The "Greatest Show on Earth" did not disappoint on the first day of the new Month!!!
The day began, for me, taking a look at the current edition of Newsweek Magazine headling a Jonathan Alter er piece. Newsweek, of course, will go on under its new owner, Sidney Harman--who happens to be the husband of the California Congresswoman Jane Harman. Jonathan Alter talks It shows how Obama has been characterized as a terrorist-coddling, wall street loving, godless, Foreign-Born, Muslim--when in fact none of it is true. Between the Afghan Surge, drone attacks, rejecting nationalization of banks and pushing to get monies back from GM and Chrysler, the record is one of a comitted capitalist. What is now prevalent is a testanment to the power of the Right Wing Noise Machine having been as effective as it has been. I nearly fell off my Chair when Mitch McConnel noted that he took the President at his word that he was not a Muslim. This is not as bad as Rush noting that Imam Hussein Obama is here and now!!! Does Mitch McConnell live in the same America or is it a different America? I wonder.
As this nonsense over the President continues, there is of course the true realities. Although Mr. Obama declared the end of combat operations in Iraq, the fact remains that the United States will continue to be engaged there. The Republicans wanted the President to thank President Bush for the "victory" in Iraq. The fact remains that the War was wrong, the premise was wrong and the Country is worst off because of this ill-conceived war that cost over 800 Billion Dollars. Iraq is a broken, shattered country that is under the thumb of the major regional powers. Yet, in the fantasy world that is the Republican Party today, they want the World to believe otherwise that America won.
The same amen crowd that pushed the rightenousness of the Iraq War is also behind the Mosque hysteria. If one visits the Keep America Safe website, all they talk about is the Ground Zero Mosque. It is as if they have nothing else to talk about. Liz Cheney's crusade against the Mosque seems to have been her group's raison d'etre. That's fine because that is her right to exercise her right of free speech. But, her paranoia surprises me becuase she was part of the gang that was in charge of US Foreign Policy during the Bush Years. She claims to be an expert on the Middle East, yet seems to have no clue whatsoever and seems to want to portray Muslims as animals. The only word I could possibly find to explain her action is simply this: Racist. For someone who is a lawyer, it seems as if she has no clue about the Constitution, the Bill of Rights and the history of this great land. She apparently needs to re-read history. That seems to be out of fashion, though, in the fantasyland of The New Republican Party today.
The Greatest Show on Earth that is the US Election Season continues to be ever more surprising, though. Joe "Wacko" Miller seems to be the gift that keeps on giving. His pronoucements about the Feds simply pulling out of Alaska is perfectly understandable. But, it seems as if he has to explain to the people of Alaska how he intends to replace all the Federal Funds. What if some of us around the country would want all the monies we sent to Alaska to come back? How would Alaska propose to pay that back as Oil begins to run out? Other candidates also seem to be on this wacko trip that seems to be never ending--but it sure is fun to watch!!! There is also the issue of the repeal of "Obamacare". I have been trying to find out what Mr. Miller's solution is counter the actions of regional hospital chains like Sutter Health in Northern California that charge 3 times the normal rate for a normal procedure and even the mightly insurance companies can't say anything about it.
Back in California, Fiorina and Boxer had their debate. It was a contentious one because the race is one that is supposedly a toss-up right now. What I found quite ironic was how Fiornia criticized how her tenure at HP was brought out and used as a political football. Someone had to remind her that politics is a high-touch contact sport where nothing is off the table--with the exception of one's family. California is a Democratic-Majority State. The fact that the polling is fairly close is a reflection of the national mode right now. But, polls are polls. I will not be paying attention to polls--just the facts Fiorina's campaign, though, had already put out a Press Release on the Campaign and Boxer's was yet to do so. So, the publicilty machine has been in full gear and will continue to be so.
There is of course the case of the birthers. Terrence Lakin, an Army Officer, has refused his deployment orders on the grounds that President Obama is foreign-born. I hope the Army will nail him to the wall and Court Martial him. Furthermore, I hope that the Air Force will call back to Active Duty General McInerney, the retired Air Force General who has apparently filed papers in support of Colonel Lakin and court marshall him too. It is one thing to have buffons like Steve King use the hallowed halls of Congress to push their twisted agends. I am sure that the Army will do what needs to be done and I'll let the course of Justice run its' course.
The big elephant in the room is the Economy. I was gratified to see the broad gains in the market yesterday. Yet, the economy continues to remain fragile. The question is whether voters will embrace the current path or give the Republicans another shot. I continue to believe that the election will be a lot closer than handicappers like Charlie Cook and others are calling it. It will be fascinating, though.
Joe Miller has secured the Republican Nomination for the US Senate from Alaska. I have just see the live coverage from Alaska.
What this shows is how the Tea Party has truly taken over the Republican Party. Mr. Miller, now, has to be ready to answer for his so-called "solutions". He has to explain what he means by going back to the founders. Does this mean that the Constitution has to be torn apart and we go back to the Articles of Confederation? Does he think that Alaska will survive without Federal Funds? Does he want to turn Alaska into another Louisana?
He is the Republican Nominee and he owes it in large measure to the Mama Grizzly of 'em all--Sarah Palin. The question, now, is whether he can win. The Democrats need to nail him to the wall on his wacko ideas so that the people of Alaska understand that although he appeals to a narrow strand of the new Republican Party, he is as far out of the mainstream as it comes--not withstanding whatever he and his supporters might think.
It should be a fun campaign to write about. He is to be congratulated on his win. The real campaign begins tomorrow.
I caught a glimpse of a news conference by the Heritage Foundation's Michael Franc. He is the Government Relations VP for the Foundation. I am well aware of some of the support the Heritage Foundation receives. However, I have been of the view of that any idea that would help provide a roadmap is absolutely crucial to be looked at. I would be analyzing the report annouced by Heritage and providing guidance on it as part of OV's Election Watch Series over the ensuing weeks.
I welcome the Heritage Report because it is how things should be. There was one thing that Michael Franc also noted that I also agree with: incremental change is simply not acceptable. There needs to be the courage to truly work to transform for the greater good
The U.S. Economy continues to limp along. The Obama Adminstration has been pushing the "Happy Talk" of an Economy Recovery when the reality on the ground has been quite different.
I was monitoring the markets on Friday and they were clearly spooked by the Jobs Data. The economy lost 131,000 jobs during July. The Retail figures were anemic at best. The GOP reminded the country about a simple question: "Where are the jobs
This past week has been amazing. According to the pundits, the election is already over and we should all just pack up and go home. John Boehner, I suppose, is probably beginning to gear up to take over the speakership and all the key "ranking members" of the house are getting ready to be called "Mr. Chairman". But, here is a newsflash, though: This is July 21. Elections are not going to be held till November. So, to borrow a phrase from Mark Twain, the reports of the death of Democrats is highly exaggerated
The Republicans are truly emboldened. Eric Cantor came out last week and boldly predicted that the House will be taken over by the Republicans. Monday’s Front Page story in the Wall Street Journal talked about how the GOP can also take control of the Senate too. A number of the US Senate campaigns are rough going. Barack Obama’s old seat is one. But, it appears that Charlie Crist in Florida has gotten his second wind and seems to be charting a new path after the Marco Rubio juggernaut forced him out of the Party. The President’s Spokesman, Robert Gibbs, added fuel to the fire during his appearance on Meet the Press two weeks ago when he noted that there is a chance that the Democrats will lose. I viewed Robert Gibbs pronouncement as a wakeup call to all Democrats to pull together. I am with Joe Biden that Democrats will surprise the Country in November
Oil continues gushing out with no apparent end in sight. Supposedly, the relief wells may be able to stop it. But, there is no guarantee because the story in the New York TImes a few days ago talked about further back up plans. There is a big ship that has arrived to begin the process of "recycling the water". There is, of course, what Kevin Costner's company is also doing that I reported on earlier. Everything is being tried.
I wrote about the Jones Act and the prohibition against having foreign ships. I was apparently mistaken in my interperation of the Jones Act. The prohibition and subsequent need for a Congressional Waiver is only within the US 3-Mile Territorial Limit. The Deepwater Drill is located 52 miles off the coast and some 24 countries are involved trying to help contain this. As such, this notion of help being refused is somehow not quite accurate. What continues to be unfortunate is the continued reliance on BP which has yet to result in any meaningful action
In the midst of all that I focus on here and in OV's sister sites, I can't help but report on something that really is shameful and beyond words. This "WTF" moment really blew me away!!!!
According to a report I just saw, Dana Soderberg has filed suit against his Dad for reneging on a promise to pay 47,000 for her graduate school tuition. Although the Dad may have set the wrong expectations, what really sickened me is how the U.S. Legal System is used in as twisted a way as it is
Someone once told me that being an optimist is a gift, but one has to be a realist too. That realism is born out of the fact that one has to understand what is going on "out there" and be able to somehow bring it to bear here. This is ever more so now as we are faced with an economy that continues to be tough as nails. Hope and optimism has to sustain us. There is no other way. The realities on the ground, though, continues to be ever more scary.
By now, the fact that the U.S. Senate did not pass Unemployment Insurance Extension is well known. Some 1 Million People will lose their benefits today. In my visits to the Local California One Stop Center, I have overheard folks repeatedly asking about extensions and assessing their status. I dread the day to see the face of those who had counted on this and will no longer be able to do so. There are some who say that this unemployment stipend helps to perpetuate a cycle of unemployment and dependency. I can understand that if the jobs were out there. But unfortunately they are not. I suppose that the fact that those who had depended on this stipend will go hungry and homeless is not as important as being fiscally responsible
Reading the tea leaves today did not give me much hope. Joe Biden, the U.S. Vice President, noted the fact that 8 million jobs lost during the Great Recession would not be coming back. The June preliminary numbers point to a 115,000 job loss.
I have repeatedly written about what is going on in "Main Street". Some say that one person's recession is another man's opportunity. That's all well and good if one has been out of a job for a year or more. Even the "rich" are being frugal. For instance, the Big Orange Index in Orange County, California is pointing to an uptick in spending. The problem is that people are more frugal and will continue to be so
As I begin the third year of "Outsiders" I will be relaunching the Economy Watch Series because of the continued calamity being faced in the United States. I view the possiblity of a double-dip recession to be ever more present as the signals I assess are not good at all.
The number of new home sales dropped 3.3 percent. Retail Sales were disappointing. The number of first time unemployment filings went down, slightly. But, one has to only see the job postings at the local unemployment office to realize that there is not much going on. In visiting the local One Stop Center, I see a continued stream of folks going in to assess what is at hand. There is a waiting list to use the system resources. Career Counselors have an increasingly larger case load as the budget is cut. That's the reality on the ground
When the May unemployment numbers was announced on Friday, I initially jumped with joy when I heard the figure of around 450,000. But, then, my initial enthusiasm turned to disappointment when I saw that 411,000 of them were temporary Census Workers. Furthermore, I saw downward revisions of the Job Numbers which caused further concerns and caused the Dow Jones to drop.
There are some realities that has to be noted. The Fed is pretty much tapped out. It is beginning to gradually wind down its' purchases of mortgage securities. Consumer spending will tapper off and the level of Government debt is so high that future action by Governments to jump start another recession is going to be a major challenge. One of the statistics that really bothered me was the report by the IMF noting that the U.S. structural deficit will be 6% of the GDP. Despite a trillion dollars of stimulus being spent, the U.S. economy is yet to be on the sound footing necessary to sustain a long-term sustained growth that will bring the jobs back. Jobs continue to be lost. I also question the viability of Europe's 1 Trillion Dollar "rescue" package. The Greek Debt, The French Debt, the Spanish debt and the British debt are part of the problem and sovereign debt ratings continue to be downgraded. The Euro just dropped below US $ 1.20. That's why all Governments are now talking austerity. Although I welcome the committment by Governments to tackle deficits, the question yet to be answered is whether If the faucet of support is shut off, what will happen next
The whole world and I have been witness to the unfolding tragedy in the Gulf of Mexico. I have been watching in horror the live feed that BP has going on through their website. I have released a link here in this "write-up". The stupidity and foolish moves being made are frankly mind-boggling. The documents coming out show how idiotic all moves have been. Everyone is responsible. Although it is increasingly looking like Obama's Katrina--not withstanding the political spin the President and the Adminstration are trying to push. Blaming Bush-Era policies is not enough anymore. The Obama Adminstration has been in office for 18 months.
I have had a chance to take a look at coverage and the lowering of expectations on whether this so-called "top-kill" process is gong to work or not. Tony Hayward, BP's CEO, says that there is a 60 to 70 percent chance that this might work. If this does not work, what other alternatives are there? Relief Wells are being done, right now. Beyond that, who knows what else they are trying. In the meantime, oil continues to gush out. As for BP's spin on it, they say they are trying. But, the record I have seen proves otherwise
Rand Paul cancelled out his appearance on Meet the Press. He blamed the liberal media for all that he has gone through and reports say that he would only be giving interviews to Kentucky Newspapers.
As I wrote before, what I find appalling is that he chickened out and back tracked over matters. His principles are fine. Yet, what he and the rest of the Tea Party crowd need to really come to grips with is what exactly do they oppose. Do they oppose the minimum wage
By now, America and the whole world has probably heard of Rand Paul. Hel is the son of Ron Paul, the Texas Republican Congressman and Presidential Candidate who is credited with the beginnings of the so-called Tea Party Movement. I congratulate him for beating back the establishment candidate in Kentucky. I especially liked how he embarrased Mitch McConnell.
As he is positioning himself as the man to "take back Washington", he is starting to be far outside the mainstream. First of, he spoke out against the Civil Rights Act. Then, he said he would vote for it. His Rationale, as I understood it, was the constant continued overreach by the Federal Government. It seems to me that he had basically overlooked the history of the United States and it is quite unfortunate. As he sought to back away from this stance, he outdid himself. He noted that President Obama's criticism of BP was "Un American" and against business
In a few hours, Arkansas, Pennyslvania & Kentucky are going to the polls to choose party nominees for the US Senate. In each state, there are insurgent party candidates taking on the party establishment. The outcome, right now, is anyone's guess.
Of the three races, the one I am particuarly interested about is the one in Kentucky. The Tea Party favorite, Rand Paul, apparently has a leg up to beat the Mitch McConnell-endorsed candidate. The Republican establishment seems to be on the hot seat by this insurgent movement. They seem to be on a roll. But, the day after will be interesting to say the least
The past number of days has seen our Earth express its' rage yet again. The volcano in Iceland has wrecked havoc on the world. As I write on this, there are airports throughout Europe that have either closed or are on restricted operations. It was bad enough that caused President Obama to cancel his trip to Poland to attend the Polish President's funeral. There is of course the earthquakes that continue to occur in the so-called ring of fire and continued changes in the Earth that I have written throughout my daily "Write-Ups" here.
IATA, the World Aviation Body, is estimating the damage to the World Airlines to be around 200 Million Dollars a day. The large term impact is yet to be determined. What Mother Earth is doing now should truly put things in perspective as to how fragile life is and how the superficial seems to dominate the debate. When I just read the reports of the deaths in Pakistan, I thought about how stupid the loss of life truly is. It seems to me that we ought to embrace and celebrate life. We have to preserve this life and appreciate all the blessings. Such appreciation truly comes home when that is taken away. I have to question the wisdom of it all
As the Election Season kicks into high gear, one of the more fascinating races is the one in Florida. I caught the Rubio-Crist act on Fox News. They are vying to run for the seat that Mel Martinez abruptly resigned. The debate was lively and interesting to say the least.
Marco Rubio is the former Speaker of the Florida State House. He is running as the Conservative Candidate and is a favorite of the Tea Party Crowd. He does not like the stimulus and thinks that everything has to be solved locally. There is going to be a Republican Bloodbath and the Democrat Kendrick Meek might just get in
This past week was exciting and scary on the political scene. It all culminated with the passage of the Healthcare Legislation. The Obama Adminstration should right now feel pretty good about what they have been able to achieve so far.
It all began with Healthcare. The legislation passed . I was in awe as I saw Democracy in Action. The debate was vibrant and frankly hillarious at times. The Republicans committed to run on a slogan to "repeal and replace.' What I found especially ironic was a clip on This Past Sunday's Meet the Press from then-Minority Leader Gerald Ford
The Republicans in the Congress are on a rampage. They are on a roll to derail any semblance of bi-partisanship there is left. The US Senate is right now in Session voting on the Republican Amendmentathon to the Reconciliation Bill. It is past 1 AM local time in Washington. Senator Grassley has introduced an amendment which Senator Baucus is objecting to. Now Senator Bennett of Utah is introducing an amendment about allowing District of Columbia to vote on the right to have same sex couples marry. I have to wonder what that has got to do with reconcliation. The Republicans are forcing votes on every single amendment and the Democrats are voting it down. I am loving it because It is Democracy in Action. When will the Republicans realize how foolish they are, though?
Throughout the day, I was periodically monitoring US Senate Proceedings. The Republicans objected to everything--and I mean everything!!! They are trying to exert revenge, of course. This "revenge" is taking on an ugly tone as the more radical folks have threatened member families. I continue to be sickened to my stomach by what has transpired. Being angry and frustruated is one thing. But, threats and lies are a different thing. Whomever threatens is a coward. I said it earlier and I say it again. If you're mad, exert the revenge at the ballot box. And for those who wish to explain it away, they are as much a coward as the person actually making the call. This includes the Minority Leader of the U.S. House of Representatives, the Honorable John Boehner of Ohio
I begin the first Spring "Write-Up" here in Outsiders with a sense of optimism and hope. I believe that our challenges pale in comparison to the possiblities. I am reminded of Mr. Spock's admonition when he noted that, "...In Life, there are always possiblities". It is striving for those possibilities that drives me to further develop and reflect upon our world. We can ovecome differences, work to develop a sense of civil discourse that would help to serve us all. We have to remember that and embrace it.
I have titled this first write-up of Spring as "The Greatest Show on Earth". I am with Tom Friedman of the New York Times when he called it so during a recent appearance on Meet the Press. It is so because there is so much to talk about and reflect upon. As I continue to be hopeful, I continue to worry about the discourse that divides America today. I marveled when I saw the debate in the House. There are those who will say that the majority made an end-run around Democracy. Although I will be talking about what some refer to as "obamacare" after the President signs the bill later on today, the debate was vibrant and exciting. Unfortunately it had its ugly moments. The insults against Rep. Stupack and Rep. Frank were just not right. Beyond those ugly incidents, it was quite a show. It was Democracy in Action in a major way. It is frankly a day to be celebrated in America
I admit I have had my doubts whether Healthcare Reform in the United States will see the light of day. However, it seems increasingly likely that the current healthcare reform will be passed and signed into law. I have to truly wonder whether I am not too optimstic in my assessment, though.
My optimism is based on the reports coming through. One of the key switches was Dennis Kuccinich. There are a few wayward folks who are still being pushed by the White House to switch sides. The opponents are at it, though. I happened to catch a glimpse of CNN and saw the Insurance Industry mouthpiece air the ads to underscore Karen Iganci's talking point on CBS' Face the Nation on Sunday about the Insurance Industry being 4% of the aggregate cost. What she failed to mention was that they drop you if you have a pre-existing condition. They can recsicnd the insurance and there is a lifetime and a annual cap. All of these will go away within six months after the bill is passed. The insurance industry is afraid--as they should be
I have been following the Republican talking points throughout the week. The basic contention by the Republicans was outlined by Senator Brown in the Republican Weekly Address on Saturday:
The White House Healthcare Summit took place. C-Span had gavel-to-gavel coverage. For those around the world who are not aware of C-Span, it is the public affairs programming that is provided as a public service by America's Cable Companies. It is devoid of political commentary, although it features reporters and political actors during its roundtables. But it is the best way to see Democracy in Action:
The Healthcare Summit that the President has called for is about to happen in a few hours. The Republicans have been gearing up for it with a sophisticated media blitz that has been brilliant. I wrote about it earlier in a write-up.
As I was assessing the state of the debate, my reaction to this was simply: wow
I have continued to observe how the GOP has literally stolen the limelight on the debate over healthcare. The Democrats have a steep mountain to climb because of this:
“Democrats have decided to give the voters what they don't want anyway”
I was pleased to see the reports that the Economy is on the mend. The President talked about it during the State of the Union. I especially was jazzed about the 5.7% growth of GDP during the 4th Quarter of 2009. Jobs, though, continue to be lost--albeit at a slower pace. But, if anyone thinks we're out of the woods--I have a bridge in Alaska that I really want to suggest that they go out and check out. The point is that this growth is not translating into much.
President Obama hit the road noting that there is a lot yet to be done. He noted that 1 in 10 Americans can't find work. The President needs to be reminded that the actual number is almost 1 in 17. In California, it is almost 1 in 20. I think the President was brilliant in how he went on the offense with the Republicans during their Policy retreat on Friday
I followed the President's walk-about yesterday when he went out to Florida to speak and "test out" the talking points of the SOTUS (State of the Union). As I noted in my daily write-up yesterday, I found the speech to be a centrist speech which I think the Republicans should embrace in a big way. I find it interesting that they have continued to basically "Just Say No".
I find the President's visit to the Republican Retreat quite intriguing. I welcome it because it shows that the Adminstration wants to reach out yet again. This has been a one-way street, though. Maybe the monthly meetings the President also proposed will help to bridge the apparent Grand Canyon that continues to exist. Governing is not easy. Governing is hard. Governing means choices. All who occupy the seats of power in Washington need to really understand that. Those on Main Street must remember to keep those people accountable. This accountability seems to have withered away. I find that quite disconcerting
The State of the Union is before us. President Obama has a challenge before him to recharge his Adminstration after a rather trying year. I have written quite a bit about the challenges and how I think that there is still life left in the Obama Adminstration. Not withstanding the short term setbacks, the road ahead will be rough at times. But, no one should count out the President just yet and the Adminstration.
Now, what I am worried about is the story about the proposed spending freeze. The President is due to announce a spending freeze on all discretionary spending starting in 2011. Defense, homeland security, veteran spending and foreign aid is to be exempt. This means that we would continue to spend 720 Million a Day in war spending in the two wars. I wonder if this is a move to the center. But, the Republicans will probably balk at this idea too. Republicans have basically stymmied every major Obama initiative to date in a blatant power grab. It seems to me that the Country should preempt any short-term political gains. I wonder if the Republicans understand that
Well, today was the day after Scott Brown's victory. I think he is to be congratulated for running a very slick campaign. As I noted in my write-up , I think that he tapped into a profound sense of frustruation the people feel about the direction and the on-going anxiety the country feels. I reflect upon those very feelings constantly in my daily write-ups here in "Outsiders".
The Republicans have been having a field day, though. I saw John McCain taking the floor declaring healthcare "dead". I saw Mitch McConnel telling the Senate how the American People don't want Government-Run healthcare. I saw an email from John McCain demanding Scott Brown to be "seated immediately". Harry Reid said that he is willing to insure Scott Brown is seated as soon as the State files the necessary I also caught Sarah Palin's latest act on Fox News telling the Fox devotees how unimpressed she was with Barack Obama. It was amusing to see this as it was also amusing to see Keith Olberman's onslaught on Scott Brown. I think that Mr. Olbeman was a bit over the top when he ridiculed people for calling what happened an earthquake. I called it an earthquake and I stand by it. The question continues to remain what lessons will the Adminstration learn from it. What I see happened is what Bob Menedez, the head of the DSCC noted in his email blast when he said that, "...We must be aggressive in defining our opponents and framing the choice voters face. We cannot be timid about staking out our ground, and we must be strong in reminding voters what the Republicans did to our country and what they will do again if given the chance....". The Democrats have to begin to do that to present the choices. It begins with healthcare in a major way. Whatever Scott Brown did to support himself while in College is his business. Whatever he said prior to his election as a U.S. Senator is also in the past. The question is what is he going to do now
This week saw me continue my quest to see what is out there and what is within the realm of the possible for jobs right now. I had an appointment to review my existing resume. I thought I had it down--oh was I soooooooooooo wrong!!!
What I had done, though, was to present my resume to one of those online resume services. This was a free critique available through Job.Com. What the Counselor Sent me gave me a preview of what to do expect. She wanted to charge me $ 595 to redo the resume and was going to throw in the cover letter for free. With the budget being what is it, I ignored her sales pitch and thought about the essentials of her message. I did make a point of arriving 15 minutes early. This was to get myself into the "groove' of being really disciplined enough for this exercise
The World right now continues to be focused on Haiti. The focus is so right in light of the utter devastation going on. The desparation is evident and the scenes are heart breaking. I cannot even comprehend what Kerry Sanders, the NBC News Correpodent is reporting right now:
A very good friend turned me on to the National Priorities Project Website. With the Continued challenges we face in America, I was fascinated by what they had done. There is a cool feature that actualy analyzes what could have been done if the monies spent would have somehow been routed towards long-term sustainable development. I realize that some will question the analysis and the rationale. But the implications are staggering:
The U.S. Economy grew in the third quarter. Housing Sales were at its highest in four years, according to the National Association of Realtors. When I have been talking to Realtors, I have sensed a movement towards folks actually buying real estate again. But, the problem is that most of the growth has been driven by the massive stimulus put in place by the Obama Adminstration. No one is hiring. No one is investing. That's the biggest problem I see happening right now that will linger on for a while yet.
The growth that is being seen is anemic at best. 30 out of the 50 States will run out of money to pay out unemployment benefits. So, the people who have no job and have lost all hope will not have much to look forward to in 2010. The shortfalls in State and local budgets will continue to be ever more. For instance, the Orange County California Sheriff Department in Orange County California 's expected shortfall for 2010 is slated to be apprxoimately 45 Million Dollars out of a budget of $ 450 Million. This means longer response time to 911 calls and prisoner releases. Although the Country is focused on healthcare and the reform battle in Washington (and rightly so), the fundemental structural definicies in the Country has to be addressed--and it is not being done
The news headlines yesterday were dominated with the 60th Vote that the U.S. Senate Democratic Leadership secured when Ben Nelson was brought on board. I am sure that there was a lot of horse trading going on til the last minute. Bernie Sanders apparently got more money for community clinics. Ben Nelson got more Medicaid Money for his state plus the assurance he needed on abortion. I do wonder what Joe Lieberman got for his vote after all the "noise" he generated. What I find fascinating is how such horsetrading is part of the legislative process and it is understandable.
What I find interesting is that both the so-called left and right spoke out against the bill. The most vocal opponent was Dr. Howard Dean, the former Governor of Vermont and the Chair of the Democratic National Committee. The Republicans took that as gospel. As for the Republicans, well they are going to pull out all the stops to head off the vote til Christmas Eve. The fact remains that this is just one more step in a rather long process. Although I am sure that Senators wish to spend Christmas with their families, the people's business comes first. Furthermore, it can still be derailed at the last minute
Afghanistan has just come out with an annoucement that it will work to increase the military force to 240,000 troops. There is an estimate that each Afghan Army Troop will cost about 12,000 dollars, yet each American Troop will cost around 1,000,000 Dollars. Now, with all such staggering figure, the question that has to be asked is this: What has happened to all the money that has been sent to Afghanistan? Why is the country in such dire straits?
When Karzai took the oath, he promised action. He wants to reconcile with the Taliban. He also has promised to fight corruption. But, the reality on Main Street is different. Talk is cheap. Despite the apparent embrace by the international community, the question has to be asked: Where has Karzai been for the past 7 years? Why did he not make sure that The Taliban did not rear their ugly head? How can he emerge from his reputation as the "Deputy Mayor of Kabul" and really start to assert his authority? How can the cancer of corruption be eradicated from a society that knows no other way to do business? How can the people be given hope when they continue to be in the front lines and suffer the casualties
Tuesday November 3 was another election day in America. It was an election day to decide some governorships, a key mayoral election and very intersting race in the New York 23rd Congressional District. All the pundits have been pounding the pavements about how this was a referendum on President Obama and how the people have begun to speak up and be frustruated about the direction of the country. The Tea Party folks, the 9/12 Movement, Freedom Works and the Republicans are all celebrating tonight.
Well, it has been a good night for the Republican Party. They won two key Governorships. They have won other key statewide offices in Virginia. Yet, the national implications of these races is way overstated. The mainstream media (and yes that includes Fox) will be hard at work spinning this as a major setback for the White House. The reality is otherwise, though
The Dow lost 249 points on Friday. This was so because of a number of continued challenges the economy continues to face. The stimulus plan provided a shot in the arm, but the jobs are simply not there. As I wrote in OV's sister site, Kitten Politics, the world is not out of the woods by any means.
I always look to the Economist's KAL to see what he thinks about things. This says it all
I remember the day when Joe Lieberman was chosen as Al Gore as his running mate in 2000. At the time, the country was told that this was a man who was principled, grounded and understood what was right. The country was told that he was a man who never forgot the common man and his common roots. What happened to someone who almost became Vice President of the United States and who could have been President today?
The transformation of Joe Lieberman has been nothing but spectacular. For a man who was a soldier in the Democractic Party, he became one of the soldiers in John McCain's failed bid to be President. I was shocked to see how he turned away from the principles he stood for so long. To me, his total transformation became evident over the last twenty four hours when he said that he would support a threatened Republican fillibuster over healthcare reform. What I found shocking was his arrogant comments on Fox News when he started smiling as he explained his position to serve his constituents. I wonder who the constituents are that he is talking about. It seems as if the national interest should overcome whatever so-called constituent interest He forgot that there are 300,000 Million Americans that need to be served. Yet, it appears that Aetna and Cigna are his constitutents--not the American People. That's the biggest tragedy of all and underscores the tragic figure that Joe Lieberman has become. I can only feel sorry for him.
Joe LIeberman is the junior Senator from Conneticuit. He has increasingly moved to the right ever since he got a black eye from his State's Democratic Party during his last primary election. Yet, he continues to caucus with the Democrats and supposedly supports the Democrats on Major Policy Issues. But, the developments today has truly brought into question his wisdom and outlook on things.
Politico is reporting that he will support a Republican Fillibuster to kill the bill Harry Reid has come up with. The comment I saw attributed to him was, "....It is asking for trouble...". What he fails to understand is that the country is already in trouble. What I find especially troubling is how this continued disconnect I wrote about in my write-up yesterday continues to be proven day after day. A distrust of Government is healthy and understandable. It is as old as the beginning of the American Republic. But, what Mr. Lieberman, Ms. Landreaux and Mr. Nelson don't get is that Main Street is suffering. Doesn't Main Street deserve a little more
Well, it appears that the broadside launched by the so-called Insurance Industry did not sway the U.S. Senate Finance Committee. The Committee voted the bill out of Committee. For those who understand the legislative process, this means the first of many, many, many,many hurdles that still has to be overcome. Olympia Snowe, the Maine Senator, voted with the Democrats. She's a dying breed of Republicans that the New Republican Party likes to call, RINO's (Republican In Name Only).
What is clear to me is that the battle is not over by any means. The Republicans will fight this tooth and nail. They will be hand in hand with their friends in the so-called Insurance Industry to insure that this will not go through. A good friend noted that referring to the Insurance Industry is doing them a great service. An Industry is supposed to produce something. From where I sit, they don't produce anything. They say they manage risk. But they manage risk at the expense of those who are denied coverage for the sake of profit. They already ration healthcare and deny choice. Their greed is simply unacceptable
The Healthcare Reform debate took an ugly turn today. The Insurance Industry's lobby, AHIP, succeeded in derailing the reform movement, yet again thru a report it came out noting that reform will do nothing to slow down the cost of healthcare and that premiums will go up. From what I have seen of the folks who actually did the analysis, they have no expertise in healthcare. The rationale used by the AHIP Press Secretary to justify their view of "universal coverage" was quite amazing.
The insurance industry wants everyone to be covered. But, the AHIP's report wants everyone to buy their products that has pretty much driven the US economy to the ground. When I see my sister's hospital bill at 12,000 Dollars for a single overnight stay (and Insurance will not cover it) I see a problem. When I see my mother's surgery and how costly the surgery has been, there has to be a better way. The major players (United Healthcare, Wellpoint, Blue Cross/Blue Shield, Aetna, CIGNA) just want things the way they are. These major players have already instituted rationing. They are just interested in one thing: Profits
Honduras continues to be in a state of political turmoil. The ousted President, Zelaya, is held up in the Brazilian Embassy as the Coup Government continues to cling on to power in the midst of opposition from the population and the world. Now, Senator "Waterloo" DeMint wants to go to Honduras on a "fact finding" mission. But, Senator DeMint's trip was blocked by John Kerry and the State Department. Senator DeMint cried foul and issued this statement posted on his Senate website:
The U.S. Senate Finance Committee left out the Public Option in their markup. As I assessed the debate over the past 24 hours, I can't help but declare the insurance companies the winners and the American People the loser in what the U.S. Senate has done.
Not withstanding Chuck Grassley being "mad" at the President, it seems as if the country should be mad at him for pushing the fiction of death panels and citing sources like the Heritage Foundation and that outfit that is owned by an entity owned by UnitedHealth Care. The Republicans are winning the day hands down right now. What happened in the Finance Committee was just one battle that was lost. The war is not lost yet by any means
Every 2 years, a third of the U.S. Senate seats is up for re-election. As I wrote in OV's sister site, Smooth Political, there is a school of thought noting that incumbents are pretty much a shoe-in for re-election unless some real calamity occur which will derail the efforts at hand. One of the key races is in California. Barbara Boxer is up for re-election. But, the Republicans are not standing still.
Currently, the Republicans are quite busy. Chuck Devore is a California State Assemblyman from Orange County California who has mounted a concerted campaign to be the Conservative alternative to the so-called liberal Barbara Boxer. There is also an active, vibrant campaign by Carly Fiornia, the former CEO of HP and a adrent advocate of John McCain to run for office. As I see the campaign right now, Boxer should be able to overcome either one of these folks. However, Boxer should not take this campaign for granted by any stretch of the imagination. Senator Boxer will not be a pushover either
The Healthcare debate continues to be the talk of the town in the United States. The Republicans have continued their frontal assault on the concept of reform. There are currently 564 amendments to the bill being marked up in the U.S. Senate Finance Committee.
The Republicans are saying that there is no rush. Well, there is a Harvard Study published at the American Journal of Public Health says that 45,000 people die because they have no health insurance. This statistic is mind boggling because it is ten times the number of the fallen in Iraq. So, there can be a true argument made that there is a war going on. Yet, it seems that the Republicans want to go "slow". I continue to wonder what other argument will be used to try and avoid the train wreck that is coming. Do the Republicans understand what is going on? What about the Democrats
Senator Chris Dodd is fighting for his political life. I have had this apparent to me ever since he decided to launch his Presidential Bid and even moved his family to Iowa. It was probably the biggest political mistake he ever made. Now, his enemies are smelling blood. He has got Democratic opponents. But my eyes nearly popped out when Linda McMahon announced her candidacy for the Republican Nomination in 2010.
Who is Linda McMahon? She is the husband of Vince McMahon, the supremo of Wrestling. Their family has dominated Wrestling for almost 30 years. She can claim quite a mantle as a businesswoman. But, to be a Senator, there has to be a lot more than simply being involved in Entertainment. It sure will be entertaining to watch
Congressman Joe Wilson is a South Carolina Republican who gained prominence this week. He gained prominence by yelling out "you lie" during President Obama's speech on healthcare during the week. This is funny, yet sad in many respects. It is funny because the media has been fixed on it for the past number of weeks. It is sad because the level of poltiical discourse has sunk to a new low. Joe Wilson is but an extreme example of this deteroiation of common courtesy. At least his opponent has a fighting chance to bring some sense of deceny back to Washington.
I wonder what the big deal is about an apology. It seems to me that it will show his gracious nature. The President came out and clearly accepted his first apology. It seems to me that he ought to take up Congressman Clabyborn's directive and make it happen. But, he has to cater to that 10% of the Sarah Palin wing of the Republican Party. Although a distraction, it shows the utter chaos reigning in the Republican Party today
Senator Edward Kennedy passed away early on Wednesday after a year long battle with brain cancer. The whole world has been writing and remembering a man who served America and the world for 47 years and was instrumental in making America and the world to be a better place. I was amazed by what he was able to do despite all the challenges that he faced in his personal and professional life.
Keith Olberman of MSNBC noted that over 180,000,000 Americans never knew a United States Senate without Senator Edward Kennedy. I was one of those Americans. I marveled at his compassion, his ability to reach across the aisle and be universally loved. I was one of those Americans who was an admirer as he saw off his nieces and nephews to be married, faced down and valiantly supported his children as they fought their cancers and overcame adversity. I remember him when he was one of the lone voices of courage in opposition to a war in Iraq. I remember him when he told off Donald Rumsfeld for the utter incomptenence of the in Iraq. He also understood the need to reform healthcare and did manage to advance the cause in a major way despite his illness
It has been another interesting few days, to say the least. The most uplifting event, for me, was the interview this smart, articulate and self-confident 11-Year Old had with Mr. Obama:
I have been virtually attending some of the townhalls members of Congress have been having after the coverage I have seen to assess what is in fact going on. I found it especially interesting how everyone at the Arlen Specter meeting stood up and emphasized the fact that they were "ordinary" Americans and did not represent anyone. Yet, they quoted chapter and verse (and page#) on each portion of the healthcare bill. Beyond that, what I found amazing was the patience shown by the members of Congress. There needs to be a sense of mutual respect that must be honored. Even Sarah Palin ackowledged it in her facebook page.
What I find especially bothersome is that in the midst of all the news and misinformation, the essential need to reform healthcare is being lost. The country is on a path it cannnot afford. Tim Phillips of Americans for Prosperity said that guys like Paul Ryan have a plan. I think that is something that has to be looked at. As I have said before in my daily write-ups, for a country that has sent a man to the moon, there sure can be a way to figure this out. This is the true American Way. Those who shout down seem to forget that. The politicans, though, are in the middle of it all and are taking the brunt. I guess someone has to take the heat for it
What a way to start the Month!!! Bill Clinton has arrived in North Korea to help negotiate the release of the two American Journalists being held there. Wow
The talk of the town over the last week or so has been on Healthcare. President Obama's Wednesday News Conference was all healthcare. The debate with the talking heads has been on healthcare. Democrats have profound differences within each other. In the midst of it all, the ordinary folks seem to be just lost in the shuffle.
Everyone notes that there is no need to "rush" this. What is apparent is that the Republicans are pursuing a strategy of "just say no". I have trying to find a plan that the Republicans have. The only thing I have read is "choice" and "competition". It is those two things that has caused premiums to go up, insurance companies to continue to deny coverage and costs to go up. Not withstanding the debate itself, the only problem I have with "rushing this" as Mr. Bohener and Mr. McConnell have said is that the United States has discussed this for the past one hundred years. Teddy Roosevelt first talked about it back in 1912. How much more time is needed?
The Ensigns & The Hamptons in Happier Times (Source: Inside Edition)
The details of U.S. Senator John Ensign's affair is coming out bit and bit. Doug Hampton, his former staffer, was on Las Vegas 1 going through a timeline of all that happened. As I caught glimpses of it, I just fell sick to my stomach: Really Long Link
Roland Burris has just come out annoucning that he will not seek reelection to the US Senate Seat that he was appointed to. This should be good news to the Democrats who can insure that they have a fighting chance now. The Republicans were thinking about mounting a challenge. Now, it will be quite a fight. There are some really good candidates out there now.
It will be interesting to see that fight!!!
The Minnesota Supreme Court has declared Al Franken the winner of the disputed US Senate Primary. Mr. Coleman has talked about a Federal Challenge. The law certainly grants him that right. But, so far Mr Coleman has lost every single challenge. As I write this, Mr. Coleman is having a news conference to congratulate Mr. Franken. It will be interesting to see what the conspiracy theorists will have to say now. The people of Minnesota will have their full representation now.
John Ensign, one of the most Senior Republicans in The U.S. Senate, is about to hold a news conference admitting to an extra-martial affair. Although it is a trying time for him and his family, it does also show a bit of hypocracy by those who preach so-called conservative values and yet forget the very essence of committment. Leaders should walk the talk. Anything else is a disservice to those who have placed their faith in such leaders.
The last few days has been breathtaking. First of, you have the drama in Nevada about the continued apparent troubles Harry Reid is facing. Moving on to Illinois, there is the matter of the FBI tapes being released that makes Roland Burris look like a fool. Then there is Pennysylvania. Joe Sestak, the retired three star Admiral who is now an Admiral, is telling his supporters that he would challenge Arlene Specter in the Democratic Primary. I also continue to see reports of Chris Dodd being in trouble in Conneticut.
These events in and of itself may or may not be troubling. Republicans can mount a reasonable challenge in at least a few of the states. But, the problem is that the Republicans don't seem to want to get their act together either. The party has its doubts about Charlie Crist in Florida due to the challenge from Rubio. Beyond that, there is also the seat of the retiring Republican Senators that the party has to defend. This is exactly why Politics is so exciting and interesting
Middle East and South Asia is always full of surprises. Monday saw the freeing of Roxana Saberi. It was an ordeal for her family. But, more importantly, it removed a potential obstacle. What is clear is that mutual suspicions do remain. Press Freedom in Iran continues to be under threat daily. The father of Iranian Bloggin, Hussien Derakhshan, continues to remain in detention. I also saw a report that another Iranian-American is in detention in Iran as well. So, although Roxana Saberi's case is closed, the pressure on the Iranian Judiciary should not seize.
Moving on to Afghanistan, the news over the firing of General David McKiernan continues to sink in. Secretary Gates was in Afghanistan a week ago. The decision does end General McKiernan's career. But, from what I have read of him, it has been a distinguished one. However, as the strategy is evolving, there needs to be a new perspective. The new Commander seems to bring that perspective to bear. However, the Taliban have not been sitting idly by. As I write this, Al Jazeera is reporting a major attack by the Taliban in the City of Khost. They have been attacking Government Buildings and the whole City has been shut off
I am right now watching C-Span's Live Stream of the White House Correspodents Dinner. It is quite a show!!! There are a lot of celebrities and the video retrospective of the year is quite a feat. I am glad folks are having fun.
I was thinking about the White House Correspodents Dinner past. This one is a good one
Today Eric Holder was before the U.S. Senate Subcommittee on Appropriations for the Justice Department to discuss the FY 2010 Budget for the Justice Department (Source: Really Long Link retrieved 5/7/2009). Not withstanding the usual mundane testimony, I found one particular question by Senator Alexander of Tenessee quite funny. As the country continues to come to grips with the debate over torture, Lamar Alexander threatned to start investigations about what the Clinton Adminstration (including the Attorney General) knew and approved about torture. My initial reaction was, wow!!!
Up to today, I viewed Lamar Alexander as a reasonable guy. But, I suppose he has to march in lockstep with the Limbaugh/Savage/Hannity wing of the Republican Party so that he won't be thrown under the bus. What Lamar Alexander and the Republicans are working on is to basically whitewash the sins of the Bush Adminstration by blaming everyone else. What Lamar Alexander showed today was a total disregard of the past 8 years and what the country has gone through. The Republicans wrecked the Constitution and banrkupted the country. If they want to present a constructive alternative, I welcome it. I am yet to see one. All I see are empty slogans and discredited old arguments
The results of the bank stress tests are due later on Today after markets close. I have seen reports that a number of the banks will be forced to raise additional capital. For instance, the number I have seen for Bank of America is 33 Billion Dollars. The number for Citigroup is around 50 Billion based on the reporting I have just seen from the Financial Times.
The numbers that are being talked about are scary. The remaining funds in TARP I are around 100 Billion Dollars only. The scale of the need for capital means that there is going to be a need for TARP II. Although some members of the conservative community do not wish to hear it, the need for nationalization of the institutions is becoming ever more vital now. The U.S. Treasury has given some 45 Billion Dollars to Bank of America so far. The fact that it requires a further 33 Billion Dollars means that the Bank is not a viable going concern in its' present form. The math simply just does not add up
I wrote about Republicans and their efforts to begin the rise from the ashes. Another effort at this has been launched by Eric Cantor and a few others. It is called the National Council for a New America. Here is the Introductory Video that Eric Cantor posted to his YouTube Channel:
Jack Kemp died of Cancer last night. For those who do not know who he was, he was a Quarterback for the Buffalo Bills who went on to have a very successful Political Career as a Member of the U.S. House of Representative, Cabinet Secretary and Vice Presidential Nominee. He helped to pass Ronald Reagan's First Tax Cut along with the late William Roth of Delaware.
Although I have had fundemental disagreements with his views on Government, I respected him because he understood how to reach out to others. He believed in the Republicans having a big tent. He understood before many how America was changing. He talked about it in this Meet the Press interview with the last Tim Russert
Arlen Specter, the Senior U.S. Senator from the State of Pennsylvania, is going to switch to the Democratic Party. I am not that shocked by this revelation currently being reported by FoxNews and now the Washington Post. But, the implication for the power in the U.S. Senate is going to be far-reaching for Republicans becasue they are one seat shorter to having a fillibuster-proof majority once the Franken-Coleman Side Show in Minnesota comes to an end.
It is ever more imperative to insure that the rights of the minority is respected. If the Democrats do what the Republicans did for six years, then nothing really changes. But, this does mean that the Republicans need to emerge from simply being the Party of "No" and providing true constructive solutions. There is never a dull moment in politics--that's for sure.
One of the side shows of the 2008 campaign is still the lingering Minnesota Senate Race. Norm Coleman has been putting up a valiant fight. From what I read in the Thursday edition of the New York Times, he has given up quite a bit to do what he thinks is right. He has no job right now and spends his time weighing his legal options and working part time as a consultant for the American Jewish Congress. I felt kind of sorry for him as I read this story.
As I have bee assessing the continued legal challenges and the road ahead, it seems as if the odds are stacked against Coleman and for Al Franken. I continue to be concerned as to the rhetoric from the right on this. Some of the more passionate advocates have said that the election is being stolen. I have seen no indication of it. I have found Minnesota to be one of the most transparent of processes out there. For the sake of the people of Minnesota, this has to end at some stage though
As the week came to a close, the markets continued their recovery. Wells Fargo Bank had records profits and Ford cut its debt. But, unemployment has continued to rise. The International Monetary Fund has estimated worldwide losses at somewhat in the neighborhood of 4 Trillion Dollars.
In the United States, losses by US State and Local Pension Funds are estimated to be at approximately 40 percent of the 2 Trillion Dollars held by the 2600 Pension plans that pays out pensiosn for retired teachers, police officers and firefighters.hese pension plans are selling their assets at fire sale prices trying to make their pension obligations.In the midst of this mixed news. I continue to be concerned about Congressional Budget Office estimates on the actual costs of the proposed Budget Blueprint. The deficit is projected to be 9.3 Trillion Dollars over the next decade. It will average 5.3% of the GDP--something that the President's Budget Director himself concedes is unsustainable
Bob Gates, the U.S. Secretary of Defense, has begun a process to truly transform U.S. Defense Policy. I have written about the F22 and the analysts who have attacked how useless the plane is. We have to truly think about Smart Government in the era of limited means. For a country that continues to fight two wars with no end in sight, the country has to change its stance. The Secretary's bold move to transform the defense budget has begun this process.
As this debate begins, the opposition will be fierce. Senator Inhofe of Oklahoma has come out with a YouTube Message accusing the Adminstration of disarming America. There will be others on the so-called right who will be just as strident and bellicose in their rhetoric without realizing the true realities going on. I view Mr. Inhofe's pronoucement as not truly credible simply because of his role in delaying plans to deal with global warming due to his scepticisim and belief that somehow global warming was an "act of god". I think that Mr. Gates understands what needs to be done. If there are concerns, I expect it to be on the merits. If the human capital is the concern, I am certain that they can be reassigned to other projects and initiatives. As it stands, America will still spend more than the entire rest of the world combined. Taking advantage of Smart and Innovative ways to adjust to the new realities is the right and responsible thing to do. I see no other way.
Whenever someone dies, it is always a sad moment. Life is the most precious resource granted. The death always leaves a void. Although I have continued to believe that we are all passengers in this journey of life, the emptiness will never overcome. I view it as ever more tragic for the heroes who have paid the ultimate price while serving in wars in faraway lands. This includes Americans, Canadians, British, Australians, German, French and other NATO and coalition members who have strived to eradicate the extremism that continues to grow like a cancer.
When President Obama came into office, he directed Secretary Gates to leave it to the families to decide whether to allow coverage of their fallen coming back home. Mr. Gates decided to leave it up to the families. The first coverage was of the latest fallen hero, U.S. Airforoce Staff Sergeant Philip Myers
As I have written about the Econmic Winter of our times, I have also continued to witness quite a transformation despite the challenges all around us. I view the transformation in the technology space as nothing less than spectacular. As a "Twitter" addict, a facebook "fan", and a committed writer/blogger, I am excited about the possiblites. I was witness to Sun Microsystems meteroic rise to be the darling of the IT world during the dot.bomb era. I cut my teeth writing my first email on a Sun Sparcstation 2. I was also witness to the spectacular fall when the bottom fell out back in 2000.
Since the internet bubble burst, Sun Microsystems has tried to figure out a reason to live. It has attemptef to be the go-to vendor for open source by buying the leading open source database player (MySQL), it made a signifcant investment in storage by buying a major storage player (storagetek), yet it has failed to gain any traction. It has a large installed base and a signifcant service business. But, it appears that the days of it being an independent major player has passed. I view Sun as a company about potentially what may have been. I think that it is another symbol of the very transformation that we have had to deal with throughout the last number of years
The numbers that came out on Friday on the U.S. Unemployment numbers were shocking. It went up "officially" to 8.25%. But, according to the Bureau of Labor Statistics Report, it did not include, "...About 2.1 million persons (not seasonally adjusted) were marginally attached to the labor force in March, 754,000 more than a year earlier. These individ-
uals wanted and were available for work and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 685,000 discouraged workers in March, up by 284,000 from a year earlier. Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The other 1.4 million persons marginally attached to the labor force in March had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities."
(Source: Really]Really Long Link retrieved April 4, 2009
Eric Holder, the U.S Attorney General, has decided to drop all charges against former Republican Senator Ted Stevens. Thanks to this single decision, I believe that name "Justice" has truly been put back into the Justice Department.
I wrote at the time that Senator Stevens had to be commended for his service. I stand by today. Today's decision removes a cloud over the years of service Senator Stevens has had. Countdown had a discussion about it earlier on this very subject
The World's top 20 countries have desended upon London. London has braced itself for anarchy. Anyone who does not understand the anxiety felt by the people of the world seems to be living in fantasyland
In the midst of all the continued bloodletting I have written, I was especially shocked to find out that the man in charge of the Pension Benefit Guarantee Corporation decided to move its' investments to stuff like hedge funds and other riskier investments. The fund appears to have lost substantial sums. What is troublesome is that this is the fund that guarantees defunct Pension Funds which continue to pile up as the US Economy continues to implode. I could only think what would have happened to the Social Security Trust Fund if George W. Bush would have succeeded in moving monies into the private markets. Why was this allowed to happen? Why weren't safeguards in place? Where was Congress in all of this?
I have been making the rounds of the Sunday Talk Shows. NBC and ABC had Tim Geitner on and CBS' Face the Nation had the President on as well: (available at http://www.cbsnews.com).
As I listened to the Face The Nation Interview, I was glad that Bob Schieffer brought up Mexico. I have regarded Mexico as the soft underbelly that is indeed a major threat to the security of the United States. I did also find Meet the Press quite insightful in explaining in layman's terms how the plan is supposed to work. As I listened to all the shows, the central message I heard was that the Obama Adminstration views the strategies on both the economy and Afghanistan was on track. Time will only tell
There was a recent poll taken in Iran to assess how the major Presidential Candiddates fared in the upcoming elections. The current President polled at 36.8%, the former President Mohammad Khatami polled at 28.4%, the Former Prime Minister Mir Hossein Mossavi polled at 11.8% and the former Parliamentary Speaker polled at less than 1%.
As I assessed this poll results (taken before the advent of the holidays and the traditional two weeks of vacation in Iran), I found it quite signifcant. If the moderate forces do in fact unite, they will present a profound challenge to idiotnejad. The current President has the power of incumbency and the entire state apparatus at his disposal. Yet, somehow, the people of Iran have a knack to pull off a rabbit out of a hat
The Dow went up almost 7% today. The rally was quite spectacular. It was in response to the U.S. Government's plan to buy up to a Trillion Dollars worth of Toxic Assets to help get lending going again.
Although Paul Krugman noted that "..Zombie Ideas have won...", It is frankly gratifying to write about some good news after so much bad news that has been out there. I have written weekly about the Economic Winter we have had over the last number of months. The U.S. taxpayer will guarantee any monies put up by private investors against any downside risk. To me, It is quite a deal for anyone who has money to invest. Yet, what bothers me is how the underlying fundementals of the banking system remains shoddy and broken and has to be changed
Iran's Supreme Leader responded to President Obama's overture. Iran's Supreme Leader is the ultimate decider of all state matters in Iran. The Supreme Leader went to Mashad in Eastern Iran on the first day of the Iranian New Year to talk about this and other matters
I found the testimony of the Commanding General for US Northern Command quite timely in terms of plans to deal with the violent Mexican Civil War. Not withstanding the spin by Felipe Calderon, it is a war between the Mexican Government and the drug cartels. The United States is the key player because it is the biggest consumer of drugs.
Some are worried about the militarization of the border. I have repeatedly written about my worries about the soft underbelly that is Mexico. Mexico can be potentially a failed state. The idea of a failed state on the border of the U.S. is worrisome indeed. I welcome the initiatives to deal with it. I wonder if it is not too little, too late though. The General seems to think otherwise
I wrote about the profound concerns about the California Budget. I wanted to assess how the new stimulus plan will help California. California, for instance, is slated to receive around 11 Billion in Educational Funding alone. Funds are starting to be distributed. I am particuarly keen to understand how the 11 Billion Dollars slated for California is going to trickle down to the local level.
Right now, the Capistrano Unified School District in Orange County, California is faced with a 38 Million Dollar Deficit. They are slated to make substantial cuts. According to the California Teachers Association, Twenty Six Thousand Teachers were slated to receive pink slips. As California has already launched its' companion website, available at: http://www.recovery.ca.gov/, I will be looking into the 11 billion dollars and how it is going to be spent
I had hoped to leave behind the Bush years in my writings here. Yet, it appears that the actions by the Bush Adminstration will continue to be the talk of the nation for a while yet.
I have been reading with horror comments by Seymour Hersh about what had transpired about an alleged assassination squad. The accumulation of power is quite scary. I realize that the reporting done here by MSNBC is biased. Between the John Yu memos and this allegation, it shows an apparent debunking of the Constitutional Form of Government during the past eight years. Not withstanding the political tone of it, the mere fact that this kind of "command" existed should be of concern to all
I find the recent spat between Jon Stewart and Jim Cramer and Meghan McCain and Ann Coulter hillarious to say the least. Bill O'Reilly talked about it in his Factor show on Monday on Fox News. He talked the Cramer vs. Stewart feud with Stewart Varney of Fox Business and on Meghan McCain vs. Ann Coulter with a reporter for the Washington Times.
I saw Jon Stewart's show, I saw Jim Cramer's "response when he appeared on MSNBC and NBC and then Jon Stewart's rebuttal. Jon Stewart nailed Jim Cramer. There was no question about it. But, O'Reilly's way of lambasting Stewart for going after him for being "liberal" and "mainstream" is a bit far-fetched. What O'Reilly and the folks at fox forget to tell the rest of the world is that they were the "mainstream" during the 8 years of the Bush Adminstration. They pushed this fiction that markets work and self-regulate and had to be left alone. Well, this so-called conservative philosophy (as they call it) was in fact the cause of the economic winter we are faced with today. Bernie Maddoff and Allan Stafford are but the most extreme of examples. But, the entertainment nature of CNBC was also just as much to blame in my view. Jon Stewart called Jim Cramer on it. I do commend Jim Cramer for agreeing to appear on The Daily Show later on tonight. That should be quite interesting. But, this fiction of a liberal bias that Bill O'Reilly continues to push gets to be old. It is entertaining and funny, though. Cramer made some bad calls and he has to own up to it
I congratulate the US Senate for the vote to ease sanctions on Cuba. It is high time!!! As I celebrate another one of the Bush policies being tossed into the waste basket, I thought about Israel. I wonder if the Congress (and by extension the Adminstration) will have the courage to show Israel the "tough love" necessary to overcome the deep divisions that continues to haunt the region and the world.
The Sunday Talks shows on US Network Television featured quite a number of political and media personalities. As I attended the NBC and ABC's webcast, I was trying to find an alternative vision that the Republicans offered. Lindsay Graham and Richard Shelby only said that they were opposed. Beyond that, I did not hear any concerte solutions to get this economy jump-started again.
NBC also featured New Ginrigch. He is probably the leading Republican thinker right now. He also brings a historical sense of it all, having been a Professor of History. I was gratified to hear him say two key things: 1) The Economic Winter we're contending is nothing like we have seen before & 2) He does not want to see the President fail. In my view, these two key things are a solid basis to talk about a constructive vision of the future. I found his contention that the proposed tax increases as equivalent to the smooth-Hailey Tarriff Act a bit of an overstretch. I also think that the advocacy of doing nothing is also quite distrubing because of the disastrous decision made by Herbert Hoover
As I continue to assess the state of our economic health, it seems as that elusive sense of hope and optimism is forever elusive. Let's just see a sampling of the reports over the last two days:
1) The Dow in the United States lost another 200 points just on March 5. It is at the lowest it has been since 1997. But, the bigger story is the Wilshire 5000 index. It truly shows the extent of the bloodbath we continue to see
Sanjay Gupta withdrew his name to be considered for the position of Surgeon General. When the buzz over his nomination first surfaced, I was estatic. His qualifications is beyodn reproach as a neurosurgeon at Emory University. His Prominence as the Chief Medical Correspodent for CNN provided a ready bullypulpit to push his ideas through in a such a way not seen since the days of C. Everret Koop.
I found Dr. Gupta's withdrawal to be extremely unfortunate. The unwarranted scrutiny that comes with public service appointments will deter many. Sanjay Gupta was especially targeted by the so-called liberal groups who took issue with his thoughts on Michael Moore's Film, Sicko. The fact that he made some factual oversights (and subsequently apologized) should not have deterred his nomination from proceeding. I regret that
The blood letting in the markets has continued nonstop. The Dow was as choppy as ever as I was monitoriong the daily trading. Beyond that, there is not much good news that I could hold on to.
I did find the Adminstration's annoucement of a new trillion dollar loan facility interesting. But, the problem I see is that the Opposition will continue to throw whatever roadblocks it can. The need to move and spur investment is driven by how bad things are for the financial system and the overall economy. I found the news about Ford's Feburary Sales to be especially shocking. Sales dropped 48% from the same period last year. People have just simply stopped buying. I view Ford as the one that has a fighting chance to emerge from the carnage in the Auto Industry. It will be a shadow of its' former self, but at least it will survive
Dr. Doom (aka Nouriel Roubini) was just interviewed by France24 (http://www.france24.com). He was one of the few economists who foresaw this Economic Winter we are faced with. A startling statistic he noted was that US Banks have a capital shortfall of some 1.5 Trillion Dollars. Furthermore, his assessment was that the U.S. Financial System was under government control. The guarantees extended by the Government is some 9 Trillion Dollars.
The argument of whether we're socialists now is pretty much settled. Nationalization has happened for all intent and purpose. Citigroup was the first to fall. Right now, AIG is getting a 4th bailout. Others are in trouble. I predict that The Obama Adminstration will make the decision in relatively short order to formalize this and work to get it cleaned up. There is no other way out.
The week has been an interesting, fun and exciting week. It started with Barack Obama's Speech to Congress, the release of the budget blueprint and then culminated with the Conservative Annual Lovefest at CPAC in Washington. Barack Obama also announced plans to remove troops from Iraq. I found John McCain's support to be surprising. Yet, the Democrats were not happy. There was of course Tavis Smiley's State of the Black Union in Los Angeles. I saw Michael Steele there as well. MIchael Steele continues to interest me a great deal.
CPAC's Congress has interested me a great deal. I have been reading with great interest the speech by Rush Limbauagh, who is the "man" in talk radio. I saw other conservative luminaries come out to make their case. I almost fell out of my chair when I heard Rick Santorium throw George W. Bush and John McCain under the bus
The President's Budget Blueprint has been released and is now available on http://www.omb.gov, the Office of Management and Budget Website. It is 142 pages long. There is a big gap between capacity and the ability of businesses to produce right now. Government has to be the purchaser of last resort. The blueprint has begun this process.
Understanding this blueprint will take a while. I will not take what the Republicans or the Democrats say at face value. I do welcome a number of initiatives. For instance, I think that in the spirit of "Smart Government" that I advocate, some of the weapon systems is clearly not geared towards war in the 21st Century. The one weapon system is the F22 Raptor. There are jobs at stake. But the F22 has not seen one day of action and is suspectible to be brought down by a single missile. It seems to me that at $ 140,000,000 per plane, the taxpayers can get a lot better bang for the buck by investing it in drones. From the recent testimony I have seen Secretary Gates give before the Congress, he is in agreement with this. There are many other places where we can look at doing things differently
Mr. Obama went before the Congress to speak on the State of the Nation. He began by reminding the country and the world about the crisis America faces, but he said that "..we will recover". As I reviewed a preview of the speech on the White House website, I was moved by a quote form Ty "Sheoma Bethea, a 8th Grader from South Carolina. She is a student in a run-down school. She took to writing to her members of Congress asking for help for her school. She borrowed the money from her principal to mail out the letter. She reminded the members of Congress that , "....we're not quitters". This is what the American Spirit is all about
Mike Pouraryan
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