Archive for 2010

GREGG EASTERBROOK: It’s time for Obama to stop declaring new recovery plans.

Here’s what the endless succession of plans has in common – they haven’t worked. If something hasn’t worked, why does this cause us to think more of the same is required? The White House, Treasury Department and Congress should stop contemplating new plans.

Endless emphasis at high political levels on the need to “do something,” if only to appease the press, communicates the message that U.S. leadership is either panicky or has no idea what’s going on or both. When leaders act perpetually panicked, voters and business managers become nervous. Voters want new leaders and business managers put off decisions until they have a better idea what may happen next. The result, for the economy, is slower growth than the mainly good world situation — no resource shortages, low international tensions, rising education levels, liberalizing trade – would seem to suggest.

Read the whole thing.

TIM CAVANAUGH: Manliness Is Next to Joblessness. “Daily Markets’ Mark Perry declares the Great Mancession in session, with help from a mesmerizing time-lapse chart tracking employment growth by job type since 2008. Click here to watch the real-time shrinking of majority male sectors in opposition to the growth of two majority female sectors — education and health care. . . . In fact the most disturbing thing in the job sector statistics is that health care jobs have been growing at such an insatiable rate. Are people sicker than they used to be?”

THE MAN BOOKER PRIZE shortlist.

JAMES TARANTO ON THE CHANGING RACIAL ZEITGEIST: “It used to be that white conservatives were ever fearful of being cast as racist. Today Tucker feels it necessary to declare defensively that she isn’t prejudiced. Liberals, even black liberals like Tucker, no longer feel confident simply asserting their moral superiority when it comes to matters of race. This turning of the tables suggests that blacks and whites, as well as liberals and conservatives, are approaching a sort of equality. We won’t have gotten beyond race until both sides can make their arguments in good faith without such disclaimers. But this new parity is a big step in the right direction.”

WALTER RUSSELL MEAD: Buck Up, America!

I don’t want to minimize the challenges that face us, and especially the suffering of those among us who’ve lost jobs and seen the value of their homes and their savings erode. Indeed, in the months to come I will be posting about the challenges ahead of us and the costs of failure. If anything, we are still underestimating the risks, and the upheavals ahead are in many cases even bigger and scarier than is yet generally understood. Living up to the challenges of our time is going to take everything we have — and then some.

But even from that perspective, the current mood of pessimism and hand-wringing seems overdone.

Depends on what happens in November, I guess. . . .