Archive for August 9th, 2010

Wasn’t suing Arizona supposed to help Obama with Hispanics ?

August 9, 2010

Oops … According to Gallup, President Obama’s ratings have slipped among Hispanics … 

click chart to enlarge

image

http://www.gallup.com/poll/141725/Blacks-Whites-Continue-Differ-Sharply-Obama.aspx

As President Obama turns 49 … courtesy of the late shows.

August 9, 2010

Letterman: The president is 49 years old, but it’s never a good sign when your age is higher than your political approval rating.

Leno: They got him a huge cake. He didn’t blow out the candles, he just taxed them until they gave up on their own.

Fallon:  Today was President Obama’s birthday. All the Democrats were like “How old are you now,” while the Republicans were like “And where were you born?”

Why is economics called the dismal science?

August 9, 2010

According to conservative economist Thomas Sowell:

Economics was christened the dismal science because it deals the allocation of scarce resources with inescapable constraints and painful trade-offs, instead of more pleasant, unbounded visions and their accompanying inspiring rhetoric, which many find so attractive in politics and in the media.

Moreover, economics follows the unfolding consequences of decisions over time, not just what happens in the very short run. That is, economics deals as well with second and third-order effects and unintended consequences.

And, economics focuses analytical comparisons against next best alternatives, not idealistic scenarios of perfection.

Source:Applied Economics, Basic Books, 2009