The Elites Party Like It’s 1931

By: Monday June 25, 2012 7:01 am

A few weeks back, the respected Martin Wolf wrote an op-ed for the Financial Times in which he lamented the inability of Europe’s elites to stop an inexorable collapse of the Euro monetary union. This one was widely noted not only because it was Martin Wolf saying it, but because of how he said it.


What Jonathan Chait Doesn’t Understand About Obama

By: Monday September 5, 2011 8:40 am

I suppose we should be grateful that TNR’s Jonathan Chait voluteered to write an apologia for President Obama as a way to explain to those he identifies with “the left” why Obama’s not such a bad President and to remind the “left” there were extenuating circumstances that explain the President’s failure, or refusal, to achieve what the left wanted and the country needed.

Wrong, Jonathan Chait: Not “Everybody” Thought the Stimulus Was “Mind-Bogglingly Large”

By: Sunday September 4, 2011 12:30 pm

I naively thought Obama’s offering to cut Social Security, Medicare and Medicaid would put an end to the “liberals are being unfair to Obama” genre, but Jonathan Chait (heh-indeeded by John Cole) published another one in the New York Times magazine today.

It’s full of problems, but I want to focus on this one — because it’s so obviously wrong.

ObamaCare vs. RyanCare: Scarecrow Gets Confused With “Serious” Strawmen

By: Saturday June 25, 2011 7:52 am

Ever since Jon Walker and I pointed out the real and superficial similarities between Paul Ryan’s proposed RyanCare for future seniors and the Affordable Care Act (ACA) structure for non-seniors, numerous pundits have been trying to deny either the similarities or the differences.

The Sufferings of the Millionaires, and the Sufferings of the Millions

By: Saturday March 19, 2011 9:10 am

42% of the millionaires in a recent Fidelity survey don’t feel wealthy. Seriously.

Maybe they should talk to the folks in Minnesota whom the GOP wants to prohibit from having more than $20 in cash in their pockets, or the family and friends of the Costa Mesa CA maintenance worker who committed suicide after getting a layoff notice.

As Paul Krugman noted, these are “the forgotten millions” — not to be confused with the poor, suffering millionaires. Poor babies. Poor, sad, miserable, suffering, pitiable babies.

Another Phony Dispute Between the White House and Its Stalking Horses

By: Thursday December 16, 2010 5:00 pm

And the icing on the cake is reading reports uncritically telling us the White House is, gosh darn it, really upset that Peter Orszag would embarrass the Administration by walking through those million dollar revolving doors at CitiGroup.

Good grief. You’d think this Administration had a stringent policy of not hiring people from Wall Street or allowing those steeped in its ethics from running the economy or defining the limits of financial “reform” and the purpose of HAMP. Please.

The Significance of Parrots, or Why Paul Krugman Won a Nobel Prize

By: Saturday October 2, 2010 9:00 am

Next Monday is when the Nobel committee begins to announce the various 2010 prizes. The candidates are carefully vetted, but there must be something that gives one person that little something extra that sets them above their colleagues. A recent blogpost by Paul Krugman suggests just what that something extra might be.

Late Night: McMegan Attacked by Gang of Economists

By: Friday September 10, 2010 8:00 pm

McMegan is taking a beat down from a gang of economists (Eastside Keynesians represent, yo) because she is intruding on their turf. And badly at that.

Peter Orszag Thinks the Rich Need Tax Breaks More Than the Unemployed Need Jobs

By: Tuesday September 7, 2010 9:52 am

Former OMB Director Peter Orszag gives us an absurd argument for why we should extend Bush tax cuts for the richest two percent of Americans for another two years but end the Bush tax cuts for everyone by 2013. To get there, Orszag has to ignore both economics and fairness and use logic and political arguments only when convenient.

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