Penny Wise, Pound Foolish

Here is a deal, we can borrow some money to protect us from losing trillions in wealth, doubling unemployment, and causing millions in the third world to die from lack of medicine, infrastructure, and food.  We obtain assets worth several times what we pay for them, and be able to resale them at our convenience to make the most off of them.  Who wouldn't favor that type of deal? People who oppose the financial rescue plan can't get stuck in opposition.  They risk being penny wise and pound (dollar) foolish. Something needs to happen and happen soon.  I am not unhappy that it failed, but we will all be unhappy if we don't get a new bill passed soon.  It did not address deeply enough the problems I wrote about in February.  We need to address the underlying issue by allowing people to lock in their arms at fixed rate no questions asked.   We need to allow the value of the mortgage-derivative securities Read more

Fiscal Conservatives prevail – House rejects $700 Billion bailout

Fiscal conservatives from both parties come together and acted as adults.  You do NOT rush through a package that literally puts in jeopardy our system of government.  Once again our strength as a nation shows faith in the quote I have held so dearly. “Remember that there is nothing stable in human affairs. Avoid, therefore, undue excitement in prosperity or undue despair in adversity” -Socrates (5th Century B.C.)

Missed opportunity

Sen McCain missed his biggest opportunity to separate himself from President Bush, and he has no one to blame but himself. When news came that he was suspending his campaign to go back to Washington to deal with the Bush administration bill, I for one felt it was the right thing to do.  Of course McCain (and Obama) needed to be there, to discuss and vote on a major piece of legislation. The fountain of information regarding McCain's reason for going back, came in a slow drip.  It took me a while to figure out what he was doing there.  Was he there to promote Bush's bill as is or oppose it?  I soon learned he was there to promote it.  That was a fatal position for the would be President. On the other side of the building, the Congressional Republicans recalled their promises, the reason most were elected in the first place, to oppose big government programs.  Either McCain didn't Read more

Wait a second Jack

This week the state GOP chairman Tom Ross brought up an old lawsuit by Nextel shareholders in which they successfully sued the company for puffing up the stock price. As an example, the public was told that Nextel was on the verge of obtaining 400,000 digital subscribers and got all of 15,000 that year ( wall-street-journal-nextel-article). Mr. Jack Markell and some insiders sold a lot of stock at its high, just before the real numbers came out and dropped the stock price by more than 70%. Interestingly, in both the News Journal and the State News Mr. Markell claimed the suit was dismissed and this was nothing but GOP dirty politics. Wait a second Jack, it appears only 4 of 201 paragraphs were dismissed and he remained a defendant. The company's insurance carrier ended up paying 27 million dollars. I don't know the entire story, but Jack Markell's over reaction and over reaching denials Read more

The difference

Reaction to Crisis - According to Obama, Gov Jindal could have gone to the Republican Convention and had others take care of things. Update:CNN- Lawmakers from both parties in House, Senate say they have bailout deal; will take it to Treasury Secretary Paulson Note: I believe only one of the candidates for President was in DC while this got done Read more

Delaware businesses should take the lead

Home Sweet Office:  Good for Business, Employees and Planet  By Brendan I. Koerner "Ever since OPEC vexed Jimmy Carter into wearing a cardigan, telecommuting has been touted as a fix for what ails the US office worker — the agony and expense of commuting, the drudgery of cubicles, the shortage of family time. Two decades later, however, most workers still trudge to the office. Though a third of the more than 150 million working Americans telecommute at least occasionally, most do so just a few days each month. Only 40 percent of companies permit any sort of work-at-home arrangement, which means most insist on full-time attendance. According to a 2006 survey by the Telework Exchange, the top fear among resisters is that they'll lose control of their employees, whom they doubtlessly envision frittering away the hours between 9 and 5 playing Minesweeper and munching Cheetos. Telecommuting's Read more

15 People the next President should listen to

Great article in Wired Magazine; I will post at least 5 of these folks between now and the election. # 1. Parag Khanna: Embrace the Post-American Age - Full profile here Highlights:  In his book The Second World: Empires and Influence in the New Global Order, Khanna, 31, describes a planet dominated by a trio of superpowers: the US, China, and Europe. In this tripolar era, America's fate depends on tough national choices, not lame historical analogies. If the US wises up — by tightening trade and energy ties to the rest of the hemisphere, pursuing economic innovation at home, and establishing a "diplomatic-industrial complex" — it can grow stronger even as the globe becomes less red, white, and blue. 8 Regions to Watch Mexico and Canada Integrate, don't isolate America's oil comes from a volatile region half a world away. That's lunacy, Khanna says. "An energy partnership with Read more

Former President Bill Clinton says it like it is

You have to admire his rational and honest answers – “Voting is a complicated process,” the former president said. “We give our allegiances to candidates and parties and issues for all kinds of reasons. We vote for some people because we like them even though we disagree with them. We vote for some people because we identify with them on race or gender.” “It’s not an entirely rational process and it is different for everybody.” Watch video of Clinton Interview

Holy Crap! Ba-LING BLING (redux)!

UPDATE on Friday, Sept 19th... These are numbers I pulled around 2:45PM...looks like the rebound is on, but I'm concerned it's built upon a foundation of straw. US Treasury Bonds Rates Maturity Yield Yesterday Last Week Last Month 3 Month  0.82    0.05      1.39      1.63 6 Month  1.37    0.61      1.74      1.84 2 Year   2.09    1.64      2.20      2.24 3 Year   1.99    1.55      2.06      2.10 UPDATE on Thursday, Sept 18th... These are numbers I pulled around 1:30PM....  US Treasury Bonds Rates Maturity Yield Yesterday Last Week Last Month 3 Month  0.01    0.01      1.55      1.72 6 Month  0.52    0.69      1.80      1.90 2 Year   1.33    1.56      2.21      2.29 3 Year   1.23    1.41      2.07      2.15 Look at those rates in the change periods from last week to yesterday Read more

delawaredem’s HATE Again Shines

Remember my post on delawaredem's HATRED of all Republicans?  After relentless badgering, he relented his hate-inspired stance.  Um, he qualified it in that some of his best friends are Republicans. Where have I heard that one before? Well, his unchecked anger is at it once again.  Remember that he is in a profession that requires an enormous amount of care to parse words both of what is said by one party and of what is said from his own mouth. Go ahead and read his rant in its entirety (it's only fair to tell you he attempts a point, but unhinges it with his rant highlighted below), but here are Sir Wordsmith's words from his phrase that pays: You (Republicans) should all be round up and shot. Seriously. I am now convinced delawaredem can't help himself. Aside from his token Republican friends, his pattern is disturbing. Read more

Obama’s message is resonating

You can choose to ignore the obvious, I choose to confront it.  The following is a result of the Rev Wright rants, and Obama's disregard for all things patriotic. NBA star disrespects national anthem - "When the national anthem is being sung, various participants are shown mugging for the camera. When the camera gets to Howard, he says: " 'The Star-Spangled Banner' is going on. I don't celebrate this [expletive]. I'm black." Howard goes on to make a difficult-to-discern comment that includes a reference to Democratic presidential candidate Barack Obama." Full Story Note:  ESPN displayed the Barack Obama reference as "Barack Obama '08, Barack Obama '08" Obama during National Anthem Video Read more

Paper for Federal Reserve Bank of St. Louis Asks Is U. S. Bankrupt?

Should this be the central issue of the campaign instead of who uses email or what pig wears lipstick? What are your thoughts on this report,please? Is the United States bankrupt? Many would scoff at this notion. Others would argue that financial implosion is just around the corner. This paper explores these views from both partial and general equilibrium perspectives. It concludes that countries can go broke, that the United States is going broke, that remaining open to foreign investment can help stave off bankruptcy, but that radical reform of U.S. fiscal institutions is essential to secure the nation’s economic future. The paper offers three policies to eliminate the nation’s enormous fiscal gap and avert bankruptcy: a retail sales tax, personalized Social Security, and a globally budgeted universal healthcare system. Federal Reserve Bank of St. Louis Review, July/August 2006, Read more

Jud Bennett and His Primary

Why GOOD people like Jud Bennett Won't Win Primaries He does not bend his principles.  Jud Bennett is indeed a Republican, despite the derogatory labels, such as RINO, that have been lobbed in his direction.  On a most-local issue, growth management in Sussex County, Jud stands, convicted in his belief, against a progressive growth strategy.  Unfortunately, the Republicans that are supportive of progressive growth strategies used their abilities to accuse Jud of being liberal or socialist.  Interestingly, many residents in Sussex County recognize Jud as a conservative, especially in growth strategies.  This flies in the face of what those supportive of progressive growth claimed about Jud. So, what went wrong?  Those that recognize Jud as a conservative growth strategist, unfortunately, don't vote in Republican Primaries.  For the most part, they aren't registered Republicans.  Read more

David Petraeus: Hard isn’t hopeless

If you have forgotten what leadership is, look at General Petraeus. Hard isn’t hopeless. With that he stuffed his ears to the voices of defeat and went to work. He restored the morale of our military and won a chance for Iraqi’s to fight for themselves. The Washington Post calls it the Petraeus Miracle. He deserves credit, but so do all of the Americans (including leaders like Bush and McCain) who put their shoulder to the burden, prayed for a breakthrough of peace, and supported our troops when it didn’t look good. Victory doesn’t come to the weak minded. It goes to the determined. Thank you General for reminding us of the strength of America. May God give you continued grace in your new command.

Happy Constitution Day

221 years and we are still going strong.  I encourage everyone to read the Constitution today.  (http://www.constitutionday.cc) One encouraging note is that according to Rasmussen, most Americans want judges to base their rulings on the written Constitution, not their own view of justice.  If we could get our legislative and executive following it more closely, we would be golden.

Thank You Elliot Spitzer–You Caused the AIG Crisis

Remember when grand standing NY Attorney General Elliot Spitzer forced out AIG CEO Hank Greenberg over a case most analysts thought lacked merit?  He couldn't even build a criminal case because the evidence wasn't there.  He didn't care.  He just needed an enemy to show he was doing something when he ran for governor.  The result is the once premier company is now run into the ground.  Remember that lesson when you call for government to criminalize business decisions.  The bill will come due. In a sign of the tensions at AIG, former chief executive Maurice R. "Hank" Greenberg -- whose 11 percent ownership of AIG has lost billions of dollars in recent weeks -- sent a scathing letter to Willumstad. "Despite repeated assurances from management and the company that everything was under control, it is now clear that nothing was under control," he wrote. "Since you became Chairman of AIG, Read more

Dallas Mavericks’ forward Josh Howard On The National Anthem

From article 3592734 on espn.com:
‘The Star-Spangled Banner’ is going on. I don’t celebrate this [expletive]. I’m black.
Because I believe in the Constitution more than the White House Administration does, I am OK if Josh has contempt for our National Anthem.  Hell, I even thought Ted Turner had a good idea about making it more time-relevant and wanting it to be changed to “America, The Beautiful.”  Ray Charles version, please.  Anyway, it’s not his contempt that irks me, it’s the reasoning.  Josh certainly left volumes open to interpretation here, but I can’t imagine any of it being positive.

Copeland Details Plan to Assist Veterans Who Create Small Businesses

"Encouraging small business creation is the key to getting Delaware's economy back on track", said Copeland   Wilmington, DE – Candidate for lieutenant governor Charlie Copeland today released a plan to assist Veterans who create small businesses in Delaware.   "It is no secret that small businesses are the backbone of our economy and our main job creators. My plan to assist Vetrepreneurs will spark economic and job growth, and assist the many Veterans in Delaware in their business ventures."   Copeland's plan focuses on three key areas:   State grants to assist returning veterans in starting their own small businesses Funded through the state's Strategic Fund DEDO will allocate personnel to assist in challenges faced by veterans in becoming entrepreneurs Begin reporting of veteran-owned entities just as is done for woman-owned and minority-owned businesses Exempt veterans pensions Read more

Our Magic Piggy Bank

I heard it on the radio news.  Taxpayers are bailing out AIG.  It turned out the Fed(Federal Reserve Bank)  was bailing out AIG.  That is a big difference.  The fact that even the news reporting can't get this right concerns me.  The truth is today, America may have become a temporary corporate state.  We are seeing the economic power of America consolidate in the hands of a few planners who have government power to print as much money as they see fit. In 1913 the United States established an Independent central bank system called the Federal Reserve System headed by the Federal Reserve Bank and its politically appointed board of governors with banker appointed members of the open market committee.  It was established to put professionals in charge of monetary policy.  The Treasury Department had shall we say varying degrees of success. The Federal Reserve by law is charged Read more

Prediction Thread: Most Mud-Slinging of ’08

I was wondering this morning about which Delaware campaign will dig the deepest and sling the most mud.  Statewide or local, there will be at least one that will resort to bitter nastiness, there always is. For fun, I am curious about everyone elses’ take on this.  Which election do you think will take that turn downward and leave bruises upon each of the candidates’ faces? I will start the thread with comment #1.

Wow local guy on Leno!

The National Barack Company (NBC) is scheduled to have one of my favorite Democrats, Beau Biden on tonight–Sept. 16.   I always love to see local people get positive attention.  I wish AG Biden well, but not too well on his appearance.