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

Froomkin Nails It

Dan Froomkin comes up with a beauty in his column today: In a soaring, eloquent, upbeat speech from the marble podium at the United Nations, President Bush yesterday put forth the purest distillation yet of his foreign policy views. And depending on your own world view, I’m betting you either loved it or hated it. […]

Is It Really Time to Raise Interest Rates?

Yesterday Greenspan raised short-term interest rates by 0.25%. He essentially gave a two-part justification for this move. First, the Fed announcement said that the economy is still doing pretty well: “Output growth appears to have regained some traction, and labor market conditions have improved modestly.” Second, the announcement argued that even with this increase in […]

Lucrative Degrees

The National Association of Colleges and Employers released its report on starting salaries, by major, of new college graduates last week. Who’s doing well? Many business disciplines saw increases in starting salaries. For example, business administration graduates received a 6.2 percent increase, for an average starting salary of $38,254. Management information systems graduates’ average starting […]

Seeing the Forest

So it turns out that the CBS memos are almost surely fake (yes, I’ve been away from the news for a while.) The Boston Globe, which originally reported the “Missing Year” story in May of 2000. Today, the Globe puts the fake memo story in context: The Globe’s Spotlight Team has painstakingly documented the preferential […]

The Fed Moves

The Fed has just announced their decision to raise short-term interest rates by 0.25%. From their statement: The Committee believes that, even after this action, the stance of monetary policy remains accommodative and, coupled with robust underlying growth in productivity, is providing ongoing support to economic activity. After moderating earlier this year partly in response […]

The Parties’ Flip-flops on Deficit Spending

Joseph Stiglitz is editor of The Economists’ Voice and has this article in its inaugural edition. He notes that long-term fiscal stimulus crowds out investment – a theme he also dubs Rubinomics. He further notes that the Bush tax cuts have provided little short-term stimulus for reasons similar to what Kash noted. Stiglitz also noted […]

Barro v. Reich on the U.S. economy: a disappointing debate

Gwen Ifill hosts a discussion between Robert Barro and Robert Reich, which began with a discussion of real GDP and the labor market. Barro opens with: The economy has been doing quite well of late, particularly the GDP growth has been over 4 percent since early in 2003. Investments grown strongly, productivity has grown strongly. […]

The three GOP positions on Iraq

We heard three very different positions on Iraq from the Republicans this weekend. Let me start with the grown-up GOP position expressed by Sen. Lindsey Graham on Late Edition SEN. LINDSEY GRAHAM (R), SOUTH CAROLINA: Well, I’ve been to Iraq twice, and the one thing I constantly hear is that we have enough troops. But […]

Well Put

John Kerry today: “[T]oday, President Bush tells us that he would do everything all over again, the same way. How can he possibly be serious?” “Is he really saying to Americans that if we had known there were no imminent threat, no weapons of mass destruction, no ties to al-Qaida, the United States should have […]

Al-Qaeda’s Best Recruiting Sergeant

Bloggers don’t seem to be pay much attention to Hastert’s claim that Al Qaeda favors John Kerry even if CNN pays a lot of attention to this pathetic remark all too typical of the Speaker. Of more interest might be this report from Reuters. Ivor Roberts, the UK ambassador to Italy, apparently said “If anyone […]