Sep. 3rd, 2009

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Customers Angered as iPhones Overload AT&T
By JENNA WORTHAM
Published: September 2, 2009
Slim and sleek as it is, the iPhone is really the Hummer of cellphones. More
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Roosevelt: The Great Divider
Kelly Blair
PRESIDENT OBAMA’S apparent readiness to backtrack on the public insurance option in his health care package is not just a concession to his political opponents — this fixation on securing bipartisan support for health care reform suggests that the Democratic Party has forgotten how to govern and the White House has forgotten how to lead. More
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Happy birthday, tanactanac
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David Broder. His words.

Looming beyond the publicized cases of these relatively low-level operatives is the fundamental accountability question: What about those who approved of their actions? If accountability is the standard, then it should apply to the policymakers and not just to the underlings. Ultimately, do we want to see Cheney, who backed these actions and still does, standing in the dock?


Shamelessly Stolen from Eschaton
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How Did Economists Get It So Wrong?
By PAUL KRUGMAN
Published: September 2, 2009

I. MISTAKING BEAUTY FOR TRUTH
It’s hard to believe now, but not long ago economists were congratulating themselves over the success of their field. Those successes — or so they believed — were both theoretical and practical, leading to a golden era for the profession. On the theoretical side, they thought that they had resolved their internal disputes. Thus, in a 2008 paper titled “The State of Macro” (that is, macroeconomics, the study of big-picture issues like recessions), Olivier Blanchard of M.I.T., now the chief economist at the International Monetary Fund, declared that “the state of macro is good.” The battles of yesteryear, he said, were over, and there had been a “broad convergence of vision.” And in the real world, economists believed they had things under control: the “central problem of depression-prevention has been solved,” declared Robert Lucas of the University of Chicago in his 2003 presidential address to the American Economic Association. In 2004, Ben Bernanke, a former Princeton professor who is now the chairman of the Federal Reserve Board, celebrated the Great Moderation in economic performance over the previous two decades, which he attributed in part to improved economic policy making.

Last year, everything came apart. More

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