Friday, March 07, 2003
Is Bush Nuts? War as Religion
Conservative columnist, Georgie Anne Geyer, no neoconservative her, raises the ultimate question: Has GWB gone off the deep end? I suspect there is also a bad case of Foggy Bottom Hubris to explain the unfathomable attitude of the administration.
Conservative columnist, Georgie Anne Geyer, no neoconservative her, raises the ultimate question: Has GWB gone off the deep end? I suspect there is also a bad case of Foggy Bottom Hubris to explain the unfathomable attitude of the administration.
Thursday, March 06, 2003
Why War with Iraq? Follow the Money
The Dollar vs. the Euro? Here is an interesting angle: Iraq in recent months decided to contract for future delivery of its oil in euros, not dolllars. The fiat American dollar greenback serves as the world's reserve currency, essentially since Bretton Woods and more particularly since 1971, and its acceptance gives the U.S. a free ride in a variety of ways. The euro is the creature of Germany's conservative central bank and the european common market (sans the United Kingdom) and -- in theory at least -- contends to serve the same purpose as the dollar as a reserve currency. The last time the Arab world rejected the dollar as the standard for the pricing of oil was about 1974 when it noticed that the dollar had depreciated violently against gold. The result was not pretty and probably cost Gerald Ford the 1976 election.
The Dollar vs. the Euro? Here is an interesting angle: Iraq in recent months decided to contract for future delivery of its oil in euros, not dolllars. The fiat American dollar greenback serves as the world's reserve currency, essentially since Bretton Woods and more particularly since 1971, and its acceptance gives the U.S. a free ride in a variety of ways. The euro is the creature of Germany's conservative central bank and the european common market (sans the United Kingdom) and -- in theory at least -- contends to serve the same purpose as the dollar as a reserve currency. The last time the Arab world rejected the dollar as the standard for the pricing of oil was about 1974 when it noticed that the dollar had depreciated violently against gold. The result was not pretty and probably cost Gerald Ford the 1976 election.
"The Emperors of Ice Cream" -- Donald Luskin on FTC & Ice Cream on NRO Financial
When the FTC's annoucement hit the news I had a similar reaction to Don. As the old antitrust regulation saying goes: "You let me define the market and I can find a level of concentration which needs a remedy or at least 'strict scrutiny'." Here we have a market defined as the market for "superpremium ice cream"? Where is the dissenting opinion tearing this decision apart?
When the FTC's annoucement hit the news I had a similar reaction to Don. As the old antitrust regulation saying goes: "You let me define the market and I can find a level of concentration which needs a remedy or at least 'strict scrutiny'." Here we have a market defined as the market for "superpremium ice cream"? Where is the dissenting opinion tearing this decision apart?
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