This is why we have to go 5000 feet to drill for oil.

Once again the Omniscient government at work

Of course they will take no blame and use capitalism as a punching bag

Source: Carpe Diem

The elegant wastefulness of a million turns of the hand

Selections: Pocketbooks, Cars and the Mystique of the Handmade, By ERIC FELTEN

. . . Why the preference for the handmade, anyway? Yes, there are still goods where skilled craftsmanship makes all the difference: No machine can match the judgment of an experienced luthier, who has to adapt to the acoustic quirks of each piece of wood he carves for a violin. But does it matter whether a product is crafted by hand or stamped out by machine, if the consumer can't tell the difference?

The aura of the handmade has been around ever since machines displaced tools as the main means of manufacture. Nineteenth-century moralists lamented the loss of honest craftsmanship and built a movement embracing goods that were objectively less well made than their factory-made counterparts.

Thorstein Veblen derided this as "exaltation of the defective," which he disdained as just another manifestation of the leisure class's taste for waste. He sneered at the "propaganda of crudity and wasted effort," that led such advocates of the artisanal as John Ruskin to champion products of "painstaking crudeness and elaborate ineptitude" over the "visibly more perfect goods" made cheaper by machines. He hated the smug vanity of people flaunting Ruskin's rough-hewn books.

There is a robust Ruskinite movement afoot again today, celebrating the rustic and exalting in, if not the defective, the artless (where art is understood as artifice). It is in foodstuffs where the modern taste for the artisanal flourishes most fully. Many are the farmers markets now offering bruised peaches and splotchy tomatoes as a rebuke to the plastic gloss of supermarket produce. . .

Once upon a time the craftsman's touch could be displayed through personalization—the adding of monograms and various options for customization. Machine-made goods came off the assembly line with a perfect sameness that was a liability: making the ability to choose and specify details a great luxury. But in the last 20 or 30 years, computer-controlled production has democratized customization. When you can order a computer-cut shirt from Land's End for $50, customization loses its upper-crustiness. . .

If imperfection becomes a desirable luxury- good quality, savvy factory manufacturers will simply start programming their computers to insert certain random and human-seeming flubs into the products. Advertising police will never stop luxury goods from delivering more mystique than reality. That may make such pricey purchases a conspicuous waste of one's money—but wasn't that always the point?

Tom Coburn, the only incumbent worth fighting for?

Stephen Moore writing in the Journal's Political Diary e-newsletter:

It's on almost no one's radar screen, but Oklahoma is hosting a Senate race this year—a race, but not a contest. In a year when many incumbents are supposedly in deep trouble, Republican Tom Coburn faces not a single challenger from either party. "He's easily the most popular politician in Oklahoma," says Stuart Jolly, director of the Oklahoma chapter of Americans for Prosperity. "No one will run against him, because no one can come anywhere close to him."

One obvious reason is Mr. Coburn's unrelenting battle against the same status quo (e.g., earmarks) that voters this year have decided they are sick of. It began when he first arrived in the Senate and Democrats immediately slapped him with an ethics complaint for continuing to practice medicine, which Dr. Coburn said he would do partly to avoid becoming too attached to his Senate salary and perks.

This week, Dr. Coburn, from the town of Muskogee, made a startling revelation that should silence his critics. He lost $11,000 in his practice last year because, while he has kept seeing patients, he doesn't charge them. "I want to keep practicing medicine even if I don't make money at it. I'm prouder of being a doctor than a Senator," he recently told me in all seriousness.

Mr. Coburn is already being mentioned as a possible presidential candidate in 2012, and his stock will certainly rise after what looks like a runaway re-election victory in 2010, especially because he's been freed up to put his time into raising money for other candidates. "He's one of the godfathers of the tea party movement," says Matt Kibbe, director of Freedom Works. That gives Mr. Coburn a growing national base that few other Republicans have shown any knack for tapping into.

We are in one reality, he's in another

Excerpts: He Was Supposed to Be Competent, By PEGGY NOONAN, Wall Street Journal

. . . The president, in my view, continues to govern in a way that suggests he is chronically detached from the central and immediate concerns of his countrymen. This is a terrible thing to see in a political figure, and a startling thing in one who won so handily and shrewdly in 2008. But he has not, almost from the day he was inaugurated, been in sync with the center. The heart of the country is thinking each day about A, B and C, and he is thinking about X, Y and Z. They're in one reality, he's in another.

The American people have spent at least two years worrying that high government spending would, in the end, undo the republic. They saw the dollars gushing night and day, and worried that while everything looked the same on the surface, our position was eroding. They have worried about a border that is in some places functionally and of course illegally open, that it too is gushing night and day with problems that states, cities and towns there cannot solve.

And now we have a videotape metaphor for all the public's fears: that clip we see every day, on every news show, of the well gushing black oil into the Gulf of Mexico and toward our shore. You actually don't get deadlier as a metaphor for the moment than that, the monster that lives deep beneath the sea.

In Cambodia, millions were murdered with hammers, in Rwanda with machetes.

Selections: The World Is a Cruel Place -- and If America Weakens, It Will Get Crueler, Dennis Prager

One of the many beliefs -- i.e., non-empirically based doctrines -- of the post-Christian West has been that moral progress is the human norm, especially so with the demise of religion. In a secular world, the self-described enlightened thinking goes, superstition is replaced by reason, and reason leads to the moral good.

Of course, it turned out that the post-Christian West produced considerably more evil than the Christian world had. No mass cruelty in the name of Christianity approximated the vastness of the cruelty unleashed by secular doctrines and regimes in the post-Christian world. The argument against religion that more people have been killed in the name of religion than by any other doctrine is false propaganda on behalf of secularism and Leftism.

The amount of evil done by Christians -- against, for example, "heretics" and Jews -- in both the Western and Eastern branches of Christianity -- was extensive, as was the failure of most European Christians to see Nazism for the evil that it was. The good news is that Christian evils have been acknowledged and addressed by most Christian leaders and thinkers.

But there were never any Christian Auschwitzes -- i.e., systematic genocides of every man, woman and child of a particular race or religion. Nor were there Christian Gulags -- the shipping of millions of innocents to conditions so horrific that prolonged suffering leading to death was the almost -inevitable end.

The anti-religious Left offers two responses to these facts: The first is that modern technology made the Nazi and Communist murders of scores of millions possible; had the church been technologically able to do so, it would have made its own Auschwitz and Gulag. The second is that Nazism and Communism were religions and not secular doctrines.

The response to the first is that technology was not necessary for the Communist murders of over a hundred million innocent people in the Soviet Union, China, Cambodia and elsewhere. In Cambodia, millions were murdered with hammers, in Rwanda with machetes.

The response to the second is that Communism and Nazism were secular movements and to deny that is to tell a gargantuan lie. Even if one argues that Nazism and Communism were religions, they were nevertheless secular religions. That too many Christians morally failed when confronted with Nazism is true, but irrelevant to the fact that Nazism was in no way a Christian movement.

A liberal who was mugged by the laws of thermodynamics

Selections: Going "Green, "John Stossel

"The problem is very simple," Bryce said. "It's not political will. It's simple physics. Gasoline has 80 times the energy density of the best lithium ion batteries. There's no conspiracy here of big oil or big auto. It's a conspiracy of physics.

Robert Bryce, author of "Power Hungry: The Myths of 'Green' Energy" says: "Nine out of 10 units of power that we consume are produced by hydrocarbons -- coal, oil and natural gas. Any transition away from those sources is going to be a decades-long, maybe even a century-long process. ... The world consumes 200 million barrels of oil equivalent in hydrocarbons per day. We would have to find the energy equivalent of 23 Saudi Arabias." Bryce used to be a left-liberal, but then: "I educated myself about math and physics.

Some other facts of physics:

The problem is that windmills cannot provide a constant source of electricity. Wind turbines only achieve 10 percent to 20 percent of their maximum capacity because sometimes the wind doesn't blow.

"That means you have to keep conventional power plants up and running. You have to ramp them up to replace the power that disappears from wind turbines and ramp them down when power reappears."

Yet the media rave about Denmark, which gets some power from wind. Bryce's book shows that Denmark uses eight times more coal and 25 times more oil than wind.

Bryce points out that energy production from every solar panel and windmill in America is less than the production from one coal mine and much less than natural gas production from Oklahoma alone.

"One nuclear power plant in Texas covers about 19 square miles, an area slightly smaller than Manhattan. To produce the same amount of power from wind turbines would require an area the size of Rhode Island. This is energy sprawl." To produce the same amount of energy with ethanol, another "green" fuel, it would take 24 Rhode Islands to grow enough corn.

There have been impressive headlines about electric cars from my brilliant colleagues in the media. The Washington Post said, "Prices on electric cars will continue to drop until they're within reach of the average family."

That was in 1915. In 1959, The New York Times said, "Electric is the car of the tomorrow." In 1979, The Washington Post said, "GM has an electric car breakthrough in batteries, now makes them commercially practical."

I'm living in a food post-apocalyptic hellscape

Selections:The Obama Administration Chews the Fat, By Matt Purple

In 120 pages of Michelle's report, there's almost no mention of personal responsibility.

When the president announced that Michelle Obama would be heading up an anti-obesity task force last summer, most of us shrugged. Most presidents like to send their wives off on a health-related mission of some sort. . .

In retrospect, we probably should have been a little more concerned. In October, Mrs. Obama confessed that, as recently as two years ago, Sasha's and Malia's meals had been chock full of fast food and pizza. When the Obama family pediatrician told Michelle that this wasn't doing her daughters' health any favors, the First Lady's jaw hit the table. "I was shocked," she said.

The same woman who was floored by the news that Wendy's Baconators are unhealthy was assigned to spearhead the government's anti-obesity policies. That probably should have set off a few alarm bells.

Now we have the fruits of Michelle Obama's labor, so to speak. On May 11 the White House Task Force on Childhood Obesity released its official report, and it's a treasure trove of technocratic, finger-wagging nanny statism. The report purports to "solve" the child obesity crisis within a generation, and it's not kidding around. If the government acts on the task force's advice, we're about to be force-fed a five-course meal of do-gooder collectivism.

The anti-obesity plan would begin to federalize the entire food division of the nanny state. The task force recommends that the government look into slapping national taxes on junk food and subsidizing fruits and vegetables. The states' initiatives, in the First Lady's view, haven't succeeded in socially engineering the people enough . . .

Then there's the problem of food deserts -- not "desserts" but "deserts" -- and perhaps the crowning jewel of the ridiculousness of the whole anti-obesity initiative. Food deserts are defined as areas of the country that don't have access to a grocery store. The feds consider you stranded in a food desert if you live -- quoting from the report -- "more than a mile from a supermarket." . . .

I live about three-quarters of a mile from a grocery store, according to a quick odometer test. But my apartment complex is literally surrounded by the forces of darkness -- 7-Eleven, Chili's, Legal Seafoods, McDonald's, Subway, Dunkin Donuts, Potbelly's, Hamburger Hamlet, Sbarro's, Cosi's, Chipotle, a liquor store, and several bars. Forget deserts,

Oil and water eventually do mix

Lost in the Gulf: Perspective, By Ron Ross

Every drop of sea water all over the world contains decomposed oil, along with trace amounts of almost all other elements.

An inevitable casualty of an event such as the Gulf of Mexico oil spill is perspective. There are at least three prime examples of this -- emphasizing costs of something while ignoring the benefits, focusing on the short-run and ignoring the long-run, and forgetting that everything is relative. . .

The reaction and reporting of the Gulf oil spill is a sad example of perhaps the simplest but most common error of economic thinking. Politicians and media are focusing almost exclusively on only one side of the ledger -- the costs, while ignoring the equally important consideration of benefits.

Drilling in the Gulf has been going on for over 70 years. There are currently over 700 rigs in operation. This is only the second significant spill during that entire period. The oil rigs have even weathered numerous hurricanes. The Gulf of Mexico provides over one fourth of U.S. domestic oil production. Gulf oil production is currently over 1.3 million barrels a day and natural gas production is over 6 billion cubic feet a day. Gulf oil and gas production contributes over $100 million of benefit to the U.S. economy daily.

Everyone wishes the spill had not happened. Nevertheless, what will be the extent of the long-term, irreversible damage done by the spill? The largest oil spill in history occurred in the Persian Gulf during the first Gulf war, compliments of Saddam Hussein. The spill dumped approximately 8 million barrels of oil into the Gulf. Nevertheless, a UNESCO-sponsored study found only one year later that fisheries showed "few unequivocal oil pollution effects attributable solely to the 1991 oil spills." . .

It is no accident that accidents have been so rare. A spill is the last thing any oil company wants to see occur. The companies involved have strong incentives to prevent such disasters. They don't want to see their considerable investments lost or have to pay for the cleanup, and they definitely do not want to see lives lost. . . The rarity of blowouts demonstrates that the incentives work extremely effectively. The economic incentives are far more powerful and ever-present than regulations can ever be.

In the real world it is impossible to have a perfect track record. Real life necessitates choosing among imperfect alternatives. What if the probability is one major spill every fifty years? Should we cancel all future offshore exploration and recovery? We've had 70 years of highly beneficial production and only two significant spills. Much will be learned from the current spill which will reduce the probability of future spills.

The media has focused on the damage the spill has imposed on the fishing industry. They have not pointed out that the economic value of the oil and gas are over 50 times greater than the value of fish taken from the Gulf. How much of your own income is spent on gasoline and natural gas compared to what you spend on seafood? . .

For virtually the entire 70 year period of drilling in the Gulf, oil rigs and fishermen have coexisted with very few problems. The periods of time during which there have been problems are a tiny fraction of that time span. Should we make choices based on the long-run or the short-run?

Jobs American's will not do?

Or incentives and a lack of free markets that force farmers to fly in hundreds of workers from Jamaica.

Farm jobs are going unfilled to such a degree that now a huge fruit orchard in Okanogan County, desperate for someone to pick cherries and apples this summer, has turned to flying in hundreds of workers from ... Jamaica. That's right. From a Caribbean island more than 3,000 miles away. In all, this one farm has applied to bring in more than a thousand temporary foreign workers."

So why is this happening?

Washington has the second most generous unemployment benefits in the country of $586 per week as of May 3 (behind Massachusetts, which pays $628 per week or more than $31,000 per year) or more than $28,000 per year working 0 hours per week. Farm workers would "only" make about $24,380 per year picking apples, so it wouldn't make sense to work, and that could explain the "worker shortage" and why the orchard needs to hire 1,000 workers from Jamaica.

Mark Perry asks: How much lower than the current 9.9% would the jobless rate in the U.S. be today without the 99-weeks of unemployment benefits that can be as generous as $31,000 per year in some states?

Thanks to Carpe Diem

What NOT to do to Stop a Recession

The US has been in a recession for quite a while now, and the national debt tops $13 trillion. The federal government is also intent upon providing more and more stimulus to struggling industries to prevent them from failing and yet, the economy continues to show no signs of drastic improvement and new layoffs continue. Economist Jesus Huerta de Soto detailed the specific actions that government should not take to stop a recession. Huerta de Soto cataloged these items in Money, Bank Credit and Economic Cycles. The following list can be found on pages 436-439.

• The granting of new loans to companies from the capital goods stages to them from going through a crisis, suspending payments and having to reorganize. The granting of new loans simply postpones the eruption of the crisis, while making the necessary subsequent readjustment much more severe and difficult.
• Any policy of artificially preserving jobs which is financed with inflation or credit expansion is self-destructive, insofar as consumers spend the new money created, once it reaches their pockets, in a way that makes it impossible for those very jobs to be profitable. Hence the only labor policy is to facilitate the dismissal and rehiring or workers by making labor markets highly flexible.
• Monetary policies intended to maintain at all costs the economic boom in the face of the early symptoms of an impending crisis (generally, a down-turn in the stock market and real estate market), will not prevent the recession, even when they are sufficient to postpone its arrival.
• Any manipulation of the market rate of interest is counter-productive and exerts a negative effect on the liquidation process or generates new entrepreneurial errors. In fact we can conclude with Hayek that any policy which tends to maintain interest rates at a fixed level will be highly detrimental to the stability of the economy, since interest rates must evolve spontaneously according to the real preferences of economic agents with respect to saving and consumption.
• Any policy involving the creation of artificial jobs through public works or other investment projects financed by the government should be avoided. It is evident that if such projects are financed by taxes via the issuance of public debt, they will simply draw resources away from those areas of the economy where consumers desire them and toward public works financed by the government, thus creating a new layer of widespread malinvestment.

Quote of the day

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"It is the duty of the patriot to protect his country from his government". - Thomas Paine
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If they are against "Wall Street," why are they all sleeping in the same bed?

The Goldman Sachs connection:

-Joshua Bolton, chief of staff for George W. Bush, was a Goldman man
-Current New York Fed President William Dudley is a Goldman man
-Current Commodity Futures Trading Commission Chairman Gary Genslerhas been a responsible regulator under Obama, but he was a deregulatory hawk during the Clinton years, and worked at Goldman for nearly two decades before that.
-A top aide to Timothy Geithner, Gene Sperling, is a Goldman man
-Current Treasury Undersecretary Robert Hormats is a Goldman man
-Current Treasury Chief of Staff Mark Patterson is a former Goldman lobbyist
-Former SEC Chairman Arthur Levitt is now a Goldman adviser
-Neel Kashkari, Henry Paulson’s deputy on TARP, was a Goldman man
-COO of the SEC Enforcement Division Adam Storch is a Goldman man
-Former Sen. John Corzine, D-N.J., was Goldman’s CEO before Henry Paulson
-Rep. Jim Himes, D-Conn., was a Goldman Vice President before he ran for Congress
-Former House Minority Leader Dick Gephardt, D-Mo., now lobbies for Goldman

We are Greece

Public union's run a muck

NY Times -- "Roughly 3,700 retired public workers in New York are getting pensions of more than $100,000 a year. The New York Times collected this public information from the state’s two pension funds and four of the five city funds. The pension plan for the city's firefighters has yet to provide information, as required under public information laws. Some pension funds said they could not provide figures like job title or final salary; the N.Y.P.D. Pension Fund wouldn't not disclose names."

See list here and related article here.

source: Carpe Diem

More public sector union corruption

Pennsylvania Independent

Teachers Paid by Taxpayers for Union Work
Union work stipulations commonplace across the state

by DARWYYN DEYO

Pennsylvania Bucks County teachers are allowed up to 35 days a year off from actual teaching to instead work for their union . . . These types of contracts are commonplace across the state . . . There seems to be a mindset among those who like the status quo that it is acceptable to pay teachers for time when they are working for the union when they should be teaching our students.”

In the Download file Pennsbury contract it states “A total of thirty-five (35) teacher days upon request with advance notice will be granted for Association business,” . . . separate from vacation days or other paid-time off. The contract was originally for 2005-2009 but was renewed through June 2010. . .

When a teacher take this time off, the school pays for a substitute in addition to paying the teacher’s normal salary, even while they are not in the classroom.

More kids have phones than books

Kids use to read books, now they read texts

By Graeme Paton, Education Editor, UK Telegraph

Almost nine-in-10 pupils now have a mobile compared with fewer than three-quarters who have their own books in the home, it was disclosed.

According to figures, some 80 per cent of children with better than expected reading skills had their own books, compared with just 58 per cent who were below the level expected for their age group.

As part of the latest study, the trust surveyed more than 17,000 schoolchildren aged seven to 16.

It found that 85.5 per cent of pupils had their own mobile phone, compared with 72.6 per cent who had their own books. Among children in Key Stage 2 – aged seven to 11 – 79.1 per cent had a mobile compared with 72.7 per cent who had access to books.

Job creation solution

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The best jobs program the government can support right now is to give unemployed Americans the task of building the rest of the border fence. I have no problem having my tax dollars going to any American patriot who wants to work to secure our borders. Simple, effective, smart

The pro "comprehensive immigration" advocates/left will say that you can’t send back 13 million illegal’s, that it is impossible. Well I say, 13 million came here one at a time and 13 million can be deported, one at a time.

We are either a nation of laws or a lawless nation

Economic colapse? A warning based on reality and facts, not emotion

Selections: A Non-Cranky Defense of the Gold Standard
May 24, 2010 11:05 AM
By Avik Roy


. . . If the gold standard is merely a crankish obsession, then the ranks of obsessive cranks include not only Ron Paul but also Friedrich Hayek, Robert Mundell, Jude Wanniski, Robert Bartley, Jack Kemp, and Steve Forbes. That is to say, most of the leading exponents of supply-side economics. (Note that this roll call includes two Nobel laureates.) Indeed, sound-money policies have been at the core of conservative monetary policy from the beginning. It wasn’t too long ago that opponents of the gold standard, like William Jennings Bryan, were thought of as the cranky ones.

It is true that the gold standard is an unfashionable idea in Washington, but it is a mainstream one within the financial community. This is unsurprising on both fronts. The financial community is the consumer of government debt, and is therefore intensely attuned to the relationship of monetary policy to the value (i.e., default risk) of that debt. Investors see over and over again the pattern by which governments depart from hard-money policies (such as the gold standard) in order to engage in deficit spending, and then devalue their currencies in order to reduce the value of the debts they then incur. It is a story that all too frequently ends in credit default and economic collapse. The financial community sees no reason why the United States should be immune from the laws of economics.

On the other hand, the political class is attuned to the value of increasing government debt; that is, of building and rewarding political constituencies with high state spending and low taxation. So it is natural that a return to the gold standard is considered eccentric in Washington.

This is not to say that there aren’t thoughtful, disinterested critiques of the gold standard; there are (Milton Friedman comes to mind). But if we continue on our present fiscal course, it is only a matter of time before the bond vigilantes now ravaging Greece make their way across the Atlantic. When that happens (if not before), countries like China and Russia will take concrete steps to dissociate themselves from the U.S. dollar. Given that few other currencies are ready to take the dollar’s place, don’t be surprised if their next move is a transition back to a metals-based monetary system.

It can’t all be blamed on the sins of “society.”

Selections: Thomas Sowell, The Sources of Inequality

A heartbreaking social statistic is that children on welfare have only about half as many words per day directed at them as the children of working-class families — and less than one-third as many words as children whose parents are professionals. This is especially painful in view of the fact that scientists have found that the actual physical development of the brain is affected by how much interaction young children receive.

Even if every child entered the world with equal innate ability, by the time they were grown they would nevertheless have very different mental capabilities. Innate ability is the ability that exists at the moment of conception, but nobody applies for a job or for college admission at the moment of conception. Even between conception and birth, other influences affect the development of the brain, as well as the rest of the body.

The mother’s diet and her intake of alcohol or drugs affect the unborn child. Differences in the amount of nutrition received in the womb create differences even between identical twins. Where one of these identical twins is born significantly heavier than the other, and the lighter one falls below some critical weight, the heavier one tends to have a higher IQ in later years. They may be the same weight when they become adults, but they didn’t get the same nutrition back when their brains were first developing.

Inequalities have so many sources that this fact undermines the simple dichotomy between believing that some people are innately inferior and believing that discrimination or other social injustices account for economic and social differences. Yet people who are afraid of being considered racists, or believers that the lower classes are born inferior, often buy the notion that only the sins of “society” can explain why some people end up so much better off than others. . .

A majority of the men in prison came from fatherless families. In some cosmic sense, it may not be entirely their fault that they took the wrong road. But that doesn’t change the fact that it was the wrong road — or make it any less dangerous to turn them loose.

No doubt such concerns are behind efforts to “rehabilitate” prisoners or substitute “crime prevention” programs for incarceration. But magic words do not create magic realities. Innocent people have been killed by “rehabilitated” criminals who had been set free. And “prevention” programs do not prevent anything other than putting dangerous people behind bars.

The pretense of having solutions can be more dangerous than the problem. Yet there are whole armies of shrinks and social workers whose jobs depend on pretending that they have answers, even when no one has answers.

In terms of broader social policy, we need to make a sharp distinction between saying that some people are victims of a tragic fate and saying that they are victims of discrimination by employers, bias in the courts, or the sins of other individuals they encounter. Scapegoating other people is not likely to help — and it can distract attention from the real problems, which are too serious to misdiagnose.

When does spending become treason?

The gall of the educrats is stunning!

How can this be said with a straight face?

Team Obama Seeks $23 Billion for Teachers

Education Secretary Arne Duncan is asking lawmakers to put aside “politics and ideology” as they consider a request for $23 billion in “emergency” funding for public schools – a measure Republicans reject as a massive federal bailout for the teachers’ unions.

The Obama administration is supporting the bill, formally titled the Keep Our Educators Working Act and sponsored by Rep. George Miller (D-CA) and Sen. Tom Harkin (D-IA). In a letter to House Speaker Nancy Pelosi (D-CA) and Senate Majority Leader Harry Reid (D-NV) dated May 13, Duncan warned that if the bill is not enacted, “millions” of school children will be adversely affected and the ensuing damage will “undermine the groundbreaking reform efforts underway in states and districts all across the country.”

The self correcting "invisable hand" of capitlaism

Economies of scale become economies of inefficiency and sow the seeds of a companies demise.

Source: Carpe Diem, Mark Perry