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Update

79Au / 16 Psyche

What happened to 3I/Atlas — so often mentioned in these updates? Did it swing around Jupiter? Did it leave anything behind? Actually, its trajectory was altered by Jupiter’s gravitation, making it look awfully suspicious, as in a trillion-to-one shot. That being said, the interstellar “comet” entered our solar system from the direction of Sagittarius and is now departing in the opposite direction, toward Taurus.

Public discussion of the object has dropped off, however, replaced by sexier discussion of UFO disclosure files and, uh, gestures towards disclosure.

Which many people dismiss as a “distraction” — but from what? The war?

But what if the war serves a distraction from UFOs?

Meanwhile, there’s the eternal element of distraction, gold.

You’ve probably been hearing that there exists an asteroid in our solar system with enough gold to “make everybody billionaires.” 

There is such an asteroid, but this billionaire angle would be true only were the world on a gold standard — but then inflation would bring down the value of gold to nothing, leaving all those new billionaires no better off. Inflation of the money supply doesn’t make us richer.

But forget the meming of the asteroid. We aren’t on a gold standard: gold serves neither as a medium of exchange nor unit of account. So bringing earthside all that heavenly gold home would merely mean that our gold hoards would decrease in value, allowing lamposts and dog houses to be efficiently plated in gold.

The real story is that NASA is indeed aiming to take a close look at the situation:

“NASA’s Psyche spacecraft has just flown closer to Mars than the planet’s own moons en route to the metallic asteroid 16 Psyche,” explains the aptly named Marielle Moon. “It was a planned maneuver so that the spacecraft can get gravity assist from the red planet and conserve fuel, specifically the xenon gas propellant its solar-electric ion thruster system uses. The flyby gave Psyche a speed boost and changed its trajectory so that it’s now aligned with its target asteroid’s orbit around the sun.”

But don’t dishoard your yellow metal just yet: “Psyche started its six-year, 2.2-billion-mile journey towards its namesake asteroid in late 2023. It’s expected to reach its destination in July 2029 and to start working on its objectives the next month. The spacecraft will spend two years orbiting the asteroid ‘to take pictures, map the surface and collect data to determine Psyche’s composition.’”

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Thought

Walter Williams

We should view our government the way we should a friendly, cuddly lion. Just because he’s friendly and cuddly shouldn’t blind us to the fact that he’s still got teeth and claws.

Walter E. Williams, Conservative Chronicle (August 30, 1995).
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Today

Watergate Hearings

Fifty-three years ago, on May 17, 1973, televised hearings regarding the Watergate scandal began in the United States Senate, Sen. Sam Ervin presiding.

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Thought

Walter Williams

But let me offer you my definition of social justice: I keep what I earn and you keep what you earn. Do you disagree? Well then tell me how much of what I earn belongs to you — and why?

Walter E. Williams, All It Takes Is Guts (1987).
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Today

Oregon Trail

On May 16, 1843, one thousand pioneers from Elm Grove, Missouri, set off for the Pacific Northwest, blazing what became known as the “Oregon Trail.”

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ideological culture media and media people

Trying Souls

“Could this be the Antichrist?” 

 So wondered out loud today’s most popular conservative voice . . . about President Donald J. Trump.  

That commentator, Tucker Carlson, then answered himself: “Well, who knows?”

 Later, speaking to Lulu Garcia-Navarro with The New York Times, Mr. Carlson denied (thrice) ever verbalizing that eschatological question. 

Of course, as Scott Jennings points out, Tucker contextualized the matter by asserting that the president was “more of a hostage” to Israeli Prime Minister Benjamin Netanyahu in deciding to go to war against Iran. “Seems to me it has to be one or the other,” offered Jennings. “Are you a supernatural evil being or are you some weak hostage or slave to other people?”

 “These are the times that try men’s souls,” Tom Paine once wrote; today, it’s more “fry their sensibilities.”

 Consider the recent NewsGuard/YouGov survey that found 36 percent of Democrats believe the recent shooting at the White House Correspondents’ Dinner was staged, while a whopping 42 percent of Democrats fancy the failed Butler, Pennsylvania, assassination attempt against then-candidate Trump a false flag operation. Eerily, this dovetails with Hal Lindsey’s speculations, in his 1970 bestseller, The Late, Great Planet Earth, that the Antichrist would make his play for power after appearing to survive a mortal wound.

 “There’s really not a lot of evidence that these social media users are citing or relying on,” explains Sofia Rubinson, NewsGuard’s senior editor. “It’s really just this belief and this distrust that the government is acting honestly and is giving us accurate information.”

 Has distrust of our leaders and the media, both well earned, metastasized into a widespread belief that the End Times are here?

This is Common Sense. I’m Paul Jacob.


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Thought

James Mill

Demand and supply are terms related in a peculiar manner. A commodity which is supplied, is always, at the same time, a commodity which is the instrument of demand. A commodity which is the instrument of demand, is always, at the same time, a commodity added to the stock of supply. Every commodity is always, at one and the same time, matter of demand, and matter of supply. Of two men who perform an exchange, the one does not come with only a supply, the other with only a demand; each of them comes with both a demand and a supply. The supply, which he brings, is the instrument of his demand; and his demand and supply are of course exactly equal to one another.

James Mill, Elements of Political Economy (1821; 1844), Chapter 4, “Consumption” Section III, “That Consumption Is Co-Extensive With Production.”

Categories
Today

Virginia for Independence

On May 15, 1776, the Virginia Convention instructed its Continental Congress delegation to propose a resolution of independence from Great Britain, paving the way for the United States’ Declaration of Independence.

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international affairs national politics & policies regulation tax policy

How to Lower Gas Prices

Gasoline prices have skyrocketed. The Iran War is to blame, but the President has not been able to bring it to an end.

Still, he has offered a small fix. A federal gas tax suspension!

In its favor, this temporary measure would offer some relief. In addition, the federal government shouldn’t be attaching an excise to fuel sales anyway. The states already burden our fuel bills with their own taxes.

As if to seize a political win, Senator Josh Hawley (R.-Mo.) declared he will introduce a bill to enact that suspension.

Cutting off a source of revenue would increase the deficit, of course. But there is a simple solution to that: spend less. For example, the fuel taxes are supposed to fund road repairs. All but two percent of U.S. roads are state roads now. During the emergency, suspend the two percent spending on repairs and let the 98 percent of spending carry on, as it does now, at the state level.

Adam N. Michel at Cato argues that the best way to spend less would not only reduce the deficit but also lower gas prices: end the Iran War. 

And not just rhetorically. 

But Michel and his Cato colleagues offer a more politic plan, too: don’t merely suspend the tax, end the tax forever and end the highway spending burden along with it. “States know what their infrastructure needs are,” he contends, “and they have the fiscal tools — gas taxes, sales taxes, user charges, debt, and privatization — to meet them without a federal middleman.” 

Before October, Congress is supposed to re-authorize the federal highway program. Don’t. Dismantle it all. 

For good.

This is Common Sense. I’m Paul Jacob.


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Thought

Tom Paine

I care not how affluent some may be, provided that none be miserable in consequence of it.

Thomas Paine, Agrarian Justice (1797).