Bernake a Socialist?


I was thinking about the $35 billion the Fed infused into the system today. Some thoughts:

1. My understanding is that the Fed bought securities that were, in reality, home mortgages. In other words, the Fed now has the right to foreclose on homes... Sort of makes the government part of the capitalist system. Is that not a type of socialism?

2. Is this not hypocritical? On the one hand, conservatives believe markets should rule, i.e., if there is a bubble, let it be. On the other hand, if the rich stand to lose some money, it is the Federal Reserve to the rescue. I smell a double standard.

3. $35 billion is a bunch of bucks. Enough to pay for all the children in the nation to have health care. Enough to bring all of our bridges up to par. Enough to fund 3.5 months of Iraq. Could not the money have been put elsewhere? (Although, I guess it is just an investment... and the government will get its money back. On the other hand, isn't investing in infrastructure and children just as important?).

4. What happens when the markets stabilize? When the price of securities go up, will the Fed sell its portfolio at a market rate, or will it take a loss and allow the hedge funds to rake in the profits?

I have seen no blog ask, let alone answer these, questions.

The Irony of the Right Defending Bush


This is delicious irony. Bush fires law and order US Attorneys and the right is carrying his water.

This is yet another example of Bush not being a conservative, but the conservatives supporting him, nevertheless.

Ever since he was elected, I could not understand why conservatives, who claimed the moral and ethical high ground, would support him. There is no question that Bush is not a conservative. What he is, I don't know, but conservative he is not.

So, he fires US attorneys for political reasons. I really did not expect the conservative movement to run away, but it shows, once again, that they are shills, unwilling to hold his feet to the fire.

I challenge them to explain how Bush is any more conservative than Clinton was. Or how having Bush in power is any better, or worse, than having Kerry and Gore as president would have been.

Rove pulled the wool over their collective eyes.

I am a firm believe that the conservative movement, if shown for what it really is, commands a small percentage of the populace (the same, by the way, goes for the liberal movement).

With the exception of its view on sex (intercourse, that is), I think we are really a nation that agrees with the political, economic, and social position of the Catholic church. Were I a believer in Christ being the messiah, I would be a Catholic (or at least a protestant).

New Slogan


I have a new slogan. At least for me.

Two questions:

1. Is anyone else using it (no way I coined the phrase)?

2. Is it any good?

Here it is:

"You can't spell bullshit without Bush"

I can't do polls, so, if you happen to read this, just leave a comment.

One Sure Way to Defeat


Boy, howdy, I am frustrated with President Bush.

The way I see it, we have two choices in Iraq (the same two we had in March 2003). 1) Go balls to the wall, mobilize the entire country to the war effort and kick Iraqi ass and 2) stay out or get out.

Bush is taking half measures. Powell Doctrine? Screw that. Let's do it on the cheap, they will welcome us. Bush is from Mars, everyone else is here on Earth. From day one he has fought with half measures.

Sure, no-one likes a war. But, if Bush had said in February 2003: "We have to win in Iraq. For that reason, I am mobilizing every Guard and Reserve unit we have and reinstituting the draft, and raising taxes" I think the nation would have responded. But, nooooo, he has to fight this half-assed and destroy the budget.

I was mobilized. I went because I felt loyalty to my colleages (I could have resigned much earlier). For what? For nothing.

I don't hate this war. I don't hate that I was mobilized. I don't even hate Bush. I hate that Bush has led an adminstration on what may have been the only path to defeat possible. I don't know why he has done it. I can only assume incompetence.

A Tribute To "Doc" Bradley


I just finished reading "Flags Of Our Fathers." It is a poignant and very powerful tribute to the father of the author, James Bradley. John Henry (Doc) Bradley was one of the men in the famous Mount Suribachi photo which played such a part in America's resurgence of patriotism when things looked their darkest during World War II.

Reading this book was painful for me. I have always taken pride in the fact that I was a Corpsman in Vietnam. "Doc" Bradley was the epitome of courage and selflessness that so many equate with that particular military job. I remember my days in Hospital Corps School at Balboa Hospital in San Diego, California. I remember my weapons and survival training at Camp Pendleton. I remember the "old" veterans who taught us. They talked about such courage... About how Navy Corpsmen had more Medals of Honor per capita than any other rating in the military. They worked to build the kind of Esprit De Corps and pride that came so naturally to all the men I knew then.

I've known a lot of United States Marines during my lifetime. They are a special breed. As a rule, they HATE Navy "guys".. But they love Corpsmen as one of their brothers. I can't describe that feeling to anyone who has never experienced it. But nobody respects Marines more than I do.

Corpsmen, as a rule, are compassionate people. Most, like me, chose that work because they were basically non-violent but wanted to serve by helping others. "Doc" Bradley was the gold standard by which all should be judged.

In this wonderfully researched and written book, James Bradley paints a perfect portrait of bravery, selflessness and character. His father's strength and wisdom shines from every page. "Doc" Bradley is smiling down on his son.

That said, I wanted the point of this blog to be how politicians have not changed since time began. About how arrogant and selfish they are. About how corrupt they become when power seeps into their souls. But I'm going to do that blog tomorrow because after reading the first paragraphs, I want this one to be a positive tribute to "Doc" Bradley and all the Corpsmen who have served and sacrificed. I want this one to be a tribute to the United States Marines who served, suffered and died so I could have the freedom to write it. I want this one to be a tribute to all the military people who have served and are serving. Please remember one thing: the men and women who risk all don't make policy. They are the pawns in the monster's chess game.

The Problem With Foley - He Does not Fit the Stereotype


OK. Foley is creepy. Good thing he resigned.

But, the worst thing about it is that he is a Republican. Republicans claim the morality high ground, "vote for us or you go to hell". They want to defend marraige. They want to put criminals away forever. When they do something, they should face the same. Hang 'em high.

On the other hand, Democrats are more sympathetic. They know everyone has faults and want to forgive and rehabilitate. While a Democrat who stumbles (or gets a blow job in the oval office) should pay, I have more sympathy when they fall.

But, God forbid a Democrat should be a racist or a misogynist. That is their anti-thesis. These Democrats should be voted out of office. So, the Republicans have glee when Gore drives an SUV.

On the other hand, we kind of expect Republicans to be unsympathetic, rascist, women haters. So, when Allen turns out to be a racist, don't be too angry. Sure, he should not be a Senator, but what did we expect.

In other words, when a politician is a hypocrite, it is bothersome. And, Republicans have, to coin a phrase, a bigger cross to bear because they have hoisted themselves on their own petards (wow, two cliches in one sentence).

We have stereotypical views about those in our parties. I truly wish that fundamentalist Christians would live the life that I believe Jesus would like them to live. But, if they are like Bush, I am afraid that is not to be.

A Victory For Freedom?


OK, I have listed ways we are losing our freedoms and Al Quaeda is winning. It is only fair to show that the free world is coming back.

I received an e-mail the other day reading that British Airways is allowing carry-on luggage again. That is coupled with the TSA announcement that we can carry toothpaste in our carry-on luggage.

Small steps. But, we have to take things where we can get them these days.

We will have won the war on terror, with respect to airlines anyway, when we can get back to the concourses without having a ticket.

How Bin Laden/Al Qaeda is Winning the War on Terror IV


Just read the article on how the new HQ for Iraqi policemen is a shambles because it was built poorly, with millions of US dollars.

Let's be clear. We are NOT losing this war because the military is doing everything right. We are losing in spite of it.

Under Rumsfeld, it is true that the military has become smaller. But that does not mean there are fewer Americans (or American-paid workers) on the ground. They just have been outsourced.

I guess it is a debate as to whether the military or the private sector can do things better.

I bet, had the US Army engineering corps (not the Corps of Engineers) been sent in to build the HQ, it would have been constructed well.

How Bin Laden/Al Qaeda is Winning the War on Terror III


I had meant for this to be a periodic series based upon interesting news. But, it is coming fast and furious.

Now, three generals say Rumsfeld is incompetent.

Perhaps the title should be How Bush Is Losing the War on Terror. But, no, I will keep it as is. Nevertheless, since the capture of Baghdad, Bush has continously succeeded in snatching defeat from the jaws of victory.

How Bin Laden/Al Qaeda is Winning the War on Terror II


Now we learn that the war on Iraq has increased<\b> the danger to the US.

Not quite what Bush planned. On the other hand, it is unclear that Bush actually planned anyting.

What is happening with the Cabinets?


Wow.

First comes coalition authority (via the Washington Post)

Then the department of agriculture from the IG.

Then the department of education from the IG.

Then the FDA from a watchdog group.

Bam.Bam.Bam. And right in the middle of election season.

One can forgive the FDA, I guess, because it involved actions resulting from legislation in 1992. But the other three? No excuse.

These Republicans sure know how to govern....

How Bin Laden/Al Qaeda is Winning the War on Terror


This is my first posting on how Bin Laden has won the war on terror.

First, the issue, what are/were Bin Laden's goals? The answers, perhaps

1. To cause the US government to take away freedoms of its citizens.

2. To cause Americans to turn on each other due to fear of another attack.

3. To interrupt the western culture.

4. To strengthen terrorist resolve and his brand of Islam.

My goal is to look at the news and document how Bin Laden or Al Qaeda is winning this war.

Our goal should be to do what we can to keep our essential freedoms and not to give up our culture, simply because Bin Laden wants us to.

First in the series:

The ban on handbaggage on international flights. This is very inconvenient, but innocuous on its face. But, it is impacting our culture.

Today, NPR documented how the ban is preventing musicians from traveling. Specifically, musicians insist on carrying their instruments with them (a prudent move when your instrument is a 300 violin, I would say).

Sore: Bin Laden 1, US 0

For or Against Iraq War?


There were many reasons to be for a war in Iraq. But there were only a few reasons to oppose it:

1. You are against all war (that is not me).

2. You were against this war because Bush lied (again, not me, Bush had not been proven to lie that much in March 2003 and I was still on the 9/11 patriotic thing).

3. We could not win the way Rumsfeld proposed to fight it. With minimal troops, a small coalition, and no plan. This was me.

In March 2003, I thought going into Iraq was not a bad idea in theory. But, when adminisration officials said it would be a cakewalk, I cringed. I knew, just knew, that we wouold be in there a long time. Sure we would win the war, but there was no plan for an occupation.

Boy, was I right. The NYTimes today is an example. Strained Army Looks to the Guard for Relief.

Laffer


In the Corner, Larry Kudlow misrepresents the Laffer Curve solely as a theory that lower taxes will result in lower taxes.

While that is part of Laffer's theory, as I understand it, it is not all. Laffer's point was that the tax rate affects revenue, such that taxing 100% or 0% will result in no tax revenue and that the maximum revenue generation is somewhere in between.

A legitimate argument for Kudlow to have made is that Bush's policies seem to have moved us to a point on the revenue curve that is more efficient.

What it does not mean (assuming that the tax cuts are the only reason behind increased revenues) is that more tax cuts will lead to more revenue or that fewer tax cuts would lead to less revenue. All it means is that we are better situated on the Laffer Curve than before.

If we could only get that damned government spending down, Bush might have done one thing positive for this country.

O'Beirne


Apparently, Ramesh Ponnuru does not like some of the stuff on TPM. Oh, well.

First, he engages in ad hominen attacks on another blogger. Faux pas for someone who fancies himself an intellectual.

In any case, he must know Mr. O'Beirne. How about arranging for an interview of him to explain exactly what he did do at DoD.

And, a 29 year old in charge of a country's finances? Well, I guess it is ok, but there aren't many billion dollar companies out there that would hire a 29 year old to do the job. And to suggest that there were not more qualified government employees willing to take the task is a joke.

Why should we believe Ramesh? He, apparently, is relying only on his personal contacts from the person accused. As any prosecuter knows, the only person with an incentive to lie is the accused. Again, send out an investigative journalist to see what happened, if you do not trust the Post.

And of course, Mr. O'Beirne did not respond to the reporter, so we have no idea what he thinks, except, perhaps from Ramesh's reports (which are non-attributable).

And a 24 year old to reinvent the stock market? Again, couldn't you find a more experienced trader to do the job?

The bottom line is that I might hire one of these two to run my $300,000 a year business, but to run even a multi-million dollar company, I would think twice and, if a 29 year old was hired to run a billion dollar company, the board of directors would be run out on a rail (unless her name was Paris Hilton, maybe). Nothing against her, but I just cannot see how she could possibly have been qualified for the positon, unless she was a savant. Further, good for her getting the job. It is a feather in her cap, as it is for the young man.

And then K-Lo gets involved, defending the selections. Maybe it is a coincidence, but how do two reporters for such a distinguished magazine happen to know at least three of the people involved in the article (out of 5 attacked)? Sounds suspicious to me.

The bottom line is that I doubt NRO's defense. They are defending their own, which is admirable.

But, as I said in a previous post, I really would not give a damn, had these people done a good job. If we are going to fail in Iraq, we should at least put out the first team. Not the lapdogs.

katall

user-pic

Following:
Followers:

Posts
Comments & Recommends


Favorites

All Reader Posts
How to use myTPM

Advertise Liberally
Share
Close Social Web Email

"To" Email Address

Your Name

Your Email Address