by Molly Ivors
While Thers struggles with his father's pokey Windows 98 computer on the other side of The Royal Borough, I am here working on his mother's pedal-operated machine.
I think I'll make a quilt.
No, I think I'll abuse Russell Roberts, whose annoying commentary gave us quite a lot to talk about on the way down.
NPR is apparently running a series called "Au Contraire," in which the cruel conventional wisdom of commentators and pundits (and presumably bloggers) is blown away by pure ol' sunny optimism in the mode of Shirley Temple or possibly KLo. (Hands out prophylactic brain bleach for those considering KLo singing "The Good Ship Lollipop" in a minidress.) Roberts is apparently an economics professor at George Mason University, and quite demonstrably something of a twat (with apologies to twats everywhere). He has one message for America.
Chin Up, Little Campers!
Russell wants to warn us about "stories and subplots designed to scare us, told by politicians and people with their own agenda. Let's not let them push us around, whether they're on the Right or the Left, Republican or Democrat."
That's right: my problem is those big bullies Paul Krugman and Atrios, the latter of whom has adjusted his definition of The Big Shitpile to Jenga, the children's game which eventually comes tumbling down. Why have Krugman and Atrios--also both with PhDs in Economics--done this to me? Because they're big mean meanies who own stock in Lunesta, apparently.
Roberts tells me everything's okay.
My New Year's Wish for America is that we be skeptical of falling sky stories and that as a result, we all sleep better.
............
The subprime mortgage crisis isn't going to ruin the economy. After years of appreciation, falling housing prices aren't a disaster. Home ownership will remain near or at an all-time high.
China isn't going to steal our prosperity or our jobs. They can't. If they keep selling us toys with lead paint, we'll stop buying them. Meanwhile, they play Santa Claus, and the American economy keeps creating more jobs.
.......
None of this is meant to defend the economic status quo. Or a Republican president. Or a Democratic Congress. I slept just as well in the 90's, when we had a Democratic president and a Republican Congress.
..........
Chill out! Read more arguments on the other side. The optimists usually have some decent arguments. Maybe they're right! Learn some economics. It's working for me!
Breathtaking, truly. From his perspective, people who used the equity in their overpriced houses to put their kids through school deserve the "correction" of homelessness. Kids brain-damaged from lead paint? Punish the Chinese economy by not buying their toys! And reading the Kristols and the Corner is going to soothe us back to sleep.
Immigration, the shrinking middle class, unemployment, the falling dollar.... it's all good in Robertsland.
I'm no economist (that's why, generally speaking, I trust real ones), but I can see that things are coming to a head, and fast. Just as global warming seems more intense and desperate by the day, the economy of the United States seems to be unraveling at an alarming pace, at least to me. I'm not generally a hair-on-fire sort of person who, as Roberts says "likes to get steamed." I just see what I see and draw conclusions from my reading and experiences, and the conclusions I'm drawing concern me greatly these days.
Perhaps this is because for many years I cobbled together part-time jobs. Now that I have a full-time permanent position, I guess I thought things would settle. But as it happens, I hit it just as the Jenga game started wobbling, and I'll be honest: I am afraid. And some twat touting American exceptionalism is not going to help me sleep.
Oh, and Roberts is a Research Fellow at Stanford University's Hoover Institution
, so you know that he has no political agenda whatsoever! Because remember: "the sky usually doesn't fall"! WooHoo!