The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Obamanomics: Failure Is The New Success

by Smitty Heritage has a piece entitled: ‘Why Obamanomics Has Failed – Annotated’. Questions beginning with ‘Why’ being quite a Smitty-magnet, let’s see what these esteemed think-tankers are swimming in. They pick up with Meltzer at the WSJ: ‘Why Obamanomics Has Failed’. RTWT, but I’ll summarize here. . . .they want new stimulus measures—which is […]

Obamanomics: Still Not Working

As of 12:40 p.m. today, the Dow Jones Industrial Average is off more than 230 points, down below 9,900. This decline — about 2%, and roughly twice what the futures market had signaled overnight — is probably due to a sharp drop in consumer confidence. This is being interpreted as a strong indicator of a double-dip recession. Timely […]

Recommended Reading From Top Hayekian Public Intellectuals

Since being named a “Top Hayekian Public Intellectual” in April 2009 — we have a secret handshake and meet in a treehouse behind Thomas Sowell’s garage — I’ve striven to uphold the honor of the Nobel Prize-winning Austrian School economist. A devotion to “spontaneous order” means that admission to our ranks is open to all, […]

Krugman: If We Halt Policy That Causes Pain, The Situation Will Really Hurt

by Smitty (via Calculated Risk) I realize that Paul Krugman is to the Ivory Tower what my Congresstool is to the Administration: an unattractive cheerleader sans pom-poms. But Krugman appears either to speak another language that merely looks like English, or be completely toys in the attic. But future historians will tell us that this […]

The G-String 20

by Smitty While exotic dancers are feeling pinched financially from the economic downturn in Louisiana, more public dancers gather for another ecdysiaster in Toronto. Via Insty, Mead at AEI falls short of respect for the undertaking: These summit meetings of world leaders date back for a generation; they have always gotten lots of coverage in […]

Did Somebody Say ‘Double Dip’?

Oh, yes they did! Could a double dip in the housing market be on the way? That’s what influential banking analyst Meredith Whitney told CNBC’s Squawk Box yesterday. Market analyst Barry Ritholtz explains: The assumption has been that if we can modify mortgages or voluntarily refrain from foreclosures, the [residential real estate] market will stabilize. […]

Iron My Shirt, Megan McArdle!

She’s a newlywed, but I doubt her husband (Reason magazine’s Peter Suderman) would dare say that to her. Nevertheless, the World’s Tallest Female Blogger seems to be taking a wifely interest in household appliances: Yesterday, The Washington Post told the sad story of the last ironing board factory in the United States. To protect the jobs of […]

‘Unexpectedly’ — Again!

Purchases of U.S. Existing Homes Unexpectedly Fall Sales of U.S. previously owned homes unexpectedly fell in May, a sign demand was probably pulled into prior months before a June tax-credit deadline. . . . The decline raises the risk the retrenchment following the expiration of the tax credit will be deeper than anticipated. . . […]

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