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Friday, October 29, 2004

COUNTER-MANIPULATION?    The Bush re-election futures contracts on Tradesports.com have popped back up to where they were yesterday -- about 54.5 -- before a massive speculative attack knocked them down to as low as 49.5. Is this just the market bobbing back up to where it really belongs once the attack is over? Or is there a counter-manipulation going on? You can never know for sure, but I've been watching all the action trade-by-trade, and it sure looks to me like yesterday was an attack and today is not. For one thing, yesterday's decline happened on massive volume -- just what you'd expect when someone comes in to try to hammer a market. Today's action is on somewhat higher-than-normal volume, but nothing special -- I don't see any evidence of anyone trying to move prices for the sake of moving prices.

That said, we have to remember something very essential about what these futures contracts are really telling us at this point. With four days to go, if there really were a favorite in this contest, the contract would be pricing him at 80. Anything from 30 to 70 is, functionally, a prediction of a toss-up.

Posted by Donald L. Luskin at 7:51 PM | link   

TAXED TO DEATH?    It really can happen. Thanks again to reader Jill Olson.

Posted by Donald L. Luskin at 7:41 PM | link   

OK, NOW DO YOU GET IT?    I've been saying over and over for months that the stock market would prefer to see Bush re-elected. Seems obvious to me, looking at the correlation between the market and Bush's poll numbers. But the hate-mail continues to pour in every time I say it. So let the doubters read this -- a point by point accounting of all the ways John Kerry's legislative record reveals his opposition to the interests of investors. Look at his positions on capital gains taxation, dividend taxation, tax-free savings accounts, tort reform, free trade... it goes on and on. QED. Thanks to reader Jill Olson for the link.

Posted by Donald L. Luskin at 7:38 PM | link   

THANK HEAVEN FOR LITTLE GIRLS    A good friend wrote the other day to share an essay on Bush and Kerry by a 15 year old girl he knows, written for a class assignment at La Jolla High School. I sent it on to our friends at National Review Online, and they agreed with me that Courtney Sorenson's essay was so good, they published it! Check it out -- and never let anyone make you think that young Americans will only vote for Kerry. Hmmm, well on second thought, there are probably plenty of 15 year olds (and 115 year olds, too) who will vote for Kerry (but hopefully those votes won't be counted).

Posted by Donald L. Luskin at 1:20 PM | link   

AL GORE MAY HAVE INVENTED THE INTERNET, BUT...    ...according to CNET News.com,
Republicans trounced Democrats in a scorecard of key technology votes compiled by CNET News.com that illuminates stark differences in the two parties' voting history in the U.S. Congress over nearly a decade.

Senate Republicans scored an average of 61 percent--15 points higher than their Democratic counterparts, who on average scored 46 percent. The gap was mirrored in the ratings garnered by their counterparts in the U.S. House of Representatives, where Republicans boast a 68 percent collective score compared with 52 percent for Democrats.

Thanks to reader Daniel Miller for the link.

Posted by Donald L. Luskin at 12:19 PM | link   

WHO NEEDS A "PUBLIC EDITOR"?    Reader Dick Sheppard sends along an email he got from the publisher of the New York Times -- explaining (in far more detail than Dan Okrent's form blow-off) where the Times stands on the Al Qaqaa story.
I thought you'd be interested in this response which comes from the Executive Editor.

Our front page story of October 25 reported accurately that a senior official at Iraq's Ministry of Science & Technology informed the International Atomic Energy Agency in a letter on October 10 that the materials were lost from the Al-Qaqaa site after April 9, 2003, through "the theft and looting of the governmental installations due to lack of security." As the story further reported, the IAEA took an inventory of the materials in January, 2003. In early March, right before the beginning of the war, the IAEA went to the site and found that the seals on the bunkers were still intact. Pentagon and White House officials told the Times, as the story says, that the materials vanished sometime after the U.S.-led invasion. The Times story also reported that U.S. forces visited the vast site on their way to Baghdad and saw no materials bearing the IAEA seal. We are continuing our reporting on the disappearance.

NBC News subsequently reported that a unit of the 101st Airborne visited the site on April 10 and did not see the explosives. The Republican National Committee and others interpreted this to mean that NBC was saying the explosives were already gone by the time the Americans got there.

However, NBC has disavowed that interpretation. On Tuesday night NBC interviewed its own reporter, who was embedded with the unit that visited Al-Qaqaa. She said the American military did no searching during that visit. The Times reported this morning that, in an interview, the commander of that American unit said his soldiers simply used the site as a camp. They had no orders to search for weapons, and did not in fact conduct a search. (The Al-Qaqaa site is roughly 40 square miles, and the explosives were widely dispersed among scores of bunkers and other buildings.)

As our original story made clear, we do not know what happened to the explosives or when it happened. The story explicitly left open the possibility that the material was removed by Saddam Hussein's government or someone else before the Americans arrived. But that, apparently, is not what the current Iraqi government believes, or what officials at the IAEA and within our own government suspect.

What the original story "made clear" isn't as "clear" as this note suggests. But at least it's a substantive response.

Posted by Donald L. Luskin at 6:49 AM | link   


Thursday, October 28, 2004

NEW AND IMPROVED CONSPIRACY THEORY    Here's reader Norbert Schlenker with a Bush futures contract conspiracy theory even deeper and darker and weirder than mine:
I should disclose that I am personally short Dubya at Tradesports, albeit at much higher levels. I am considering covering because I cannot believe that a person with Karl Rove's record doesn't have ammo yet in reserve. And no, neither my short nor covering has moved or would move the market half a penny. It's just pure entertainment.

But on to the meat of the matter -- painting the tape in Dublin. It seems to me that a person who wanted the financial markets to really start worrying would be trying as hard as possible to peg both the Bush and Kerry contracts to 50. After all, the worst possible scenario is not a clear Kerry win. It's some two month long multi-state legal imbroglio. You thought it was bad with just Florida in 2000. What if Florida and Ohio and Wisconsin and Minnesota and Colorado and New Mexico have concurrent arguments running in state courts? Throw in four different federal circuits and think what a mess it might be.

Here's another possibility. Suppose you've got a favored candidate, deep pockets, and you think people who will vote your way actually pay attention to the Tradesports markets. Then you can encourage your voters to turn out by making it look as if it's really close and that their vote will really count. I would guess that Republicans pay more attention to this market than Democrats -- partly because of your writing at National Review Online -- so maybe the push from 60 down to 50 is all a Republican plot to bump their turnout.

Aren't conspiracies fun?


Posted by Donald L. Luskin at 9:00 PM | link   

JUDE GOES FOR KERRY    Reader Don Noone asked me to comment on the fact that supply-side economics guru Jude Wanniski -- present at the creation of the revolution -- came out yesterday with an endorsement of John Kerry for president. I'm not all that surprised by it. Jude has always been identified with the Republican party, but he has always gone his own way, too. And he was never much of a George Bush fan. In 2000 he mocked Bush in the primaries -- he was the first one to call him "Shrub," as far as I know. He became a strong Bush convert when Dick Cheney was selected as Bush's running mate. Historians of the supply-side movement will recall that Cheney was present with Jude at that fabled dinner at which Arthur Laffer sketched what Jude would someday christen "the Laffer curve" on a cocktail napkin -- and Reaganomics was born. But Jude has always been very sympathetic to Islamic causes -- not in any post-911 collaborationist sense, but out of a sincere (if misguided) interest in global pluralism, justice and inclusiveness -- so now Jude counts Cheney among the evil neocons who are helping America take over the world. He suggests that one key reason not to vote for Bush is that Cheney, Wolfowitz, Rumsfeld and all the rest are sure to be fixtures of a second Bush term. Jude has also always been a gridlock fan, and he seems to look forward to a Democrat in the White House and Republicans controlling congress. I think he's wrong -- I think Kerry is an ultra-leftist who presents a very serious threat to freedom in America. But I can understand where Jude is coming from.

Posted by Donald L. Luskin at 8:49 PM | link   

YES, BUT IS IT ETHICAL?    Liberals normally don't like free markets. But here's one they love -- a way to buy more votes for John Kerry in swing states. It's a vote-swapping site called VotePair.org. Don't tell yourself that this is just some Internet-age breakthrough in voting technology. As the site says, "Defeat George Bush - Support Third Parties - Build a progressive majority". From the Harvard Crimson:
Democrats in Massachusetts can now trade their votes with third-party supporters in battleground states, thanks to a website run by a Harvard alum.

VotePair.org provides an online forum aimed at winning electoral votes for presidential candidate John F. Kerry without impacting the plural vote for progressives such as Independent candidate Ralph Nader, Green party candidate David Cobb and Libertarian candidate Michael Badnarik.

After registering on the website, each third-party voter is paired with a voter from a “secure” state, where one presidential candidate is clearly in the lead. The pair can communicate via e-mail and pledge to exchange their votes.


Posted by Donald L. Luskin at 8:41 PM | link   

FORM BLOW-OFF    New York Times "public editor" Dan Okrent has become very facile a blowing off inquiries about the liberal bias of the "newspaper of record." Now he's sending everyone the same weasley form letter about the Times' coverage of the Al Qaqaa explosives. I've heard from a dozen readers who have all gotten the same one I reported yesterday.

As reader John Primmer put it, "Okrent’s statement that we have to let the story 'play out over the next several days' is remarkable isn't it? Talk about Ready! Fire! Aim! We need a new pithy phrase to match Rathergate's 'false but accurate.' How about 'false, but hope is on the way.'"

Posted by Donald L. Luskin at 8:32 PM | link   

GET THEE TO A NUNNERY    ...or something like that. When George Soros isn't manipulating markets, he's addressing the National Press Club saying that if Bush is re-elected, "I shall go into some kind of monastery." Promises, promises.

Thanks to reader Jill Olson for the link.

Posted by Donald L. Luskin at 8:06 PM | link   

BUSH FUTURES UNDER MASSIVE ATTACK    The Bush futures contracts at Tradesports.com are being attacked by massive selling. So far today total volume is twice the all-time record, and the night is still young. From a high today of 56.7 (indicating a 56.7% probability of Bush's re-election), they've traded as low as 49.5, the bottom so far in a downward cascade that started about three hours ago. This is the continuation of another attack that lasted for an hour last night, starting just before the close at 2:30am EDT. In both cases formidable buying support has come in. Now it's at 50 and at 49, and whenever the seller relaxes his offers the contract spurts into the low 50's again (it just traded at 54 for a moment, up 5 points in a split second -- and then back to 50 again). It seems that the wannabe George Soros (or is it Soros himself?) masterminding this has a little competition now.

The New Mexico and Ohio contracts have also come under attack at the same time. Note carefully the scale used in these charts, to appreciate the magnitude of these price moves over a short period.

New Mexico:

Ohio:

Posted by Donald L. Luskin at 7:08 PM | link   


Wednesday, October 27, 2004

KRUGMAN'S REMOTE ANCESTORS FOUND    Now we know why he's so worried about "the little people." Thanks to reader Jill Olson for the link.

Update... James Crystal adds: "Maybe the 'hobbit' bones were those of a midget. Hey, right now little Krugman' physical size soars above his intellectual acuity and dwarfs his integrity quotient."

Update 2... Jill Olson digs deeper and earns the coveted Good Taste Is Timeless Award: "Did you read the whole thing? It also talks about Andrew Sullivan's ancestors."

Update 3... Reader Vivek Rao asks, "I'm on your side -- the side of free enterprise -- and try to help in the fight against Krugmanism. But I think that mocking his height is overly personal and detracts from your site. We dislike him because he's a nasty, dishonest, socialist -- not because he's short. Right?" Fair question, and the answer is "yes." I don't dislike Krugman because he is short. But I do dislike him for more reasons than just that he is a nasty, dishonest, socialist (though I admit he is certainly all those things). Another reason I dislike him is his haughty, arrogant pose of infallibility -- the snotty, condescending, know-it-all tone he assumes when he writes from the august pages of America's newspaper of record. I do not intend to ever grant him the authoritativeness he pretends to have, or accord him any respect at all based on his pedigree or position. One way I can puncture his pedigree and position is to constantly show that this man is not the titan he pretends to be. As anyone knows who has seen him on television or in person, he is a short, pudgy, whiny, stuttering, shifty-eyed, ill-groomed, gray little homunculus. Keep that in mind when you read his New York Times columns -- it puts everything in perspective. Am I stooping to name-calling? If I am, too bad. The emperor has no clothes, and I intend to keep calling him naked.

Update 4... Reader Joe Cambria pleads, "Please tell me you would never subject us to a naked Krugman. The mere thought is horrifying."

Posted by Donald L. Luskin at 5:25 PM | link   

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OKRENT COVERS BIAS WITH "ERROR" AGAIN   
A reader (who prefers to remain anonymous) shares this all too typical exchange with New York Times "public editor" Dan Okrent about the Times coverage of the explosives supposedly missing from Al Qaqaa. As usual, Okrent treats this as all a matter of whether the Times made an "error" or not. There's not one word in his reply that suggests that he would even begin to consider whether this "error" might reflect any bias at the Times -- though this is explicitly what the reader asked him. It's the same way he blew off concerns about the Swift Boat Vets "dust up," as he called it. Maybe the Times is right, maybe it "erred" --and "If my description offends you because you dislike Kerry, or because you think the extent of The Times's Swift Boat coverage lent credence to false charges, this tells me more about you than it does about The Times." Readers can be biased -- but never the Times. Even with respect to any hope that Okrent would expose an "error" in this case, I agree with my reader (something Okrent never does) that "I'm not holding my breath (as usual)."

Here's the letter:

I can only assume from your sensational front-page story on how the US supposedly allowed for the Al Qaqaa facility to be looted and hundreds of tons of explosives that you meant to interfere in the election, in favor of your candidate John Kerry. The story is without basis and if there was ever a time for an investigation (external) of your journalistic practices, this is it. Yesterday, I received an email from a friend, outraged at the Bush Administration's actions, as described in your story. I told him that if I believed the New York Times, I might be upset too. However, it's a sad testament to how far the "newspaper of record" has fallen, when I have to doubt the veracity of a front page story, with so much importance, so close to the election.
Okrent's reply
I appreciate your concerns about The Times's reporting on the explosives missing from the Al Qaqaa site in Iraq. However, I think it is much too early to come to a conclusion that there is error here. I note three factors in particular: NBC News's clarification of their early report; The Times's on-the-record citation of the unit commander who arrived at Al Qaqaa on April 10 asserting that his troops did not conduct a search; and, finally, some mixed signals from the White House.

This story will, I am sure, continue to play out over the next several days. If The Times is indeed in error, that is certain to become clear, and I will say so in print. Until then, I can only suggest that you -- and I -- examine each charge and countercharge very carefully, and examine the evidence fully, before reaching conclusions. Yours Sincerely, Daniel Okrent Public Editor


Posted by Donald L. Luskin at 12:36 PM | link   


Tuesday, October 26, 2004

KRUGMAN BOMBS    Outstanding sentence by sentence refutation of Paul Krugman's latest column on Radio Free Roider.

Posted by Donald L. Luskin at 4:32 PM | link   

WHY DON'T I FEEL SAFER NOW?    Larry Kudlow quotes John Kerry: "With the same energy...I put into going after the Viet Cong and trying to win for our country, I pledge to you I will hunt down and capture or kill the terrorists before they harm us." So what does that mean exactly? Secretary of State Jane Fonda bringing fruit baskets to al Qaeda camps?

Thanks to reader Perry Eidelbus for the link.

And don't miss Kudlow's new blog!

Posted by Donald L. Luskin at 12:41 PM | link   

READER VERSUS OKRENT ON THE SWIFT BOAT VETS    I get dozens of letters each week from readers fed up with blow-offs and cover-ups from New York Times "public editor" Dan Okrent -- supposedly the "readers' representative." Here's one particularly thoughtful and well documented case from reader Bruce Kesler.
The New York Times' exalted view of itself extends to naming Daniel Okrent its "public editor." Other newspapers have ombudsmen (or ombudswomen) or readers' representatives. There's real meaning in that different nomenclature.

Daniel Okrent does not represent the concerns of the New York Times' readers to Times management and reporters, to improve the Times' reporting. Although Mr. Okrent labels himself the readers' representative, his record shows, instead, he represents his own views -- and in effect that of Times management -- to the readers.

Below are excerpts from my correspondence with Mr. Okrent, to which his assistant Arthur Bovino replied, along with some temporal context.

Following the August 2004 uproar over the contentions of the Swift Boat Veterans For Truth in their book Unfit for Command, first almost entirely covered in the conservative media and then disclaimed by Kerry spokespeople in the more liberal mainstream media, I wrote to Mr. Okrent on September 8:

"According to one count, the New York Times has used the word 'unsubstantiated' 17 times to describe the contentions raised in Unfit For Command. Since the New York Times has not done any investigation of the actual events described…the use of the word 'unsubstantiated' is quite misleading… I challenge that any book has ever so affected a US political campaign since the Federalist Papers…(no I am not otherwise comparing the books). That is more the reason for careful and not political analysis and investigation. The New York Times has, sadly, failed its responsibility."

Contained in that email was my Short Guide to the Kerry-Vietnam Contentions, "which may be useful to any who do wish to investigate and report." That Short Guide was also published in the Augusta Free Press on September 10 ("30 Questions"). Informed reporters responded favorably to its balanced outline of the supporting evidence to the Swiftees and of issues unresolved as John Kerry refuses to release his full military records and his journal. For example, Michael Dobbs of the Washington Post, the only mainstream reporter who bothered to make an investigation of one of the incidents -- Kerry's Bronze Star -- wrote me on August 28, "Thanks for your Short Guide. You make some good points. We will follow the story." Mr. Dobbs' August 22 investigation stated he was denied access to Kerry's full records and journal.

Did Daniel Okrent, then, represent the readers, or ignore them -- and rely on the Times' own highly incomplete and partial articles for his report back to readers? On September 12, Mr. Okrent wrote his next column. In it he said: "Instead of considering the hundreds of messages from irate readers that accumulated while I was gone," he read some of the Times' coverage of the "Swift Boat dust-up," as he called it. Okrent concluded from this read of the Times, "official records contradict the central charges leveled in the ads. However, it is not accurate to say, as Senator Kerry has, that he spent Christmas 1968 in Cambodia. If my summary is wrong, the Times erred. If it's accurate, the paper did a fine job."

I wrote a letter to the editor of the New York Times on September 13, saying, "Mr. Okrent is not supposed to be an ordinary reader but the seeker of truth about the caliber of the Times' coverage." The letter was not published by the New York Times. I also wrote to Mr. Bovino, "Mr. Okrent's column amply demonstrates that JUST relying on the NYT's coverage of the Swiftboat contentions results in a very partial understanding of the evidence as compared to the adjectives… I and many others feel strongly the US needs and deserves the civic center that the NYT once served as a detailed, objective paper of record, and only want to see that restored."

On September 13, I also pointed out to Okrent another Times use of "unsubstantiated," again without any support by the Times, but just as a repeated adjective whenever referring to the Swiftees. On September 13, I also sent Okrent the 17 specific citations and contextual quotes from various Times reporters similarly dismissing the Swiftees as "unsubstantiated," without any investigation or specifics justifying that adjective. Arthur Bovino responded for Okrent, "Thanks for this. I'm going to point this out to Mr. Okrent for his upcoming column…"

By this time, even a mainstream media brother of the New York Times, ABC in its "NewsNotes," ridiculed the Times' approach to coverage of the issues: "Sometimes you just want to say: Really, New York Times…who else BUT Bush backers would you expect to give money to the Swift Boat Veterans for Truth? Kerry backers? Non-partisans?" (September 13, 2004)

I asked Mr. Bovino when to expect Mr. Okrent's "upcoming column." On September 14, Mr. Bovino replied: "At some point between now and the election but sooner rather than later." (September 14, 2004)

On September 23, I wrote to Okrent again about new, continued "unsubstantiated" abuses. Mr. Bovino replied (September 24), "I have already noted these concerns to Mr. Okrent several times but will add your points to those I am compiling as a report to Mr. Okrent as reference material for his upcoming column."

On September 30, I wrote to Mr. Okrent again, with more documentation, saying, "Please add this to Mr. Okrent's folder." Mr. Bovino replied, "I will."

On October 9, I wrote to Mr. Okrent regarding the Times Book Review's review of Unfit For Command by a reporter on Kerry's bus, who obviously without reading the book, and without any military analysis qualifications, blatantly repeated ad hominem Kerry personal attacks against the author and failed to deal with the details of the book. Mr. Bovino replied: "Mr. Okrent has said that he will be writing about the book review at some point during his tenure so I will keep your message on file for use as reference material."

On October 12, I wrote to Okrent: "From our correspondence, I felt led to expect Mr. Okrent to speak out on this, especially when so well-documented and so blatant… Yet, three columns have passed, and no Mr. Okrent. " I also wrote a letter to the editor of the New York Times: "Mr. Okrent…wrote [October 12] that essentially the Times is providing balanced reporting of the election. His anecdotal proof is that he receives criticisms from liberals and conservatives. He, however, fails to provide any empirical evidence of the Times' balance." The New York Times did not publish this letter.

Slate's Mickey Kaus commented that same day: "Er, what was Okrent's job again? Defender of the Times against the Public?…What's the use of an ombudsman who doesn't think his paper ever screws up…?"

On October 17, I sent more documentation to Mr. Okrent.

On October 17, rather than do his job of ombudsman, readers' representative, impartial independent analyst of the New York Times actual reporting, Mr. Okrent turned his column over to two outside left and right general commentators on the Times. On October 24, Mr. Okrent continued to not do his job of investigating and analyzing problems in New York Times reporting, as he turned his column over to a few innocuous general comments from readers without Mr. Okrent dealing with any details of Times stories or slants.

What might a more diligent reader representative have done? Consider the use of the word "unsubstantiated"? "Substantial" is defined as "of solid character or quality; firm, stout, or strong..." In newspaper parlance, "substantial" may be seen as "reasonable weight of evidence". Here is what is substantial about the Swiftboat accusations against Kerry:

1. Over 60 direct witnesses, many then or now senior naval officers independent of the Bush campaign, have provided affidavits and details that stand in contrast to only several lower ranked enlisteds or officers directly employed by the Kerry campaign. The weight of credibility is with the Unfit For Command book.

2. Kerry did not want to go to Vietnam, or combat: Kerry only enlisted when his application for after graduation further deferment to visit Paris for a year was denied. Kerry only applied for Swift Boats when they were still an offshore patrol unit.

3. 1st Purple Heart: The senior officer, later Admiral and senior JAG officer, who directly witnessed, says there was not enemy action which is necessary for an even slight wound, even accidentally self-inflicted, to rise to Purple Heart. No battle report, therefore, was filed at the time, and the senior officer (Hibbard) denied the application by Kerry. Refusal by Kerry to release his full military records blocks investigation of how Kerry wangled the award months after the direct contrary witnesses had left Vietnam. -- Treating doctor for the thorn-sized scratch also confirms contrary evidence to the hagiography of Kerry-Brinkley (Tour Of Duty author).

4. Silver Star #1: Even Kerry defender Rood (Chicago Tribune editor) says that the situation had already been mopped up when Kerry chased a Viet Cong and killed him. -- John Kerry, himself, in Douglas Brinkley's Tour of Duty says he only faced and chased a single, lone, wounded VC. ABC "Nightline's" VC also say they had already "ran away". Also, although Rood defends the tactic, it was against military and common-sense procedure to beach the boat, as it made it a sitting duck, and to singly chase ashore, as it exposed the entire unit to danger from revealing of sensitive operational intelligence if Kerry were to have been captured. Does not rise to extraordinary heroism of a Silver Star.

5. Silver Star #2: Kerry campaign exhibits a "V" for valor on his Silver Star, although the Navy says there is no such designation that is allowed to anyone.

6. Bronze Star: Dobbs' investigation in the Washington Post clearly demonstrates that Kerry left the scene of danger, while others stayed, only returning later to pick up Rassmann just before another boat was going to. Rassmann says he was under water most of the time, and thus a weak witness to whether there was any hostile fire at the time that Kerry picked him out of the water. Other involved witnesses say there was not hostile fire at that time, although there are conflicting accounts of whether there may have been some earlier. There were no bullet holes to any of the boats from that 3/13/69 incident, which supports the "no hostile fire" witnesses. Further, there is substantial evidence that the basis for the mis-awarded Bronze Star was a misleading after-action report that came from Kerry.

7. 3rd Purple Heart: It was admitted that Kerry's rear-end wound came from an earlier, unrelated incident, his own grenade blowing up Viet Cong rice. His arm "contusion" came from falling within his own boat while leaving the scene of the 3/13/69 mining incident against another boat. There is no credible evidence it resulted from hostile action against Kerry's boat.

8. Cambodia: Every bit of evidence has disproven this 50+ times repeated by Kerry fantasy.

9. Post-Vietnam:

  • Kerry's 1/71 Winter Soldier hearings, upon which defenders say his 4/71 testimony to the US Senate Foreign Relations Committee was based, were organized by US and foreign communists and radicals, funded by Jane Fonda and friends (who supported North Vietnam's cause), and many of the witnesses were proven later to be frauds.
  • Any examiner of the 4/71 Kerry testimony, then or now, and of its public consequences, reports that Kerry believed and spread the smear of all Vietnam veterans, national leadership, and of the US as engaged in a war criminal action, and that negatively colored the reputation of Vietnam veterans then through now.
  • Kerry visited the Viet Cong-North Vietnamese delegations in Paris in 1970 and 1971, and did publicly support their proposals in contrast to the US proposals. That would have, aside from other matters, left US POW's in enemy hands.
  • POW's have affirmed that their North Vietnamese interrogators used Kerry's specific words against them to break them down (Galanti, Cordier, Warner, now-Congressman Johnson).

10. Kerry Failure to "Come Clean":

  • Kerry never apologized nor recanted for his "youthful exuberance"
  • Kerry created a self-aggrandizing biography on all the above, and was abetted by Douglas Brinkley's hagiography which failed to then or now seek or publish contrary witnesses or evidence;
  • Kerry highlighted his brief service 35-years ago as a junior officer as seemingly his sole qualification to lead the US and world now, and invited inspection of that. Yet, he and apologists scream invectives at those who do investigate and report.
  • Kerry has refused to release his full military records by signing a DOD Form 180, and to release his journals (despite Brinkley exposing Kerry's lie that they were restricted by a contract with Brinkley). These records are necessary to the resolution of many gray and open items in Kerry's disputed Vietnam service, as many careful reporters and observers have publicly noted. Yet, the New York Times has failed to publicly demand that Kerry release his records.

Posted by Donald L. Luskin at 12:28 PM | link   

MORE GROSS INCOMPETENCE IN FINANCIAL JOURNALISM    It's amazing how close liberals can come to the truth -- so close they are tripping over it -- and still not see it. But ignorance and partisanship are powerful inhibitors to perception. Here's a Slate piece from Daniel Gross (whom we've encountered before) -- one of those know-nothing financial journalists who write in a know-it-all tone of voice that passes for expertise in most publications -- writing on how millionaires overwhelmingly support Bush, but billionaires support Kerry. Gross writes,
"The specter of plutocrats spending millions of their own hard-earned dollars to elect somebody who wants to raise their taxes is mystifying to the materialists at the Wall Street Journal editorial page and the Club for Growth, who think that man is a purely economic being who lives and dies by marginal tax rates alone. But to many people who have made f***-you money, taxes are a byproduct of wealth, not an obstacle to its creation. It's hard to find anybody who has made $1 billion, or $100 million, or even $50 million complaining about high marginal tax rates. Of all the luxuries massive wealth affords, one of the nicest is not having to worry about tax policy."
Believe me, the Wall Street Journal editorial page has understood for many years what Gross thinks is a new and exciting insight. Many, many times they've written about it -- putting it in far sharper terms than those of Gross: the rich have the luxury of supporting socialist policies that retard wealth creation, because they don't need to create wealth (they already have it); and, in fact, retarding new wealth creation blocks upstart competition. Yet Gross rhapsodizes about the enlightened rich, congratulating them for spending their time thinking about "the environment, education, foreign policy, the Supreme Court, social issues, stem-cell research, the war on drugs, whatever."

Thanks to reader Vivek Rao for the link.

Posted by Donald L. Luskin at 10:07 AM | link   


Monday, October 25, 2004

GEE, I WISH I'D WRITTEN THIS    Here's what we've been waiting for -- and what I should have done myself. A careful, accurate, point-by-point takedown of Kerry's mountain of misrepresentations about Bush's vision for reforming Social Security through individual accounts. Must reading if you want to really understand the issues at stake here and make your own decision about who's right. Thanks to Bruce Bartlett for the link.

Posted by Donald L. Luskin at 9:11 PM | link   

KRUGMAN ON THE COUCH   
A psychiatrist blogger takes on Paul Krugman: While granting that there is certainly a lot of hate in individuals of both sides (hate, after all, is a HUMAN emotion and all of us are human), the interesting thing about the hate that Krugman generates is that it is disguised and self-righteous. It is then "projected" onto Bush and the Republicans, so that he (Krugman) does not have to take any responsibiity for feeling that way. In Krugman's opinion, his way of viewing the world is the only correct way, so why should he have to provide any evidence? The Gospel according to Paul Krugman. So holy that he never needs to examine his own emotions, beliefs, or premises.

Some part of Paul Krugman recognizes that something dreadful is going on in the world, but he cannot face it directly because it is too threatening to his world-view and his holy scripture; and facing the truth might make him have to go into his own heart of hearts to examine the origins of that dreadful terror. Hence, displacing his anxiety to a less threatening authority figure (e.g., Bush/Republicans) is easier than facing the source of the anxiety.

The three psychological mechanisms (projection, denial, and displacement) that Krugman routinely displays in his writings are the source of almost all human misery, genocide, racism, anti-semitism, sexism, and now terrorism that we see all over the world. If Paul Krugman wants to know where [these] originate, then he needs to look in the mirror, not at the Republican Party.

Thanks to reader Christine VanDeVelde for the link.

Posted by Donald L. Luskin at 6:35 PM | link   

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OKRENT RESPONDS   
Arthur Bovino, assistant to New York Times "public editor" Dan Okrent has responded to my posting that, contrary to claims in Okrent's Sunday column, people who send him emails are not given an opportunity via auto-response to choose not to have their emails published. Bovino writes, "That's strange, I made sure it did on Friday...I'm trying to figure out why you didn't get a message which includes this." So maybe it's just a technical glitch. But does it really matter? It's still disingenuous for Okrent to even offer such a choice to readers (assuming he does really offer it) when he reserves the right to publish their letters over their objections anyway. He thinks it's fine to do so, when he wishes to punish a reader (whom he is supposed to represent) for what he calls a "grievous act," one similar to "vandalizing a church" as he puts it -- by which he simply means sending an angry letter to the Times.

Posted by Donald L. Luskin at 2:33 PM | link   

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DAN, WHAT YOU SAY ISN'T QUITE TRUE...   
I'm afraid I've caught New York Times "public editor" Daniel Okrent in what is commonly called nowadays a lie. In Sunday's column Okrent lamely defends himself for his over-the-top vilification of a reader in a column two weeks ago, over a mildly inflammatory letter the reader sent to Times reporter Adam Nagourney. Yesterday Okrent -- who calls himself the "readers' representative" -- apologized to this reader for calling him a "coward" -- but not for publishing his name and address without his permission. On that subject Okrent says,

Every message sent to my office gets an instant response asking if the writer wishes his or her name to be withheld.

That's simply not true. I have sent Okrent well over a hundred messages over the last ten months, and have never gotten this response. I sent a test message just now, and the instant response I got does not say what Okrent claims it says. The closest it comes is where it says:

If you do not wish your message to be relayed to other editors and reporters, be sure to let us know.

I've saved every response I've ever gotten from Okrent, and this is the same text he's been using for months. Okrent's home page on the Times web site doesn't even go that far, when it invites readers to write to Okrent.

Not that it matters. This email was sent to Nagourney, not Okrent, so he wouldn't have seen the response even if it existed. And Okrent never intended to give the reader the option to have his name and address withheld, anyway. Okrent told me two weeks ago, "I neither asked for permission nor felt it necessary." The reader says he "pleaded with your [Okrent's] assistant and Mr. Nagourney not to." So why even bother in the first place with the false claim that readers are given an option?

Okrent says in yesterday's column,

I published the name of the man who wrote to Nagourney for the same reason that newspapers publish the names of people who commit other grievous acts. The man who vandalizes a church, say, doesn't want his name in the paper either. But I don't think his wishes should protect him from public responsibility for what he has done.

It's a serious lapse of judgment on Okrent's part to act as though this letter -- which in no way threatened Nagourney -- is a "grievous act." It seems that Okrent has just had it up to here with the readers he is supposed to represent, because this particular reader's only "grievous act" was to express his strongly different opinion to an employee of the New York Times. If Okrent thinks that's anything like vandalizing a church, then his attitude about the Times is entirely too worshipful.

Okrent used the power of the Times to lash out at a reader who's only sin was needing Okrent's representation. His column yesterday is a further mis-step -- first by only apologizing for the trivial detail of calling the reader a "coward," and second by publishing a false claim about his policies with regard to the emails he receives.

Posted by Donald L. Luskin at 12:05 AM | link   


Sunday, October 24, 2004

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KRUGMAN -- ONE YEAR OF WEB SILENCE   
Today marks an interesting anniversary. As of today, it has been one full year since Paul Krugman made an entry on his personal web site. Since then, it's been a dead page.

His final entry was an outraged response to my column nailing him for his loathsome complicity in the anti-Semitism of Malaysian strongman Mahathir Mohammed. That was typical of how Krugman used to use the site -- to respond to his critics and to lash out at them. That, of course, just gave the critics more ammunition -- which led Krugman to take ever more extreme measures against him, such as publicly accusing me of stalking him (which he did just one week before he stopped updating his web page).

Now Krugman has realized that it's best to strike the pose of someone so authoritative that no response to critics is necessary. He hides, on the op-ed page of the New York Times, behind the skirts of editor Gail Collins, and behind the fig-leaf of "public editor" Dan Okrent, neither of whom are willing to hold him to even the most minimal standards of truthfulness. He gives lectures before adoring crowds, where questions from critics are filtered out. And he gives interviews to adoring journalists, to whom he can complain that it is he who is the victim of anti-Semitism, rather than its perpetrator.

Posted by Donald L. Luskin at 10:01 PM | link   


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