J. Bradford DeLong's Blog, page 2223

August 22, 2010

Why Oh Why Can't We Have a Better Press Corps?

Before Ross Douthat started writing for the New York Times, he was (almost always) interesting, (usually) smart, and rarely bats--- insane.



Now...



Outsourced to Dana:




Who are you callin’ unassimilated?: Douthat gets some pushback on his earlier post concerning assimilation.   His argument was simply that he thinks that bigotry can be justified because it, like procedural liberalism, helps immigrants assimilate. It looks bad when you state it like that without running it through the...

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Published on August 22, 2010 19:58

There Is No "Bond Bubble"

The Taylor Rule And The 201CBond Bubble201D (Wonkish) - Paul Krugman Blog - NYTimes.com



Long-term Treasury bond prices are about where they ought to be: they consist of a normal duration discount, plus a valuation term because they are a hedge against today's extra large risk of (some forms of) macroeconomic disaster, plus the standard expectations of future federal funds rate terms, plus a term for lowered long-term inflation expectations in the future.



Paul Krugman:




The Taylor Rule And The “Bond Bubble”: Here’s a thought for all those insisting that there’s a bond...

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Published on August 22, 2010 16:06

I See No Pass Here...

I understand that "Grant's Pass" is the name of a town on the I-5 in southern Oregon. But where is the real Grant's Pass? I see nothing like a pass here...





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Published on August 22, 2010 15:55

Biplanes Above I-5...

That is all.





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Published on August 22, 2010 11:29

August 21, 2010

Henry Hudson, Eat Your Heart Out!

The northwest passage is open!





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Published on August 21, 2010 20:06

Winston Churchill Liveblogs World War II: August 22, 1940

Former Naval Person to President Roosevelt:







I am most grateful to you.... I had not contemplated anything in the nature of a contract.... [W:]e had decided in Cabinet to offer you naval and air facilities off the Atlantic coast quite independently of destroyers or any other aid. Our view is that we are two friends in danger helping each other as far as we can....





Although the air attack has slackened in the last few days and our strength is growing in many ways, I do not think...

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Published on August 21, 2010 17:27

Eleanor Roosevelt Liveblogs World War II: August 21, 1940

Eleanor Rooseelt:







My Day by Eleanor Roosevelt, August 21, 1940: My first stop yesterday morning was at the WPA office in New York City, where WPA interviewers are accepting applications from people now on WPA who wish to be allowed to take a training course in one of the New York City training schools. The Board of Education also checks the information which each individual gives. Fifty percent of the people taking these courses come from WPA and there are, of course, a great many...

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Published on August 21, 2010 16:46

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