How Does California Manage?

It doesn't. It borrows. So does Michigan. So does Illinois.

Fourteen Times Bigger Than Greece.


Attention, obviously, is focused on the Eurozone for the moment, as the world awaits the German vote on the Greek bailout. But Gilliam Tett looks at what's going on in China and it's well worth your time.

Present At The Creation.

Craig Venter has created the world's first synthetic life form. It is a stunning scientific achievement.

To quote from the news story linked above: "This is literally a turning point in the relationship between man and nature," said molecular biologist Richard Ebright at Rutgers University, who wasn't involved in the project. "For the first time, someone has generated an entire artificial cell with pre-determined properties.

Bonus Link: The Economist goes all big think on this subject.

Thailand.

If you're interested in what is going on in Thailand, the estimable Walter Mead has a useful overview of the situation and the dangers therein.

More Bad News On State Pensions.


The Athensization of America continues.

A Good Night For the Democrats


Democratic chances of holding the US Senate seat of Arlen Spector (D, no longer R - PA) improved somewhat last night with the defeat of Sen. Arlen Spector. Seems weird, but it's true. Rep. Joe Sestak is a much more compelling figure than Senator Spector and is much the better candidate for the general election.

Democratic chances of picking up the US Senate seat of Jim Bunning in Kentucky improved somewhat last night when the Republicans nominated Rand Paul by a wide margin over establishment favorite Trey Grayson. Grayson's campaign was inept. Paul's campaign was pretty good. But running in a conservative primary and running in a general election are two very different enterprises. It's not yet clear (at least to me) that Paul can play on the bigger stage.

Extended, caustic primary battles are never good for the party enduring them, so the news from Arkansas (there will be a run-off primary because last night's primary did not produce a majority vote for one candidate) is probably bad for Democrats. But whoever emerges from the June run-off primary will face Rep. John Boozman. Boozman is not a particularly sharp opponent. A clever campaign can keep this one close.

Meanwhile, Senator Ron Wyden (D-OR) captured 90% of his party's primary vote, while some law professor that no one has ever heard of managed to win the GOP primary. Barring some kind of political earthquake, Wyden should coast to re-election.

All in all, not a bad night for the Democrats.

The End of the Trilateral Era.

Ellisblog is a sucker for big think and nobody does big think better than Walter Mead. Today's post discusses the end of the Trilateral Era in geopolitics and assesses who the US might partner with in the post-Trilateral Era.

God's Toe

In theory, the universe should not exist. Equal amounts of matter and anti-matter should amount to nothing. But it may be that matter has a slight edge. And so here we are.

Equity Analysts.

This is sort of the definitive chart on the relative value of equity analysts. (via Paul Kedrosky)

The Black Knights.

In an upset for the ages, West Point defeated Syracuse to advance to the quarterfinals of the NCAA college lacrosse championship. The Black Knights will face Cornell next Sunday in Stony Brook, NY.