We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
The Decline and Fall of Our So-Called Degreed Experts ... Most economists lectured that trade deficits did not really matter.
Misleading. While most economists say that some deficit spending is necessary to increase the money supply as the economy grows, or to respond to emergencies, few believe that very high deficits are economically healthy. Very high deficits undermine the value of U.S. debt holdings, mean increasingly large portions of the budget have to go for debt service, reduce funds available for old age benefits as the population ages, and make it harder to borrow in the event of a real emergency.
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So, the result of Trump's foolhardy tariff talk would be an impending recession.
Misleading. It was draconian tariffs that most economists thought would lead to a recession. However, Trump backed away, at least temporarily, from his tariff threats. The talk, as if you could believe the American president to tell the truth, rattled markets, but they quickly adjusted once Trump delayed the tariffs.
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After all, if tariffs were so toxic and surpluses irrelevant, why did our affluent European and Asian trading rivals insist on both surpluses and protective tariffs?
Misleading. The average EU tariff on US goods was about 3%.
It was always free trade versus fair trade. The 'woke' economists never did understand the 'giant sucking sound' resulting from free trade. The middle class sure did. The credentialed class loved the export of anything even remotely 'dirty' to save the 'not in my back yard environment'.
Saturday Miscellany ... Now, in the latest news, the family has lost its appeal and a judge has allowed the deportation to proceed.
The government had threatened the Soliman family with immediate deportation. The case was moved to the immigration system for regular deportation proceedings, which allows the family due process, so the judge dropped the emergency order. The family has argued the deportation is intended to unconstitutionally punish them for Soliman's actions.
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Mamdani’s anti-Semitism resonates with today’s Democratic Party.
Mamdani's has condemned anti-Semitism, the Oct 7 attacks on Israel as a war crime, and the right of Israel to exist with equal rights for all. It is possible to be against Israel's actions and not be anti-Semitic.
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In America, 92% of Republicans and 24% of Democrats are proud to be Americans.
Gallup: 92% of Republicans, 53% of Independents, and 32% of Democrats are extremely or very proud of America.
Democratic and Independent pride in America has slipped since Trump's election, many decrying his constant lying, seeing his actions as bullying other nations including friends and allies, and seeing his concentration of executive power as dangerous to liberty. Republican pride has increased over the same period.
John Carter has something much more intelligent to say about the effects of AI on the universities than does Niall Ferguson:
https://barsoom.substack.com/p/the-class-of-2026
I agree with John Carter that AI is helping to destroy institutions that have decayed beyond any possibility of reform. I say let AI drive the final nail in the coffin of academia. John Carter's view on AI is much more optimistic than Niall Ferguson's, and I agree with it.
Socrates was skeptical of writing. As his student, Plato, related:
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If men learn this, it will implant forgetfulness in their souls; they will cease to exercise memory because they rely on that which is written, calling things to remembrance no longer from within themselves, but by means of external marks. What you have discovered is a recipe not for memory, but for reminder. And it is no true wisdom that you offer your disciples, but only its semblance, for by telling them of many things without teaching them you will make them seem to know much, while for the most part they know nothing, and as men filled, not with wisdom, but with the conceit of wisdom, they will be a burden to their fellows.
Before the printing press was invented, literate people had knowledge of just a few texts, from which they could often recite, and which others would easily recognize. These include the Bible, Homer's Iliad, and the Arthurian legends.
After the printing press, people might have shelves and shelves of books. An avid reader might scan their collection and take down something that appears interesting, but the wealth of books being so great, they can't quite remember whether they've read it before or not.