In case you’ve already resumed sleeping normally after my prior post on the EMP threat, the Wall Street Journal has more to remind you of the danger.

That’s what the Fed is pledging to “rescue the financial system,” according to Bloomberg.com. That’s 50% of 2007 GDP, or 288% of 2007 federal tax revenues. Makes my prior post sound look like a praise of good budgeting.

That’s what the so-called “financial crisis” of 2008 has cost the federal government directly… so far.* Wonder how that stacks up to other crises? CNBC has a slideshow showing the costs (inflation-adjusted) of some of the biggest government projects ever.
There are many events not listed in that slide show, of course. Two of the most [...]

For all the Lucas/Spielberg/Williams fans out there (and probably most of the critics, as well), I present the best use of YouTube I have seen in a while.
(h/t American Elephants)

I am ditching my old, Chicago-area code (773) cell phone and switching to a Houston number. Please direct all calls and texts to 713-876-6095. Thanks!

It’s the best one-image summary of why the Detroit Three are in such hot water, and it’s on Michigan economist Mark Perry’s blog.
(h/t Greg Mankiw).

“Indeed you can usually tell when the concepts of democracy and citizenship are weakening. There is an increase in the role of charity and in the worship of volunteerism. These represent the élite citizen’s imitation of noblesse oblige; that is, of pretending to be aristocrats or oligarchs, as opposed to being citizens.”
- John Ralston Saul

Elliott Wave International asks, “Are stocks really a bargain?” If you believe your eyes, the answer is pretty clear.
P.S. In case you were wondering what the current DJIA dividend yield is (click the link above to see why this is relevant), you can see that here.

The National Review features a fantastic piece by Alexander Benard and Anthony Dick on America’s True Genius. The thesis: change does not make a nation great, and it certainly is not what has made America great. Rather, it is the constitutionally-mandated stability of our system of laws – the difficulty of implementing radical change – [...]

Let’s all hope this, at least, does not repeat. It’s a miracle the American Dream has survived this long.