Our Side

“Those who agree with us may not be right, but we admire their astuteness.” 1Cullen Hightower

Footnotes   [ + ]

1. Cullen Hightower

Another Trillion

A trillion here, a trillion there, pretty soon you’re talking about real money. 1Paraphrased from the original Everett Dirksen quote

Footnotes   [ + ]

1. Paraphrased from the original Everett Dirksen quote

Theory of Rational Expectation

OK, so Congress passed the bailout (and about $150 billion of pork) and the stock market continues to tank. Could it be that fear, not tight credit, is fueling the market? Did it help that both presidential candidates said that this is the worst financial crisis since the Great Depression? Do the cries of the media help the situation?

The Theory of Rational Expectation in economics says that the economy will follow the expectations of the population. Are we expecting the economy to tank?

Recent Thoughts

I’ve been trying to decide what to make of Barack Obama’s acceptance speech a week ago Thursday before the Democratic National Convention.

First let me say that I thought the speech was dynamite. Obama is a first class orator and he was superb in his delivery. And even though he was criticized by some for lack of detail in his plans, I thought he had plenty of detail for an acceptance speech.

Like others, my first view of Obama was during his keynote address to the DNC in 2004. His message of “were all Americans” was inspiring. I thought, “This guy is destined for great things in politics.” I admired his bent to statesmanship instead of the same old party politics that punctuates most political activities. Good idea. Let’s cooperate and accomplish the stuff that America needs. Let’s all do it together.

Four years later and some of the idealism and statesmanship have been traded for the politics of getting elected. I understand the need for this, yet I long for the old Obama. And I don’t hold this against him. I hope, that if he is elected, he can return to his place as one who calls for us to rise above ourselves for the good of America.