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Saturday, August 28, 2004

NOW THIS IS OUTSOURCING!    Judicial Watch finds evidence that John Kerry "accepted laundered contributions for his 1996 re-election campaign from the Communist Chinese government and that, in exchange, he may have arranged meetings between Chinese aerospace executives and U.S. government officials." At least Enron and Halliburton weren't involved, so I guess it's okay.

Posted by Donald L. Luskin at 8:08 PM | link   

KROCADILE TEARS    Paul Krugman on the news that second quarter GDP was revised down to 2.8%:
"This is pretty disappointing," Paul Krugman, a Princeton University economics professor and columnist for The New York Times, said.

Posted by Donald L. Luskin at 6:01 PM | link   

THIS EXPLAINS KERRY'S WAR RECORD    Citing a Yale study, "Veterans with psychological or emotional problems tended to change their memories more often, the researchers found."

Thanks to reader Jill Olson for the link.

Posted by Donald L. Luskin at 12:59 PM | link   


Friday, August 27, 2004

SUPPORT THE TROOPS!    Paul Krugman, in his New York Times column, April 8, 2003:
In 1944, millions of Americans were engaged in desperate battles across the world. Nonetheless, a normal presidential election was held, and the opposition didn't pull its punches: Thomas Dewey, the Republican candidate, campaigned on the theme that Franklin Roosevelt was a "tired old man." As far as I've been able to ascertain, the Roosevelt administration didn't accuse Dewey of hurting morale by questioning the president's competence. After all, democracy — including the right to criticize — was what we were fighting for.
Teresa Heinz Kerry, at a speech Monday in Columbus, Ohio, on questions about her husband's Vietnam service:
"I'm very proud of his service...I believe that discussions or attacks on his service undermine the peace of mind not only of Vietnam veterans, but those now fighting for their country."
Incidentally, before her speech, "...a nervous speaker, after enumerating her charitable works, introduced Heinz Kerry as one of "the nation's leading philanderers.'" She'll fit right in, in the White House formerly of Bill Clinton.

Thanks to reader Jill Olson for the link to the speech coverage.

Update 8/28/2004... Reader Donald Poole has an outstanding historical observation about Dewey's "pulled punches" in that election! It's on our letters page.

Correction [8/28/2004]... As originally posted, I had said that Heinz Kerry's speech was given "today." It was, in fact, on Monday.

Posted by Donald L. Luskin at 10:52 PM | link   

TWIN TOWERS TERROR TOY RECALLED   

Good taste truly is timeless.

Small toys showing an airplane flying into the World Trade Center were packed inside more than 14,000 bags of candy and sent to small groceries around the United States before being recalled.

Lisy Corp., the wholesaler that distributed the candy, said Friday that the toys were purchased in bulk from a Miami-based import company.

The toys came in an assortment purchased sight unseen from L&M Import in Miami and included the toys depicting the Sept. 11, 2001, attack on the twin towers, whistles and other small toys, said Luis Pedron, Lisy's national sales manager. The invoice said the toy was a plastic swing set.

"I hate to blame the importer. He probably did not know what he was getting. He brings them in 40-foot containers. But whoever made it knew exactly what they were making," Pedron said.

Pedron said Lisy did not notice the small plastic figurines until two people complained, but there is no mistaking what the toys represent: At the bottom of each is the product number 9011.


Posted by Donald L. Luskin at 10:01 PM | link   

HOW A REAL WAR HERO TREATS HIS OWIE...   

Thanks to reader David Duval for the link.

Posted by Donald L. Luskin at 9:11 PM | link   

IT'S MORE ON TIME THAN YOU THINK    Further evidence that the world is not coming to an end, despite Democratic claims to the contrary. Late credit card payments have fallen to a 4-year low. Thanks to reader Jameson Campaigne for the link.

Posted by Donald L. Luskin at 9:09 PM | link   

TANKS FOR THE MEMORIES    Our old friend James Crystal on John Kerry's Dukakis-like "tank moment":
Here's why Kerry is dead meat. By running as a Vietnam HERO, he asked to be destroyed. His TANK moment, I predict, was the...very first thing he did at his convention: saluting and saying he was reporting for duty. The fact that he's continued to do the same thing on the campaign trail PROVES he doesn't yet get it. It's like a weak sissy continuing to stick his tongue out to REAL MEN and daring them to fight. By my calculation there are more REAL MEN in the 2.5 million Vietnam veterans than there are anti-Vietnam war veterans.

What I am amazed at is the continued defense of the righteousness of Kerry's actions in 1971. If he keeps this up, he has to rile up those like me who see what he did then as absolute TREASON. If he comes to his senses and apologizes, he'll also be plucked, because his extreme left wing supporters will be disgusted, and his opponents will be invigorated---the latter will have their appetite whetted, and they'll go for the jugular.


Posted by Donald L. Luskin at 9:05 PM | link   

WE'RE ON THE OP-ED PAGE IN MOTOWN    The Detroit News steps up to the plate with our account of what George Bush's tax-cuts have really done for all American taxpayers.

Posted by Donald L. Luskin at 11:00 AM | link   


Thursday, August 26, 2004

527 VARIETIES    Looking for an excellent compendium of all the 527 groups that the Kerry campaign is in bed with? Check out this story, courtesy (yet again) of perspicacious reader Jill Olson.

Posted by Donald L. Luskin at 11:05 PM | link   

TAKING THE JEWISH DENIAL THING A BIT FAR...    The New York Times has always sought to downplay its Jewish roots. But this is ridiculous:
The federal Equal Employment Opportunity Commission has found merit to racial and religious discrimination allegations filed by two longtime employees of The New York Times Co.

...[Harvey] Alpert, 53, of Marlboro, who is Jewish, alleges that he works in a religiously hostile work environment. The 27-year employee says a [sic] he has been a victim of a co-worker who "spits on the floor as he sees me" and religious slurs and threats, which he says were condoned by supervisors, according to the complaint.

"The situation there is what you'd expect to see in Alabama in the '40s," said Jeffrey M. Bernbach, a New York lawyer representing both men. "This stuff is as crude and incredible and senseless as that was. It was blatant."

Hmmm... now wasn't Howell Raines from Alabama? But, of course, now that he's gone and there's a "public editor" on duty, everything is supposed to be perfectly fine. So let's get back to work and get Augusta to admit women golfers. But not Jewish women, of course.

Thanks to Jill Olson for the link.

Posted by Donald L. Luskin at 10:35 PM | link   

THE NEW SOLDIER LINK    Reader Peter Mohan sends along this invaluable link to free PDF-format files containing the complete text of John Kerry's suppressed book, The New Soldier. Gotta love the internet. The truth is out there, and information wants to be free.

Posted by Donald L. Luskin at 10:39 AM | link   


Wednesday, August 25, 2004

THE TIMES IMPUGNS ITS OWN SOURCES    The lead editorial in the New York Times today:
Rather than single out the Swift boat group, Mr. Bush condemned all such stealth-party activities, Democratic and Republican, which have sprung up to evade legal restrictions on the flood of "soft money'' into political races. Mr. Bush called on Mr. Kerry to join in renouncing these specialists in low-blow politicking - an idea we applaud. This page has long criticized the Democrats' pioneering soft-money evasions, and the Federal Election Commission's refusal to control these rogue operations.
Uh huh... then why don't all the Times' editorials, and op-ed columns and news stories stop parroting the talking points spewed out every day by all "these specialists in low-blow politicking"? I'll tell you one thing -- if the Times did that, it could have a huge positive impact on the environment. The Times would only have to use half as much paper.

Posted by Donald L. Luskin at 7:23 PM | link   

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THE SAME OLD TIMES PLAME GAME   
Okay, Dan Okrent. Take a look at this and just try to tell me that the New York Times doesn't spin news stories -- not opinion, not analysis, but hard news -- in the direction that is the least flattering for the Bush administration. Consider today's coverage of the vacating of a contempt order against Time magazine reporter Matthew Cooper, who has agreed to testify concerning his conversations with Cheney chief of staff I. Lewis Libby -- conversations potentially concerning Joseph Wilson IV, and the exposure of his wife Valerie Plame as an intelligence agent. In all cases, emphasis is added.

From the Washington Post:

Cooper is at least the third journalist to answer questions under pressure from prosecutors about private conversations with Libby in July 2003... At the time, Wilson was a prominent critic of Bush administration statements on Iraq's efforts on such weapons and their use in the buildup to war. He suggested that his wife's identity was leaked in retaliation but has since backed off that claim.

...NBC Washington correspondent Tim Russert and Post reporter Glenn Kessler gave interviews to [Special Counsel Patrick J.] Fitzgerald under similar circumstances earlier this summer, also with waivers from Libby. Both journalists said they did not have to identify confidential sources and they told Fitzgerald that Libby did not reveal Plame's name to them.

From the Associated Press:

Libby has been the focus of several subpoenas issued by prosecutors to journalists, but both Kessler and Russert said he did not provide Plame's name to them.

And now from the New York Times. Not a word about how Wilson has "backed off" his claims. Not a word about how Libby has been exonerated in other testimony similar to that of Cooper. Nope -- just guilt by omission and guilt by speculation, Times-style.

...many questions about the investigation of the leak - to say nothing of the leak itself - remain to be resolved. It is not immediately known, for example, what role - if any - Mr. Libby might have played in the public identification of the intelligence officer.

...It is not known why the special prosecutor was so interested in questioning Mr. Cooper about Mr. Libby, though Time said in a statement today that Mr. Libby was was [sic] "one of Mr. Cooper's sources.''

Mr. Kelly, the Time managing editor, characterized the deposition on Monday as being "all about Matt's conversations with Mr. Libby,'' but he refused to answer any other questions about what Mr. Cooper was asked.

Similarly, NBC said in a statement earlier this month that Tim Russert, the moderator of the NBC program "Meet the Press,'' had agreed to be questioned by the special prosecutor's office about his contacts with Mr. Libby last summer.

Gee -- there's nothing for me to emphasize in the Times quotes. That's because they left out everything that could make Wilson's charges seem less legitimate, and Libby less guilty. I guess that was just news that didn't fit.

Posted by Donald L. Luskin at 6:37 PM | link   

KERRY HAS BEEN LISTENING TO BRAD DELONG AGAIN    The Associated Press quotes John Kerry:
"The truth, which is what elections are all about, is that the tax burden of the middle class has gone up while the tax burden of the middle class has gone down," he said.
Link via Taranto.

Posted by Donald L. Luskin at 5:36 PM | link   

ALL WE HAVE TO FEAR IS KERRY ITSELF    John Henke at the Q and O blog is on a roll. Check out this strong point-by-point refutation of John Kerry's economic fear-mongering.

Posted by Donald L. Luskin at 1:48 PM | link   

STANDING UP TO LEFTIST PRESSURE    If only everyone in the media would stand up to leftist pressure groups the way Tim Chavez of the Tennessean did. Chavez reports:
I got an e-mail from a person who identified herself as Melissa Salmanowitz with a group called Media Matters for America.

It supposedly is a watchdog on conservatives, and she was wanting me to write about her group's effort to get chain book stores to quit selling Unfit for Command due to accuracy problems.

So I e-mailed Salmanowitz and told her that I'd write about their cause to quash the book's examination of John F. Kerry's military record and anti-war activities if they'd make the same appeal to the movie theaters to stop showing Michael Moore's documentary, Fahrenheit 9/11.

There was no reply.

Thanks, yet again, to Jill Olson for a great link.

Posted by Donald L. Luskin at 1:45 PM | link   

STUNNING ARROGANCE    The Hit and Run blog catches Lewis Lapham in the latest Harper's describing (and, of course, vilifying) in the past tense speeches made at the Republican convention -- that won't be made until next week. Is the leftist mind so closed that it doesn't even have to wait and hear what conservatives have to say before stomping on it? Is it so arrogant that it can pretend to have listened in order to lend undeserved credibility to the stomping? Thanks to reader Jill Olson for yet another great link.

Posted by Donald L. Luskin at 12:39 PM | link   

UH, THINK AGAIN...    Have the ten Nobel economics laureates who have endorsed John Kerry read this about Kerrynomics?

Thanks to reader Jill Olson for the link.

Posted by Donald L. Luskin at 11:49 AM | link   

DELONG FIRES, DELONG MISSES    I'm really not sure what point Jabba the Economist thinks he's making here. Fact: John Kerry claims the middle class is shrinking. Fact: John Kerry presents no evidence for that, because there is no evidence. Fact: What evidence there is shows more people filing tax returns showing middle-class incomes, and less people filing tax returns showing lower-class or upper-class incomes. What about that is so difficult to understand? Kerry lies. The numbers don't. You'd think even a Marxist UC Berkeley economics professor would be able to grasp something that simple. Oh why oh why can't we have a better cadre to re-educate our youth?

Bonus round... Steve Moore fires back, too!

Posted by Donald L. Luskin at 11:11 AM | link   

JOKE OF THE DAY   

Posted by Donald L. Luskin at 11:10 AM | link   

COMMIES FOR KERRY    Hilarious satire site, where you can download posters like this one. Well worth a visit.

Thanks to reader Jill Olson for the link.

Posted by Donald L. Luskin at 11:04 AM | link   

REALITY IN CANADA    Here's the truth about "free" health care in Canada. This is what John Kerry wants to bring to the US? Thanks to reader Noel Sheppard for the link.

Posted by Donald L. Luskin at 8:42 AM | link   

FESSING UP    Jeff Jacoby -- columnist for the New York Times-owned Boston Globe:
With the exception of the Fox News Channel, the liberal tilt of the mainstream media - the major newspapers, the networks, National Public Radio, the news magazines - has long been a fact of American life. No one observing the coverage of this year's presidential campaign with both eyes open can have much doubt that the media establishment is pulling heavily for the Democratic ticket.

That explains why, for example, the intense media interest in George W. Bush's National Guard records last February wasn't matched by an equally intense interest in John Kerry's Navy history in May, when the Swift Boat Veterans for Truth first went public with their criticisms. Far from leaping on the charges that Kerry's Vietnam heroism had been greatly exaggerated, the mainstream media's initial reaction was to largely ignore them. And while the press saw no reason to question the credibility of Bush's accusers or to demand that Kerry repudiate them, their attitude toward the Swift Boat vets has been much more hostile.

None of this should come as a surprise. The nation's newsrooms are Democratic strongholds, and that cannot help but affect their coverage of the news.

Why can't the media simply admit this about themselves? Why the constant pretense of objectivity -- and the constant blather about how cable news and talk radio is so conservative? If liberal ideals are true and valid, just be proud of them and admit you are holding them. Must the media believe that the only way to promote liberal values is to lie about the fact that they are promoting them? What does that say about those values?

Thanks to reader Noel Sheppard for the link.

Posted by Donald L. Luskin at 8:28 AM | link   

SUPPORT THE TROOPS!    Paul Krugman's defense of John Kerry against the Swift Boat Vets is so logically contorted that he has ended up smearing America's soldiers at the same time as he pretends to defend them. The Ranting Profs blog has the story. Thanks to Croooowblog for the link.

Posted by Donald L. Luskin at 8:02 AM | link   


Tuesday, August 24, 2004

GOLD MEDALS AND HAMM    Our friend Mark DaCunha at Capitalism Magazine has a great summation of the Paul Hamm affair. Read the whole thing!

Posted by Donald L. Luskin at 4:29 PM | link   

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THE KRUGMAN, THE BITTER, AND THE UGLY   
Paul Krugman began his New York Times column today by patting himself on the back for a brilliant prediction --

"Almost a year ago, on the second anniversary of 9/11, I predicted 'an ugly, bitter campaign - probably the nastiest of modern American history.'"

Apparently America's most dangerous liberal pundit -- who is also an economics professor at Princeton -- has had to give up making not-so-brilliant predictions about the US economy, as Bloomberg's Caroline Baum noted in an email to me. In fact, they've all been so spectacularly not brilliant that Krugman was forced to say on Tim Russert's CNBC show several weeks ago, "compare me, uh, with anyone else, and I think you'll see that my forecasting record is not great."

And even this latest prediction -- about "an ugly, bitter campaign" -- isn't really so brilliant once you think about it. For one thing, just two sentences later in the same column "on the second anniversary of 9/11," Krugman predicts that either Howard Dean or Wesley Clark will be the Democrats' presidential candidate. (I guess that would make it, well, a lie when Krugman told George Stephanopoulos on his ABC News show last Sunday, that he is "often checked by the, by my editor to ask, you know, have you truncated a quote to change its meaning." It remains to be seen whether it was a further lie when he added, "It's exactly the kind of thing that would force me to issue a humiliating correction in my column if I did it.")

But even in isolation, was it really so brilliant for Krugman to predict "an ugly, bitter campaign"? Sure -- but only in the same way that as it was brilliant for Arnold Rothstein to predict that the White Sox would lose the World Series in 1919.

That's right. On this bet, the fix was in. No one has personally done more to make this campaign "the nastiest of modern American history" than Paul Krugman himself.

Yes, in his latest column, Krugman decries the ugliness and bitterness of anyone's daring to question John Kerry's four months of heroism in Vietnam (or Cambodia, or wherever he claims to have been). But Krugman has consistently urged more -- not less -- ugliness and bitterness, provided that the ugliness and bitterness is directed against President Bush. In the primary season he openly endorsed the Democrats' raver-in-chief Howard Dean. In one column last January he wrote that "A mild-mannered, upbeat candidate would get eaten alive." In another January column he even urged John Kerry to drop out of the race to get out of the way of then front-runner Dean: "This is no time for a candidate who is running just because he thinks he deserves to be president."

Kerry is too mild-mannered for Krugman's taste for the ugly and the bitter, but his wife Teresa Heinz Kerry is another matter. In a column last month Krugman applauded Mrs. Kerry's publicly telling a reporter to "shove it" after he questioned her use of the McCarthyite expression "un-American" (which she had indeed used minutes before, and then denied having said).

And Krugman is a consistent defender of Michael Moore's ugly and bitter film "Fahrenheit 9-11." In a July column he admitted it was a "tendentious, flawed movie" that will leave viewers "believing some things that probably aren't true." But the end justifies the Moore -- Krugman claims the film "tells essential truths." And despite the fact that Moore has called America "this country of mine, which is known for bringing sadness and misery to places around the globe” and has said "I’m American...We’ve got that big s***-eating grin on our face all the time because our brains aren’t loaded down,” Krugman told Tim Russert that Moore "is a guy who really does love his country."

Krugman has even defended the worst possible ugliness and bitterness -- the lunatic anti-Semitic ravings of Malaysian premier Mahathir Mohamad. How? He blamed them on George W. Bush. What else?

Krugman has to defend the ugly and the bitter from the political left. That's because no one else has played such a pivotal role in making ugliness and bitterness the norm in mainstream leftist political discourse. Believe me -- I know from ugly and bitter personal experience. Last year I attended a lecture by Krugman, and soon thereafter he went on national television and smeared me by accusing me of having "stalked" him "personally."

That's nothing compared to what Krugman has said about George W. Bush. Endless is the list of villains, real and fictitious, to which Krugman likens Bush. One column last year had him as Captain Queeg of "The Caine Mutiny." Another column had him as the emperor Caligula. A column this month cast Bush as the mind-control pawn of Osama bin Laden -- "The Arabian Candidate." And no list like this would be complete without the inevitable Hitler comparison -- found in the introduction to Krugman's best-selling Bush-bashing book The Great Unraveling.

Nothing is too petty, too personal -- or too downright slanderous -- in Krugman's quest for the ugliest and bitterest. One especially nasty column last year likened the teetotaling Bush to a "recovering alcoholic falling off the wagon." A 2002 column accused Bush of taking "a $12 million gift" while "a sitting governor" when he was paid out on his contractual interest in the sale of the Texas Rangers (an angry letter to the Times from Bush's former partners explained that the contract had been negotiated a decade earlier, but Krugman never ran a retraction). I leave it as an exercise to Krugman Truth Squad wannabes everywhere to find any of  the endless numbers of columns accusing the Bush administration of all manner of unproven corporate corruption associated with the war in Iraq.

Consider the ugliness and bitterness with which Krugman -- supposedly a serious academic economist -- has expressed himself on Bush's economic policies, especially his tax cuts. In columns last year he said the tax cuts were part of a "fiscal train wreck...already under way." He said they were evidence that Bush "actually wants a fiscal crisis." He said we should reconsider the tax cuts because "the long-run budget outlook is nothing short of catastrophic." He warned that thanks to the tax cuts, international investors will  be "treating us like a banana republic." All the way back in 2001 he called Bush's first small tax cut "disastrous."  (What may be ugliest of all is the way Krugman responded to Bill O'Reilly when he accused Krugman, on Tim Russert's show, of having said "Column after column after column... these tax cuts were going to be disastrous for the economy." Krugman said: "Nope! ...That's a lie. Let me just say, that's a lie.")

Krugman is even ugly and bitter about unspecified sins that he only imagines George Bush has committed. In Monday's column Krugman writes,

"...his inner circle cannot afford to see him lose: if he does, the shroud of secrecy will be lifted, and the public will learn the truth about cooked intelligence, profiteering, politicization of homeland security and more."

You see the rhetorical dirty trick here? Someday just try defending yourself against an accusation where the very absence of evidence is used as evidence against you!

The ugliest and bitterest version of this dirty trick is Krugman's repeated prediction that the 2004 presidential election will be rigged. Way back in December of last year Krugman wrote a column exaggerating problems with touch-screen voting machines (which have only been put in place for this year's election because people like Krugman exaggerated the problems with "butterfly ballots" in the 2000 election). It's not just that the machines don't produce a paper audit trail -- no, Krugman warns that they are manufactured by a company whose CEO is a Bush supporter. He wrote, "...you don't have to believe in a central conspiracy to worry that partisans will take advantage of an insecure, unverifiable voting system to manipulate election results."

Krugman won't require proof this November. As long as Bush wins, the result will be suspect: "We may never know," he intoned in a column last week. His loony solution to the predicted election fraud? Check it out:

"Intensive exit polling... It would serve as a deterrent to anyone contemplating election fraud. If all went well, it would help validate the results and silence skeptics."

We hardly need to ask what he means by "if all went well." That means, "If Kerry wins." And we hardly need to ask what happens if all does not go well -- that is, if Bush wins: then Democrats can use their hand-picked exit polls to contest the results (and Michael Moore will have the opening scenes for his sequel to "Fahrenheit 9-11" ready made). Such use of exit polling is such a manifestly bad idea that even the New York Times itself rejected it in an editorial last week -- when exit polls were used to question the validity of the recall victory of Venezuelan strongman Hugo Chavez (whom the Times favors because the Bush administration wants him out of power).

What we have here, then, is more than just a self-fulfilling prophecy of "an ugly, bitter campaign." We have the opening moves in a pre-scripted left-wing game-plan designed to assure a victorious George W. Bush an ugly and bitter second term. Before that second term even begins, Krugman -- acting as the primary mainstream-media mouthpiece for the left -- has created the conceptual structure for denying Bush's fundamental legitimacy. If Bush wins the election, by definition he stole it. If he does a great job in office, that's just because he managed to keep scandals hidden from view.

That liberal game-plan amounts to nothing less than an attack on the fundamental processes by which collective decisions are made, and are given legitimacy once they are made. It's an attack on the rule of law. It doesn't get much more ugly or much more bitter than that.

Posted by Donald L. Luskin at 2:34 PM | link   

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HAMM'S RECOUNT   
Reader Jason Nordwick asks,
Concerning the scoring controversy involving Paul Hamm and the incorrect start value of the South Korean, why are so few news outlets reporting the other scoring problem? Yan Tae-Young also performed a parallel bar routine that incorporated four holds when only three are allowed. This should have been a mandatory two-tenths of a point deduction.

If you are going to review tape to make sure the judges got the start value correct, then shouldn't the missed mandatory also be corrected? The one-tenth gained by adjusting the start value would be more than offset by the two-tenths loss. Last night NBC gymnastics commentator Tim Daggett went over the tape and showed where all four holds were and agreed that Hamm should have the sole gold for the event. Daggett has been exceptionally fair in his evaluations, remaking when he thinks scores have been too high or low.

I saw the same tape last night, and have wondered the same thing. But isn't the answer obvious? How many news outlets have reported that George Bush won the Florida election in 2000 no matter how you do the recount?

Posted by Donald L. Luskin at 2:28 PM | link   

JOKE OF THE DAY   

Posted by Donald L. Luskin at 12:46 AM | link   

LIBERALS POLITICIZE THE OLYMPICS    Is it any surprise that the New York Times, the Washington Post, and the rest of the liberal media are falling all over themselves to trash Paul Hamm's Olympic gold win? This time it's more than just "blame America first," although that is surely a major ingredient. This time it's about subverting the rule of law when you don't get the politically correct result -- in this case, the rules of judging gymnastics and the stated protocol for redressing grievances within a specific timeframe and no later. It's all about revving up the American liberal establishment for weeks of whining and lawsuits about hanging chads and voter intimidation and defective touchscreens and everything else when George Bush wins the presidential election.

Posted by Donald L. Luskin at 12:32 AM | link   


Monday, August 23, 2004

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HOW CONSERVATIVES CAN GET QUOTED IN THE WASHINGTON POST   
It's easy -- even when the reporter is liberal lackey Jonathan Weisman. Just say something negative about the Bush administration, and you get all the ink you want. From this morning's Post:
"I guess the most accurate thing I could say is there's sort of a deafening silence," said Donald Luskin, a conservative investment adviser in California. Referring to the current economic team, Luskin said, "The period these people have been in power is a period when very little economic initiative has been coming out of the White House."

Posted by Donald L. Luskin at 11:24 PM | link   

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THE NIGHT CABBIE STALKS KRUGMAN   
At least that's what Paul Krugman accused me of doing, when I did nothing more than this cab driver (who happens to write a column for the San Francisco Chronicle) did -- go to see one of Krugman's lectures and ask him a question. Check this out!
I pull up to Gold's' corner entrance and stop. She pays me, adds a fat tip and hurries in. I see her bouncy behind. On it is stenciled, "JUICY."

1000 Van Ness Avenue: "Paul Krugman's great unraveling'': It's early evening. I now finish driving at 5 p.m. I take in a movie; Tom Cruise in "Collateral." In it, the actor picks up a cab at LAX and goes on a hunting spree. He's a hit man. Cruise pays the cabdriver $600, too. This is the part that interested me. If Mr. Cruise has any unfinished business up here, I could use some fast cash.

Exiting the theater, thinking about the film, I cross the street heading south toward City Hall. At Opera Plaza, a vinyl sign reads, "Paul Krugman, Wednesday, August 11th, 7 p.m." I think, interesting, this New York columnist seems to live here. It's the 10th. I decide to listen to the dude.

On the 11th, I arrive at 6 p.m. to get a good seat. I start scanning Krugman's latest collection of columns. San Francisco is not New York City. This evening, I'm going to play the hit man. I'm going to hit P.K. with a question or two. I scan his new book, "The Great Unraveling." The subtitle is "Losing Our Way in the New Century."

I bring the ad for it, cut from the paper. In the ad, the Boston Sunday Globe calls it "a fiercely patriotic book." Then Al Franken says, "P.K. is a hero of mine." And the New York paper that he writes for claims: "Krugman's best columns showcase his fluency in economics."

Scanning the column collection, I form two questions, knowing that if I'm lucky, I will get one off. Soon all the chairs are taken, and there is standing room only. This event is free.

At 7 p.m., a man with a soft voice walks up to the podium and announces, "Let's all welcome Paul Krugman." Soon, a bearded, pudgy dude rushes out from behind a partition. This entrance is kind of like the "Tonight" show. P.K. has a laptop with him.

He starts by telling the crowd about his daily Web site fix. He monitors the www.GeorgeBush.com site. He looks for quotes. He spends a couple of minutes trying to access the site, while speaking.

In the interim, we hear little blurbs about how the Bush administration is destroying the planet. With each blurb, the audience claps and laughs. The woman sitting to my left is German. She tells me, "I was a little girl in Germany under Hitler, and you do not know what it was like."

I look at her in disbelief, then say, "Thank America you now speak English." She stares at me and says, "You must be a Republican." At this moment, the famous columnist quotes from the president. I can't remember the line, but the audience signals total agreement. P.K. closes his laptop and speaks for about 20 minutes.

He ends his talks by making a statement on the world economy.

"My buddy Robert Rubin, the ex-secretary of the Treasury, is scared. I trust him," he says.

He does not tell us about Rubin's relationship with Enron and Citibank.

Then he says, "Now I'll take your questions." He is asked about Leon Kondratieff and the economic long wave. He shows some superficial understanding of the Russian economist, then dismisses the man with a wave of his hand.

He is asked about a setback in the banking system. He tells the crowd, "I have not studied the problem yet." Responding to a question on Forex, he states, "I have studied the currency markets, and there really is no problem with the dollar versus the euro. All banks just convert when they need to."

Then I get a chance to ask this: "Based on the advertisement in the papers for your book, the paper you write for claims you have fluency in economics. What are your credentials in economics?"

At first, P.K. is a little taken aback by this question. He hesitates, then blurts, "I've written a hundred papers on the subject. I have a background and education." The audience laughs and claps hysterically. P.K. does not claim to have a degree in economics. He does not claim any formal training in the subject.

Ten minutes later, he ends the session to start book signings. I don't buy the book. He has not written 100 columns on economics, so I would like to know: Are the 100 papers available to read?

"The Great Unraveling" has a column or two about Japan. Between 1990 and today, P.K. implies, Japan's economy never collapsed. He implies that the 80 percent decline in the Nikkei, Japan's stock market average, was just normal business.


Posted by Donald L. Luskin at 12:28 PM | link   

JOKE OF THE DAY   

Posted by Donald L. Luskin at 11:35 AM | link   

THE TIMES LIKENS BUSH TO BIN LADEN    The New York Times can't even run a book review without taking the occasion to bash Bush. From Friday's review of Osama: The Making of a Terrorist by Jonathan Randal:
Mr. Randal emphasizes certain psychological components that may remind the reader of similar dynamics in the life of George W. Bush.

For instance, Mr. Randal writes that "pop psychologists have suggested" that Mr. bin Laden's adult life "was one unresolved oedipal struggle with his powerful but neglectful father..."

"Remind the reader"? Or, remind the Times staff writer? Or, the Times staff writer reminds the reader?

Thanks to reader Vito Racanelli for the link.

Posted by Donald L. Luskin at 11:23 AM | link   

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I NEVER THOUGHT I'D MISS DAN OKRENT   
It's been getting harder to be interested in what New York Times "public editor" Dan Okrent has to say, as he goes further over to the dark side with every column. Yet yesterday's column by Jack Rosenthal -- the former senior editor of The Times who is filling in while Okrent is on vacation -- makes one realize how much worse it could be. Okrent will be horrified to come back from vacation and see that his substitute has taken on the momentous question "What Belongs on the Front Page of The New York Times," and Times skeptics will surely be horrified by Rosenthal's smarmy and self-justifying answers. In terms of pure substance, Rosenthal's comments offer little more that "we put what we think is important on the front page." But the particular way he uses 1500 words to say that is revealing.

It is indeed an interesting topic. Rosenthal begins by asking, "why, for instance, does a paper that made much of Whitewater, a real estate deal that occurred before Bill Clinton's presidency, now fail to give Page 1 prominence to the financial improprieties at Halliburton under Dick Cheney?" If the Times has never mentioned a Halliburton impropriety on page one, I'll eat the Sunday edition, Frank Rich and all. But be that as it may, Rosenthal never even flirts with answering the subtextual question implied in this example: "Why isn't the Times even more liberally biased?" And Rosenthal asks, "Why does The Times put so many articles about Abu Ghraib on Page 1?" But he never answers the real question here, either: "Why is the Times as liberally biased as it already is?"

Instead of answers, there is the "you are there" setting of the scene that takes you inside the majestic kingdom-and-power halls of West 43rd Street.

"Promptly at noon and again at 4:30, about 18 editors gather around a long oval table to hear what each of the major departments recommends for Page 1 the next morning. The executive editor and managing editors encourage discussion."

For those of us who don't work for the Times, it's Impressive to know the table is long, and useful to know it's oval. And for those who do work for the Times, it's no doubt comforting to know that, in the post-Howell Raines era, the executive editor and managing editor let other people talk.

And instead of answers, there is hilarious denial. Here's a passage that actually dares to argue that the proliferating "analysis" pieces on page one and elsewhere in the news sections are not, in fact, opinion pieces:

From the start, Times editors have taken pains to see that these articles do not express opinion; that's the province of the editorial and Op-Ed pages.

Sometimes simple juxtaposition of facts tells more of the story. Consider, for instance, this excerpt from Todd Purdum's Aug. 4 news analysis on the most recent terror alert: " 'We don't do politics in the Department of Homeland Security,' Secretary Tom Ridge said on Tuesday in dismissing any suggestion that his latest threat warning had a political motive. But on Sunday, Mr. Ridge, a former Republican congressman and governor of Pennsylvania, did do some politics all the same, when he declared that the intelligence behind his alert was 'the result of the president's leadership in the war against terror.' "

Quite an example to have chosen. Is Rosenthal so pickled in the formaldehyde atmosphere of West 43rd Street that he can't see how this example proves the exact opposite of his claim that opinion is exclusively "the province of the editorial and Op-Ed pages"?

More denial: to readers who ask for more facts and less "analysis," Rosenthal huffs, "To advocate more explanation may be just glib. When a reporter is writing on deadline soon after an event, there may not yet be anything more thoughtful to contribute." This can be summarized as: "Don't expect us to report the news -- that takes too long."

Why, then, run with anything at all? As Rosenthal says earlier in the column,

"...every editor remembers the unspoken first law of journalism: big news or no news, you gotta run something. Especially on slow days, heads of the various departments at The Times look for the opportunity to present original reports. These may disclose a new aspect of a continuing story, like the federal investigation into who leaked the name of Valerie Plame of the C.I.A. to a Washington columnist."

One wonders why that particular example leaps to top-of-mind as something worthy of page one treatment on a slow news day. Why not coverage of John Kerry's Swift-Boat Vets controversy? No answers to questions like that. I guess to answer such questions may be just glib. I guess that's not what they talk about around that long, oval table.

Posted by Donald L. Luskin at 10:08 AM | link   

THE OIL/RECESSION MYTH    Here's a devastating counter-conspiracy column by Bloomberg's Caroline Baum, taking on the easily refuted yet deeply held myth among economists that an oil shock caused the early-1990s recession. One has to wonder whether it's sheer coincidence that so many left-leaning economics pundits are trotting out that myth now, with oil at new highs and an election looming:
Let's start with the basic untruth as regards the 1990-1991 recession. Oil prices rose AFTER the economy was already in recession.

The average closing price for the front-month U.S. light sweet crude oil contract in the year before Saddam Hussein's invasion of Kuwait on Aug. 2, 1990, was $19.72. Oil prices took a brief trip up to $24 (January 1990) and a brief dip down to $15.00 (June 1990), but they were pretty much a non-issue until the Kuwait invasion. Crude oil settled at $21.54 the day before Saddam violated Kuwait's sovereignty.

Oil didn't trade consistently above $30 a barrel until September, and the spike to $40 in October was short-lived.

While it can be debated what effect the rise in oil prices had on an already weak U.S. economy, it's just plain false to attribute the cause of the recession to the rise in oil prices.

Cause has to precede effect. The recession started in July 1990, according to the official arbiter of the business cycle, the National Bureau of Economic Research's Business Cycle Dating Committee...

What part of cause and effect don't the folks claiming oil caused the recession understand?


Posted by Donald L. Luskin at 9:30 AM | link   

ONLY DELONG ON ECONOMICS, ONLY RUMSFELD ON WAR    With Brad DeLong having already identified himself as "someone who is, I think, more inclined toward 'Marxism' than anybody else on the Berkeley campus," irrepressible reader Jim Glass turns up the following from DeLong, in which he defines himself into a position of exclusive legitimacy to comment on economic policy:
...the question, "What, exactly, is the market failure here?" always needs to be asked; and that the question, "How, exactly, does this policy reduce the magnitude of the market failure without causing bigger government failures?" always needs to be answered--these questions are almost always of crucial importance.

It is because these questions are almost always of crucial importance that I believe--as a general rule, there are exceptions--that only economists...who are left-of-center and have spent significant time working in a bureaucracy are qualified to express opinions on matters of public policy.

If you're not an economist, then (as a rule) you don't ask any of the three questions. If you're an economist but not a left-of-center one you don't believe in market failures, and don't ask question 2. If you're a left-of-center economist who has never worked in a bureaucracy, you don't believe in government failures and don't ask question 3.

Here's Glass's comment:
Apart from informing us that apparently Plato intended his Guardians to be left-of-center, bureaucrat economists, this also seems to tell us that Krugman is not qualified to express opinions on matters of public policy due to his lack of significant work experience in government bureaucracy, such as would have taught him how likely government action is to just make things worse. Hey, I knew there was a problem with him, and that's not entirely implausible!

Now, I was thinking of applying this DeLongian analysis to military affairs. Let's see... The only people qualified to express opinions upon the need for military intervention aboard are right-of-center and have long experience in the military bureaucracy. Because one must be right-of-center to see threats requiring military intervention that left-of-center types don't believe in. And a right-winger without long experience in the military bureaucracy won't realize how the military can screw up, and so won't assure it doesn't. Hey, Rumsfeld's the guy -- make him C-i-C! War is too important to be left to civilians.


Posted by Donald L. Luskin at 8:54 AM | link   


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