John McCain is the new Barry Goldwater? May 30, 2008
Posted by baxtersbrother2 in Election 2008, Gay Rights, Inspiration, Social Discourse, US Government.Tags: Barry Goldwater, Democrats, Fawell, Gay Rights, Libertarianism, McCain, Republicans, Sandra Day O'Connor
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There is a delusional article from The American Spectator that believes that John McCain is the New Barry Goldwater. This is too far from the truth. McCain assumed Goldwater’s Senate Seat in 1986. The article goes into length about how in 1981, Goldwater was a curmudgeon who had to offer and to the present day, McCain is in that role. Also, it was shown that Goldwater was pro-life.
However, Barry Goldwater was alot more tolerant than John McCain currently is. In 2000, his belief that Pat Robertson and Fawell were “agents of intolerance” was very positive. Barry Goldwater was for Gay Rights, had members of his own family who were gay, and was accepting. One of the best quotes is “You don’t have to be straight to be in the military; you just have to be able to shoot straight.” Goldwater was a libertarian of the west. He had a definite western appeal.
Barry Goldwater supported Sandra Day O’Connor’s nomination to the US Supreme Court without hesitation, while McCain, would probably do what is the best politically. McCain has some great lines though. But Barry Goldwater’s great one liner is a favorite, “Every good Christian ought to kick Falwell right in the ass.” Couldn’t have said it better!
The main difference between McCain and Goldwater is political postering. When concerned about the Religious Rights Influence, Goldwater stood up. “Do not associate my name with anything you do. You are extremists, and you’ve hurt the Republican party much more than the Democrats have.” However, McCain as illustrated in the campaign, only succumbs.
The Bear Stearns Situation, play by play. May 29, 2008
Posted by baxtersbrother2 in Accounting, Economy, Social Discourse, Tax Policy., US Government, Uncategorized.Tags: Bear Stearns, Federal Reserve, Government Intervention, JPMorganChase, Sub-prime mortgages, Wall Street Journal
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There is a very indepth series of articles from The Wall Street Journal that goes into great detail about the failure and “bailout” of Bear Stearns. The articles paint a picture that is nothing short of breath-taking. The beginning of the article has a vision of a trader, confronting the CEO, Alan Schwartz, and asking “How could this happen to 14,000 employees?” “Look into my eyes, and tell me how how this happened!” This is the 64,000 question.
Many large financial institutions have failed. One, was Drexel Burnham, Lambert, for example. But what makes this interesting is that this is the first time that the Federal Reserve responded.
Bear Stearns had alot of mortgages on their books, mortgages that were defaulting. The risk that Bear Stearns was assuming was great along with the fact that they had a cashflow problem.
Wikipedia explains it well…. As of November 30, 2007 Bear Stearns had notional contract amounts of approximately $13.40 trillion in derivative financial instruments, of which $1.85 trillion were listed futures and option contracts. In addition Bear Stearns was carrying more than $28 billion in ‘level 3′ assets on its books at the end of fiscal 2007 versus a net equity position of only $11.7 billion. During 2007, Bear Stearns had several funds that invested heavily in Sub-prime mortgages, and as the market tanked, the value evaporated. This was noticed in releasing earnings, when it was shown that net profits dropped 61%. Then in November, Bear Stearns wrote down another $1.2 billion. This caused more skepticism of the group, as many other brokerages (faced with their own problems) wanted to not do business with Bear Anymore.
In March, clients were dropping like flies. Cash was disappearing. Bankruptcy was definitely on the table, even though it would decimate the business. Then someone called the Federal Reserve. Then in an act of governmental interaction, the Federal Reserve, in connection with JPMorganChase issued an emergency 28 day loan. 4 days later, Bear Stearns and JPMorganChase agreed to a merger at $2 per share ( which got raised to $10, because of threat of shareholder lawsuits.)
What this blog found interesting was that the Treasury Secretary Henry Paulson was leery. The Wall Street Journal reports that “given the unprecedented level of government intervention in rescuing the troubled firm,& appearing to bailout Wall Street Investors while many were facing foreclosure.
GOT ALL OF THIS…. It is the opinion of this blog that this was a bailout that is unprecedented. The Congress is having a dreadful time regarding the Mortgage crisis, but can scope out a deal over a weekend. It furthers the question of how much governmental intervention is appropriate. There are two schools of thought, one is that Ok, you invested, got over extended, and failed; the second is that this needed to be done, otherwise the economy would have been driven further into recession.
The Bear Stearns situation is a situation that is the sign of the times. The sub-prime and other mortgage crisis not only effected the borrowers whose homes are repossessed, but large institutions as well. However, what is different, is that the government was quick to come to Bear Stearns aid and has been not as quick in coming to those effected by the sub-prime crisis. What is good for one, should be good for the other. Many, Many people lost billions of dollars because of the situation and there is empathy. The true effects will be felt for many years to come.
Someone leaves Working at the White House, and Guess what, They wrote a book! May 28, 2008
Posted by baxtersbrother2 in Election 2008, Iraq, Just Ranting, Military, Resources, Social Discourse, The press, US Government.Tags: books, Bush, Bush Administration, Election 2008, George W Bush, Iraq, Karl Rove, Press Secretary
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Today, there is alot of talk that Former Press Secretary Scott McClellan has a tell all book that is to be published soon. This book apparently goes into great depth about the Bush Administration. Here is what NPR is saying. One of President Bush’s counselors is indicating that the book is “total crap.” That is posted on CNN. The White House is “puzzled.”
In the book, McClellan has said “I had allowed myself to be deceived into unknowingly passing along a falsehood,” he wrote. “It would ultimately prove fatal to my ability to serve the president effectively.” Also, he said, “One of the worst disasters in our nation’s history became one of the biggest disasters in Bush’s presidency,” he wrote. “Katrina and the botched federal response to it would largely come to define Bush’s second term.”
Ok. this was not a posting on Daily Kos. It is so shocking!!!!!!!!!
Here is this blog’s opinion about this. The phrase total crap can be used, but not as one of President Bush’s former advisors have indicated. I think that Scott McClellan publishing this book is total crap. Now I have not read the book, but there are parts of it that are the typical sleeze tell all. It is in the paradigm of what the publishers want. Follow this:
Bush === Bad
Iraq=== We were lied to because of the Bush Administration
Karl Rove===Evil.
Now, I could have had some left-wing blockers write this. Now, I am NOT a Bush Fan and think that his administration has been a failure. But it is awfully Damn convenient that this happens now. Like sticking a card in the ATM. Scott McClellan’s press conferences were one of the most arrogant things I have seen. My question is this, if it was so bad, why didn’t he quit? Can’t come up with an answer. Like I said, it is total crap.
Mrs Schlafly and Washington University May 19, 2008
Posted by baxtersbrother2 in Election 2008, Resources, Social Discourse, Uncategorized.Tags: Commencement, ERA, Feminism, Phyllis Schlafly, Washington University
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Oh Lord, it is commencement speech time again and dreadful person Phyllis Schlafly was to be awarded an honorary doctorate on Saturday at Washington University. In response, half of the graduating class turned their backs and many faculty just walked out.
Here is the Youtube:
She is quite frankly, very dreadful. However, as a massive protest, it appears that the Graduating class of 2007 is attacking a “little old lady.”
She did campaign heavily against The Equal Rights Amendment in the 1970’s which seems distant now. Now People are making strides in equality. Some may view her as quite libertarian. America do not believe it!
Some of the things that have been said are from La-La Land or something. Check this out…
- By getting married, the woman has consented to sex, and I don’t think you can call it rape.
- People think that child-support enforcement benefits children, but it doesn’t.
- Men should stop treating feminists like ladies, and instead treat them like the men they say they want to be.
- And the first commandment of feminism is: I am woman; thou shalt not tolerate strange gods who assert that women have capabilities or often choose roles that are different from men’s.
- ERA means abortion funding, means homosexual privileges, means whatever else.
Got that. It is just bizarre, and she does have the right to her opinions, but when there is a platform, where she is given substantial influence about American discourse, it causes concern.
However, given the actual situation at Washington University, it is surprising that Mrs Schlafly was granted an honorary doctorate. Her views are outdated and quite frankly, do not represent much of the American discourse. If ordinary people state the comments that are listed above, then they would isolate their friends and family quite quickly. It may be a symbolic measure to grant someone who has had influence ( Which Mrs Schlafly has had), but it is symbolism, not substance.
A movie of Interest May 17, 2008
Posted by baxtersbrother2 in Economy, Social Discourse.Tags: Netflix, The Credit Card Industry
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Over this weekend, I saw “Maxed out” on Netflix. This is the official description on the Documentary:
Investigating both the personal and the national debt owed by Americans, this thought-provoking documentary explores the staggering financial burden we live with every day and exposes how the contemporary financial industry is set up in ways that can harm unwitting customers. With both sobering facts and black humor, Maxed Out unveils the consequences of our debt addiction, including its contribution to the vanishing of the American middle class.
It is definitely eye opening and sad to see.
The Farm Bill, The Farm Bill, The Farm Bill. May 16, 2008
Posted by baxtersbrother2 in Fiscal, Just Ranting, Social Discourse, Tax Policy., US Government, Uncategorized.Tags: Farm Bill, Farmers, Farming, NYTimes, President Bush, Senate, US Congress
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Once every 5 years or so, there is a package from the US Congress that is commonly called “The Farm Bill.” Typically, the farm bill contains agricultural programs for the nations farmers and Food Stamp money for the nations hungry. As illustrated in the NYTimes, even though it is a bi-partisan bill, and almost veto-proof, President Bush should veto this bill. The present package is a $307 billion dollar package that is full of pork for very wealthy farmers who are benefiting from the Ethanol revolution and increases in Net income. In the fine details, there is tax breaks for racehouse breeders in Kentucky by Senator McConnell. They pay the farmers not to farm!! If they are farmers who do not farm, what are they?
Also:
- Continues to subsidize millionaires. Currently, all full-time farmers may be eligible for farm subsidies regardless of income (part-time farmers must earn less than $2.5 million annually). President Bush reasonably proposed limiting farm subsidies to those who earn less than $200,000 a year.
- It pays people to farm dirt or do not farm at all! Here is a article from The Washington Post.
- It goes to school nutrition programs which I think is great. However, many of the school programs are corporate run, and they are feeding the children garbage with sugar that is creating a bigger obesity crisis.
- Many of the farmers do not like the bill and believe that it is fraud. The Grand Island Independent reported the passage of the bill and how Senator Chuck Hagel voted against it. “We must reconnect our policy to its original purpose: providing a true safety net to real farmers when they need it most, while limiting government involvement in producers’ decisions,” Hagel said.
- Senator Chuck Hagel also said “It will continue to distort land valuations and inflate food prices, while jeopardizing our trade agreements,” he said. “We need a farm bill that significantly reforms our current policy. Agriculture is far too important to Nebraska and America for it to continue on such a misguided path.” As a person who has traveled thru Nebraska at 100 mph, I completely agree.
- Fewer than half of America’s farms benefit from our current farm policy and nearly 66 percent of farm payments go to only 10 percent of producers. It is unwise and wrong to continue these policies. The real farmers and taxpayers lose. The big guys win.
- The average food stamp receipts receives an average $1.10 per meal. That is it. At the local Safeway, you can barely buy a box of Mac and Cheese for that price.
Regardless of ones political philosophy, WE DESERVE BETTER!
Isn’t Biden Cute? May 15, 2008
Posted by baxtersbrother2 in Election 2008, Social Discourse, US Government.Tags: Barack Obama, Democrats, Iran, Iraq, President Bush, Senator Biden, Terrorism
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Senator Biden is keeping it real again in this posting calling President Bush’s comments accusing Sen. Barack Obama and other Democrats of wanting to appease terrorists “bullshit” and said if the president disagrees so strongly with the idea of talking to Iran then he needs to fire his secretaries of State and Defense. Why couldn’t they use words like that before other conflicts?
Ta Da! Gas has hit $4 a gallon… May 14, 2008
Posted by baxtersbrother2 in Economy, Election 2008, Energy Crisis of 2008, Iraq, Oil Prices, Social Discourse, The press, US Government.Tags: ANWR, Election 2008, Family Values, Federal Gas Tax, Fuel Additives, Gas Prices, Heritage Foundation, NY Times, President Bush, refineries, Rush Limbaugh, Strategic Petroleum Reserve, Wall Street Journal
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In connection with the last post, and what I saw on my way home, I thought that I would blog on an issue that is effecting families everywhere. The high gas prices are effecting food prices and of course discretionary income. This is ridicious to say the least. There are proposals everywhere, and this posting will go thru each proposal.
- Temporarily repeal the federal gas tax. A post on this blog goes into great detail about the case for repealing the Federal Gas Tax.
- Determine what is correct verses what is not. A post, confronts Rush Limbaugh regarding comments today about casting blame.
- Examine the issues regarding refineries. It sounds rational but NO OIL companies put up plans. Where does this blogger comes from it is called put up or shut up. As per an article from Money, that has not happened. Furthermore, it is based upon What the refineries are producing/focusing on. Another article goes into detail regarding this issue. Then further, there is evidence that it is because of refineries failures that drive up the price of gas. Review the NYTimes Article for details. An article from the Reason Foundation goes into detail that plays devils advocate. However, this posting is when Oil was $70 a barrel. Today, Oil Closed at $124 per barrel. The article is 3 years old, so the price of Oil has gone up 15% per year over the last three years or 45% overall.
- Determine fact from Fiction. OK regardless of your views on Global Warming ( It does exist), there are reasons why Gasoline Additives are added in the refining of Gas. Most Plainly, it is so people can not see the air that they breathe. However, it is ironic that every time gas rises, there is an instant call for the removal of ALL Additives from Gas. The additives are a part of an EPA Mandate for the Clean Air Act of 1973. There is a direct article from the Christian Science Monitor that addresses this question directly.
- Demand for Fuel has skyrocketed. If you can walk, do it or combine errands.
- Ok the next point takes some explanation. The Strategic Petroleum Reserve is the largest emergency supply in the world with the current capacity to hold up to 727 million barrels (115,600,000 m³) of crude Oil. As prices were rising dramatically, The US Government was adding to the reserve!! Yes Ladies & Gentleman, the crude that the US consumer is demanding be put into gas, the government is taking and putting into the reserve. So, the Government is actually hurting the consumer by increasing demand, and thus price! It is considered a first line of defense. A whitepaper goes into much more detail regarding this. There is sharp opinions regarding the opening the reserve. Heritage Foundation believes that this would be a mistake. The Christian Science Monitor remains neutral. This bloggers opinion is the same as demonstrated from The Wall Street Journal. Open the damn reserve already!
- My favorite point of debate, INCREASE fuel standards. God I like this one because it is so an issue of personal ego. OK. In the 1990’s we did not give a damn about fuel standards, but now that Energy is a problem, it is priority. If done at once, it may be a complete blow to an already struggling auto industry. If we modify standards, it needs to be done strategically, and would help better the auto industry.
- Open ANWR. Oh this is my favorite globally. There has been something so hotly debated, but little known. The environmentalist believe that this would be a global disgrace. People who believe in drilling do not see an issue. However, this has been an issue since 1980!!! There has been one report that says that there is oil there. Other than that, it would be a crapshoot. There are new technologies however, that make oil drilling more intrusive. President Bush and Senator Kay Bailey Hutchinson have been long advocates of drilling. There is a website that is very well put together that is very Pro-Drill. Other sites, suggests the contrary. MSNBC has an article that indicates, that there will be little impact. However, as a person who appreciates the outdoors, I would hate for the environment to be destroyed.
We need leadership and actual solutions. If we can not have our leaders be accountable, then we need to elect others that are.
Rush Limbaugh on Gas Prices May 14, 2008
Posted by baxtersbrother2 in Election 2008, Just Ranting, Social Discourse, The press, Uncategorized.Tags: Conservatives, Economy, Election 2008, Gas Prices, Hurricane Katrina, Just Ranting, Rush Limbaugh, Social Discourse, The 1990's, The press
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Ok, I thought that I would have a great title, but I will just say this: RUSH LIMBAUGH IS A BIG FAT LIAR!! Yes, Ladies & Gentleman, the most self-obsessed drug addict is on a role today. Though condesending, Keith Olbermann was on a role when he called him “Comedian Rush Limbaugh.” What is got me on a role, He said that:
“gas prices didn’t start going through the roof till [Democrats] took over the House in 2006″
Can you believe this crap? As a person whose employment was precarious over 4 years noticed that right after Katrina, gas prices soared. The Audio is on the Media Matters site. He was quoted as the most influencial conservative commentator. MANY of the Oil Rigs were destroyed by Hurricane Katrina! He just flat out lied, and believe in his own mind that he is right, and not only that, some of the comments, I am not going to put on my blog because it could be offensive.
Limbaugh was popular in the 1990’s but he is just yesterdays news. He has said the same crap over and over during his radio career in the same context ( Republicans, OK; Democrats: Evil).
People are in need to be just told the truth. That is all. That is it. No one has been as divisive as him and I can not believe that he is trying to divert blame. It is the same logic over and over again. There is no solution, no ideas on how to change, just ranting. He is not providing anything constructive.
The Daily Polls & the need for a dialogue. May 14, 2008
Posted by baxtersbrother2 in Economy, Election 2008, Social Discourse, The press.Tags: Clinton, CNN, LA Times, McCain, Obama, Polls, USA Today
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For many political junkies, we are intrigued by polls. But today, the polls that have been produced are startling.
First, the most political, 28% of those polled approve of the job performance of President Bush, 71% disapprove, from CNN
Second, an LA Times Bloomberg poll, that indicates that 78% of those polled believe that the nation is in recession.
Third, from the LATimes, 77% believe that the nation is on the wrong track.
However, 4th comparing the Democratic Candidates for President, 46% want Obama, 45% for Clinton.
5th, if there was a matchup between Obama and McCain, Obama would dominate, 47% to 44%.
There are clear indicators that the country is having struggles. That is apparent when you visit the Gas Station, the local Safeway, or talk with friends. Labeling a presidency a complete failure as in a USA Today Poll by 69% of those polled is not happening.
We need to be resilient, dynamic and realize that we can do better. WE not the politicians need to step up.
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