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: Although Funny...it may well be scary.....
I find the recent spat between Jon Stewart and Jim Cramer and Meghan McCain and Ann Coulter hillarious to say the least. Bill O'Reilly talked about it in his Factor show on Monday on Fox News. He talked the Cramer vs. Stewart feud with Stewart Varney of Fox Business and on Meghan McCain vs. Ann Coulter with a reporter for the Washington Times.

I saw Jon Stewart's show, I saw Jim Cramer's "response when he appeared on MSNBC and NBC and then Jon Stewart's rebuttal. Jon Stewart nailed Jim Cramer. There was no question about it. But, O'Reilly's way of lambasting Stewart for going after him for being "liberal" and "mainstream" is a bit far-fetched. What O'Reilly and the folks at fox forget to tell the rest of the world is that they were the "mainstream" during the 8 years of the Bush Adminstration. They pushed this fiction that markets work and self-regulate and had to be left alone. Well, this so-called conservative philosophy (as they call it) was in fact the cause of the economic winter we are faced with today. Bernie Maddoff and Allan Stafford are but the most extreme of examples. But, the entertainment nature of CNBC was also just as much to blame in my view. Jon Stewart called Jim Cramer on it. I do commend Jim Cramer for agreeing to appear on The Daily Show later on tonight. That should be quite interesting. But, this fiction of a liberal bias that Bill O'Reilly continues to push gets to be old. It is entertaining and funny, though. Cramer made some bad calls and he has to own up to it.


There is of course, Meghan McCain. Bill O'Reilly had a segment "analyzing" Meghan McCain by having a reporter for the Washington Times on. Bill O'Reilly's view was that Meghan McCain's main intention was vying for attention because the younger McCain works for the Daily Beast, which is a Tina Brown "Project". Tina Brown's sin is that she is a committed liberal. But, I have also seen a number of other centrists and middle of the road folks and yes conservatives like Tucker Carlson who have also been active in the Daily Beast. It seems to me that there has to be a better way to discuss substance vs. simply dismissing a rational argument because Mr. O'Reilly seems to disagree with them.


As I have written before, I think Ann Coulter is an interesting character. She makes a great living by being rude, obnoxious, arrogant and mean. But, she has to understand that simply being rude and obnoxious will not get the message across. She did feel "unloved" when she had a chat with Hannity. What I also find quite stunning is how President Obama is being now blamed for the foreclosure crisis, the stock market and the loss of retirement savings. Seriously, though, the Republican Party has to get away from this us vs. them attitude and realizes that the country is actually changing. I yearn for a constructive opposition. I view listening and reading about Coulter, Hannity, limbaugh, savage and the rest of thee conservative crowd as simply fun and interesting. Ms. McCain's views should not be taken lightly. She does represent a potential way forward for the Republicans to begin the process of renewal. The challenge is whether the Republicans will listen or not. I wondered whether Abraham Linclon will recognize today's Republican Party and the people who speak for it.

Moving on to CNN, today The Situation Room had James Carville and Nicole Wallace on. James Carville was asked by Wolf Blitzer about a comment he made in 2001 wishing George W. Bush to fail. This was based on a Drudge Report on a conversation James Carville had with a Fox Reporter right on September 11. James Carville noted that he wanted George W. Bush to fail. But, he also noted that as soon as he realized the calamity we faced on that terrible day, he asked that all politically-motivated comments be taken back because he realized the country was at war. Carville noted that the Fox Reporter complied. The implication I noted was the comparision with Rush Limbaugh's wish that the President fail while the country was fighting two wars abroad and an economic war at home. Rush was repudiated by many in the Republican political establishment--and rightly so.

Rush, Jon Stewart, Bill O'Reilly and the rest of the characters on our media are entertainers. At least Jon Stewart made an effort to inform, while he entertained--and was not shy about it.
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President Obama Lost His Cool!!!!

February 6th 2009 06:48
: About Time......
As the flow of bad news continues about the economy, the Republicans have continued their "jihad" against the stimulus. As I assessed the news and the debate, I was especially sickened by Lindsay Graham's tirade in the Senate. He accused the President of doing nothing and not reaching out. I was especially disappointed in him because I had found Lindsay Graham to be one of the more reasonble Republicans. But, his speech on the floor of the Senate yesterday showed the Republicans for what they truly are: An bunch of Obstructionist idiots who seem to be totally clueless as to what is going on in the Country. This is the reality:

Reality......
Are these guys blind?

As the Republicans have continued their "jihad", the President went out to see the House Democrats at their retreat. I saw the excerpts. From what I saw, he threw down the gauntlet. I saw him mad. He reminded us all that the Republican way was tried. It is that very policy that saw our National Debt mushroom to almost 9 Trillion dollars. The Labor Department's reports reflects a loss of 524,000 jobs for the Month of December and the highest level of unemployment report filed so far. Yet, the Republicans want to do more of the same. The plan I have seen has targeted tax cuts in it. What the Republicans fail to grasp is that we have an economy that is truly on the edge of the abyss. I had hoped that a sense of responsbility and patriotism will prevail for the good of the country. I am sorry to see that they are yet again trying to go back to the "roots" and have no clue about the greater good.

I have seen the devastation first hand and continue to see people of all walks of life suffer. The personal stories are heart breaking. Right now, People are simply thankful still to have a job. No one has confidence right now. If the obstructionism shown by the Republicans is Lindsay Graham's definition of responsbility, I wonder what the Republicans will define as irresponsiblity. I welcome the President's rage yesterday. He is reflecting the mood of many of us that the time to act is now. It is high time!!!

The Republicans have to either play ball or face annihilation at the polls in 2010. The country demands action. The price of inaction is equal to a nuclear holocaust.

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: It is truly getting old!!!
I continue to be scared and concerned. The stress on economies continue unabatted. I decided to slightly modify my daily commentary's title to truly note what is going on. I eagerly await the day when I stop this chronicle and celebrate the economic renewal of the world. I am convinced that it will happen. We just need to be vigliant, stay upbeat and not lose hope. It is a tall order based on the latest developments.

Tuesday saw another rash of bad news. Corning annouced job cuts to the tune of 3500 workers. There was a front page story in the Tuesday edition of the Wall Street Journal about Law Firms going out of business due to the continued economic calamity being faced. The bluest of blue chip firms have not been immune. As trade finance finance also dries up, countries have resorted to barter deals to secure food supplies for their food.

As I have continued to write about the reality on the ground, The Republicans on Capitol Hill continue their broadsides against President Obama's Stimulus plan. The Republicans are pushing the fiction that this stimulus plan "will not work" and want more tax cuts. They seem to be in fantasyland. They seem to forget history. Martin Wolf of the Financial Times, in a recent article, said that "....At the end of the Napoleonic wars, the UK had a raio of public debt to GDP of 270 percent....." Now, it is quite possible that deficits can be sustained for quite some time as the economic mess is sorted out. Although Obama's plan is not necessarily sufficient, the American Economy needs the shot in the arm to gain the confidence back. Every day that the Republicans delay this, it means further erosion of confidence. Confidence is the underlying driving factor behind growth and investment. The Republicans seem not to realize that.

I do see signs of hope, though. Citigroup saw the light and cancelled the 50 million corporate jet after a call from an Obama Adminstration Official. My guess is that it was a call from Tim Geitner to Vikram Pandit, Citigroup's CEO. It has also agreed to trim back its' fleet of jets to 2. If I were them, I would get rid of them and hook up with NetJets. There is of course the annual World Economic Forum at Davos. I guess the excesses will not be as prevalent now that some of the leading lights of past (Lehman, etc.) will no longer be there to "host" events. Hopefully it is a sign of things to come.

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