Showing posts with label wall street journal. Show all posts
Showing posts with label wall street journal. Show all posts

Sunday, January 04, 2009

Victims of terror?

"I consider myself a casualty, one of the many casualties of the war on terror"

Who do you suppose said that?  The passengers who were bumped off a flight because they looked like Muslims, and were talking in low voices?  The residents of Mumbai?  

Nah!

It was none other than the former Attorney General, and former White House counsel, Alberto Gonzales.  

Even the Onion could not have come up with this line ..... truth is, certainly, stranger and funnier than fiction.

Tuesday, August 12, 2008

On the road in India

It is extremely difficult for me to relax while travelling in India. Car, taxi, autorickshaw, plane--it doesn't matter. It is too damn stressful. The only travel part I really enjoyed was the train ride from Kollam to Sengottai.

I can, therefore, easily imagine the autorickshaw accident, in the on-going "on the road to India" WSJ blog:

Wednesday, August 06, 2008

Two economists on the rebate checks: you decide!

It was quite hilarious to read in the City Journal that economics has matured into a real science. Oh, really? When exactly did this happen?
Economics is a sophisticated guessing game. No, a good economist is like a good lawyer, and an excellent one will come up with something a la Johnnie Cochran's famous, "if it doesn't fit, you must acquit" argument. Science has excellent predictive abilities--economists can't even agree on what happened in the past, leave alone being unanimous in their predictions!

Want evidence? Here is one.
Context: how successful was the idea of the rebate check that the Congress and the President signed off on, and the money we have all spent? Will it be wise to do another round of rebate?

Paul Krugman's left hook: There is, however, a case for another, more serious fiscal stimulus package, as a way to sustain employment while the markets work off the aftereffects of the housing bubble. The “emergency economic plan” Barack Obama announced last week is a move in the right direction, although I wish it had been bigger and bolder

And Martin Feldstein's right jab: The Tax Rebate Was a Flop. Obama's Stimulus Plan Won't Work Either. All of the evidence on one-time tax rebates implies that the Obama plan to send $1,000 rebate checks would do little to raise consumer spending and stop the decline in employment.

So, who you gonna believe? :-)