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August 2017

Comment of the Day: Sans Souci: They Have Been Attacking Nancy Pelosi for an Awfully Long Time, Haven't They?: "Yes...Pelosi...and that hippie Comrade V.I. Krugman!...here's a classic Brooks oldie from the back rack: http://www.weeklystandard.com/the-pelosi-democrats/article/3168

David Brooks: The Pelosi Democrats: Are they going to become the stupid party?: "ARE THE DEMOCRATS about to go insane?...http://www.weeklystandard.com/the-pelosi-democrats/article/3168

...Are they about to decide that the reason they lost the 2002 election is that they didn't say what they really believe? Are they about to go into Paul Krugman-land, lambasting tax cuts, savaging Bush as a tool of the corporate bosses? Are they about to go off on a jag that will ensure them permanent minority status in every state from North Carolina to Arizona?

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They Have Been Attacking Nancy Pelosi for an Awfully Long Time, Haven't They?

Hoisted from 2007: Why Oh Why Can't We Have a Better Press Corps? (Yet Another New York Times Edition) http://www.bradford-delong.com/2007/01/why_oh_why_cant_3.html: David Brooks says Nanci Pelosi is some kind of hereditary plutocrat, like George W. Bush:

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Worth Highlighting from January 2007 at Grasping Reality

Continue reading "Worth Highlighting from January 2007 at Grasping Reality" »


Should-Read: There never was any reason to imagine in mid-2013 that the U.S. economy was close to full employment—never any reason for the Bernanke Fed's pivot toward withdrawing stimulus:

Equitable Growth: Jobs Day Graphs: July 2017 Report Edition: "Earlier this morning, The U.S. Bureau of Labor Statistics released new data on the U.S. labor market during the month of July... http://equitablegrowth.org/equitablog/equitable-growths-jobs-day-graphs-july-2017-report-edition-2/

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Paul Gigot of the Wall Street Journal Predicts the Failure of Clintonomics: A Historical Document from 1993

Preview of Paul Gigot of the Wall Street Journal Predicts the Failure of Clintonomics A Historical Document

Paul Gigot of the Wall Street Journal Predicts the Failure of Clintonomics: A Historical Document from 1993 http://www.bradford-delong.com/2007/07/a-historical--1.html: One evasion in Ken Auletta's piece on the Wall Street Journal stands out: his quoting without comment of Norman Pearlstine's claim that Paul Gigot “was a first-rate reporter...

He was not.

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Ten Years Ago and Seven Days Ago at Grasping Reality: July 28, 2007

Worth Highlighting:

  • A Historical Document: Paul Gigot of the Wall Street Journal Predicts the Failure of Clintonomics: One evasion in Ken Auletta's piece on the Wall Street Journal stands out: his quoting without comment of Norman Pearlstine's claim that Paul Gigot “was a first-rate reporter...”. He was not. http://www.bradford-delong.com/2007/07/a-historical--1.html

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Procrastination on August 4, 2017

We re All Public Intellectuals Now The National Interest

Over at Equitable Growth: Must- and Should-Reads:

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Live from the Orange-Haired Baboon Cage: Alexandra Erin: Whoo. Okay: "Lot of stuff happening but I'm going to dig into this 100% bonkers interview transcript from the WSJ...https://twitter.com/alexandraerin/status/892844946855571456

I'm doing this for two reasons. One is that the whole thing is absolutely banaphone. Cellular, modular, interactivodular. Two is that ever since I picked up the trend of periodicals backing their Trump articles with ~lightly edited for clarity~ transcripts, I have been praying that someone would leak the unexpurgated version of one of them, and it would be rude to ignore an answered prayer...

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Open Letter from 1470 Economists (Including Me) on Immigration

Statue of liberty Pesquisa Google

Open Letter from 1470 Economists (Including Me) on Immigration http://www.newamericaneconomy.org/wp-content/uploads/2017/04/NAE-Economist-Letter-April-2017.pdf: Dear Mr. President, Majority Leader McConnell, Minority Leader Schumer, Speaker Ryan, and Minority Leader Pelosi:

The undersigned economists represent a broad swath of political and economic views.

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Live from the Orange-Haired Baboon Cage: Dan Murphy: @bungdan on Twitter: "Trump lies in past 24hrs: https://twitter.com/bungdan/status/893132371842613250

  1. Didn't win NH.
  2. Doesn't have unilateral intl tariff power.
  3. US not taking 2,000 or 5,000 refugees from Oz.
  4. Turnbull conversation not cordial.
  5. Boy Scout president didn't call.
  6. Mexican president didn't call.
  7. 21 Club didn't shut for a year.
  8. Mexican president didn't praise Trump.
  9. Praise for Trump Boy Scout speech not universal.
  10. Trump privately admitted Mexico would never 'pay for the fucking wall.'
  11. Syrian Christians were not banned from US by Obama.
  12. The Cuban Mariel boat-lift refugees were not all "brutal convicts."
  13. The US did, in fact, "get things" out of START and Iran deal.

Non-Monday Self-Smackdown: Gerard Baker Says the WSJ News Staff Will Go the Extra Mile Not to Call Trump's Lies Lies

If Gerard Baker really thinks going the extra mile to be an obsequious courtier to Trump is a way for him to build trust that the WSJ news pages are and are "seen as objective", he is wrong. But I really do not believe Gerald Baker thinks that is the case:

Gerard Baker (January 4, 2017): Trump, ‘Lies’ and Honest Journalism: "Why editors should be careful about making selective moral judgments about false statements... https://www.wsj.com/articles/trump-lies-and-honest-journalism-1483557700

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Comment of the Day: Sans Souci: Wall Street Journal honcho Gerard Baker [unprintables] Donald Trump...: "Murdoch errand boy Gerard 'Costanza' Baker...It's not a lie if Trump believes it... wall-street-journal-honcho-gerard-baker-unprintables-donald-trump-i-do-won.html

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Live from the Green Frog Cage: Yes, Nicholas Nassim Taleb has lost his mind—if he ever had a mind. Why do you ask?

I hereby apologize to Professor Beard, on behalf of all non-deplorable people who are, ever have been, or ever will be interested in academic finance:

Mary Beard: Roman Britain in Black and White – TheTLS: "It got worse after Nicholas Nassim Taleb weighed in, not on my side... https://www.the-tls.co.uk/roman-britain-black-white/

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Must-Read: So are we now to read the leak of the WSJ Trump interview transcript was some WSJ staffer undercutting editor-in-chief Gerry Baker's claim that his relationship with Trump is that of a "normal journalist", rather than that of an obsequious courtier and ideological ally?

It would seem so...

Joe Pompeo and Hadas Gold: Gerry Baker to staff: Criticism of Wall Street Journal's Trump coverage is 'fake news': "He said there's been 'a lot of nonsense appearing in the media about how unreliable our reporting is'... http://www.politico.com/media/story/2017/02/gerry-baker-defends-wsj-trump-coverage-004931

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Must-Read: That's it. I'm calling this one for Nancy MacLean in Nancy MacLean versus the critics of her book Democracy in Chains on the rise of right-wing Public Choice.

I think she gets a number of things wrong, but she gets the big thing about it right:

Steve Horwitz: MacLean on Nutter and Buchanan on Universal Education: "Finding examples of misleading, incorrect, and outright butchered quotes and citations in Nancy MacLean’s new book... http://bleedingheartlibertarians.com/2017/06/maclean-nutter-buchanan-universal-education/

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Yes: The CBO's Growth Forecasts Are Not Unreasonable...

The Trump administration (I won't say "Donald Trump", because I am not convinced that Donald Trump knows what the Congressional Budget Office is) wants people to take on the CBO's projections that real GDP growth is likely to average a hair less than 2 percent per year.

And professional Republicans John Cogan of Stanford, Glenn Hubbard of Columbia, John Taylor of Stanford, and Kevin Warsh of Stanford deliver.

Michael Strain provides them with a warning—which they do not and will not heed:

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Procrastination on August 2, 2017

We re All Public Intellectuals Now The National Interest

Over at Equitable Growth: Must- and Should-Reads:

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Live from the Orange-Haired Baboon Cage: Wall Street Journal honcho Gerard Baker [unprintables] Donald Trump.

I do wonder why this isn't sufficient for a unanimous-cabinet Amendment 25 solution. And Wall Street Journal honcho Gerard Baker doesn't look too sharp and competent either:

Josh Dawsey and Hadas Gold: Full transcript: Trump’s Wall Street Journal interview: "President Donald Trump called his son-in-law a 'good boy' while thanking Wall Street Journal editor-in-chief Gerard Baker for a positive editorial... http://www.politico.com/story/2017/08/01/trump-wall-street-journal-interview-full-transcript-241214

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