Made in America

Stimulus disappointment

Sad really

If this description is correct, the stimulus bill will be a real disappointment. As I pointed out in an earlier post, economic theory — Milton Friedman’s theory! — suggests that if we want stimulus funds spent, they should go to people in temporary economic difficulty who are likely to be liquidity-constrained. But it appears that most of the measures that would do that — benefits to the unemployed, food stamps, aid to state and local governments — are being bargained away. Even the tax credit is apparently not fully refundable, so those who need it most, and are most likely to spend it, won’t get the full amount.

You can blame the Bush administration, whose hostility to helping those in need is now getting in the way of good economic policy. But I’m also disappointed with the Democratic leadership, for not standing up more forcefully.

Damn the democrats are weak. Check this out:

An agreement was near after Pelosi dropped her bid for additional unemployment benefits and food stamp funding in exchange for a rebate providing all income-earners at least $300, said two congressional aides familiar with the talks. Boehner had opposed giving a rebate to the poorest workers who don't pay any income taxes.

The proposal under discussion would give larger rebates to those who pay income taxes, and families with children would get an extra $300 per child, subject to a cap that is still being discussed, the aide said.

Poorly performing pugilist, pockets probably paid

Reid's ridiculousness

Can someone explain to me why Harry Reid, after letting the Republicans get away with silient filibustersnow takes a firm stand and is making Democrat Dodd actually have to filibuster the FISA bill? Thankfully Dodd will filibuster it until the retroactive immunity for telecoms is removed.

Classic Fondue

Recipe

1 small garlic clove, halved

1 cup dry white wine

3/4 pound Gruyère cheese, grated

3/4 pound Emmenthaler, raclette or Appenzeller cheese, grated

1 1/2 tablespoons cornstarch

1 to 2 tablespoons kirsch (optional)

Kosher salt, to taste

Freshly ground black pepper, to taste

Freshly grated nutmeg, to taste (optional)

Crusty bread cubes; steamed broccoli or cauliflower; carrot, celery or fennel sticks; cubed apple; seedless grapes; clementine sections; cubed salami, soppressata or kielbasa; roasted chestnuts and/or dried apricots, for serving.

1. Rub cut side of garlic on inside of large Dutch oven or heavy-bottomed saucepan, preferably cast iron, rubbing the bottom and halfway up the sides. Add wine and bring to a simmer over medium-high heat.

2. Meanwhile, in a large bowl, toss cheeses with cornstarch. Add a handful at a time to simmering wine, stirring until first handful melts before adding next. Reduce heat to medium and stir constantly until cheese is completely melted. Add kirsch, if using, and heat until bubbling, about 1 to 2 minutes. Season with salt, pepper and nutmeg, if desired. Serve with crusty bread and other accompaniments.

Yield: 6 main course servings or 10 appetizer servings.

False statements preceded war

About 935 of them, apparently

Another big shocker, I know. It is interesting to have it quantified, however. Bush (259) was the biggest transgressor with Colin Powell the second (244).

Big shocker...

Antidepressant Studies Unpublished

The makers of antidepressants like Prozac and Paxil never published the results of about a third of the drug trials that they conducted to win government approval, misleading doctors and consumers about the drugs’ true effectiveness, a new analysis has found.

In published trials, about 60 percent of people taking the drugs report significant relief from depression, compared with roughly 40 percent of those on placebo pills. But when the less positive, unpublished trials are included, the advantage shrinks: the drugs outperform placebos, but by a modest margin, concludes the new report, which appears Thursday in The New England Journal of Medicine.

Previous research had found a similar bias toward reporting positive results for a variety of medications; and many researchers have questioned the reported effectiveness of antidepressants. But the new analysis, reviewing data from 74 trials involving 12 drugs, is the most thorough to date. And it documents a large difference: while 94 percent of the positive studies found their way into print, just 14 percent of those with disappointing or uncertain results did.

Nobody is immune

Don’t Cry for Me, America

Mexico. Brazil. Argentina. Mexico, again. Thailand. Indonesia. Argentina, again.

And now, the United States.

The story has played itself out time and time again over the past 30 years. Global investors, disappointed with the returns they’re getting, search for alternatives. They think they’ve found what they’re looking for in some country or other, and money rushes in.

But eventually it becomes clear that the investment opportunity wasn’t all it seemed to be, and the money rushes out again, with nasty consequences for the former financial favorite. That’s the story of multiple financial crises in Latin America and Asia. And it’s also the story of the U.S. combined housing and credit bubble. These days, we’re playing the role usually assigned to third-world economies.

Bio-pheromone weapons

Pentagon working on a fear bomb?

New Jersey Represent!

N.J. Closes Death Row

I love the internet tubes

Some interesting BBC podcasts on philosophy

Core bullsh*t issues

US approves animal clones as food

Why am I reading this in a UK newspaper?

I wonder if labels will be required, most assuredly not. Perhaps now is a good as time as any to go veggie.

[update] looks like the USDA thinks it is not a good idea to be serving choice clone-loin just yet.

and to be fair, this story is getting some play in the US media

and it looks like I was right, labels won't be required

American theocracy

Where is William Shatner when you need him:



I wish Huckabee would just follow the prime directive and leave us alone.

Jimmy Carter speaks out

I Got What America Needs Right Here

Way I see it, America needs a president who's gonna somehow un-royally screw up the Middle East, do some serious cleaning up after you dropped your pants and took a steaming dump all over the fucking environment, and—boom!—restore dignity, honor, and all that shit to these United States.

See, I got solutions to all your problems—I got 'em right here in my big, hairy ballsack.

Michigan democrats for Romney

Affective forecasting

Hardballs

Socialism!

Tales of Europe's Death have been greatly exaggerated

I remember about 7 years ago talking with a guy working in a bank that focused on corporate takeovers and he told me that in 100 years the Dutch would be sowing things for the Indonesians, or something of that sort. That the well-fare state of Europeans, while nice now, wouldn't and couldn't last. My gut feeling was that he lacked an appreciation of balance. I still feel that way.

I can't wait until this truth percolates into the US discourse. I think the Sicko documentary might have been a wakeup call (French people aren't all lazy, jobless, and smelly!) but would like to see more discussion like this.

Or, what I meant to say, "Love it or leave it, Krugman!"

GOP 2008: I Love This Fight!

Tweety is as annoying as ever, but there is a bit of schadenfraude here enjoying this fight of fiscal conservatives versus social conservatives. It is about time that alliance fissured, and I love Huckabee, Romney, and Giuliani for providing the perfect candidates for it!

Good ol' Rove

Knows how to touch those racial hot buttons for his base

You couldn't help but smile. It reminded Democrats what they occasionally like about her. Then Mr. Obama followed with a needless and dismissive, "You're likable enough, Hillary."

Her remarks helped wash away the memory of her angry replies to attacks at the debate's start. His trash talking was an unattractive carryover from his days playing pickup basketball at Harvard, and capped a mediocre night.
...
Mr. Obama has failed to rise to leadership on a single major issue in the Senate. In the Illinois legislature, he had a habit of ducking major issues, voting "present" on bills important to many Democratic interest groups, like abortion-rights and gun-control advocates. He is often lazy, given to misstatements and exaggerations and, when he doesn't know the answer, too ready to try to bluff his way through.