No overriding urge to do any in-depth analysis today. Instead, here are a few short comments on various happenings:
Roberts Hearings
I haven't watched the Roberts hearings. I try to avoid long-winded speeches by the likes of Leahy, Kennedy, Schumer, Durbin and Biden. On the other hand, some of the transcripts have been funny. It looks like they tried on the first day to get Roberts to make a slip or two that they could attack throughout the hearing. When that didn't succeed, they settled down to making speeches for their constituents. At least they'll have some sound bites for their fund-raising efforts!
Bush's Speech to the UN
I'm looking for the transcript, but Bush apparently made an impressive powerful speech to the UN yesterday, but unfortunately, the coverage seems pretty spotty. The Tribune put it on the front page next to the car bombing news from Iraq. The adage being that any good news for Bush must be balanced by any bad news available. Noticeably absent from their front page was the success the Iraqi military and the US troops had at Tal-Afar:
http://fallbackbelmont.blogspot.com/2005/09/tal-afar.html
The tribune did have an article on the actions at Tal Afar, but it largely ignored the more strategic implications of what Tal Afar means, and the way in which it bolsters the US's chances at succeeding in Iraq.
http://www.chicagotribune.com/news/nationworld/chi-0509110459sep11,1,2899637.story
Inflation or not??
As Larry Kudlow describes it, Inflation does not seem to be a problem. However, the recent rise in the price of gold does indicate that there should be some readiness to respond in case it keeps rising. Like Kudlow, I look at gold and commodity prices as a key indicator in whether or not current monetary policy is inflationary or not. Certainly, the price of gold and other commodities in the late 90's showed that we were in a deflationary period. Unfortunately, Mr. Greenspan chose not to notice those clear cut signs and instead focused in on what he described as the "irrational exuberance" of the stock market. Let's hope that his replacement sticks more closely to classical economics.
http://lkmp.blogspot.com/2005/09/objective.html
Roberts Hearings
I haven't watched the Roberts hearings. I try to avoid long-winded speeches by the likes of Leahy, Kennedy, Schumer, Durbin and Biden. On the other hand, some of the transcripts have been funny. It looks like they tried on the first day to get Roberts to make a slip or two that they could attack throughout the hearing. When that didn't succeed, they settled down to making speeches for their constituents. At least they'll have some sound bites for their fund-raising efforts!
Bush's Speech to the UN
I'm looking for the transcript, but Bush apparently made an impressive powerful speech to the UN yesterday, but unfortunately, the coverage seems pretty spotty. The Tribune put it on the front page next to the car bombing news from Iraq. The adage being that any good news for Bush must be balanced by any bad news available. Noticeably absent from their front page was the success the Iraqi military and the US troops had at Tal-Afar:
http://fallbackbelmont.blogspot.com/2005/09/tal-afar.html
The tribune did have an article on the actions at Tal Afar, but it largely ignored the more strategic implications of what Tal Afar means, and the way in which it bolsters the US's chances at succeeding in Iraq.
http://www.chicagotribune.com/news/nationworld/chi-0509110459sep11,1,2899637.story
Inflation or not??
As Larry Kudlow describes it, Inflation does not seem to be a problem. However, the recent rise in the price of gold does indicate that there should be some readiness to respond in case it keeps rising. Like Kudlow, I look at gold and commodity prices as a key indicator in whether or not current monetary policy is inflationary or not. Certainly, the price of gold and other commodities in the late 90's showed that we were in a deflationary period. Unfortunately, Mr. Greenspan chose not to notice those clear cut signs and instead focused in on what he described as the "irrational exuberance" of the stock market. Let's hope that his replacement sticks more closely to classical economics.
http://lkmp.blogspot.com/2005/09/objective.html
posted by Alan | 9:21 AM
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