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  The Canadian Parallel Why have the Canadian banks fared better than American or British ones in the financial crisis? New York Times columnist Paul Krugman asks and answers the question in this morning's column: "Consider the counterexample of Canada — a mostly English-speaking country, every bit as much in the American cultural orbit as Britain, but one where Reagan/Thatcher-type financial deregulation never took hold. Sure enough, Canadian banks have been a pillar of stability in the crisis." Fareed Zakaria on Taxes One of the decisions faced by the 91-year-old new owner of Newsweek, Sidney Harman, will be what to do about columnist Fareed Zakaria. Leon Wieseltier memorably described him as a "black-tie barometer" and as "the consummate spokesman for the shibboleths of the White House and for the smooth new worldliness, the at-the-highest-levels impatience with democracy and human rights as central objectives of our foreign policy, that now characterize advanced liberal thinking about America's role in the world." Michael Ledeen describes him as "pathetic." Private Prisons "Can Privatization Kill?" is the headline over a New York Times op-ed piece decrying the privatization of prisons and border guards. The usual rule applies that if the headline is phrased as a question, the answer is probably "no." The article does do the service of highlighting what seems to be a new campaign against privately operated prisons. The Times article reports, "When Arizona's notorious SB 1070 immigration bill was passed, 30 out of 36 co-sponsors had received donations from private prison companies or their lobbyists." This Sunday, Fareed Zakaria's show on CNN had Mr. Zakaria asserting:
Zakaria's Tax Increases Fareed Zakaria's latest Washington Post column: "It is obvious that, with a deficit at 8 percent of gross domestic product, any solution to our budgetary problems has to involve both spending cuts and tax increases." It may be obvious to Mr. Zakaria, but it's not obvious to me. With federal tax receipts for 2011 at a nominal $2.3 trillion, the budget could be balanced by just bringing federal spending back to the 2004 level of about $2.3 trillion, which shouldn't be that difficult — 2004 was not that long ago. Yielding to Mr. Zakaria's logic would mean any politician who wants to ram through a tax increase should just go on a huge spending binge, run up a huge deficit, and then, afterward, argue that it is "obvious" that tax cuts are needed to pay for it. Zakaria's Tax Increases Fareed Zakaria's latest Washington Post column: "It is obvious that, with a deficit at 8 percent of gross domestic product, any solution to our budgetary problems has to involve both spending cuts and tax increases." It may be obvious to Mr. Zakaria, but it's not obvious to me. With federal tax receipts for 2011 at a nominal $2.3 trillion, the budget could be balanced by just bringing federal spending back to the 2004 level of about $2.3 trillion, which shouldn't be that difficult — 2004 was not that long ago. Yielding to Mr. Zakaria's logic would mean any politician who wants to ram through a tax increase should just go on a huge spending binge, run up a huge deficit, and then, afterward, argue that it is "obvious" that tax cuts are needed to pay for it. Private Prisons "Can Privatization Kill?" is the headline over a New York Times op-ed piece decrying the privatization of prisons and border guards. The usual rule applies that if the headline is phrased as a question, the answer is probably "no." The article does do the service of highlighting what seems to be a new campaign against privately operated prisons. The Times article reports, "When Arizona's notorious SB 1070 immigration bill was passed, 30 out of 36 co-sponsors had received donations from private prison companies or their lobbyists." This Sunday, Fareed Zakaria's show on CNN had Mr. Zakaria asserting:
 Pope Grover? CNN's Zakaria Sneers at Norquist's Tax Pledge: It's Like a 'Vatican' Pronouncement CNN host Fareed Zakaria wasn't just on NPR last week dismissing Fox News as a CNN competitor. He spent most of an hour on Fresh Air with Terry Gross on June 30 sharing his liberal "wisdom" and promoting his book on "The Post-American World." He may have encouraged the Chris Matthews 'fiscal Wahhabi" jag by comparing Grover Norquist's tax pledge to a "Vatican pronouncement." Pope Grover I? It came in this exchange:  Fareed Zakaria Casts Hezbollah as a Model of Religious Tolerance By uncritically relaying that Hezbollah respects Jews and is opposed only to Israel's occupation, CNN's Fareed Zakaria dramatically misinformed viewers about Hezbollah, which has repeatedly made clear its opposition to Israel's very existence and its contempt for Jews. Navigational Error at "Fareed Zakaria GPS" On his CNN show Fareed Zakaria GPS, Zakaria takes a wrong turn, falsely claiming that Israel annexed the West Bank and Gaza Strip. Also, the Turkish foreign minister dispenses falsehoods about international law and the IHH. The Canadian Parallel Why have the Canadian banks fared better than American or British ones in the financial crisis? New York Times columnist Paul Krugman asks and answers the question in this morning's column: "Consider the counterexample of Canada — a mostly English-speaking country, every bit as much in the American cultural orbit as Britain, but one where Reagan/Thatcher-type financial deregulation never took hold. Sure enough, Canadian banks have been a pillar of stability in the crisis." Fareed Zakaria on Taxes One of the decisions faced by the 91-year-old new owner of Newsweek, Sidney Harman, will be what to do about columnist Fareed Zakaria. Leon Wieseltier memorably described him as a "black-tie barometer" and as "the consummate spokesman for the shibboleths of the White House and for the smooth new worldliness, the at-the-highest-levels impatience with democracy and human rights as central objectives of our foreign policy, that now characterize advanced liberal thinking about America's role in the world." Michael Ledeen describes him as "pathetic."
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The Future of Freedom: Illiberal Democracy at Home and Abroad
By: Fareed Zakaria
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