May 13, 2013
David G. Savage:
Church-state, literally? Supreme Court weighing public school graduation in a church
May 10, 2013
Rabbi Berel Wein: Be all that you should be
May 8, 2013
Peter Ford: Why China is welcoming both Israel's Netanyahu and Palestinians' Abbas
Obama administration quietly backs out of appeal over new contraceptive mandate
At Kerry-Putin meeting, US-Russia relations thaw --- a tad
The Kosher Gourmet by Leela Cyd Ross :
Almost too pretty to eat, this colorful salad with Sicilian inspiration will tickle the taste buds and delight your visual sensibility
May 6, 2013
May 3, 2013
Kids, kittens the Same?
With employee perks at struggling Internet pioneer Yahoo! it's hard to tell
Artificial kidney offers hope to patients tethered to a dialysis machine
April 29, 2013
Poland's new Jewish museum celebrates life, doesn't revisit Holocaust
Terrorism in America: Is US missing a chance to learn from failed plots?
Boston Bomber's 'Svengali' Revealed
Tiny satellites + cellphones = cheaper 'eyes in the sky' for NASA
April 26, 2013
Clifford D. May:
Defense in the Age of Jihadist Terrorism
Sharon Palmer, R.D.:
How to feel your best -- with plenty of energy, a healthy weight and optimal mental and physical function -- without driving yourself batty
April 24, 2013
Admit it: No one has any idea what's going on
April 22, 2013
US man departing country arrested on terror charges
An unorthodox but growing treatment in a 9-year-old's battle against cancer
April 19, 2013
Caroline B. Glick:
Why Obama's visit to Israel had no impact on public opinion or government policy
Gold collapse: The start of something big?
Livable super-Earths? Two candidates among Kepler's latest finds
April 17, 2013
Too much of a good thing? 'Palestinians' realize downside of foreign aid boom
BAD NEWS: EVERYONE IS RIGHT!
April 15, 2013
Egyptian Christians respond with harsh words to attack -- rocks, Molotov cocktails, and gunfire -- against main cathedral
Marcy Darnovsky and Karuna Jaggar:
High Court to decide if you should own your DNA
US bracing for more Russian blowback after taking action against 18 more human rights violators
April 12, 2013
New cybersecurity bill: Privacy threat or crucial band-aid?
Jewz in the Newz by Nate Bloom:
The Kosher Gourmet by Susan Russo:
Jackie Robinson's Friend, Hank Greenberg; CNN's Jake Tapper; Texas County in the News is named for 19thC. Jewish soldier and Congressman
FRUITY QUINOA STUFFED PEPPERS: A flavorful, colorful and edible vessel of delicately fluffy, mildly nutty filling combined with chewy apricots, tangy cherries, and crunchy pistachios
April 10, 2013
North Korean missiles: Could US shoot them down?
Warning: Don't waste your capital being fooled by profit prophets
Donald Hensrud, M.D.:
Mayo Clinic Medical Edge: Take vitamin supplements with caution --- even approved, they may actually do damage
74 DNA discoveries move cure closer for three cancers
April 8, 2013
Jonathan Tobin: What Part of No Preconditions Do American Jews Not Get?
Is Putin finally trading his own party for a new power base?
Jewish World Review
The price of moral grandstanding: The folly of libs' high-minded investing
Politics becomes amusing when liberalism becomes theatrical with high-minded gestures. Chicago’s government, which is not normally known for elevated thinking, is feeling so morally upright and financially flush that it proposes to rise above the banal business of maximizing the value of its employees’ and retirees’ pension fund assets. Although seven funds have cumulative unfunded liabilities of $25 billion, Chicago will sacrifice the growth of those assets to the striking of a political pose so pure it is untainted by practicality.
Emulating New York and California, two deep-blue states with mammoth unfunded pension liabilities, Chicago Mayor Rahm Emanuel (D) has hectored a $5 billion pension fund into divesting its holdings in companies that manufacture firearms. Now he is urging two large banks to deny financing to such companies “that profit from gun violence.” TD Bank provides a $60 million credit line to Smith & Wesson, and Bank of America provides a $25 million line to Sturm, Ruger & Co.
Chicago’s current and retired public employees might wish the city had invested more in both companies. Barack Obama, for whom Emanuel was chief of staff, has become a potent gun salesman because of suspicions that he wants to make gun ownership more difficult. Since he was inaugurated four years ago, there have been 65 million requests for background checks of gun purchasers. Four years ago, the price of Smith & Wesson stock was $2.45. Last week it was $8.76, up 258 percent. Four years ago, the price of Sturm Ruger stock was $6.46. Last week it was $51.09, up 691 percent. The Wall Street Journal reports that even before “a $1.2 billion balloon payment for pensions comes due” in 2015, “Chicago’s pension funds, which are projected to run dry by the end of the decade, are scraping the bottoms of their barrels.”
Nevertheless, liberals are feeling good about themselves — the usual point of liberalism — because New York state’s public pension fund and California’s fund for teachers have, the New York Times says, “frozen or divested” gun holdings, and Calpers, the fund for other California public employees, may join this gesture jamboree this month. All this is being compared to the use of divestment to pressure South Africa to dismantle apartheid in the 1980s. Well.
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Apartheid was a wicked practice. Guns are legal products in America, legally sold under federal, state and local regulations. Most of the guns sold to Americans are made by Americans. Americans have a right — a constitutional right — to own guns, and 47 percent of U.S. households exercise that portion of the Bill of Rights by possessing at least one firearm.
For Emanuel to say that gun makers “profit from gun violence” is as sensible as saying automobile manufacturers “profit from highway carnage” — which, by the way, kills more Americans than guns do. Emanuel, who is more intelligent than he sounds (just as many think Wagner’s music is better than it sounds), must know that not one fewer gun will be made, sold or misused because Chicago is wagging its finger at banks.
Moral grandstanding, however, offers steady work, and the Chronicle of Higher Education reports a new front in “the battle against climate change”: “Student groups at almost 200 colleges and universities are calling on boards of trustees to divest their colleges’ holdings in large fossil-fuel companies.” Of course, not one share of those companies’ stock will go unsold because academia is so righteous. Others will profit handsomely from such holdings and from being complicit in supplying what the world needs. Fossil fuels, the basis of modern life, supply 82 percent of U.S. energy, and it is projected that they will supply 78 percent of the global increase in energy demand between 2009 and 2035, by which time the number of cars and trucks on the planet will have doubled to 1.7 billion.
Institutions of higher education will, presumably, warn donors that their endowments will be wielded in support of the political agenda du jour, which might include divesting from any company having anything to do with corn, source of the sweetener in many of the sodas that make some people fat and New York’s mayor cranky. Or anything to do with red meat, sugar, salt, trans fats, chickens not lovingly raised . . . .
Liberal ethicists may decide that the only virtuous investments are in electric cars. The Obama administration says that 1 million will be sold by 2015. Maybe 70,000 have been so far. Just imagine how pension funds will prosper by betting on the next 930,000.
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