Friday, October 26, 2007

Eternal Pessimists

It is a continual the glass half-full or half-empty? Pessimism abounds in the media.

These links today struck me as perfect examples of how every silver-lining has a cloud:

Joe Klein of Time is fishing for bad news in Iraq:

The apparent progress raises two questions: First, as always, what's the catch? And second, if the progress is real, if the Sunni extremists have been routed, if Baghdad has been ethnically cleansed to the point of near pacification, if the bottom-up reconciliation efforts are gaining momentum, what is the U.S. military mission now? Why can't we start bringing home the bulk of our troops immediately?

Paul Krugman, the pessimist's pessimist is at it again. The naysayers were right and the rest of wrong. As usual.

Krugman is actually right this time and there are plenty of negative things to be said about the sub-prime lending mess that we're working ourselves through these days. Krugman's problem, however, isn't his argument or logic--as I said, he's right on this.

It's the persistently and routinely pessimistic outlook that gets him in trouble. He's been predicting recession for going on 5 years now.

Like the proverbial blind squirrel who can't help but stumble upon an acorn, he's bound to be right at some point. But in the meantime, he's cried wolf so often I'm left wondering who is left to hear, much less heed, his warnings.

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