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Articles Archive for March 2009

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[25 Mar 2009 | 5 Comments | ]

As the stock market wobbles and people watch their life investments disappear, it’s troubling –more than troubling –to see President Barack Obama laughing about the situation.  In his appearance Sunday on CBS’s 60 Minutes, Obama laughed out loud when talking about how bad the situation is.  He giggled to the point that the interviewer asked him if he were punch drunk. Obama said, “no”, he was just injecting some “gallows humor”.
On Monday morning news shows, democrat strategist Bob Beckel acted as an apologist for the president and likened Obama’s inappropriate …

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[25 Mar 2009 | 9 Comments | ]

What can authenticist Catholics do about Notre Dame which has invited Barack Obama to be its 2009 commencement speaker-an invitation Obama has accepted?
Catholics can…(a) write the president, Rev. John Jenkins, CSC but will get a very nice letter back. They can (b) write the president of the U. S. Conference of Catholic Bishops, Cardinal Francis George and they will get a very short, crisp letter back saying he does not have jurisdiction over Notre Dame, thank you and please pray for me as I pray for you as we pray …

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[25 Mar 2009 | 22 Comments | ]

I consider myself something of a Notre Dame man.  I attended the University of Notre Dame my freshman year, just before entering the college seminary.  This was 1977-78, the year that the football team, under the coaching of Dan Devine and the quarterbacking of Joe Montana, won the national championship and the basketball team, led by Digger Phelps, made it to the final four.  In the fall and winter of 2002-03, I spent a wonderful sabbatical at Notre Dame, teaching a course in the Doctrine of God to undergraduates and …

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[24 Mar 2009 | No Comment | ]

Frightening Words.

Words I never, ever, expected a reporter to ask a president:
“Are you punch-drunk?”
They’re frightening. Unnerving. No one had been moved to ask this even of Richard M. Nixon when he was so unnerved by the prospect of impeachment that he was saying goodbye to the oil paintings on the wall… and when he asked a startled Henry Kissinger to kneel down in the Oval Office and pray with him.
But the words were asked incredulously by…not a conservative talk show host or a Republican critic…but by Steve Kroft for the …

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[24 Mar 2009 | No Comment | ]

Less than a year ago, inflation was a serious issue.  Oil was trading at $145 per barrel and the consumer price index (CPI) was up 5.6% between July 2007 and July 2008 – the fastest inflation in 17 years.  At the same time, producer prices were up 9.9%, with the “core” PPI up 4.6% at its peak
But in the second half of 2008, as velocity collapsed, inflation vanished into thin air.  As oil prices plummeted, the CPI fell at a 12.4% annual rate in the last three months of 2008.  …

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[24 Mar 2009 | 31 Comments | ]

Throughout the presidential campaign until now, well into President Obama’s first 100 days, I have been waiting for some pundit to explain how Obama is like Jimmy Carter. Nobody has, so I guess the job falls to me.
As political editor of the Atlanta Constitution, I covered Carter as governor of Georgia and as president. He was a calculating, dissembling politician who pretended to be something else.
As a freelance writer, I covered Obama as a U.S. senator and presidential candidate. He was a calculating, dissembling politician who pretended to be something …

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[23 Mar 2009 | 4 Comments | ]

Bad grades were predictable when President Obama appointed Chicago school superintendent Arne Duncan as Secretary of Education. More affable and less toxic than another contender, New York’s Joel Klein, Duncan still signaled a continuation of the technocratic “reform” approach to education crystallized in Bush’s widely discredited No Child Left Behind (NCLB) legislation.
In Chicago, Duncan was open to innovative ideas to a limited extent, but his reputation for success—challenged by many progressive educators—boils down to his hard-line reliance on standardized test results as the be-all and end-all of a school’s survival. …

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[23 Mar 2009 | 3 Comments | ]

When the former Speaker of the US House of Representatives, Newt Gingrich,  a
one time professor with a doctorate in history from Tulane University, was
leading a Republican majority in Congress, his vitriolic critics routinely
assailed him for neglecting his duties while profiteering from his publishing
ventures. Gingrich wrote or collaborated on five books from 1994 through the
time of his resignation from the Congress in 1997. His vocal detractors claimed
that these literary exercises, which included a work of fiction, an
autobiography and three politically themed titles, interfered with the speaker’s
official duties.
How the times have changed! …

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[22 Mar 2009 | 6 Comments | ]

1: Has anyone checked to find out if the Obama people ever paid the city of Chicago for the Grant Park election night victory rally…or is that discourteous for anyone in the media to ask? We don’t want to interpose on The Messiah at an inconvenient time right after he told Jay Leno that he was “astounded” on hearing of the AIG bonuses when the circumstantial evidence is beginning to show his anger is feigned and that he knew all the time-only to decide to get theatrically worked up when …

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[21 Mar 2009 | One Comment | ]

Capitalism has been wounded by the global recession, which unfortunately will get worse before it gets better. As governments continue to determine how many restrictions to place on markets, especially financial markets, the destruction of wealth from the recession should be placed in the context of the enormous creation of wealth and improved well-being during the past three decades. Financial and other reforms must not risk destroying the source of these gains in prosperity.
Consider the following extraordinary statistics about the performance of the world economy since 1980. World real gross …