May 13, 2013 Rabbi Nathan Lopes Cardozo: Why the giving of the document that would permanently change the world could only be done in desolation David G. Savage: Church-state, literally? Supreme Court weighing public school graduation in a church Emily Alpert: Recession dragged down birth rates for less-educated women Morgan Housel: The deep downside of home ownership Peter Teffer: Will Dutch police soon be stalking cybercriminals on your computer? Heidi McIndoo, M.S., R.D.: Meatless 'meat' can have its own set of problems The Kosher Gourmet by Diane Rossen Worthington: Celebrate! This must-try appetizer is delicate yet has depth of flavor: Corn-Leek Cakes with Caviar, Smoked Salmon and Creme Fraiche May 10, 2013 Rabbi Berel Wein: Be all that you should be Caroline B. 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Twerski: The world is a mirror Caroline B. Glick: Time to confront Obama Clifford D. May: Defense in the Age of Jihadist Terrorism Kimberly Lankford: New strategies ease pain of paying for long-term care insurance Howard LeWine, M.D.: Ask the Harvard Experts: Too much ibuprofen? Sharon Palmer, R.D.: How to feel your best -- with plenty of energy, a healthy weight and optimal mental and physical function -- without driving yourself batty Jewz in the Newz by Nate Bloom: Jewish Major Leaguers, 2013; New Movies and Comedy Show; Shalom, 'Lumpy' (Leave it to Beaver) The Kosher Gourmet by Emily Ho : A bright and cheerful salad to herald the warmer months ahead April 24, 2013 Steven Emerson: Boston Bomber Exposes Islamist Secret Top Muslim cleric boycotts inter-faith dialogue conference attended by 'Jews' Morgan Housel Admit it: No one has any idea what's going on Harvard Health Letters: Can you get headaches from headache medication? 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Seek a second opinion The Kosher Gourmet by Diane Rossen Worthington: Corn and Curry Add Zing to Chilled Soup April 15, 2013 Rabbi Yonason Goldson: The Death of Education? Kristen Chick: Egyptian Christians respond with harsh words to attack -- rocks, Molotov cocktails, and gunfire -- against main cathedral Marcy Darnovsky and Karuna Jaggar: High Court to decide if you should own your DNA Howard LaFranchi: US bracing for more Russian blowback after taking action against 18 more human rights violators Kristin Ohlson : The loneliest fight The Kosher Gourmet by Dana Velden: A tasty, rich dish that hints at spring's arrival while still anchored in a favorite winter staple

Jewish World Review Feb. 10, 2009 / 16 Shevat 5769 How ‘stimulus’ prolongs pain By Dick Morris & Eileen Mc Gann http://www.JewishWorldReview.com | FROM Nouriel Roubini, the economist who most closely predicted the current mess, comes a warning couched in economic jargon that needs to be deciphered and publicized. In a column on Forbes.com, Roubini warns that the United States, in its response to the economic crisis, may be following in the disastrous footsteps of Japan - whose sluggish and overly lenient response to a financial crisis led to a decade of economic misery. In economic jargon, Roubini warns: The "market-friendly, case-by-case approach to the necessary debt reduction of insolvent private non-financial agents - corporate for Japan, households for the US - will be too slow." He calls for an "across-the-board debt reduction" - lest we be condemned to a "systemic debt overhang." In English, this means that by helping people to stay in homes they can't afford, buy cars beyond their means, pay for college through loans - in short, to acquire goods and services on credit they can't sustain -we are doing them no favors. Instead, we're assuring that debt will "overhang" their lives like a vulture sitting on a branch, inhibiting their buying habits and inhabiting their nightmares. But if we force an "across-the-board debt reduction" that makes them move out of their overpriced homes, trade in their luxury cars, transfer to state colleges - and, if necessary, escape from under their credit-card debt via bankruptcy, we can eliminate the "overhang" and let them and our nation get on with their lives. Roubini realizes that this approach is "not politically feasible, at this point, in the US." But it must become feasible. Remember, it was kindness that got us into this mess in the first place. It was the willingness of Fannie Mae to buy up mortgages that could never be repaid and the availability of low-interest student, car and home-equity loans that encouraged people to live beyond their means and thus spread this miasma of bad debt over our nation's economy. And let us also remember how Japan's and Europe's soft-love economic policies served them so ill in the last 30 years. In Japan, banks that should've failed were allowed to live on. Employees who should have been laid off got lifetime-employment guarantees. Companies that should've gone under were propped up. But Japan's deficit spending didn't work - all its economic stimulus fell flat. As economist Barry Elias notes, Japan raised its "gross government debt as a percentage of GDP" from 45 percent in 1989 to 170 percent today" with no real effect. Companies in both Western Europe and the United States faced the opportunity to raise productivity through the new information technologies that became available in the 1990s. In the US, firms were free to fire workers who became redundant as a result of the new computer systems. In Europe, they couldn't. As a result, the US grew rapidly in the last 20 years while Europe stagnated. The lessons from all of this evidence is that by helping households stay in their homes, cars, colleges and lifestyles through bailouts or stimulus spending, we're killing them with love and consigning the United States to live in the permanent shadow of a debt overhang that will inhibit consumer spending, corporate expansion and economic growth. Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here. JWR contributor Dick Morris is author, most recently, of "Fleeced: How Barack Obama and Hillary Clinton, Media Mockery of Terrorist Threats, Liberals Who Want to Kill Talk Radio, the Do-Nothing Congress, Companies ... Are Scamming Us ... and What to Do About It". (Click HERE to purchase. Sales help fund JWR.) Comment by clicking here. Dick Morris Archives © 2009, Dick Morris

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