KEVIN'S LAW. Kevin Drum proposes a new principle of net-based discourse: "If you're forced to rely on random blog commenters to make a point about the prevalence of some form or another of disagreeable behavior, you've pretty much made exactly the opposite point."


    THE CASE AGAINST THE DLC. Meanwhile, up in America's Dairyland, Senator Russ Feingold has pretty much had it. This is the best argument yet made against the DLC by someone not named David Sirota. (And certainly better than my perennial favorite, "Let's Get The Jaws Of Life And Pry Al From Out Of The Hospitality Suite.") More than anything else, the DLC created a generation of gun-shy Democrats, and that was fine, as long as we could be reasonably confident that the other side would not throw the entire United States government into the monkeyhouse.


    HAWK REVISIONISM. It's pretty disappointing to see the genuinely estimable Thomas Edsall trying to cram the Connecticut primary into a very clich� tale about how Democrats lose elections because primary electorates are "dominated by an upscale, socially (and culturally) liberal elite." For one thing, the image of Joe Lieberman as a scion of working class populism ill-fits his actual political profile. Indeed, as he himself took to emphasizing during the primary, he's generally loyal to all the key planks of the liberal interest group checklist, including, say, support for legal late-term abortions.


    DEPOSITIONLAND. Just in case anyone has forgotten, there's still a president of the United States who answers only to the voices in his head. When he looks into a mirror, they tell him he's a king. Two stories in the last couple of weeks -- this one and this one -- evince not only the delusional view of Executive power held by the White House and its pet lawyers, but also a certain unease with what may happen this fall. It is possible -- how likely I will leave to the numbers-crunchers -- that one or both houses of Congress will fall into the hands of the Democrats.


    ON JESSE. When Schmitt says something, one pays attention, so I�m thinking about my lumping Jesse together with Sharpton yesterday.

  • What Do Plunging Mortgage Applications Mean?

    It could mean less demand in the housing market. The Mortgage Bankers Association released the results of its weekly mortgage applications survey yesterday. While the weekly number for purchase mortgages was up slightly, the 4-week moving average was down and now stands more than 20 percent below its peaks last year. The refinance index is down by more than 50 percent. (The survey covers approximately 50 of mortgage originations.)

    Remarkably, this important and timely data on the housing market appear to have been ignored in the NYT, WSJ, and Washington Post.

    --Dean Baker

  • Mortgage Rates Will Stay Low, Why?

    With the housing market clearly in a slump, the New York Times had a piece this morning asking how fast the housing market is heading down. In presenting the case for a gradual and limited decline the article asserts that �mortgage rates are still relatively low and look to stay well below rates common in the past.�

  • The Joe Lieberman Nobody Knows

    Obviously Joe Lieberman was defeated because of the war. Three term incumbents don�t lose primaries because of their personal peccadilloes. But there is a side to Joe Lieberman that very few people are familiar with. Joe Lieberman played an important role in laying the basis for the accounting scandals of the stock bubble era.


    JACKSON, LAMONT, NEW POLITICS. Mike has a point about the implications of having Al Sharpton on stage with Lamont, and in particular directly behind his shoulder, which will be the visual. Someone up there needed to say, "OK, everyone who's not from Connecticut, to the edges, right now, and yes, that means you too, Reverend!" (The person who does that is called "the body guy," and it's a special skill.)


    JOBS FOR JOE. Mark Schmitt�s right-on observation that the Democrats need to find some graceful way to ease Joe Lieberman out of the race should get us all thinking about some suitable, dignified alternative careers for Connecticut�s junior senator. Herewith, some modest proposals:

    A Lieberman-McKinney Vaudeville Act. Yesterday�s losers make omelets of their broken careers by devising a sketch that can be performed in almost any venue with a minimum of costly scenery. It would go something as follows: Lieberman starts, lecturing the audience with a moral homily. Then McKinney pops him one. Curtain.