On Monday young Chester Culver, Dempublican candidate for governor of Iowa, opened his yap and stuck his foot in his mouth up to his ankle. He proposes utilizing more of the state's employee pension program, IPERS, money in venture capital funds for "high-tech" companies based in the state. IPERS already invests a small portion of its total $20.5 billion investment portfolio in venture capital funds. Venture capital funds are the riskiest form of mutual funds but that doesn't keep large pension funds from investing in them, there can be great rewards.
So then Republicrat Jim Nussle shot back that Chester wants to gamble with state employees' pension fund and he won't do such a thing. Well that right there's bullshit, he's a Republicrat. If he wins this fall I'm sure he'll be whistling a different tune.
Hell, they both are, using economist Dean Baker's term, nanny state conservatives. And they're both pushing biofuels and they both kiss the ass of anyone with an MBA hanging out it covered in corn kernels. Ever being the Cassandra, however, I see biofuels, especially corn-based ethanol, as the next investment bubble on the horizon. Corn-based ethanol, so far, hasn't delivered on it's promises and its future is starting to look shaky.
This hasn't stopped the private financing of new construction for more corn-based ethanol plants in this state. But I sure young Chester's just salivating at the thought of unleashing IPER's cash for even more corn-base ethanol and biodiesel plants. Given half the chance Nussle'd do the same.
They both stink. Tweedle-Chet and Tweedle-Nuss are the two weakest gubnatorial candidates I can remember since I became eligible to vote in 1972.