If this analysis is right, Romney would be sure to lose a 2016 presidential bid. “Voters will compromise on a lot of issues on Election Day but they won’t ever vote for you if they don’t like you or worse yet, think you don’t like them.” That makes him the perfect GOP candidate — delegitimating the opposition, without seizing the poisoned chalice of democratic leadership (i.e. increasingly vacuous symbolic authority). If the electorate grudgingly concede, after renewing his humiliation, he was right, but we voted against him anyway because he didn’t kiss my baby, it’s NRx gravy.

This has to be in some way related:

Romney 2016: Reform conservative. Romney 2020: Buchananite. Romney 2024: Rothbardian. Romney 2028: Neo-reactionary.

— Ross Douthat (@DouthatNYT) January 13, 2015

Half a sentence this time, from Charles Hugh-Smith. It’s rare for me to agree with anything quite this much:

… deflation is the natural result of a competitive economy experiencing productivity gains.

(He continues: “isn’t this the ideal environment for innovation, enterprise and consumers? Yes, it is.”)

According to the Outside in definition, deflation is the basic signature of capitalism. It’s the politically-undirected (i.e. spontaneous) distribution of positive externalities from sound economic order. Inflation — or mere deflation-suppression — is the unambiguous signal that something very different is going on.

ADDED: Related.