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.
It has been quite a month. America is about to enter the Mid-Term Elections. The latest primary results is bound to prove wonderful theatre based on all the pronoucements coming out of the Republican Candidates.
I fell off my chair when I read Politico's latest reporting on what the Republicans have in store. Darrell Issa has threatened, apparently, to begin a wave of investigations of the Obama Adminstration. I need to assess and realize what that will prove. Even this is not as "out there" as the latest pronoucements from Joe Miller, the apparent front runner for the Republican Nomination for Alaska's US Senate seat. Hiss latest comment has been that Unemployment Insurance is not constitutionally authorized. He also noted about the fact that he would have voted against the Fin Reg. Bill. Mr. MIller needs to wake up and realize that Alaska is a "one industry" state--Oil. What happens when the Oil Runs Out? What about all that is going on with Climate Change? Maybe Mr. Miller may want to listen to this bit of a clip from the West Wing:
It is curious how the current debate in the Country exactly resembles what folks like Joe Miller, Sharon Angle, Ken Buck and their sponsors are pushing. I also laughed when I heard Sharon Angle's latest comments about closet Communists currently in Washington who do not care about America. The Democrats have to fashion the debate in this fashion and make the country (including all the detractors) understand the true stakes in this debate.
As I assessed the Republican Attack Machine, I have been truly tried to figure out the Republicans (and their Tea Party allies) as they have continued to evolve. The new Politico Report underscores a very simple objective the Republicans have: they want Power and will sell their soul to get it. They have no interest in Governing. I have to wonder whether they understand what Governing is. I guess Governing means being a Constitutional Conservative. When someone like Ms. Palin throws this around, I hope she would tell us what this actually means. But, when she goes after Scott Brown, then I have to wonder who the Republicans truly actually like as this latest pearl of wisdom from her reflects:
"Well, you know, take the consideration, though, that's Massachusetts, and perhaps they're not going to look for such a hardcore constitutional conservative there, and they're gonna put up with Scott Brown and some of the antics there."
As the Economy grinds to a halt, Congress is in an election mode while the Republicans push their "vision", the dominant theme in Conservative Circles has been "the Mosque" and "restoring Honor". As for the "Mosque Hysteria", I have been amazed at how Fox has pushed the so-called "Mosque Hysteria" to new extremes. Fox is merely not satifised with just pushing the fiction through its' Cable Network. Now, the affiliates are in the game, too. I saw a report on LA's Fox Affilitate about the developer for Park 51 and his supposedly questionable tactics and how he rose from humble beginnings. How the anchor led into this supposed "expose" was quite extra ordinary. All the folks who are opposed have yet to answer a simple question that Mayor Bloomberg asked: How far back should the so-called exclusion area be? During that Iftar dinner, the Mayor also noted that the very nature of compromise itself means failure. For me, one of the most profound disappointing aspects of it has been pronoucements by Mike Huckabee. He is one of the current stars at Fox. He wants to run for President again. But, I figured that as a ordained Minister, he would preach tolerance and acceptance of all faiths. But, maybe I expected too much. I again was reminded of another "West Wing" clip about the Bible:
It speaks for itself.
Moving on to reflect upon our World, this has also been a month that we have seen tragedy continue to unfold in Pakistan. Pakistan is ruined because of the floods. The ineptitude of the Government has fueled the already terrible living conditions in the Country. The scenes are simply heart wrenching. Yet, Hannity chose to talk about the "Green Swindle". I have to wonder what would Hannity say to Jacques Costeau when he noted that ":.....Man Kind has probably done more damage to the earth in the 20 century than in all of previous human history". From the little I know of Jacques Costeau, I don't think he was a leftie radical Commie--but a man who dedicated his life to the preservation of our Mother Earth. He said this back in 1996 when things were not as terrible as they are now. There was of course Iran and the firing up of the Nuclear Reactor. That is bound to be center stage for a while yet. Iraq continues to be as volatile as ever and Afghanistan continues to be ever more challenging.
I have written before about how I have admired the Republican Media Blitz. It has simply been brilliant. Whether it has been the Fox News Operation, all the personalities and their own online operations, the Right Wing Amen Crowd (Including Mark Levin, Laura Ingram, Michael Savage, etc.etc.), it has been a focused, concerted campaign to change the tone from one of hope to fear and despair. Hannity's particular crusade has been just wonderful to follow and observe. The headline on his website is mocking Barack Obama while on Vacation with his family. I am not sure what his problem is with the President taking a vacation. It is true that there are many in America who can't take a vacation--because they simply can't afford it. But, more importantly, I have to wonder where he has been just over the past few months--or even the past few weeks. In visiting his website, I wanted to find out if he had anything to say about the Pakistan Floods. I wanted to find out if at least he had a link to some of the wonderful NGO's who are trying to make a difference. I saw nothing. I plan on having one as soon as I am able to figure out an available banner for it.
Hannity Comrade-in-Arms, Glenn Beck, continues to amaze me ever more. I do view his actions and pronoucements to be ever more bizzare by the day. It is tough to go up against a man that is a legend in his own brain. But, he's dominating the debate and he is the talk of the town. He has every right to say what he is saying. His crusade against the President and for small Government. That's also well within his right. But, what I have a problem is that Glenn Beck's misguided, misconceived and outright lies he has pushed that must be called out. If he wants to change things, run for office. I frankly doubt that conservative firebrands like the Koch Brothers and the US Chamber of Commerce will support his efforts, though. He sure is making a lot of money, though..!!!
There was, of course, other news this past week. Five years ago this month, Katrina happened. The region is yet to fully recover. Yet, from what I have seen, there seems to be quite a resilient attitude that amazes me. I have been following the good work of Brad Pitt, The St. Bernanrd Project and others who have been truly trying to revive the beautiful City of New Orleans. I have also continued to be amazed as to the ineptitude of the Bush Adminstration, though. The infamous FEMA trailers are a testament to what the country had to be faced with. The country seems to have learnt from it. I watched with interest as CNN, MSNBC and other more true "mainstream" US outlets focused on the State of the Region five years after the calamity. The Economy and its perlious state also continues to be center stage. The downward revision of GDP growth shows that the chance of a double-dip is increasing. Anxiety is growing and it is showing. The supposed consesus is that the Government is not able to move even more aggressively.
As the US Campaign Season begins next week, my only question remains: What are the folks on Main Street then to do? Do the politicos have answers? Let's see what this month brings. It is bound to be very, very interesting indeed.
The Tea Party juggernaut is moving right along. The stories about the support from the Koch Brothers and the intense community organizing campaign by groups like Freedomworks is fascinating to follow. They seem to have understood and taken their queue from what Obama pulled off in 2008.
As the campaign gears up, what has helped the money interests has been the Citizens United Case. As I noted in previous daily write-ups, The President spoke out against what the Supreme Court did which drew the ire of the Chief Justice. The key statement from the Citizens United Decision was this by Justice Kennedy: "....If the First Amendment has any force, it prohibits Congress from fining or jailing citizens, or associations of Citizens, for simply engaging in Political Speech"..." The problem is that Corporations are not associations of citizens. I view their status as "quasi-persons" to be of continued concern and the power they have been granted through this decision will insure that their interests are protected. The US Chamber of Commerce has already created vehicles to insure that the interests of people are protected. This is part of a very disturbing trend about the power of money in politics. The rise of the self-funded campaigners (Rick Scott in Florida, Carly Fiorina & Meg Whitman in California) are just the latest examples of the disturbing trends
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
This is the launch of a new periodic feature here in "Outsiders". The U.S. Secretary of Defense has begun a concerted effort to squeeze out efficiencies out of the US Defense Establishment. It is not the easiest thing to do especially in light of the how much of the US Federal Budget it consumes. But, at least the Secretary has opened the debate
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
As a glorified geek, I am fascinated by Technology. I have periodically released write-ups in OV's sister site, Kitten Politics, with an implied focus on the social and political implications of it. Part of this fascination and focus for me has been the Virtual World with Evolutionary products like Second LIfe and hundreds of others that have evolved over the past few years. . I am increasingly convinced that the political elite in Washington and state capitals seem to be living in a truly Virtual and Make Belief world that is totally detatched from reality. The stories of people who have lost everything gets ever more depressing by the day.
The reality on Main Street is one that is horrific. Paul Krugman's August 1 Column in the New York Times talked about this fear that I have repeatedly talked about in my daily write-ups. Although he is regarded as a liberal, the fact that the prevailing attitude in Washington is one of not wanting to do anything in the name of fiscal sanity is simply sickening and irresponsible to the core. The ranks of the long-term unemployed continues to swell to unacceptable levels. There is no strategy by those who simply say No to actually figure out a way to bring people back to some semblance of decency
As I begin the new month of "outsiders", I wanted to begin with a hopeful note. But, What is going on in Washington leaves me frustrated yet sad at the same time.
This pas week saw a continued discussion about WikiLeaks and the disgust that key members of the Adminstration had over it. Admiral Mullen's statement about it showed the extent of the frustruation. I was trying to balance that with the pronoucements by the President, Senator Kerry and others whether this was important or not. I am still trying to assess it as the post-mortems continue on
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
The U.S. Defense Budget is almost 700 Billion Dollars. America is spending about 7 Billion Dollars in Afghanistan, alone. Conservatives have been touting the fact that the Obama Adminstraiton is actually cutting back the Defense Budget. The facts, unfortunately, dictates otherwise.
As the United States Defense Expeditures is increasing, the Domestic Front continues to be under enormous pressure. America is spending some 7 Billion Dollars in Afghanistan on a war that is not going well. The Defense Department seems to be running things, while the State Department seems not to even be a player at all. The entire Foreign Service of the United States can be fit on an Aircraft Career, yet almost 100,000 U.S. Soldiers are fighting in Afghanistan. That does not count the cooks, the security guys and all the rest of the support personnel that are now there. Interestingly enough, Drugs is not the biggest industry in Afghanistan--the War is
Michael Steele's latest Gaffee has been the talk of the town in Political Circles. Everyone seems to have condemned it--and rightly so!!! The only person who seem to have spoken up to defend Steele's contention that it was started by Mr. Obama was Ron Paul. Ron Paul went as far as to call it Nancy Pelosi and Barack Obama's War.
The Republicans need to figure out what they stand for. What is apparently clear is that there is need for Government. The Gulf Tragedy and the Financial Meltdown are but two examples of the critical nature of Government. Michael Steele is but an extreme example of the debate within the Republican Party. At least every Republican Leading Personality has spoken out against the man
As America Celebrates Independence Day with fireworks, barbeques and other festivites, my thought went back to the Founding Fathers of America. I thought about those who claim to be speaking for them. I wondered what would Washington, Franklin Jefferson & Madison, think of the Tea Party Movement, of the Militia Movement, the 912 Movement and all the so-called movements that want to take Congress and the Country Back. I wondered what would Jefferson's response be to those who believe that Islam is evil and wicked. Jefferson is the same man who bought a copy of the Holy Quran in 1762 that Keith Ellison, the only Muslim serving in Congress, swore his oath of office on. I wonder and yearn for a tolerant, understanding, just and compassionate America that seems to be falling by the wayside day by day with the increased polarization of the political discourse.
The political discourse continues to be fueled by the the well-known economic anxieties of the people. I have repeatedly written about and it becomes ever more so by the day with an actual unemployment rate of 16.5 Percent. I see it every day as I see people standing in street corners noting how they are in need of work as the remnants of the social safety net is gradually dismantled. The debate within the Presidential Commision is even going after Social Security, too
I continue to be amazed as to how the Democrats are continually counted off as dead. The pollsters are having a field day and instead of true reporting, all that is being said is about how everyone is in so much trouble. What these so called pundits neglect to talk about is the crap that is being said by all the candidates. The most ridiculous of them all, if course, is Sharon Angle. She is the Republican Candidate for U.S. Senate out of Nevada. She has had some pretty outrageous ideas that are really "out there". These "revolutionary" ideas include the elimination of the EPA and privatization of social security. Her new line on Social Security, of course, is personalization. She should not sweat that too much. The President's Deficit Reduction Commision is already talking about it. This is, of course, coming from an Adminstration that is deemed to be a Socialist and a Communnist. Oh Well...
Of all the crap that I have seen Sharon Angle say, the one that really bothered me was the nonsense she noted when she talked about how the unemployed were relegated to a culture of dependency and that there were jobs out there. Well, Ms. Angle needs to really come down from her Ivory Tower and take a look around. Due to the actions of her political soulmates in the U.S. Congress, 1.1 Million People have lost an extension of their benefits. From someone who advocates a Second Amendment Solution to the problems faced by the country, not much should be expected, of course
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
It is now officially the day after the Election in California. I served as an Election Coordinator for my local County. It is always a privilege and a pleasure to see Democracy in Action and to be witness and part of history. For me, it was also especially fun because my son joined me in the early set up process so that he can understand and realize Democracy in Action. I was extremely grateful for it.
The vote count is continuing. However, the Republican and Democratic Nominees are known: Jerry Brown and Meg Whitman. As I have written before, Meg Whitman and Steve Poisner tried to outdo themselves in telling the State who was more conservative than the other. Meg Whitman came out swinging about old time politics, about how things are to change and how she was going to ride into Sacramento on her white horse trying to save the State Pension System, the Education System, etc. etc. etc. As for Jerry Brown, he reminded the State that he's been around and was at the forefront of technological innovation before Meg Whitman could spell computers
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
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
As I write this, I am trying to come to grips with the Political Earthquake going on in the Country. Currently, Arlen Specter's career in the United States is at an end. He was beat in the Democratic Party while having the support of the full Democractic Establishment. Dr. Rand Paul has beat the Republican Establishment Candidate in Kentucky. As for Blanche Linclon, she has been forced into a run-off in Arkansas.
Let me begin by unpacking Rand Paul's win. Rand Paul is supported by the Tea Party. The Tea Party is on the ascendancy within Republican Circles. Kentucky should stay in Republican Hands. What I find shocking is how MItch McConnell, the U.S. Senate Republican Leader, got kicked in the chin over the election is his own State. If he can't control his own state, how can he keep 40 large egos in place
This notion of Gangster Government that Michelle Bachman talked about during Tax Day really amused me a great deal. As such statements continue to be spit out by Bachman and the rest of the bunch, one has to wonder why the fans of mistrust are been flamed as they have been.
Michelle Bachman, to me, is dangerous. Michelle Bachman needs to explain herself why she called a Government that she is a part of Gangster Government. She is urging the Tea Party crowd to "take back the Government". The question is where is the country to be taken back from? I am trying to figure that out right now
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
I was quite pleased to see the job figures for Feburary 2010. It showed a robust increase of 162,000 jobs. I am well aware of the number of Census Workers who were part of this hiring pool. But, I continue to be worried about the realities on the ground.
The stark realities on the ground present a continued challenge to long-term development. I was shocked when I saw the report that the unemployment fund for 33 States is bankrupt. Congress did not agree to extend unemployment benefits to the long-term unemployed. Although I understand Senator Tom Coburn's contention to be fiscally prudent, what would his response be to those that I hear everyday at the One Stop Center wanting to know how much more they can expect
A statement from a group calling itself "Guardians of a Free Republic" has sent some 30 Governors letters apparently demanding that they relinquish their offices. Supposedly, they draw their divine inspiration from Gandhi and Dr. King and have supposedly peaceful purposes. When I saw this, my reaction was : yaaaaaaaaaaaaah right!!!
The rise of such groups is a manifestation of a anti-government & anti tax movement that is starting to take a very scary turn. Although I understand the intentions of the so-called States rights Attorney Generals to file suite, what they also need to understand is that such conflicts adds fuel to the fire of such organizations. The Tea Party crowd is a more extreme example of this. The Hutari fools and the rest of the more radical elements of the militia movement also are a manifestation of this anti-tax, anti-government movement that seems to have found itself a wonderful advocate in Fox News and its personalities
The One Stop Center is a wonderful, yet at the same time terrifying place. One hopes never to have to engage the services of such a center. Yet, many have had to turn to that center in order to try and find an opportunity to land on their feet. As I have written before, the resources are terrific, the staff is fabulous and they try very, very hard to be accomodating and supportive of people going through the calamity as they are.
I was at a workshop earlier in the week trying to see what can be done to get further assistance. The statistics being thrown around by the staff about the number of people being serviced was truly scary. WIA case workers have over 100 clients that they work with trying to get them situated in jobs. There is success. But, it is taking more time. I have had a chance to meet folks who have been pounding the pavement for over a year now to no avail. One such person spends his time volunteering at the local networking club and facilitates the dissemenation of information. How such people continue to perserve in spite of all the odds is very inspiring. But, there is of course all those promises of quick rich schemes. I was laughing at a recent story in the Orange County Register about opportunites on the internet. The claim was that you could get going on making 8,000 a month working two hours a day. Who wouldn't want that job? There was many such advertising on late night informercials as well that seems to have gone away now. They do still pop on on websites periodically--but that's about it
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 pundits have been at it over the last number of weeks to tell the world what is wrong with Washington. What is clear is that there is no courage to make the tough choices necessary to bring us back from the edge of the abyss. What the Economist depicted is absolutely right on. I am sure that Mr. Linclon will look at the cast of characters in Washington now and just shake his head in disgust
The Republicans have been on a continued warpath to circumvent Barack Obama's agenda at every turn. The healthcare debate has shown that all they are interested in an outright power grab to implement their narrow idelogical vision on the country. They are opposed to anything that remotely insures that the average person has a fighting chance. Paul Ryan's plan to replace Medicare with vouchers is just one of those extreme examples.
While the Republicans have continued to dominate the airwaves and win the public relations war, the real world goes on. There was a spike in unemployment not withstanding the 51,000 hires for the Census temporary jobs. The "real" unemployment rate stands at 16.8 Percent, on par with Spain. What Republicans should take notice of is a speech by the US Chamber of Commerce President Thomas Donohue. He spoke and made five key points
Change was what Barack Obama ran on. Now that a year has passed, there has been a lot of talk and a lot of frustruation. I have been one of those who has at times expressed a lot of frustruation with the status quo that the Republicans seem to continue to adopt. An example of it was the comments made by Mike Pence yesterday appearing on Fox.
Mr. Pence, the House Republican Policy Chair, pushed the Republicans main point that the country should not rush into passing healthcare. He also pushed one of the key Republican talking points about a massive Government takeover of healthcare. As this public relations initiative went on, they also started roiling on reconciliation. What they failed to tell the country was that reconciliation has been repeatedly used by the party in power especially during the Bush years. They just forgot. I will not go as far as calling the Republican Senators liars. They simply forgot. But, what was clear was that the Republican objections seems to be hypocritical at best. There is also Mr. Stupack of Michigan who continues to push his view that the pending healthcare bill is going to fund abortion--which is another outright distortion
Recovery.Gov is reporting that it has paid out almost 40% of the 787 Billion Dollars in Stimulus Money. So far, almost 93 Billion Dollars has been in the form of Tax Cuts. The balance has been in the form of contracts and entitlements.
The loyal opposition in the Congress has been on the record noting how the stimulus has "failed". It has noted that not a single job has been preserved. This notion was reinforced by Senator Jon Kyl of Arizona the other day when he noted that unemployment does not create jobs. This was done in defense of the stunt that Jim Bunning pulled that would cost the Government even more to get it done now. I regard Jim Bunning 's bizzare stunt as the most extreme manifestation of what the loyal opposition in the U.S. Congress is hell bent on doing. I have noted that some 325,000 teachers not losing their jobs in and of itself is an achievement. In addition, it is clear that that the short term macro-economic effect has helped to forestall an even more dire situation
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 has begun at Washington's Blair House. I am right now attending it via a C-Span Feed. it is available at Really Long Link
There is a lot of give and take going on. It is clear that everyone knows there is a problem on both sides of the aisle. When the American Medical Association comes out and says that there is no competition, I sense a change being in the air. I commend Senator Coburn's realization that 30 cents out of every dollar going to non-medical expenses is something that has to change
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
Glenn Beck and others within the so-called Modern Conservative movement have a right to speak. The First Amendment gives them the right to say what they have to say. Mr. Beck makes a heck of a living peddling his views and has quite a following. I think he is quite an entertainer and has proved to be quite an organizer and provocateur. As Senator Lindsay Graham once said, he makes quite a living crying on Television.
I think that he has found quite a home on Fox News. I found his comments here quite interesting
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
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 is a new feature I have decided to introduce that talks about the Political Tidbits and to briefly reflect upon them. The talk of the town, of course, was Harry Reid and his comments about Barack Obama. I was frankly amused as to the air time that the talking heads gave to it over the past twenty four hours. To me, it was frankly much ado about nothing. The Republicans have had a field day over it, though.
The other Tidbit of News was Sarah Palin. She's a start and has got loads of fans. I am fascinated by how Brand Palin has shot into the stratosphere. Everyone was talking about her ascendancy d her continued ascendancy. She joined Fox News as an analyst. I really wondered what took her so long. Of course, she resigned the governorship, mades loads of money making speeches and wrote a blockbuster best seller. Not withstanding the spin by some, she still made loads of money from it. She will also be guaranteed to be a blockbuster at Fox. The only problem I see is how she is going to live down this "truth
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:
To me, the challenge of the next two years was illustrated in major way by the Economist's KAL. As 2010 draws near, there is a real need for leadership and firmness. For the President to succeed and have a chance at reelecction, this firmness has to be ever so. But the firmness will be overshadowed by the likes of Brazil and China who will continue to push ahead in spite of the United States. The United States has to figure out how to create the future. But, as the healthcare debate shows, the political elite in the country seems to be thinking yesterday while the rest of the world is thinking about tomorrow
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
As I have making the rounds of the Sunday Talk Shows, I have also been thinking about the plight of people on Main Street. I was out and about yesterday on some committments and noticed a few people with signs asking for help. After a bit of soul searching, I decided to muster up the courage to walk up and talk to both of them.
The first person I talked to was a maintenance guy. He and his wife worked for a company in Lake Forest, California. His wife was an Accountant. They both lost their jobs when the company shut down. He told me that he had been everywhere and left applications at all places. Yet, there was nothing. The only thing I could tell him was to keep the faith. I then walked up to talk to a couple who were at a Costco sitting and holding up a sign asking for help
Mort Zuckerman is no leftie. As one of the leading businessmen in America today, everyone should listen when he speaks. I recently read a column he wrote for the Financial Times about the Free Market. I frankly struggled with the stark realities that he laid out, even though I have also written here and in OV's sister sites about the realities of Main Street.
When he wrote this back on October 19, 2009, the updated unemployment numbers had not come out yet. The latest reports on the US Federal Deficit had not been announced. The continued fiscal bloodbath in States and Local Governments was yet to be announced for the month. Yet, he told us that "...The Free Market is not up to the job of creating work...". (Source: http://www.ft.com., retrieved 11/20/2009). The stark realities he laid out in his comments lays out the reality of the utter failure of the so-called free market as it has been laid out over the last number of years. For those who advocate more of the same, they have to realize that, ".....this is the only recession since the great depression to wipoe out all job growth from the previous business cycle...." (Source: http://www.ft.com, retrieved 11/20/2009). So, what is there to be done
California continues to march to the edge of the abyss. The statistics I have seen from Pew Resarch scares the daylight out of me. California's current budget deficit as a percentage of the general fund is estimated to be at 49.3% of the general fund. The numbers I have seen are at 21 Billion Dollars according to a report on PublicCEO.com. It is just as bad in Nevada, which I just visited. It is estimated to be at 37.8 Percent of the general fund.
I have always believed that California is a leading indicator of what is going on in the Country as a whole. Although I think that California will be back, it will be quite a while. An indication of the steep climb California has is what happened with the University of California System. The UC trustees just approved a 32 percent tuition hike for students along with some massive budget cuts. With the steep cuts, I see these folks cutting the legs from under future development. I see the continued evolution to be such that Education may end up belonging to the rich and the well-off. Some may not think Education to be a Civil Right, but it seems to me that if there is anything that would help guarantee a reasonable future is Education. My own local school district is dealing with a 25 Million Dollar deficit. The School Board has decided to balance this budget by going after teacher salaries and pensions
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
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
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
The Financial Times featured HSBC and its' chief, Michael Geohegan in a recent edition. I was particuarly keen to assess how HSBC has been able to navigate the World Economic Calamity befalling us all. Although the consesus is that recovery is at hand, it is yet to be fully realized.
I was quite taken aback when I saw Geohegan's view on the strength of the recovery. He believes that the so-called "Green Shots" are a temporary reprieve before everything starts going downhill again. During the interview, he asked the rhetorical question as to whether this was a V recovery or a W? He felt it was athe later. He did not want to grow too fast and it looks as if he is going to stick to that. What is surprising is how HSBC has been able to navigate through this in reasonably good shape. HSBC is one of the better capitalized banks with a core tier one ratio of 8.8 percent
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
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
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
It has been an interesting week. The US GDP numbers were announced Friday. It showed that the US GDP only shrank by 1%. This continued the drumbeat by the Obama Adminstration and the Fed underscoring the fact that things were really bad and the turnaround is now only a matter of time. The world needs to realize that this is only the first initial reading and will be subject to additional revisions over the next 45 days
Today is exactly six months since Barack Obama became President. The economic challenges continues unabatted, while the battles continue on other fronts.
I launched the Economic Winter Chronicles to talk about what the country and the world has been faced with. Although I was hoping for some signs of life, it seems as if that for every step forward, there are two steps back. For instance, B of A & Citi announced their earnings. They made money, but most of their money was based on one time gains. Goldma and JP Morgan, though, hit it out of the park. Although they are to be congratulated after having paid back the Government, it seems as if their profits has not translated into real gains in main street. Credit continues to be tight, which means that the Economic "Green Shots" seem to be few and far between
The House of Representatives passed Waxman-Markey. It begins the process of put some processes in place to stop the further destructuion of the planet. Many on the other side have said that this is against freedom. As I saw the debate in the House, I wanted to understand what the alternative was that the opposition offered. I also saw the "infamous" list of Republicans who crossed the aisle to vote for it. Townhall.com had it on their front page today
Sometimes, it is the personal stories of ordinary people that truly drives home the need to not settle for the tried and true, but the need to bold and courageous. This is the story of the struggle of one courageous family against a healthcare system that many say is among the best in the world. This is a story of people who have stepped up to be courageous and fight the good fight, despite the odds.
As I first found out about the story of this courageous family, the more I understood their dilema, the more I got sick to my stomach. The more I thought about what could have been done, the more mad I became. The more I thought about the debate that rages on about choice and about how "great" the system is, the more I was reminded of this story
After six months, it is simply a tragedy that the Minnesota Senate Race has not been decided. On one side, there is Al Franken. On the other side, there is Tim Pawlenty, Mark Richie and the GOP. So far, all state challenges have gone for Al Franken. Norm Coleman has lost every round.
Now, it is true that some in the conservative blogsphere have talked about Franken "stealing" the vote. It has to be a pretty massive conspiracy where even the Democractic Secretary of State said as late as last Friday that he will not sign a Certificate of Election until every legal avenue has been exhasuted. Although the Equal Protection Clause of the Constitution is certainly a possiblity, what about the right of representation by the people of Minnesota
When I first began to comment on our economic plight, I began by terming it an Economic Tsunami. I then continued the chronicles by talking about the Economic Winter we are in currently in. I have also been reading on the "happy talk" coming out of Washington and Frankfurt (the home of the European Central Bank) about "green shots" appearing. I don't see anything, yet. The scepticism of the leading lights of business who joined David Gregory at NBC's Meet the Press said it as such:
Workers continue to be worried as reports of layoffs and missed earnings keep coming. One such law in California to at least help mitigate the shock is the California Worker Adjustment and Retraining Notification Act. The so-called WARN ACT requires certain employers to give affected employees at least 60 days advance written notice of an intended plant closing or mass layoff. 147 companies will either have a mass layoff or an outright plant closing during this month alone. For instance, in January 2009, a major regional hospital in Orange County California filed to shut down with some 500 employees. Things continue to move in the wrong direction.
As for the sickly auto industry, I reported on the drastic measures being taken by Chrysler to pare its' dealer network. When the folks are not buying the cars, there is no reason to support such a extensive network. My initial estimate of the number of jobs lost was apparently way understated. The estimated job losses are slated to be around 38,000 people. GM is also right behind Chrysler. They are cancelling 1100 dealer contracts. The National Automotive Dealers Association is politically connected. After the dust is settled, only the major players (Penske, AutoNation) will survive. All others will fall by the wayside
I have been assessing what has been going around Nancy Pelosi since her news conference yesterday. What is sad about this argument is how much of a diversion this has all become as we are faced with more of the same in Afghanistan.
I saw an archive of the news conference that led to so much over the last day or so. She was clearly unprepared and was not on top of her game. For such a savvy political player, blaming the CIA was also wrong. She played right into the hand of the punditry. Joe Scarbarough was brutal this morning on Morning Joe. She made herself into a laughing stock
As I have been assessing the state of the economy, I continue to be amazed at the "happy talk" going on. The happy talk is just happy talk.
This past week has seen Chrysler in bankrupcy. 789 Dealers will be shut down within the next thirty days. An average dealer employs around 30 people. That's over 21,000 people losing their jobs. GM is getting closer to bankrupcy. I have seen reports that they are accelerating payments to their suppliers. Walmart made money. But, their sales are down. Retail sales continue to slide. Unemployment continues to rise. Despite all the optimism and happy talk, there is no light at the end of the tunnel. I did almost fall of my chair in laughter when I read the reaction of the German Economy Minister to the stress test the Treasury conducted on the big banks
Jean-Claude Trichet, the President of the European Central Bank, came out yesterday noting that that the downturn had bottomed out. Furthermore, the Organization for Economic Cooperation and Development also noted that there was a "pause" in the economic slowdown in France, the UK, Italy and China. They are "moderating".
This "View from the top" seems to not be making down to the street level. I conferred with a long-time HVAC contractor on Tuesday to asssess what he is seeing in the Industry. He told me that he started 2009 with 3.5 Million Backlog for his company. He lost almost 30% of the backlog because his clients could not get thefinancing needed. He started the year with 45 people and now he is down almost 50%. He also shared a staggering stastic about a 83% unemployment in the construction sector
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
The subject of hunger in America and the world has been something that has become an increasing national focus every since the advent of the Economic Winter the world has had to deal with. Recent reports by FeedingAmerica.Org continues this distrubing trend. According to the report, "...One in six young children live on the brink of hunger in 26 states in the U.S., according to a new report issued today by Feeding America. The rate of food insecurity in young children is 33 percent higher than in U.S. adults, where one in eight live at risk of hunger ...". (Source: http://tinyurl.com/o4n832, retrieved 5/9/2009).
As the breadbasket of the world, America needs to figure out a way to alleviate this and avoid people who have to resort to this in order to bring attention to their plight
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
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
We have begun a new month. May Day saw celebrations and demonstrations around the world by workers throughout the world. I have continued to see the "happy talk" on the economy coming out of the Adminstration and other governments. If the name of the game is confidence building, I don't see much of it just yet.
The International Monetary Fund has just come out with a scary assessment of the Global Financial System. The estmiated writedown of assets is somehow in the neighborhood of 4 Trillion Dollars, because they have included the estimated writedown on European, Japanese and emerging markets assets. The estimated writedown on US assets have been raised to almost 3 Trillion Dollars. Martin Wolf of the Financial Times noted that the writedowns come to some 13 percent of the aggregate domestic product. I stopped reading on because I got sick to my stomach
Chrysler and Fiat have joined a partnership!!! 30,000 jobs are being saved at Chrysler. The Governments of the U.S. and Canada have committed to making it work. The continued transition is going to be painful. Today is one such day. Chrysler will declare bankrupcy, though.
The President is continuing to speak on this annoucement. The United Auto Workers stepped up. Lenders have stepped up. I was especially surprised at the sacrifices by the Union. Some who were sceptical about the Unions should now see how the Unions did their part fo the sake of saving jobs, healthcare and pension. If only the banks and the hedge funds did their part
As I have been thinking about and assessing the Worldwide Economic Landscape, I continue to be worried. Spain's unemployment just hit the 4 Million Mark. Spain was one of the countries whose explosive growth was on the back of a real estate boom that has now gone bust. The parallels with the United States are just too scary to even contemplate.
The Organization for Economic Cooperation and Development has noted in its' interim Economic Report that, "...Economic activity is expected to plummet by an average 4.3 percent in the OECD area in 2009 while by the end of 2010 unemployment rates in many countries will reach double figures for the first time since the early 1990s, according to the OECD’s Economic Outlook Interim Report...." (Source: Really Long Link retrieved April 26, 2009). Because of this pessimistic outlook, the "happy talk" that came out of the meeting of the Finance Ministers in Washington is unrealistic to say the least. Although the free fall may be ending, but I am not seeing any recovery for a while yet. Vice President Biden , to his credit, did not that things will get worst before they get better. I agree with him completely
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
I have just briefly reviewed the latest minutes of the Federal Reserve Board Meeting. Contrary to what Ben Bernarke has said, it appears that the Fed Consesus entails a longer and more severe recession. The Fed has pretty much thrown everything in order to turn things around. So, if the Fed is gloomy, then what about the rest of us?
The markets "trimmed" their losses today. We're going thru wrenching change. I continue to truly wonder who will be left standing after the dust settles
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
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?
As the First Quarter of 2009 ends, I continue to remain hopeful. As I have written and reflected upon our world, at times I have been concerned as to the lack of respect shown to opposing views. I yearn for a substantive analysis of the challenges we face today so that we can work to solve them together. Outsider Views began in this spirit. I will continue this path because of my view on the need for consesus and the need to hope.
Today saw 73 countries attending the Hague Meeting on Afghanistan. I view the presence of Iran's Deputy Foreign Minister as a hopeful sign. Although I would have rather seen Foreign Minister Mottaki there, at least a senior official attended the meeting. Iran has a vested interest in Afghanistan being stable due to the immense refugee problem, the drug trade and the instability it inherently brings
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
I was witness to another busy and hectic week on the political front. There was of course the Budget the Obama Adminstration has sent up to the U.S. Congress. The U.S. Congress has started to write the legislation to get the process moving forward. It was also a week that saw the President throw the gauntlet down to the Republicans in the House to produce their own alternative. They did produce one. From the review so far, though, there are no numbers to back the so called roadmap they have proposed. I will be anxious to see what they have to say on this next week.
As I was witness to the debate, I was laughing at how the President seemed to be getting it from both sides. On the one hand, I saw the so-called right (or conservatives) in the country noting how the President was taking the country down the path to socialism and communism. I was really laughing when I read Dick Morris' comments and then visited his new YouTube Channel he had just laid out. On the other hand, I was also just as amazed and laughing at how the so-called left (or liberals) were keen to attack the President. Paul Krugman's admonition about the President's Public-Private Partnership as "cash for trash" was just one example. They are noting that the clintonites will help drive a centrist economic policy that will leave many out in the cold
The President had a busy day. Earlier, he hosted a conference call at the White House with some school kids and some members of Congress. They were talking to the crew of the International Space Station. What was cool to me was their access to email and the fact that they were able to call him using Voice-Over-IP technology. This is the exciting stuff going on. I am sure the kids were blown away by it. I know I was.
Later on, I caught the President's news conference. It was part of the full court press he had when he came out to California, went on the Tonight Show, had a 60-Minute Interview and even went on ESPN. As I listened to the news conference, I found someone who was in command of his facts and understood the magnitude of the problem that the country faces
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
The past day or so has seen "outrage" at the payouts to the AIG bonuses. I had a chance to catch excerpts from AIG CEO Liddy's testimony before the Congress. I understood Liddy's explanation from a pure business perspective. I was also quite amazed to hear that Mr. Liddy had said that the Federal Reserve was aware of the bonuses. In addition, I was equally taken aback when Mr. Liddy told the House Financial Services Committee that no major decision was made without the knowledge of the Federal Reserve. So, this apparent "shock" was quite appalling to say the least. I was laughing at the so-called "tough" questions from Congressmen. Many of these guys were around and were asleep at the wheel.
What this so-called "crisis" reflects masks the real challenges. The real scandal, in my view, is the payouts AIG has made to major banks after the company received the bailout tranches from the taxpayer. The Federal Government (and Federal Taxpayers) own 80% of AIG. I agree with Barney Frank in that as owners, the Federal Government should be able to understand and approve such bonuses. It appears that the Fedearl Reserve has done so and was aware of it. But I have also seen reports that the White House was not informed until a few days ago
Tuesday was St. Patrick's Day. Irishmen all around the world celebrated this day!!! Although it was a beautiful day, it was a day that continued to be tempered by all the continued challenges we face in our world.
There has been enough fury and discussions at the bonuses that was paid out by AIG. It appears that there is not much that can be done. I was at least glad to see that apparently the U.S. Treasury has decided to "wind down" AIG in an orderly way. Hank Greenberg came out today noting that he would not have paid out the bonuses and if anybody wanted to sue, he would sue us. I was glad to see that he agreed with my assessment. Based on what I was to learn subsequent about Hank Greenberg, it appears that if he was there, he may have taken the action necessary to avoid this catasphore. His successors sure saw to it that the company was driven to the ground--and by extension, faith in the U.S. economy
Newt Gingrich has annouced his 12 solutions for America. I found the 12 solutions to be full of ideas for the future. Here is how he talked about it on his American Solutions Website:
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
Mike Pouraryan
Add Comments
Read More
Comments (2)
