Hundreds of years ago, which most will concede was a less sophisticated time, author Jonathan Swift stirred the masses with an essay entitled “A Modest Proposal.”
Swift even then had the good sense to publish this tome anonymously, unlike the current-day twits who rush to prove their idiocy with offerings on social media, then duck the blowback by attempting (too late) to delete the foolish posts.
Swift specifically wrote that starving Irish might sell their kids to rich English who could eat them, thereby giving money to the Irish and lessening their financial burden.
Swift’s intent was satire, making a ridiculous assertion to illustrate a problem, that being starving Irish.
Satire continues to be used widely today with purveyors such as The Onion enjoying both acclaim from those who get it, and ridicule from those who do not recognize satire when they read it.
In defense of the latter group, it is getting harder and harder to separate actual news from tales of ridiculous exaggeration used to make a point.
Consider the revelation today that Penn State University, apparently not satisfied to keep donating millions to victims of the school’s sexual abuse scandal, will gift head football coach James Franklin with a 10-year contract extension worth $7 million or so per year.
Franklin critics, and they are many, can be forgiven for thinking this is all just a big joke. Franklin has won exactly none of the past nine games in which his teams have played Top 10 opposition.
The combined Penn State record of last year and this is 11-9. As hot properties go, Franklin would seem to be a bowl of lukewarm mush.
But Penn State feared someone might steal this prize coach whose teams can’t win big games, or barely win any games at all as it turns out.
For the sake of comparison, Alabama coach Nick Saban, he of seven national college football championships won, makes about $8.7 million a year.
Call me crazy, but I’m thinking Franklin might be worth $2 million a year. Or maybe Saban should be getting $14 million a year based on Franklin numbers.
Even as Penn State was donating to Franklin, Clueless Joe Biden stumbled to the microphone to bumble through his teleprompter cues and eventually announce a plan to release 50 million barrels from the strategic petroleum reserve.
That release is presuming other countries can be convinced to lubricate the oil market with similar amounts.
In a comical moment afterward, a reporter asked Clueless Joe’s energy secretary what the daily U.S. oil consumption might be. She didn’t have the numbers at hand. Why she didn’t know offhand, considering her title, is a legitimate question.
Well, it’s easily found on the internet that the usage is about 18 million barrels a day, meaning that 50-million barrel release would make up for three whole days of oil consumption, give or take.
If you are thinking that will meaningfully lower the price of oil, you probably believe Franklin deserves $7 million a year.
And finally, likely you have noticed that Biden policies of hamstringing domestic oil production as a way to kiss up to climate change types, then begging OPEC to pump more oil to make up for it, has resulted in gasoline prices rising more than $1 a gallon domestically during the Biden reign of terror.
Despite the ridiculous announcement today of the possible SPR release, U.S. benchmark West Texas Intermediate closed up at $78.50 a barrel, as did international benchmark Brent, which was up to $82.31 a barrel.
Warning, this next item is not satire, but brutal fact: Investment guru Marko Kolanovic was quick to rush out today with analysis that those skyrocketing oil prices actually are cheap on a historical basis.
According to Kolanovic’s calculus, prices could rise to $300 to $500 a barrel in the not-too-distant future and merely be in line with traditional norms.
I know, I know, that sounds ridiculous – almost as ridiculous as Franklin getting a 10-year contract extension at $7 million a year.