Thursday February 26, 2015
February 19th, 2015
We've seen senior discounts for buses. We've seen senior discounts at movie theaters. We've seen senior discounts in supermarkets.
Most make some sense, helping businesses attract older customers at slow times when others are working. What makes no sense whatsoever is applying senior discounts to economic policy.
At least President Obama has broken the ice on Cuba, but let it not stop there. It is time to leave our bully role behind.
After nearly 14 years of war in the Middle East, President Obama's pitch to Congress for authorization to continue it conforms with his own defined purpose -- eventually to end America's "perpetual war footing" that began under his predecessor, George W. Bush.
Monetary policy probably won't be a major issue in the 2016 campaign, but it should be. It is, after all, extremely important, and the Republican base and many leading politicians have strong views about the Federal Reserve and its conduct. And the eventual presidential nominee will surely have to endorse the party line.
So it matters that the emerging Republican consensus on money is crazy - full-on conspiracy-theory crazy.
"The Gilded Age was not a golden age," says Tom Perez,the U.S. labor secretary. "America works best when employers and employees work together" - as they did not during the Gilded Age of the late 19th century and have not during the neo-Gilded Age we are stumbling through today.
Quick. What's your state song?
I know. It's okay.
Nobody knows state songs.
New research has found that patients make almost no unreasonable requests for medical treatment, undermining the tendency by doctors to blame higher health-care costs on the demands of those getting treatment.
Sweden has fired another salvo in the escalating currency wars by joining Denmark, Switzerland and the European Central Bank in introducing negative interest rates. As this battle intensifies, some market soothsayers are starting to whisper about capital controls as a possible nuclear option for central banks determined to win the race to the bottom of foreign-exchange rates.
In hindsight, the tip-off that Brian Williams was making up that story about getting shot at over Iraq in 2003 was that he seemed to think it was something to brag about in the first place.