On Sunday, February 3rd, Yasser Arafat published an 1,100-word op-ed column, "The Palestinian Vision of Peace," in The New York Times. In it, he wrote that the Palestinian people yearn to live "as an equal neighbor alongside Israel with peace and security for both."...
POLITICS
Attack U.S. and Get Paid with Taxpayer Money
A donor conference for Afghanistan convened in Tokyo last week had every appearance of being humane, moral, and sensible. Representatives from sixty governments pledged to help rebuild Afghanistan by committing at least $1.7 billion in 2002 and $10.2 billion over the...
Top Ten Myths About Campaign Finance Reform
Myth #1: "Shays-Meehan is constitutional." Any bill that attempts to "equalize" citizens' political speech through criminal and civil penalties for "excessive" or "unfair" speech violates the First Amendment, which provides in plain terms that "Congress shall make no...
Economics of Investing: Hypothesizing about the Efficient Markets Hypothesis
Over the past couple of years, events like the Internet and more recently, the Enron and Global Crossing debacles, have spurred people to reconsider the Efficient Markets Hypothesis, "EMH." For those unfamiliar with EMH, here's a brief textbook definition: prices of...
Multiculturalist Reporting: One Man’s News is Another Man’s Fiction
You may think you know what happened on Jan. 3, 2002 when Israeli Navy Seals seized the Karine A, a cargo ship carrying 50 tons of contraband Katyusha rockets, anti-tank missiles, mortars, mines, explosives, and sniper rifles. You may think the ship's captain...
The Terrorist’s Best Friend
The events of the past few weeks in Israel have offered a timeless lesson on the real cause of terrorism and the real meaning of the "peace process." The pattern of these events is crystal clear: Yasser Arafat and his Palestinian Authority have escalated their war...
Enronic Cleansing: Be Warned
I alienated some friends and clients when I e-mailed a TrendMacro Live! note last week warning of a dangerous new phase of the Enron scandal. Everyone is understandably eager to round up the bad guys and hang
Behind the Environmental Working Group
Among the political chattering classes, there's a big buzz over a tiny activist organization called the Environmental Working Group. Both liberals and conservatives, including the left-leaning New York Times editorial page and the right-leaning Wall Street Journal...
New Words for the Same Old Hustle
What would Martin Luther King Jr. have made of a recent ad last month (Jan 21) in the Boston Globe? On Page 10, to honor King's memory and legacy, a full-page ad reproduced the peroration of his unforgettable 1963 speech at the Lincoln Memorial: "I have a dream that...
Defending the rights of John Q — Dr. John Q
John Q -- a propaganda flick about an uninsured worker who forces doctors at gunpoint to treat his son -- has reinvigorated the widespread misconception that health care should be a "right." But believers in such a notion, and the politicians that pander to them,...
Enron, Tyco, and Accounting for Conglomerates
In the wake of the Enron scandal, investors are all of a sudden focusing intensely on the integrity of corporate accounting. So self-righteous pundits and politicians are elbowing each other for space at the head of the lynch mob demanding new regulations to enforce...
Who Pays The Tariffs?
As predicted, the steel industry has bellied up to the federal concession stand for all forms of relief and favors. The emotionally charged premise is that the steel industry is vital to our defense and economic strength. This same argument was successfully used by...
Snub the Tyrants and Grow Your Own
Allow me to suggest a New Year's resolution you'll thank me for: Grow your own tomatoes. As you'll see, becoming a grower can be rewarding far beyond the sweet taste of your crop. The traditional extra benefits keep bringing many of us back season after season. If...
OPEC, Oil, and Energy Economics 101
We are all familiar with pundits from all corners decrying our dependence on foreign oil. Before the oil embargo in the 70's and subsequent attempts to wean ourselves from OPEC, we were importing about 25% of our oil and now we are importing over 50%. This is always...
Enron, Krugman, and the Public Intellectuals
The failure of Enron has had important impacts for its shareholders, creditors and business counterparties. There will be some important second-order impacts, too. Enron has already become an excuse for politicians and special interest groups to seek useless and...
For-Profit Schools: Profit’s not a Four-Letter Word
"It's not ethically sound to make a profit off educating students in a school that serves the public, which a charter school is, using funds from public coffers." That's not a sentence from Mao's Little Red Book. It's from Philip Parr, Chief of Staff of the Pittsburgh...
Why is “Campaign Finance Reform” Popular–Amongst Politicians?
In its reckless disregard of the Constitution when it passed "campaign finance reform" legislation, the House of Representatives has demonstrated dramatically why we need real political reform. The First Amendment to the Constitution begins "Congress shall make no...
A Deadly Error
How well is the Bush administration conducting the war on terrorism? Overall, it deserves high grades, having shown an impressive seriousness of purpose, discipline, and vision. It made winning the war the guiding principle of U.S. foreign policy and almost flawlessly...
The Media That Couldn’t Shoot Straight: How a Hand Gun Saved Lives
On January 16, 2002, a law student at Virginia's Appalachian School of Law shot and killed the dean, a professor and another student, while wounding three others. How did the shooting spree end? According to the Los Angeles Times, "Other students tackled (emphasis...
Biotech Comes Down With Enronitis
The biotech sector is sick. The industry that promises to cure cancer and AIDS can't cure itself. And it's all so sudden. All last year I thought favorably of biotech as a "defensive growth" sector -- a group of high-risk/high-reward technology companies that are...
Who Is the Enemy?
With whom, or what, is the United States at war? The answer to this question has far-reaching implications for strategy, for public diplomacy, and for foreign and domestic policy alike. It may seem that the answer is obvious; but it is not. In the first few weeks...
A Sign of Things to Come? Expanding the Tobacco Industry Lawsuits Against All Industry
Let's face it, we're too damn fat and, this being America, someone should be sued! Professor Marion Nestle at New York University provides the target: "The function of the food industry is to get people to eat more, not less. It's not fair." It's Big Chocolate, in...
Saudi Arabia: America’s Dysfunctional “Friend”
For Thanksgiving in 1990, former President George H.W. Bush went to Saudi Arabia to visit the 400,000 American soldiers stationed there as part of Operation Desert Shield. The Saudis welcomed Bush, but made it clear that no Christian worship -- including grace before...
Sobering Up
When the stock market soared in the first two weeks of this new year, it seemed to validate a growing confidence that the economy was destined to overcome the tech-wreck and the recession, just as America had moved beyond the terrorist attacks of September 11....
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