The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Irish Debt Woes

Not a Greece-style crisis, but not good news, either: Ireland’s efforts to pull out of a deep economic slump suffered a setback Monday when a major credit agency downgraded the country’s bond rating, citing a weak banking system and rising debt. Moody’s Investors Service downgraded Ireland one notch, to Aa2 from Aa1, although it remains […]

British Chocolate Millionaire’s Hedge Fund Buys 241,000 Tons of Cocoa Beans

A real-life Willie Wonka: Anthony Ward, 50, bought 241,000 tons of cocoa beans and now owns enough to manufacture 5.3 billion quarter-pound chocolate bars. Mr Ward, who is worth around £36 million, holds so much of the market he could force manufacturers to raise the price of Britain’s favourite chocolate bars . . . The […]

Incredible: Joe Biden Blames Republicans for Failure of Obamanomics

Ed Morrissey calls this a “flat-out horsecrap lie”: “Was the $862 billion stimulus too small? It probably would have been bigger, Vice President Joe Biden said, if it weren’t for Republican opposition in early 2009.” Hey, whatever happened to blaming Rahm Emanuel?

Democrats Have Their Economic Excuse Ready: Blame Rahm Emanuel!

Paul Krugman is the de facto leader of those neo-Keynesians who say the problem with Obamanomics is that the stimulus package wasn’t big enough. And he links to this interview with Rep. David Obey (D-Wisc.) who points the finger at Rahm: The problem for Obama, he wasn’t as lucky as Roosevelt, because when Obama took […]

It’s FDIC Failed-Bank Friday!

How’s that “recovery summer” workin’ out for ya? Regulators on Friday shut down three banks in Florida, two in South Carolina and one in Michigan, bringing to 96 the number of U.S. banks to succumb this year to the recession and mounting loan defaults. . . . With 96 closures nationwide so far this year, […]

Ezra Klein Admits: ‘It Won’t Work’

“Notice that adding new jobs at a rate of 200,000 a month would take us 150 months — or 12.5 years — to get back to normalcy. So far, only April has seen more than 200,000 in non-census jobs growth — and even then, just barely.” — Ezra Klein, July 16, 2010 Hmmm. Dow Jones […]

Economic Ignorance Syndrome

Professor William Jacobson takes a closer look at the latest poll numbers. What’s shocking is that, according to the WaPo/ABC poll, 20 percent “strongly approve” of Obama’s handling of the economy. Which means that the editors need to fix headline on the article: Study finds 1 out of 5 Americans exhibit brain-damage symptoms

Americans Realize It Won’t Work

The failure of Obamanomics becomes obvious: A pair of new polls find that with less than four months until the midterm elections, Americans’ confidence in President Obama’s handling of the economy continues to crater. A new Washington Post/ABC News poll finds that just 43 percent approve of Obama’s handling of the economy, with 54 percent […]

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