I’m Serious: We’re Finally Getting Serious
May 12, 2010
The fiscal policy terrain is shifting radically—and rapidly. Europe’s response to the Greek crisis combines debt and enforced austerity. In the UK, the official Conservative/Liberal Democrat coalition agreement states that “deficit reduction and continuing to ensure economic recovery is the most urgent issue facing Britain” and commits to a “significantly accelerated reduction in the structural deficit over the course of a Parliament” (that is, between now and 2015).
Forget About “The New Middle East.” Israel Belongs To The First World, And Its Neighbors To The Third.
May 11, 2010
Everybody actually knows that. “The new Middle East” is a psychedelic fantasy of the perennially intoxicated peace processors. The dream will go on forever. And maybe it will be punctuated positively a tiny bit by practical arrangements on the ground.
The British Election Was All About Immigration
May 11, 2010
Many observers are wondering why the Conservatives failed to gain an outright majority in last week’s elections. After all, Labour has been in power for thirteen years, Gordon Brown is deeply unpopular, and the budget is in crisis. Moreover, David Cameron worked hard to modernize and moderate the Conservative party, and despite a surge after the first debate, the Liberal Democrats scored only a modest gain in the popular vote and actually lost five seats. The answer is starting us in the face, and it’s disturbing: the Tories fell short because the right-wing anti-Europe, anti-immigrant partie
The Only Really Good News For The American Economy Is The Rise Of The Dollar. Have A Wonderful Time In Europe This Summer.
May 07, 2010
Actually, the insolvency of Greece also made rough waves in America. Shortly before 3 p.m., the major stock indices (S & P, Dow and NASDAQ) were about to register 10% southwards. Not good news. And the fact they all ended the market day at roughly 3.5% down was only relatively good news, very relatively. This was not a good week for Wall Street. Of course, it was a disastrous week for Greece, which, mirabili dictu, avoided default only because the professional Eurocrats in Brussels and in other boring cities where “Europe” is headquartered went into hysterics.
The Prisoner Intellectuals
May 05, 2010
The key to understanding radical Islam and Communism? Prison culture.
April 29, 2010
These are obviously dark days for the Roman Catholic Church. For over a decade, the U.S. church has been assailed by abuse charges and devastated by the resulting litigation. The Vatican used to console itself with the belief that this was a peculiarly American crisis, but, this year, similar abuse cases have arisen all over Europe—most agonizingly in Ireland, one of the world's most faithfully Catholic countries. Across the continent, bishops are facing demands to resign, while critics are urging Pope Benedict himself to consider standing down.
April 28, 2010
For most of the 2.5 million years that humans and their predecessors have been around, the Earth has been a volatile place. Subtle shifts in the planet’s orbit have triggered large temperature swings; glaciers have marched across North America and Europe and then retreated. But, about 10,000 years ago, something unusual happened: The Earth’s climate settled into a relatively stable state, global temperatures started hovering within a narrow band, and sea levels stopped rising and falling so drastically.
April 21, 2010
The words most often used by the heads of oil companies to describe the boom are “revolution” and “game changer.” Industry historian Daniel Yergin calls it “the shale gale.” Admittedly, serious questions remain as to whether shale gas will pass the ecological test—critics say it can’t be extracted safely in proximity to groundwater, and the EPA is engaged in a two-year study of extraction techniques.
Iceland’s Volcanic Fury Hobbles Hubs
April 20, 2010
That the Icelandic volcano that has shut down much of Europe’s air travel has ripple effects around the globe is well known. A recent article in the New York Times quotes the Center for Asia Pacific Aviation saying: "The Ash Attack has already affected the travel plans of eight million passengers in Europe and around the world. The total cost for the aviation industry (airlines, airports, suppliers, freight operators, handlers, etc.) could be well over $2 billion." But what U.S. metros are impacted the most? Reports abound about delays from Chicago to Orlando and Miami.
Between the Potency and the Existence
April 20, 2010
The Letters of T.S. Eliot: Volume 1 (1898–1922) Edited by Valerie Eliot and Hugh Haughton (Faber and Faber, 871 pp., £35) The Letters of T.S. Eliot: Volume 2 (1923–25) Edited by Valerie Eliot and Hugh Haughton (Faber and Faber, 878 pp., £35) In these two volumes we find more than 1,600 pages of letters and T.S. Eliot is not yet forty.