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The Latest Opinions From Bloomberg View

September 11, 2014

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WAR
The Editors:"In his nationally televised speech last night, U.S. President Barack Obama had two main tasks: Describe clearly the threat from Islamic State militants in Iraq and Syria, and lay out a credible strategy for confronting it. He largely succeeded and now faces a third task, more difficult and important: sustaining the fragile consensus in support of his plan."
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CURRENCY
Mohamed A. El-Erian:"Currency markets are back in the news as the U.S. dollar has gained sharply against the euro and yen, and jitters about Scottish independence have hit the pound. So far, though, analysts are largely missing an important potential consequence of the gyrations: They could erode the broader financial stability that central banks have worked so hard to achieve."
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U.K.
Megan McArdle:"It seems entirely possible that come Sept. 18, the world will see an independent Scotland for the first time in centuries. My basic position on this sort of thing is that if places want to be independent, they should be independent, unless the reason that they're seeking independence is so they can have more freedom to oppress minority populations. Yet I can't say this seems like a good idea."
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ECONOMICS
Noah Smith:"If you use the word 'Keynesian' as a synonym for 'socialist,' 'progressive' or 'liberal,' well, my friend, you're doing it wrong."
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SCIENCE
E.O. Wilson:"What does the story of our species tell us? ... Hope and wish for otherwise as we will, there is no evidence of an external grace shining down upon us, no demonstrable destiny or purpose assigned us, no second life vouchsafed us for the end of the present one. We are, it seems, completely alone."
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FEDERAL RESERVE
Ramesh Ponnuru:"What the poor need now, according to some pundits, is more inflation. ... But in general a higher inflation rate won't help the poor and hurt the rich -- or, at least, it won't have any major long-run effect on the distribution of income."
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EUROPE
Leonid Bershidsky:"The Scottish debate revolves around economic issues: keeping the pound (or not), sharing North Sea oil, dividing debts and assets. In a world bounded by monetary unions and trade pacts, however, nation states are not about money; national identity, a sense of belonging to a particular culture expressed primarily through language and common values and references, is more important."
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MONEY AND POLITICS
Mark Gilbert:"With the outcome of Scotland's Sept. 18 referendum on independence hanging in the balance, other regions in Europe are getting excited at the prospect of a precedent for secession. Investors, meantime, are wondering who might go next: Catalonia is emerging as the most likely candidate."
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SENATE BATTLEGROUND
Albert R. Hunt:"Consider this scenario: A new Congress convenes next Jan. 5, and Republicans have a one-seat majority in the U.S. Senate. The next day, however, the Republican advantage is wiped out. How? Georgia."
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MEDIA
James Gibney:"The biggest question raised by the New York Times's much-discussed expose on Sunday, 'Foreign Powers Buy Influence at Think Tanks,' is why anybody in Washington -- or anywhere else for that matter -- should have been surprised."
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NEWS ROUNDUPS
Barry Ritholtz
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- Beguiled by Narrative
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- Recognizing Bubbles, but Still Cautious on Deflating Them
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- Why You May Need More International Stock
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Jonathan Bernstein
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- Want to understand the "private option" Medicaid expansion in Arkansas? Adrianna McIntyre has a great post on the pros and cons. Important.
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- Dan Drezner argues that political science is useful for figuring out what to do in Iraq and Syria.
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- Ed Kilgore notes that some libertarians are fed up with religious Republicans.
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Matt Levine
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- Twitter is raising some money.
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- More on the Dollars.
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- Some Argentina.
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