House Democrats have passed a $800 billion bailout on a party line vote, but, outside of Congress and the President, it’s hard to find even Democrats who actually like the bill. Could someone explain why, even theoretically, this particular bill is a good idea and
Where our country’s economic woes hit many of us the hardest is watching our retirement funds dwindle before our eyes. This story sums up how bad it has gotten, but also offers hope for how your 401(k)s or the equivalent can recover: In a study
. . .at least let’s have one that stimulates the economy. So says economist Martin Feldstein , who maintains that much of the $800+ billion we are going to spend will have little stimulative value. Instead, he has some suggestions: Why not a temporary refundable
The bailout bill is loaded with ‘Buy American’ requirements. Isn’t that reminiscent of the Smoot-Hawley Tariff that pushed the already-weakened economy in the 1930s into a global depression? The problem with protectionism is that it causes other countries to raise barriers of their own, cutting
George Will, in a column about how no one really knows what they are doing in trying to fix the economy, points out the role of metaphors in our economic thinking: Economic policymaking in turbulent times is a science of single instances, meaning no science
Thanks to Tickletext for this pertinent and timely quotation from Augustine: “Many weep with the weeping of Babylon, because they rejoice also with the joy of Babylon. When men rejoice at gains and weep at losses, both are of Babylon. You ought to weep, but
The House passed the $819 billion bailout bill. Not a single Republican voted for it. That means the Democrats own it. If it succeeds in getting the economy on track, they get the credit. If it doesn’t, Republicans can tell America they told us so.
More benefits from the bad economy. Inflation slows to half-century low in 2008: Inflation slowed to a half-century low last year and industrial output fell for the first time since 2002, data showed on Friday, as the recession deepened toward year-end, raising the specter of
Someone explain what happened here, as reported on the Touchstone blog: A Japanese Lutheran scholar, who qualified first as a Shinto priest, has said he became a Christian thanks to his Shinto teacher. “The teacher said to me, ‘As a religion, Christianity is the greatest.
Finally a line of clothing that I’d really like to have! President Obama Wears Bullet-Resistant Suit at Inaugural: According to some reports, he wore a suit made by a clothier specializing in bullet-resistant clothing during the inauguration ceremonies. While no one from the U.S. Secret
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