Category Archives: Economy
I got to drive a Tesla once. It was cool. Like driving one of the HO slot cars I had as a kid.
Tesla Autopilot Crashes
The WSJ reports Tesla is being investigated by the SEC for not informing shareholders of a fatal crash involving its autopilot system.
Daily Beast says Tesla is misleading about autopilot safety. If you don’t brake it’s your fault because your weren’t paying attention. If you do brake it’s your fault because you were driving.
Holman Jenkins says the autopilot feature has been around since 1995. It’s basically cruise control and the driver still has to pay attention.
EU commissions regulate everything from the bend of bananas to the curvature of cucumbers.
British Independence Day
Gerard Baker discussed Brexit in a WSJ front page analysis, Britain Fires a Shot Heard Round the World. He compared it to the populist movement that gave the Republican Party The Donald as presumptive nominee for president of the United States.
Tea Party Nation, a leading umbrella group, congratulated the British on their “Independence Day” and said in a statement “the land that gave us Magna Carta decided they wanted freedom and not a socialist dictatorship.”
Megan McArdle in Bloomberg had this to say about global elites and populist movements:
In many ways, members of the global professional class have started to identify more with each other than they have with the fellow residents of their own countries. Witness the emotional meltdown many American journalists have been having over Brexit.
Journalists aren’t the only one’s melting down over Brexit. The Dow and the British Pound celebrated “the freedom from socialist dictatorship” by plunging 600 points and 11% respectively.
The Bern in Venezuela
“Sometimes American journalists talk about how bad a country is because people are lining up for food. That’s a good thing,” Sanders told interviewers in 1985. “In other countries people don’t line up for food; the rich get the food and the poor starve to death.”
The Venezuelan elite aren’t eating their pets. Chavez’s daughter is believed to have a net worth in the billions.
The Olympics are coming to Brazil. The country is in deep recession, the water is filthy, Zika virus is rampant and the president is being impeached. President Dilma Rousseff was suspended by the Senate on Thursday.
She calls it a coup.
Bernie Sanders beat Hillary Clinton in the West Virginia primary 51.4% to 35.8%.
Before the primary an unemployed coal miner confronted Hillary for acknowledging that her policies would put a lot of coal miners out of work. She claimed that her remarks were taken out of context. Here are her remarks in context from Politifact:
So for example, I’m the only candidate which has a policy about how to bring economic opportunity using clean renewable energy as the key into coal country. Because we’re going to put a lot of coal miners and coal companies out of business, right?
And we’re going to make it clear that we don’t want to forget those people. Those people labored in those mines for generations, losing their health, often losing their lives to turn on our lights and power our factories.
Now we’ve got to move away from coal and all the other fossil fuels, but I don’t want to move away from the people who did the best they could to produce the energy that we relied on.
Aside from EPA mandates, coal is being displaced by a cheaper and cleaner fuel – natural gas produced by fracking.