James Pethokoukis

John Wayne Syndrome: Americans like tall, square-jawed presidents during tough economic times

August 18, 2009

Will Americans go big in 2012? President Obama is a smidgen under 6’2″, Mitt Romney is 6’2″, Sarah Palin is 5’5″ … Tell us more, New Scientist:

America’s new love affair with Treasury bonds

August 18, 2009
The always perspicacious Andy Busch of BMO Capital Markets notes how US households are suddenly into bonds — and then looks around the corner:
This has been the major, major shift in the structure of the US Treasury market that was unanticipated. From Q1, US households held $643.9 billion in Treasury debt and that is up from $256.6 billion in Q4 2008. Households bought an astounding 84% of new US Treasury issuances in Q1. The total holdings represent about 1% of US household assets. According to the WSJ, “Although that is the highest since 2001, Treasurys regularly made up 5% of assets in the 1950s, and as recently as 1995 they were 2.6% of assets. History suggests there is plenty of room for households to increase their holdings.”

Best campaign tag line …

August 18, 2009

… comes from my pal Dan Proft who is running for governor of Illinois: “Illinois isn’t broken. It’s fixed.” Nice.

Why Medicare is a beloved fraud

August 18, 2009

First a few numbers on U.S. healthcare, courtesy of Ed Yardeni:

1) Federal spending on Medicare combined with Federal and State spending on Medicaid over the 12 months ending July totaled a record $923.5bn.

Is this what a U.S. third party would look like?

August 18, 2009

Thinker extraordinaire Joel Kotkin gives an outline:

Given this sad political picture, the best hope now is to build an alternative perspective that focuses on the basic economic issues. This would not be the media celebrated movement of moderates–Democrats-lite and Republicans-lite–who seek kumbaya through compromise. It would, instead, require a radical third tendency–neither strictly left or right–that would draw on long-term American priorities and values.