Wednesday, August 27, 2008

Quotes of the day

We should be led by Osama bin Laden. I mean Obama and Biden.--Charlie Wilson (yes, of recent movie biopic fame)

This election, in other words, is becoming a contest to decide which type of elite voters hate -- or fear, or mistrust -- more: A social elite or an economic elite?--Ezra Klein

The problem with direct flights is that the fuel for the last part of the journey has to get carried the entire distance. Carrying fuel uses fuel to push that fuel along. So airplanes if airplanes carry less fuel and stop more often they become more fuel efficient. The elimination of direct flights from New York is probably partly a reflection of this fact.--Randall Parker

The economic planners want to blame consumers for not saving, and they want to "nudge" consumers to save more. But the most prodigious dis-saving has been done by the economic planners. If Social Security consisted of personal accounts, then that $5 trillion would be sitting in what I once called the ultimate lockbox. Instead, it needs to be collected again in future taxes.--Arnold Kling

Recent research on President Bush's tax relief in 2001 and 2003 has found that the lower tax rates induced taxpayers to report more taxable income. In particular, the reduction in the top two tax rates induced taxpayers to report more taxable income—an increase in the size of the tax base—to such an extent that this positive behavioral response likely offset roughly 25 percent to 40 percent of the static revenue loss of lowering the top two tax rates.--Bob Carroll

Anybody else notice that all the "racism" stories seem to be about...Democrats?--Jon Henke

Feldstein is worried about house price declines "overshooting" their proper value. If he knows what the proper value of everyone's house is, he should set up a hedge fund to buy houses that fall below that value, while shorting the market-traded house price indexes in cities where house prices are still too high. In fact, Feldstein doesn't know the proper value of everyone's house. And I think it's time to stop looking for ways for government to make more bets and enact more subsidies in that market.--Arnold Kling

Oil profits bad… government “green” spending good. The last successful government energy project made a big splash in New Mexico in 1945. And yet they oppose nuclear power.--Stephen Green

It turns out that banking regulations and tax rules encouraged banks to buy Freddie and Fannie preferred stock. Regulators require to banks to maintain a capital cushion against losses on loans. This capital requirement can be met by holding cash or cash equivalents and certain investments that were considered relatively risk-free. The preferred stock of Fannie and Freddie was one of the highest yielding investments banks were allowed to hold to meet capital requirements ... --John Carney

Fox News is running a Hillary hagiography. All I can think is, “THIS is CNN.”--Stephen Green

What impressed me is that WALL-E is brutal in its portrayal of obesity, despite treating it with humor. It pulls no punches. I can only imagine how uncomfortable this might have been for some families to explain to their kids, and Pixar deserves real kudos for making folks think about it. WALL-E is a parable that at its core says that technology is anything but cold and lifeless. It reminds us that the challenge to humans in handling an explosion of technology is not to lose our humanity.--Tim Kane

Obama has such a small a resume that it is a wonder he still needs to run from it.--Tom Maguire

Frankly my life changed from the moment God entered my heart. I’m not interested in the darkness anymore. I’ve got four gorgeous boys, a wife I adore, I love being alive, and I love and enjoy every moment of my life. My view has brightened and I don’t want to go back into that dark place.--Joe Eszterhas

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