The Elephant in the Corner
There was some useful stuff in Paul Krugman's analysis this morning of the economic recovery that isn't happening on the schedule predicted by some economists. But as I worked my way through his discussion of how this recession is different from the Reagan-era downturn, I kept waiting for him to state the obvious: back then, the nation wasn't waiting for the other shoe to drop in an unresolved terror war. Economists might downplay the impact of this uncertainty, but it has to play into the psychology of companies and investors--including the foreign investors Krugman cites as losing confidence in the United States. But Krugman didn't raise the issue even to dismiss it.
I've been Davenetted. Didn't hurt a bit. In fact, it feels good to be a blog evangelist.
And Now for Something Completely Different
It looks like Michael Palin will be in Greensboro next week to work on a BBC Scotland documentary about some dead relatives of mine. I would like very much to have a drink with him, and that may just work out.