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

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Media Infiltrations:

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!

"What has been your worst blogging experience?
Donald Luskin."
-- Brad DeLong

"That's a guy who actually stalks me on the Web and once stalked me personally."
-- Paul Krugman

"I'm saying this...guy's a jerk."
-- Charlie Gasparino

What I'm reading:
cover
The Happy Body
Aniela and Jerzy Gregorek

What I'm listening to:
cover
Langley Schools Music Project

What I'm watching:
cover
Star Trek

What I'm playing:
cover
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"
and "Krugman Truth Squad"
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Donald L. Luskin
www.poorandstupid.com

Logo by Tommy Carnase 1995

"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
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"there is some shit I will not eat"

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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, December 18, 2009

JUST IN TIME FOR CHRISTMAS   Use this handy tool to decide what religion to follow, just in case you don't already know. Thanks to Scott Grannis.

Posted by Donald L. Luskin at 9:43 AM | link  

FALLACY SQUARED   Paul Krugman commits a fallacy of composition while citing the fallacy of composition!

Posted by Donald L. Luskin at 9:41 AM | link  


Thursday, December 17, 2009

THE RESULTS ARE IN!   The indispensible TimesWatch has the winners for worst New York Times quotes of the year. Again, I was one of the judges -- here's my pick:
Don Luskin, chief investment officer of Trend Macrolytics LLC and publisher of The Conspiracy to Keep You Poor and Stupid, picked the paper's double standards on unions, which are vital institutions -- for other businesses. For the New York Times itself? Not so much:
The argument against unions -- that they unduly burden employers with unreasonable demands -- is one that corporate America makes in good times and bad....The real issue is whether enhanced unionizing would worsen the recession, and there is no evidence that it would. There is a strong argument that the slack labor market of a recession actually makes unions all the more important. -- Editorial from Dec. 29, 2008

vs.

The New York Times News Service will lay off at least 25 editorial employees next year and will move the editing of the service to a Florida newspaper owned by The New York Times Company....The plan for the news service calls for The Gainesville Sun, whose newsroom is not unionized and has lower salaries, to take over editing and page design. -- Richard Perez-Pena, Nov. 13, 2009.

Luskin said this double standard “expresses the fundamental hypocrisy of the Times as an elite institution that tries to establish its institutional legitimacy by attacking elite institutions.”

For all the worst quotes from 2009, visit Times Watch.


Posted by Donald L. Luskin at 7:49 AM | link  


Wednesday, December 16, 2009

BECAUSE WE WANT TO DISCOURAGE COLLEGE STUDENTS AND PROMOTE RETIRED UNIONIZED CITY EMPLOYEES?   My DC-insider friend "Mick Danger" files this report -- ominous, considering that Obama said in his campaign that free college tuition should be a right.
Here’s a new one. The mayor of Pittsburgh, Luke Ravenstahl, wants to tax college students to support retired city employees.

It would be a graduated (ahem) tax, punishing the best and the brightest the most because that fits with class warfare:

The tax, which would take effect as early as July, would range from about $20 a year for students at cheaper schools like the Community College of Allegheny County to just over $400 for students at the city’s priciest university, Carnegie Mellon.
Hello, Pittsburgh? You might want to re-run your projections with the Laffer Curve in mind.

The new acceptances at Carnegie Mellon score well in math and are highly likely to say “yes” to Hopkins or MIT or CalTech. But what do you care about retaining vitality at one of the world’s greatest universities when you’ve got to make good on the excessive, unfunded promises made by previous Democratic mayors to the unionized city workers? OH, right, you can’t say no to the unions ‘cause they own you.

Politically, Mr. Ravenstahl risks few votes in leaning on universities for revenue because college students rarely vote in local elections. And many of the constituencies that supported Mr. Ravenstahl’s re-election in November have been vocally supportive of his tax plan.

“This is a turning point for us,” said Joe King, president of the Pittsburgh firefighters’ union. He said that after Miami-Dade County in Florida, Allegheny County has the second largest number of seniors of any county in the United States and that in his union alone he has 900 retirees and 450 surviving spouses whose pensions need to be financed.

“Without the tax, the fate of those pensions could be in trouble,” he said. “We are not asking young people to carry more than their due. We’re just asking them to pay for what they use.”

Hey, let’s see that You Tube video on public employee unions again:


Posted by Donald L. Luskin at 10:00 PM | link  

GOOGLING THE UNEMPLOYMENT RATE   From VoxEU:
In a recently published article, Ginsberg et al (2009) develop a simple model forecasting physician visits due to influenza-like illness using only the related query fraction on total queries as recorded by the Google search engine data, available weekly with a short delay.

Following the popularity of the internet as a means for searching for jobs (Stevenson, 2008), this approach has recently been extended to unemployment forecasting. In particular, the Google Index – the incidence of Google job-search related queries over total queries – proved to have predictive power in forecasting unemployment in Germany and Israel (see Askitas and Zimmermann 2009 and Suhoy 2009). Choi and Varian (2009) use the Google Index to predict the initial unemployment claims in the US.


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