The Washington Post reports on recent GAO congressional testimony about a basic security concern. Government agencies have a long way to go before they can assure taxpayers that the country’s secrets – as well as citizens’ personal information – are secure, according to recent government reports. In fact, the Government Accountability Office testified to Congress […]
Paul Berman in an op-ed in the NYT decribes anothe perspective on radical, modern Islamic extremists. I tried to show that radical Islamism is a modern philosophy, not just a heap of medieval prejudices. In its sundry versions, it draws on local and religious roots, just as it claims to do. But it also draws […]
When discussing real income growth one of the points often made by conservatives and libertarians is that the average data on real income is irrelevantly because it does not measure the same people over time. There is some validity to this point. For example, an individual captured in the snapshot of income data in 1970 […]
Have a good weekend all. If you are feeling angry about the economy, just do this cross word puzzle, grin and bear it. It might help.
Numbers work in Credit Crisis for Kindergartners. . AliceAssetsPhysical marbles: 4Marbles promised from Bob: 0Marbles promised from Sue: 2Total assets: 6 LiabilitiesMarbles owed to Bob: 7Marbles owed to Sue: 18Total liabilities: 25 Equity: -19 ——————————————————————————–BobAssetsPhysical marbles: 6Marbles promised from Alice: 7Marbles promised from Sue: 1Total assets: 14 LiabilitiesMarbles owed to Alice: 0Marbles owed to Sue: […]
Credit Crisis for Kindergarteners at Interfluidity. David Leonhardt notes that it’s pretty hard to explain what’s going on in the financial world these days (ht Felix). Here’s how I’d tell the tale to a child: Alice, Bob, and Sue have ten marbles between them. Whenever one kid wants another kid to take over a chore, […]
“It is long time past that one important piece of fantastical rubbish be finally sent on its way: this is the idea that neo-cons maintain some kind of fastidious ethic and theological democratization when it comes to who they’re willing to work with on killing people.” -rdan, March 20, 2008 The US plays the ‘game […]
Al Qaeda in Iran July 16, 2007 on Michael Totten’s site. “It is long past time that one important piece of fantastical rubbish be finally sent on its way: this is the idea that Islamists maintain some kind of fastidious ethnic and theological separatism when it comes to who they’re willing to work with on […]
The BBC had a note about food prices rising. And given that global wheat prices are so high, it is tempting for farmers to borrow more in their hope that their gamble pays off with a bumper harvest. “It really is back to the bank manager,” says George, explaining how that conversation will now go: […]
Trying to get beyond today’s headlines, and the moves and countermoves in today’s markets, is difficult. However the future beckons, and it’s looking a lot more “deflationary” than “inflationary” which is the exact reason the Fed is throwing around the power of the “lender of last resort.” Don’t want a Depression, do we? The great […]