Wall Street Journal

Venezuela’s Inflation: The Wall Street Journal’s Reportage is Off, Way Off

Recent reportage in the Wall Street Journal by Matt Wirz, Carolyn Cui, and Anatoly Kurmanaev states that Venezuela’s annual inflation rate is 500 percent. The authors fail to indicate the source for that 500 percent figure. Knowing that the most accurate estimate of Venezuela’s current annual inflation rate is 55 percent, I concluded that the Journal was way off and set out to determine the source for its incorrect figure.

Would Anti-Marijuana Activists Also Try to Keep Alcohol Illegal?

After I read the latest of Mitchell S. Rosenthal’s tirades against drug legalization in the Wall Street Journal, I must have fallen asleep and dreamed of a world in which marijuana is legal and alcohol is illegal. Not one of Coleridge’s opium-induced dreams, alas, so I didn’t wake up to write a classic poem. But I did wonder what op-ed the Journal might publish in such a world if people began to agitate for the freedom to drink alcohol.

WSJ Calls for No-Fly Zone in Syria, Acknowledges No-Fly Zone Isn’t Enough

It seems the Wall Street Journal editorial board has yet to identify a conflict in which the United States should not intervene. Today, they again call for U.S. military intervention in Syria and criticize President Obama for his inaction. Their main recommendation? Easy: set up a no-fly zone: 

The U.S. could boost its diplomatic leverage with the rebels and their regional allies by enforcing no-fly zones over portions of Syria. That would help prevent the regime from using its attack jets and helicopter gunships against civilian targets while allowing insurgents to consolidate and extend their territorial gains. It also means we could use limited force in a way that strengthens the hand of rebels we support at the expense of those we don’t. 

The key point here is that the Journal leaves open the possibility of using “limited force” to help the rebels. Indeed, this is what no-fly zones often become: precursors to additional involvement at a later date (think Iraq and Libya). I argued as much last week: 

If the no-fly zone fails to swiftly halt the violence, some will claim that preserving U.S. credibility requires an even deeper commitment. Or [no-fly zones] can just become a slippery slope in their own right. The ink was barely dry on the UN Security Council resolution authorizing a no-fly zone over Libya before the mission morphed into a no-drive zone on the ground, and then a major military operation to overthrow Qaddafi’s government. 

As a general rule, we shouldn’t send our military on feel-good missions that have little chance of success. And that is what no-fly zones are. They also have a clear political purpose, in this case to ensure that the opposition prevails over the Assad regime and its supporters. There is no such thing as an impartial intervention. 

In Libya, there wasn’t such an explicit call for a no-fly zone as a means to toppling Muammar Gaddafi. The UN resolution authorizing the no-fly zone did not include “regime change” as a goal, but that’s what it became. In Syria, a no-fly zone would be used explicitly for the purpose of toppling Bashar al-Assad’s regime. But if regime change is the goal, a no-fly zone will not do much to lead us there. They are security-theater, as Ben Friedman has pointed out: “No-fly zones commit us to winning wars but demonstrate our limited will to win them. That is why they are bad public policy.” 

Muslim Humor

It is with delight this week that I see social media pouring derision on mainstream media’s depiction of the world. Specifically, the withering mockery given to Newsweek’s “Muslim Rage” cover.

Gawker helped catalyze things by publishing some early Twitter send-ups of the Muslim rage concept—“Wrestling is fake? #MuslimRage”—and its own spoof: “13 Powerful Images of Muslim Rage.”

No Compelling Evidence ‘No Child’ Worked

Over the last few days the Wall Street Journal has run two articles suggesting that the No Child Left Behind Act has been somewhat successful. But that’s not supported by the federal government’s own measure, the National Assessment of Educational Progress.

That Costly Mandate

The Wall Street Journal notes that Sen. Max Baucus’s allegedly moderate health care plan “would increase the cost of insurance and then force people to buy it, requiring subsidies. Those subsidies would be paid for by taxes that make health care and thus insurance even more expensive, requiring even more subsidies and still higher taxes.” Other than that, it’s not so bad.

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