Podcast 272

Christmas Insanity. Stories we are missing because of all the reporting on Congress, Oil, Australia and … Christmas. Suddenly we have to be told how to ‘deal’ with the Christmas Holiday, by practicing ‘abundance without attachment’. In english, that means we should not criticize commercialism, or judge materialism, but be unattached to money and just enjoy ‘the experience’. (Editor’s Note: I am well acquainted with the concept of practicing non attachment, but I don’t think it has anything to do with the rash of lazy journalism regarding spending money during the ‘holiday season’.) The biggest problem is expectations, being generating because of all the emotional stimuli in commercials and these incessantly cheerful all christmas all the time radio stations. Maybe the bad reporting comes from the fact that this is the worst time of the year to be doing issues or news based media, since people are checking out. Nothing is wrong with materialism, even the love of money. What’s wrong is the media’s obsession with predicting economic performance based on individual sales days like black Friday and Cyber Monday. The whole season becomes an economic bellwether? The truth is, its only since about the 1930’s in the US that Christmas per se, has become this macro holiday, with all its attendant markers for the wider economy. The best Christmas gift so far? The Sony Hackers. Revealing how Hollywood is actually the rapacious capitalist, rather than Wall Street. Anyone want to see if millionaire Senator Elizabeth Warren will take on greedy Hollywood execs? Why is it always Wall Street Banks, or dirty industrial companies. Eew. Do we still value people who actually make things? Or do we care more about the perfumed princes and princesses of Hollywood and the whales, global warming, public-private partnerships to preserve water and other nonsense. MSNBC’s days may be numbered. A new digital service called MSNBC Shift will be testing programming for the ailing progressive mouthpiece no one is listening to. Don’t rule out a completely new approach’ sports or entertainment. While Fox enjoys huge audience numbers, they sit astride a delivery channel (cable television) that may actually have an expiration date. Remember when Global Warming enthusiasts said warming causes tornadoes? The US had fewer tornadoes in the last three years, since they started measuring these things back in the 1950’s. And finally, the dumbest story of the week; “Scientists” say the warmer it is, the less you make. 54 degrees is the optimal temperature for productivity. Sigh. Sponsored by Baklund R & D. 

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Podcast 265

China Wins! Weekend updates start with the news that China has overtaken the US as the largest economy in the world. Except it’s not true. According to the IMF, using one measurement of economic magnitude, China has overtaken the US. Of course the US media jumps all over this story despite the fact that the measurement called PPP is controversial for many reasons. In fact China’s economy is considerably smaller and poorer than the US. However, it should be pointed out, when your neighbor is saying ‘things are better now’; if the US continues to have sub par growth (par in this case would be a normal dynamic growth of 4% or more for the same length of time as the recession), China will eventually overtake us. All the more reason to advocate growth policies focused on production, rather than trying to stimulate consumption. Protesters, variously reported as protesting the Ferguson Grand Jury decision and advocating for a higher minimum wage, blocked I35W just outside of the downtown Minneapolis. (Editor’s Note: The confusion in reporting got me talking about minimum wage, but the effect is the same. I don’t understand how making people angry because they sit in traffic for an hour makes them amenable to the cause, whatever that is.) The kinds of people who make more money are the people who develop time and productivity saving innovations, and figure out how to market them. Increasing wages by fiat won’t make anyone’s life better in the long run. Moreover, it’s possible in the short run, some fast food and service industries that employ human beings will automate most of these processes and actually improve service and the quality of their product. Low and middle skilled labor in the next twenty five years will face some grim employment challenges. Protesting this sea-change in the production and labor equation, is spitting into the wind. Black Friday sales are down, provoking all kinds of discussion about ‘what it means for the economy and retailers’. Probably nothing, either way. But, it does provoke a discussion about why some retailers are going out of business, and it isn’t because they’re not offering discounts. Its because they’re not retooling properly for the new consumers who don’t want to wait until the day after Thanksgiving for the best deals, and they want better service. Some stories from the consumer front prove this thesis. For example, a new study says people care more about the WIFI connection than they do the bed, when it comes to choosing a travel hotel. Did the North Koreans really hack Sony Pictures. Not so fast. Investigators now think it was a disgruntled employee. But the real story is how much these Hollywood types are making … but you won’t see any minimum wage protesters on the Sony studio complex. Meanwhile, more TV viewers are streaming their favorite shows, and its happening with radio too as people listen to podcasts and services like Pandora, over the internet. Finally, that all meat diet you’re on may actually be better for your heart than the gluten free bagel diet. New studies show its the carbs that kill your heart. Sponsored by Ryan Plumbing and Heating of Saint Paul, and by Depotstar. 

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