WSJ: You won't believe what's in that stimulus bill

A 40-Year Wish List: You won't believe what's in that stimulus bill
(Wall Street Journal, 1/28)

The 647-page, $825 billion House legislation is being sold as an economic "stimulus," but now that Democrats have finally released the details we understand Rahm's point much better. This is a political wonder that manages to spend money on just about every pent-up Democratic proposal of the last 40 years.

We've looked it over, and even we can't quite believe it. There's $1 billion for Amtrak, the federal railroad that hasn't turned a profit in 40 years; $2 billion for child-care subsidies; $50 million for that great engine of job creation, the National Endowment for the Arts; $400 million for global-warming research and another $2.4 billion for carbon-capture demonstration projects. There's even $650 million on top of the billions already doled out to pay for digital TV conversion coupons.

WSJ: Why the Prisoner Endures

Why 'The Prisoner' Endures
(Wall Street Journal, 1/20)

Eventually tiring of the John Drake role, Mr. McGoohan was able to persuade his British boss to bankroll a series in which a Drake-like character would explore more meaty themes. He delivered a libertarian classic, somewhat marred by the hurriedly written final episode in which Mr. McGoohan's character leads the Village's other inhabitants in a successful revolt. He finally confronts Number One, who is wearing a false face. When that is yanked off, a monkey mask is revealed. And when that is also pulled off, the face of Mr. McGoohan himself is seen.

WSJ: 'Tough Love' in the Outback

'Tough Love' in the Outback:
Australia's Push to Help Aborigines Is Upending Tribal Customs -- And Giving Women an Unlikely Boost
(Wall Street Journal, 1/17)

Aboriginal society has experienced a dramatic decline -- partly a result of these very reforms. Australia's government has proclaimed the upsurge of violence, child abuse and alcoholism among Aborigines a national emergency. It is responding with controversial new policies that critics decried as racist, such as restricting welfare payments to Aborigines but not to whites or other Australians.

Those policies, however, are starting to show early results, the government says. They are also shaking up the Aborigines' ancient social structure. In Yuendumu, for example, the policies have unleashed a nascent feminist movement which is threatening to erode the vast powers of male tribal elders.

Wall Street Journal: American Power Is on the Wane

American Power Is on the Wane
(Wall Street Journal, 1/14)

The first reason, surely, is the U.S.'s truly exceptional budgetary and trade deficits. There is nothing else in the world like them in absolute measures and, even when calculated in proportion to national income, the percentages look closer to those you might expect from Iceland or some poorly run Third World economy. ...

The third thing I'm really scared about is that we'll likely have very little money ourselves to pay for the Treasury bonds that are going to be issued, in tens of billions each month, in the years ahead. Sure, some investment firms, bruised by their irrational exuberance for equities and commodities, will take up a certain amount of Treasury issues even at a ridiculously low (or no) rate of return. But that will not cover an estimated budget deficit of $1.2 trillion in 2009.

The big question now is whether the world will have a market for all the new treasury bonds the government will be issuing. There comes a point where the "full faith and credit" of the U.S. Government implodes. --GC

Wall Street Journal: What It Cost to Fly Your Baggage

I may have played a role in this article in the Wall Street Journal.

What It Costs An Airline to Fly Your Luggage (11/25/08)

A researcher for The Middle Seat contacted me about my article on baggage handling published on my Kilroy Cafe blog (Zen and the Art of Baggage Handling). He was going to interview me for a WSJ blog but never did. Nonetheless, I think some of my info got into the article.

One interesting factoid:

One rough formula sometimes used in the airline business to approximate fuel costs is that it requires 3% to 5% of the weight of an object in fuel to fly it one hour. That means at current fuel prices, it would cost about $1 to $2 to fly a 40-pound bag on an average three-hour trip.

That may lead to an estimate of how much fuel my own airline uses to fly me across the country (maybe $10-20 per trip).