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Friday, August 02, 2002
Posted
8/2/2002 11:29:58 PM
by Edward Driscoll
Posted
8/2/2002 01:28:51 PM
by Edward Driscoll
Thursday, August 01, 2002
Posted
8/1/2002 11:50:50 PM
by Edward Driscoll
The problem is that Saddam is a monster, and he is set to be followed by a son who is even worse. He has weapons of mass destruction (WMDs), and despite certain claims to the contrary, we cannot be sure that he will not give, or otherwise provide, them to groups who will smuggle them into the US. I do not want 500 kilos of VX being released in downtown Atlanta. I do not want Pittsburgh getting nuked. I do not want thousands of people in Seattle dying from anthrax. And I don't want New York to bleed anymore. Nothing in the future is certain, but in my opinion the chance of this happening is too high if the Baath regime in Baghdad is permitted to continue to rule. So we'll have to go take it out, and put a better (for us) regime in place. We did that in Japan, too, and it's a damned good thing both for us and for the Japanese. Yes, we meddle in the world. It's part of the role one takes on by being rich and strong. And it does make us hated.Den Beste ends by saying "So what gives us the right to go attack Iraq? The right of survival, the fact that if we don't go to Iraq to fight, there's an unacceptably high chance that Iraq's WMDs might come to us.", paraphrasing, perhaps unconsciously, Trotsky's famous phrase, "You may not be interested in war, but war is interested in you." Right now, we should be very, very interested in finishing off Iraq as a threat to the world.
Posted
8/1/2002 10:35:33 PM
by Edward Driscoll
Posted
8/1/2002 10:31:20 PM
by Edward Driscoll
Posted
8/1/2002 08:33:29 PM
by Edward Driscoll
Posted
8/1/2002 06:23:01 PM
by Edward Driscoll
Posted
8/1/2002 05:49:28 PM
by Edward Driscoll
Posted
8/1/2002 05:11:41 PM
by Edward Driscoll
Posted
8/1/2002 04:45:30 PM
by Edward Driscoll
Posted
8/1/2002 03:35:58 PM
by Edward Driscoll
Posted
8/1/2002 01:18:14 PM
by Edward Driscoll
In the 1996 presidential campaign, Dick Morris and Mark Penn, Clinton's two closest advisers, devised a mechanism for identifying voters likely to back Clinton and voters likely to back his Republican opponent, Bob Dole. Morris and Penn asked five questions, each one of which, according to the pollsters, directly or indirectly reflected a voter's key cultural and moral values and thus his or her likely voting behavior: (1) Do you believe homosexuality is morally wrong? (2) Do you personally look at pornography? (3) Do you believe sex before marriage is morally wrong? (4) Would you look down on someone who had an affair while they were married? (5) Is religion very important in your life? Voters who were pro-Clinton replied "no" to questions one, three, four and five and "yes" to question two, with the converse true for Dole voters. The way in which voters answered these questions was more predictive of their presidential vote, Morris and Penn found, than every other demographic measure except race and party identification.Talk about cheapening the office: setting aside the moral implications of Morris and Penn's questions, just think about what they do to the American voter: turn him into a mass of hormones, whose sexual proclivities determine how he'll vote for the most important elected official in the world. Try to picture FDR, Truman or even JFK approving a poll like that.
Posted
8/1/2002 12:43:55 PM
by Edward Driscoll
Posted
8/1/2002 12:26:21 PM
by Edward Driscoll
Posted
8/1/2002 12:17:38 PM
by Edward Driscoll
Posted
8/1/2002 11:25:04 AM
by Edward Driscoll
Posted
8/1/2002 12:25:40 AM
by Edward Driscoll
Posted
8/1/2002 12:19:55 AM
by Edward Driscoll
Posted
8/1/2002 12:10:20 AM
by Edward Driscoll
Wednesday, July 31, 2002
Posted
7/31/2002 11:18:29 PM
by Edward Driscoll
For students of modern finance, the real mystery is how to reconcile these two facts: Over the long term, stocks return much more than bonds, but stocks are no more risky than bonds. This paradox is called the "equity premium puzzle"-- the premium being the extra return that stocks provide over benchmark bonds. For decades, economists were at a loss to explain the puzzle. A 1997 paper by Mr. Siegel and Richard Thaler of the University of Chicago concluded that the answer was "myopic risk aversion." In other words, investors are so frightened of short-term losses in the stock market that they can't see beyond their noses. We argued, to the contrary, that investors were finally solving the equity premium puzzle. Starting about 20 years ago, irrational risk aversion to stocks began to decline, thanks mainly to the spread of new research, better financial education, the rise of defined-contribution retirement plans, and increased world stability.
Posted
7/31/2002 03:30:24 PM
by Edward Driscoll
Posted
7/31/2002 03:25:59 PM
by Edward Driscoll
Posted
7/31/2002 12:51:19 PM
by Edward Driscoll
Posted
7/31/2002 11:49:01 AM
by Edward Driscoll
Posted
7/31/2002 11:45:54 AM
by Edward Driscoll
Firefighters who rushed to the scene told Webb that good intentions often turn lovely homes into blazing death zones. "They said they see this kind of thing with electric cars all the time," she says. "Electric cars and golf carts are always overloading their chargers and burning up, but no one knows about it." Among the hidden dangers, Webb says, were four hidden high-powered batteries. "There are four extra batteries that aren't shown in the [owner's manual] diagram. They need to be serviced but you can't service them if you don't even know that they're there." Luckily, Webb was in New York shopping for baby furniture when the blaze erupted, but her new husband, Wall Streeter turned amateur archaeologist George Robb, was asleep in bed. He barely escaped with his life. "By the time the fire department showed up, they didn't even go inside to look for survivors because they assumed that anyone left inside was long dead. They said George got out with 30 seconds to spare." Tuesday, July 30, 2002
Posted
7/30/2002 11:01:19 PM
by Edward Driscoll
Posted
7/30/2002 10:34:40 PM
by Edward Driscoll
Posted
7/30/2002 10:12:06 PM
by Edward Driscoll
Posted
7/30/2002 09:39:17 PM
by Edward Driscoll
Perhaps the hair should have been afforded independent counsel and mounted its own defense. The thought of it shorn, constrained or incarcerated is hardly bearable. Traficant may be more concerned with locks of another sort, as he plays his final act on the public stage, but the rest of us should behold it while we can. What is hair today will be gone tomorrow.
Posted
7/30/2002 03:55:36 PM
by Edward Driscoll
Posted
7/30/2002 03:45:36 PM
by Edward Driscoll
Posted
7/30/2002 01:05:49 PM
by Edward Driscoll
Posted
7/30/2002 08:55:46 AM
by Edward Driscoll
Posted
7/30/2002 07:58:43 AM
by Edward Driscoll
Posted
7/30/2002 07:51:27 AM
by Edward Driscoll
Posted
7/30/2002 07:44:49 AM
by Edward Driscoll
Monday, July 29, 2002
Posted
7/29/2002 10:00:17 PM
by Edward Driscoll
Posted
7/29/2002 09:38:46 PM
by Edward Driscoll
Posted
7/29/2002 08:38:27 PM
by Edward Driscoll
Posted
7/29/2002 07:49:34 PM
by Edward Driscoll
[W]hen these criticisms are probed, a startling revelation appears: Far from being radicals, Europeans are, in fact, in a fundamental sense more reactionary than Americans. And here things get interesting. In conversations, the Europeans very soon begin to voice all the old right-wing complaints about America that explain why they see our country as so insular, crass, and dangerous: We have no respect for tradition; our movies and television are uncouth; our volatile citizenry is increasingly ignorant, multicultural, and lawless, and so blinkered to the concerns of others. Welcome to radical democratic culture.Read the rest of the article--as is usual with Hanson, it's very, very good.
Posted
7/29/2002 07:30:27 PM
by Edward Driscoll
Posted
7/29/2002 07:19:49 PM
by Edward Driscoll
Posted
7/29/2002 05:44:16 PM
by Edward Driscoll
The computer has become a new weapon of mass destruction to overrule our minds and our common sense. Did I tell you that I am terrified by computers, e-mail and the Internet? The only things worse are automated telephones that tell you to press numbers 1 through 99 and then inform you that the item you want is no longer in stock. Civilization is crumbling before these awful gadgets--although my grandsons are threatening to show me that they are not any more dangerous than the atomic bomb or AIDS. I'll probably yield to the computer age eventually despite my strong instincts against it.Well let's see, computers first started showing up right after World War II. The Altair, Apple II and TRS-80, those first home PCs, arrived in the mid-1970s. So you've had well over 25 years to "yield to the computer age", and haven't yet? Keep 'em flying, George!
Posted
7/29/2002 05:29:09 PM
by Edward Driscoll
Posted
7/29/2002 05:26:06 PM
by Edward Driscoll
Posted
7/29/2002 04:47:34 PM
by Edward Driscoll
Posted
7/29/2002 04:22:54 PM
by Edward Driscoll
Posted
7/29/2002 02:32:58 PM
by Edward Driscoll
"In just eighteen months, this administration has unraveled the fiscal discipline it took us eight years to build," said Connecticut Sen. Joe Lieberman, who spoke to the Democratic Leadership Council's annual policy meeting along with Massachusetts Sen. John Kerry and Senate Majority Leader Tom Daschle.Let's parse this out, shall we?The economy of the 1990s would have been in the dumps if (a) Hillary-Care had come to pass. Fortunately, it didn't, but Americans were royally p.o.'ed by it, resulting in them electing (b) a Republican-held House and Senate in 1994, which attempted to balance the budget and blocked the most egregious of wealth-destroying Democrat ideas. (c) The Nasdaq began to tank during the Microsoft Lawsuit, in mid-2000. Who was President then? (d) It was at its peak during the late-1990s, when both parties were too distracted by Clinton's impeachment to monkey with the economy. And finally (e) the current economy has its roots in the combination of early-80s tax cuts by the Reagan administration and inflation destroying actions by Paul Volcker. Lieberman must be caught in the same distortion of the space-time continuum that Al Gore is in.
Posted
7/29/2002 02:06:13 PM
by Edward Driscoll
Posted
7/29/2002 02:03:57 PM
by Edward Driscoll
Posted
7/29/2002 01:45:17 PM
by Edward Driscoll
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Posted
7/29/2002 12:03:02 PM
by Edward Driscoll
Posted
7/29/2002 11:49:11 AM
by Edward Driscoll
Posted
7/29/2002 11:45:53 AM
by Edward Driscoll
Sunday, July 28, 2002
Posted
7/28/2002 11:50:00 PM
by Edward Driscoll
Posted
7/28/2002 11:28:40 PM
by Edward Driscoll
Posted
7/28/2002 11:12:40 PM
by Edward Driscoll
Posted
7/28/2002 10:13:34 PM
by Edward Driscoll
Posted
7/28/2002 10:02:53 PM
by Edward Driscoll
Posted
7/28/2002 09:02:31 PM
by Edward Driscoll
Posted
7/28/2002 03:47:24 PM
by Edward Driscoll
Posted
7/28/2002 03:36:51 PM
by Edward Driscoll
Posted
7/28/2002 03:18:21 PM
by Edward Driscoll
We dodged a bullet yesterday. A threatened run on the banks — on top of the plummeting stock market — was halted.Kudlow calls for a combination of sound medicine: a Fed rate cut, and some jawboning: [S]ources also tell me that President Bush and senior advisors are catching their breath and realizing they need to get back on message — which was the optimistic growth message of 2000 and 2001. It would also be nice to hear some new thinking on regulatory and tax reform that would promote growth and offset the negative effects of higher regulatory costs for accounting, securities, and corporate governance. Yesterday, the market stayed up — marking its largest one-day gain in more than a decade and a half — and we dodged a bullet. One day at a time is the best way to get through this financial crisis — and just about everything else in life, too.
Posted
7/28/2002 03:10:22 PM
by Edward Driscoll
Posted
7/28/2002 12:27:52 PM
by Edward Driscoll
Patrick Tierney, a tourism and hospitality professor at San Francisco State University, said that at least until business travel fully rebounds, the city may have to do more to position itself as a family-friendly destination. The city's reputation as an adult playground, with its pricey restaurants, urbane nightlife and sexually liberal ambience, may not be the most desirable in a climate in which families are looking to spend less money--and more quality time together--on vacations, Tierney said. "Forget about business travel meltdowns and the dot-com exodus," he said. "To survive right now, you have to be affordable and you have to have a family market. San Francisco is becoming a little more affordable--but only out of desperation. So now it has to highlight its family attractions too."As I said before, the city is where Philadelphia and New York were in the late 1980s. If even a liberal Republican like Guliani is unelectable, is there a West Coast equivalent to the former mayor of Philadelphia, Democrat Ed Rendell, who will step forward and try to clean up the mess? (By the way, the LA Times email registration I had to go through is just silly. I simply used my rarely checked Yahoo email address, registered my name to John Doe at 123 Any Street, Beverly Hills 90210 and registered to read the article. If the LA Examiner had had enough of it quoted, I wouldn't have even bothered to do that.)
Posted
7/28/2002 12:27:43 PM
by Edward Driscoll
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