I was just reading an article on the economist, titled American media - On the brink. It’s a favored topic on the internets - that the newspaper as we know it will not survive. Conversely, a favored lament from the newspaper industry is that bloggers are parasites, aren’t trustworthy, and use naughty words.
When looking at the print landscape, we see declining circulation, dropping revenue, and rising costs.
Secondly, even if you are a Republican or an Independent, there are still state-wide races (such as Treasurer) that you can vote in. Republicans can also write in their Democratic candidate of choice on the GOP side as well. Voters guides are available from Philly.com, the League of Young Voters, the League of Women Voters, and, for serious Catholics, here.
f you are anyone you know is not sure where to vote today, you can use the State Portal to find out.
I’ve wanted to write something about John Yoo and the torture memos, but it’s depressing and secondly I don’t like to write things that the more well-read political junkies already know, and I’m not sure how to sum up the intricacies of the entirety of Yoo, Bush, and the law in a way that will challenge any of the uninformed, misinformed, or Bush cheerleaders.Regardless, I’m tackling it anyway.
I’ve seen the rhetoric for the D-word heating up, and I don’t mean downturn. This very well may be the week that the curtain is pulled back on the batshit insanity that is the US economy.
The stock market has lost @ 10% of it’s value since 1/2/08. In 1929, the one day drop was 13% (There were actually several tightly spaced drop; In 1987, the one day drop was 23%, eventually totalling 60%.
World markets are plunging in response to fears and expectations that the United States will be (or already is) in a recession that will be both long and deep.
Disclaimer: I am by no stretch of the imagination an economist.
In listening to Ben Bernake's statement on the state of the economy and in consideration of the fiscal interventions as well as the pending economic stimulus package, its relevant to revisit the academic specialty of Mr. Bernake - the Great Depression. As I had written previously:
The rise of Mike Huckabee and John Edwards unexpectedly strong finish in Iowa is a strong appeal away from establishment rhetoric towards populist values, with predictable results. There been scores of economic impact coverage framing the cost of Edwards economic populism such that you could think it was a resurgence of socialism or communism. The right is about to unleash a blue-blood jihad against the corn-suckers of Iowa and other religious adherents, attempting to torpedo Huckabee while promoting the next annointed GOP nominee, Rudy GiulianiMitt RomneyFred Thompson John McCain. Since these folks don't particularly care (nor are aware of) the chattering classes, they will likely be unmoved by their criticism (although the corporate and hawk wings of the party will likely open their wallets). The end result of which will end up with a blessing for liberals and progressives - a disenchanted Evangelical grassroots movement that will likely stay home in November, 2008, and possibly write off the GOP for a generation or more.
Michael Barone said the following as posted in an article on Real Clear Politics:
Second, the preference for smaller rather than larger government is not as ample as it used to be. The strongest case against big government has been its failures in the 1970s, typified by gas lines and stagflation. But the median-age voter in 2008 was born around 1964, so he or she never sat in those gas lines or struggled to pay rising bills with a paycheck eroded by inflation. That demographic factor helps explain why Democrats today are promising big-government programs, unlike Bill Clinton in 1992, when the median-age voter remembered the 1970s very well.
An unelected Presidential candidate (Bhutto) was a greater threat (and subsequently assasinated) and not the current dictator, who has been bankrolled by the US to the tune of $5 BILLION dollars.