J. Bradford DeLong's Blog, page 2264
July 3, 2010
Restrictions on Immigration as Violations of Natural Law
Rhomas Jefferson;
He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands...
Department of "Huh?!": I Do Not Think Stephen Williamson Knows What He Is Doing Department
Stephen Williamson on the employment picture:
Stephen Williamson: New Monetarist Economics: let's not be too hasty.... I looked at the 12-month growth rates in unadjusted establishment employment.... [T:]his looks more innocuous. Employment growth is still negative (just barely) year-over-year, but it is coming back strongly, and faster than was the case during the last recession. Conclusion: How you filter the data matters a lot. There is no reason you should trust my year-over-year...
Department of "Huh?!": Stephen Williamson Doesn't Know What He Is Doing Department
Stephen Williamson on the employment picture:
Stephen Williamson: New Monetarist Economics: let's not be too hasty.... I looked at the 12-month growth rates in unadjusted establishment employment.... [T:]his looks more innocuous. Employment growth is still negative (just barely) year-over-year, but it is coming back strongly, and faster than was the case during the last recession. Conclusion: How you filter the data matters a lot. There is no reason you should trust my year-over-year...
"All the News That's Fit to Print," Feh! Fire Bill Keller--or Shut Down the New York Times Today--Your Choice
Why oh why can't we have a better press corps?
Does anybody think Bill Keller should run the New York Times? Anybody? Anybody? Bueller?
Emptywheel:
Bill Keller Suppresses American Tradition of Opposition to Torture: When asked by NYT’s own media reporter about the NYT’s refusal to use the word torture, Bill Keller could barely exert himself to say more than the official press statement. Here’s what the spokesperson gave to Michael Calderone....
[The paper:] has written so much...
Liveblogging World War II: July 3, 1940
General Halder's diary:
3 July 1940: The most pressing problems at the moment are England and ... the East. As regards the latter, the main question is how to deal Russia a military blow which will force her to recognize Germany's preponderant role in Europe...
July 2, 2010
links for 2010-07-02
Jackie Calmes: Spend or Scrimp? Two Sides in White House Debate
Daily Kos: Stephen Colbert comes to John Boehner's defense
Duncan Black Is Shrill
DB: "I take no pleasure in being proved f------ right (and, who knows, things could change), but it seems economy...
And Daniel Gross on the Failure of Stimulus II
Daniel Gross:
The State of Washington: Last week, I argued that the Federal Reserve doesn't seem to care much about high unemployment. Apparently, very few other people in Washington do, either.... Congress is adjourning without extending unemployment benefits, in large measure due to repeated Republican filibusters. On Thursday, President Obama gave a major address about … immigration reform. All this on the eve of a jobs report that showed the economy lost jobs in June.... The economy...
Why Can't Anybody Play This Game? Macroeconomic Policy Department
Jackie Calmes reports on the White House's line wobble...
Since the summer of 2008, at least, the correct line on economic policy has been:
The economy suffers from a shortfall of aggregate demand
The Federal Reserve cannot compensate using its normal tools
We therefore need extra stimulative policies--and since we really do not know which ones will be most effective, we need to be trying everything: qualitative easing, other non-standard expansionary monetary policies, stimulative...
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