I don’t have a lot of time for writing today, but before I didn’t have time, I had a bit for reading. So, I’m passing along two columns I read this morning that are both pretty interesting. The first is by Walter Russell Mead about the top 10 things we’ve learned from the financial crisis. It’s good, and I agree with almost all of it. We certainly do live in interesting times.
The world economy is like a person with a bad stomach flu; that horrible sick feeling keeps coming back. In 2008 it was mortgage-backed bonds and the failure of Lehman Brothers; last year it was the worst recession since the 1930s; this year it’s the European financial crisis. We still don’t know where this is going; there is plenty of good news out there. The National Association of Business Economists is upgrading its growth forecast for the US in 2010; China remains strong; the IMF is upgrading its growth forecasts worldwide. On the other hand, some of the world’s smartest investors are buying gold like there was no tomorrow, there is talk about a new global meltdown, and the world’s financial markets seem ready to plunge on the slightest whiff of bad news.
The second is a piece on Pajamas Media pointing out that the Mexican President’s pants are on fire. One thing I’ve learned through my study of history: always be very scared when politicians want to take away the citizen’s guns. It all comes down to power and money.
President Calderon’s assertion that Mexico has seized around 75,000 guns and assault weapons in the last three years — and that more than 80 percent of them came from the United States — is a bald-faced lie. It simply is not remotely connected to the truth.