Post-Dispatch Editorial Shows How Completely Ignorant They Are About Economics…Seriously

When it comes to basic economics, the editors of the St. Louis Post-Dispatch are weapons grade stupid.

Today they published an editorial that is one economic fallacy after another and typical leftist blather.

Starting off with this gem:

By almost any measure, one of the least-successful movements of the past decade has been the effort to rein in executive pay. “Say on pay” laws haven’t worked. Tax reforms haven’t worked. Shame hasn’t worked.

Shame?

What should these people be ashamed of? Being successful? Earning money?

These executives lead some of the largest corporations in the world. Can any of the editors of the Post-Dispatch do that? Hardly.

What the executives of these corporations have is a very elite skill set that now competes on the global scale. In other words, what they are selling, their abilities, is in short supply.

And for the editors of the Post-Dispatch, when something is in short supply, but the demand for it is high, what is the result?

It’s worth more. Hence, the salaries you statists want to restrain.

So, these people should be ashamed that they worked hard, studied, learned, applied what they learned and then entered into a voluntary agreement with an organization where they agreed to pay X amount of dollars for their work?

Why? Because a bunch of class-warfare mercenaries posing as newspapermen thinks it to be unfair?

Shame of the editors of the Post-Dispatch. They want people of skill and ability to feel guilty for using their skill and ability to make their own lives better.

(And that what just the first paragraph. It gets worse.)

If there’s any good news, it’s that the CEOs in the Equilar-AP study earned a mere 205 times the average worker’s wage. Average wages have risen slightly, so the number is down from 257 in 2013, the AP calculated. The AFL-CIO says the 2013 ratio was considerably higher, on the order of 331 times the average worker’s.

Whether it’s 205 times or 331, it’s markedly higher than the 30-to-1 ratio in effect in 1978. CEO pay rose 937 percent between 1978 and 2013, reports the Economic Policy Institute.

This nicely tracked the rise in income inequality. American workers have less because the bosses, and the shareholders they slavishly serve (the wealthiest 5 percent of Americans own 70 percent of stocks), have more.

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The finite pie myth. The fallacy that economics is a zero-sum game is one of the more persistent fallacies out there, and I believe deliberately so. It’s effective to the ignorant, which I would assume readers of the Post-Dispatch editorial page generally are.

This fallacy boils down to the belief that if one person has more, than another has less. Because the CEO pay is higher, it’s not possible for American workers to get more. Or worse, when one CEO gets more, workers get less.

The problem is, it’s not true:

So we have a choice: either the editors of the Post-Dispatch didn’t know this, throwing their credibility on economic matters into question, or the did and just want to print propaganda, throwing their integrity into question.

I honestly know know which it could be.

But I do know the ignorance didn’t stop with the above:

The Dodd-Frank Reform Act of 2010 contained provisions giving shareholders a “say on pay.” At least once every three years, shareholders get to vote on financial compensation packages for executives. For the most part shareholders have blithely endorsed the decisions of compensation committees and boards of directors.

And why not! What’s tens of millions of dollars in siphoned-off earnings among friends? If a top executive’s pay is tied to share price, then his interests are closely aligned with shareholders (most of whom are in and out of a stock in four months or less). Unless an executive drives the company into a ditch, they’re going to give him a raise.

Look at this. They got exactly what they wanted in Dodd-Frank, and now they are complaining because the investors in a company aren’t doing what they wanted. Instead, they are actually rewarding an employee with a raise when they do their job.

Horrors!

Consider that in 1955, Thomas J. Watson, who had had built IBM into a juggernaut that was only getting more powerful, was paid the equivalent of $3 million in today’s dollars.

That’s a healthy number that sounds about right for a top-tier executive. America needs an IBM rule: Anyone who gets more than $3 million ought to have to prove he’s better than Thomas Watson was.

Wrong.

This isn’t a dictatorship. This isn’t a country where a group of people can limit what a person earns because they think it’s unfair for him or her to earn more.

This entire editorial exposes a contempt for individual rights. The board genuinely believes that no one person should be allowed to earn whatever they can. They believe there should be limits. Something should be done to keep people from making as much money as these CEOs are today, because greed, or something. They base their entire opinion of fallacies and emotion.

America’s mixed economy has been sliding away from capitalism and more towards statism ever year, accelerating away from freedom in the last decade. More controls and more force isn’t going to do anything for the “American worker.”

The solution to creating jobs, raising wages and improving the lives of all Americans lies not in more government action. It certainly doesn’t lie in poorly thought out editorials written by puffed up pseudo-intellectuals.

It lies in a respect for individual rights. It lies in government removing itself from the market.

It lies in capitalism.

May 26th, 2015|Categories: The Blog|Tags: , , , , |0 Comments

Rep. Bill Otto Releases Congressional Campaign Ad – It Could Be The Most Painful 2:22 Of Your Day (Video)

I’m just going to put this here:

Wow. That’s bad.

First thing I noticed?

He’s not looking at the camera:

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As someone who makes the occasional video (perhaps you’ve seen my series “The Paradigm Shift“), this tells me that he’s reading his script not off a teleprompter, but off something else held below the camera. Now maybe this video was made in a union shop and the person who runs the teleprompter was on a mandated break…all day.

It’s more likely that whoever made this didn’t have a teleprompter. The whole video seems very low budget, so that seems to be the more logical conclusion.

It isn’t that hard to get a hold of a teleprompter. You can make one for about $40-50 bucks. Trust me on this.

The second thing I want to talk about is that background. If you’re going to go to the trouble of using a green screen, why would you use a plain white background? How boring.

Here’s a few backgrounds that I think would have been far better:

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betterbackground2

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betterbackground1

I could come up with more, but I just don’t want to.

I’ve put more effort into this video than it merits, to be honest.

It’s a poorly produced video filled with empty leftist rhetoric, exposing what we can expect to be a poorly executed campaign from a run of the mill lefty.

While Rep. Ann Wagner may have reason to worry about her re-election, it isn’t from the left, but from her right.

She could face a tough primary and that could be what sends her home.

May 26th, 2015|Categories: The Blog|Tags: |0 Comments

The Show-Me Report: May 26, 2015

KPLR: Attorney wants faster search of Homer G. Phillips Hospital records

VICE: 62 Murders and Counting: St. Louis Tallies Its Dead as Gun Violence Keeps Rising

Post-Dispatch: Missouri’s corrections system has a drug problem

Missourinet: Missouri Senator will try again to let human trafficking victims hide addresses

Missourinet: Voter photo ID initiative petition filed by Missouri Secretary of State candidate

Fox 2: Group seeks to recall Ferguson Mayor James Knowles

Blue Springs Examiner: Legislators: Money, ambition stalled progress

St. Louis Public Radio: MoDOT’s rough road to finding more funding continues

KMBC: KC observes Memorial Day at National WWI site

WNIJ: Power Plant Carbon Emissions Might Force Unnecessary Rate Increases

Missourinet: Bonding proposal for new Missouri veterans home to be back in ’16

May 26th, 2015|Categories: The Blog|Tags: |0 Comments

On Memorial Day…

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I have no idea how it happened, but when I was a broadcast journalist in the Navy, I was always assigned to be the one who went to record memorial services.

There were too many of them.

On July 20, 1993, the USS Abraham Lincoln was conducting flight ops at night. I was standing in television control watching this new device recently installed called “DirecTV.” Above us, the sounds of flight ops repeated.

When suddenly there was a change. A louder impact, followed by the sound of tons of metal scraping against metal.

We were a few decks below the flight deck, so it wasn’t immediately clear what happened. To be honest, I didn’t even notice the change. My friend in television control looked up and commented, “That didn’t sound good.”

The 1-MC came to life with a shout. “FIRE ON THE FLIGHT DECK! FIRE ON THE FLIGHT DECK!”

A F-14 Tomcat, piloted by Lt. Matthew T. Claar “Planet” had crashed into the back of the flight deck, splitting the aircraft in two. The rear of the plane landed on the fantail. The upper half skidded across the flight deck. The impact caused the front of the plane to shoot downward, what remained of the back raised skyward. At one point, it looked like the plane was on its nose.

This was when Lt. Claar ejected. He was killed when he impacted the flight deck.

A few days later, I remember setting up a camera on the focsle to remember Lt. Claar. I never met him, and honestly, I didn’t want to be there. I was irritated I had to do it.

I was a young kid who thought it was all about me. I was about to learn differently.

When the service started, the focsle was full. The weight of the moment began weighing on me.

My anger dissipated. In its place grew a sorrow. It welled up in me.

I looked away from the viewfinder and around at the grown men and women who face death every day. They were all crying.

Then I began crying.

Sadly, this wouldn’t be the last time I experienced this.

I was assigned to record the memorial for Lt. Kara Hultgren, who died during flight ops, again on the USS Abraham Lincoln.

And when we were in port, two pilots from Naval Air Station Alameda crashed into the San Francisco Bay, killing them both.

I remember standing in a parade ground on NAS Alameda, watching the Missing Man formation fly over. Just seeing it today still gets me.

It should get everyone.

Today we don’t honor those who served. We honor those who gave all for their service.

God bless them, and keep them.

May 25th, 2015|Categories: The Blog|Tags: |0 Comments

The Show-Me Report: May 25, 2015

KBIA: Missouri Lawmakers Fail to Pass Ethics Laws for State Officials

Huffington Post: Missouri Governor Commutes Life Sentence Of Man Serving Time For Marijuana

The Eagle: Mizanskey eligible for parole after move from Governor Nixon

The Rolla Daily News: Rep. Robert Cornejo enters race for Missouri House majority leader

Post-Dispatch: Gas-tax hike is dead. What’s next for MoDOT?

Ozark Area Network: Clock running out for Missouri transportation funding fix

St. Joseph Post: Missouri could face Canadian sanctions over labeling program

Ozark Area Network: Lawmakers fail to ramp up ethics laws for Missouri officials

St. Joseph Post: Missouri Senator: keep rebelling against BBQ study

The Turner Report: Billy Long: Government should not hold back medical research

Post-Dispatch: Is Missouri’s agricultural law being rewritten in Hong Kong?

Columbia Daily Tribune: Mamtek contractor struggling to get paid four years after collapse of factory project

Fox 2: Hancock & Kelley: Diehl Fallout, Voter ID in MO, Perks for St. Louis Recorder of Deeds

Post-Dispatch: Group says it has enough names on petition for Ferguson recall election

Post-Dispatch: St. Louis police: We track cell phones, but won’t tell you how

Post-Dispatch: What happens to the riverfront if the stadium proposal fails? ‘Plan B’

Missourinet: Bonding proposal for new Missouri veterans home to be back in ’16

Missourinet: Effort would expand Veterans Memorial at Missouri Capitol

May 25th, 2015|Categories: The Blog, The Show-Me Report|Tags: |0 Comments

The Show-Me Report: May 20, 2015

Frontpage Mag: Ferguson Rent-A-Mobs Exposed

Washington Times: Hired Black Lives Matter protesters start #CutTheCheck after being stiffed by ACORN successor group

Townhall: Huh: It Sure Looks Like Some Ferguson Protestors Were Paid To Do So By Liberal Organize Missouri

Fox 2: Protesters arrested outside of St. Louis circuit attorney Jennifer Joyce’s home

Post-Dispatch: St. Louis police release report detailing shooting of VonDerrit Myers Jr.

Show-Me Daily: Show-Me Testimony on Minimum Wage

ABC 17: State auditor, Jackson County court at odds over report

St. Joseph Post: Gas prices increase nationwide, but in Missouri are below national average

Post-Dispatch: Report: Hillary Clinton to campaign in Missouri in June

Show-Me Daily: CEO Says Lack of Ridesharing in Saint Louis Is Embarrassing

Post-Dispatch: Missouri officials: State shouldn’t owe feds for Medicaid rebates

Post-Dispatch: Wagner, Kirk sex trafficking legislation on way to Obama for signature

Post-Dispatch: Efforts to improve Normandy schools have fallen short, state board admits

Post-Dispatch: McClellan: Diehl may have been less a predator, more a buffoon

KSHB: Missouri GOP power shaken by scandal, tragedy

KBIA: Felony Charges Filed in Missouri Early Ballot Fraud Case

KBIA: Jackson County Court at Odds Over State Auditor’s Report

News-Tribune: Missouri fines Aetna for paying for uninsured abortions

St. Joseph Post: Shields elected to lead state school board

Missourinet: Missouri awaits US Supreme Court same-sex marriage decision

May 20th, 2015|Categories: The Blog, The Show-Me Report|Tags: |0 Comments

Not News: AP Headline Shows Incredible Leftist Bias

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Maybe it’s just me, but when I read this headline, I thought it was from Progress Missouri.

Nope. It was the Associated Press.

By the way, they didn’t cut it enough.

The safety net is a looter’s term for legalized plunder. The government’s job is secure rights, not redistribute wealth.

May 19th, 2015|Categories: The Blog|Tags: |0 Comments

Pitiful: Republican Sen. Bob Dixon Plotted with Democrats to Kill Right to Work This Year (Audio)

I don’t know how I missed this audio from the Missouri Alliance for Freedom, but the content of it was pointed out to me yesterday while I was in Jefferson City. In an interview a week ago, MAF President Ryan Johnson spoke with Nick Reed on KSGF regarding Sen. Bob Dixon. In the interview, he lays out that Sen. Dixon was actually working with Democrats to kill Right to Work.

Here’s what he said:

Ryan Johnson: You would think that Springfield’s own Senator Bob Dixon would be with us on [Right to Work.] For instance, in the poll that we recently took of Right to Work in MIssouri, we did a statewide poll, a super poll actually, over 10,000 voters voters, general election voters for 2016 were surveyed in this poll, and in the Springfield market alone, 69 percent, 69 percent of Springfield area voters said that they agreed that no American should be required to join any private organization like a labor union against their will. That’s significant. And if I were Sen. Dixon, I would listen to that. And I would not only make sure that voted for Right to Work, but I would make sure that I voted for the PQ, or moving the previous question, to break the likely Democratic filibuster against Right to Work.

Now unfortunately, I’ve heard it on good authority from a variety of sources within the Senate that Sen. Dixon may have been actually collaborating with Democrats working against Right to Work.

Nick Reed: That’s what they call ‘reaching across the aisle.’

RJ: Oh, I’m sorry. Yes. In the spirit of bi-partisanship, he was working against Right to Work. Potentially.

Johnson continued saying if he was wrong, he would be happy to come on the radio and “eat crow” and “apologize.”

He did apologize a week later. For hurting Dixon’s feelings.

Apparently, Dixon didn’t like being outed as a willing collaborator in the fight against Right to Work.

For the record, I have other sources that say Johnson’s claims are true, that Dixon was working with the left to stop Right to Work from passing out of the Senate.

This shows why we can’t have nice things in Missouri. Too many progressive Republicans.

This isn’t the first time I’ve said this about Bob Dixon either.

May 19th, 2015|Categories: The Blog|Tags: , , |1 Comment

The Show-Me Report: May 19, 2015

The Missouri Times: In Review: the biggest accomplishments of the legislative session

Show-Me Daily: Highway Funding Proposals Stall in Missouri Legislature

KBIA: Missouri Lawmakers Reauthorize Tax to Fund Medicaid

Heartland Connection: Marriage proposal on Missouri Legislature’s last day

Missourinet: Missouri House Speaker: too early to tell if legislature could overturn ‘right to work’ veto

Fox 2: Circuit Attorney: Officer won’t face charges in shooting death of VonDerrit Myers

Fox 2: Read the complete report of the police shooting of VonDerrit Myers

Post-Dispatch: Felony charges filed in fraud case involving Missouri early-voting initiative

Missourinet: Decision on release of Missouri man serving life for pot could come by ‘relatively’ early summer

Kansas City Star: Dave Helling: Not much thought goes into politics now

Connect Mid-Missouri: Governor Nixon releases funds for Trulaske College of Business

KSHB: Gov. Nixon tours Mosby to see flood damage

The Turner Report: Graves: A fence is a good start to solving immigration problem

Post-Dispatch: New public preschools threaten St. Louis private day cares

Fox 2: Jay Z, Beyoncé reportedly posted bail for Ferguson, Baltimore protesters

May 19th, 2015|Categories: The Blog, The Show-Me Report|Tags: |0 Comments

The Show-Me Report: May 18, 2015

Post-Dispatch: 5 major bills passed by the Missouri Legislature

News-Tribune: A look at key bills from Missouri’s 2015 legislative session

Missourinet: Republicans, Democrats assess 2015 Missouri session differently (VIDEOS)

Ozark Area Network: Missouri lawmakers quit early; deadly force bill fails

Post-Dispatch: Legislative session leaves many frustrated, but GOP got some priorities through

The Eagle: Recap of 2015 Mo legislative session

KSHB: Analysis: Mo. Legislative session ends in chaos

The Missourian: Analysis: Months of work by Missouri lawmakers end in chaos

Jefferson County Penknife: Right to Work and End of Session Report

Missourinet: Missouri lawmakers promise review of Capitol intern program

Kansas City Star: Another session, another disappointment when it comes to ethics reform in Jeff City

Connect Mid-Missouri: With session over, all eyes on Nixon

The Eagle: Nixon promises veto of right-to-work

Kansas City Star: Sign or veto? Groups on all sides lobby Missouri Gov. Jay Nixon on student transfer bill

Missourinet: Lawmakers assess what Missouri legislature did for Ferguson

Post-Dispatch: Missouri lawmakers pass on dozens of Ferguson-inspired bills

The Gateway Pundit: ‘We gonna just **** you up’- Black #Ferguson Activists Threaten White Liberals for Protest Pay

Post-Dispatch: Ferguson business districts slowly mend after riots

Post-Dispatch: Ferguson shooting leads cop and ex-con to find each other’s humanity

KPLR: Senator Rand Paul says he quietly visited Ferguson during unrest

Fox 2: Hancock & Kelley: John Diehl resigns, MO Legislative session ends, Deadly Amtrak derailment

News-Tribune: Galloway brings financial experience, young perspective to state auditor’s office

Missouri Education Watchdog: The Common Core Graduation Card: Analogy of Common Core PR Schtick?

May 18th, 2015|Categories: The Blog, The Show-Me Report|Tags: |0 Comments