Brad DeLong expands his shrillness about the bond market and interest rates and concludes as follows The claim is that we must move to fiscal austerity right now because: invisible people whom nobody can see perceive that somebody perceives that somebody else perceives that the exhaustion of U.S. debt capacity might be about to happen. …
Central bankers around the world have become ostriches, hiding their heads in the sand. They continue to espouse “austerity,” as though that will cure the world’s economic ills. And yet, and yet . . . Ireland. Nearly two years ago, an economic collapse forced Ireland to cut public spending and raise taxes, the type of …
Courtesy Daily Kos, here’s George Will on ABC’s This Week explaining why Republicans won’t vote to extend unemployment benefits: TAPPER: George, why can’t they pass this unemployment extension? I don’t understand. The Republicans say spending cuts should pay for this, the Democrats know it’s emergency spending. It seems like this is something where there could …
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European officials took the G20’s commitment to cut deficits as a clear sign that the rest of the world had come around to Europe’s point of view. Santayana famously said “Those who cannot remember the past are condemned to repeat it.” Wikipedia: By the spring of 1937, production, profits, and wages had regained their 1929 …
NYT Live blog here. What is it with this team? “We play better coming from behind, so let’s give up a goal at the 5-minute mark.” Good grief. Update: Well, rats. It’s like they lose concentration at the start of the game and again at the beginning of extra periods. I’m sure that’s not true, …
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In light of this information, perhaps there should be stronger rules for judges and their potential conflicts of interest when court cases are assigned to them. . . . the U.S. District Court Judge who declared illegal the Obama administration?s blanket, 6-month moratorium on deepwater drilling in the Gulf of Mexico, had income in 2008 …
Hawai’i has 8 (eight!) candidates for the Lieutenant Governorship in November’s elections. Why? The job is full of nothingness. It has no authority except that which the Governor cedes to its holder. It’s essentially seen here as a way station on the road to running for Governor. That’s okay, but it means giving at least …
From the NYT live blog of the US – Algeria match, won by the US in extra time: My window is open here in Manhattan, and when the Americans scored, you could hear the roar in the street. I?ve never heard anything quite like that here, to be honest. I?m sure that?s what it was …
NPR has a story about a drive-in theater in Belleville, IL which is adding a third screen to the two it already has. Interested in opening one? An equipment supplier to the industry