Another example of Stuart Varney not understanding Silicon Valley

Varney, of course, is against an increase in the minimum wage because, as he says, it makes employees greedy. And then, of course, he decides to give an example of how increasing the minimum wage will drag dowm innovation:

“Let me take you back to Google,” Varney opined. “In the earlier days of Google, they had all kinds of youngsters, up and coming strivers, who would work day and night. That’s how they built the company. Tech startups with really a drive to succeed and climb that food chain.”

“Now if you bring this in, those high tech workers who started all these brilliant companies, they’ll be on the clock,” he insisted. “Instead of these overnight creative meetings, they’ll be saying, ‘Oh, I just exceeded my 40 hours, I’m due overtime. And if I don’t get it, I’m going to sue.’”

I assure you: none of the engineers at Google worked for minimum wage or were hourly. I assure you none of them are hourly to this day.

What an assrocket.

(Raw Story)

Target-rich environment

face-palm

our old pal, Ewick Son of Ewick has embarrassed himself again:

You guys in the press who are reading this right now can be such shameless whores…But you journalists have such erections for everything Barack Obama does, you can’t even summon outrage to report fairly on the latest b.s. from the administration over Obamacare. Is it any wonder so many people have stopped trusting you?

I think E2 means that because the press wants to bone The Kenyan Usurper that they are not investigating his many high-crimes and misdemeanors and helping to have him impeached. Or something. It was kinda hard to read, he seems to be writing while in a fugue state.

From the mind of Megan McArdle

Megan McArdle

Amazon’s Bad Omen for the U.S. Economy

Besides the fact that Libertarian nitwit and would-be public intellectual McArdle is taking a single datapoint and making a trend announcement out of it (Amazon did not make the numbers she expected and therefore the economy is tanking), there is this little gem of logic:

That’s not just disappointing for Amazon; it’s also not great news for the U.S. economy. When retail foot traffic and sales were disappointing in December, the standard explanation was that people must be moving their purchases online. Obviously, they weren’t — at least, not nearly as much as analysts expected. Given how dominant Amazon is in e-commerce, this should cause most of us to revise our expectations of fourth-quarter retail sales, as well as growth in gross domestic product. And not in a good direction.

“When retail foot traffic and sales were disappointing in December, the standard explanation was that people must be moving their purchases online,” because spending is a constant? Because why? Is the world really a zero-sum, closed system?

Or could it be because analysts were wrong?

Anyway, because analysts were wrong, Amazon stock is now plunging. In what way does this make sense? This week Apple had a huge announcement, the best quarter ever, but analysts had expected more and now Apple stock is lower and the usual suspects are talking about how Apple is doomed.

Economists have tried to declare their studies a science, with cause/effect and predictable outcomes. The whole worship of the Invisible Hand is based upon the belief that markets act rationally. They don’t. People’s economic conditions are fluid, not rational, and they make buy/not buy decisions based upon their own needs and wants. There is no predictive behavior, and to the extent that one can analyze markets at all it is only in hindsight.

More Trouble for Divorce D’Spousa

It seems that besides not knowing that one needs to be divorced before becoming engaged to mistress/future wife #2 (and that she needs to be divorced as well), that our old pal Divorce D’Spousa doesn’t understand campaign finance laws:

The indictment alleged D’Souza “knowingly made and caused to be made” contributions “in the names of others” during 2012. According to the indictment, D’Souza then “reimbursed others with whom he was associated and who he had directed to contribute a total of $20,000 to the campaign.”

He is due to be arraigned tomorrow in Manhattan federal court.

(TPM)

The GOP’s Uncivil War

Weepy-McDrunky

The WaPo tells us the latest state of play:

First, the Senate voted by 79-19 to end debate on the House bill defunding Obamacare, defying Senate conservatives. Ted Cruz: We are the 19 percent! And second, the Senate voted on party lines, 54-44, on final passage of the measure after stripping it of the defunding, sending it back to the House.

[Snip]

Robert Costa reports that Cruz is privately urging House conservatives to oppose House Speaker John Boehner if he does anything short of maintain a total war posture against Obamacare.

So, in other words, Weepy is pretty much a human pincushion he’s being stabbed in the back so much.

This would be amusing if the stakes were not so high.

This moment of stupidity…

Obama-gibbs-facepalm

…is brought to us by The Gateway Pundit—“Another Obama Failure:Russian Man Brutally Raped and Tortured For Being Gay After Obama Met with LGBT in Russia”

During the G20 summit in St. Petersburg, Obama snubbed Putin by cancelling their meeting and instead met with LGBT activists in Russia. Many were worried about the political repercussions for the activists because Obama’s visit with the LGBT might fuel the growing anti-Western attitudes in Russia. The LGBT in Russia was not entirely pleased with Obama’s visit.

Now video of a Russian man being tortured and raped by 6 or 7 “vigilantes” was released. The vicious attack occurred a week after Obama met with the LGBT in Russia.

Yes, James Hoft the dumbest man on the internet is blaming The Kenyan Usurper for the horrific assault a gay man in Russia endured.

There is not enough face-palm in the world for Jim Hoft. There just isn’t.