naked capitalism

River says:

I am overjoyed that we once again have a president that can put together and utter a coherent sentence.

Being president requires many skills and much political saavy…a president that is secretive, a divider, a liar, and disrespects the constitution, treaties, and the law of the land, cannot succeed. President Bush has proven that. Let us hope that we never elect another of Bush’s ilk.

Congratulations president elect Obama. You have a tough row to hoe and I wish you the best in your efforts.

River says:

Most presidents probably come to the office with more than a little help from serendipity.

In retrospect, viewed from two years in the past, Obama’s election might qualify as a Black Swan. Viewed from the aspect of today, his election might not qualify as a Black Swan.

It would be interesting to hear Taleb’s take on this question. Taleb did make the point that we tend to look at events in the current light and explain away by retrospective analysis events that are truly Black Swans.

River says:

Off Topic:

ADP Says U.S. Companies Reduced Payrolls by 157,000 (Update2)

By Bob Willis

Nov. 5 (Bloomberg) — Companies in the U.S. cut an estimated 157,000 jobs in October, the most in almost six years, a private report based on payroll data showed today.

The drop was larger than forecast and followed a revised 26,000 decrease in September that was bigger than previously estimated, ADP Employer Services said. The decline in employment was the biggest since November 2002, when the U.S. was emerging from a recession.'…snip…

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a2OzImh4VYmA

daily reader says:

Yves,

Congrats on the Obama’s victory. Becareful what you wish for…$5.2B spent on the election…what! We’re in a recession????

Arline Stewart says:

And the beat goes on.

From the New York Times this morning by Mr. Shapiro, an investigative reporter and lawyer.

“The treatment President Bush has received from this country is nothing less than a disgrace. The attacks launched against him have been cruel and slanderous, proving to the world what little character and resolve we have. The president is not to blame for all these problems. He never lost faith in America or her people, and has tried his hardest to continue leading our nation during a very difficult time.”

“Our failure to stand by the one person who continued to stand by us has not gone unnoticed by our enemies. It has shown to the world how disloyal we can be when our president needed loyalty — a shameful display of arrogance and weakness that will haunt this nation long after Mr. Bush has left the White House.”

Written with the depth of a high school student about a man unqualified to run for any office, proven by his graven failure as president, perpetrated on a public unprepared for dirty election tricks on a level and scope unprecedented in recorded history, a man who showed nothing but disrespect and contempt for his own people, for the press, for the military personnel under his command, for the nations of the world; a man who in fact spread fear in the hearts of the people of his own country, and in general represented the craven interests of the profiteering class in full view with no shame.

A pathetic man worthy of nothing but pity who will do us all a favor by going back to Crawford to chop wood for the rest of his life.