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Journalism and other myths.

The Struggle Continues

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Race is the one thing that has bedeviled America from the very beginning. The promise of a truly equitable and free people has always been an intellectual exercise, separated off in the mind of great thinkers like Thomas Jefferson from the obvious but emotionally difficult reality of slavery and separation by race. Equality under the law is somehow separate and not equal to equality in culture and the reality of everyday life.

Dr. Martin Luther King’s birthday is as good a day as any to look back and see what progress we’ve made over the last year. It looks pretty bleak all around. Black America is still separate and in far too many ways not equal. Economic and social change has created a vocal backlash of whites, afraid and angry, who lash out at the very idea that progress towards a united and free society is even desirable.

But there is hope – because at least we are starting to talk about the problem.

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The Dragon Bleeds

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Money is fleeing China. That’s hardly news, since it’s been happening for well over a year now. More accurately, money is now seriously fleeing China – at a rate which shows how little confidence anyone has in the dragon. The mythical creature apparently is made from a wall of paper, but it bleeds like any other economic animal – green, not red.

While the throes of this beast are roiling stock markets all around the world the truth of the matter is that money leaving China has to go somewhere – and “somewhere” is going to be primarily in the US. The situation is much more like Japan circa 1990 than nearly anyone has admitted yet. Where the growing Shia-Sunni war in the Middle East is going to be the policy story of this year, the inflow of Chinese money is already shaping up to be the economic story of 2016.

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The Case for Clinton

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On February 1st the actual voting starts in the Presidential race – sort of. That’s the date of the Iowa Caucuses, an event which is much more involved than simply voting. You have to show up and stay there for your candidate, literally taking a stand. Polls show that whether you do it by likely caucus attendees or possible attendees the lead for Clinton is small at best.

That’s a reflection of how much Sanders has caught fire through this pre-election season, and for good reason. Sanders is fighting for the soul of the Democratic Party – making it stand up for working people and a fair economy once more. It’s a good and noble effort and something to be happy about. But when it comes time for me to caucus, a month later in Minnesota, I’ll be supporting Hillary Clinton.

What it comes down to, for me, is how I read the job description.

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Panic – or Laugh?

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“This is no time to panic. There’ll be plenty of time to panic later.”
– Groucho

So far this year the S&P500 has lost 100 points (5%). Where did they put them? Isn’t hard to lose something that is pointy? Despite looking under every sofa cushion the search has so far remained pointless.

It may not seem like the time for humor, but the US market reaction to the meltdown in China is purely comical in many ways. It shows how much the market is responding to emotion rather than reality – and the prevailing emotion is fear. Run away!

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People, not Guns

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Guns. There is currently no more emotional issue in the US and nothing that polarizes more. You’re either in favor of guns or you aren’t, and if you’re in favor of them the ownership of a gun is probably viewed as a fundamental right. There isn’t much room for compromise.

Into this debate we have a nearly constant litany of shootings, sometimes with legal weapons and sometimes not. President Obama has decided to act where he can, more or less working on tightening up the existing background check laws and enforcing them more uniformly and rigorously.

There was a time when gun advocates called for us to “enforce existing laws” rather than write new ones, but even this action is controversial. But it shouldn’t be.

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