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Chronicle of the Conspiracy Friday, October 07, 2005 NOW YOU CAN SHORT KRUGMAN Well, no pun intended. Just go to Tradesports, and you can buy or sell a field of candidates for the Nobel Prize in economics. Or watch them trade in the blue box toward the top of the left column on this blog. Keep your fingers crossed... do you have any idea how insufferable he'd be if he actually won?Posted by Donald L. Luskin at 6:16 PM |
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JOKE OF THE DAY Posted by Donald L. Luskin at 1:33 PM |
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PREDICTION MARKETS AND EL BARADEI Our "prediction markets" guru Chris Masse notes: This is a good article, dated prior of the Nobel Peace Prize announcement. It gave the bookmakers' odds (and URLs). El Baradei/IAEA was indeed the favorite -- in a weak form, not in a strong form. But that's still an honorable performance if you consider that the selection process is a very closed one ---a conclave in fact. Divining what's in the head of 5 jury members is a very tough call. In this case, bettors made a geopolitical guess -- "the Oslo guys wanna make an anti-Bush statement."Update... Chris has another one: how prediction markets are being used to forecast flu epidemics! Posted by Donald L. Luskin at 12:52 PM |
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Thursday, October 06, 2005 WORST OPENING LINE OF THE DAY From today's spam harvest:Hello, Posted by Donald L. Luskin at 6:47 PM |
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BET YOU DIDN'T KNOW ...that Milton Friedman is a "financial terrorist." Well, it's true. That and more. Read and learn. Posted by Donald L. Luskin at 10:43 AM |
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BETRAYING THE PROGRESSIVE CAUSE The New York Times turns its back on reform for a mere fifty bucks.
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MAUREEN DOWD WOMANS THE PICKET LINE Is the Times' daffy redhead on strike? Editor & Publisher notes that she's the only Times columnist to have failed to create custom content for their new TimesSelect subscription-only website. Okay, but it's not like the other ones are doing anything valuable there. E&P notes that "Krugman has a 'Money Talks' feature with readers' mail and full explanations on why he is reading what he's reading." Don't you just love that title, "Money Talks"? Like it's going to be some kind of personal finance column, like Paul Krugman is suddenly going to morph into a beared dwarfish version of Suze Orman. Check out this "Money Talks" -- that is, if you want to pay $50 bucks. You won't be thrilled. Here's the value-added. There's a list of Krugman's coming speaking engagements (stalkers, take note). There are a couple of atta-boys from readers about "Incompetence in the Bush Administration." And there's a little sidebar suggesting the novel idea that readers seeek economic data from the Congressional Budget Office and the Census Bureau -- and, of course, the Center on Budget and Policy Priorities ("the number-crunching is utterly scrupulous"). Can I get my money back? Posted by Donald L. Luskin at 9:04 AM |
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AND SPEAKING OF TRADESPORTS... That evil Irish gambling website is now offering some interesting new political contracts. Check out the blue quote-box in the left margin of this page. Probability that Harriet Miers will be confirmed? At the moment, about 75%. Tom Delay guilty of conspiracy? No way -- less than a 10% chance. Guilty of laundering? Not much more likely -- less than 20%. Will the GOP continue to dominate Congress in the 2006 election? For sure -- almost 90% for the House, and about 75% for the Senate. Posted by Donald L. Luskin at 8:56 AM |
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IT'S FOR OUR OWN GOOD, YOU KNOW Thank goodness the Commodities Futures Trading Commission is there to protect American consumers from the depredations of evil Irish gambling websites that offer them the opportunity to participate in commodities and currency markets with efficient, small, low-cost investment products. If the CFTC hadn't fined Tradesports $150,000 for offering unregulated futures contracts, who knows what profits we might be afflicted with!? Thanks to Chris Masse's prediction markets blog for the link. Posted by Donald L. Luskin at 8:52 AM |
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JOKE OF THE DAY Posted by Donald L. Luskin at 8:52 AM |
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Wednesday, October 05, 2005 "UNWANTED" HOMES? BY WHOM? Look what happens when you open Pandora's box. Neal Phenes reports:A Florida city is planning to use eminent domain to remove 6,000 unwanted homes to build a billion-dollar waterfront yachting and housing complex. The town, Riviera Beach is a poor, predominantly black, coastal community.Update... Reader Steven Halessees it differently: The post you linked to contains an error. There are not 6000 homes but 6000 residents potentially affected by this action. There are only an estimated 2000 residences and businesses affected. Update 2... But on the other hand, eminent domain marches on in New Jersey, in an especially corrupt (and Democratic) form. From the Star Ledger: On May 21, Albert G. Mauti Jr. and his cousin Joseph hosted a fundraiser for Assemblyman Joseph Cryan at the Westmount Country Club in Passaic County. The two developers and family members picked up the $10,400 dinner tab, donated another $8,000 and raised more than $70,000 that night for the powerful Union County Democrat, according to state election records. Posted by Donald L. Luskin at 11:22 AM |
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Tuesday, October 04, 2005 NOT EXACTLY A FIRST Robert Musil talks about two justices who never acted as judges before joining the SCOTUS. If it's good enough for Byron White -- considered by many to be among the greats -- and Robert Jackson, why not Harriet Miers?Update... The beat goes on. According to the Supreme Court Historical Society, all of these justices ascended to the SCOTUS without ever before weilding a gavel: William Rehnquist (1972-2005)* Posted by Donald L. Luskin at 12:13 PM |
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NOW THIS IS WEIRD Harry Hutton has been corresponding with Professor Krugman. Something about a carp... Posted by Donald L. Luskin at 11:52 AM |
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Monday, October 03, 2005 OKAY, NOW I GET IT... Here's why the New York Times has let John Tierney run wild with his libertarian ideas these last few months. It was all a smoke screen. Today he comes out in favor of -- yes, it had to be! -- a new tax. That's right, a new tax.Posted by Donald L. Luskin at 11:50 PM |
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NOW HERE'S HOW TO ADMIT YOUR ERRORS The New York Times editorial page could learn from these guys -- a VC firm that proudly lists on its website all the great deals it passed on! It breaks your heart, though! Thanks to reader Jeff Lin for the link. Posted by Donald L. Luskin at 11:16 PM |
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WHO DO YOU LOVE? Does the New York Times love government regulation? Or do they just love Venezuelan strongman Hugo Chavez? Or both? Posted by Donald L. Luskin at 2:39 PM |
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NOW COLLINS HAS TO REALLY MEAN IT Our long-running campaign to get Paul Krugman to retract the lie in his August 19 New York Times column about the 2000 Florida presidential election has succeeded beyond our wildest expectations. Not only was the correction finally made in print in Sunday's Times. But at the same time, as the result of the intense embarrassment this affair has caused the "newspaper of record," the Times announced the imposition of a new and more rigorous corrections policy for the entire Times editorial page. Yep. It's not just Krugman, America's looniest liberal pundit. The new policy is going to apply to Frank Rich, Maureen Dowd, Bob Herbert, Thomas Friedman and the rest of the op-idiots who write the world's most influential liberal opinion columns. No longer will the columnists be responsible for running their own corrections appended as end-notes to their columns (or, more likely, not run at all -- or if run, sneaking them into the main text so they don't look like corrections at all). From now on corrections will appear in a separate "For the Record" box on the editorial page, similar to the way corrections have always been run for the news part of the paper. Now, as those errors accumulate in properly documented form, the world -- and posterity -- will see the shocking extent to which the Times' liberal columnists are being liberal with the truth. The first such corrections box appeared on Sunday's editorial page. Here's one especially hilarious item from it -- a single correction in which no less than three Times columnists are all caught telling the same Leftist lie about supposed cronyism in the Bush administration, with Krugman telling it twice!
The new columnist corrections policy comes at a moment when the Times has been intensely embarrassed by a series of high-profile corrections of almost inconceivably stupid errors in the news section of the paper. It's no coincidence that these errors have all stemmed from the Times' increasingly strident crusade to discredit the Bush administration. For example, a September 5 story by television critic Allesandra Stanley -- making the self-evidently preposterous claim that the media used to treat the Bush administration with kid gloves, but is suddenly treating it harshly -- said, en passant, that Geraldo Rivera "nudged an Air Force rescue worker out of the way so his camera crew could tape him as he helped lift an older woman in a wheelchair to safety" in flood-ravaged New Orleans. The Times admitted in a correction on September 26 that, in fact, "no nudge was visible on the broadcast" and offered the lame excuse that they regarded Stanley's statement as a "figurative reference to Mr. Rivera's flamboyant intervention." And last Tuesday there was a story condemning John Roberts, printed when he had yet to be confirmed by the Senate as Chief Justice of the Supreme Court, for his views on libel laws as expressed in a memorandum from the 1980s. A correction that ran on Wednesday admitted that Roberts had not written the memo. The correction further admitted that three "experts" quoted in the original story had "discussed the...memorandum, provided to them by a reporter, on the assumption that it had been written by Judge Roberts." Of course for the new columnist corrections policy to be effective, it will have to be rigorously enforced. And there's no reason to believe that it will be. The corrections policy already in force never was. And getting the Times to admit fallibility is always an uphill battle. The correction about Geraldo Rivera's nonexistent "nudge" came only after three weeks of Rivera's vigorous protests and threats of legal action, and after Times executive editor Bill Keller had sniffed, "Frankly, given Mr. Rivera's behavior since Ms. Stanley's review appeared... Ms. Stanley would have been justified in assuming brute force." In fact, it it hadn't been for five Krugman Truth Squad columns (August 24, August 31, September 13, September 21 and September 26) shaming the Times for not correcting Krugman's Florida election lie, I have no doubt it would remain uncorrected to this day. In fact, in one important respect, it is still uncorrected. The correction Sunday appeared as an appendage to a column by editorial page editor Gail Collins announcing the new policy -- it did not appear in the official corrections box. As a result, it has not been appended to the three Krugman columns that contained the lie about the election -- those of August 19, August 22, and August 26. Go to the Times' online archives -- or to the Lexis/Nexis, Factiva or ProQuest databases -- and you'll see. Those three columns are still telling the same old lie, uncorrected -- that "Two different news media consortiums reviewed Florida's ballots; both found that a full manual recount would have given the election to Mr. Gore." And there is much in Gail Collins' column announcing the new policy that raises doubts about her will to enforce it. She claims she wants "to cultivate the reflex that automatically fixes any inaccuracy, without whining." But concerning the infectious lie about Michael Brown's purported college roommate crony, Collins whined that Brown is "now legendary as a disaster in his own right." And denying the whole sorry history of Paul Krugman's refusal to correct the dozens of errors, misquotations, distortions and downright lies documented over three years in this column, Collins dares to utter this howler: "in the four years that I've edited these pages I've never had a columnist refuse to make a correction." And almost unbelievably, Collins even dared to lie about the very recent history of the Krugman Florida election correction, claiming that Krugman made a "correction to the Web version of his column," making it sound as though the only problem was that the correction never saw actual print. But Krugman simply did no such thing. Until Sunday, the only accurate correction of Krugman's election lie was published on its own as a separate item on the Times' web site. If Collins is serious about corrections, she should correct her own error about this. But then again, if Collins were serious, the whole editorial page wouldn't be big enough for the corrections box required to capture all the Angry Left lies of the Times' pundits. Here are a couple recent candidates from the Krugman Truth Squad member who blogs as "EU Rota":
No doubt something more than "frightened imaginations" is at work in the Times' accelerating incidence of egregious errors and humiliating corrections. Times reporters, columnists and editors probably hear the ring of truth in even the most absurd errors, so long as they serve to discredit the Bush administration. As long as that bias exists, the errors will keep on happening. And in that case, the best hope for truth is that they will be publicly corrected. So Collins' new policy for columnist corrections is a step in the right direction. Let's hope against hope that she really means it. Update... Robert Musil weighs in, and he's not optimistic. Update 2... And here's Pundit Review's take, on their spiffy new website. Posted by Donald L. Luskin at 12:08 PM |
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