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Journalism and other myths.

A Better Tomorrow, Eventually

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When the going gets silly, the silly get going.  Stephen Colbert, the ultimate exercise in personal branding gone horribly amok, is possibly running for President.  The reigns of Colbert  SuperPAC have been turned over to Jon Stewart, who immediately asked the most important question – “Does anybody know where the key to the Super PAC bathroom is?”

It had to be turned over to Jon because what matters in SuperPacLand is that there is no “coordination” between the candidate and the PAC.  If that seems awkward, consider that “awkward” is a synonym for “uncoordinated”, so there you go.  And now Colbert is free to pursue an exploratory campaign to possibly run for President, maybe.

That’s what our political system is today – a kind of performance art.

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Growing Jobs, Revisited

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Back in October 2010, job creation was at a complete standstill.  The bottom of total employment was hit in February of that year and little had changed since.  A simple analysis came through Barataria from Gary Shilling designed to predict when the turnaround might possibly occur – sometime after the economy (as Gross Domestic Product, GDP) started to grow at a rate of 3.3%.

Since that time, 2M jobs have been created in the economy and the headline unemployment rate has fallen to 8.5%.  It feels like some improvement, if not much.  Yet many people feel it can’t be a real decline in unemployment in part because the economy itself is not growing much (running an estimated 1.8% GDP growth in 2011).

Is there real job growth, or is the regression line from all the postwar data presented by Shilling telling us it can’t be real?  My own analysis, which at the time pessimistically showed that higher growth might be necessary to grow jobs, may actually be telling us that job growth is indeed real – because it was so anemic over the previous decade of the Managed Depression, starting in 2000.

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Good News or Bad?

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After a somewhat slow December, there is a lot of good news and bad. The problem is that both seem to come at the same time, leaving anyone following the flood of information bewildered.  Two main categories of news, economy and national security, are running at odds with each other.  Are things getting better or are they getting worse?  It depends on how you look at it.

This is what a time of revolution and restructuring looks like.  Anything can happen.  Times like these are what separates romantics from pragmatists, optimists from pessimists, and if we aren’t careful politics from any semblance of reality.

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Ron Paul

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The Iowa poll results took a while to sink in.  Mitt Romney is leading in Iowa, but Ron Paul is well within striking distance of an upset win.  The commentators are coming out of the woodwork to define Rep. Paul as someone on the fringes, but it may be too late with the Caucuses just a day away and everyone’s attention focused on the holidays.

Ron Paul may be the big wildcard in the election cycle, but not just because of this stunning poll result.  The more he and his supporters are marginalized and underestimated, the more powerful they become.  The game of expectations is clearly favoring a surprise on his part – and that could define the rest of this election season.

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