A Vast Silence

The New York Times ran a story that took Burt Likko’s breath away in outrage when he read it last night. But apparently, he’s pretty much the only one.

Stocks collapse, threaten to go even lower than our opinion of Congress

Here’s Krugman: It’s not the whole story, but something like this threatens to develop: 1. US debt is downgraded, sparking demands for more ill-advised fiscal austerity 2. Fears that this austerity will depress the economy send stocks down 3. Politicians and pundits declare that worries about US solvency are the culprit, even though interest rates…

The Car & The City

by Trumwill Peak Oil has been right around the corner for decades. Global warming requires a response that is going to make energy – oil in particular – more expensive. Commuters and drivers are subsidized with general funds. The solution to all of this is, of course, to stick it to the commuters. It’s nothing…

Still Puzzled by This One

David Brooks, yesterday: In the state capitalist world there are government-run enterprises like Gazprom, Petrobras, Saudi Aramco, Petronas, Petróleos de Venezuela, China National Petroleum Corporation and the National Iranian Oil Company. These companies create wealth for the political cliques, and they, in turn, have the power of the state behind them. With this advantage, state…