National Journal ran a piece yesterday (behind a paywall) by the German Marshall Fund’s Bruce Stokes, making the arguments that will be ratcheted up in the Senate beginning on Monday in favor of mandating windmills and solar panels: if we don’t mandate them, we not only won’t be using them but we won’t be making them either! This dire situation will leave the Chinese only themselves to sell the things to. Carry the one and you see how that harms our competitiveness.

Where to begin? At the root of this ritual case is a strange notion that being a leader in something – here, it’s windmills or solar panels – is intrinsically a desirable end. As I discuss in “Power Grab”: if we’re not the world’s windmill king…so what? It’s a windmill. It is not, as President Obama said, a new technology”, one of his rhetorical repetitions the curiosity of which should require no elaboration. Windmills are not a strategic industry. We have centuries of fossil fuels.

And after all this time windmills have come about as far as they can and will come with the possible exceptions of improvements in efficiency at the margins(solar is spectacularly worse). The laws of physics will not be repealed, the wind cannot be made to blow any more or regularly, and you will not decrease the host of very troubling NIMBY and other issues elaborated here by George Will.

Even rabid demander of such mandates, Obama’s Science Czar” (and population nut) John Holdren implicitly acknowledges the falsehood of the sales pitch that we can replace energy sources that work with windmills and solar panels. This leaves us with the principal argument in favor of these costly schemes, reported by E&E News last week as even acknowledged by Brookings Institute economist Adele Morris, as “the immediate need to reduce emissions”.

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They came to the Capitol in their thousands. They waved angry signs and shouted at the legislators inside the building. They even issued direct threats against politicians who refused to do their bidding–threats that could reasonably be interpreted as violent:

They can run, but they can’t hide. We’re gonna be over there this afternoon, and we’re gonna find you. And if you try to leave town without doing your job, we’re gonna chase you. And when you come back home, we’ll be there.

And now it’s all on video (skip to 3:37):

No, it wasn’t the Tea Party protest against the health care bill last month in Washington, D.C. It was the protest that union leaders staged in Springfield, Illinois this week, calling on state legislators to raise taxes–or else.

The threats were direct, they were physical, and they were made in broad daylight. Yet there was no outrage from a media that has, in general, been at great pains to cast the Tea Party movement as violent and extreme.

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David Weigel, at The Washington Post, asked me to comment on Michael Steele’s view of  the so-called Southern Strategy.

Speaking at DePaul University on April 20, RNC Chairman Michael Steele urged Republican leaders to work with the Tea Parties.  He has the right approach, to which I would add the fact, per my article on BigGovernment.com, that The Republican Party began as a Tea Party Movement.

Steele then went on to say:

“We have lost sight of the historic, integral link between the party and African-Americans.  This party was co-founded by blacks, among them Frederick Douglass.  The Republican Party had a hand in forming the NAACP, and yet we have mistreated that relationship.  People don’t walk away from parties.  Their parties walk away from them.  For the last 40-plus years we had a ‘Southern Strategy’ that alienated many minority voters by focusing on the white male vote in the South.  Well, guess what happened in 1992, folks, ‘Bubba’ went back home to the Democratic Party and voted for Bill Clinton.”

Chairman Steele makes an interesting point, but he is accepting as true the Democrat version of events.  The theme of Back to Basics for the Republican Party is that celebrating our party’s heritage is not just for minority outreach but for all Republicans to appreciate that the GOP has been a great force for good ever since being founded in 1854 to oppose the Democrats’ pro-slavery, anti-freedom agenda.  I drew on that record of achievement in writing the historical information on the RNC website, also posted as Heroes and Heroics.

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The Illinois Federation of Tax Eaters, also known as Organized Labor, rallied at the State Capitol in Springfield April 21^st, demanding a tax increase to pay for the government services they provide.

The crowd was not lacking in amusing examples of absurdity.  Take, for example, the Chicago teacher who hammed it up for the camera: “Where’s the money? Where is the money? Save our children! Give up the bucks! Where’s the cash? We need it fast!”

With that type of rhetoric, perhaps she would fit better in John Dillinger’s gang than teaching our future. And naturally, it’s all about the children.  What’s most offensive about teachers’ union tactics is the breadth with which they use children as human shields to strong-arm their agenda.

Or take the other tax eater who shouted into the microphone, “Raise my taxes! Raise my taxes!”

Or the SEIU official who led the “Yes We Can” chant just yards from the table selling Barack Obama t-shirts and posters.

Or the AFL-CIO guy who explained to the crowd, “People are hurting.  That’s why we need a tax increase.”

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Today, in 1564, under the traditional Julian Calendar, William Shakespeare was born. On the same day, in 1616, William Shakespeare died.

Today is Earth Day, so if you haven’t already, sprawl yourself on the ground 
and give Mother Earth a great big hug.  The president and vice president 
decided to mark Earth Day by hightailing it to New York City.  I know: New 
York City isn’t exactly the most logical place to spend Earth Day: acres of 
earth are paved over and under for high rises, streets, and subways.  But 
Earth Day wasn’t the reason they trekked to the Big Apple.  They had another 
reason.  Obama was in Manhattan to deliver a sanctimonious dressing-down of 
Wall Street.    (Biden just came to sit for a hard-hitting interview with 
the ladies of “The View.”)

At the same time Obama was blistering the big banks, we learn that the head 
of the Biggest, Meanest, Greediest Bank, Goldman Sachs, has been to the 
White House at least 4 times for meetings with Obama and his chief economic 
adviser, Larry Summers—WHILE Goldman’s lawyers were negotiating with the 
SEC over civil fraud charges against Goldman.

Now THAT’S weird!  The president who pledged to bring a new kind of politics 
to Washington, stripped of conflicts of interest and lobbying and big money 
and special favors seemingly engaged in all of those things?  At once?!

Say it ain’t so!  Of course, it’s so.  In the immortal words of Obama’s 
former pastor, Jeremiah Wright: “No messiah here, just another politician.”

Obama was on Wall Street today, acting the hypocrite. He went on about the 
damage done by the big banks while he and his White House are up to their 
eyeballs in the big banks.  They love them well enough to take—and 
keep—their money.  They love them well enough to schmooze with their 
Chairmen.  They love them well enough to court their votes.

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The Environmental Protection Agency (EPA) is facing renewed criticism this week with scientists charging that the government arm inaccurately labeled ethanol a “renewable fuel” last February.

According to reports, at the same time that it revised its renewable fuel standards, the EPA also re-ran numbers relating to corn-based ethanol’s lifecycle emissions, and determined that ethanol was responsible for substantially less greenhouse-gas emissions than gasoline, thus allowing it to be redesignated as “renewable.”  But, scientists argue, the underlying data remained the same, and demonstrated that ethanol was not a “green” energy source.  Nonetheless, they charge, the EPA presented the data in a way that allowed for ethanol to be categorized in a different manner.  That, critics say, raises questions about the agency’s independence and pursuit of its mission, as opposed to execution of a political agenda.

According to Jeremy Martin, a senior analyst with the Union of Concerned Scientists’ Clean Vehicles Program, EPA’s decision to focus on anticipated biofuel emissions as of 2022 “distorts the picture of today’s biofuels.”  By 2022, the theory goes, corn crop yields will have increased and biorefining technology will be more efficient and green than it is today.  But for now, according to Joe Fargione, a scientist with the Nature Conservancy, “in the near term, natural-gas-powered, dry-milled corn ethanol production results in an increase of greenhouse gas emissions of 12 to 33 percent compared to gasoline.”  Worse yet, EPA’s analysis recognizes this.  However, ethanol has been redesignated, despite such indicators that it does not meet the renewable fuels criteria.

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The New York Times reported today that long-suffering Brooklyn homeowner Daniel Goldstein has finally been forced out by the state’s eminent domain abuse in the Atlantic Yards case. And the paper turned to ACORN chief Bertha Lewis for some gloating commentary:

Bertha Lewis, a housing advocate who supported the project, bid Mr. Goldstein “good riddance.”

“Low- and moderate-income people had to wait years for housing while he obstructed the Atlantic Yards project,” she said.

Of course, Lewis is much more than just a “housing advocate who supported the project,” she was the CEO of ACORN, a group that signed a contract with Atlantic Yards developer Bruce Ratner “to publicly support the [Atlantic Yards] Project by, among other things, appearing with the Developer before the Public Parties, community organizations and the media as part of a coordinated effort to realize and advance the Project.” In return, Ratner pledged to include a certain amount of “affordable housing” in the project, units that ACORN stood to make a fortune from marketing and managing. As the New York Post reported, “Anita MonCrief, a former ACORN official-turned-whistleblower, estimates the anticipated deal could bring the group $5 million to $10 million annually over multiple years.”

And the money didn’t stop there.

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From the Associated Press:

Nearly 4 million Americans will have to pay a penalty if they fail to get health insurance when that element of President Barack Obama’s health care overhaul law kicks in, according to congressional projections released Thursday.

The penalties will average a little more than $1,000 apiece in 2016, the Congressional Budget Office said in a report.

The vast majority of people paying the fine will be middle class, which would violate Obama’s 2008 campaign pledge not to raise taxes on individuals making less than $200,000 a year and couples making less than $250,000.

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As you know, we’ve been writing for some time about The Center for Community Self-Help and its financing affiliates Self-Help Credit Union, Self-Help Federal Credit Union, and Self-Help Ventures Fund.  As of late, the organization has been under increased scrutiny for its questionable lobbying activities, its former leader and soon to be CFPA Czar Eric Stein, and  its $15 million donation from disgraced hedge fund billionaire John Paulson.

According to the Self Help website, the organizations “provide financing, technical support, consumer financial services, and advocacy for those left out of the economic mainstream.”  Within that complex web of entities under the Self-Help umbrella exists about forty or so real estate development projects.  I thought it might be a productive exercise to start looking into some of Self-Help’s individual properties.

So, I started with Barr Building, LLC, a Self-Help investment registered under its affiliate Self Help Ventures Fund.  The property is located at 910 17th Street NW, Washington, DC.

And wouldn’t you know, it happens to be home to one of our most frequent subjects:

The Service Employees International Union (SEIU).

This seemed especially curious, because it was only recently I’d discovered that SEIU, together with the AARP, is also the proud funder and agitator for one of the Center for Responsible Lending’s other advocacy projects – its state-specific lobbying websites targeted at regulating short-term loans in an effort to insulate its own predatory practices from any private industry competition.  For example, take a look at this site, from Arizonans for Responsible Lending.  It’s chock filled with all of the usual SEIU corporate campaign elements:  the menacing title and domain name, the array of photos depicting abused consumers who simply could not have known any better, the manufactured headlines, and of course – the staple of their strategy – the studies and the research (all funded and conducted by their own organization allies).

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If the video clip of Bertha Lewis I posted yesterday exposed her disturbing views on the tea party and conservatives in general, as well as her support for genuine socialism, the clip I am going to post here reveals the means by which she and others on the left plan on achieving their radical goals. For all the phony accusations against the Tea Party movement for racism and fomenting violence, if there is anything which will lead to racial violence and civic unrest in this country it’s the agenda on display here – watch:

Transcript:

First of all, let me just say that any group that says “I’m young, I’m democratic, and I’m a socialist” is alright with me. [applause]

The reason that you have to build your organization, and make it as big and as powerful as you can, is because you need to get into real battles. And here’s what I think you need to do. And you need make sure that you get into this battle. The next big battle that’s coming…whether healthcare lives or dies…[break]

Immigration is the next big battle. Immigration, immigration, immigration. And the reason this is so important is, you know, here’s the secret [whispers]:

We’re getting ready to me a majority, minority country. Shhhh. [applause] We’ll be like South Africa. More black people than white people. [laughter] Don’t tell anybody.

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Conservative talk radio in Memphis is calling for the firing of the staff member of Sen. Bob Corker who demeaned and belittled Tea Party activists in the Volunteer State calling them “sad” and “creepy” when they visited the office protesting Corker’s support for establishing a permanent bailout fund for companies “too big to fail.”

Corker is leading the charge for a “bipartisan” deal on so-called financial reform legislation that will create bailouts as far as the eyes can see, create a new regulators for small businesses (that had nothing to do with creating the crisis) and empowering big labor with shareholder proxy provisions aimed at undermining private company policy decisions. The House passed version of the bill authorizes the Federal Reserve to spend up to $4 trillion for bailouts. The Senate version is a blank check.

Attitudes are set at the top of the organization.

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From CBS 2 in Chicago:

obama

The defense team for deposed Gov. Rod Blagojevich has moved to subpoena President Barack Obama to testify at Blagojevich’s corruption trial.

The motion filed Thursday says Obama was interviewed for two hours by prosecutors and FBI agents regarding the Blagojevich case, and the defense filed a motion asking for all transcripts, notes and reports from that interview. But the defense never received the documents, the motion said.

The motion also claims that prosecutors say Blagojevich met a labor union official whom he believed to be in contact with President Obama, and told the official he would appoint a certain candidate to the vacant Senate seat. In exchange, Blagojevich expected to be named secretary of Health and Human Services, the motion says prosecutors claim.

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This is what the welfare state looks like. The formerly great state of Illinois, having thoroughly run its budget into the ground, is considering digging an even deeper hole by raising taxes. Exactly the shot in the arm the economy needs!

Of course, public sector unions are in full-throttle support of the tax grab. (No recession for those that live off taxpayers.) On Wednesday, a phalanx of public sector employees, including SEIU, Illinois Education Association, Illinois Federation of Teachers, AFSCME, and AFL-CIO, rallied in support of the tax hike in the capital, Springfield.

This public school teacher, who was likely given the day off to attend the rally, left no doubt about her reasons for supporting the tax hike.

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It’s time for your weekly dose of Coffee and Markets, featuring The New Ledger’s Francis Cianfrocca, a podcast brought to you by the fine folks at Andrew Breitbart’s BigGovernment.com and LibertyPundits.com, your home for conservative podcasts. In this week’s edition, we’re talking about the controversies over financial regulation reform and the SEC’s case against Goldman Sachs.

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Download Podcast | iTunes | Podcast Feed

You can subscribe to the podcast by following the links above, and if you’d like to email us, you can do so at coffee[at]newledger.com. We hope you enjoy the show.

Related Links:

TNL: Paul Krugman and Goldman Sachs
BigGovernment: Henry Waxman and the New American Way
CNBC: Testimony Could Undercut SEC Charges
Daily Caller: Senate Panel Approves Tougher Derivative Rules
TNL: The Limits of Hating Goldman Sachs

There is something very important to consider about the recent Bertha Lewis rant posted earlier on Big Government, in which she referred to the Tea Party movement as a “Bowel movement”. Something that has thus far been largely overlooked.

While it is important to consider the implications of Bertha using this kind of language to describe average Americans, the actual story is not just what she said, it’s who she said it to.

Bertha was addressing the Young Democratic Socialists. This is not just some fringe, esoteric, Socialist youth group.

The Young Democratic Socialists is the on-campus section of the Democratic Socialists of America.

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At the end of 2007, hedge fund billionaire John Paulson invested $15 million in the leftist non-profit, Center for Responsible Lending, their largest single donation ever. Around the same time, Paulson and his employees contributed over $100,000 to the Democratic Senatorial Campaign Committee, headed, at the time, by Sen. Chuck Schumer. Roughly six months later, CRL and Sen. Schumer both launched a highly public attack on the California-based mortgage lender, Indymac. The lender failed, wiping out the investment of thousands of people. Roughly six months after that, John Paulson, in partnership with George Soros, bought up the remnants of Indymac for pennies on the dollar.

It is a drama that no longer surprises us, unfortunately. Wealthy investors use their access to elected officials and their checkbook to advocacy groups for private profit. But this story has a twist; a top executive of CRL when this deal went down, Eric Stein, is now working at the Treasury Department,  heading up the proposed Consumer Financial Protection Agency. Mr. Stein will be the chief federal official designing regulations to protect consumers. Right.

This is that story.

Financial crises create opportunities. Prudent and discerning entrepreneurs who save their capital for a rainy day are able to acquire assets at firesale prices and put these assets to higher and better uses. Market forces cleanse wasteful malinvestments, innovative business models make existing ones obsolete and the economy roars forward all the stronger for it.

But while market entrepreneurs generally prosper during times of great dislocation, ultimately to the benefit of all participants in the economy, today political entrepreneurs have hijacked the economic system. The politically connected elites have used this downturn to carry out a massive wealth transfer from the people to the public and private sectors, fleecing the middle class for their own enrichment.  In their hypocrisy, the long ago small businesses that grew large because of free markets have helped chain these markets through lobbying for regulations and subsidies to shield themselves from competition and their own errors.

This has occurred most egregiously in the financial sector, where there has been a veritable free-for-all in legalized political plunder.  Those who understand the illusory nature of our monetary and symbiotically related political and financial systems have clamored to profit as much as possible before the house of cards falls, with the sanction of our supposed representatives.

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“As Speaker, I want every citizen of Illinois to know this is a people’s Legislature — we are here to serve the public, openly, honestly and with the highest standards. I am accountable only to you”, says Speaker Madigan’s own website.

Chicago Democrats have run Illinois into the ground. Since Rod Blagojevich became governor in 2003, Illinois state government has spent roughly $500 billion dollars (yes nearly half a trillion).  Yet, we are:

1. 48^th in job growth
2. 36^th in education
3. Leading the nation in youth violent crime
4. 3^rd in the nation in gambling revenue.

Last year, over 700 manufacturing companies left Illinois.  Over the last ten years, 750,000 people left the state, many of them high income earners.

Illinois does not quantify even basic financial information- such as the number of state programs.  In October, 2007, the Illinois Auditor General issued a report saying that, “Illinois does not have a comprehensive, consistent list of state programs”. Lacking basic data has led to a lack of legal spending control.  For example, the Illinois constitution requires a balanced budget, yet we face a $13 billion budget deficit.  For all we know, much of the money could have been stolen, as we are deficient in even fundamental fraud controls.  Last summer, the Auditor reported that “the state has a material deficiency” of fraud control on “all federal awards”.  The scope of this statement covered $17 billion in spending! Where did the money go?

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Today I am releasing the following web video highlighting President Obama’s financial bailout bill that will impose burdensome regulations and new fees on local banks in my district back in Ohio and other local communities around the country. In addition, Obama’s plan rewards top Democratic contributors and promises permanent bailouts to Wall Street companies deemed ‘too big to fail.’ The video and full remarks are outlined below:

The American people have made it clear that they’ve had enough of the bailouts and all the open-ended expansion of government in Washington.

But instead of listening, President Obama and the majority party in Congress continues to scheme up new costly policies that will make bailouts permanent, kill jobs and impose new burdens on taxpayers.

This week, they’ll continue with their push to pass a job-killing permanent bailout bill for Wall Street.

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