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Irrational America

A Gallup poll suggests that:

(i) 47% of Americans hold the creationist view that God created humans in their present form during the last 10,000 years. Nothing new about this mass delusion either -since 44% held this belief 30 years ago. America has grown only slightly more irrational.

(ii) Only 15% of americans believe in [...]

Are the Republicans Beyond Saving?

This keenly written essay by Elizabeth Drew from the New York Review of Books is worth a read. For democracy to function well in any nation there must be at least two viable political parties who can reach compromises on certain issues and achieve effective government. The Republican Party is now marginalised and operates in [...]

Gun control in the US will fail

One can empathize with “the tears, the thoughts, the prayers and the broken hearts” (a synthesised quote from several newspapers) that Americans are expressing/experiencing in relation to the murder of 26 people in Connecticut. The murders of the 20 mostly 6 or 7 year old school children naturally create a feeling of deep sadness and, [...]

Prices for inequality & civilization

I am reading Joseph Stiglitz’s The Price of Inequality which, as it states, focuses on inequality but provides a more general political-economic critique of US political developments over the past 30 years. Also reading Jeffrey Sacks, The Price of Civilization which emphasises ethical issues but takes up similar themes. The chapter in Stiglitz, “1984 is [...]

Shopping in America

Don’t go to Walmart unarmed.

Signs of a US economic recovery? (612)

US bankrupt?

Several of the Fairfax newspapers ran this op ed by Laurence Kotlikoff. The linked version is superior to the local version because of the valuable IMF hyperlinks it contains. The stalling of the US recovery is no news to anyone who watches international equity markets. The bloodbath over the last few days reflects these fears [...]

China & the US at Copenhagen

China’s is criticising the US in Copenhagen ostensibly because the US is refusing to endorse the developed-countries-alone-must-make-absolute-emissions-cutbacks implication of the soon to be defunct Kyoto Agreement. This is an empty negotiation stance. The Copenhagen meetings are seeking to devise a successor agreement to Kyoto and to rectify the obvious deficiencies of that agreement. Moreover, the [...]

Chinese debt worries

China is ‘worried about’ its $1trillion holding of US Treasury Bills.  The Chinese Prime Minister, Mr Wen, complains that the US has spent too much and saved too little – without mentioning that the consumption boom was funded in large part by Chinese lending.  Mr Wen can’t sell the debt – its price would collapse – [...]