Detailed Abstractions

Obamacare - was the final push an act of noble means or just hubris? (via Reason.com here)

…At a time when America’s economy is still in bad shape and when we face numerous problems abroad, Obama has put the country through a shattering political battle—and, with legal challenges and promises of repeal, the fight may be just beginning.

This seems, at the moment, less a monument to idealism than to hubris.

Rep. Mike Honda, D-CA seems to think Fannie Mae knows their stuff (via Politico here).  In asking for more money to prevent legal foreclosures, he gives us this:

…In addition, Fannie Mae estimates that as many as 50 percent of the minority homeowners who received a subprime loan should have qualified for a prime loan. This clearly indicates the need for housing counseling services….

With all due respect to Mr. Honda, I think all this clearly indicates is poor critical thinking skills.  When a GSE which apparently knew nothing about the impending crisis and was proactively laying down on the job when it came to auditing loan standards gives you estimates on who might or might not have qualified for what kind of loan – laughter is the appropriate response.  Not regurgitation.

Cato on telephony deregulation, cell phone innovation, & ingratitude (here).  Discussing his memories as a child where phone line were costly and long distance was only slightly less expensive than actual driving as compared to today’s age:

Then came the breakup of the AT&T monopoly in 1984. Phone technology and competitive service provision exploded. In 1982, Motorola produced the first portable mobile phone. It weighed about 2 pounds and cost $3995.

Within a very few years they were much smaller, much cheaper, and selling like hotcakes.  Today there are some 4.6 billion mobile phones in the world, and counting, or about 67 per every 100 people in the world.

Then he moves forward to the ingratitude:

And to celebrate this incredible achievement, Slate and the New America Foundation are holding a forum titled “Can You Hear Me Now? Why Your Cell Phone is So Terrible.”

From the CEI (Competitive Enterprise Institute), we learn the EPA is about to expand its powers (here):

Washington, D.C., March 30, 2010 – The Environmental Protection Agency and the National Highway Traffic Safety Administration (NHTSA) are expected this week to finalize their joint greenhouse gas (GHG)/fuel economy standards rule. This will make carbon dioxide an “air pollutant subject to regulation” under the Clean Air Act for the first time. The rulemaking, and the endangerment finding that is its prerequisite, will allow EPA to immediately exercise and continue to amass powers never delegated to the agency by Congress….

I suppose those supporting the decision know nothing about the EPA’s massive failure in just the Energy Star program.

Lastly, as a reminder, most places and people in the US did NOT buy homes they couldn’t afford (via WSJ here):

The U.S. still is feeling the effects of widespread housing bust, but a new report serves as a reminder that large swaths of the nation didn’t experience a boom in home prices and hasn’t suffered from the bust….

In fact, most of the insane double digit growth in real estate prices were in 5 main areas – NY corridor, Florida, Arizona, California, Nevada.  Make of it what you will that almost all flyover states never experienced the irrational boom, to be inevitably followed by the burst.

If you read enough media reports about “science” and their predictions, you like I are probably struck by three things:  we seem to invest lots of money on things we already know, we also seem to invest lots of money in things which are stupid, and I still don’t have my flying car.

As with most things, there is real science in the world, just woefully lack of reporting.  Here’s two things that are sure to benefit society over the long run:

• via Marginal Revolution, insurance companies are beginning to use data analysis to pro-actively tell insurers medical tests they should contemplate (here):

In Hawaii, Kaiser Permanente has started a pilot project that churn through its database of patient data to predict which patients might need which tests – and then sends individuals email alerts suggesting they come in for a test or checkup….

Now this of course could be fraught with potential privacy concerns, but the technology is available, with independent audits, to allow this process without allowing the company access to specific individuals and their specific risks.  It’s a start though and oddly enough, it didn’t require the federal government.

• & via Popular Science, a true miracle, beer without hangovers (here):

…A new study suggests that we could quite easily engineer our tipple to help us break down alcohol faster, reducing that morning-after sensation of intense pain (or intense regret) by simply adding more oxygen to our booze….

Of course societies aversion to others using drugs isn’t a pragmatic one, but a belief in the morality of those who don’t partake versus the immorality of those who do.  So my guess is that if this turns out to be true, they will attempt to outlaw as reducing negative consequences can only lead to more immoral behavior.

For an example of this thinking:  via Reason.com FDA to Ban Electronic Cigarettes.  According to the FDA:

Our concern is that this might introduce nonusers to nicotine use.

Jacob Sullum’s (the author) obvious question:

And what if it did? Separated from the dangers of smoking, nicotine use is not a big health concern.

Let’s hope the government will not interfere with either of these innovations.

• Here come’s the CFPA…. known as the Consumer Fraud Protection Act, which is shaping up to confirm my theory on the titling of bills.  Meaning it will not protect anyone, including consumers, from anything, including fraud; which I thought was already against the law….  More @ Reason by Tim Cavanaugh here.

• More psychology study showing evidence that concealment or perceived anonymity can lead to more unethical behavior.  via Time here

• Via Calculated Risk, Home Builders $2.3 Billion “Gift” from Taxpayers, demonstrating our government’s utter indifference to the economic realities associated with propping up businesses which should naturally contract during a correction.

• Cato on the government’s continued refusal of basic facts showing government employees earning more on average than their civilian counterparts (here)

• Obama administration to reverse decision on trying terrorist mastermind in NY & instead opt for a military tribunal – via WSJ here

• For light reading, America’s Craziest Cities @ The Daily Beast where they rank cities based upon stress, drinking, eccentricity, and number of psychiatrists.

Sorry for the respite….

• Two great articles in Reason’s February issue:  One by staff science writer, Ron Bailey discussing health care (here), which starts with something everyone should know who’s interested in high price of medical care:

According to the conventional wisdom, the United States faces a massive medical bill thanks to our use of pricey new treatments and equipment. “About half of all growth in health care spending in the past several decades was associated with changes in medical care made possible by advances in technology,” a 2008 Congressional Budget Office report declared….

Don’t be fooled however, some of our more interesting intellectuals think this is reason enough to retard medical advance:

…This is familiar territory for [bio-ethicist Daniel] Callahan, who for decades has advocated reining in medical innovation to reduce health care costs. He also favors limiting the life-extending treatments that older people receive, on the grounds that most of them will “have lived a full and fruitful biographical life prior to age 70.”….

Who like most people that wish to control every thing in your life, including how you’ll die – refuses to take his own medicine:

…Interestingly, Callahan, age 79, underwent a life-saving seven-hour heart procedure in August that cost upward of $100,000….

So out “bio-ethicist” wants to tell your grandmother tough crap, while he does as he pleases.  I’m guessing his title was self-anointed as this is a one-way trip to genocide…. all genocidal societies started with this premise – the young, but very sick & the old, they are burdens on us… what a disgrace as a human being.

But going forward… the second article, written by staff writer Radley Balko… generally disliked because all his articles contain bad news about law enforcement abuses angering most readers and this case is no different.   Read about LE & justice system abuses when they are allowed to seize assets they believe were used in a crime or bought with criminal proceeds (here).  One more thing the state is actively doing to subvert true freedom.

• PysBlog has a good post on reasons we desire and try for conformity (here).

• The IRS, one of the most hated government agencies, is now allowed to bring armed guards into your home if they find you a possible threat (here).  The Christian Science Monitor seems to think this is warranted due to anti-government violence, but tries to prove it with numbers that are likely on par with the rest of society:

…The Treasury Inspector General for Tax Administration (TIGTA), which oversees the IRS, handles an average of 918 threats made against IRS employees every year, according to the agency. Between 2001 and 2008, court cases resulting from those threats have resulted in 195 convictions, according to TIGTA….

Even if out of all the hundreds of thousands of people who worked for the IRS between those 7 years, it seems like this is overkill.  Having said that, I also have no faith in their numbers at all.  Months ago we were told to stay away from 10% unemployment, we have to spend money.  We spent, we’re at 10% (here).

Additionally, organizations like MADD routinely exaggerate their findings.  For instance, in their version of “alcohol related accidents” – if you had too much to drink and just want to sleep it off and someone, completely sober, runs into your parked car – that’s an alcohol related accident.

I’m not saying he’s lying, I’m just saying that in my personal experience while studying, believing a government agency is telling the full and accurate truth, especially when that truth gets them extra funding, is highly unlikely.

• Lastly, an oldy but a goody.  My 13 year old daughter heard this on an economics talk I was watching, told one of her friends parents about it & they refused to believe.  You might refuse as well…. but remember, we are all entitled to our opinions, but not our facts (here).  Basic thesis:  Seat belt laws did not reduce driver fatalities significantly, because it increased the number of overall accidents and worse still, it has resulted in more deaths of pedestrians.  Proving once again, that almost all governments laws intending to prevent some result, do more harm than good.