Taking on Titan after Titan in His Address to the Nation
Bank bailout? Auto bailout? Health care reform? Education reform? Ending the Iraq war? Total security review? International diplomatic push?
Is there any major, explosively controversial issue that Obama has not promised to tackle in his “State of the Nation” address? One particularly interesting aspect of Obama’s address is that he does not shirk from criticism at all. He takes the arguments of his strongest critics, calls them out, and rebuts then. This is not what recent American Presidents, especially the last one, have done.
In many ways, it was another fireside chat. It was another “Good Morning, America.” I think the media and blogosphere has described it as both at this point. He was blunt and treated Americans as fellow stakeholders, instead of obstacles to be dealt with.
But many of the points he made were also in his speech at the Fiscal Responsibility Summit that came before this particular speech. My feelings on his chosen set of Titans—and he’s chosen almost every single one—is that Obama is over his head. (more…)
Posted on February 25th, 2009
Filed under: Politics, Society by James Wang
Hoping for Plan Behind the “Stress Test”
I’m really hoping that the Obama Administration’s recently announced “stress test”—where they will simulate Great Depression conditions by computer and see what would happen to each major bank in that scenario—is just an excuse to nationalize the banks.
I’m really hoping that the Obama Administration doesn’t ACTUALLY naively think that despite a wide consensus about the lack of soundness in these banks (and more significantly, the market’s complete lack of faith in them), that these banks will come out of the stress test even close to looking like they’re ready for such conditions. Or even solvent at all.
I’m hoping that since they are expecting it, they should have a plan (which has been curiously absent so far). (more…)
Posted on February 23rd, 2009
Filed under: Economics, Politics by James Wang
Finally, A Rational Voice on Aid Policy
Source: NASA
The New York Times recently did a very interesting interview with a certain Dambisa Moyo on aid policy to Africa. She’s apparently an ex-Goldman Sachs banker who is trying to stop aid from being sent to Africa. The New York Times is calling her the “anti-Bono.”
She makes, in my opinion, a valid point that’s long overdue in getting coverage.
In response to what she feels had held back Africa:
“I believe it’s largely aid. You get the corruption — historically, leaders have stolen the money without penalty — and you get the dependency, which kills entrepreneurship. You also disenfranchise African citizens, because the government is beholden to foreign donors and not accountable to its people.”
Long overdue. Besides the points which she made, there’s also the issue of American and European farm policy (which is inseparably linked to aid policy) impoverishing Africa by wholesale annihilation of its agricultural sector. I wrote about this issue of farm policy in the Dartmouth Free Press (which is where the link goes) and other blogs, though haven’t gotten around to doing so here yet. Don’t worry, though, I intend to give you all an earful on it soon.
Regardless, it’s always rather ironic that so many of the things we do out of “kindness” turn out to be so terribly harmful in reality. The Law of Unintended Consequences, or perhaps of Good Intentions. Economics is sometimes counterintuitive. But sometimes, tough love is really the right thing to do.
I really wish American politicians begin to understand that someday.
Posted on February 22nd, 2009
Filed under: Economics, Politics by James Wang
Rich-World Snobbishness vs. Real-World Poverty
People who know me can tell you that I don’t like Greenpeace.
It isn’t to say that I don’t find their grab-bag of causes important. It’s simply their methods, with the sensationalism, deliberate distortion of scientific facts, and knee-jerk reactionary conservatism (because it certainly isn’t progressive) that annoy me to no end.
However, there is one cause, above all others, that has caused me to personally hate the organization. GMOs, or genetically modified organisms (food in this case). (more…)
Posted on February 2nd, 2009
Filed under: Politics, Science & Tech by James Wang
