I have been rather remiss in not posting much during this campaign season. I have spent the past two months working in NYC but also have been sickened by the tenor of this campaign. Going into this campaign, I and many others would have predicted a much more civil and reasonable campaign because of both candidates. Sadly that has not been the case. I think much of this can be blamed upon the entire system of political consultants and the media. But at the end of the day the buck has to stop with the candidate.

It has been very difficult to cut through all of the hysterical campaigning on both sides to get at the reasons to vote for either candidate. I am neither convinced that McCain is Bush III/Four More Years nor am I convinced that Obama is a closet Muslim. But I would like to give my take on the pros and cons of each candidate.

Barack Obama
Pros read more »

When did we become a country that punishes the good and rewards the bad? I know this is hyperbole but sometimes I think this isn't far from the truth. I do not like to see people suffer and I do believe that we need some basic social safety net. I just not understand why those who have been responsible must bear the burden.

Today's New York Times:

As the Treasury Department prepares a $40 billion program to help delinquent homeowners avoid foreclosure, it confronts a difficult challenge: not making the plan too tempting to people like Todd Lawrence.

“Why am I being punished for having bought a house I could afford?” he asked. “I am beginning to think I would have rocks in my head if I keep paying my mortgage.”

But the benefits of a bailout for his neighbors seem ephemeral to the 45-year-old Mr. Lawrence, especially because he figures the cost of helping them will come, one way or another, out of his pocket as a taxpayer. “I’m basically financing my own financial destruction,” he said.

Listen in to my interview with Bill Strickland, CEO of the Manchester Bidwell Corporation in Pittsburgh, Pennsylvania. Manchester Bidwell is an arts and job training organization in inner city Pittsburgh that Bill started in 1968.

Bill has a new book out, Make The Impossible Possible that I highly recommend. In light of my conversation with Andy Crouch earlier this week, I would say that Bill is a leading expert on "culture making". Every city needs a "Bill Strickland" who eschews conventional wisdom and just goes about the business of helping people and treating those who are often ignored with tremendous respect. read more »

If you read nothing else this week, read David Brook's column today in the New York Times: The Great Seduction.

The loosening of financial inhibition has meant more options for the well-educated but more temptation and chaos for the most vulnerable. Social norms, the invisible threads that guide behavior, have deteriorated. Over the past years, Americans have been more socially conscious about protecting the environment and inhaling tobacco. They have become less socially conscious about money and debt. read more »

I just looked through Drudge Report to see if there was anything new this weekend and found this report about a new tax proposal in California:

California state lawmakers are considering an unusual idea to solve the state's huge budget shortfall: Tax pornography.

The idea was proposed by a state assemblyman, and would impose a 25 percent tax on the production and sales of pornographic videos -- the vast majority of which are made in southern California.

It is unknown, however, how seriously lawmakers will take the idea or how the porn business would deal with the new tax. It is likely, though, that porm-makers would simply pass the cost along to consumers by making pornographic materials more expensive. read more »

If you are like me, you are probably starting to feel some angst over the continuing rise is gas prices. My wife and I are discussing the idea of selling our cars to get more fuel efficient ones. I may even get a Vespa.

A large factor that is driving my concern is the growing realization that our government doesn't have a clue about what a real energy policy should look like. Unfortunately it appears that both parties simply want to demogogue and attempt to buy votes. read more »

I'm reading this article in the New York Times about various economic pressures such as the continued housing slump and concerns over inflation when I came to this paragraph:

The latest inflation report appears to corroborate a broader trend of higher prices across the economy. Last week, the Labor Department reported elevated readings for consumer prices. The consumer price index was up 4.3 percent last month from a year ago, up from a 4.1 percent increase in December.

I read an excellent piece at Rod Dreher's blog yesterday about the housing crash. The media is looking for easy targets to turn into villains as well as creating tragic heroes as part of this story. But the truth is much more complicated as evidenced by a friend of Dreher commenting on a recent ABC News piece: read more »

I was reading my local paper and came across this article about broadband access and cost in Japan versus the US.

Apparently, "Broadband service [in Japan] is eight to 30 times as fast as in the United States -- and considerably cheaper. Japan has the world's fastest Internet connections, delivering more data at a lower cost than anywhere else, recent studies show."

How did this happen? Well, two things contributed to this rapid improvement in internet infrastructure. read more »

Yesterday, the House passed a bill that would make gasoline price gouging a federal offense. How does the House of Representatives, in their infinite wisdom, define gouging?

(1) IN GENERAL- It shall be unlawful for any person to sell crude oil, gasoline, natural gas, or petroleum distillates at a price that--

(A) is unconscionably excessive; or

(B) indicates the seller is taking unfair advantage unusual market conditions (whether real or perceived) or the circumstances of an emergency to increase prices unreasonably.

So who defines "unconscionably excessive"? Since when was there anyone in Congress with a full understanding of the economics of gasoline and the entire supply chain to be able to definitively state what the price of gasoline should be?

This is exceeding foolish legislation that ignores the basics laws of economics. The law of supply and demand dictates that prices must rise when demand rises. This is a basic economic fact that isn't open to interpretation.

As a result there is a fairly obvious solution to rising gasoline prices - STOP DRIVING. The great irony here is that while there is much talk about decreasing our dependency upon oil, this bill ensures that we will continue our dependency upon oil. Those clamoring for more hybrid cars and a more "green" energy policy should be calling for higher gas prices if they were honest. A corrollary to the law of supply and demand is that increased prices will create a decrease in demand. Isn't that what we want???