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

Staggering, Breathtaking, Overwhelming Incompetence

This story, originally just reported in the NYTimes but now being picked up by other news organizations, is big. And awfully, awfully bad, for all of us — but especially for our soldiers in Iraq. BAGHDAD, Iraq, Oct. 24 – The Iraqi interim government has warned the United States and international nuclear inspectors that nearly […]

The Ownership Society

According to conservative wheeler-dealer Grover Norquist, if Bush is re-elected, “the Democratic party is toast.” There are two prongs to his plan to keep the Republicans in power. The first is to “defund the left,” which includes relatively well-known proposals like tort reform to get rid of the trial lawyers and contracting out government jobs […]

Ohio: Are You Better Off Now Than You Were Four Years Ago?

While ABC reported on Tuesday that Kerry is ahead of Bush by 50-47, the race remains exceptionally tight. Real Clear Politics, which tracks polls state by state, shows that when the seven Ohio polls taken from 10/14-10/21 are averaged the result is an exact tie, 47.4% to 47.4%. Certainly, some portion of Ohio voters are […]

New Ad

The Bush campaign is releasing a new ad entitled “Wolves“, that explicitly plays the fear card. Its intent is to generate a mood of danger, and then claim that Kerry would not be a good protector of the US. Some are already thinking that it will be an effective and memorable ad, though I’m not […]

China Update

CBSMarketwatch.com has a couple of interesting stories for China-watchers. The first reports that it seems increasingly certainl that China will not revalue the yuan any time soon. The second surveys some of China’s recent economic statistics. Some highlights: Third-quarter gross domestic product grew 9.1 percent compared with the July-September period last year, slowing from the […]

Reason #2 to Vote for Kerry: The Iraq Decision

The biggest single decision that Bush has made during his presidency – to launch a US takeover of Iraq in order to protect the US from Iraq’s WMDs – revealed substantially poor judgment. UN inspections could have achieved exactly the same result as the invasion as far as WMDs are concerned, but with dramatically lower […]

A Reminder

Sometimes I get so focused on Bush’s terrible job-creation record that I forget that, while not as bad, GDP growth hasn’t been particularly impressive under Bush II. In fact, it’s generally not as good under Republicans as it is under Democrats. Reader and commenter Spencer (thanks!) was kind enough to construct the following graphic illustration:(*) […]

Leading Indicators

Normally I don’t pay too much attention to the Conference Board’s index of leading economic indicators. I’m not at all convinced that they have good predictive power; at best I think they reflect the overall trend in the economy at a particular point in time. But this story caught my attention: Economic indicator sinks for […]

The Guardian’s Experiment

In case you’ve missed it, last week The Guardian started “Operation Clark County.” The idea was that they would facilitate letter-writing from British citizens concerned about the US election to undecided voters in a semi-rural county in central Ohio. How has it gone? The Daily Telegraph (a right-of-center British newspaper) says not so well: British […]

Reason #1 to Vote for Kerry: Economic Management

As I’ve said many times, I think that Bush is not responsible for the weakness of the economy in 2001. A recession was bound to happen at the end of the long uninterrupted expansion of the 1990s – all expansions end with a recession, after all. And as Brad DeLong put it in a WSJ […]