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- Beat to the PunchYesterday
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A colleague and I were just joking about the new issue of Time magazine, the cover of which teases a story on Gaza with the headline "Why Israel Can't Win." The story itself is titled "Can Israel Survive Gaza?" Jeffrey Goldberg apparently had the same reaction we did:
Which one will last longer: Israel, or Time magazine? I'm betting on Israel.
- Hamas in Their Own WordsYesterday
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The video above, courtesy of MEMRI, shows the leaders of Hamas discussing their hopes and dreams: the annihilation of Israel, the Jews, America, and Europe. At one point about half way through you can even catch the message of extermination being translated into sign language -- presumably for the benefit of those whose hearing has been stolen by the Zionist, imperialist, occupying crusaders.
- Hey, Just in Case You Didn't Know, Barack Obama Loves Disabled PuppiesJanuary 7
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Speaking of Obama portraits, I couldn't help but think the cover of the latest American Dog, which features Barack Obama and a three-legged dog named Baby who was rescued from a puppy mill:
Wouldn't this make a wonderful official portrait for the 44th president? It would symbolize a clean break with a certain former puppy-hating president. Perhaps it would even fulfill Obama's pledge to restore "restore our moral standing" in the world.
- Big TroubleJanuary 6
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Martin Wolf, who wrote the book on our current economic troubles, has a thought-provoking and extremely worrying column in the Financial Times. Everyone should read it. Here's the basic argument:
We are in the grip of the most significant global financial crisis for seven decades. As a result, the world has run out of creditworthy, large-scale, willing private borrowers. The alternative of relying on vast US fiscal deficits and expansion of central bank credit is a temporary – albeit necessary – expedient. But it will not deliver a durable return to growth. Fundamental changes are needed.
Which might be a problem. Because:
What makes rescue so difficult is the force that drove the crisis: the interplay between persistent external and internal imbalances in the US and the rest of the world. The US and a number of other chronic deficit countries have, at present, structurally deficient capacity to produce tradable goods and services. The rest of the world or, more precisely, a limited number of big surplus countries – particularly China – have the opposite. So demand consistently leaks from the deficit countries to surplus ones.
In times of buoyant demand, this is no
- Happy Hour LinksJanuary 6
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Ross Douthat on just war and modern warfare.
Nancy Pelosi abolishes term limits for committee chairmanships.
Jeb Bush won't run for Senate in 2010.
Obama predicts "trillion-dollar deficits for years to come."
Gallup reports that a majority of Americans think Burrris should be blocked.
Arlen Specter blasts AG nominee Eric Holder.