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A Quick Look at Bloomberg News's Opinion Section for March 9, 2012

Maybe Chicken Little had a point after all. "On the eve of daylight-saving
time, came a solar storm that was expected to beat the daylights out of the
Earth’s magnetic field," warn the View editors. "Earthlings braced for
breakdowns in radio and satellite communications and possible damage to
electricity grids. Nothing bad happened, as it turned out. Depending on a
solar storm’s magnetic orientation, it can be large and fast yet still
harmless. That’s what happened this time. Do not rest easy. More and greater
magnetic activity will continue in the months ahead as we close in on the
so-called solar maximum in 2013, when activity in the sun’s magnetic field
reaches its 11-year peak." [2]Link.
Links:
2. http://bloom.bg/x16Hyl

If the dangers of solar storms are underestimated, those of oral birth
control are overstated, according to View columnist Virginia Postrel:
"Making the pill available over the counter could reduce the amount of
outrage and invective available for entertaining radio audiences, spurring
political fundraising and otherwise amusing the American public. But the
medical risks are quite low." Once again, leave it to the market. [3]Link.
Links:
3. http://bloom.bg/AvMZ5d

"The U.S. unemployment rate is 8.3 percent," notes op-ed contributor Matthew
Yglesias. "In North Dakota, however, it was just 3.3 percent in December,
the latest month for which figures are available. There’s no mystery about
why North Dakota is booming: They’ve struck oil! Production has increased
more than fourfold since the beginning of 2008 and shows no signs of slowing
down. And where there’s an oil boom, a jobs boom follows." Yet we haven't
noticed many workers following that boom. "Why don’t they?" asks
Yglesias. "The first reason is housing costs. So many people have already
moved to North Dakota that there’s no place to put them." [4]Link.
Links:
4. http://bloom.bg/wlDEdQ

China hasn't played fair on the yuan's valuation, but the U.S. has bigger
problems with the growing power, writes op-ed contributor Samuel Sherraden:
"Complaints from U.S. leaders about China’s currency manipulation may be
misplaced and leave America more vulnerable to a Chinese economic decline.
Rather than stoke the fire over currency manipulation, U.S. officials should
consider reducing exposure to China through trade and financial flows and
assess what stimulus and pro-growth measures America would undertake if
China’s growth waned. At the same time, the U.S. should continue to pressure
China to transition from growth driven by net exports and investment, to
growth driven by greater household consumption." [5]Link.
Links:
5. http://bloom.bg/wwUDtr

"Right after a Delaware state judge issued his ruling last week in a
shareholder lawsuit contesting Kinder Morgan Inc.’s purchase of El Paso
Corp., the public finger-wagging aimed at Goldman Sachs Group Inc. began,"
notes columnist Jonathan Weil, who doesn't think the top bank on Wall Street
will pay much attention. "While it’s always fun to fantasize about Goldman
losing at anything, one gnawing question stands out: What exactly did the
company lose? The answer is nothing, as far as I can tell. Actually, it won
big."

Also, the View editors want the Germans to follow their leader; columnist
Jonathan Alter looks at the latest online political revolution; and World
View contributor Adam Minter reports on a firestorm over the Nanjing
Massacre.

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