I ask you: Can you not believe they’re all assholes:
[State House Rep. Tom Hackbarth, a] Minnesota Republican lawmaker who was handcuffed and questioned by police after loitering with a gun near a Planned Parenthood clinic has been stripped of his leadership roles in the Minnesota House. (Link.)
How stupid and disgusting is the sewage that id Fox News? This disgusting. If this doesn’t sicken you…:
Missed in the brouhaha over Sarah Palin’s verbal flub about our North Korean “allies,” and much more telling:
According to host Glenn Beck’s own transcript, Beck’s very next utterance was to proclaim that the “mystery” jet contrail recently seen in California (explained weeks ago (even by Fox News online) as almost certainly an optical illusion created by still air and a jet contrail from a known UPS delivery flight) was in fact a secret two-stage missile launch by the Chinese government to assert their power over America, “sending a signal that the world has changed.”
Beck then went on to state that the Chinese “control the world.”
Did Sarah Palin, would-be leader of the United States, disagree with any of this? Nope.
Doomed! Because economic policy is being based on partisan slogans instead of actual solutions for actual problems:
Many of the reactions to my writing, both in comments here and more generally, seem to be along one of the following lines:
(a) You say devaluation/inflation is good — but how did it work out in the 1970s/Zimbabwe? Hah!
(b) You say Germany is being evil by running a trade surplus — but you praise it in Iceland. Inconsistent!
What such comments betray is a mindset that relies on slogans, not models — or, more kindly, a failure to appreciate that economic policy requires that you pay attention to circumstances.
Thus, on the devaluation issue: devaluation is helpful when your problem is one of inadequate demand, so that an improvement in the cost-competitiveness of your industry can help you expand. It’s not good if you’re suffering from an overheating, inflation-prone economy. It depends on thenature of your unhappiness.
On the trade issue: the world’s problem is that it’s facing a deleveraging shock, in which highly indebted players are being forced to cut spending sharply; what we need is for those not deeply in debt to spend more to compensate. Iceland is in the first category, Germany in the second. (Link.)
Doomed! This horseshit is acceptable. In a normal world, it would be a scandal:
One caution about the results was sounded by Ms. Bair, who noted that a significant part of the banks’ profit improvement has come from reducing the amounts set aside as provisions for future loan losses. “At this point in the credit cycle, it is too early for institutions to be reducing reserves without strong evidence of sustainable, improving loan performance and reduced loss rates,” she said. (Link.)
Attention, Objectivists: Sometimes, the collectivist solution is the correct solution. It’s reality (yes, I know, your philosophy requires detachment from reality.)
A key to happiness: Focus on the act.
The greatest 60-odd seconds ever on the TV: