Senior officials of the Federal Reserve now warn that the United States faces a Japan-style deflation and a prolonged period of stagnation like Japan’s “lost decade” of the 1990s. TheNew York Times’ website reports: On Thursday, James Bullard, the president of the Federal Reserve Bank of St. Louis, warned that the Fed’s current policies were putting the American economy at risk of becoming “enmeshed in a Japanese-style deflationary outcome within the next several years.” … Continue Reading »
On visiting San Francisco in 1968, Tom Wolfe stumbled across what he describes as a “curious footnote to the hippie movement.” Doctors at the Haight-Ashbury Free Clinic were treating diseases, Wolfe claims, that no living doctor had ever encountered before: “diseases that had disappeared so long ago they had never even picked up Latin names, diseases such as the mange, the grunge, the itch, the twitch, the thrush, the scroff, the rot.” … Continue Reading »
As one member of Solidarnosc said to me with some bitterness in 1990, “If you socialized the Sahara, in two years people would be lining up to buy sand.” In fact, most of those associated with the early years of Solidarnosc”the great Polish liberation movement SolidarIty”had had all the collectivism, socialism, government-controlled economy, nanny state, and thugocracy they could stomach… . Continue Reading »
One does wonder sometimes about God’s ways with his most devoted servants. Several years back, Father James Schall, S.J., one of the greatest of American Jesuits and the living embodiment of Catholic liberal learning at Georgetown, was struck by an illness that cost him an eye. This summer, Father Schall is recovering from some nasty surgery, which involved removing a cancerous jawbone and its attendant teeth and replacing the jaw with bone taken from Schall’s leg… . Continue Reading »
A scruffy man, tanned and good-looking, dressed in an old leather jacket and snug jeans, is on a motorcycle zipping through a neighborhood near you. He’s a restaurateur into “local” everything, a man whose produce vendor is one among many sexy women who want to hook up with him. He was also, years ago, a sperm donor who, unbeknownst to him, achieved reproductive success… . Continue Reading »
For a long time as a young teacher, I believed the danger of prostituting their minds by believing falsehoods was the preeminent, or even singular, intellectual danger my students faced. So I challenged them and tried to teach them always to be self-critical, questioning, skeptical. What are your assumptions? How can you defend your position? Where’s your evidence? Why do you believe that? … Continue Reading »
If Pakistan’s intelligence service continues to plot terrorist attacks with the Taliban in Afghanistan, as the mass of documents released yesterday by Wikileaks allege, who is responsible for covering this up for so many years? The answer, I argue in this morning’s Asia Times Online, is everybody… . Continue Reading »
In the early spring months of 1950, the city of New York witnessed an outbreak of juvenile delinquency. Late at night, prowling gangs were stealing those iconic Department of Sanitation iron-mesh trash cans from New York’s street corners”and local newspapers at the time were in a dither… . Continue Reading
One of my favorite Christian authors, writing about the Christianity of his day, said that popular faith is “like a farmer who needs a horse for his fields; he leaves the fiery stallion on one side, and buys the tame, broken-in horse… . Continue Reading
“Intelligence,” both in the national security as well as the ordinary sense of the term, is limited by the culture from whence it stems. Dana Priest’s and William Arkin’s Washington Post account of chaos in the American intelligence community, “A Hidden World, Growing Beyond Control,” has prompted a round of finger-wagging at both the Bush and Obama administrations… . Continue Reading »
