Addicted to $timulation

Although they say that the economy is healthy, the administration also now says that we must stimulate it immediately with $150 billion. This is like your doctor saying you're healthy but adding, hey, since you're in the office, why don't I give you a shot of adrenalin right in the heart. To the trillions given away in the last tax cut, add the trillion dollars spent on Iraq, and you've got a mountain of unpaid expenses. Like a 'nightcap' after a night of binge drinking, another $150 billion won't make a huge difference either way.

Politicians in both parties are always happy to give away money. They only argue about who should get it. There is no reason to trust this administration to design a stimulus package that won't make things worse. The problem with any stimulus package, even one agreed upon by both parties, is that our current situation is a consequence of the 6 years of continuous, strong economic stimulus we've already had. Maybe any stimulus will only delay the inevitable day of reckoning.

Basic macro economics says the next step is inflation, maybe rampant inflation. Our advantage over third world economies is that our debt is denominated in our own currency. Inflation actually helps the debtor, so long as they can pay with inflated currency. Fortunately, the the new bankruptcy laws, which benefit the lenders, don't apply to us as a nation.

Re- Baathification?

The Iraqi Parliament shook off its stupor long enough to pass a law allowing former (?) Baathists, the Party ruled by Saddam Hussein, to join the government. This law replaces a 'de-Baathification' law in place since the US invasion. Sounds to me like re-Baathification. Since this administration is so fond of comparing Hussein to Hitler, maybe they can explain why we should have encouraged West Germany to allow former (?) Nazis to join the government in the late 1940s.

'Hormuz' is Iranian for 'Tonkin'

Bright blue speedboats with no sign of weapons 'attack' in broad daylight in the Straight of Hormuz off the Iranian coast. Oh, scary! The sailor on the 'coalition' warship asks over the radio for the 'unidentified' boats to state their intentions.

Maybe they forgot their sunscreen and just wanted to ask the nice sailor boys to share.

Mr. Olmert, Tear Down this Wall!

Israel built a wall, over 400 miles long and up to 24 feet high, to protect Israeli settlements from angry Palestinians. This wall also separates Palestinian towns from one another, making normal commerce and community impossible. This is the Palestinians' “Wailing Wall”, a potent symbol of their oppression. The wall constitutes a major impediment to achieving lasting peace.

If Bush had any courage, he would echo Reagan's demand of the Soviet leader Gorbachev that he remove the Berlin wall. Bush would challenge the Israelis to live up to the promise of their state and maintain a hope for peace. Don't hold your breath. More likely the Republican candidates will propose to contract the Israelis to build a wall between the US and Mexico.

Universities On-line, Off-course

MIT offers its full catalog of world class course material for free over the Internet. Apple iTunes offers free downloads of hundreds of lectures by professors from dozens of universities. This is a wonderful trend that will bring many of the fruits of learning to everyone, everywhere. But what will it mean for the major universities if students find a course posted by a community college prof better than the ivy's offerings? This is almost inevitable, since top universities choose profs based on their research grants, not teaching skills. Soon, the only purpose of the major “bricks-and-mortar-board” universities will be to serve as venues for class reunions and home for basketball and football games.

Universities should exploit the value of their brand before it disappears. Here are some naturals: the University of North Carolina sponsors a NASCAR entry, Texas brands beef, Notre Dame backs Lucky Charms, Florida promotes a sports drink (done that), the University of Southern California recommends, um, defense lawyers.