Relevant and even prescient commentary on news, politics and the economy.

David Leonhardt needs to retire, having abdicated responsibility

by Ken Houghton I don’t believe David Leonhardt is an idiot, but that’s not based on the evidence at hand: There are really only two [questions]: What steps are most likely to solve the immediate crisis? And how can the long-term cost to taxpayers be minimized? Everything else — reducing executive pay on Wall Street, […]

Credit Default Swaps Again

by Robert Waldmann My post on “what the hell are credit default swaps for” got lots of comments and I learned a lot from the comment thread. I continue my effort at remedial education via blogging. First a very simple article by Martin HutchisonDoes this guy know what he is writing about ? Key quote […]

Chris Dodd knows how to play Chicken

by Ken Houghton I had the same reaction to his “we have to do something” comments on Sunday as Dr. Black. But we both, clearly, forgot the game that was being played. Monday is a day of work, and Dodd has clearly prepared well: Sec. 1. Short title; table of contents.Sec. 2. Authority to purchase […]

The Safest Senator

When calling Congresscritters tomorrow, especially for those in NY State, please feel free to remind Senator Schumer’s office that he and Barack Obama were the two people [in contested elections] who finished with the widest margin of victory in 20062004 [h/t to my Loyal Reader and Kohole in comments]—about a 50% margin in both cases. […]

While some liberals have a problem with Obama/Biden…

…how are people who, eight years ago, were proudly displaying “Sore/Loserman” bumper stickers going to react if/when McCain announces Loserman as his pick for VP?* UPDATE: Otoh, if the NYT and Reuters are correct, any claim that Obama is “too inexperienced to be President” just went out the window. *This is not necessarily going to […]

Polling Margins: The Myth of "Double-Digits"

There is a strange meme in the blogsphere—most recently made in comments here by Movie Guy—that Obama “should have a double-digit lead over McCain at this stage as has been the case with previous presidential primaries.” So I went searching for double-digit leads among two-person Presidential races in the past several elections. August 2004 (Bush […]

Andrew Samwick ponders The Ancestral Party

“On days like this, I wonder if I’m still a Republican.“ I gave up on the Party long ago; I gave up hope when a (very) distant relative wrote an op-ed for the NYT on why he would not support impeachment in 1998, and was attacked by the party for the next few years, before […]

Soc Sec XXXVII: Backwards Transfers: Biggs Responds

Soc Sec XXXVI: $17 Trillion Backward Transfer was a response to a comment by Jim Glass (scrivener.net) to a post by Andrew Biggs. Andrew responded with a new post attempting to rebut my argument. You can see the whole thing at Responding to Angry Bear: Where does $17 trillion come from including my response to […]

It’s All About the Governors

Roger Ailes notes that Tim Kaine (D-VA) is the frontrunner for Dem VP, while KathyG (whose post on Cass Sunstein is a must-read) notes that Tim Pawlenty (R-MN) appears likely to be McCain’s choice, likely ensuring one ovation at the Minneapolis convention. Hmm. The man who presides over his state being described as “the state […]