Matt Ulman

Frankly, I’m not sure how wonkish the debate about this article is, but it’s both hilarious and disturbing.   The fact that our press, the people who are supposed to keep us safe from abuse, can’t even understand first-year concepts makes me fear for the future.  This from a source that isn’t supposed to be biased and claims some knowledge of the subject (Business and Economics Editor).  From the mainstream source of The Letter from Birmingham Jail.

And the best part is that she continues to be wrong in the comments of this story.  Very, very wrong.  Treating savings like it only counts if you have a passbook, not as an economic concept that can be positive or negative… that’s what the average person on the street would do, but it’s no way to lead a technical debate.

My immediate take on this contrast was, Bush is really gone.

It’s not supposed to be about politics in a crisis like this, but getting us out of this means that we frame the debate a certain way, and that is politics. His turning attention to people doing the right thing, and asking that we do the right thing, rather than distracting us with some sort of feel good circus (not to take anything away from Sullenberger et al) makes me think we might have a chance.

Really, how does something like this get published? He doubts the multiplier and uses as proof the fact that consumption declined during WWII. I’ll admit to not having first hand knowledge, but I’m fairly certain there were programs in place to limit personal consumption during the war. Rationing, etc, and we weren’t borrowing from abroad, we were borrowing from us. Anyone who’s watched It’s a Wonderful Life knows more about what went on during the war than this guy.

I’m afraid this is correct.

Ask yourself how many $700 hammers does it take to make up for this.  I’ve got a WPA for you, one that will make kids proud to be American,  right here.

1) Plunge

I just got a letter from Vanguard assuring me that their Money Market Funds are safe.

People are worried about their money market funds… and rightly so.

We’re off the map.