Splendid week last week at Ashland teaching in the summer MAHG program, but that left
no time for blogging. Now to catch up.
The Friday jobs number sucked. Does it mean we're heading for a double-dip? I don't know. But John Hussman thinks so
, and the dense account at the link seems pretty persuasive, even if it is hard to follow in a few places. (I had lunch with Hussman once many years ago in New York, were he walked me through a pile of charts demonstrating complete command of the economic scene.)
Driving back to DC yesterday on the back roads of Ohio and Pennsylvania and West Virginia I saw lots of signs of stagnation and decay, which contrasts sharply with the view that one sees as one approaches the Beltway: lots of gleaming new office buildings, and many more expensive cars on the road. No wonder the DC establishment doesn't get it. Or maybe it does: Washington prospers now because, like imperial capitals of old, it sucks the wealth of the periphery to itself.
Oh yeah, one last rant. It was not lost on me that I transited West Virginia yesterday on the same day as Robert Byrd's funeral. One line from President Obama's eulogy jumps out for its unintentional indictment of Byrd: "Making life better here was his only agenda." How nice for West Virginia. What about the rest of the nation? I thought senators (and House members) were supposed to have some notion of the national interest in mind at some point, and not just view their jobs as maximizing their raids on the federal treasury to bribe voters back home.