Economics professor Daniel B. Klein and Zogby researcher Zeljka Buturovic recently surveyed nearly 5,000 people who variously self-identified as progressive/very liberal, liberal, moderate, conservative, very conservative, and libertarian. Respondents were asked to answer eight questions about basic economics. Responses were rated not on their adherence to any particular left/right ideological view, but in terms of their knowledge of basic, observable, real-world cause-and-effect. Rather than looking at correct responses, or at responses that could be seen as arguably correct, the researchers focused on the responses that were, as they put it, “flatly unenlightened“:

How did the six ideological groups do overall? Here they are, best to worst, with an average number of incorrect responses from 0 to 8: Very conservative, 1.30; Libertarian, 1.38; Conservative, 1.67; Moderate, 3.67; Liberal, 4.69; Progressive/very liberal, 5.26.

Americans in the first three categories do reasonably well. But the left has trouble squaring economic thinking with their political psychology, morals and aesthetics.

Yes, the same left who relentlessly campaign to establish an economic caliphate with them in charge.
This next finding goes a long way towards explaining the current state of affairs in the US:

The survey also asked about party affiliation. Those responding Democratic averaged 4.59 incorrect answers. Republicans averaged 1.61 incorrect, and Libertarians 1.26 incorrect.

(h/t ghostofaflea)

… can’t be a good thing when almost 80% of Ontario’s trade is with a country happily crushing itself in debt:

President Obama’s budget forecast reflects a cock-eyed optimism about our fiscal future, yet even it projects total U.S. debt will rise from 2009’s 53 percent of GDP to 90 percent by 2019. “Most economists,” Sen. Judd Gregg (R., N.H.) notes, “will tell you that an economy can handle between 30 and 40 percent debt as a percentage of GDP. But a nation’s economy starts to get into trouble when that ratio gets up around 60 percent of GDP. When it gets up to 80 percent of GDP, basically an economy can’t handle that for very long.”
The day of reckoning may already be here, according to a new study by the International Monetary Fund. It pegs our “general government gross debt” for 2010 at 92.6 percent of GDP. By 2014, the IMF estimates, government debt will pass the 100 percent–of–GDP tipping point (hitting 106.4 percent to be exact) and keep on going. To forestall a Greece-like fiscal catastrophe, the IMF says, lawmakers must act now to reduce government debt by more than $1.6 trillion. Instead, Congress is looking to pass an “extenders” bill that will run up hundreds of billions more in debt.

… the whole dangerous state of affairs is made all the more bizarre when one realizes that Ontario, among other provinces, is bound and determined to join its main trading partner in leaping off the debt cliff.

How sporting would you say this was?

The Ontario Teachers’ Federation says it objects “in the strongest possible terms” to Nipissing University’s plan to confer an honorary degree on former Ontario premier Mike Harris — going so far as to suggest its members will not place the university’s student teachers if the ceremony goes ahead.

…

[Association President, Reno Melatti] said some teachers have indicated that they may “reconsider” accepting student teachers from the university for their mandatory placements in schools.

Mr Melatti’s list of demands, ahem, letter of protest to the Nipissing U Board of Governors can be found here.

Ignatieff tried very hard to change the channel on Sunday. This lead to much clapping and huzah from Liblogs. “Exactly the right tone.”…etc.
Of course, Mr Rae couldn’t have that. Off goes the attack poodle. This lead to much consternation on Liblogs.

If you’re of the inclination…I know, they’re only primaries, but still….

… or spitting llama?

The Obamas will attend the star-studded gala at Ford Theatre featuring singer Kelly Clarkson, comedian George Lopez, actor Dick Van Dyke and others. Ty Burrell of ABC’s “Modern Family” will host.
South African Archbishop Desmond Tutu and South African Constitutional Court Justice Albie Sachs are to receive the Ford’s Theatre Lincoln Medal.
The event will be televised as America Celebrates July 4th at Ford’s Theatre on July 2 by ABC.
For sure Michelle will wear a “stunning” gala gown but this time the gown will stand out against a sickening background of muddy oil covered birds and beaches.
I hope Michelle has selected the worst possible dress for this inappropriate event. They should have canceled Sir Pall and this gala 2 weeks ago.
UPDATE – And the wait was rewarded: Michelle looks like a seal in a silver spandex wetsuit.

Of course, some will be all a-flutter.
Update: Nero Fiddles