Wednesday, January 17, 2008:
- In a story of much more interest to the Canadian media than to the American media, China plots its capture of the North American automobile market (25% off everything). The Chinese are playing the issue down a bit, perhaps fearing protectionism. Automobile journalists are wondering if the ‘fit and finish’ will be up to North American standards. What a sense of humor!
- Caterpillar makes industrial equipment, and thus is relatively sheltered from boycotts. Volvo isn’t so lucky. Is it time to stop buying overpriced ugly Swedish cars?
- Peculiarly accurate assessment from the WSJ of the Washington power politics behind the Iran NIE:
"People in Vice President Cheney's office saw the Dec. 3 announcement as a death blow to their Iran policy. The report's authors ‘knew how to pull the rug out from under us,’ says a long-time aide to the vice president, referring to the way the key judgments were presented."
People are finally waking up to the immense dangers of biofuels, a solution much worse than the terrible problem it was supposed to solve. Unfortunately, crooked government subsidies have already created the culture of corporate welfare entitlements that make progressive change so difficult.