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Newsweek’s Daniel Gross explains the Consumer Price Index (here’s the official BLS site) in a very simple video. I could do without the goofy sound effects, but it’s a good, 2 minute explanation of how the government tracks inflation.

Per David Simon’s Berkeley talk, though, the video doesn’t go into why this matters. Perhaps they’ll cover that in the next installment of the Economics 101 series.

(via @newsweek, Newsweek’s Twitter feed)

2:42 pm | leave a comment
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While in Columbia today, John McCain claimed he never said he wasn’t an expert in the economy. This is, of course, pretty much a lie. It’s also part of a pattern where McCain will 180 on an issue simply because of who he’s talking to or which interest group spoke to him last. The Carpetbagger Report has a comprehensive list of his complete flip flops on key positions ranging from the environment and oil policy to the economy to social security. There literally isn’t a policy area in which McCain hasn’t done at least one 180 with the sole exception of some social issues.

Read the list, watch the clip.

The media loves this man too much to criticize him fairly, so it’s pretty amazing to see Cafferty up there basically calling it like it is (a shock coming from The Situation Room, I know).

Granted, Cafferty hasn’t had a beat that the McCain magic (as described by Jay Rosen in the link above) could work on him. And perhaps that’s an advantage in this case.

I’ll let the video and links above do the rest of the commentary. Gotta get back to work.

9:24 pm | leave a comment

McCain’s descent into right-wing pandering hell continues. These issues don’t mask good governance, and McCain is showing poor judgement by burning bridges on those issues where he’s shown good, nuanced policy judgement.

(via this site)

7:14 pm | leave a comment