The Other McCain

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

Obamanomics: No Jobs, No Recovery

Here’s a handy little chart showing the pattern of job losses in recessions since World War II: That big red line is the current recession, and Scott Stoddard of Investor’s Business Daily explains: Job recoveries have been increasingly sluggish over the past several recessions and the current downturn looks to be the longest since at […]

Flight Made (Grand) Junction Re-direct Adroitly

by Smitty Catching up on the usual chores. I’m in Idaho, visiting family, having been delayed due to Heap Big Winds around Denver. United Airlines did a fine job of managing safety and timeliness. We can all gripe about being herded about, but being alive to do the griping is the main feature.

Obamanomics: Still Not Working

The Dow Jones Industrial Average lost another 115 points Monday, after losing 324 points on Friday, for a two-day loss of 439 points (4.3%) — and a cumulative loss of 1,389 points (12.4%) since April 26. In short, if your 401(k) is mainly in stocks, you’ve lost about 1/8th of that money in about six weeks. The […]

Black Monday?

Probably not. It would be foolish to think that Wall Street would repeat Friday’s performance when there were more bears than a birthday party for Andrew Sullivan and the Dow fell 324 points. The more likely scenario today would be for the Dow to regain a hundred or so points. On the other hand, Asian […]

Black Friday?

OK, it’s not a complete meltdown, but the release of a jobs report today showing a weak employment picture — temporary Census jobs making up most of the gain — evidently punched a hole in investor hopes of recovery. As of 3:30 p.m., the Dow Jones Industrial Average was below 10,000, more than 300 points […]

Second Half of the ‘W’?

The Dow Jones Industrial Average closed down 113 points Friday, having lost 1,181 points (10%) since its recent peak of 11,205 on April 26, and 4,069 points (29%) below its historic high of 14,093 on Oct. 12, 2007. For the past two weeks, the Dow has been struggling to stay above the 10,000 level. To close below that […]

Matthew Yglesias Attempts — And Rather Sadly Fails — to Understand Economics

It’s kind of touching, really. Like watching an infant attempting to walk and falling down: We right now have the capacity to produce more—much more—than has ever been produced before in the history of the planet. There are dozens of supply-side policies that could be improved in every country on earth, but that’s not a […]

Everybody Should Buy Gold, Even If Glenn Beck Gets Paid to Tell You So

Look, the Dow Jones Industrial Average lost more than 300 points today, and the DJIA is down more than 1,130 points since closing at 11,205 on April 26. The Greek debt crisis is pulling down the European economy, more than 700 U.S. banks are now on the FDIC “troubled” list, and concern about a “double-dip” recession is becoming mainstream. Now, let’s look […]

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