During the call, Mr. Blagojevich and those closest to him allegedly detailed virtually every one of their ideas for turning Mr. Obama’s open Senate seat into something valuable. Specifically, the governor asked “what he can get from the President-elect for the Senate seat,” the FBI alleged, adding later that callers talked about how to “monetize” Mr. Blagojevich’s connections.
Mr. Blagojevich also bemoaned what he called his financial struggles, although his post reportedly pays about $177,000 per year. “The immediate challenge,” the governor allegedly said, “[is] how do we take some of the financial pressure off of our family.”
Callers discussed the possibility of ambassadorships, which are made by the president. They talked about an appointment for Mr. Blagojevich as head of the Department of Health and Human Services, also made by the president. They explored the idea of getting Mr. Obama to use his clout to put the governor’s wife on corporate boards. And they discussed a deal involving the Service Employee International Union, which would be asked to install Mr. Blagojevich over one of its top political groups in exchange for the union getting to tell Mr. Obama that it was delivering the open U.S. Senate seat to his favorite candidate.
That candidate, Mr. Blagojevich believed, was Valerie Jarrett, according to sources familiar with this part of the probe.
There is no inference that Mr. Obama knew about or encouraged any of this alleged scheming, and he has explicitly denied it. But the big question today is this: Were any members of his transition team among the “Washington advisers” on the line during this marathon conference call, or did one of the participants fill them in about these wild ideas?
Thursday, December 11, 2008
The long call to Washington
Juicy details are beginning to emerge from the Blago wreckage. This WSJ story describes a 2-hr long call that Blago had with someone in Washington immediately before CNN reported that Valerie Jarrett was pulling her name from contention.
Cool charts
Here's a site that sells posters of nifty charts. I can't imagine decorating with them. But maybe they'd be useful if you're studying a particular topic.
Tax cuts versus spending increases and GDP
Mankiw today is talking about the multipliers achieved through tax cuts versus those for spending increases. That is, how much does GDP go up for every dollar of tax cut or spending increase. He concludes we get more bang for the buck from tax cuts (contrary to Keynesian models) and so advises Obama to go ahead with his intended tax cuts.
[Update: I should note that last I heard, and this may have been before the election, Obama was planning to go forward with the tax cuts, but was considering delays of the tax increases on those making over $250k.]
[Update: I should note that last I heard, and this may have been before the election, Obama was planning to go forward with the tax cuts, but was considering delays of the tax increases on those making over $250k.]
Sunset (or Exit Strategy for) the Bailouts
This is so obvious it pains me not to have raised the issue before. I'm not sure how one would do it but like the Bush tax cuts, a sunset mechanism should be limiting these bailouts. I know once the money is spent it's gone. But the brakes should be put on somewhere. It is one of the problems of having lept so quickly into this mess. Would the economy be any worse today if none of the actions taken since October had not materialized? I can't know but doubt it with oil at $40.00/bbl.
From the WSJ:
Our emphasis on private ownership is directly tied to America's dedication to individual freedom. It's in our DNA. It is, in large part, why the United States came to be at all. Our Declaration of Independence is a recitation of the abuses of excessive government power. Our Constitution is a brilliantly crafted system of checks and balances to prevent that abuse by limiting government's authority over individuals -- including in the economic realm, where we're guaranteed our constitutional rights to liberty and property, to freedom from expropriation, and to freedom of contract.
But beyond that, beyond ideals of freedom, the national preference for private ownership is also based on the most basic practicality: It works.
…
Financial markets, of course, are not perfect. In particular, they are susceptible to boom-and-bust cycles...
Cycles of this sort have been a hardy perennial over the past 400 years of experience with organized markets. Addressing the results of these cycles is why we have protective mechanisms such as the Federal Reserve System and federal deposit insurance.
But clearly these mechanisms proved inadequate to prevent the current crisis.
…
For all of these reasons, it is incumbent upon federal policy makers to ensure that the extraordinary actions of the past months are understood to be temporary, and constructed so that they are self-liquidating. Since government programs do not on their own go away, there has to be a deliberate design to eliminate them, and a relentless adherence to execution of that plan. Anything short of this will almost certainly guarantee eternal life for these vast new federal roles.
Focusing on exit strategies now is of vital importance to ensure that we do not stumble along a dangerous path of confusion that may end in far greater financial exposure for the American people, and a far worse situation for America's taxpayers and investors. If we answer the tough questions now, and make sturdy plans for the future, we can position our mortgage market, our financial services industry, and the broader economy for renewed growth and prosperity.
From the WSJ:
Our emphasis on private ownership is directly tied to America's dedication to individual freedom. It's in our DNA. It is, in large part, why the United States came to be at all. Our Declaration of Independence is a recitation of the abuses of excessive government power. Our Constitution is a brilliantly crafted system of checks and balances to prevent that abuse by limiting government's authority over individuals -- including in the economic realm, where we're guaranteed our constitutional rights to liberty and property, to freedom from expropriation, and to freedom of contract.
But beyond that, beyond ideals of freedom, the national preference for private ownership is also based on the most basic practicality: It works.
…
Financial markets, of course, are not perfect. In particular, they are susceptible to boom-and-bust cycles...
Cycles of this sort have been a hardy perennial over the past 400 years of experience with organized markets. Addressing the results of these cycles is why we have protective mechanisms such as the Federal Reserve System and federal deposit insurance.
But clearly these mechanisms proved inadequate to prevent the current crisis.
…
For all of these reasons, it is incumbent upon federal policy makers to ensure that the extraordinary actions of the past months are understood to be temporary, and constructed so that they are self-liquidating. Since government programs do not on their own go away, there has to be a deliberate design to eliminate them, and a relentless adherence to execution of that plan. Anything short of this will almost certainly guarantee eternal life for these vast new federal roles.
Focusing on exit strategies now is of vital importance to ensure that we do not stumble along a dangerous path of confusion that may end in far greater financial exposure for the American people, and a far worse situation for America's taxpayers and investors. If we answer the tough questions now, and make sturdy plans for the future, we can position our mortgage market, our financial services industry, and the broader economy for renewed growth and prosperity.
Wednesday, December 10, 2008
One of Ours
One of Ours by Willa Cather won the Pulitzer Prize in 1922. It's the story of Claude Wheeler, a young man raised on a Nebraska farm. The story takes him through his college years, through some years back on the farm during which he marries, and then through his service in the First World War. Cather does a beautiful job of conveying what life was like. It's interesting to me, because at the time she was writing, it must have been incredibly dull and mundane to note things like the hassles of "scalding the separator" (i.e. cleaning and sterilizing a contraption for separating fat from milk). But today it's a fascinating detail that brings the time and place alive. (It's also an example Cather uses to suggest that a mechanized world may not be entirely better than a non-mechanized one.) I wonder whether Cather (or any writer describing their present) had an eye on an audience almost a hundred years hence?Claude was dutiful but discontented with his life in Nebraska. He finds contentment in Europe. He seems to think the difference is with values: Americans are concerned solely with making money and producing things, while Europeans are interested in feelings. I'm not sure that Cather is positing such a thing; I think she gives us plenty of reasons to doubt the reliability of Claude's viewpoint. It struck me that Claude is unfairly comparing the ordinary work-a-day life he experienced at home with the chaotic state of war in the midst of which people place a high value on fundamental things (e.g. having food and being near their loved ones).
The story touches on tensions between new German immigrants and their neighbors during the war years. I guess the fight against an us-versus-them mentality is perennial, as is the tension between freedom of speech and patriotism/treason.
The story is beautifully told. Here's a lovely exemplary sentence:
The sun was like a great visiting presence that stimulated and took its due from all animal energy. When it flung wide its cloak and stepped down over the edge of the fields at evening, it left behind it a spent and exhausted world.The graphic I used is for a volume from the Library of America series. The black cover is probably familiar to all. Very pleasant to read from a book that has a stitched binding and opens flat.
Update: This was a book club pick.
Point of Order
When referring for a newly elected head of the United States of America in a profane way, one mustn’t forget the formalities, Mr. Governor. From Monsieur Steyn at this morning’s Corner:
Still, I enjoyed this helpful bit of annotation by Patrick Fitzgerald:
ROD BLAGOJEVICH said that the consultants (Advisor B and another consultant are believed to be on the call at that time) are telling him that he has to “suck it up” for two years and do nothing and give this “motherf***er [the President-elect] his senator. F*** him. For nothing? F*** him.”
Shouldn't that be "the motherf***er-elect"?
Still, I enjoyed this helpful bit of annotation by Patrick Fitzgerald:
ROD BLAGOJEVICH said that the consultants (Advisor B and another consultant are believed to be on the call at that time) are telling him that he has to “suck it up” for two years and do nothing and give this “motherf***er [the President-elect] his senator. F*** him. For nothing? F*** him.”
Shouldn't that be "the motherf***er-elect"?
Tuesday, December 09, 2008
ROD R. BLAGOJEVICH and JOHN HARRIS
Where is M when I need him. The Counts:
Count One
From in or about 2002 to the present, in Cook County, in the Northern District of Illinois, defendants did, conspire with each other and with others to devise and participate in a scheme to defraud the State of Illinois and the people of the State of Illinois of the honest services of ROD R. BLAGOJEVICH and JOHN HARRIS, in furtherance of which the mails and interstate wire communications would be used, in violation of Title 18, United States Code, Sections 1341,1343, and 1346; all in violation of Title 18 United States Code, Section 1349.
Count Two
Beginning no later than November 2008 to the present, in Cook County, in the Northern District of Illinois, defendants ROD R. BLAGOJEVICH and JOHN HARRIS, being agents of the State of Illinois, a State government which during a one-year period, beginning January 1, 2008 and continuing to the present, received federal benefitsin excess of $10,000, corruptly solicited and demanded a thing of value, namely, the firing of certain Chicago Tribune editorial members responsible for widely-circulated editorials critical of ROD R. BLAGOJEVICH, intending to be influenced and rewarded in connection with business and transactions of the State of Illinois involving a thing of value of $5,000 or more, namely, the provision of millions of dollars in financial assistance by the State of Illinois, including through the Illinois Finance Authority, an agency of the State of Illinois, to the Tribune Company involving the Wrigley Field baseball stadium; in violation of Title 18, United States Code, Sections 666(a)(1)(B) and 2.
Preemptive Update: I know most of the accused bad guys lately have been Elephants.
Count One
From in or about 2002 to the present, in Cook County, in the Northern District of Illinois, defendants did, conspire with each other and with others to devise and participate in a scheme to defraud the State of Illinois and the people of the State of Illinois of the honest services of ROD R. BLAGOJEVICH and JOHN HARRIS, in furtherance of which the mails and interstate wire communications would be used, in violation of Title 18, United States Code, Sections 1341,1343, and 1346; all in violation of Title 18 United States Code, Section 1349.
Count Two
Beginning no later than November 2008 to the present, in Cook County, in the Northern District of Illinois, defendants ROD R. BLAGOJEVICH and JOHN HARRIS, being agents of the State of Illinois, a State government which during a one-year period, beginning January 1, 2008 and continuing to the present, received federal benefitsin excess of $10,000, corruptly solicited and demanded a thing of value, namely, the firing of certain Chicago Tribune editorial members responsible for widely-circulated editorials critical of ROD R. BLAGOJEVICH, intending to be influenced and rewarded in connection with business and transactions of the State of Illinois involving a thing of value of $5,000 or more, namely, the provision of millions of dollars in financial assistance by the State of Illinois, including through the Illinois Finance Authority, an agency of the State of Illinois, to the Tribune Company involving the Wrigley Field baseball stadium; in violation of Title 18, United States Code, Sections 666(a)(1)(B) and 2.
Preemptive Update: I know most of the accused bad guys lately have been Elephants.
Monday, December 08, 2008
Make room on your mantles
"The Pulitzer Prizes, the most prestigious US journalism awards, announced Monday they were expanding to include online-only publications." Here.
Pulitzer 2009. C'mon guys. We can do it. Someone write something. (I'm pretty sure gravy tips won't do it.)
Pulitzer 2009. C'mon guys. We can do it. Someone write something. (I'm pretty sure gravy tips won't do it.)
General Motors Ad
From WSJ article (with link to full ad) on the GM ad:
GM's letter does not simply sound more alarm bells. It is anchored by a long paragraph admitting to several costly mistakes.
"While we're still the U.S. sales leader, we acknowledge we have disappointed you," the ad says. "At times we violated your trust by letting our quality fall below industry standards and our designs become lackluster. We have proliferated our brands and dealer network to the point where we lost adequate focus on our core U.S. market."
The entire ad is pretty long but trust me when I say it does not inspire me with confidence. It also contains this gem:
And, we made commitments to compensation plans that have proven to be unsustainable in today’s globally competitive industry. We have paid dearly for these decisions, learned from them and are working hard to correct them by restructuring our U.S. business to be viable for the long term.
GM's letter does not simply sound more alarm bells. It is anchored by a long paragraph admitting to several costly mistakes.
"While we're still the U.S. sales leader, we acknowledge we have disappointed you," the ad says. "At times we violated your trust by letting our quality fall below industry standards and our designs become lackluster. We have proliferated our brands and dealer network to the point where we lost adequate focus on our core U.S. market."
The entire ad is pretty long but trust me when I say it does not inspire me with confidence. It also contains this gem:
And, we made commitments to compensation plans that have proven to be unsustainable in today’s globally competitive industry. We have paid dearly for these decisions, learned from them and are working hard to correct them by restructuring our U.S. business to be viable for the long term.
Sunday, December 07, 2008
Masonic temples turned arts centers
This is one of my favorite buildings in downtown Minneapolis. It was built in 1889 as a Masonic temple. In the 1970s, a dance organization purchased it and has since operated it as an arts center. The large open-span spaces, uninterrupted by the ubiquitous steel pillars of modern construction, are well suited to rehearsal and performance spaces.
Saturday, December 06, 2008
Gravy breakthrough
I made Thanksgiving dinner today for K since he didn't get any last week. (He stayed here while I traveled to Bismarck.) Until today, I'd never made decent gravy. For 20 years, I've been making gravy as my mom taught me, like this:
1) save the potato water;
2) pour your turkey pan drippings into a fat separator and pour off the fat and throw it away;
3) return the non-fat pan drippings to the pan and add some potato water;
4) mix flour and some water vigorously to get a paste and slowly add that to the drippings/water, with lots of stirring to try to avoid lumps;
5) simmer to desire consistency.
But that was all wrong. Pouring off the fat and throwing it away is all wrong. Instead, I should be thinking of the flour/paste as a roux. Roux, of course, if made of flour and FAT, in equal parts. So instead, today, I made gravy this way:
1) save the potato water (or heat stock);
2) pour the turkey pan dripping into a fat separator and pour the fat into a sauce pan; estimate how much fat you have and slowly add an equal amount of flour, to the fat, stirring constantly. Can continue to cook this to brown it (stirring constantly and being careful on to burn it) to deepen the flavor (as you would for a roux for, say, gumbo), but for turkey gravy it's not necessary.
3) meanwhile, deglaze the drippings pan with a splash of white wine, then add the pan drippings and some of the potato water (plus chicken bouillon cube) or stock; simmer a bit to reduce and concentrate flavors;
4) slowly add drippings/water to the roux.
5) YUM.
Good thing the gravy was fabulous, since I dropped the casserole of yams on the floor.
1) save the potato water;
2) pour your turkey pan drippings into a fat separator and pour off the fat and throw it away;
3) return the non-fat pan drippings to the pan and add some potato water;
4) mix flour and some water vigorously to get a paste and slowly add that to the drippings/water, with lots of stirring to try to avoid lumps;
5) simmer to desire consistency.
But that was all wrong. Pouring off the fat and throwing it away is all wrong. Instead, I should be thinking of the flour/paste as a roux. Roux, of course, if made of flour and FAT, in equal parts. So instead, today, I made gravy this way:
1) save the potato water (or heat stock);
2) pour the turkey pan dripping into a fat separator and pour the fat into a sauce pan; estimate how much fat you have and slowly add an equal amount of flour, to the fat, stirring constantly. Can continue to cook this to brown it (stirring constantly and being careful on to burn it) to deepen the flavor (as you would for a roux for, say, gumbo), but for turkey gravy it's not necessary.
3) meanwhile, deglaze the drippings pan with a splash of white wine, then add the pan drippings and some of the potato water (plus chicken bouillon cube) or stock; simmer a bit to reduce and concentrate flavors;
4) slowly add drippings/water to the roux.
5) YUM.
Good thing the gravy was fabulous, since I dropped the casserole of yams on the floor.
Friday, December 05, 2008
Harmonic Gardening
"For 60 years, the members of Austin Organic Gardeners have shared information about successfully raising vegetables and ornamentals without using harsh fertilizers that harm the soil and toxic pesticides that disturb the ecological balance."
Re: "factory" food
There was a bit of this in the news a while back.
From the Independent:
David Miliband, the Environment Secretary, drew a furious response from growers last month when he suggested organic food was a "lifestyle choice" with no conclusive evidence it was nutritionally superior.
Sir David King, the Government's chief scientist, also told The Independent he agreed that organic food was no safer than chemically-treated food.
The article goes on to discuss the environmental pros and cons of organic growing. While our souls may be jeopardized by "factory" food, I'm not yet sold on the nutritional or environmental benefits of organic growing.
From the Independent:
David Miliband, the Environment Secretary, drew a furious response from growers last month when he suggested organic food was a "lifestyle choice" with no conclusive evidence it was nutritionally superior.
Sir David King, the Government's chief scientist, also told The Independent he agreed that organic food was no safer than chemically-treated food.
The article goes on to discuss the environmental pros and cons of organic growing. While our souls may be jeopardized by "factory" food, I'm not yet sold on the nutritional or environmental benefits of organic growing.
Star Tribune series on The Hungry Planet
I guess the Strib "The Hungry Planet" series is not solely about Cargill. Here's their description of their series:
Readers first phoned in about high milk and egg prices more than a year ago. Within months, as corn and wheat prices reached new daily highs, food was on everyone's mind. Shortages led to food riots in Haiti and a run on rice from Cambodia to Costco. So what went wrong? This series, Our Hungry Planet, found powerful and conflicting forces around the world influencing the supply and price of food. Some individuals and businesses have profited handsomely, while others went hungry and grocery bills continued to rise.Here are the articles in the series:
- Part One: Palm oil has become the new vegetable oil. Papua New Guinea is trying to cash in on it, lured by Cargill
- Part Two: A Minneapolis bartended turned trader made more than $1 million as prices rose. Can he hold on?
- Part Three: Food companies quietly raise prices by reengineering products into smaller packages. (I've been noticed this.)
- Part Four: Volatile food prices have shoved Cambodia's poorest closer to famine
- Part Five: Cargill's ever-growing reach deep into the food chain raises questions about its secretive ways.
- Part Six: A Minnesota soy farmer, tired of giant agriculture conglomerates, takes his crop global
- Part Seven (to be published Sunday): Why did those egg prices jump so high so fast?
Starvation history
In my neighborhood and book club crowd, a hot topic is food production. Everyone is all for local, organic, chemical-free food production and, accordingly, is anti-Cargill, anti-factory-farms, etc. (The StarTrib has been running a series on Cargill that I haven't read yet, but will.) I've read Michael Pollan's book, Omnivore's Dilemma, that advances the same philosophy towards food. The arguments are that our health and environment, perhaps even our souls, are compromised by "factory" food. I accept that that's true.
Nevertheless, the thing that's missing from Pollan's book and all the discussions I run into, is a quantitative analysis of whether the world's population could get its nutritional needs met without factory food. How many people would be starving either due to the absence of food or because it would be too expensive? Is there enough arable land on the planet for us each to grow the food we need in our backyard? Can Minnesotans each nothing but local food without getting scurvy?
Does anyone have any info you could point me to about the history of starvation and malnutrition, or a quantitative look at the feasibility of more holistic food production?
Nevertheless, the thing that's missing from Pollan's book and all the discussions I run into, is a quantitative analysis of whether the world's population could get its nutritional needs met without factory food. How many people would be starving either due to the absence of food or because it would be too expensive? Is there enough arable land on the planet for us each to grow the food we need in our backyard? Can Minnesotans each nothing but local food without getting scurvy?
Does anyone have any info you could point me to about the history of starvation and malnutrition, or a quantitative look at the feasibility of more holistic food production?
Stewart on bailouts
John Stewart comments on the difference between Congress' attitude about bailouts for the auto industry as opposed to its attitude about bailouts for the financial industry: While I don't agree with his conclusion that Congress should give Detroit the money, I suspect he's right about why the financial industry was treated differently.
Thursday, December 04, 2008
Secret Passions
Arianna Huffington has a new book teaching people how to blog. She encourages us to blog about our "secret passions". What secret passions do you have? I'm thinking...
I don’t really have a problem with how the BCS shook out but this is making the internet rounds and is at least mildly amusing:
BCS DECLARES GERMANY WINNER OF WORLD WAR II US Ranked 4th
After determining the Big-12 championship game participants the BCS computers were put to work on other major contests and today the BCS declared Germany to be the winner of World War II.
"Germany put together an incredible number of victories beginning with the annexation of Austria and the Sudetenland and continuing on into conference play with defeats of Poland, France, Norway, Sweden, Denmark, Belgium and the Netherlands. Their only losses came against the US and Russia; however considering their entire body of work--including an incredibly tough Strength of Schedule--our computers deemed them worthy of the #1 ranking."
Questioned about the #4 ranking of the United States the BCS commissioner stated "The US only had two major victories--Japan and Germany. The computer models, unlike humans, aren't influenced by head-to-head contests--they consider each contest to be only a single, equally-weighted event."
German Chancellor Adolph Hitler said "Yes, we lost to the US; but we defeated #2 ranked France in only 6 weeks." Herr Hitler has been criticized for seeking dramatic victories to earn 'style points' to enhance Germany's rankings. Hitler protested "Our contest with Poland was in doubt until the final day and the conditions in Norway were incredibly challenging and demanded the application of additional forces."
The French ranking has also come under scrutiny. The BCS commented " France had a single loss against Germany and following a preseason #1 ranking they only fell to #2."
Japan was ranked #3 with victories including Manchuria, Borneo and the Philippines.
After determining the Big-12 championship game participants the BCS computers were put to work on other major contests and today the BCS declared Germany to be the winner of World War II.
"Germany put together an incredible number of victories beginning with the annexation of Austria and the Sudetenland and continuing on into conference play with defeats of Poland, France, Norway, Sweden, Denmark, Belgium and the Netherlands. Their only losses came against the US and Russia; however considering their entire body of work--including an incredibly tough Strength of Schedule--our computers deemed them worthy of the #1 ranking."
Questioned about the #4 ranking of the United States the BCS commissioner stated "The US only had two major victories--Japan and Germany. The computer models, unlike humans, aren't influenced by head-to-head contests--they consider each contest to be only a single, equally-weighted event."
German Chancellor Adolph Hitler said "Yes, we lost to the US; but we defeated #2 ranked France in only 6 weeks." Herr Hitler has been criticized for seeking dramatic victories to earn 'style points' to enhance Germany's rankings. Hitler protested "Our contest with Poland was in doubt until the final day and the conditions in Norway were incredibly challenging and demanded the application of additional forces."
The French ranking has also come under scrutiny. The BCS commented " France had a single loss against Germany and following a preseason #1 ranking they only fell to #2."
Japan was ranked #3 with victories including Manchuria, Borneo and the Philippines.
More Spam Fun in Austin
Article at Frommer's:
The Perpetual Pandemonious Party of Pork in celebration of the potted pig and its glorious incarnation, Spam.
We had a glitch this year but it looks like it's back for next April.
The Perpetual Pandemonious Party of Pork in celebration of the potted pig and its glorious incarnation, Spam.
We had a glitch this year but it looks like it's back for next April.
Wednesday, December 03, 2008
For the love of Spam
Rachel Hutton writing for The City Pages, an alternative (and pretty good) paper here tells us all we'd ever want to know about Spam. Apparently, there's all kinds of fun to be had with Spam:
I went looking for some Spam haiku and learned that there's a whole book of Spam haiku: Spam-ku: Tranquil Reflections on Luncheon Loaf Example:
In recent years, people have related to Spam less as a foodstuff than as a celebrity. The meat has its own poetry (Spam-ku, none of which needs to be repeated here), merchandise (neckties, fishing bobbers, onesies), and musical group (the Spam-ettes, famous for performing such tunes as "Mr. Spam-man"). There are Spam festivals (Spam Jam in Waikiki, for example; Hawaii tops the nation in Spam consumption, followed by Alaska) and Spam-carving contests (pigs and hot dogs are popular subjects). Hell, a man once proposed to his girlfriend with a Spam-can ring. (They were artists. She said yes.)
I went looking for some Spam haiku and learned that there's a whole book of Spam haiku: Spam-ku: Tranquil Reflections on Luncheon Loaf Example:
How many degreesIf you want more, and I'm sure you do, you can go here to read 19,000 Spam-kus. If you feel so inspired, you may add your own Spam-ku to the archive. There are also limericks and sonnets and other poetic forms directed to glorifying Spam.
Can one tilt an ungreased pan
Before a loaf slips?
Tuesday, December 02, 2008
Bailout foolishness
I think this post by Kos at DKos says it all about the bailouts.
I understand the argument that had nothing been done, then things might be worse today. That's an unprovable assertion, but it's a plausible one. Yet can anyone really argue that had Congress waited a few more weeks for the smart economists and policymakers to weigh in, thus allowing for a better diagnosis and solution for the problem, that things would be that much worse?
Remember, Paulson secretly worked on his plan for months before he sprung it with full histrionics on Congress and the American people. The administration deliberatively rolled it out in a way designed to limit opposition. And yes, false hysteria was part of the plan. As a result, we have another Bush Administration mess on our hands, and like the Iraq War, Democratic fingerprints are once again all over it.
Ratings agencies
Mumbai
Stratfor on Mumbai here:
By staging an attack the Indian government can't ignore, the Mumbai attackers have set in motion an existential crisis for Pakistan. The reality of Pakistan cannot be transformed, trapped as the country is between the United States and India. Almost every evolution from this point forward benefits Islamists. Strategically, the attack on Mumbai was a precise blow struck to achieve uncertain but favorable political outcomes for the Islamists.
I really hate to say this because I deplore the loss of life but in a really perverse sense I’m almost grateful. It is no secret that I consider the Islamo-fascist threat to be an existential (hate to echo the article but can't think of another word) one. It is my prayer that this will serve as a wake up call to a nation that has become bored/tired of the conflict
By staging an attack the Indian government can't ignore, the Mumbai attackers have set in motion an existential crisis for Pakistan. The reality of Pakistan cannot be transformed, trapped as the country is between the United States and India. Almost every evolution from this point forward benefits Islamists. Strategically, the attack on Mumbai was a precise blow struck to achieve uncertain but favorable political outcomes for the Islamists.
I really hate to say this because I deplore the loss of life but in a really perverse sense I’m almost grateful. It is no secret that I consider the Islamo-fascist threat to be an existential (hate to echo the article but can't think of another word) one. It is my prayer that this will serve as a wake up call to a nation that has become bored/tired of the conflict
Mankiw on Obama's econ team
Mankiw looks at statements made by members of Obama's economic team and finds they're dead wringers for right wingers:
What would you call a group of economists who are skeptical of regulating mortgage markets, who think unemployment insurance and unions increase unemployment, who say that tax hikes retard economic growth, and who believe that the recovery from the Great Depression was a monetary phenomenon rather than the result of New Deal fiscal policy?
No, it is not a right-wing cabal. It's Team Obama.
Re: ruthless (or fair)
I'm pretty sure the '32-'35 tax rates were Hoover's since FDR came to office in '33 so HH started that mess; FDR just exacerbated.
15% is ruthless? Just looks like we were headed toward a flat tax (by definition "fairer") to me.
For the record, I've got no problem with reasonably progressive rates, but fairer they are not.
Great graph, btw.
15% is ruthless? Just looks like we were headed toward a flat tax (by definition "fairer") to me.
For the record, I've got no problem with reasonably progressive rates, but fairer they are not.
Great graph, btw.
High and low federal tax rates historically
Here's another graph showing the highest (blue) and the lowest (red) federal tax rates, historically. I've generated this from the same data as my previous post.
A few things strike me. 1) We really all sacrificed to pay for WWII; 2) tax policy in Reagan's second term was particularly ruthless, with the raising of the bottom-most rate and lowering of the top-most rates, the only time in tax history that that has been done; and 3) tax rates since Reagan have been closer to pre-New-Deal rates than to post New-Deal rates.
Update: I should specify that this is all about income tax rates.
A few things strike me. 1) We really all sacrificed to pay for WWII; 2) tax policy in Reagan's second term was particularly ruthless, with the raising of the bottom-most rate and lowering of the top-most rates, the only time in tax history that that has been done; and 3) tax rates since Reagan have been closer to pre-New-Deal rates than to post New-Deal rates.
Update: I should specify that this is all about income tax rates.
Top federal tax rates
Here's a history of the tax rates. And here's a graph showing the highest federal tax rate since the inception of the federal income tax:
GDP fluctuations
I came across this graph of historical GDP. It looks like prior to 1983, the GDP could be counted on to fluctuate wildly. Does anyone have an explanation or theory as to why it hasn't fluctuated as much since 1983?
Monday, December 01, 2008
Theodore Dalrymple on Britain’s Quivering Upper Lip--The British character: from self-restraint to self-indulgence
A taste from City Journal:
What, exactly, were the qualities that my mother had so admired? Above all, there was the people’s manner. The British seemed to her self-contained, self-controlled, law-abiding yet tolerant of others no matter how eccentric, and with a deeply ironic view of life that encouraged them to laugh at themselves and to appreciate their own unimportance in the scheme of things. If Horace Walpole was right—that the world is a comedy to those who think and a tragedy to those who feel—the English were the most thoughtful people in the world. They were polite and considerate, not pushy or boastful; the self-confident took care not to humiliate the shy or timid; and even the most accomplished was aware that his achievements were a drop in the ocean of possibility, and might have been much greater if he had tried harder or been more talented.
What, exactly, were the qualities that my mother had so admired? Above all, there was the people’s manner. The British seemed to her self-contained, self-controlled, law-abiding yet tolerant of others no matter how eccentric, and with a deeply ironic view of life that encouraged them to laugh at themselves and to appreciate their own unimportance in the scheme of things. If Horace Walpole was right—that the world is a comedy to those who think and a tragedy to those who feel—the English were the most thoughtful people in the world. They were polite and considerate, not pushy or boastful; the self-confident took care not to humiliate the shy or timid; and even the most accomplished was aware that his achievements were a drop in the ocean of possibility, and might have been much greater if he had tried harder or been more talented.
Checkbooks
My brother-in-law helped my Mom find a $500.00 discrepancy in her personal account over the holiday weekend. I probably balance mine about once a quarter and by “balance” I mean check to be sure I’m within $10 or so of what the credit union says. I tend to do it when more than a week has passed since I’ve written a check just to make things easier. Anybody out there lazier than I am?
Sunday, November 30, 2008
A Three Dog Life
This is a memoir by Abigail Thomas describing and reflecting on the years of her life following her husband's traumatic brain injury. (He was hit by a car trying to save their dog who'd gotten loose from a new and faulty leash from being hit by a car.) They'd both been writers, living in NYC. She was not able to care for him so she put him in a live-in facility far from the city. To be close to him, she gave up her city life and moved to a house in the country near the facility. It's sparely told and not at all self pitying. Stephen King describes it as "[t]he best memoir I have ever read."
Saturday, November 29, 2008
Re: For the Sheer Joy
Tried to do this as a comment but couldn't. Reminds me of Jimmy Stewart's movie, It's a Wonderful Life.
Friday, November 28, 2008
Thursday, November 27, 2008
Lincoln and Malia
In the Good Morning America interview with the Obamas, they tell the story of how their daughter Malia, having seen Lincoln's desk in the Lincoln bedroom at the White House, told her folks that she wants to sit at that desk to write history papers for school because that will inspire her.
Man. I wonder if Abraham Lincoln imagined that 150 years after his presidency, thanks in part to difficult choices he made, a little black girl, descended from slaves and daughter of the president, would sit at his desk to write her school papers.
Man. I wonder if Abraham Lincoln imagined that 150 years after his presidency, thanks in part to difficult choices he made, a little black girl, descended from slaves and daughter of the president, would sit at his desk to write her school papers.
Wednesday, November 26, 2008
Tick tick
Joe the Plumber's 15 minutes of fame are nearly over. Here is a chart generated by Google Trends showing the volume of searches on "joe the plumber" over time.
Oil Price Drop = Stimulus Package
As I said, these prices put a lot of money in our pockets. (I concede it has as much to do with less driving as the sunsetting of the drilling restrictions.)
From the WSJ:
The U.S. Department of Transportation last week said that gasoline taxes paid into the highway trust fund fell by $3 billion in the 2008 fiscal year.
...
But the collapse of gasoline prices since the summer -- a drop of more than $2 a gallon in my neighborhood -- is an economic stimulus worth more than $200 billion a year.
From the WSJ:
The U.S. Department of Transportation last week said that gasoline taxes paid into the highway trust fund fell by $3 billion in the 2008 fiscal year.
...
But the collapse of gasoline prices since the summer -- a drop of more than $2 a gallon in my neighborhood -- is an economic stimulus worth more than $200 billion a year.
Tuesday, November 25, 2008
Gates
Politico reports that Robert Gates will be staying on as Secr. of Defense.
Scooter, you're going to like this President as much as it's possible for you to like a Democratic president. And you might like him better than you like Bush 43. (Actually, I think it's possible you'll really really like him, but it's too soon to tell that.)
The team gives Obama experience in the bureaucracy and credibility with the military, although it could lead to criticism from his party’s left wing that the lineup is more hawkish and less revolutionary than his supporters expected.
Scooter, you're going to like this President as much as it's possible for you to like a Democratic president. And you might like him better than you like Bush 43. (Actually, I think it's possible you'll really really like him, but it's too soon to tell that.)
Bailout Cost Comparison
Barry Ritzholtz and Jim Bianco via Mark Hemingway at the Corner:
• Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
• Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
• Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)
• Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
• NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion
BAILOUT Cost (including Citibank) $4.6165 trillion dollars
• Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
• Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
• Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)
• Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
• NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion
BAILOUT Cost (including Citibank) $4.6165 trillion dollars
A month of Holidays
Tough economic times mean we need to give more than ever. If it doesn't hurt, you're not giving enough. The Salem Radio Network has been promoting Feed the Children. Find something you believe in and give.
Happy Thanksgiving!
Happy Thanksgiving!
Monday, November 24, 2008
Otter Tail County
From the county's website about the origin of the name:
Before there were roads in the wilderness area, the best method of transportation was by water; and as the Leaf Lakes drain towards the Gulf of Mexico and Otter Tail Lake toward Hudson Bay by way of the Red River of the North.
The early explorer would portage from Leaf Lake to Portage Lake to Donald Lake to Pelican Bay on Otter Tail Lake and be on his way through Canada to Hudson Bay.
The first explorers through this area about 1750 were a Frenchman and an Englishman. They met with a band of Indians on the shore of "Lac de la Queue de la Outer", which translates roughly to the Lake of the Otters Tail.
This is on record in the archives of Congress, and I would think that it was called that for many years before that as the name derives from the sand bar shaped like an otter's tail where the Otter Tail River enters Otter Tail Lake (on the North East end of the lake) and now over two centuries later the otter's tail sand bar is still there.
Ottertail County?
Texas takes a backseat to none in the silly names for towns (Dime Box is just about 6 miles from Old Dime Box, Texas) and counties but Ottertail?
The Hanging Chad of 2008-09?
I wish it were my original prediction but it was Jeff Ward's. He is a former UT place kicker and current UT marketing professor and local talk-show host. He regularly blasts both sides of the aisle and probably considers himself a free-market libertarian. He is probably the best local host (on any subject area...his is not primarily a sports show) I've ever heard. He's the only local host I've ever heard give substantial time to economics and biz.
As of today, UT is .05 points ahead of OU in the BCS standings. Though UT beat OU earlier this year, it is pretty clear to me that if they played today, OU would win 9 out of 10 times. Still, UT has the head to head win. OTOH, OU thoroughly whipped the team that beat UT. My point being that this year maybe like never before, we may have the perfect storm that does real damage to the BCS. Florida and USC certainly can make their arguments. The Harris Poll and USA Today Poll results can be seen in the second link above and very good arguments can be made for those rankings.
I've heard that there is a congressman introducing legislation trying to declare the BCS as some kind of restraint or trade. A Utah congressman may be co-sponsoring because the small school Utah is getting dissed.
If the politicians are getting involved, can the lawyers be far behind?
Even our President-elect has called for a playoff system.
Update: Just learned the the BCS Standings is the tiebreaker for the Big 12 South if OU, UT and TT win out. Given the woeful record of aTm, OU should leapfrog UT next week and thereby win the South.
As of today, UT is .05 points ahead of OU in the BCS standings. Though UT beat OU earlier this year, it is pretty clear to me that if they played today, OU would win 9 out of 10 times. Still, UT has the head to head win. OTOH, OU thoroughly whipped the team that beat UT. My point being that this year maybe like never before, we may have the perfect storm that does real damage to the BCS. Florida and USC certainly can make their arguments. The Harris Poll and USA Today Poll results can be seen in the second link above and very good arguments can be made for those rankings.
I've heard that there is a congressman introducing legislation trying to declare the BCS as some kind of restraint or trade. A Utah congressman may be co-sponsoring because the small school Utah is getting dissed.
If the politicians are getting involved, can the lawyers be far behind?
Even our President-elect has called for a playoff system.
Update: Just learned the the BCS Standings is the tiebreaker for the Big 12 South if OU, UT and TT win out. Given the woeful record of aTm, OU should leapfrog UT next week and thereby win the South.
Remember Enron Field?
For those that don't. The Houston Astros' Minute Maid Park used to be Enron Field.
From Hot Air:
AIG, Citibank and a number of other federally bailed-out financial institutions have no plans to cancel hundreds of millions of dollars in sports team sponsorships, even as they take billions in taxpayer support, ABC News has found.
This is a travesty.
From Hot Air:
AIG, Citibank and a number of other federally bailed-out financial institutions have no plans to cancel hundreds of millions of dollars in sports team sponsorships, even as they take billions in taxpayer support, ABC News has found.
This is a travesty.
Colmes leaving Hannity and Colmes
I rarely watched the show because I don't really care for Hannity. I'm not surprised he's leaving though. When I did see him it was usually during election nights or during debate coverage. He never seemed to have his heart in the back-and-forth. Lately, he seemed to have just given up and collect a paycheck.
Update: to my surprise, he's not leaving Fox.
Update: to my surprise, he's not leaving Fox.
Bernanke and the Federal Reserve
Day in and day out for the past few weeks, there've been announcements of actions taken by our government and by the Federal Reserve to deal with the economic crisis. I've gotten pretty much numb to the extraordinariness of it all. Ho Hum. We're bailing out Citibank today.
This blurb from a piece on Ben Bernanke in the Dec. 1 edition of The New Yorker lists a bunch of Fed actions, and seeing them all strung together this way is staggering :
This blurb from a piece on Ben Bernanke in the Dec. 1 edition of The New Yorker lists a bunch of Fed actions, and seeing them all strung together this way is staggering :
But since the market for subprime mortgages collapsed, in the summer of 2007, the growing financial crisis has forced Bernanke to intervene on Wall Street in ways never before contemplated by the Fed. He has slashed interest rates, established new lending programs, extended hundreds of billions of dollars to troubled financial firms, bought debt issued by industrial corporations such as General Electric, and even taken distressed mortgage assets onto the Fed’s books. (In March, to facilitate the takeover by J. P. Morgan of Bear Stearns, a Wall Street investment bank that was facing bankruptcy, the Fed acquired twenty-nine billion dollars’ worth of Bear Stearns’s bad mortgage assets.) These moves hardly amount to a Marxist revolution, but, in the eyes of many economists, including supporters and opponents of the measures, they represent a watershed in American economic and political history. Ben Bernanke, who seemed to have been selected as much for his predictability as for his economic expertise, is now engaged in the boldest use of the Fed’s authority since its inception, in 1913.
Friday, November 21, 2008
How can he stand himself?
On Nov. 5, Norm Coleman was reported to have received about 600 more votes than Al Franken. As I posted earlier, Norm then pronounced that if he were in Franken's shoes, he would concede and forego a recount and let the healing begin. (No mention of making sure the will of the MN voters was properly and fully determined.)
So the mandatory recount is perking along and Franken keeps gaining ground. At this point in the recount (about 60% done, I think), according to Franken's camp today, Norm is only up by fewer than 100 votes. There's more Franken territory left to be counted than Coleman territory, so it seems possible that Franken will come out ahead at the end of the recount.
In light of this, Normie today said that he won't give up his right to challenge the election results. He's ready to head to court. He says he was sleep-deprived when he demanded that Franken give up his right to a recount. Oy.
It's entirely possible that Minnesota's senator will be elected by just a handful or two of votes. Almost 3 million votes cast.
So the mandatory recount is perking along and Franken keeps gaining ground. At this point in the recount (about 60% done, I think), according to Franken's camp today, Norm is only up by fewer than 100 votes. There's more Franken territory left to be counted than Coleman territory, so it seems possible that Franken will come out ahead at the end of the recount.
In light of this, Normie today said that he won't give up his right to challenge the election results. He's ready to head to court. He says he was sleep-deprived when he demanded that Franken give up his right to a recount. Oy.
It's entirely possible that Minnesota's senator will be elected by just a handful or two of votes. Almost 3 million votes cast.
Conversion experiences
When I listen to Christian conversion stories, I don't find it at all difficult to believe or understand the part of the story where someone went from believing in no god to believing in a god. In so many stories, people experience a sense of the presence of god. But I rarely understand how that translates into a belief in Christianity, specifically. What about their conversion convinced them that this god they experienced or discovered is the Christian god and that belief in Christ as savior is the only route to knowing God? I'm suspicious that upon sensing the presence of a god, they assume or presume this to be the god with which they're most familiar and this (in the culture of the majority of Americans) is the Christian god, packaged with the associated creeds/dogma of the Christ story. (And yes I have the same suspicions about conversion stories for other religions in other cultures.) I'd like to see people at least consider the possibility that there might be a god, but it may not fit within the confines of the most convenient religion (given their cultural place) or any established religion. If something about their experience is unique to believing in a Christian god, then I'd like to hear about that.
Thursday, November 20, 2008
I hadn't heard about Joe Eszterhas’s faith
Joe Eszterhas’s awakening from the WaPo:
Or was it God's divinely impish sense of humor? "Who, you? You're praying? After everything you've done to break my commandments and after every nasty, unfunny thing you've written about Me and those who follow Me - now you're sobbing? Praying? Asking Me to help you? Hah! Okay, fine, I'll help you. But if I do, know this: My help will obliterate the old, infamous you. You'll wind up turning your life inside-out. You'll wind up stopping all of your excesses. You know what will happen to you? You'll wind up telling the world what I did for you. You'll wind up carrying my cross in church. Yes, I make all things new - and you will be new, too."
...
I will thank Him forever because He gave me new life and a heart which is truly able to love for the first time in my life. His love is mine.
H/t: Dennis Prager
Or was it God's divinely impish sense of humor? "Who, you? You're praying? After everything you've done to break my commandments and after every nasty, unfunny thing you've written about Me and those who follow Me - now you're sobbing? Praying? Asking Me to help you? Hah! Okay, fine, I'll help you. But if I do, know this: My help will obliterate the old, infamous you. You'll wind up turning your life inside-out. You'll wind up stopping all of your excesses. You know what will happen to you? You'll wind up telling the world what I did for you. You'll wind up carrying my cross in church. Yes, I make all things new - and you will be new, too."
...
I will thank Him forever because He gave me new life and a heart which is truly able to love for the first time in my life. His love is mine.
H/t: Dennis Prager
Conversion of the Prince of Darkness
Long Washingtonian piece on Novak's conversion. Probably not worth the effort if (a) one loathes him or (b) one wants deep theological thoughts.
MN Senate recount - images of questionable ballots
I've been so curious to know what manner of marking people made on their ballots that left their intent unclear. It's not merely incompletely-filled bubbles. Minnesota public radio publishes images of challenged ballots here.
Egad (again)!
Just found out another shareholder is leaving the firm today. That's seven attorneys I can think of in the last 12 months. Scarier by the day.
The War of Don Emmanuel's Nether Parts
Louis de Bernieres is one of my favorite authors and this is a book club pick that I pitched. Liked it lots. De Bernieres' novels are typically set in another time and place. Corelli's Mandolin is set on the Greek island of Cephalonia occupied by the Italian army during WW II. (If you had the extreme misfortune to see the movie Captain Corelli's Mandolin, just completely disregard. There's no comparison.) Birds Without Wings is set circa 1900 in the Ottoman Empire as it comes to an end and the nation of Turkey is formed under Mustafa Kemal Ataturk. (These two books would make my top five favorite books of all time.) TWODENP is his first novel and it is set in a fictitious Central or South American country in recent decades. All three novels showcase a large cast of eccentric characters (plenty of whom you fall in love with) set against the backdrop of enormous geopolitical upheaval and war. One of his recurring themes is the dichotomy between the antlike quality of people as forces out of our control toss us around, squash us or remake us, and the power of the individual including the ability of a single person to alter the course of history.
De Bernieres’ novels are always deeply researched and filled to the gills with detail. In TWODENP, there’s even an entire chapter on economic manipulations in this fictitious land, complete with references to Friedman, obviously commenting (though not with a clear angle) on political events in various Central/South American countries in the 1980s.
TWODENP has a touch of magical realism, that he doesn’t use in CM or BWW. I’m not generally a fan of magical realism because it can be used as a cheap ploy for an author to get past plot problems, but de Bernieres uses it judiciously.
If you’re inspired to read something by de Bernieres, I recommend BWW or CM first. Know that the first 50-75 pages are tough (he admits his novels have a built-in mechanism to weed out readers with poor concentration), but after that they're glorious. I find it absolutely necessary to make a list of characters for reference in the beginning.
Wednesday, November 19, 2008
Anne Rice and Athens, Texas
This was a real surprise. I don’t listen to a lot of the NR Between the Covers interviews but the Anne Rice interview intrigued me because of her recent re-conversion to Christianity. About three-quarters of the way through, she mentions Athens [update in case I have a reader: my hometown, kinda] as a place with which Hollywood is unfamiliar.
I'd say so.
I'd say so.
Misdemeanor Hazing or Attempted Murder?
This DA’s career is over once the moms get through with him.
From the Chronicle’s website:
Harris County District Attorney Kenneth Magidson said Wednesday the ex-cheerleaders restrained several junior varsity cheerleaders, blindfolded them, bound their hands and pushed them into a swimming pool in an off-campus hazing incident.
From click2houston.com The indicted cheerleaders include:
Kelly, 17
Hannah, 18
Haley, 17
Kristen, 17
Adelynn, 18
Meigan, 18
Madison, 17
Only in Texas. This is worse than waterboarding and the charge is hazing?
H/t: Jeff Ward
From the Chronicle’s website:
Harris County District Attorney Kenneth Magidson said Wednesday the ex-cheerleaders restrained several junior varsity cheerleaders, blindfolded them, bound their hands and pushed them into a swimming pool in an off-campus hazing incident.
From click2houston.com The indicted cheerleaders include:
Kelly, 17
Hannah, 18
Haley, 17
Kristen, 17
Adelynn, 18
Meigan, 18
Madison, 17
Only in Texas. This is worse than waterboarding and the charge is hazing?
H/t: Jeff Ward
Getting prepared for greater deficit spending
I expect that Obama will undertake some infrastructure spending and that such spending will increase the deficit over where it is at now. Here's a good post (by Tim Fernholz writing at The American Prospect's blog) with graphs (the work of John Irons at EPI) that shows where we're at, historically, with regard to deficit, and makes the case that there's some room to increase the deficit without approaching historically high deficits (all normalized for GDP). (Am wishing he included debt graphs as well.)
Romney on the Detroit Three
In the NYT:
[First...] That extra burden is estimated to be more than $2,000 per car. Think what that means: Ford, for example, needs to cut $2,000 worth of features and quality out of its Taurus to compete with Toyota’s Avalon. Of course the Avalon feels like a better product — it has $2,000 more put into it. Considering this disadvantage, Detroit has done a remarkable job of designing and engineering its cars. But if this cost penalty persists, any bailout will only delay the inevitable.
Second, management as is must go. New faces should be recruited from unrelated industries — from companies widely respected for excellence in marketing, innovation, creativity and labor relations.
[First...] That extra burden is estimated to be more than $2,000 per car. Think what that means: Ford, for example, needs to cut $2,000 worth of features and quality out of its Taurus to compete with Toyota’s Avalon. Of course the Avalon feels like a better product — it has $2,000 more put into it. Considering this disadvantage, Detroit has done a remarkable job of designing and engineering its cars. But if this cost penalty persists, any bailout will only delay the inevitable.
Second, management as is must go. New faces should be recruited from unrelated industries — from companies widely respected for excellence in marketing, innovation, creativity and labor relations.
Tuesday, November 18, 2008
Longhorn Football Future?
From the Houston Chonicle:
Texas defensive coordinator Will Muschamp has been named head football coach-in-waiting to eventually replace Mack Brown at the University of Texas, athletic director DeLoss Dodds said Tuesday.
"We have decided to build our future from the inside," Dodds said.
Dodds said Muschamp will make $900,000 annually beginning Jan. 1 and contract details will be finalized at a later date.
"We’re looking at our future, and he will be our future," Dodds said.
Not sure I like what this portends.
Texas defensive coordinator Will Muschamp has been named head football coach-in-waiting to eventually replace Mack Brown at the University of Texas, athletic director DeLoss Dodds said Tuesday.
"We have decided to build our future from the inside," Dodds said.
Dodds said Muschamp will make $900,000 annually beginning Jan. 1 and contract details will be finalized at a later date.
"We’re looking at our future, and he will be our future," Dodds said.
Not sure I like what this portends.
Car Query since the ailing three are on the verge
I have a Dodge Dakota truck. Since I’ve been buying, I’ve had a Ford that was made in Germany (Jim Rome’s sled..boy was that a mistake after year 2), a Honda Accord, and Ford Taurus.
Our former blog brother and spouse have two Ford SUVs though both have also owned Toyota’s in the past.
I know LJ once had a Lexus.
I’ve never really bought anything over something else because it was made here that I can recall but I do remember being a bit self-satisfied that my "German" car profited Ford.
Our former blog brother and spouse have two Ford SUVs though both have also owned Toyota’s in the past.
I know LJ once had a Lexus.
I’ve never really bought anything over something else because it was made here that I can recall but I do remember being a bit self-satisfied that my "German" car profited Ford.
Cuban conspiracy
I can't claim to be following the Mark Cuban insider trading story. But I noticed this at HuffPo, and pass it along for the pleasure of conspiracy buffs:
Later in the day the complaint was filed and after Mr. Cuban posted his rebuttal, an item appeared on a New York Times blog that makes me understand why Mr. Cuban seems to be throwing caution to the wind and making his accusation. In what the Times characterized as a "purported email" from an SEC staffer to Mr. Cuban, it is revealed that there was bad blood between the agency and Cuban not just as a result of the accusations about his sale of stock in mamma.com. Cuban is taken to task for his financial backing of the series of documentaries entitled, "Loose Change." The films set forth a case for a conspiracy among individuals in the U.S. government to bring about the destruction of the World Trade Center towers on September 11, 2001.
Niall Ferguson at Vanity Fair on the Meltdown
Long article of which I understood maybe a third but I did like this:
This is no new insight. In the 400 years since the first shares were bought and sold on the Amsterdam Beurs, there has been a long succession of financial bubbles. Time and again, asset prices have soared to unsustainable heights only to crash downward again. So familiar is this pattern—described by the economic historian Charles Kindleberger—that it is possible to distill it into five stages:
(1) Displacement: Some change in economic circumstances creates new and profitable opportunities. (2) Euphoria, or overtrading: A feedback process sets in whereby expectation of rising profits leads to rapid growth in asset prices. (3) Mania, or bubble: The prospect of easy capital gains attracts first-time investors and swindlers eager to mulct them of their money. (4) Distress: The insiders discern that profits cannot possibly justify the now exorbitant price of the assets and begin to take profits by selling. (5) Revulsion, or discredit: As asset prices fall, the outsiders stampede for the exits, causing the bubble to burst.
The key point is that without easy credit creation a true bubble cannot occur. That is why so many bubbles have their origins in the sins of omission and commission of central banks.
This is no new insight. In the 400 years since the first shares were bought and sold on the Amsterdam Beurs, there has been a long succession of financial bubbles. Time and again, asset prices have soared to unsustainable heights only to crash downward again. So familiar is this pattern—described by the economic historian Charles Kindleberger—that it is possible to distill it into five stages:
(1) Displacement: Some change in economic circumstances creates new and profitable opportunities. (2) Euphoria, or overtrading: A feedback process sets in whereby expectation of rising profits leads to rapid growth in asset prices. (3) Mania, or bubble: The prospect of easy capital gains attracts first-time investors and swindlers eager to mulct them of their money. (4) Distress: The insiders discern that profits cannot possibly justify the now exorbitant price of the assets and begin to take profits by selling. (5) Revulsion, or discredit: As asset prices fall, the outsiders stampede for the exits, causing the bubble to burst.
The key point is that without easy credit creation a true bubble cannot occur. That is why so many bubbles have their origins in the sins of omission and commission of central banks.
Monday, November 17, 2008
Bailing out on bailouts
Bush administration decides to not use $350 of the $700 billion dedicated to bailouts. Instead they're leaving that for Obama's administration to do with as they see fit. Good grief. Paulson's whole idea, with Congress' approval, was that this money needed to be spent immediately, wasn't it? That was what, four weeks ago? six? I so with that Obama would on Jan, 21, 2009 say that we're not going to apply the money to bailing out failing companies, but instead will use it to commission infrastructure projects. I don't have high hopes that that will happen, but I can dream.
Prince, a Republican Spokesman????
Do not want to get into a discussion of the Bible but...Yikes!
The purple one would not exactly my first choice. His Androgynousness in the New Yorker:
So here’s how it is: you’ve got the Republicans, and basically they want to live according to this.” He pointed to a Bible. “But there’s the problem of interpretation, and you’ve got some churches, some people, basically doing things and saying it comes from here, but it doesn’t. And then on the opposite end of the spectrum you’ve got blue, you’ve got the Democrats, and they’re, like, ‘You can do whatever you want.’ Gay marriage, whatever. But neither of them is right.”
When asked about his perspective on social issues—gay marriage, abortion—Prince tapped his Bible and said, “God came to earth and saw people sticking it wherever and doing it with whatever, and he just cleared it all out. He was, like, ‘Enough.’ ”
I'd've thought him to be the last person to be opining on "sticking it wherever..." Also, while I'll not call into question his JW faith or his knowledge of the Bible, I'm pretty sure that if he's referring to Jesus when he says "God came to earth," he's dead wrong. If he's referring to the visit to Abraham...and I'd be shocked if he were, maybe.
The purple one would not exactly my first choice. His Androgynousness in the New Yorker:
So here’s how it is: you’ve got the Republicans, and basically they want to live according to this.” He pointed to a Bible. “But there’s the problem of interpretation, and you’ve got some churches, some people, basically doing things and saying it comes from here, but it doesn’t. And then on the opposite end of the spectrum you’ve got blue, you’ve got the Democrats, and they’re, like, ‘You can do whatever you want.’ Gay marriage, whatever. But neither of them is right.”
When asked about his perspective on social issues—gay marriage, abortion—Prince tapped his Bible and said, “God came to earth and saw people sticking it wherever and doing it with whatever, and he just cleared it all out. He was, like, ‘Enough.’ ”
I'd've thought him to be the last person to be opining on "sticking it wherever..." Also, while I'll not call into question his JW faith or his knowledge of the Bible, I'm pretty sure that if he's referring to Jesus when he says "God came to earth," he's dead wrong. If he's referring to the visit to Abraham...and I'd be shocked if he were, maybe.
Friday, November 14, 2008
Left/Right blogs
Are there other blogs where people from different ends of the political spectrum banter and discuss? I've seen sites that have areas cordoned off for writers from the left and writers from the right, but they don't talk to each other. I haven't seen others doing what we've been up to. Can't say I've looked all that much, though.
Michael's and my grandparents were dedicated to opposing parties. Our grandmother was a Republican and our grandfather, a labor union leader, was a Democrat. They both voted reliably to be sure to cancel out one another's votes. But I don't recall them ever arguing about politics. I spent a fair amount of time with them watching the Watergate hearings, which were no end of amusement to Grandpa. Maybe that wasn't much fun for Grandma.
Michael's and my grandparents were dedicated to opposing parties. Our grandmother was a Republican and our grandfather, a labor union leader, was a Democrat. They both voted reliably to be sure to cancel out one another's votes. But I don't recall them ever arguing about politics. I spent a fair amount of time with them watching the Watergate hearings, which were no end of amusement to Grandpa. Maybe that wasn't much fun for Grandma.
Re: Suffocation
I have no idea about those numbers but have every inclination to believe that they are higher than we are led to believe.
To mix our metaphors, we've got to stop the bleeding. These bailouts have to stop if not repealed. Paulson seems to have no idea what he's doing. I choked on President Bush's homage to capitalism yesterday. Pay-go seems to have disappeared completely (not that I ever really believed it more than a game). Social Security and Medicare are a current mess and future disaster.
We are spiraling toward a Eutopia. Let's just take the system that has brought more wealth to more people in the history of the planet--a system where the poorest are overweight, have cell phones, a car and air conditioning--and just flush it. Fine.
Heaven help our children.
To mix our metaphors, we've got to stop the bleeding. These bailouts have to stop if not repealed. Paulson seems to have no idea what he's doing. I choked on President Bush's homage to capitalism yesterday. Pay-go seems to have disappeared completely (not that I ever really believed it more than a game). Social Security and Medicare are a current mess and future disaster.
We are spiraling toward a Eutopia. Let's just take the system that has brought more wealth to more people in the history of the planet--a system where the poorest are overweight, have cell phones, a car and air conditioning--and just flush it. Fine.
Heaven help our children.
Thursday, November 13, 2008
Suffocating
Rep. Jim Cooper (TN) writing at HuffPo:
It is the Financial Report of the U.S. Government, issued by the U.S. Treasury and signed by Secretary Henry Paulson. It is the only official government document that uses audited, accrual accounting to describe America's financial position.
It is also one of Washington's best-kept secrets. Neither Bush nor Paulson has mentioned it publicly because it reveals national deficits and debts that are much larger than the public has been told. The media have unwittingly participated in the cover-up.
Last year's Report said that the true national debt or "fiscal gap" was not $4 trillion, or even $9 trillion, but $53 trillion. Understanding the difference between these numbers is vital. Does America have a bad cold, the flu, or is it cancer?
We owe $4 trillion if you don't count the $5 trillion that the federal government has already borrowed from the Social Security "trust fund." Many economists say that you don't need to count intra-governmental borrowing, and politicians love the smaller figure. But seniors will demand their full Social Security checks. To protect them, we must recognize that we have borrowed the full $9 trillion.
Even the $9 trillion figure is misleading if you add this year's bailouts and war expenses. The official U.S. debt ceiling was recently raised to $11.3 trillion. In addition, Medicare is facing a shortfall of $30 trillion that the usual Washington budgets fail to recognize. This, plus other entitlement program shortfalls, means that our true fiscal gap is $53 trillion.
Please stop; I can’t breathe
Nov. 13 (Bloomberg) -- President George W. Bush today urged leaders of the world's biggest economies not to abandon free- market capitalism as they seek an escape from the financial crisis, calling it the "best system'' for delivering growth.
Wednesday, November 12, 2008
Re: the Tin Cup
Silly me, I forgot all about the cities:
The Detroit City Council passed a resolution today calling for a $10-billion bailout for the city of Detroit.
The Detroit City Council passed a resolution today calling for a $10-billion bailout for the city of Detroit.
I can't
express how sad this makes me. I'm done here. I'll explain it later, but you must know that it has nothing to do with the arguments and name calling, which I relish more than you do.
Tuesday, November 11, 2008
Whitey tape: the ghost of Lee Atwater?
Just caught the last 20 minutes of Boogie Man, the documentary about Lee Atwater. It took my breath away to hear about how Atwater was behind a "story" that broke during the 1988 race that there existed a photo of Kitty Dukakis burning a flag. Of course there was no such photo.
Sound anything like the "story" about Michelle Obama's "whitey" tape?
Sound anything like the "story" about Michelle Obama's "whitey" tape?
Newt v. Steele
The vote is on.
My personal preference is Steele because of my late grandmother's extreme dislike of Newt, in spite of her basic conservatism. Newt is clearly one of the better thinkers of the right but he has far too much baggage.
My only Steele reluctance is his race. Not because he's African-American but but because his African-Americanishness might be perceived as some kind of calculated response to the President-elect.
My personal preference is Steele because of my late grandmother's extreme dislike of Newt, in spite of her basic conservatism. Newt is clearly one of the better thinkers of the right but he has far too much baggage.
My only Steele reluctance is his race. Not because he's African-American but but because his African-Americanishness might be perceived as some kind of calculated response to the President-elect.
Suggestions welcomed
I'm getting a bit bored with the songs on my iPod and will be doing a revamping of my playlists. In the spirit of bipartisanship, I would welcome suggestions on songs/artists to add. I have a wide, varied and at times, eclectic taste in music. To give everyone an idea, here is a partial listing of the artists currently in my rotation:
10,000 Maniacs
50Cent
A Perfect Circle
ABBA
AC/DC
Alanis Morissette
Alison Krauss
Annie Lennox
Asleep at the Wheel
Barry White
Bauhaus
Beastie Boys
Black Sabbath
Bob Dylan
Bryan Ferry
Cowboy Junkies
David Bowie
Depeche Mode
Edith Piaf
Eminem
Erasure
Fiona Apple
Janis Joplin
Jay-Z
Joe Jackson
Johhny Cash
Joni Mitchell
Joy Division
k.d. lang
Led Zeppelin
Marvin Gaye
Metallica
N.W.A.
Neil Diamond
Nine Inch Nails
No Doubt
Oasis
Pink Floyd
Prince
Radiohead
Roxy Music
Snoop Dogg
Smashing Pumpkins
The Cure
The Killers
The Smiths
Tool
U2
White Stripes
Willie Nelson
Wynonna Judd
Yeah Yeah Yeahs
some misc Bollywood
Broadway soundtrack of Evita
I have only 2 restrictions: (1) no Christian music (2) no Bela Fleck.
Thanks in advance.
10,000 Maniacs
50Cent
A Perfect Circle
ABBA
AC/DC
Alanis Morissette
Alison Krauss
Annie Lennox
Asleep at the Wheel
Barry White
Bauhaus
Beastie Boys
Black Sabbath
Bob Dylan
Bryan Ferry
Cowboy Junkies
David Bowie
Depeche Mode
Edith Piaf
Eminem
Erasure
Fiona Apple
Janis Joplin
Jay-Z
Joe Jackson
Johhny Cash
Joni Mitchell
Joy Division
k.d. lang
Led Zeppelin
Marvin Gaye
Metallica
N.W.A.
Neil Diamond
Nine Inch Nails
No Doubt
Oasis
Pink Floyd
Prince
Radiohead
Roxy Music
Snoop Dogg
Smashing Pumpkins
The Cure
The Killers
The Smiths
Tool
U2
White Stripes
Willie Nelson
Wynonna Judd
Yeah Yeah Yeahs
some misc Bollywood
Broadway soundtrack of Evita
I have only 2 restrictions: (1) no Christian music (2) no Bela Fleck.
Thanks in advance.
Exuberance
LJ, you're certainly entitled to your exuberance but I find it curious from a guy who, less than three weeks ago, was undecided. I assume it is more just disgust with Republicans than joy over the victory, or, did your views change markedly in the last couple of weeks?
I've voted for the lesser of two evils in the last five elections. The last time I was excited as the left seems to be was in 1988 when I thought President Bush the Elder was a genuine conservative. I was wrong though he got Justice Thomas right.
I've voted for the lesser of two evils in the last five elections. The last time I was excited as the left seems to be was in 1988 when I thought President Bush the Elder was a genuine conservative. I was wrong though he got Justice Thomas right.
The autism spectrum
Benedict Carey at the NYT today highlights a big new idea that links autism and schizophrenia, putting them at opposite ends of a spectrum of behaviors that have genetic foundations. This is just an idea at this point, but fascinating.
I have a friend who works with autistic kids in the public schools so she's always noticing and pointing out behaviors that show we all lie somewhere on the autism spectrum. I, for example, flap my hands a bit when extremely time-crunched.
I have a friend who works with autistic kids in the public schools so she's always noticing and pointing out behaviors that show we all lie somewhere on the autism spectrum. I, for example, flap my hands a bit when extremely time-crunched.
Bush's "Conservatism"
From Goldberg's LA Times column:
Bush's brand of conservatism was always a controversial innovation on the right. Recall that in 2000 he promised to be a "different kind of Republican," and he kept his word. His partner in passing the No Child Left Behind Act was liberal Massachusetts Sen. Ted Kennedy. Bush's prescription drug benefit -- the largest expansion of entitlements since the Great Society -- was hugely controversial on the right. He signed the McCain-Feingold bill to the dismay of many Republicans who'd spent years denouncing campaign-finance "reform" as an assault on freedom of speech. The fight over his immigration plan nearly tore the conservative movement apart.
…
And Bush admitted as much [compassion=large gov’t programs]. In an interview with the Weekly Standard's Fred Barnes, Bush explained that he rejected William F. Buckley's brand of anti-government conservatism. Conservatives had to "lead" and to be "activist," he said. In 2003, Bush proclaimed that when "somebody hurts" government has to "move." This wasn't a philosophy of government as much as gooey marketing posing as principle. Ronald Reagan would have spontaneously burst into flames if he'd uttered such sentiments.
Bush's brand of conservatism was always a controversial innovation on the right. Recall that in 2000 he promised to be a "different kind of Republican," and he kept his word. His partner in passing the No Child Left Behind Act was liberal Massachusetts Sen. Ted Kennedy. Bush's prescription drug benefit -- the largest expansion of entitlements since the Great Society -- was hugely controversial on the right. He signed the McCain-Feingold bill to the dismay of many Republicans who'd spent years denouncing campaign-finance "reform" as an assault on freedom of speech. The fight over his immigration plan nearly tore the conservative movement apart.
…
And Bush admitted as much [compassion=large gov’t programs]. In an interview with the Weekly Standard's Fred Barnes, Bush explained that he rejected William F. Buckley's brand of anti-government conservatism. Conservatives had to "lead" and to be "activist," he said. In 2003, Bush proclaimed that when "somebody hurts" government has to "move." This wasn't a philosophy of government as much as gooey marketing posing as principle. Ronald Reagan would have spontaneously burst into flames if he'd uttered such sentiments.
Someone in Canada has way too much time on her/his hands
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President-elect Obama may keep Gates on for a year
From the WSJ. H/t: HotAir.
That would be a great decision and would give me some real assurance about how President-elect Obama views the dangers we face.
Update: Had to love this part:
Still, speculation that Mr. Gates would remain in the job increased over the weekend when Senate Majority Leader Harry Reid (D., Nev.) endorsed the idea in a CNN interview. "Why wouldn't we want to keep him?" Sen. Reid said. "He's never been a registered Republican."
That would be a great decision and would give me some real assurance about how President-elect Obama views the dangers we face.
Update: Had to love this part:
Still, speculation that Mr. Gates would remain in the job increased over the weekend when Senate Majority Leader Harry Reid (D., Nev.) endorsed the idea in a CNN interview. "Why wouldn't we want to keep him?" Sen. Reid said. "He's never been a registered Republican."
Pollsters accuracy
Kos provides this tally of the big polls on their national numbers for the presidential race:
Not every ballot has been counted, so the national popular vote percentages may continue to shift. But as of now, here are the pollsters ranked by how far off the mark they ended up:
CNN: 0.5
Ipsos: 0.5
Pew: 0.7
Rasmussen: 0.7
ARG: 1.5
Research 2000: 1.7
ABC: 2.5
IBD: 2.7
Hotline: 3.7
Gallup: 4.5
Zogby: 4.5
Battleground: 5.7
CBS: 5.7
Fox: 5.7
Holy Cow
CLARIFICATION: Everything in this post is a HOAX/PARODY.
"While a state congressman, Barack Obama used to pimp out his wife Michelle and his two young daughters on the streets of Chicago for dime bags of crack."
Stunning, if it's true. Steph, I think you should be able to get your money back. I'm guessing you wouldn't have contributed had you known that he was pimping out his wife and two young daughters on the streets of Chicago for dime bags of crack. True or not, the party is destroying him by telling these tales.
This reporting is coming from various sources, including Newsweek. I guess they will now be lumped into the ever-expanding list of "conservative media" outlets. He is woefully un-qualified for the office of president. If he pimped out his wife and two young daughters on the streets of Chicago for dime bags of crack, I would suggest to you that he isn't qualified to be the mayor of Chicago. Then again, Chicago has been electing corrupt politicians forever. Guess things are VERY different up there.
There's speculation that the sources for these stories were fans of Hillary’s so they're sandbagging him on behalf of Hill with an eye to 2012. But the DNC is dispatching lawyers to Illinois to look into it which sounds more like a full-party effort to undo him.
I heard this subject discussed today on a leftie radio program. Their answer was, of course, no they did not have a duty to replace him. Here was the reasoning: If you (Biden) felt that you were better for the country as Vice-President than Palin, then you say nothing because if you do, you lose. If you win and Obama becomes President, the WH has people that can and will tell him to stop pimping out his wife and two young daughters for dime bags of crack.
Not quite sure I followed that logic, but they are grasping at anything try and not blame Cokehead Barry.
Not that I'm a prayerful person, but if I were, I would pray to whomever that Obama runs in 2012. If he is the best the lefties can come up with, THAT is the ultimate clue to show how far the Democrat party has fallen. Talking about scraping the bottom of the barrel.
Can we agree on this?
If it is true that campaign staff learned that Obama pimped out his wife and two young daughters for dime bags of crack, did they not have a responsibility to the people of this country to replace him on the ticket? Was it OK for them to view this as simply an adversarial process where they had the right to try to win with him?
I say they had a duty to replace him.
And what I'm trying to ask shouldn't be a partisan question. Does a party have a smidgeon of a fiduciary duty to provide candidates with enough crack so they don’t have to pimp out their wives and young daughters for dime bags of crack? (And, btw, I would not be surprised if his crack habit started at Columbia with Ayers.) I suspect we haven't thought about it before because the parties have never submitted someone so thoroughly hooked on crack.
Hey I’m not slandering Obama, the DNC did. I'm asking an earnest question: did your party have a fiduciary duty to remove him when they learned he was pimping out his wife and two young daughters for dime bags of crack?
Per CNN, on the Obama infighting:
One source involved in preparing him for interviews and the presidential debate told CNN "he had been pimping out his wife and two young daughters for dime bags of crack for 10 years."
Priceless.
"While a state congressman, Barack Obama used to pimp out his wife Michelle and his two young daughters on the streets of Chicago for dime bags of crack."
Stunning, if it's true. Steph, I think you should be able to get your money back. I'm guessing you wouldn't have contributed had you known that he was pimping out his wife and two young daughters on the streets of Chicago for dime bags of crack. True or not, the party is destroying him by telling these tales.
This reporting is coming from various sources, including Newsweek. I guess they will now be lumped into the ever-expanding list of "conservative media" outlets. He is woefully un-qualified for the office of president. If he pimped out his wife and two young daughters on the streets of Chicago for dime bags of crack, I would suggest to you that he isn't qualified to be the mayor of Chicago. Then again, Chicago has been electing corrupt politicians forever. Guess things are VERY different up there.
There's speculation that the sources for these stories were fans of Hillary’s so they're sandbagging him on behalf of Hill with an eye to 2012. But the DNC is dispatching lawyers to Illinois to look into it which sounds more like a full-party effort to undo him.
I heard this subject discussed today on a leftie radio program. Their answer was, of course, no they did not have a duty to replace him. Here was the reasoning: If you (Biden) felt that you were better for the country as Vice-President than Palin, then you say nothing because if you do, you lose. If you win and Obama becomes President, the WH has people that can and will tell him to stop pimping out his wife and two young daughters for dime bags of crack.
Not quite sure I followed that logic, but they are grasping at anything try and not blame Cokehead Barry.
Not that I'm a prayerful person, but if I were, I would pray to whomever that Obama runs in 2012. If he is the best the lefties can come up with, THAT is the ultimate clue to show how far the Democrat party has fallen. Talking about scraping the bottom of the barrel.
Can we agree on this?
If it is true that campaign staff learned that Obama pimped out his wife and two young daughters for dime bags of crack, did they not have a responsibility to the people of this country to replace him on the ticket? Was it OK for them to view this as simply an adversarial process where they had the right to try to win with him?
I say they had a duty to replace him.
And what I'm trying to ask shouldn't be a partisan question. Does a party have a smidgeon of a fiduciary duty to provide candidates with enough crack so they don’t have to pimp out their wives and young daughters for dime bags of crack? (And, btw, I would not be surprised if his crack habit started at Columbia with Ayers.) I suspect we haven't thought about it before because the parties have never submitted someone so thoroughly hooked on crack.
Hey I’m not slandering Obama, the DNC did. I'm asking an earnest question: did your party have a fiduciary duty to remove him when they learned he was pimping out his wife and two young daughters for dime bags of crack?
Per CNN, on the Obama infighting:
One source involved in preparing him for interviews and the presidential debate told CNN "he had been pimping out his wife and two young daughters for dime bags of crack for 10 years."
Priceless.
It's a hoax
and you wanted so much to believe the worst you fell for it. I told you immediately it was bs and so did Scooter. Retractions anyone?
More at Hot Air.
More at Hot Air.
Monday, November 10, 2008
Howard Dean
Congrats to Governor Dean...stepping down after an extremely successful campaign. H/T Hot Air.
Re: Another Day
Iain Murray at the Corner has more thoughts from PJ O'Rourke and a new to me blogger:
If I hear one more conservative pundit say "conservatives are the adults at this party" (or a similar thought), I'm gonna haul off.
I loved the MLK quote. She's right, too. If you're an adult, act like one.
Udate: I'd have used "Republicans" in the internal quote. I wouldn't call them genuine conservatives.
If I hear one more conservative pundit say "conservatives are the adults at this party" (or a similar thought), I'm gonna haul off.
I loved the MLK quote. She's right, too. If you're an adult, act like one.
Udate: I'd have used "Republicans" in the internal quote. I wouldn't call them genuine conservatives.
Re: Another Day, Another Bailout
The more I think about Stephanie's post [Update/correction, just noticed it was LJ's post] the angrier I get at my political "heroes." Who would have thought I'd be praising Circuit City for doing the honorable thing and committing economic hari kari today? This is how it is supposed to work.
If you have a bad business model, you fail. You're assets are then scooped up by evil capitalists looking to put those assets to a better use.
If the "big" three are to be bailed out, and they shouldn't be, any money should be conditioned upon the immediate removal of the CEO, CFO, COO, President or all VPs (there has to be some continuity I suppose), and one-half the board. Also, the top officers of the union should be required to resign.
Alternative II: just sign all the stock over to the employees and former employees and say, "Here, have a go."
While Stephanie and I are on opposite ends of the spectrum, we both saw the prudence of slowing down in September. This is just insane.
If you have a bad business model, you fail. You're assets are then scooped up by evil capitalists looking to put those assets to a better use.
If the "big" three are to be bailed out, and they shouldn't be, any money should be conditioned upon the immediate removal of the CEO, CFO, COO, President or all VPs (there has to be some continuity I suppose), and one-half the board. Also, the top officers of the union should be required to resign.
Alternative II: just sign all the stock over to the employees and former employees and say, "Here, have a go."
While Stephanie and I are on opposite ends of the spectrum, we both saw the prudence of slowing down in September. This is just insane.
Kristol on Emanuel
Kristol says something that should be reassuring to Michael and Scooter:
But Kristol turns out to be wrong in his predictions about 90% of the time. So now I'm wondering whether your fear might be justified.
His selection of Rahm Emanuel as chief of staff suggests that Obama’s not going to be mindlessly leftist, and that he’s going to shape a legislative strategy that is attentive to Congressional realities while not deferring to a Congressional leadership whose interests may not be his own.
But Kristol turns out to be wrong in his predictions about 90% of the time. So now I'm wondering whether your fear might be justified.
Another day, another bailout
So AIG is getting ANOTHER bailout from the Treasury Department. OK, it may not be another one, but just a restructure of the original one. As I have stated earlier on these pages, I thought the cornerstone of the Republican/Conservative ideal was less government, free-market, yadda yadda yadda. Yea, right.
Up next on the bail-out list will be the auto industry. I'm sure the line of companies/industries with their hand out is a long one. Way to stick up for your principles, righties. You have become very good at rationalizing these breaks from conservative tenants.
Up next on the bail-out list will be the auto industry. I'm sure the line of companies/industries with their hand out is a long one. Way to stick up for your principles, righties. You have become very good at rationalizing these breaks from conservative tenants.
Sunday, November 09, 2008
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