Archive for 2008

DUDE, HERE’S YOUR RECESSION? “The U.S. has not endured a deep and prolonged recession in more than a quarter century — enough time for many Americans to forget what one feels like. But unlike the last two relatively short recessions, this one could be much longer and more severe, potentially bringing with it anxiety and job losses not seen in many years.”

Of course, the press has been telling us we were in a recession for over a year, which it could do in part because so few people remembered what a real, as opposed to a notional, recession was like. Maybe that’ll change . . . .

MAHONEY UPDATE: “Embattled Democratic Rep. Tim Mahoney may not seek reelection in Florida next month after ABC News broke a story earlier this week that the congressman had paid a former aide to keep quiet about their alleged affair, according to a Democratic leadership aide with ties to his campaign.” Can somebody get a reaction from Mark Foley?

Related thoughts here.

YOU WILL ACCEPT OUR BAILOUT! Smaller Banks Resist Federal Cash Infusions. “Community banking executives around the country responded with anger yesterday to the Bush administration’s strategy of investing $250 billion in financial firms, saying they don’t need the money, resent the intrusion and feel it’s unfair to rescue companies from their own mistakes.”

Can we get some of them to run for Congress? . . .

I’LL BE ON PJTV in a little while, talking with Megan McArdle and Andy Roth about the bailout, the state of the economy, and more.

IS SARAH PALIN RONALD REAGAN? Some people are asking, but I’d have to say the answer is “no.” Though Reagan was portrayed as an amiable dunce, he in fact spent many years working out his ideas before running for President. Palin hasn’t done that yet. She has considerable natural talent as a politician, but she’s no Ronald Reagan. Then again, neither was Ronald Reagan, at 44.

At any rate, the Republicans shouldn’t be looking so hard for another Reagan. Reagan came along as a sort of savior, but the party needed saving because it had become too comfortable, too afraid of the press, and too anxious to go along and get along. A strong farm team — producing lots of Palins, if not Reagans — would do them more good than a single savior.

Meanwhile, is Obama the Democrats’ Reagan? That, perhaps, is a topic for a different post.

UPDATE: Reader Mark Zoeller emails: “Your proximate posts today re: the Palin debate among conservative pundits and the cover-up of the Edwards story jogged this random thought. Why do we hear no comparisons of the relative merits of Gov. Palin as a VP candidate today, and the Dem’s attempt to foist John Edwards on us as VP In ’04?” The press covered for Edwards; they’re gunning for Palin.

ANOTHER UPDATE: Reader S.J. Himel writes: “Look, I’ve accepted the fact for years that you’re a closet Dem, pretending to be a libertarian (though lacking any perceptible enthusiasm or credentials for the latter viewpoint), but you know what? That Obama/Reagan comparison was actually so stunningly offensive it’s forced me to rethink every opinion I’ve held about you. And in no way for the better.”

You know, I’ve long since gotten used to the idea that everything I blog will be misunderstood by somebody, but still . . .

MORE: Another reader emails:

So why do you suppose that fellow was so offended by your tongue -in-cheek post wondering if Obama can be viewed as the dem’s Reagan? Is he a dem horrified that anyone could compare Obama to that trodglydite Reagan? Or a repub aghast that anyone could compare the great Reagan to that one? Then again he did mention libertarian in such a way you’d think maybe he leans that way. Was Reagan a libertarian hero? Naw, I suppose he must be a dem.

I like his line about you being a closet dem. I decided a while back you’re like me,..you really, really want to be a dem, you have in fact been a dem and even associated with dems in the past and present, but a lot of the time you say something you think is commonsensical and obvious and even somewhat progressive and you get denounced as as some right-wing collaborator. Tough luck for a guy who just wants to blog about guns, gadgets and space exploration.

Yeah, but I soldier on.

FRED SMITH ON liberals against libertarians. Yeah, and conservatives often aren’t that crazy about us, either.

Plus this: “My understanding is that Stalin, Hitler, Pol Pot and Mao Tse Tung were not motivated by profits.”

MAHONEY UPDATE: FBI Reported to Begin Probe of Florida Congressman. “FBI Reported to Begin Probe of Florida Congressman.” So why isn’t Mark Foley’s successor’s scandal getting as much attention as Mark Foley did . . .?

DRUDGE HEADLINES: OBAMA CAMPAIGN ISSUES TALKING POINTS TO MEDIA AHEAD OF DEBATE:

The Obama campaign issued a set of debate ‘talking points’ to media on Wednesday morning, the DRUDGE REPORT can reveal.

Press Secretary Sean Smith issued the directive in an email from Pennsylvania, 12 hours before the debate.

The memo oddly mirrors much of the main press analysis and theme of the current campaign.

Or vice versa, I guess . . . .

AMERICA CHANGES: “Forty years ago, when the data series analyzed here began, just three in ten college freshmen had fathers who had a college education. Now, a majority do.”

LIVING UP TO THE HYPE: Taking a drive in the new Corvette ZR1.

THE TRUTH ABOUT DEREGULATION: “The least regulated of our financial institutions, hedge funds, have fared the best in the current crisis.” Plus, from Nick Gillespie at Reason:

Never mind that the financial industry is one of the very most regulated sectors of the economy here and abroad. Never mind that the two mega-corporations at the very center of the recent market meltdown, Fannie Mae and Freddie Mac, were massively regulated government-sponsored enterprises that were doing the bidding of the politicians to whom they gave cash so lavishly. Indeed, never mind that the Times story above features a chart showing that George W. Bush increased regulatory spending far more than any president since Richard Nixon (by some measures, Bush even routs Nixon). Forget about deregulatory successes in airlines, interstate trucking, and telecom. The culprit is now and will always be deregulation. And the answer will always be more regulation.

Certainly if the question is, “how do we give the government more power?”

WHEN CONGRESS’S RATINGS LOOK LIKE THE DOW JONES NUMBERS: “Three-quarters disapprove, and only 12% approve. Is that the worst in, like, ever?”

MCCAIN CAMPAIGN COMPLAINING ABOUT DMCA Takedowns on YouTube. I’ve noticed that stuff that hurts the Dems seems to get taken down awfully fast. But it’s also amusing to see McCain suddenly notice the dangers of politically-throttled speech . . .

DID SOMALI PIRATES save Israel?