Monday, December 22, 2008
What If They’re Wrong?
This is, to say the least, highly unusual stuff.
Of course, Minnesota, Wisconsin and the East are getting whacked with vicious winter storms, but that’s normal. What is not normal is that winter has not yet officially arrived. Starts tomorrow.
Since this has started out to be a record breaking cold winter you might well imagine my surprise when the environmental clergy announced that a necessary step in curbing the planet-threatening advance of global warming would be the taxation of cow farts. Yes indeed, bovine flatulence, we are told, represents a large contributor to greenhouse gases. A tax on each offending cow seems to be the only idea on the table.
My entrepreneurial mind immediately clicked with an alternative. Why not, I mused, instead insert a tube into the anus of each cow and attach to it an inflatable balloon? The captured methane could then be collected and burned to generate electricity! Hey, it’s renewable energy and that’s what we’re looking for, right? I can see no flaw in this proposal.
Having quickly dealt with cow farts, a sacrilegious thought occurred to me: What if these guys are wrong about global warming? What if, instead of warming the planet is actually cooling? What if the school of science that links previous cycles of solar activity (sunspots) to warming and cooling periods on Earth are right and the sun determines these things, not whatever Man may or may not do? The evidence suggests we should give it some consideration… not to mention looking out the window and checking out the temp and snow depth from time to time.
The Maunder Minimum, an extended period of low sunspot activity occurred between 1645 and 1715 and coincides with the Little Ice Age. Cooling and warming periods also correlate with the Medieval Minimum (1040 to 1080) and Medieval Maximum (1100 to 1250) although one has to wonder who was measuring this stuff. Scientists also claim that solar cycles correlate perfectly with warming and cooling periods on Mars. Since I have heard no reports on the discovery of SUVs on Mars, I think we can pretty much rule out human activity having much to do with it.
Solar activity comes and goes on roughly an eleven-year cycle and on that pace does not have a significant impact as the warming and cooling effects get dampened somewhat by the oceans. You may remember from 8th grade science that the oceans cover about 75% of the globe…. A big heat sink. When the sun refuses to adhere to the eleven-year cycle, things can get out of hand. The question: will the current minimum in sunspot activity be a short one, or will we be in for the next ice age?
Bjorn Lonborg in The Skeptical Environmentalist points out that global cooling is a far bigger problem than global warming. Shorter growing seasons and less land mass available for cultivation make food an issue. And, he points out, far more people today die as a result of cold than heat. The consensus among scientists holds that by the end of the century, if global warming were to continue at the pace of the last 50 years, that the Earth would increase in temperature by 2 degrees and the oceans would rise by 8 inches. Not a big problem, and may actually be a benefit as more of the northern latitudes become available for food production.
President-elect Obama promised during the campaign to “save the planet and stop the oceans from rising”. (No point in setting modest goals.) With that in mind, he has loaded his incoming administration with global warming and anti-carbon true believers. They will certainly pursue a series of policies to battle global warming and reduce our national carbon footprint. I think it is worth asking if this is exactly the wrong prescription for what ails us? What if Al Gore and his acolytes are exactly wrong and the Earth is getting colder? What if instead of shutting down coal fired electrical plants and restricting oil drilling we should be doing the opposite, just so we can stay warm in the next decade? What if instead of propping up the auto industry we should be helping out the snowshoe industry? It’s something to think about.
By the way, my wife just informed me our water pipes are frozen in the upstairs bathroom.
Sunday, December 7, 2008
Stupid is as Stupid Does
From the appointments we’ve seen so far it seems the “Change We Can Believe In” amounts to rehiring all the guys from the Clinton team. If memory serves Clinton was quite radical in his first two years… until the alarmed electorate voted in a Republican Congress in 1996. Clinton then got religion and governed more like the centrist he claimed to be.
Observers have tried to be optimistic that BHO, Pelosi and Reid would show some restraint with the economy in a shambles, but recent comments from the anointed ones do not inspire confidence. On the economic front it looks like the only idea anyone has is to throw more and more money at the problem. Damn the torpedoes of inflation or the ice burgs of government ownership of major industries. Don’t worry about the distant shoals of debt. Open the valves of spending. Full speed ahead!
Once the new Congress gets sworn in and get their furniture rearranged we should expect quick action on two Democrat pet projects: the Employee Free Choice Act and the Fairness Doctrine. These two turkeys could only have been named by Orwell’s Ministry of Truth for there is no “free choice” in the former or “fairness” in the latter.
The EFC Act is a sop to the unions who love the Democrats unconditionally and give them millions. Better known as the Card Check bill it makes it substantially easier to organize a union shop. Less than 10% of the US workforce is currently unionized, mostly government employees and workers in major industries. Union shops like automobile manufacturers and airlines have been falling like flies lately and entrenched unions rightly deserve a lot of the blame. Government unions produce no measurable product and even if they do (like the teachers unions) and the product is crap, they persist. This does not suggest greater unionization is a wonderful idea in this time of economic trouble.
The Fairness Doctrine is only designed to put conservative talk radio out of business. The left already controls the mainstream media…. TV, Hollywood and the major newspapers. This violation of the 1st Amendment would silence any dissent of the left wing agenda.
While some of Obama’s economic team may have convinced him that raising taxes during a recession is a formula for financial disaster, he seems determined to push ahead with his fight against global warming with his Cap and Trade program. He said recently, “[we] will establish strong annual targets that set us on a course to reduce emissions to their 1990 levels by 2020 and reduce them an additional 80% by 2050.” Remember, Obama promised during the campaign to bankrupt anyone who attempted to build a coal fired power plant.
VP candidate Biden in one of his memorable gaffs said, “We’re not supporting clean coal” and “…no coal plants here in America.” Harry Reid, Senate Majority Leader and dipshit buffoon, once said, “That is, coal makes us sick, oil makes us sick; it’s global warming. It’s ruining our country; it’s ruining our World. We’ve got to stop using fossil fuel.” Harry and BHO probably never bothered to check, but the US gets 85% of its energy needs from fossil fuels and 50% of the US electrical power is supplied by coal plants. Do they really believe that they can replace fossil fuel with solar and wind power? Does anyone believe that the radical environmentalists will ever allow the Democrats to build a single nuclear plant? Their only hope of replacing coal is nuclear and they can’t go there.
The significant phrase in Obama’s quote above is “strong annual targets”. That suggests to me that he plans to use the EPA to regulate greenhouse gas emissions and implement his Cap and Trade dreams through that behemoth. The EPA has already prepared an 18,000-page Advanced Notice of Proposed Rulemaking (ANPR) document regulating every emitting source from coal plants to lawn mowers. It amounts to a tax on energy, will cost trillions and wipe out jobs by the millions. Estimates from the Heritage Foundation suggest net job losses (that’s after you add in the “green” jobs created) at 500,000 per year and a cost of $5000 per household. American companies will be leaving the country in droves.
While this madness continues to rumble down the tracks we get this update on global warming from the US National Climatic Data Center. Seems the global temperature went DOWN in 2008 with some parts of the world seeing snow for the first time in memory. 2008 saw record snowfalls in China and Canada (Toronto’s Feb. snowfall the most since 1950). Sea ice build up in Antarctica was the largest in 30 years and even the much-discussed Artic saw increases of 10 to 20cm of ice. Nothing in yet from the polar bears.
[Editor's note: In April 2007, the news release about the dire situation of the Polar Bear was exposed by an Australian journalist as a hoax. The photo was not taken by Canadian environmentalists, but taken by a marine biology student more than two years before in the month of August--when ice caps are naturally melting--and the bear was within easy swimming distance of larger chunks of land; it was released by the AP along with the introduction of the UN's Global Warming Report.]
[Also, there are more reports from a group of international scientists on the global warming nonsense.]
According to Kenneth Tapping of the Canadian National Research Council, solar activity is way down. “The last time the sun was this inactive, Earth suffered the Little Ice Age that lasted five centuries and ended in 1850.” Gee, maybe the sun has something to do with global warming? OK, one winter does not an ice age make. But, it should give everyone a reason to look a little more critically at the absurd contortions of the global warming fanatics. More importantly, it should give our politicians pause before imposing an economy destroying policy on North America. You’d think, but I’m not betting on it.
Don’t count on the Democrats allowing any more drilling for oil or gas either. That’s way too logical.
Saturday, November 22, 2008
Gypo Pirates
It’s a growth industry. Estimates vary, but it appears the pirates made at least $40 million last year. The pirates, who likely could not effectively run a hot dog cart, live like Columbian drug czars. Ports like Eyl are booming with ransom money being spent by the pirate princes to purchase mansions and expensive cars.
This week the pirates captured the Sirius Star, an oil tanker about the size of a Nimitz Class aircraft carrier carrying $100 million dollars of oil. This ship joined some 14 others with 300 crewmen as hostages awaiting ransom payments. Insurance companies and ship owners are trying to figure out what to do. The UN and the International Maritime Organization dither while shippers consider the option of going around the South African cape to avoid the area altogether, adding 12 days to their voyage. Shipping costs are going up 25 to 30%.
Wednesday, November 19, 2008
Where’s the Bottom?
Saturday, November 8, 2008
Tom
And with that the old Marine turned and limped back the way he had come.
Author's Note: This is my first attempt to place some fiction on the blog. Certainly a departure from my "right wing rants" as one of my readers so charitably puts it. If you like "Tom"... great. If not, feel free to offer constructive criticism or suggestions on an alternative hobby. Don't recommend golf. I've already proven I'll never be any good at that damn game.
Wednesday, November 5, 2008
After the Euphoria
Charles Barkley
So, history has been made. The first black man has been elected President of the US. Joining him are overwhelming majorities in both houses of Congress. Together they form the most left wing government ever to preside over the country. Sure, there have been times when the Democrats held both the White House and Congress. LBJ had it and brought forth the “Great Society”, a massive expenditure of money and social programs enacted to wipe out poverty.
It didn’t.
He also escalated the conflict in Vietnam started by Jack Kennedy into a full-fledged debacle. He wisely decided not to run for reelection.
Carter had Democrat majorities in both houses following the Nixon disaster and managed to make a muck of just about everything. Reagan tossed him out on his ass after one term. Though Reagan had a Democrat Congress to contend with, he was immensely popular and adept at taking his case directly to the people. He cut taxes, stifled inflation and brought on a generation of prosperity. He handed off the Presidency to Bush 1 who foolishly broke his “no new taxes” pledge and pissed off the Republicans. They broke ranks and voted for third party candidate, Ross Perot. That gave Clinton the White House and a solid Democrat majority. Bill and Hillary over-reached with tax increases, gays in the military and an attempt to take over the health care system. Two years into Clinton’s first term, Newt Gingrich engineered “The Contract with America” and swept the Democrats from power in the House and Senate.
From 1996 until 2006 The Republicans held Congress and with the election of Bush in 1998 had for a time complete control. They messed it up, abandoning their own conservative principles, spending money like drunken fools and shipping home pork. The Contract with America was forgotten in the hope of hanging on to power. The Democrats regained the House and Senate in the 2006 elections. But, with Bush’s veto and enough Republicans in the Senate to maintain a filibuster, they were able to hold off the worst impulses of Pelosi and Reed. Now that faint restraint is gone.
Any Republican would have had an uphill battle in this election. In the early going the country had grown tired of the war in Iraq and very tired of George Bush. As the surge succeeded that issue fell off the table only to be supplanted by the economy. While the bursting bubble of the housing debacle and the consequent financial fallout cannot really be blamed on Bush, he takes the heat. It’s normal.
Despite these obstacles, I think McCain would have won except for one simple fact: Obama is black. Of course, he is a gifted orator and clever at evading tough questions. But, had he been white and espoused his socialist claptrap, he would have come under greater scrutiny. The media, enamored with the narrative of a black man as President, ignored his flip-flops, gaffs and questionable associations with radicals and racists. They were completely disinterested in his massive and questionable fundraising. They ignored his close association with ACORN and chose not to investigate his missing birth certificate, school or medical records or those missing years in his biography. Consequently, the US has just elected, as Tom Brokow admitted on the Charlie Rose Show the other day, ‘a guy we don’t know’. Gee Tom, whose fault is that? You pompous assholes in the MSM were so busy with tingles going up and down your legs that you couldn’t vet this guy? It’s a bit late to worry about where he’s taking the country now.
Naturally, minorities turned out in massive numbers to vote for the black man. No surprise there. College students and the young also registered and voted for the first time. For the young and idealistic who toil over textbooks and ideas and not as taxpayers yet, Obama represented a celebrity. “Hope and Change.” Hope for what? Change to what? Doesn’t matter. In our You Tube culture he is the perfect candidate. White liberals and moderates who could demonstrate their lack of prejudice and assuage white guilt by lining up and voting for this charismatic black man joined them.
One of my three faithful readers emailed me today and said he was troubled by the adoration shining on the faces in the crowd as they listened to Obama’s acceptance speech. I agree. Since we do not really know who this guy is yet and what he will do, it seems a bit early for hero worship. After the euphoria wears off and the Democrats begin to “fundamentally change America” we will see if there’s any buyer’s remorse. And, Barkley is right….. The poor will still be poor.
Friday, October 31, 2008
The US Election
--James Bovard, "Lost Rights"
With the US elections five days away, and if the polls can be believed, it looks like a Democrat sweep. This is as I predicted in November of 2006, although I had Hillary as the President. In my own defense as a prognosticator, Obama was not even on the radar at that time. Recent reports affirm that he set up a Presidential campaign committee in Iowa (the first caucus state) almost immediately following his election to the Senate, suggesting he had big plans from the start. Aided by a cheerleading media, and one remarkably disinterested in his questionable qualifications, links to unsavory individuals, massive fund raising and flip-flops on issues, he seems certain to carry the day. A massive turnout of minorities and young voters enthralled with this charismatic “messiah” should overcome the skeptical.
Obama’s unlikely rise to the pinnacle of power in this campaign marks a dramatic shift leftward in American politics for with his victory he will join a seriously left leaning Congress led by Nancy Pelosi and Harry Reid. There is an even chance that the Democrats will have a filibuster proof majority in the Senate rendering any check on Democrat legislation moot.
Democrats are drooling at the prospect of a filibuster proof Senate so they can pass The Fairness Doctrine. This is designed to simply put talk radio out of business. In other words, the Hell with free speech. With the main stream media essentially the public relations arm of the Democrats and gleefully cheering on Obama, shutting up the contrary voices on talk radio and Fox News would give the Democrats a clear monopoly on information. The First Amendment? An outdated concept. Think PBS all day, all the time.
So, what should we expect from a decidedly liberal President and Congress? Well, for starters your taxes are going up. Yeah, yeah, I know. BHO has said (endlessly) that 95% of Americans will get a cut. Of course, this is mathematically impossible since about 40% of Americans do not pay any taxes whatsoever. He finesses this problem by calling cash payments to people who pay NO taxes “tax cuts”.
Cute. He also calls various tax credits for child-care, purchase of a fuel-efficient car, etc. tax cuts.
Obama has certainly learned from Bill Clinton to parse his words carefully. (Remember: “It all depends on what the meaning of “is” is”?) He said, “I” will not raise taxes on the middle class.” The key word here is “I”. Congress would do it in any case, but more importantly, if Congress does nothing, the Bush tax cuts expire and taxes are automatically raised. Gottcha!
BHO and the Dems have convinced a lot of people that the Bush tax cuts screwed the middle class and only favored the “rich”. Wrong my liberal brethren. Here are a couple of examples. (If you want the entire list and the link where you could check this out yourself, send me an email without too many cuss words in it and I will send it to you.)
Under Clinton a single taxpayer earning $30K paid $8,400. After Bush’s cuts: $4,500.
A taxpayer under Clinton earning $75K paid $23,250. Under Bush: $18,750.
A married filer under Clinton earning $60K paid $16,800. Under Bush: $9,000.
Bottom line: If BHO and the Dems let the tax cuts expire as they have promised, the middle class will take a big hit. As to Obama’s promise not to hit the middle class… Bill Clinton made the same promise and two months into his term he raised them. Of course, “things had changed” and he was “forced” to do it. Given the (at minimum) $400 billion in additional spending he has promised….
Obama has also stated he wants to raise the rates on capital gains and dividends back to where it was during the Clinton Administration. Apparently he is so disconnected that he thinks only the wealthy own stocks. Millions of Americans have stocks in their IRAs, 401Ks or in various union and company retirement programs. This threat and the likelihood of an Obama victory are already driving the stock market down.
The US corporate tax rate (35%) is among the highest in the industrialized world. The liberals cannot conceive of reducing this tax to be more competitive and stop jobs from moving to friendlier environments. In fact, they have proposed windfall profits taxes on the oil industry (profits 9%). Carter did this and, predictably, it backfired. Remember the gas lines and oil going up 60%? No? How soon we forget.
Death taxes too are to revert to 55% after 2010; right back to where they started before the staged reduction. Same deal. Congress does nothing and bingo, you get a massive increase. BHO can still say “I” didn’t do it and besides, we need the money to put “fairness” back into the system. Sure, let’s screw the guy who spent a lifetime working his ass off.
Basically, BHO wants to increase the percentage of people who pay no taxes from 40% to 49%. This half of the American populace would have a big incentive to keep voting for the party that insures that their goodies keep flowing. (See “two wolves and a sheep” above.)
So what else? (To keep this from becoming book length I will try to be brief).
· Obama want to pass the “card check” law that would eliminate the secret ballot in whether or not a company would be unionized. Unions love this because it makes it far easier to organize a union and for this reason unions have given millions to BHO and the Democrats. Here’s how it works. “You want to join the union or would you like your legs broken? Sign here.” Even George McGovern hates this one.
* Democrats dislike free trade agreements. Obama let it slip early in his campaign that he would cancel NAFTA and force the Canadians and Mexicans to renegotiate. The Obama campaign was forced to send a guy to Ottawa to convince the Canadians that it was just campaign BS. Yeah? Pelosi has refused to even allow a vote on the Columbian Free Trade pact even though it would primarily help American manufacturers. Hoover passed the Hawley-Smoot protectionist legislation during the Depression. Unemployment went from 9% to 25%. Seem like a good idea now? (It’s a World Economy stupid.)
· Democrats have floated the idea of nationalizing IRA and 401K accounts and merging them into social security. They would guarantee you a rate of 3% on your investment. Whoopee. Argentina just did this.
· Obama has promised to eliminate missile defense. Does this sound like a great idea with an aggressive KGB controlled Russia and with Iran on the verge of acquiring nuclear weapons? He also wants to get rid of all nuclear weapons. Hopefully some cooler heads will slow him down there.
· Obama likes the idea of making illegal immigrants citizens. I guess he figures since we already spend some $90 billion supporting them with welfare, food stamps, free education and medical care, not to mention the cost of their crime, that we might as well make them Democrat voters. (See “wolves and sheep” above). More stats can be seen here.
· Our Dear Leader also likes the idea of cutting carbon emissions by 80%. Adding the prohibitive burden of a cap and trade program on to an economy in recession can only be described as suicidal.
· The next president will appoint at least a couple of Supreme Court justices. Obama has already said he finds the constitution an impediment to good social policy (socialist). He wants judges with a “social conscience”. Justice Hillary?
· Obama has made some stupid comments about Iran. However, the Iranians have come out in support of his candidacy. That in itself scares me. He’s also made some conflicting comments about Israel. I’m betting that if Iran decided to attack Israel CINC Obama would not lift a finger. This may indeed be what Biden was talking about when he let it slip that “Obama would be tested in his first six months and that we should stick with him even if we did not understand his actions.” Or, words to that effect. In case you missed it… Biden is an idiot.
· Obama hates guns. Anyone who believes in 2nd Amendment rights should be prepared for an assault on those rights in BHOs first term.
· BHO will owe a big debt to the teachers unions. Don’t look for any advances in charter schools or constraints on this obscene monopoly.
· He will also owe the trial lawyers big time. Figure on them continuing their predations on the economy.
· Drilling for more domestic oil and gas under a Obama, Pelosi, Reid power lock? Forget it.
And nuclear power? Not a chance.
I guess from the above you might conclude that I am not enthusiastic about an Obama Presidency and a Democrat majority in Congress. A hard yaw toward socialism will fail as it has in the past…. Think Carter, LBJ’s Great Society and FDR’s miserable record. But, the starry-eyed youth wetting their pants over Obama were not yet born when Carter screwed things up. And, nobody bothers to teach history anymore. So, we’ll get to learn this lesson all over again. Good luck.
PS. If McCain should somehow pull this out, I suggest you invest in a firearm and plenty of ammo. The race riots will make the aftermath of MLK’s death look like a peace march.
Sunday, October 26, 2008
The Politics of Personal Destruction
Hillary’s team became quite adept at dealing with “Bimbo Eruptions”, women who came forward with charges of sexual harassment and rape. Remember Gennifer Flowers, Kathleen Willey, Juanita Broaddrick and of course, Monica of blue dress fame? Hil and her BU team set out to publicly destroy these women using private investigators and by leaking false or misleading information to their friends and allies in the media. Trash them! That was the goal.
Hillary and her liberal-left fellow travelers in the media and Hollywood had already honed this skill in previous battles. She was, you may remember, one of the prosecutors in the Watergate trials that forced Nixon out. Later their techniques came to full flower in the fight over Robert Bork’s nomination to the Supreme Court, giving rise to a new verb for the English language… “borking”. Bork had only one failing, other than being intelligent and principled, he was a conservative. They trashed the guy and it worked. They tried the same thing with Clarence Thomas and only failed because he stood up in front of the Senate hearing and called it what it was, “a high tech lynching”. An embarrassed Senate confirmed him… barely.
Of course, for the last eight years there has been a steady drumbeat of attack and ridicule on George Bush from the left, the media and entertainment figures. “Bush is stupid” is the mantra, although he has a degree from Yale and an MBA from Harvard and had better grades than either Kerry or Dean. (Bill, Hillary and Obama have never released their college records). The hatred is quite amazing and cumulatively effective. Bush has the lowest approval rating of any President in recent history. Only two institutions have lower public approval ratings: Congress and the media. Hmmmmm?
Where does this hatred come from? The technique of teaching hatred is as old as Marxism itself. Karl Marx once boasted that “he was the greatest hater of the ‘so called positive’.” Lenin said, “We must teach our children to hate.” Bill Ayers, founder of the Weather-men, sixties bomber and admitted Marxist said, “Bring on the revolution, kill your parents, teach hatred.” He also is quoted as saying, “… the community organizer must first rub raw the resent-ments of the people and fan the latent hostilities to the point of overt expression.” I wonder if this is what famous “community organizer”, B. Obama was doing in Chicago? Just a thought.
Dr. Mark Hendrickson in a Townhall.com piece opines that while it’s a hate crime to express distain or denigrate gays and minorities, it is not to show outright hatred for people on the right who disagree with you politically. He also points out that the flip side of hatred is inflated self-love and self-righteousness so extreme that respect for other human beings diminishes and feelings of moral superiority allow for any tactics.
The tactics employed by the liberal-left are credited to the late Saul Alinsky, the philosophical guru of the radical movement in the late sixties. Alinsky wrote an extremely popular book called The Rules for Radicals. He said, “What follows is for those who want to change the world from what it is to what they believe it should be. The Prince was written by Machiavelli for the Haves on how to hold power. Rules for Radicals is written for the Have-Nots on how to take it away."
A brief summary of Alinsky’s rules clearly demonstrates that today’s leftists are operating right out of his handbook.
The only question about means is, do they work?
· Attack multiple issues.
· Target the middle class rather than the poor.
· Decisions are not necessarily driven by the good of mankind.
· Pretend morality
· Make the enemy live up to their own book of rules.
· Lead people to class based interpretations of their own grievances.
· Use the church to further your agenda.
· Pick a target, freeze it, and polarize it.
· Ridicule is the most powerful weapon.
Hillary was a big fan of Alinsky while at Wellesley and wrote her senior thesis on his book. Her paper entitled, “There is Only One Fight… An Analysis of the Alinsky Model” was kept under wraps while the Clintons were in the White House. Written in her senior year, 1969, it only became public in 2001. In her 92 page paper she made it clear she found much to admire in Alinsky’s work and at the same time was already thinking ahead. One observation that stands out was that “politics needs an enemy to mobilize against.” Or, as Amanda Carpenter pointed out in “Human Events”, “the village needs an enemy.”
If you look at the last two rules on Alinsky’s list you get a pretty good feel for what has been going on in the last eight years and during the current Presidential campaign. The liberal-left, including their allies in the media and Hollywood have selected targets and polarized them and using ridicule and fueled by hatred tried to destroy them. The list is long: Bush, Cheney, Ashcroft, Rice, Gonzales, Karl Rove, Halliburton and Big Oil, Wall Street and “The Rich”.
It explains how, acting in lockstep, they can ridicule Palin and attack anyone as “racist” who questions Obama’s relationships with Ayers, Reverend Wright, Syrian convicted felon, Tony Rezko or Jew hater, Louis Farrakhan. Ayers, Hillary and Obama were all fans of Alinsky. BHO even worked for the Industrial Area Foundation, an organization founded by Alinsky and financially supported by Clinton. Saul can certainly be credited with originating The Politics of Personal Destruction. Today’s leftists only perfected it.
Americans need to think carefully before putting Obama, clearly a radical and likely Marxist in the White House.
Monday, September 29, 2008
What happened?
Here's my short theory on how this happened. Keep in mind that I am not an economist.
1). Congress has actively encouraged banks to give mortgages to the marginally qualified (and even to those not qualified based on usual credit scoring). Remember the term "Red lining"? Banks were sued for not granting loans in large enough numbers to people living in certain areas of the city.
2). Easy money by the Fed was a standard policy for way too long which encourages excesses in the markets (real estate in particular in this case). Recall the recent escalation of home values.
3). Congressional oversight of Freddie and Fanny was way too lax. F & F were generous with their campaign contributions and got a lot of slack.... too much. The WSJ and others (including McCain) were complaining about this for years. Zillions of dollars of the mortgages from #1 above were pawned off on F & F which everyone figured was safe as can be cause they are ostensibly backed by the US gov't.
4). Following the Enron mess Congress in their enthusiasm to do something passed new accounting laws called Sarbanes-Oxley. This imposed a new rule called "mark to market" on how assets are valued.
5). The wizards on Wall Street figured out how to package the shaky mortgages into bond-like instruments that could be resold to banks and other institutions. And, like all manias everybody figured the dance would go on forever. But, the music stopped. When the bubble burst, the new mark to market rule made the mortgage assets worth essentially zero and put otherwise profitable and substantial businesses in (and this is a technical term) deep shit. Banks have strict capital ratios to maintain to be recognized as solvent in the eyes of the FDIC. Holding assets that become instantly worthless does not look good on the balance sheet.
Of course, in a big mess there is plenty of blame to go around. However, the guys who are escaping blame thus far are the guys who should get the lion's share..... Congress. They have been essentially tossing money at this thing from the beginning (prob 700 or so billion) and now want to throw another 700 billion or more at the wall and see if that sticks. I am not at all convinced that the "bailout" is the right answer. However, in the final weeks of the election cycle it is clear that the politicians have made it their goal to use this situation as an opportunity to get elected or re-elected. And especially the Democrats who repeatedly blocked reforms of F & F and continue to encourage loans to the unqualified. Not good. Kind of like fiddling while Rome burns.
Unfortunately, I think Obama will get elected and prolong the misery. His many proposals mirror those of FDR who, if you analyze history honestly, prolonged the depression. (You can look this up). Obie thinks FDR was just great. McCain has not been swift on this crisis either.
Not fun.
More bailout discussion can be enjoyed (with a handful of Prozac) by reading Thomas Sowell's article on Townhall.com. There's also an interesting (although arguably incorrect in some aspects) article comparing the US economy to the Titanic.
Thursday, September 25, 2008
Time for Humor?
In one of my early trips into the Bahamas as a deckhand aboard the Brigantine Yankee, we had one guest who set a new standard for obnoxiousness. Nothing pleased him and he complained in a loud voice about everything. He refused to follow any instructions from either the Captain or crew.
Sure enough. Just as I was about to shout to the guy to stop pumping it backfired with a resounding blast. It sounded like a hand grenade had gone off in the enclosed space.
***********
A Bunch of Blarney
In the 80s when our company represented the POS equipment manufacturer, VeriFone, I traveled frequently to San Francisco for meetings. On one trip after meeting with the sales managers we all headed out for dinner together. Maybe we had a few cocktails. It was a balmy evening so we all decided to walk back to the hotel. On the way I paused at the many beautiful buildings, put my nose up next to the granite facades and announced to my friends the identity of that particular granite. They all knew that I had been in the marble and granite business for 15 years before getting into the credit card market. I would sniff a wall of granite and announce, “Ah yes, this is Carnelian granite from South Dakota," or "this is Balmoral from South America.”
****************
Orange You Glad I Asked?
For my 50th birthday I got an unwelcome gift…. Adult Onset Diabetes. The tiny islet cells in my pancreas suddenly decided to quit making insulin. I had to go directly to the needle and injecting insulin. My doctor, a morose and humorless guy, sent me off to the hospital where a plus sized diabetes nurse trained me on how to properly load a needle and inject it. The latter skill we perfected by sticking the needle in and pumping it into an orange.
Dear Dr. Imsey,
Things do not seem to be working out as you can see by the attached graph. I have been injecting the insulin into the orange for the last couple of weeks with poor results. Should I eat the orange?
Dick
He called me for an immediate appointment and when I walked in he actually had a smile on his face.
Wednesday, September 10, 2008
K-129
· The US was heavily involved in the Vietnam War, devoting much blood and treasure to that conflict while the populace at home became increasingly disenchanted.
· The Soviets were spending 50% of their GDP on their military and facing the prospect of financial ruin in the process. Supporting communist insurgencies around the world also helped drain their coffers.
· The KGB led by Andropov and the Soviet central government led by Brezhnev struggled for power.
· The KGB had control of all nuclear weapons held by the Soviets.
· China had emerged as a new military power with nuclear capabilities.
· China and the USSR were at each other’s throats for dominance of International Communism. They were fighting each other on their long mutual border and the Soviets had one half of their total forces arrayed along that border.
· Mao Tse-tung had China in turmoil with his Cultural Revolution and became increasingly belligerent with both the Soviets and the US. He had threatened all out nuclear war with the US, contending China with its huge size would survive and the US would not.
· All branches of the Soviet military had their own special operations troops known as “spetnaz”. The KGB had them as well and they were known as “osnaz”. The Osnaz were especially nasty lads who specialized in “wet ops” (kidnapping and murder). They were also trained in the handling of nuclear weapons and all types of military equipment, including submarines. They operated in ten man teams.
On February 24, 1968 the diesel-electric Golf Class Soviet submarine K-129 sailed on an unscheduled mission from its homeport at Vladivostok. At the last minute an additional 11 men boarded the sub making the cramped boat seriously over crowded. The Soviets, always anal about the chain of command, required that all subs report in to Moscow at predetermined locations along their course. After the first check point K-129 was never heard from again. When the Soviets finally launched a massive sea search for their sub they concentrated on an area some 800 miles north of where the sub actually sank. That was where K-129 was supposed to be patrolling.
Post Script:
During the Cold War the Soviets employed what is known as the “Brezhnev Doctrine” as exemplified by the brutal invasion of the Soviet satellite, Czechoslovakia. Forty years later here we are again with Russian tanks rolling. You have to ask yourself: If the KGB was willing to instigate a nuclear war to further their ambitions, of what is the current KGB boss, Putin, capable?
Sunday, August 17, 2008
The Chinese and the Russians
The Chinese spent a mere $43 billion dollars to put a big happy face on their image at the Olympic games. Of course, there is something slightly obscene in spending that kind of money when many of your citizens live in abject poverty and the victims of the recent earthquake still suffer in the streets. (Editor's note: $15 billion was spent by Greece on the Athens Olympics in 2004, and thousands of Chinese people were moved out of their homes to make way for the new state-of-the art stadiums.) The opening ceremonies were nothing short of spectacular and specifically designed to not only impress, but to give us a warm fuzzy feeling about the Chicoms. No one could disagree… amazing.
Once the euphoria of the ceremony had worn off, some irritating realities began to emerge.
· The draconian smog abatement program had not worked, a fact made clear to the world as the TV pictures of the early road cycling events traversed the globe.
· It turns out the darling little girl sweetly singing the song at the Olympic ceremony (I think it was entitled, “Workers Rise Up and Beat the Shit Out of the Capitalist Pigs”) was not actually singing the song. The girl doing the singing had been deemed not cute enough by the Chinese image-makers, so while her voice carried to the World, the cute one lip-synced the words. A unique Olympic Milli Vanilli moment.
· We also learned that to assure that the fireworks display went off perfectly, the broadcast images had been “digitally enhanced”.
· Journalists discovered that the remote parks specifically set aside to allow protesters to voice their objections remained curiously devoid of protesters… or anyone for that matter. Chinese officials calmly admitted that one required a permit to protest in the parks and that, regrettably, no permits had been issued. Well, that was neatly handled.
· We learned that despite public announcements, all the seats for the events were not sold. The Chinese brought in warm bodies off the streets to fill those empty seats.
· The gymnasts were spectacular, especially the tiny Chinese girls who flipped, twisted and tumbled with extraordinary ease. We later learned that these young girls had shown promise at age three and had been spirited away from their families to spend their childhood in gymnastics training camps. Some questions were also raised about their age since by Olympic rules the girls must be 16 years of age to compete. All of the sprites had the physical development of my 9 year-old grand daughter, but the Chinese assured us that the government issued passports for the girls all confirmed their legal status. Right. Looking at the US team and the Chinese girls side by side…. Well, the US girls had breasts, hips and the look one would expect from a mid to late teen young woman. The Chinese girls looked like 9 or 10 year olds. I thought back to the bad old days of the Cold War when the Romanian and Bulgarian gymnastic teams gave drugs to their teen women to prevent the onset of puberty. Had the Chicoms taken Vince Lombardi’s dictum to heart? (“Winning isn’t the most important thing, it’s the ONLY thing.”)
While the world’s attention focused on the exploits of Mike Phelps and the “Redeem Team” and with President Bush in the stands as First Fan, Russia decided this would be an excellent time to invade Georgia. Bush in the early days of his administration had badly misjudged Putin, declaring that ‘I have looked into his heart and see a man that I can deal with…' or something like that). He should have looked into his eyes instead. Any businessman worth his salt would have gazed into those rattlesnake eyes and quickly concluded that they would trust this guy no further than they could throw a fully-loaded 737.
Candidate Obama, from his vacation headquarters in Hawaii, immediately called for the intervention of the UN. That should give anyone paying attention an indication of the depth of his foreign policy knowledge. The UN has been powerless and less than ineffective in stopping genocide or international crisis for decades. Think Rwanda, Darfur, the Sudan or the Iraqi Oil for Food scandal for that matter. He also missed that Russia holds a seat on the Security Council and an unconditional veto. The enemies of the US are licking their chops at the prospect of having this naive reincarnation of Jimmy Carter sitting in the White House.
Meanwhile, the Democrats in Congress continue to plug their heads in the sand ostrich-style and ignore the realities of the strategic importance of the oil crisis. The newly-aggressive Russians and the less than friendly countries of the Middle East have the US in an extremely vulnerable position. With 70% of the US’s oil needs coming from foreign sources, they hold a gun to the head of the North American economy. And despite the optimism of T. Boone and others that alternative energy sources and conservation (inflate those tires folks!) is the ultimate answer, that nirvana is unlikely to arrive for at least a decade. Not drilling for domestic oil and fast-tracking nuclear power plants represents the most dangerous form of economic brinksmanship.
Speaking of T. Boone... I suggested in a recent piece (“This an’ That”, August 6) that someone should look into the possible economic benefit ol’ T-bone might have from his expensive ad campaign touting wind farms and natural gas. Voila! On cue author and journalist Michelle Malkin did just that in a piece entitled “Nan and the Big Wind Boondoggle”, August 13). Turns out, Pickens is the founder and principal stockholder of a company called Clean Energy Fuels Corporation (stock symbol CLNE) that is heavily into natural gas. He also founded a company called Mesa Power that (surprise, surprise) builds wind farms. Mesa has invested some $12 billion in a wind farm development in the Texas Panhandle. T-bone admits that these wind farms cannot be economically viable without government subsidies, so it should stun no one that he enthusiastically supports a bill in California to provide $10 billion in state and federal funds for renewal energy resources. Think wind and natural gas.
If you’ve ever wondered how member of Congress can all retire as millionaires when they make a salary of $169,300, the IPO scam is the answer. It’s way better than taking the payoffs in cash and then hiding it in the freezer. In return for future favors Congressmen are invited to purchase blocks of companies about to go public and dump them right after the opening when the prices typically rise. Instant profit. Tom Foley of Washington, former Speaker of the House, over did this perk and it cost him his seat. Obviously, with a myopic press this quasi-legal method of lining the pockets of US politicians continues.
Don’t expect to see this cozy arrangement between T. Boone Pickens and Nancy Pelosi revealed anytime soon on the NBC Nightly News or the pages of the New York Times. Maybe the National Enquirer will get on the case. They were the only guys who picked up that John Edwards was screwing around on his cancer stricken wife and paying the mistress with campaign funds.
I guess I am just old fashioned in believing that responsible journalists would report the conflict of interest obvious in Pickens’s campaign and Pelosi’s clear involvement. Not likely. On the other hand, “USA Today” just layed off 3,000 people. Maybe, the public is catching on to the liberal bias in the mainstream media.