Observations of the Day

First observation of the day, Kudlow discussed Janet Yellen global tax proposal, “Finally, there is what the Journal calls Janet Yellen’s “Global Tax Surrender.” This is not only about giving away our tax sovereignty. It’s also about jacking up our taxes on top of what Uncle Joe already wants to do, and it’s not only about a new global minimum tax…It may also be about a new windfall profits tax. That’s according to Dan Clifton of Strategas Research. As the G-7 finance ministers merrily build a new high-tax highway, rest assured that Communist China will not be part of the higher taxes. Why? One reason is they’re too smart…As for us, in some sense Ms. Yellen seems to be trying to make up for lost competitiveness that she will incur from raising the corporate tax to 28% and putting a 21% minimum tax on United States profits overseas. She’s succeeding in getting the other big countries to raise their taxes, too, though at the end, we may be taken to the cleaners because foreigners won’t do what we want them to do.” This is part of the big reset of “Capitalism.” It will prove to a failure as we exporting our bad economic policy worldwide.

Second observation of the day when John Phelan noted that one thing that could help minority businesses is to protect those businesses with good policing. He observed how many of those who rioted in Minneapolis and destroyed many black businesses were white and he mocked, “They did in the name of social justice and against racism” as they destroyed many black businesses.

Economics

Larry Kudlow makes a interesting point that the V shape recovery, uneven as it is, continues as unemployment dropped to 5.8. As I mention before, our employment should be lower, between 4 to 4.8 percent and this higher unemployment is due to many states slow in reducing or lifting their economic restrictions.

If Biden did nothing and no additional stimulus passed, we would be pushing even faster economic growth. Kudlow has made the point that this recession was the reaction to a natural disaster nationwide, the pandemic. The economy was in good shape in February 2020 and the economic restrictions enacted along with the lockdown stopped economic growth abruptly. Unemployment was 14.4 percent but many states opened up and the unemployment dropped to 6.7 by the end of year and the last six months saw the annualized rate of nearly 19%.

It could have been been even higher if other states followed through with opening their economy and if many states chose to open their economy. Blue states were out performed by states with Republican governors and their policies slowed the recovery.

Kudlow warns, “If Uncle Joe’s policies — I’m calling them his plan for a Green Workers’ Paradise — get through, then the outlook is going to turn poor: stagnation, growth recession with big inflation. If his pre-Soviet, Bulgarian approach is enacted into law, we will devalue the dollar and choke off the supply-side of the economy.”

On the Donelson Files, Center for American experiment economist John Phelan feared that Demand side of Biden policy could choke off the recovery and we can see 10 percent inflation by year end. Phelan joined follow researcher Martha Njolomole and Jim Echols discuss the economic development and how to move forward. Among the agreements was that we need less regulations in urban center and remove obstacles for lower income workers to make a living or start new businesses, reducing taxes and restraining spending. Echols noted that there are educational programs being developed in the Kansas City area to educate minorities about capitalism and all three noted how much of the media were not well informed on economy as recent new stories showed.

Kudlow is an optimist since he believes that much of Biden agenda moving forward will not be passed as he stated, “Wait a second, though — are those policies going to get through? That’s what Gerry Baker and Kim Strassel are asking, and a couple of weeks ago, when the Senate parliamentarian allowed only one 51-vote reconciliation package, I myself started getting interested in the possibility that these far-left policies just might not make it across the finish line and that the forces of growth and good and prosperity would eventually prevail.,,The congressional Republican Party is completely united against the high-tax Green Workers Paradise.”

China lab matters

The revelation that Dr. Fauci was warned about the possibility of a Chinese lab accident causing the release of the Wuhan Virus is bad enough but the efforts to undermine any serious investigation is even worse.

This reflects on something possibility deeper, the foreign policy, scientific class and political class refusal to confront China. Pointing out China responsibility was declared racist but now it is time to accept the reality, China is responsible. It is not racist to point out who started this pandemic, it is truth.

How you can tell a fraudulent Climate science argument.

First rule of telling a fraudulent climate science argument. They use the word denier. There are two things about this phrase. First, it is attempt to compare those who disagree with their view that the world is about to end due to global warming to Nazis. Second, it is scientifically inaccurate.

There are four schools dealing with climate science but there is one important idea, all of the schools of thoughts agree that climate is changing and mostly likely warming. No serious scientists disagree that climate is changing or vast majority view the long term trend is warming.

First school is the alarmist school that global warming is man-made and very bad. The end of the world is near, bla, bla, bla. This is the school the media pays the most attention but the science is totally wrong since much of their predictions have proven to be wrong. For the past three decades, the planet is getting greener, we are feeding more people healthier diets than ever before and every major economic and health metrics have improved. None of this was even predicated because of human ability to adopt and come up with solutions.

Second school believes humans are to blame for present warming but we have plenty of time to deal with the issues. They oppose the use of some fossil fuels but will work with natural gas and are big advocates of nuclear energy. Michael Shellenberger is a example of this school. They don’t buy into replacing our present energy choices with wind and solar since they correctly understand that wind and solar by themselves are incapable of keeping a modern day economy going.

Third school is that human are involved with changing climate but there are natural events that have to be considered. They rely on many solid science to back their concern including the history of this planet. They are not certain that human involvement is that bad. Some within this group view that CO2 levels maybe good for the planet (William Happier is an example of this.) They don’t oppose the use of different mix of energy and like group two, will support a move away from oil and coal toward nuclear energy and natural gas. Think Judith Curry as example of this group.

Fourth school view that much of the climate change is a natural event that has been part of this planet for millions of years and don’t view human contribution as significant. The late Fred Singer is example of this group.

I alternate between the third and fourth school. As I stated in a soon to be published book, that the only way we will get the economic depression, massive starvation and the negative impact of droughts if we actually restrict economic growth to “to save the planet.” Pass the Green New Deal, depend upon wind and solar as oppose to fossil fuels and Nuclear and you will see massive starvation as our economy will go back to a 19th century economy that barely fed one seventh of our present world population.

We have seen a scientific class that has allowed personal agendas and political views to impact the science. Political operatives and activist determine the science not the science helping to determine policies. We saw this in the recent Wuhan virus pandemics.

If a person uses the word denier, he or she is either ill informed or just plain demagogues. The consensus is that the planet climate is changing and we may be in a warmer trend. The real debate is why and what is proper mix of economic policies to ensure our continue economic growth and not set our present economy to a more primitive economy where billions will die.

Stevens White Privilege or more to the Story?


Stephen A Smith rant about Brad Stevens promotion being White privilege is completely wrong if he had taken the time to review Celtics hiring practices for the past 17 years. Yes Brad had a bad year since the Celtics team was better than their record but he has taken the Celtics to seven playoffs in a row including three Eastern Conferences. Since 2004, Celtics have had two head coaches, both of whom had “bad years” but overall had substantial winning records.

In 2004-5, Doc Rivers was hired as head coach after he was fired by the Magic. He won 45 games and took Celtics to first place in the division but a quick out in the playoffs. This was followed by 33 wins and 24 wins, numbers that get most coaches fired but Ainge stuck with Rivers. Rivers rewarded him with taking the big three of Allen, Pierce, and Garnett to a NBA title and six minutes away from a second title.

Celtics would have fired Stevens after this year since it wouldn’t have fit the character of this Celtic organization. And it appears that Ainge had been planning this move for awhile and Stevens may prove to be the right guy for the top job in the organization. He does have a great basketball mind which no one debates and if he was fired, another NBA team would have hired him quickly.

Celtics did not fire Doc Rivers after the 2007 season (and Rivers is black) but instead view 2007 as a rebuilding year and Celtics essentially tanked the year. They gave Rivers a chance to coach a championship caliber team. From 2008 season to the present, Rivers has been one of the best coaches with the Celtics, Clippers, and 76ers but it was not obvious that Rivers would have the record as a head coach that he presently have in 2007.

Smith is not just wrong in this case but Stevens showed himself to be a quality NBA coach with years that he took overachieving Celtics team to the playoffs and to say that if Stevens was black, he would have been fired. False and Doc Rivers proves that. ( I will wager that the next Boston head coach will be black. Personally I think it is time for Sam Cassell to get his chance to be a head coach.)

Donaire wins a title at 38

Nonito Donaire, Gary Antuanne Russell, Subriel Matias, Delvin Haney … All Big Winners (5-29-21)

Recent FightsTom Donelsonadmin

By Tom Donelson / Author, Member Boxing Writers Association of America (BWAA)

In 2007, Nonito Donaire defeated the fearsome Vic Darchinyan, who was at the time undefeated and a killing machine.  Donaire defeated him by TKO at the age of 24 years old.  Last Saturday night, the 38-year-old Donaire fought yet another undefeated fighter for the title and just as he did 14 years ago, he defeated Nordien Qubaali.  The previous fight he lost a tough decision to Naoya Inoue, the super bantamweight and for this fight, he moved downward in weight .

Donaire fought a smart fight as he proved patient in fighting the defending champion and used his skills as he set Qubaali up for his patent left hook.  The first two rounds, he boxed and landed solid shots but in the third round, he nailed Qubaali with a solid left hook that sent the champion down.  He continued to pressure the champ and at the end of the round, he landed another left hook that sent Qubaali down .   Quabaali barely got up from the knockdown and wasn’t quite sure where his corner was, but he was allowed to continue since he had a minute between round to collect his senses. 

In the fourth round, Donaire stopped Quabaali as he landed yet another left hook that stopped Quabaali and Donaire became the oldest fighter who captured the bantamweight division .

In the preliminaries, Gary Antuanne Russell fought Jovanie Santiago and won easily, Russell is the younger brother of Gary Russell Jr., the featherweight champion.  Santiago previous fight was a close loss to Adrian Broner so this would be Russell toughest test in a career that Russell had yet to see the fifth round.  Russell did see the sixth round, but he literally dominated from the start.  Santiago’s corner saw enough and decided to stop the fight after the sixth round . He has his brother defensive skills but more power as he stopped his 14 fighters in 14 fights.

Subriel Matias fought Batyrzhan Jukembayev in an intriguing match.  Both men had power and Jukembayev was making his United States debut.  Matias had won all his victories by knock out but had one loss by decision and Jukembayev had never been defeated. 

Jukembayev showed technical skills over the first two rounds as he used angles and landed solid shots against Matias.  Matias had the bigger reach and had a slender body versus the more muscular Jukembayev but by the third round, Matias started to let his hands go more as he put pressure on his undefeated opponent and in the fourth round, his power came through as he sent his opponent down. 

Jukembayev came out in the fifth with solid left against Matias and while Matias started to take control of the fight, his defense was often found wanting as Jukembayev connected on straight left out of his southpaw stance and right hooks . Going into the eighth round, I had the fight 67 to 65 but Matias let his hands go in the eighth round as he pummels his opponent.  In between rounds, Jukembayev’s corner saw enough and stopped the fight. 

In another fight, Delvin Haney won a decision over veteran Jorge Linares but had to survive a Linares surge as Linares nailed Haney with a solid shot that stunned Haney at the end of the tenth round.  While he won the decision, many fans remembered his survival at the end of the fight as opposed to his performance in the early part of the fight.

Haney connected on twice as many punches throughout the fight and showed his technical prowess.  He may be the best boxer in the lightweight division but not the most powerful puncher. 

This past weekend, a future hall of fame fighter reclaims his place in the present boxing as he turned back father time and won a title and young fighters like Russell, Matias and Haney showed that they have the talent to challenge for at title or in the case. 

Lessons From the pandemic

2017 Covers.pdf (amermaj.org)

Data-Efficacy.pdf (amermaj.org)

An-Ignored-Cost.pdf (amermaj.org)

We reviewed from different angles the failure of the lockdown. As the data shows that non-lockdown states and red states outperformed lockdown states and blues states.

  1. We found that there were no significant differences in death between non-lockdown and red states versus lockdown and blue states.
  2. That minorities were more likely to die from Corona virus in lockdown and blue states.
  3. As mention, economic growth and job growth were superior in Red and non-lockdown states.
  4. That other data referenced in our study, that more people have or will die from the lockdown than saved from the virus.
  5. We saw these trends from our data and others from the past year.
  6. Lockdowns were a failure.