Friday, May 20, 2022

The 70s Are Back...With a Vengeance!


Friends, Niall Ferguson is a thoughtful, insightful fellow -- he kinda reminds me of myself -- so it's no surprise that I highly recommend his article about how our current predicament tracks in certain intriguing ways with the broad-based "malaise" of the 1970s.  He sees a recession in our future, possibly a deep one, although not until 2023.  Could our present downturn be just a foretaste?  Let's wait and see (I mean, what's the alternative?)...


It's dangerous to allow ourselves to get too giddy about Republican prospects in November, but this article suggests that, based on one important metric, the GOP is very well positioned, indeed.  Take it for what it's worth. 

Finally, the war in Ukraine doesn't appear to be headed for a speedy resolution, but one chapter has finally come to a close: resistance at the Azovstal steel facility is kaput.  It will be fascinating to see how the conflict takes shape in the weeks and months ahead.  Obviously, the fate of the Ukrainian people hangs in the balance, but so, in a very real sense, does the fate of the world.


  1. Dr. Waddy from Jack: The Ferguson articlewas very well argued and supported. I remember the '70's as a long hangover from the chimera of the preposterous Age of Aquarius. My boomers were realizing that they were faced with life bereft of that fantasy. The result? Polyester leisure suits, Manilow style music, Carter's daring haircut and a counterintuitive return of common sense exemplified by President Reagan.

  2. Dr. Waddy from Jack: The real America has been stung to the quick by the dems' open acknowledgement that their interests are best served by the radical left. The grim determination of the real America to politically hobble this existential threat to all we value will, I think, counter any foolish presumption of victory. We will turn out! It is pleasant to see empirical evidence of dem disaster and obvious dem panic and it will help to pass the time until we have the delicious chance to redeem our country! We must put a barrier around this now obviously incompetent and mentally irresponsible President by limiting his influence to the executive branch alone!

  3. Dr. Waddy from Jack: The Rus appear to have increased the ferocity of their offensive in the east. Can they sustain it? There is plausible reason for doubt. What do they want? Apparently: to secure Crimea and Eastern Ukraine to their control and perhaps, to cut Ukraine's access to the Black Sea. The latter could have catastrophic consequences for Ukraine's economy and for those regions which depend on prolific Ukrainian grain exports. Would Russia trade a thus acquired stranglehold on Ukraine's economy for a material guarantee of "no Nato in Ukraine''; eg Russian bases on Ukraine's Nato borders? But a Rus closing of Ukrainian ports, having international import, might prompt international naval response!

  4. Jack, if there's a picture somewhere of you in a leisure suit, I WANT TO SEE IT!!!

    Jack, I hesitate to speculate on "what Russia wants". Might they settle for the Donbas and the south? They might. Might they go "all in" and fight on until the entirety of Ukraine is occupied? They might. Might they grow frustrated and accept defeat, with only a tiny fig leaf to cover their shame (like ambiguity on Ukraine's future in Europe)? They might. I'm beginning to think that even Russia doesn't know what Russia wants! One thing I'm pretty sure of, though, is that Russia's pride has been offended, and that could engender a good deal of intransigence.

  5. Dr.Waddy from Jack: The leisure suit, constructed then of the itchy and suffocating "polyesta" of the time, was the crowning abomination of the '70s! God forbid I should have donned it!

  6. Ha! I stand corrected. What about long hair?