By now most have read the alleged story of a Texas Tech economics professor who did an experiment with his class and ended up failing them all because no one wanted to work for a high grade and thus proving Socialism doesn't work.  Leaving aside the criticisms of that (urban) legendary bit, here's a 'rebuttal' that I came across. 

Note:  I find both pieces to be flawed, but I couldn't help laughing as I read this so I am sharing.

An economics professor at Berkely said he had rarely failed a single student, but had once had a class in which most people passed but few learned anything.

The class (students) insisted that capitalism worked since everyone would be motivated to work hard be rich, and a rising level of wealth would benefit everyone . The professor then said, "OK, we will have an experiment in this class on capitalism."

"All grades will be competed for and everyone will work against each other to earn the highest grade."

After the first essays were graded the marks were awarded and were distributed across the class in the manner of a bell curve. Some students who had studied hard were upset that they got lower grades because wealthier students who had studied very little but had bought their essays got the available As.

As the second essay rolled around, most of the students who had studied hard studied less in order to take on part-time jobs and buy quality essays. Some of the very brightest studied even harder to try and beat the quality of the purchased essays. The ones who had bought their essays in the first place didn’t study at all and got their parents to pay for even better essays to ensure they stayed ahead of the game. Three students who did study hard dropped out of the class altogether in order to write essays on commission for the wealthy students. The cost of essays rose and the number of students who could afford quality essays was low. Only a few people got an A and most got C’s

The richer students who didn’t care about their education were happy. The smart students were unhappy and exhausted from study and/or part-time work. Whether they studied or not they got consistently lower marks. The average students had dropped out to service the wealthier students’ demand for extremely high quality essays – which they could produce by working in teams.

By the time the marks were in for the third essay it was clear that the wealthier students had all the high marks while the best and brightest of the smart students could barely manage C’s The cut throat competition resulted in hard feelings massive distrust particularly between the students that produced their own work and those that relied on the work of others that they purchased.

In the end the smart students did poorly. The rich students did well and those who dropped out made money . The professor told them that capitalism would ultimately fail because competition means that people work against each other using whatever means necessary. This leads to some perceived benefits but ultimately bankrupts everybody.

I ran across the following article on Yahoo! titled 10 Cars That Sank Detroit that I want to share.  When the 3 auto manufacturers came to DC (both times) asking for a bailout, there was a lot of talk about unions bleeding the companies, high pension costs, etc.  Now those are important considerations, but in my opionion not the #1 problem.  I've said it several times here and I'll repeat it again:  the #1 reason Detroit has problems is because for the most part, their products stink.  American cars do not compare to imports and that's the bottom line.

Sure we make good SUVs and we make good pickups too, but that's not the bulk of autos on the road.  And those few that we do a decent job at are often not fuel efficient.  Back to the cars......what cars do we have that are good?  The Corvette......what else?  Pretty much nothing

If I had my way, I'd keep the Corvette, Jeep Wrangler and Cherokee and perhaps a few select cars.  The rest I'd ditch in the Mariana Trench and start clean.  Study the Germans and Japanese and learn from them.  Japan automobile imports went from crummy to hot in about 20 years.  I think the US can match their counterparts in 5 years.  I have never owned and American car and never will if they don't commit to a better product.  Detroit needs to get their heads out of their nether regions and recognize the real reason they're sinking.

Earlier today I ran across an article that I'm going to share titled 'Racists For Obama'.  I will not provide an in-depth commentary because this could potentially be a heavy subject.  The reason I'm sharing is because it has an interesting juxtoposition of race and our country's current economic conditions.  In a twisted way, this article shows that racism in the US isn't quite as we thought.  (I kinda felt like Stanley Kubrick's somehow involved in this piece)

To be honest, if I were to write about this I'm not sure where to start.  But it does provide a fascinating read (it's only 2 pages long).  Note the picture of the Obama sign and the Confederate Flag.

Radius


The latest residential addition to the downtown Hollywood area is Radius.  Rising 15 stories it is the premier luxury high-rise condo building in the area.   The downtown area of Hollywood has been somewhat blighted and is undergoing revitalization so the opening of Radius is yet another positive step in the transformation of the downtown area. 

Radius offers One Bedroom/One Bath units up to Three Bedroom/Two Bath ones, with prices currently ranging from $215k to $560k.  They currently rent from $1600 to $2600 per month.  Each unit comes with Italian cabinetry, stainless-steel appliances and granite countertops throughout.  Flooring includes selections of tile or carpet.

Amenities in the building include a clubhouse, 24-hour concierge, internet access, a rooftop pool, fitness center, covered controlled access parking, optional valet parking and more.

Best of all is the location of Radius – its proximity to Downtown Hollywood, to the beach, to the airport and more is unparalleled.  Walk across the street to the ArtsPark to enjoy a concert or relax under a tree and read a book.  You’re one block away from a number of restaurants and other local establishments.  Travel is made easy with 10 minute jaunt to Ft. Lauderdale/Hollywood Airport.  Radius is a mixed-use building so the 1st floor is occupied by a number of well-known establishments including FedEx/Kinkos, Starbucks, Smoothie King, Elite Coastal Properties and RBC.

For more information about Radius or any other place in Hollywood, contact Tchaka Owen at 954.552.6112.

Note:  This is not a politically correct post.

My cousin in AZ forwarded this email to me earlier and I got a good laugh out of it.  I don't know if it's all factual so let me state that as a caveat upfront.  It's good for a laugh though.

Dear Red States:

If you manage to steal this election too, we've decided  we're leaving.

We intend to form our own country, and we're taking  the other Blue States with us. In case you  aren't aware, that includes California, Hawaii, Oregon,Washington, Minnesota, Wisconsin, Michigan, Illinois and all the Northeast.

We believe this split will be beneficial  to the nation, and especially to the people of the new country of New  California.

To sum up briefly: You get Texas, Oklahoma and all the slave states.  We get stem cell research and the best beaches. We get the Statue of Liberty. You get  Dollywood.

We get Intel and Microsoft. You get WorldCom.

We get Harvard. You get Ole' Miss.

We get 85% of America's venture capital and entrepreneurs. You get Alabama.

We get two-thirds of the tax revenue, you get to make the red states pay their fair share.

Since our aggregate divorce rate is 22% lower than the Christian Coalition's, we get a bunch of happy families. You get a bunch of single moms.

Please be aware that Nuevo California will be pro-choice and anti-war, and we're going to want all our citizens back from  Iraq at once. If you need people to fight, ask your evangelicals. They have kids they're apparently willing to send to their deaths for no purpose, and they don't care if you don't show pictures of their children's caskets coming home. We do wish you success in Iraq, and hope that the WMDs turn up, but we're not willing to spend our resources in Bush's Quagmire.

With the Blue States in hand, we will have firm control of 80% of the country's fresh water, more than 90% of the pineapple and Lettuce, 92% of the nation's fresh fruit, 95% of America's quality wines, 90%  of all cheese, 90% of the high tech industry, 95% of the corn and soybeans (thanks Iowa!), most of the U.S. low-sulfur coal, all of our remaining living redwoods, sequoias and condors,all the Ivy League and Seven Sister schools plus Stanford, Cal Tech and MIT.

With the Red States, on the other hand, you will have to cope with 88% of all obese Americans (and their projected health care costs), 92% of all U.S. mosquitoes, nearly 100% of the tornadoes, 90% of the hurricanes, 99% of all Southern Baptists, virtually 100% of all televangelists, Rush Limbaugh, Bob Jones University, Clemson and the University of Georgia.

We get Hollywood and Yosemite, thank you.

Additionally, 38% of  those in the Red states believe Jonah was actually swallowed by a whale, 62% believe life is sacred unless we're discussing the war, the death penalty or gun laws, 44% say that evolution  is only a theory, 53% that Saddam was involved in 9/11 and 61% of you  crazy bastards believe you are people with higher morals then we so called lefties.

Finally, we're taking the good pot, too. You can have that dirt weed they grow in Mexico.

Peace!  --Blue States

I was sold on the wines!

My girlfriend flew back down yesterday with a gift to me from her father.  I couldn't help but don it today...and it did elicit some smiles.  And for those who might be wondering, I do qualify to wear it.  Oh, no car bomb jokes, please.  :-)

For over a year now we've discussed the subprime meltdown and it's possible causes.  Was it the fault of lenders and their irresponsible (and lenient) guidelines?  Was it dishonest loan officers who lied on applications in order to qualify clients?  Perhaps it's appraisers who overinflated values of homes.  Or were their arms twisted by real estate agents who threatened not to send them future business if they didn't make the values fit?  Personally I think it's a combination of all the above and probably other factors as well.

Fast-forward to the financial crisis we are experiencing now and somehow all the blame rests on Fannie/Freddie and lending to minorities.  Wow!

I'd like to contribute the following piece from Daniel Gross of Slate titled 'Subprime Suspects'