The Democrats put on a good show in Charlotte, especially former President Bill Clinton’s speech. President Obama, who already knew today’s weak jobs numbers when he took the podium Thursday night, gave a cautious speech. His essential plea, like Ronald Reagan in the early 1980s, was “stay the course.” I suspect few minds were changed in our polarized nation.
To Obama’s credit, the collapse he inherited was arrested and many aspects of the economy have rebounded. He faced a united opposition whose first priority was his defeat. But 12.8 million remain unemployed, and far too little mention of this was made at the DNC. What’s the plan to address it? To his discredit, his Justice Department let the banksters get away with it. The Too Big To Exist banks are larger than ever. The stimulus was too small and poorly aimed. As the Atlantic puts it, the choice is “between Obama’s weak record and Romney’s worse alternative.” Of course, many will disagree and line up behind Romney.
So: The Friday poll:
Read on for the best links of the week and the haiku.
This Week’s Links:
- A platonic dialogue: Arguments against loose money when fiscal conditions are too tight || Brad DeLong
- The jobs report and the election || Robert Reich
- The jobs report in five — nay, six! — charts || Ezra Klein/WashPost
- Amazon makes everything better || Slate
- Don’t bet on the end of China’s growth miracle || BusinessWeek
- Vultures and patriots || Clyde Prestowitz/Foreign Policy
- Five reasons why the economy may be about to boom || WashPost
- Misunderestimating the Fed || Uneasy Money
- The ECB and dominos || Baseline Scenario
Today’s Econ Haiku:
Who will take a bite of whom?
The river runs deep