CHALLENGING FINANCIAL TIMES
Martin Wolf is chief economics commentator for the Financial Times of London. “My reading of contemporary Republican thinking,” he writes, “is that there is no chance of any attempt to arrest adverse long-term fiscal trends should they return to power.” Read his analysis here, and pass it on to your friends or relatives who don’t think it matters who’s driving the car.
(“Supply-side economics transformed Republicans from a minority party into a majority party. It allowed them to promise lower taxes, lower deficits and, in effect, unchanged spending. Why should people not like this combination? Who does not like a free lunch?”)
(“Indeed, Greg Mankiw, no less, chairman of the Council of Economic Advisers under George W. Bush, has responded to the view that broad-based tax cuts would pay for themselves, as follows: “I did not find such a claim credible, based on the available evidence. I never have, and I still don’t.” Indeed, he has referred to those who believe this as ‘charlatans and cranks.’ Those are his words, not mine, though I agree. They apply, in force, to contemporary Republicans, alas.”)
Wolf concludes: “In sum, a great deal of trouble lies ahead, for the US and the world.”
But only if, I would argue, we fail to rise to the occasion. Hard as the Republicans will try to rewrite history – see Paul Krugman’s latest – we really don’t have to vote for them.
“There’s now a concerted effort under way to rehabilitate Mr. Bush’s image on at least three fronts,” Paul Krugman wrote Friday – “the economy, the deficit and the war.”
Look how they’re trying to fool us. Again.
And, yes, I know, everyone hates partisan politics, but these are just facts. When Bush promised a humble foreign policy, he was already looking for a way into Iraq. When he said that the “vast majority” of his tax cuts would go to people at the “bottom of the economic ladder,” he was simply flat-out lying. When so much money is involved and the facts are so clear, how can it be called anything else?
Bob Fyfe: “Friday, you mentioned that only 15% of hearing aid shoppers ask for a deal. Songbird Hearing in New Jersey has developed a fantastic, low-cost hearing aid. The company is a spin-off of Sarnoff Corporation, the inventors of HDTV and much else. The price is $179.90 and there is currently a 30-day free trial where you pay only $14.95 for shipping and handling. Full disclosure: I was the salesperson that sold the custom-made integrated circuit (chip) they use. I no longer work for that company but still have a bias about how good the product is. The ‘brains’ of the hearing aid were designed by a team of top-notch audio designers from a Fortune-500 semiconductor company in conjunction with a design team from Sarnoff. It’s definitely worth a try.”
DIAL A HUMAN
Frank Schrader: “Here’s where to go when you want find out how to bypass voicemail for many companies: dialahuman.com.”
Quote of the Day
The only thing that hurts more than paying an income tax, is not having to pay an income tax.~Lord Thomas Dunwar
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