We're half a month into 2012. Novak Djokovic's streak is long gone and most of the top names are at the Australian Open. Even though Australia is not presently as big a tennis powerhouse as say, Russia, tradition has the AO as the first major of the year. While planning the first Grand Slam—winning all four majors in one year—Don Budge was advised to skip the Australian Championships. In 1938, Australia took several weeks to reach by steamship, and his friends warned that he was such an attraction that the Aussies would play him to death in preliminary tournaments. But Budge schemed to win all four majors before turning pro, and had to start down under—as did Maureen Connolly, Rod Laver (twice), Margaret Smith Court and Steffi Graf.

It is a wonderful coincidence that Muhammad Ali's 70th birthday comes the day after Martin Luther King Jr. Day. While the two essentially ran in different circles, as it were, both were amazing parts of a time that saw America change dramatically for the better.

In the beginning, racial equality was not a progressive ideal. Early progressives rarely paid much attention to persecuted minorities such as blacks, Jews, American Indians, or Irish and Chinese immigrants. They focused instead on defending an oppressed majority--farmers and workers--from a predatory minority--industry titans and bankers.

When progressives in the early 20th century did address minority rights, their positions tended to reflect party affiliation rather than progressive ideology. In those days, race politics split at the party line with Republicans supporting racial equality and Democrats opposing. Class politics, on the other hand, produced internal divisions within each party.

As a result, Republican progressives tended to be concerned about racial oppression, while Democratic progressives ignored or even condoned it. When the moderately progressive Republican president Teddy Roosevelt shocked the nation by inviting Booker T. Washington to dine at the White House, William Jennings Bryan, a radically progressive Democrat, publicly denounced him.

Today, the brave and serious campaign of John Huntsmann will end. And we are all the lesser for it.

Zandar, at Balloon Juice, points out that Missouri's new Creationism-in-the-schools bill, HB 1227, applies not only to K-12 schools but to the state's public colleges and universities as well. According to the bill,

In August, Standard & Poor's downgraded U.S. Treasury debt, judging our political system broken enough to create some miniscule risk of default, whereas their previous rating judged our political system a smidgen competent enough to likely avoid a miniscule risk of default.

Bondholders knew that S&P was all wet and bid up the prices of Treasuries so long as stocks looked risky.  That's what happens when you're a sovereign that controls your own currency and controls a currency that the world uses as it's reserve.

Yes, it's FRIDAY FOLLIES!  I know, it's been a while, and I keep getting requests to bring it back so here it is.  (Two requests so far, one of them a relative, but still. . .)  I have no explanation for why I've neglected it for so long.  I could say I just wasn't feeling it but that's so unprofessional.

The Daily asked me to debate an able writer from the American Enterprise Institute about whether or not Mitt Romney's years at Bain Capital are worthy of our praise of criticism.  I think I was pretty even-handed here, as I really don't have it out for the private equity industry, or the finance industry in general.  I think we should have a healthy, vibrant way to help allocate resources towards people's business ventures.

When Junior Dos Santos creamed Cain Velasquez to win the UFC Heavyweight belt, it codified something everyone knew - from top (Dos Santos) to bottom (Jose Aldo), Brazilians are a dominant force in the UFC and MMA.

I’m looking for reader input on whether and when I, William K. Wolfrum, should actually do work, or whether I should just look at porn all day.

One example mentioned recently by a reader: “Mr. Wolfrum, there have already been two GOP Primaries and several GOP Debates. You have written nary a word about these events. I wish you would stop spending your days looking at porn and instead try working for a change.”

So, Mitt Romney won the New Hampshire primary last night with 39% of the vote. The media is counting it as a big win, which is fair enough. 39% is a perfectly good win in New Hampshire, and very much in line with what many past winners have received. But there are two things that should worry the Mittster.

1) Voter turnout was basically flat from 2008, even though there wasn't a contested Democratic primary this time.

This week in The Daily, I wrote about the Federal Reserve's white paper urging Congress to act to make it easier to convert foreclosed homes into rental properties, in order to support the real estate markets.  I was happy to see the Fed come to this conclusion, four years too late.

I stumbled across a site called SOPAOpera that's keeping track of who is and isn't supporting the Stop Online Piracy Act, or SOPA, and the PROTECT-IP Act, SOPA's counterpart in the Senate.  The site also tracks how much money congresscritters have received from the entertainment and tech industries respectively.  SOPAOpera lists the data source as OpenSecrets, which indexes FEC data.

Even though Detroit is hurting, the North American International Auto Show (NAIAS) is still a big deal in the industry. The historically Big Three did fairly well in 2011, particularly Chrysler, which increased sales some 26% more than 2010. I hated Chrysler's product line at last year's Baltimore show, but their Imported From Detroit campaign included several redesigned models. I read one article that attributed Chrysler's comeback to a patriotic fervor stimulated by the 2011 Superbowl advertisement featuring Eminem. That would be ironic, because since June, Fiat owns about 58% of Chrysler Group, LLC.