Author Archives: Steven Hayward

Reviving the Misery Index

Featured image Graybeards will remember Jimmy Carter’s embrace of the “Misery Index”—the combination of the inflation rate and the unemployment rate—that Peanut Brain used against Gerald Ford in 1976, but which he then doubled during his forlorn presidency as Ronald Reagan skillfully reminded everyone in 1980.  Well, it’s baaaack. Only this time in a much more refined and useable way, as economist Steve Hanke of Johns Hopkins University explains in a terrific »

Don’t Look Now But . . .

Featured image I follow the stock market fairly closely, always have Barron’s on the top of my weekend reading pile, and, as a conservative, incline toward Benjamin Graham-style value investing.  But I never give stock market advice, even when friends ask.  That’s a good way to risk a friendship if they followed your advice and things went sideways.  If I wanted to “invest other people’s money until there’s nothing left” (as Woody »

The Genius of John Kerry

Featured image The short video below captures our alleged secretary of state John Kerry in full.  He speaks about the “bipolar” world of the Cold War, but it really isn’t a very good idea for a person of his limited mental capacities to use the word “bipolar.”  More to the point: it takes a lot of moxie to talk about how foreign relations during the Cold War were “easier” or “simpler” than »

Earth Day After Action Report

Featured image The indefatigable Roy Spencer offers a roundup of Earth Day cartoons yesterday on his site DrRoySpencer.com, reminding us along the way that folks who drove their cars to tree-planting ceremonies undoubtedly released more CO2 than the tree will ever absorb, before inevitably dying someday and releasing most of that CO2 into the atmosphere again anyway.  This one is especially good: But this is not satire: in the “Life-Imitates-Art” Department, behold »

The Cotton Bowl, or Pryor Analytics Epic Fail

Featured image You can tell Arkansas Senator Mark Pryor, who owes his office to the fact that his daddy was Senator, is desperate when he accuses Tom Cotton of a sense of “entitlement” to a Senate seat.  Who does Pryor think he is—Chelsea Clinton?  If you want to see why Tom Cotton is going to wipe the floor with Senator Posterior Pryor in November, check out this awesome rebuttal—but in order to »

Low-Information Environmentalists

Featured image I spent more time today going over some of the Gallup Poll findings on the environment, and was startled by the sharp break in opinion seen in this first chart.  Could this mean that people are starting to grasp the facts of environmental progress?  Maybe, but that sharp break makes me suspicious. It’s quite unusual to see a sharp shift like this in just a single year—about any issue.  But »

Happy Earth Day

Featured image It’s April 22, so happy Earth Day everybody.  Yes, it’s also Vladimir Lenin’s birthday, so for many on the left this actually presents little cause for confusion. The Gallup Poll reports today on the latest survey results on public attitudes about global warming climate change, which shows that while the number of true believers has barely changed since 2001, the number of people who are deeply skeptical has roughly doubled, »

Green Weenie of the Week: Back to Nature Indeed

Featured image Power Line’s Green Weenie Award Committee has been on sabbatical for much of this academic year, but emergency meetings can be convened for extraordinary circumstances.  And one of those circumstances arises today with the New York Times Magazine feature, “It’s the End of the World as We Know It . . . And He Feels Fine.” The feature explores the world and worldview of Paul Kingsnorth, a Brit who represents »

This Week’s Climate News

Featured image A month into Spring, and whaddyaknow: the Great Lakes are still 37 percent frozen over—the second highest level since precise satellite measurements began in 1973.  NOAA posted this satellite photo a couple days ago: And Environment Canada offers this bar chart of ice levels as of this date for every year back to 1980: But who knows: maybe this will front-fire for the Climatistas.  As Clive Crook argues cogently at »

The Week in Pictures: Royal Baby Edition

Featured image I assume you heard the news: a new royal baby is on the way, perfectly timed for the 2016 campaign. No—I’m not talking about Will and Kate: I’m talking about the announcement of the newest member of the House of Clinton, as revealed this week by Princess Chelsea. A perfect prop for the campaign trail.  The media will surely take up a collection to buy some celebratory baby shoes, but »

Keystone: The Fierce Urgency of Delay

Featured image It’s not just any old Friday afternoon, but Good Friday, and so why are we surprised that the Obama Administration chooses late in the day today to make this announcement: Administration Again Delays Keystone Pipeline Decision The Obama administration on Friday extended the review period on the Keystone XL pipeline, perhaps pushing back a final decision on the disputed project until after the Nov. 4 congressional elections. State Department spokeswoman »

Decrying “Extreme” Behavior at Dartmouth

Featured image The Washington Post reports today that the president of Dartmouth, Philip Hanlon, is decrying “extreme behavior” on the campus.  Is he taking proper note of the students who occupied his office with their extreme demands for preposterous things?  That would be a “No.”  Instead: Dartmouth College’s president lamented Wednesday that the Ivy League school’s promising future “is being hijacked by extreme behavior,” including sex assaults, parties with “racist and sexist »

The Fraud of Mary Landrieu

Featured image By now news has traveled far and wide that Louisiana Senator Mary Landrieu faked a Senate hearing in a TV ad in order to make herself look less bumbling.  Pretty cheesy, yes, but it ought to raise a larger point: What else is she faking? Well, everything really.  This is going to be one of those years where Democrats conveniently leave off their party affiliation in TV ads, and affect »

Krugman to the Rescue!

Featured image There’s hardly anyone who can top former Enron adviser (TM James Taranto) Paul Krugman in the sweepstakes for bemoaning income inequality, and so it makes perfect sense that City University of New York would hire Krugman for $25,000 per month to be a grandee at its new center to study the problem.  The Onion and The Daily Show may as well take the rest of the day off. The offer »

Nice Break If You Can Get It [With Dissent by John]

Featured image I know I wasn’t alone when I heard the news last year that Francis Bacon’s triptych “Three Studies of Lucian Freud” had sold for a staggering $142 million at an art auction.  Who could have been the buyer?  Surely a Russian oligarch, or a Silicon Valley techillionaire.  Turned out to be Elaine Wynn, the ex-wife of casino magnate Steve Wynn.  (That must have been some divorce settlement.) The next bit of »

Is Paul Appealing–Or Appalling?

Featured image We’ve got a link in our “Picks” section this morning to Bret Stephens’s Wall Street Journal column mockingly titled “Rand Paul for President,” whose subhed suggests that perhaps the GOP, like Democrats in the 1980s, needs to suffer a landslide defeat to get its head on straight.  Stephens thinks Rand Paul’s “bark-at-the-moon lunacy” would be just the ticket. Paul’s partisans will discount Stephens as part of the neocon conspiracy.  But »

Happy Birthday, Mustang

Featured image The Ford Mustang turns 50 years old this week.  Ford’s financial wizards projected that it would sell 100,000 to 125,000 units in the first year.  Even though the car got good advance reviews from the trade press, Ford’s bean counters were unenthusiastic about the Mustang because they feared the Mustang would cannibalize sales from other Ford models.  The Mustang sold 418,812 units in the first year, earning Ford over $1 »