and piety, he has been deeply ungracious in the process.

Ungracious, dishonest, and (one almost wants to say) rather un-Christian of Mr. Gerson.

Michael Gerson, liberation theologist, “Christianity is not just a statement about personal piety, it’s a statement about social justice.”

Posted in Personal | Leave a Comment »