Wednesday, November 03, 2010

Where Do Democrats Go Next? - NYTimes.com

Where Do Democrats Go Next? - NYTimes.com: "- Sent using Google Toolbar"

Funny how commonsense democrats come out of the woodwork once the Dems get stomped during the election. These ideas are good, but were not in evidence while the Dems controlled the entire federal government. Makes me wonder how much these ideas are actually understood within the party.

Wednesday, October 20, 2010

Tuesday, October 19, 2010

Editorial - France, the Unions and Fiscal Reality - NYTimes.com

This is from the NYT?!


"While Mr. Sarkozy has done a terrible job of selling his reform, the opposition Socialist Party was reckless in pretending for weeks that the retirement age could stay unchanged. The real battle has been with the unions, which have unleashed six weeks of marches and disruptive strikes in national transportation and fuel delivery.

Despite the widespread inconvenience and economic losses, public opinion has remained sympathetic to the unions. Mr. Sarkozy has built a reputation for being far more concerned with protecting the wealthy than ordinary people. Protest movements are also deeply ingrained in the French national tradition. Sentiment and tradition cannot be allowed to prevail over fiscal reality.

France’s Parliament should give final approval to the retirement age reform bill this week. Mr. Sarkozy should open talks with both union and opposition leaders on how to make the transition as fair to the vulnerable as possible. It is not too soon to appoint a broadly representative national commission to recommend the further changes that will be needed to keep France’s pension system solvent after these initial reforms go into effect."

Did I wake up in an alternate reality? Since when did common sense about reforming entitlements and not being a mindless mouthpiece for organized labor become something that their editorial page is known for? Were the NYT to actual espouse this belief domestically, a lot (certainly not all) of my animosity towards their reflexive, high-handed government-and-unions-before-all agenda would lessen.

Friday, September 24, 2010

Food for thought

Is this what's coming?

"Imagine a situation in which inflation has reappeared, and the Fed and other monetary authorities have been forced to tighten interest rates to fight inflation. The prices of government bonds will decline, to take account of new higher yields. Some countries and highly leveraged companies will get into difficulties, forcing a further write-down of their debt obligations. Commodities prices will decline, as the cost of holding inventory will have substantially increased and there will no longer be the chance to speculate at very low financing cost. And finally, global stock markets will decline sharply, both because corporate earnings will be adversely affected by the new higher financing costs (the rise in US corporate earnings in the past decade has itself been a bubble) and because rising bond yields will deflate mechanical valuation models, thereby reducing price-earnings ratios."



Education: what's its real value?

Why don't we get interesting information or ideas like this from the political class? They seem to be the least intellectually stimulated bunch among us -- and yet they claim to represent and lead us ever onward and upward.

The changing economics of college education

Right on the money

This guy gets it right very often.

Deleveraging

Thursday, September 23, 2010

Good read: Why Krugman is wrong

He's an easy target, given his "Stimulus now!" (think Seinfeld) approach to most economic problems.
Here's a good essay on why he's just not willing to allow that policy mistakes contributed to the financial mess.

Why Is Paul Krugman Blaming Foreigners for the Financial Crisis? - By Raghuram G. Rajan | Foreign Policy: "- Sent using Google Toolbar"

Wednesday, June 09, 2010

Feel the Rage - WSJ.com

Feel the Rage - WSJ.com

Speaking of the oil spill in the Gulf of Mexico, the WSJ notes

"We should add that so far, based on the available evidence, we don't know if this spill really was a regulatory failure. But no matter, the same liberals who made oil drilling one of the most regulated activities on Earth are now busy deploring the energy bureaucracy and rearranging it so that (they promise) this will never happen again. Sound at all like the financial panic and the new re-regulatory remedy?"

Exactly. I keep waiting for the "aha!" moment to hit the left, when they realize that even government power has limits (though they continue to refer to the event as solely a failure of a private business).

Ozymandias was written for everyone. All sources of power are limited and faulty. Having the belief in your moral superiority coupled with the ability to do almost anything within your own borders does not confer immunity to this condition.

So I'll keep waiting, but won't hold my breadth.

Tuesday, May 25, 2010

A view of our political divide

Op-Ed Columnist - Two Theories of Change - NYTimes.com

This view of the divide is not so much based on the party espousing the views, but by the nature of what is said.

It's very funny on this read of our political divisions to see conservatives advocating non-conservative (by Burkean standards) positions, and liberals advocating decidedly illiberal political sentiments.

Brooks is onto something here...