Chronicle of the Conspiracy
Friday, May 26, 2006PAUL KRUGMAN DECLARES The candidate of the Angry Left -- the one who will make Hillary Clinton able to run as a moderate -- has been announced by Paul Krugman in the New York Times today. It's Al Gore, because of "...his earnestness, and his genuine interest in facts, numbers and serious analysis. ...Mr. Gore is the sort of person who ought to be running the country."
Posted by Donald L. Luskin at 11:09 AM | link
Thursday, May 25, 2006SMELLS LIKE VICTORY Or as reader Jon Redden put it, "Every time a tax gets repealed, an angel gets his wings." Indeed. Today the Treasury Department announced it has given up trying to enforce the illegal telephone excise tax, and intends to give all taxpayers refunds with interest. We blogged about this illegal tax several months ago, and devoted a SmartMoney.com column to -- stimulated by the visionary Jim Glass of the Scrivener.net blog.
Hey -- I told you John Snow wasn't such a bad guy. It just took him a while, that's all.
Posted by Donald L. Luskin at 12:55 PM | link
Wednesday, May 24, 2006AND SPEAKING OF DOMESTIC ENERGY PRODUCTION... Iowa Senator Chuck Grassley can teach Hillary Clinton a thing or two about pandering to the ethanol lobby, as she has done with her call for energy independence based on domestic non-petroleum sources. From Hotline OnCall:
"I say to Senator Clinton, 'welcome to the club.' We'll be happy to update her on the pro-ethanol laws we've enacted without her vote. If Senator Clinton is a born-again ethanol supporter, let's hope she has the zeal of a convert as she begins promoting ethanol and other renewable fuels."
Posted by Donald L. Luskin at 10:24 AM | link
ISN'T IT OBVIOUS? My Washington-based lawyer/lobbyist friend (anonymous as always) is scratching his head about opposition to increasing domestic petroleum production:
So, if folks are upset at the price of gasoline, we should conserve more, produce more and not add needlessly to cost... which means we should let prices deter consumption, invite new investments in supply and not pick favorites such as corn-based, government-mandated ethanol which is protected from all competition...
Posted by Donald L. Luskin at 9:37 AM | link
Monday, May 22, 2006DISCOUNTING KRUGMAN Our friend Jim Glass, who blogs at Scrivener.net, writes in with an interesting view on Paul Krugman's claim that Joe Lieberman is pushing "administration lies" about Social Security:
Regarding Krugman's latest denial of Social Security's problems we might remember back when Krugman wrote:"The Bush tax cuts, not the retirement programs, are the main reason why our fiscal future suddenly looks so bleak .... the revenue that will be lost because of the Bush tax cuts ... would have been more than enough to 'top up' Social Security and Medicare, allowing them to operate without benefit cuts for the next 75 years."Yes, absent the tax cuts there would have been more than enough revenue to run SS and Medicare for 75 years. This at the same time as GAO was projecting, using pre-Bush, no-Bush-tax-cuts, year 2001 numbers, that deficits would reach 20% of GDP around 2045 (and be rocketing upward) due to the cost of Medicare and SS, ending its 75-year projection then because it was implausible that government could exist beyond that point.
Posted by Donald L. Luskin at 10:44 PM | link
McGOVERN DEFENDS WAL-MART George McGovern (yes, George McGovern), speaks common sense in today's Los Angeles Times (yes, the Los Angeles Times).
Many of my friends will consider this view heretical. But it is based on stark reality...Thanks to reader Dave Duval for the link.
Posted by Donald L. Luskin at 1:13 PM | link
SULZBERGER'S ADVICE TO GRADUATES: "READ NEWSPAPERS" And don't forget to patronize our loyal advertisers, either. Arthur Sulzberger, Jr., inheritor of the title "publisher" of the New York Times, according to the Daily Freeman of the State University of New York at New Paltz (where?), told the graduating class "to engage themselves, read newspapers, know the world, neighborhoods, and stand up for America's democracy."
But that sales message was just the closer. The thrust of Sulzberger's speech was a steaming bucket of White Guilt -- a plea for institutional legitimacy by abasing one's self for the sins of one's race and class:
"I will start with an apology," Sulzberger told the graduates, who wore black gowns and hats with yellow tassels. "When I graduated in 1974, my fellow students and I ended the Vietnam War and ousted President Nixon. OK. OK. That's not quite true. Maybe there were larger forces at play.Yep. This is the lunatic whose views infuse the spirit of the world's leading newspaper.
Thanks to TimesWatch for the link.
Posted by Donald L. Luskin at 11:20 AM | link
Sunday, May 21, 2006KRUGMAN BLASTS LIEBERMAN FOR TELLING THE TRUTH Paul Krugman's column today attacks Joe Lieberman for, among other things, repeating an "administration lie."
According to the Social Security Trustees' Annual Report, 2006, Table IV.B5: the system's unfunded obligation stands now at $4.934 trillion. According to the same table from the previous year's report, it was $4.318 trillion. Thus the growth from year to year was $616 billion. Krugman may dispute the meaning or accuracy of this figure on technical grounds, but there is simply no way he can look at the numbers and characterize Lieberman's statement as an "administration lie." If anything, it was an "administration understatement."
Update... Greg Mankiw agrees.
Update 2... Foolwise has a different angle.
Posted by Donald L. Luskin at 11:34 PM | link
THE LANGUAGE OF SUCCESS Harry Reid says it's "racist" to make English our nation's official language. Okay. Then it must be racist to want to get rich, too.
Posted by Donald L. Luskin at 1:16 PM | link