September 11 anniversary, meet Obama's jobs speech. First attack on American soil since Pearl Harbor, meet worst economy since the Great Depression. Day of rememberance, meet forgettable presidential address. A few bold gestures, but no FDR or JFK moment. And nothing on the energy crisis that caused the recession in the first place. Occasion for mourning and humility … [Read more...]
Who’s building the do-it-ourselves economy?
Corbyn Hightower was doing everything right. She worked long hours selling natural skin care products, flying between cities to meet customers, staying in posh hotels. She pulled down a salary that provided her family of five with a comfortable home in a planned community, a Honda SUV, health insurance, and regular shopping trips for the best natural foods, clothes, shoes, and … [Read more...]
An economy beyond jobs: the new normal
In his speech on jobs this Thursday night, President Obama will surely try to win back the six out of ten Americans who think he's handled the economy badly. And he'll probably offer some ideas to pump capital into the economy and create jobs, naturally watered down to offer as little offense as possible to the Tea Party and the US Chamber of Commerce. But given that the US … [Read more...]
Reading the runes of my post-money future
Friday night, while strolling downtown after dinner, my wife and I came upon a young man seated on a Mexican blanket on the sidewalk offering instant readings into the future. I would've kept walking, as it was hot and sticky and I wanted to stroll off a full belly. But Lindsay, a fan of astrology and street entertainment, pulled quickly aside and engaged the busker. Runey … [Read more...]
The shock doctrine hits climate change
"Only a crisis produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around," said free-market saint Milton Friedman. Today, as the world reels from recession, unemployment and civil unrest all while facing an oil shock and worsening symptoms of climate change, Friedman's disciples hope to capitalize on today's … [Read more...]