Thomas Sowell

There has probably never before been as drastic a decline in the quality of vice presidents as there has been when Dick Cheney was replaced by Joe Biden. Yet the New York Times is lionizing Biden as a wise counselor to President Obama. When you support the liberal agenda, that makes you brilliant ex-officio in the media, whether or not you are vice president-- and whether or not you have even common sense.

Government pressures on mortgage lenders to accept less than the full amount they are owed may win votes for politicians, since there are far more borrowers than lenders. But how much future lending can be expected when the lenders know that politicians are ready to intervene at any time to prevent them from getting their money back?

Some people think that the Obama administration is going to get rid of Secretary of the Treasury Timothy Geithner, making him the scapegoat for its economics failures. This would be consistent with the President's acting as if the people under him are not carrying out his policies. But if they get rid of Geithner too early, that will not help if things still do not get better after he is gone and before the 2010 elections.

People who are urging us to do things to win the approval of other countries seem to put an excessive value on other country's approval, as distinguished from their respect that we can lose by such bowing to "world opinion." Do the world champion New York Yankees try to curry favor with teams that are also-rans?


Thomas Sowell

Thomas Sowell is a senior fellow at the Hoover Institute and author of The Housing Boom and Bust.

Creators Syndicate