The Conspiracy to Keep You Poor and Stupid is a trademark of Donald L. Luskin

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Republicans and the Populist Temptation
Wall Street Journal
February 9, 2010
Why Taxing Stock Trades Is a Really Bad Idea
Wall Street Journal
January 6, 2010

Krugman Truth Squad logo, courtesy Tom Miller, Atomic Art: admin@atomicart.com

Peter Sellers and Peter Bull in ''Dr. Strangelove'' Columbia Pictures, 1964 -- Click to order!

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Donald Luskin."
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-- Paul Krugman

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-- Charlie Gasparino

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The Happy Body
Aniela and Jerzy Gregorek

What I'm listening to:
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Langley Schools Music Project

What I'm watching:
cover
Star Trek

What I'm playing:
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Speed Racer

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Copyright 2002 thru 2009
Donald L. Luskin
don-at-luskin-dot-net
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"The Conspiracy to
Keep You Poor and Stupid"
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Donald L. Luskin
www.poorandstupid.com

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"The road is cleared," said Galt.
"We are going back to the world."
He raised his hand
and over the desolate earth
he traced in space
the sign of the dollar.

From Atlas Shrugged
by Ayn Rand

From each as they choose,
to each as they are chosen.

From Anarchy, State and Utopia
by Robert Nozick

"there is some shit I will not eat"

From i sing of olaf glad and big
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Chronicle of the Conspiracy
Join us as we discover, document, expose and challenge the bad people, the bad institutions and the bad ideas that stand in the way of wealth creation -- and show you how to fight back!

Friday, March 27, 2009

KUDLOW REPLAY   Here's the YouTube video of tonight's hit:


Posted by Donald L. Luskin at 10:21 PM | link  


Wednesday, March 25, 2009

KUDLOW REPLAY   Here's the YouTube video of Friday's hit.


Posted by Donald L. Luskin at 4:27 PM | link  


Sunday, March 22, 2009

THIS "MAP OF SCIENCE" INCLUDES A PSEUDO-SCIENCE   Do you see it? It's at about 11 o'clock. Learn more.


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

THIS IS HOW YOU KEEP FROM WASTING A GOOD CRISIS   ...if you're a sociopath like our new president, you just treat it all as a joke:
President Barack Obama said he believes the global financial system remains at risk of implosion with the failure of Citigroup or AIG, touching off “an even more destructive recession and potentially depression.”

His remarks came in a “60 Minutes” interview in which he was pressed by an incredulous Steve Kroft for laughing and chuckling several times while discussing the perilous state of the world’s economy.

“You're sitting here. And you're— you are laughing. You are laughing about some of these problems. Are people going to look at this and say, ‘I mean, he's sitting there just making jokes about money—’ How do you deal with— I mean: explain. . .” Kroft asks at one point.

“Are you punch-drunk?” Kroft says.

“No, no. There's gotta be a little gallows humor to get you through the day,” Obama says, with a laugh.

Thanks to Jameson Campaigne.

Posted by Donald L. Luskin at 8:57 PM | link  

UNDERSTATEMENT OF THE DAY   But at least it's a statement. From no less surprising a source than Jared Bernstein, union tool and now advisor to Joe Biden, concerning the House bill to tax bonuses at 90%:
"I think the president would be concerned that this bill may have some problems in going too far — the House bill may go too far in terms of some — some legal issues, constitutional validity, using the tax code to surgically punish a small group," Bernstein said in a television interview. "That may be a dangerous way to go."
Thanks to Perry Eidelbus.

Posted by Donald L. Luskin at 5:45 PM | link  

INNUMERACY, AND BLIND TRUST IN EXPERT SOURCES   Reader Morgan Collins sends this in:
You seem to like examples of innumeracy and economic illiteracy from the main stream media. Here's one from this week's Newsweek, by Fareed Zakaria:
Take the steel industry. The Peterson Institute for International Economics estimates that the "buy American" provision will result in an increased domestic production of about 0.5 million metric tons of steel every year. Unfortunately, steel is a highly mechanized industry, as are most manufacturing industries in the United States. The boost in production will translate into 1,000 jobs, which in a labor force of 140 million is insignificant. America's steel industry exports 9 million metric tons of steel every year. Even if 1 percent of those exports were lost because of retaliation by other countries—a very conservative assumption—that would result in 6,500 jobs being lost in the same industry.
So, if I read Zakaria correctly, ADDING 500,000 metric tons of steel production CREATES 1,000 jobs. (500 metric tons/job)

LOSING 90,000 metric tons (1% of 9 million) LOSES 6,500 jobs. (13.8 metric tons/job)

Quite an inflection point. And good editing at Newsweek!

Zakaria is right to defend free trade and to be concerned about protectionism during the economic downturn, but does anybody read this stuff before they go to press? Better question, does anybody read it at all?


Posted by Donald L. Luskin at 5:38 PM | link