Ben Bernanke's Monetary Policy: And Tim Duy Confuses Me Further...
Corey Robin: Libertarianism, the Confederacy, and Historical Memory

Noted for July 19, 2013

  • Ta-Nehisi Coates on the execrable Richard Cohen: The Banality of Richard Cohen and Racist Profiling: "An capricious anti-intellectualism, a fanatical imbecility, a willful amnesia, an eternal sunshine upon our spotless minds, is white supremacy's gravest legacy. You would not know from reading Richard Cohen that the idea that blacks are more criminally prone, is older than the crime stats we cite, that it has been cited since America's founding to justify the very kinds of public safety measures Cohen now endorses. Black criminality is more than myth; it is socially engineered prophecy. If you believe a people to be inhuman, you confine them to inhuman quarters and inhuman labor, and subject them to inhuman policy. When they then behave inhumanely to each other, you take it is as proof of your original thesis. The game is rigged. Because it must be."
  • Kevin Drum: The Housing Bubble Is Dead, Long Live the Housing Bubble: "Well, maybe not everywhere, but in Southern California the good times are definitely rolling again: 'The median home price in Southern California surged a stunning 28% in June compared with a year earlier — outpacing any month during last decade's housing bubble. The gain puts the median at $385,000, up from $300,000 last June. Some experts warn that prices, driven by short supply, should cool off soon....But others see nothing but higher prices ahead, with supply staying tight and buyers scrambling to close deals before the window of affordability slams shut. Syd Leibovitch, founder and president of Rodeo Realty in Beverly Hills, said he expects prices to double from their bottom last year. "You have a lot of room to run," Leibovitch said. "Because historically, they always double in these cycles, and then they drop back a bit."' Yeah, baby! Prices always double during these cycles. You can take it to the bank. Or maybe not. Plenty of the folks interviewed by the Times don't think these prices are sustainable. My instinct says they're right, but all it takes is another few months like June and we'll be back in mega-bubble territory, just waiting for it to burst again and wreck the local economy. Good times."

  • Rich Yeselson: Opinion: Ted Cruz is a legitimate 2016 threat: "What this means is that Cruz embodies the unique parameters of American conservatism, which are considerably different than those of its peer political expressions in other advanced countries. European rightists are far less religious and far more statist than are their American Republican counterparts — no other rightist party in the advanced world, for example, would dream of continuing a relentless, rearguard opposition to universal health insurance. Thus the U.S. Republican base weds a religiously driven cultural anxiety about changes in the norms of gender relationships (in this, the most religious country among the peer democracies) to an ultra-libertarian opposition to taxes; income transfers and other benefits to poor people; and environmental, consumer, and labor regulation of companies. Only in the United States are the libertarian acolytes of Ayn Rand also, unlike the militantly atheist Rand, religiously devout."

Harold Pollack: 30 economists: We need the individual mandate | Evan Soltas: Yellen or Summers: Who'd Be Better at Running the Fed? | Ashok Rao: The End of Employment? Yeah, Just Like “The End of History” | Paul Krugman: Obamacare Is the Right's Worst Nightmare | Klein/Kliff on Part D and the ACA | Justin Fox: The Case for Paying People More |

  • @davidfrum Curious. Somebody has also taken down the YouTube video of Jack Hunter excoriating me.
  • @Nate_Cohn Decline of Detroit in 5 maps: population decline, vacant homes, poverty, home value, segregation
  • @mileskimball In @esoltas's piece on Larry Summer vs. Janet Yellen for Fed chair, @delong and I vote for our mentor Summers:
  • @joshtpmAn update on the relaunch of @TPMPrime