Ragged Clown

It's just a shadow you're seeing that he's chasing…


There must be something good to say about them

The news that the manufacturing activity is at its lowest level since 1980

U.S. factory activity contracted sharply in October, falling to its lowest in 26 years as the financial crisis ravaged the world’s largest economy, an industry report showed on Monday.

…made me wonder…

There must be some index or indicator which shows that we are better off after 8 years of Republican rule.

I can’t think what it is though.



5 responses to There must be something good to say about them

Matt Stave November 3, 2008

Well, perhaps not “we”


Do you think presidents have much control over the economy? More than congress?

Kevin November 3, 2008

Ah – the military-industrial complex. Can never have too much of that.

BTW – I meant my question sincerely, not snarkily. There MUST have been something good.

To a certain extent, the pres sets the agenda on the economy, even if Congress does all the legwork. But didn’t the pubbies run congress for most of the last 8 years too?

Matt Stave November 3, 2008

>But didn’t the pubbies run congress for most of the last 8 years too?

I don’t think the economy turns on a dime, (so to speak), but WRT your metric about specific things like factory activity, I’d be surprised if the data didn’t show things getting worse since the dems took over congress.

Again, though – trying to assign blame for big events like The Recent Economic Unpleasantness is problematic. Annoying as he is, Taleb’s black swan idea seems instructive here


I think I pestered you to read his book earlier this year.

Jeffrey Fredrick November 5, 2008

“Black swan” is a way to say “no one is to blame”, but it isn’t appropriate because there’s nothing unprecedented about financial meltdowns. That’s why we have regulations.

Rob November 5, 2008

The lack of regulations on a lot of the activities that caused this particular meltdown are pretty remarkable. Listening to explanations of how money moves around financial institutions in our economy makes you realize that it amounts to legalized high stakes gambling with other people’s money.

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