Wednesday, December 30, 2009

Words of Wisdom to Close Out 2009, Or Any Other Year, For That Matter

Cassandra Goldman of 'A Letter to the Times' lends real perspective, and merits a few minutes of our time.

By the way, OldSouth has learned a bunch of these lessons the hard way as well. Especially items 5, 9, 11, 12, and most especially 16... 13, 14, and 18 also are high in the running.

To quote the country song: Don't Ask Me How I Know

THINGS I HAVE WASTED A LOT OF TIME AND ENERGY LEARNING THE HARD WAY
In which I reveal far too much about the folly of my youth.

1. Marry someone of your own class and background. Yes, I know that your DNA and his DNA have identified each other as an excellent fit, and consequently have ordered your hormones and his hormones to make beautiful music together. This will not help you five years down the road when you are having twenty trivial, insoluble and increasingly acrimonious arguments a day about things like whether paper towels make acceptable napkins or if the fact that you laughed three times during an episode of Friends is sufficient reason that you should endure an hour of the show every single week. The old joke is right: male and female is opposite enough.

2. When people say that in relationships, the most important thing they look for is “a sense of humor”, what they really mean is not that they want someone who has one, but someone who has the same kind as theirs. Two incompatible senses of humor cannot peacefully coexist under one roof.

3. Do not study occultism. Even if there is anything to it – and I think that there is a little – it is not enough to repay any significant time investment. The only exception is if you intend to make a career of telling other people about your useless but hard-won knowledge. It worked for Crowley and Leek. The market is pretty small, though; LaVey spent his last couple of decades on welfare.

4. Traditional notions of the differences between men and women exist because they are accurate. There are a very few people who are significantly gender atypical. If you are one of them, your atypicality will manifest itself with no effort on your part. If you are not, you will spend decades trying to wipe out your natural inclinations and at the end they will still be there. It wastes your time and annoys the pig. Invest your time in an endeavour more likely to succeed, such as completely eradicating dandelions from your lawn.

5. Without wishing to discourage anyone from cultivating qualities such as honesty, integrity, intelligence, and so on, I regret to inform you that unless you also acquire the skills of making a good first impression and displaying the shibboleths that will convince the people around you that you are of their tribe, very few people will ever discover that you have the former. Sure, beings with large brains “should” be able to dispense with all that. Convince the other six billion people on this planet, not merely to intellectually agree with this premise but also to act upon it, and then we can stop pretending to like the same bands as our buddies. (Note: most people will claim that they are above such petty signals. They are not.)

6. Ayn Rand was one of the great minds of history. She did not, however, have the whole story about anything. It just seems that way because today’s so-called “schools” and “colleges” and the MSM have filled themselves with so much poppycock and so well concealed the existence of most of history’s greatest minds (I did not even hear the name “Edmund Burke” until I was in my thirties) that when we encounter the one who they couldn’t cover up, due to those pesky best-selling novels, she seems to be the only person in history who ever made any sense.

7. Do not try to be an atheist. In recent years there has been a spate of books showing that belief in God comes, essentially, pre-installed on our hard drives. (Oddly, many people take this as proof that the belief is incorrect. Do they consider it impossible that the Creator would create us with the means of sensing Him?) Very few people are really capable of disbelieving; we’re just not wired for it. Most of those who claim not to believe actually spend a lot of time and energy trying to convince themselves that God does not exist. And since this disbelief is unnatural to humans, it tends to do nasty things to one’s temperament. Admit that He’s there and get on with your life.

8. While we’re on that subject, organized religion is, in fact, a good thing. If you want, you can say otherwise between the ages of 15 and 21; it will impress other people who are also between the ages of 15 and 21. After that, oh good grief read a history book. There’s way more to “organized religion” than the Inquisition. A lot of people much smarter than you have spent many centuries building up the organized religions. That these organizations have lasted so long is a pretty good indication that they’re on to something.

9. People who are mean in trivial little ways are probably also going to be mean in big important ways. If they only use their moral code in emergencies, it’s going to be rusty and unreliable.

10. Don’t eat too many carbohydrates. Limit your sugar and caffeine. Don’t try to limit your fat intake. (See Gary Taubes for why.)

11. If someone lies to you, or rewrites the history the two of you share, run. No matter how sincere and reassuring the talk the two of you have is, he (or she) will do it again.

12. Don’t try to rescue people, except from literal physical danger. People who beg you to “save” them are actually just hoping you’ll give them some company in the pits.

13. The fact that you have never fit in does not automatically confer virtue upon others who also have never fit in. They may be perfectly nice but awkward persons like yourself, but it is statistically more likely that they are speed freaks who are on the dole in between paying gigs of marginal respectability. Such people can be extraordinarily charming if you are not superficial enough or sensible enough to flee them on sight. (See #5; those instincts are so deeply ingrained for good reasons.) It is how they survive.

14. Don’t go to a therapist, and especially don’t let them mess with your biochemistry with medications (unless you are hallucinating or genuinely close to killing yourself or someone else). For one thing, psychologists and psychiatrists have spent years having their heads intensively crammed with mountains of the most absurd nonsense. For another, they go into that field in the first place because they are more screwed up than you will ever be and are trying to figure out why.

15. Smart people are not necessarily more ethical than stupid people. There is limited correlation, because higher intelligence goes with a greater future time orientation, so smart people count consequences more, but a lot of the time smart people just figure out sneakier ways to harm others.

16. Never assume that anyone else has the same sense of honor and fair play that you do. Don’t put yourself at the mercy of anyone else’s ethics. Odds are, they don’t have any.

17. Free love is neither.

18. That which does not kill you will not necessarily make you stronger. Just as likely, it’ll soften you up so that whatever comes next will kill you. Bear in mind that the man who originated that fine-sounding quotation ended his days in a lunatic asylum.

19. Do not attempt to tell any of this to people who have not already figured it out for themselves.

Wednesday, December 16, 2009

The Tale of Detroit--A Cultural Post-Mortem

With news that Detroit's unemployment rate may now be nearing 50%,  I hope this will provide an opportunity for reflection.

Simply, how did this happen? If Detroit were a deceased party on the coroner's cold slab, what would the examination reveal?

What confluence of decisions taken and not taken on the ground in this city, combined with events outside of local control, created this debacle?

What was it about the culture of Detroit, the assumptions everyone lived with, that created such tragedy?

Time Magazine made an attempt of sorts in March of this year, with the unemployment rated listed at 13%.

Are we replicating those conditions in other parts of the country?  In our own neck of the woods? In our own businesses and families?

This is no time to gloat.  It is a time to ponder the past, the present, and the future.

It is time to look in the mirror, all of us, one person at a time, to learn from this tragedy.






The Retailers Have Blinked

The Wall Street Journal wondered out loud on the 10th of December who would blink first: the retailer or the consumer.

It's the 15th, and the retailers have blinked.

Nieman Marcus

Kohl's

Macy's

Coldwater Creek

Sears

Toys-R-Us

If you're in the mood to shop, there's plenty of inventory, and parking.

Of course, if you wait until Monday, there will still be plenty of parking, and the inventory will still be plentiful.

And cheaper.

Another TN Democrat Congressman Flees 2010

Joining John Tanner in the rush for the exits, Bart Gordon looked at a district that had grudgingly returned him to office while otherwise voting overwhelmingly Republican, both houses of the Tennessee legislature solidly in Republican hands, thousands of extremely upset (and motivated) voters who greeted him at his town hall meetings, and the sure knowledge that the wheels are coming off the Obama administration.

He decided to get out while the going was good.

We're making progress here!  Gone is one more creepy guy who tells everyone back in the district just what a conservative man of the people he is, and otherwise generally does what Miss Nancy orders him to do, like voting for climate-change legislation, bail-outs, and any other mischief that gets sent to his desk.

Next!

Monday, December 14, 2009

But On The Other Hand...

Pat Buchanan chronicles the destruction of City University of New York, once a gateway for the best and brightest of modest means.

In D.C., nearly half of all black and Latino students drop out. Of those who graduate, nearly half are reading and doing math at seventh-, eighth- and ninth-grade levels. D.C. academic achievement ranks 51st, last in the U.S.

Yet last week came a report from New York that makes D.C look like M.I.T. Some 200 students, in their first math class at City University of New York, were tested on their basic math skills. Ninety percent could not do basic algebra. One-third could not convert a decimal into a fraction.

If this was a representative sampling, nine in 10 CUNY students not only do not belong in college, they do not qualify for their high school diplomas. As for that third who can't do decimals and fractions, they should not have been allowed into high school until they could do sixth-grade math. 

On the other hand:

The good news imbedded in all this bad news is...


A very well-prepared young person is a joy to admissions committees and academic faculties.

Maths, English, Languages.

English, Maths, Languages,

Languages, English, Maths.

Need to hear it again, Moms and Dads and kids?

Now, get back to work...the world needs competent people, recession or no.

Governor Palin Wins A Round



Hats off to the Governor for not letting a Hollywood gasbag get away with his BS.

He's not likely to try it again...and you notice, she did her recitation from memory!

The Nippert Gift To Cincinnati

In an overwhelmingly generous and unexpected gift, 98-year-old Louise Nippert has placed $85 million of capital underneath the performing arts organizations that have in great part defined Cincinnati as a city.

A deep love of classical music prompted arts patron and philanthropist Louise Nippert to announce a gift of $85 million on Thursday to preserve music at the highest possible quality in Greater Cincinnati.

The Louise Dieterle Nippert Musical Arts Fund will help maintain the Cincinnati Symphony Orchestra as a major, full-time professional orchestra. It also will allow Cincinnati Opera to continue a 90-year collaboration with the Cincinnati Symphony in its pit, and allow dancers to pirouette to live music at Cincinnati Ballet well into the future. It is the largest single gift by an individual to a Cincinnati arts organization and one of the two or three largest ever to a U.S. symphony orchestra.

A classically trained singer who was a soloist in Mahler's Symphony No. 4 with the Cincinnati Symphony in 1957, Nippert has shunned the limelight as a philanthropist. In 1995, she told The Enquirer that her motivation behind charitable contributions was simple: "Giving is enough - you see how it affects everything, and you don't have to sit back and pat yourself on the back."

Did you read that last sentence? 'Giving is enough...'

Giving is enough. No need for publicity, fanfare, the public giving of alms.

Green Shoots Award Finalist, not only for the size, location and timing of the gift, but primarily for the attitude of the donor.

Giving is enough.

Sunday, December 13, 2009

Sunday Evening 13 December--Random Thoughts

The alarm rang early this a.m., but once again, church was worth the drive. Gospel reading was on the Annunciation, we sang the Standford Magnificat in G, sermon was spot on.  I need the reminder that even if the world is in chaos, God is in charge.

One of the joys of the season is XM Radio's Holiday Pops, which we receive via our Direct TV service. The programming is magnificent, inspiring, a real blessing.

One day, not soon, I plan to tell the tale of the journey of a member of the family, one of the finest people I have ever known, through the dark swamp of academia.  He has held up well, but the darkness he has encountered is truly profound. At this point, I can say I now understand why my ancestors considered a journey in a small sailboat across the North Atlantic preferable to continuing to live under English rule. I appreciate Adams and Jefferson more than words can say. I feel keenly for all my dear friends who have to endure present life in the UK and Europe.

If you don't read Jesse's Cafe Americain, I urge you to begin. He brings a moral insight rare in our day.
His link is to the left on the page.

Today's header from Jesse is especially inspiring, a quote from Dickens:

"I have always thought of Christmas time, when it has come round, as a good time; a kind, forgiving, charitable time; the only time I know of, in the long calendar of the year, when men and women seem by one consent to open their shut-up hearts freely, and to think of people below them as if they really were fellow passengers to the grave, and not another race of creatures bound on other journeys."

Have a great week. Hug your family extra good, and make sure they know they are loved.

Remember Gabriel's reassurance to Mary: 'With God, nothing is impossible.'

Cultural Enrichment

Every now and then, in spite of myself, I stumble across a gem.

From Gates of Vienna: The Cultural Enrichment archive.

It's a list of horrors, some well-known, many less so, compiled to chronicle the effects of the Islamization of the West, and our leaders' refusal to confront obvious problems.

I'd usually invite you to enjoy the read. But I can guarantee you won't.

Saturday, December 12, 2009

Are The Buyers Leaving The Room?

Some days, it feels like the same news circulates 'round-and-'round.  My interest is always piqued when two thoughtful sources, from two different spots on the planet, are discussing the same locally occurring phenomenon .

First, Jesse discusses the drop in price/rise in yield of US Treasury securities.

Foreign central banks were noticeably light buyers, much preferring the shorter durations like the three year.

Primary Dealers took a big chunk of the offering. Current trends suggest that Ben will take it off their hands through monetization.

The Fed will be under signficant pressure to buy the bonds as the bias to the short end of the curve creates imbalances that precipitate a funding crisis, and a possible currency crisis, at the Treasury in 2010 if this trend continues. It is unlikely that they will raise rates when monetization is a viable, if not preferred, option.


Short form--the world is getting cold feet about the US's situation, and our ability to produce any manner of prudent leadership to set things straight.  The Beloved Leader's address on the economy, where he declared that we will have to borrow and spend our way out the mess created by borrowing and spending, certainly did not help.

The BBC's ever-droll Robert Peston tells the same tale about the UK gilt.

There's an unmistakeable smell of the 1970s about finance, politics and economics: the City recovering from a banking crisis; a super-tax on wealthy bankers; fears that international investors will stop lending to the British government; excitable chatter about the likelihood of a hung parliament. All we need now is a power cut and I would swear I had been transported back to my teens (if only).

Hmm...the same approach pursued in both countries isn't working, and the marketplace is letting both governments know. They are walking away from the auction, or sitting on their hands if they remain.


In late October 2007, my bride and I made one of our jaunts to the Lawrenceburg Antique Auction, in a county seat just north of the Alabama border.  It has always been a wonderful event, and we've furnished much of the house from it. Vast amounts of wonderful pieces for sale, big crowds, high-rolling bidders--great entertainment, even if we didn't buy much.

October 2007 was different.  Parking was easy to find.  We walked in to a half-empty room, and gloom was in the air. The bidders had not shown up, and the ones there were sitting on their hands.  Many times the opening was met with stone silence, followed by a lower opening, followed by silence. Fabulous pieces were selling for 30% of what they would have purchased a year earlier. We lusted after them, but could not think of where they could fit in our small house.  We ended up buying several small tables, which we did need, enough to fill the pick-up truck, and paid under $300 for the lot of them. I honestly felt badly for the auctioneer. A few times, we and other bidders would raise the paddle just to keep the proceedings underway.  We knew then that something was seriously amiss in the economy.

I wonder if we are now on the front end of the same scenario with US and UK government debt. Congress and Parliament will not restrain themselves, so the marketplace called upon to keep it all afloat has begun to demand interest rates concomitant with the risk they face.

Seriously. Would you bet much money on a government running these sorts of deficits, and occupying its time on how to expand spending via health-care, environmental regulation, stimulus packages, bailouts of both industries and states? 

And a war thrown in for good measure, just to keep it interesting.

It's not the economy, stupid, to contradict Bill Clinton's  Ragin' Cajun.  It's the culture, the one that thinks all of the good things of life should fall into our hands like ripe fruit from the tree, because, well...it's us. We deserve it!

At least we think so.  The world is perhaps beginning to disagree with us.

Friday, December 11, 2009

While Washington Steadfastly Ignores The Mexican Border...

...the Mexicans surely don't!

This evening, CNN's Anderson Cooper will treat us to a tour of one of the tunnels used to smuggle drugs (and criminals) from Mexico to the United States.

Amongst the things Mexican culture has traditionally done well, engineering is near the top of the list. Remember those ancient pyramids, and that highly developed city that Cortez encountered in the sixteenth century? This tunnel is a very slickly designed piece of work, requiring some real design and mining expertise, definitely not an amateur's efforts.

Mexican culture is also known for its imbedded corruption. This could not have happened without the active cooperation of people in some level of authority in Tijuana(and likely, Mexico City). The tunnel is wired for electricity, complete with ventilation, etc. That's no small wiring job, and would be a pretty major consumer of electricity from the state-owned electrical utility. Imagine attempting a similar tunnel under Des Moines, by way of comparison.

This is not another 'Those Bad Mexicans' diatribe. Mexico is what it is, always has been, and likely always will be. In my misspent youth, I worked there for two years, and no news from there can ever shock me.

The problem lies with us, here on our side of the border. First, we have a culture with a huge appetite for marijuana and cocaine amongst recreational users, and heroin and worse amongst the more afflicted.  If we weren't a market here for this bad stuff, there would be no effort expended on tunnels there.

Second, we have steadfastly refused as a nation to enforce the border with one of history's worst-run countries. And both places are worse for it. We can't fix Mexico, 'cuz Mexico doesn't want to be fixed. Even if it did, it's their job to put their house in order, not ours.  In the meantime, we can protect our citizenry from the criminality, corruption and general stupidity that seems to flow inexorably northward.

Why does this matter to us, here in the heartland, specifically?

Last week, in a little town thirty miles south of here, one of the many who made it across the border got himself liquored-up, took to the wheel of his uninsured car, and killed two innocent people by vehicular homicide. The crime took place on a road we and our children often travel. It could so easily have been us.

Had our government carried out its duties, those innocents would be Christmas shopping for their families, the alcoholic Mexican would still be a drunk, but he would be a drunk in his homeland; and the devastated families would not forever face Christmas in the shadow of this needless tragedy.

These tragedies keep happening, and won't stop happening until we summon the will to make it stop.

The culture shapes the economy(and political landscape)...

RBS and the British Taxpayer. Not A Love Story

The BBC's Robert Peston once again weighs in with that English dry humor:

In my wilder imaginings over the years about the future of the public sector, it never occurred to me that one day as a taxpayer I would be financially liable for the overdrafts on 3.2 million UK retail bank accounts, £10bn of loans to British small businesses and a further £10bn of UK residential mortgages provided to 70,000 home owners.

He goes on to detail how the taxpayers of the UK will be paying for RBS into the indefinite future.

It's not pretty.

I wonder if this was assembled in order to be inexorably in place before next year's elections. Brown and Labour must certainly know they are on the way out.

Which raises the next question: What else do they have under their sleeve?

America's Best High Schools

US News and World Report released its list of America's best high schools today.

The list is based on a 'three-step process that examines how well a school serves its entire student body (average students, disadvantaged students, and collegebound students).'

It's an impressive list, not the least for its wide geographic distribution.

The top 100 list is here.

It's an inspiring read.

I get to work with a student in one of the top 30 on the list.  It's an old building, with literally no campus around it.  Students attend based on achievement, and a lottery is also involved.  The level of motivation is very high.  For every student there, there is at least another in the city happy to replace him. Hmm.  No reports of drugs and discipline problems. He thrives there, generally, except that he is so far ahead of the maths program that boredom is a real challenge.

In the general attitude of cynicism towards schools, it's good to be reminded that greatness is possible in unlikely places.  It's not so much a matter of spending money on the latest and greatest physical plant, as it is about building great faculties, and fostering that sense of community that tends to pull everyone along in the right direction.

If what we see here can be our expectations of normality, we're in for great days ahead.

The culture shapes the economy...

Wednesday, December 9, 2009

Neel Kashkari, Poster Child Of TARP

Neel Kashkari has surfaced.


As now routinely happens, some unknown person is thrust unprepared into the spotlight of the world's gaze. He retreats, writes The Book(or more commonly, works with a ghost writer), coaches for The Book Tour, hopefully makes some bucks for his pains, and moves on to the rest of his life.

Sweet.

Remember that out-of-body experience you had when you first heard of TARP, and then read the initial proposal floated to Congress?  You know, the one that essentially turned the country over to the Secretary of the Treasury?

Neel drafted it.

Jesse, linked above, has the story, and some pithy insights to share. I hope you read them.

But here is how the 'priesthood' at Treasury decided that $700 billion dollars was the figure to demand:

In February 2008, Mr Kashkari was charged with drafting an emergency plan in case the credit crunch became a full-blown financial crisis. By October the crisis had arrived and his ten-page plan became the blueprint for the banks' bailout that Mr Paulson presented to Congress.

Mr Kashkari admitted that he plucked “a number out of the air” when deciding with Mr Paulson how much funding to request from Congress for the Tarp.

He told The Washington Post that he used his BlackBerry to calculate the bailout figures: “We have $11 trillion residential mortgages, $3 trillion commercial mortgages. Total $14 trillion. Five per cent of that is $700 billion. A nice round number.”


 A nice round number, indeed.

I'd love to go create my own 'round number' credit line demand, be able to walk into a bank with a shotgun, hold the tellers hostage, and walk out with my own nifty credit card. I won't even need to pay it back, and the bankers will pour me champagne to celebrate my accomplishment.

I wouldn't even ask for that much.  A billion will do.

A nice, round number.

Sweet.



While The Media Obsess About Tiger Woods...

The students of Iran put their lives on the line in opposition to the regime.

These are posts sent from Iran, they seem authentic, but of course I can't verify them up to any real journalist's standard. So readers will have to judge for themselves.

The 'Basiji' referenced appear to be para-military/private-army types in service of the regime. It's not entirely clear from my reading, but they appear to be imports from Palestine, e.g. Hezbollah personnel, not native Persians.

It's hard to know what the students are seeking long-term, if anything. But it is clear they are deeply unhappy with the current regime.

Monday, December 7, 2009

I Miss Arnie and Jack, Ben and Byron, Gary and Lee

Here's why.

Helicopter Ben's Legacy

HT to Skeptical CPA, who passed along this gem of wisdom:

If the US dollar were back on the gold standard, notes Societe Generale analyst Dylan Grice, then gold would have be priced at $7,648 an ounce in order to fully back all of the dollars in circulation.

 Full article here.

Enjoy.

The Rats Begin To Flee The Sinking Ship: So Long, Congressman Tanner

As it becomes obvious that The Beloved Leader and his gang are in for a brutal November 2010, the Democrat Congressional rats occupying vulnerable seats will begin to flee.

Locally, that would be John Tanner.

This is the guy who decries the national debt and proudly votes for unconstitutional travesties like the TARP, the Obama stimuli, and any piece of pork Mama Pelosi can serve to her vote-hungry minions. (He did vote against PelosiCare, to his credit, but I suspect it was because he perceived the voters were paying attention, and melting his staff's phones off in their hands.)

This August, he refused to schedule anything except 'phone-in' town hall meetings, essentially unpublicized. He did meet one group, at a state-run senior citizen's center, which was announced after the meeting took place. He knew what awaited him once the voters began paying attention.  Calls to his office were generally met with hostile staffers who often did not even know the day's news, or what legislation was under consideration.

It's time to go, and he knows it.

Remember the old joke?

Q. What do you call twenty (fill-in-the-blank--usually lawyers) jumping off the Golden Gate Bridge?
A. A good beginning.

Now, as big a fool as Tanner is, I wish him no harm. I just want him out of public office, where he can do less harm to the nation.

With his announced retirement,  we have a good beginning. Many more, from both parties, available to take that leap back into the Real World.

Plenty of room on that bridge, and plenty of time to act.

Green shoots nominee!

Oh Give Me A Home Where The Dromedaries Roam...

That sensation of relief felt over Thanksgiving that all will be well, and all manner of things will be well, with Dubai, may have been a teency-weency bit premature.

Nakheel PJSC creditors may win the right to seize a strip of barren waterfront land the size of Manhattan if the company defaults on the $3.5 billion bond backing the development.
Investors will be able to seek foreclosure on the property’s mortgages should the Dubai World unit fail to repay the loan, according to the bond’s prospectus. The debt is due on Dec. 14, after which Nakheel has two weeks to remedy a default. The property forms part of the Dubai Waterfront project, where Nakheel plans to build a city twice the size of Hong Kong. 

Now, I'm aware I'm just a layman sitting in the wilds of Tennessee, but did anybody bother to question why somebody might want to build a city twice the size of Hong Kong?  Did the kids with the B-school degrees who bought the bonds think to ask the obvious questions?  Who **!!***??** NEEDS another city twice the size of Hong-frigging-Kong? Who's gonna populate it?  What worthwhile activity will take place there that justifies its existence?  Why are we lending to sheiks sitting on oceans of oil?
Why aren't we demanding the freaking OIL as collateral, instead of empty desert islands in the middle of the Indian Ocean? Does common sense never enter the equation?

In the meantime:  Now the area is bare except for a cluster of partly finished low-rise buildings and idle cranes for hundreds of meters. Yesterday, camels roamed part of the land.

Dubai office values fell 58 percent in the year through September, according to Colliers International. House prices have plunged 50 percent from the peak last year. “If built houses drop 50 percent in value, un-built land will likely drop more,” he said. 

Maybe they can build a camel race-track! Float bonds for it! Those coked-up morons in New York will buy anything, Ahmed.

Go for it, big guy!

Sunday Evening 6 December

Church was good this morning.  The children's choir sang like angels, accompanied by an angelic little harpist, and the Gospel and sermon were about Zechariah arguing with the angel Gabriel that miracles were just not possible in his day, and at his age.  Little did he suspect that the Almighty was just getting warmed up.

A modest Christmas shopping trip, a lovely modest lunch with my lovely bride, who is herself a miracle, and home again to the house we've occupied for nearly twenty years. It dropped into our laps miraculously when we had not two nickels to rub together,  and a number of people close to us really really furious that we had met and married.

But I do sympathize with old Zechariah.  He was tired. He had fought the good fight for many a faithful year, and was grateful just to be alive and able to attend to his wife and his life.  It wasn't so much lack of faith as abundance of experience, seeing too much evil flourish and too little virtue prosper in his day.

I admit it: I'm tired as well, for much the same reasons.

So tonight, here on 6 December, I'm making out the Christmas card list, and trying to remember just how well it all turned out for old Zechariah, who didn't realize that Providence was on deck, awaiting His turn at bat.

Thursday, December 3, 2009

An Insight On The Eve Of The 'Jobs Summit'

Dean Dad at Inside Higher Education offers compassionate insight into the present job market.

And he's writing about the kids who have the resources of mind, character, and circumstance to actaully graduate college.

It's a good read, as are all of his posts.

Wednesday, December 2, 2009

The Narrative of Radical Islam

The YewNork Times sometimes surprises me.  I began to peruse a reprint from its Op-Ed page about the mass-murder Islamist Major Hasan, and expected to be treated to a carefully crafted explanation of why the good Major was a victim of our prejudices, why the murdered victims were actually at fault, and why he should be released to begin his book tour before Oprah calls it quits.

But this time, I was surprised. Thomas Friedman treats us to a thoughtful essay on just how totally poisonous radical Islam is, and how the Kool-Aid is distributed.

The Narrative is the cocktail of half-truths, propaganda and outright lies about America that have taken hold in the Arab-Muslim world since 9/11. Propagated by jihadist Web sites, mosque preachers, Arab intellectuals, satellite news stations and books — and tacitly endorsed by some Arab regimes — this narrative posits that America has declared war on Islam, as part of a grand “American-Crusader-Zionist conspiracy” to keep Muslims down.


In other words, the Narrative is B.S.

Major Hasan bought it hook, line, and sinker.  Did absolutely everyone who worked with this whack-job day in and out simply not pick up on the fact that he was troubled?

Utterly Stupid Palestinian Political Pooh-Pooh, But Should We Be Surprised?

No one has ever accused the Palestinians of being rocket scientists. After all, if you fire mortars at Israeli villages, you shouldn't be shocked to find Israeli tanks knocking at your door, genius.  This stuff is not hard to comprehend.

But this episode is a new low, even for these clowns.

The Choir of Clare College Cambridge made plans to tour Israel this December with the Israel Camerata, presenting Bach's Christmas Oratorio in both Jerusalem and Bethlehem.

How completely horrible and unacceptable!  University students singing Christmas music in (OMG!!!)...Bethlehem!

Some Palestinian groups raised a stink, so the Bethlehem concert was cancelled.

So what's so threatening to the Palestinians if Clare College Choir(one of the finest choral organizations in the world) sings the Christmas Oratorio in Palestinian territory?

Well, think about it. If you are running a government that specializes in creating and then idolizing suicide bombers, recruiting young people to destroy themselves, the last thing on earth you want showing up on Christmas Eve is Clare College Choir singing Bach.  Some of those kids you're trying to recruit might show up to hear the concert, and hear that glorious music.  Even worse, your potential cannon fodder might see those bright kids their own age, happily singing that glorious music.  

Those kids aren't getting fitted for bomb vests--they're studying for their futures.

Now that's dangerous!

To explore more about this insidious threat to Palestinian aspirations, visit them here.
 

Comic Relief, or Why Beauty Pageants Are Generally A Really Bad Idea

The simultaneously unforgettable and unrecognizable performance by Cindy Elizondo in the 2000 Miss Texas Pageant of Chopin's Scherzo No. 1 in B minor, opus 20.

The really scary part is the enthusiastic applause at the end!

Who needs to learn scales and arpeggios when you can just go ahead and learn big impressive literature?

Tuesday, December 1, 2009

Reich's Syndrome: Delayed Indignation/Buyer's Remorse

So, what's a prominent liberal with a brain supposed to do these days?

After all, Robert Reich drank deep of the Obama Kool-Aid.  Hell's Bells, he even helped set this bunch set up shop during the transition before heading back to that Valhalla of liberal thought, UC Berkeley. (And, parenthetically, aren't these just the very best days to be working in the University of California system, where the students are rioting at the thought of having to begin to pay for their educations? Well, at least he gets to see all his sacred ideas come to fruition before his eyes...)

Now, finally, it dawns on him that Prez Hopey-Changey, the Great Himself, has no intention of doing anything except continue and expand on the great financial scam.

He's developed Reich's Syndrome, brought on by myopia, the propensity to believe anything preposterous as long as it is propounded by a charismatic Democrat candidate, the utter inability to heed warnings or reason, and the refusal to acknowledge that mathematics exists.  Symptoms include a severe case of buyer's remorse, delayed indignation, and the utter inability to mouth four simple words: Damn, I wuz wrong!  

One common way in which Reich's Syndrome presents is the sufferer's propensity to write self-righteous articles about how bad it all is, carefully avoiding placing the blame directly at the feet of the people he helped put in power, and pressing for even more governmental expenditures and control over the everyday lives of the citizenry.  After all, those four simple words just can't be uttered, even to oneself in the mirror in the morning.  It's just too painful, you know... Better just to double down and tack left, full speed ahead.

No known cure, but quarantine and ridicule are known to prevent its spread.

Sympathy for the patient is unwarranted, and ill-advised. 

I Just Love Denninger!

Really, truly.

He mounts the podium, states that math is the voice of God, and rails against the idiots who have denied that obvious truth.

If you don't read him, begin here, with today's latest post.

The best moment is:

And by the way, those who try to claim that this was "impossible to foresee" are lying.  Fraudie and Phoney were running with leverage ratios of anywhere from 80:1 to 200:1, depending on how you computed it.  At 80:1 you need just a bit over a 1% loss to go bankrupt, and at 200:1 you need only a 0.5% loss.

There is no business in this land that is safe to lend to at these leverage ratios, nor is there any reasonable expectation in any business that you will never suffer a loss of JUST ONE PERCENT - yet such a loss was and is sufficient to bankrupt the firm long before they were taken into conservatorship.

If only some brave soul who sits behind a desk that makes decisions would hear and heed him.

If only some brave book publisher would find a way to make him sit down and edit it all together in a form that can live on our shelves.


Friday, November 27, 2009

Makes Almost As Much Sense As The Health Care Bill

Now we know who Harry and Nancy hired to draft the language of those tomes!





Thursday, November 26, 2009

Too Many Blessings To List

It's Thanksgiving Day, 2009. I'm in my armchair with a glass of sherry. My extraordinary wife is busily cooking and cheerfully gossiping with our houseguest, a young lady we have helped raise for the past decade.
I could never have imagined ten years ago just what an accomplished and poised young lady she would become. The credit for all that goes to my extraordinary wife.

I'm fifty-ish. A little over twenty years ago, I wasn't at all certain I'd live to see thirty-five, and wasn't even certain I wished to. (A long story, not worth telling, much less reading.) I wake up every day surprised and grateful to be alive, much less happily married and sipping sherry on Thanksgiving Day.

The list past that stretches past the horizon.

So, Happy Thanksgiving. The world seems to be in the charge of idiots, but the Potentate of Time trumps them all.

Ruh-Roh! (Part Deux)

So, while we're cooking, baking, and happily imbibing, the news comes in that all is not rosy in, of all places, Dubai.

It appears they may be on the brink of default of their sovereign debt.


Now, someone please explain to this country boy how an Arab Emirate, up to its keister in oil and cash since 1970, manages to dig itself into this sort of hole, and is likely to drag a bunch of people with it. The list of banks that hold its debt includes some familiar names like Lloyds and RBS. Well, that makes everything OK, since they have a history of being well-run, and certainly have made provisions for this sort of black swan event.

Or not...

It's interesting to watch the reaction in the European markets. For them, it's just another day in the salt mines.

The purchase (and delivery, by golly) of 300 tons of gold by the Indian government now seems oddly prescient.

Tomorrow morning's open in New York could possibly give new meaning to the term 'Black Friday'....

Bloomberg Futures Here.

Now, what happens when all those shoppers wake up to Good Morning America and see what happened while they were stuffing down the turkey?

This could be interesting.

Monday, November 23, 2009

Awards for Genuine Achievement

To provide a contrast to the Nobel Committee's decision regarding the 2009 Nobel Peace Prize, here is the list of the newly-announced 2009 winners of the Rhodes Scholarship, awarded to outstanding students to enable them to continue their work at Oxford.

You'll have to download the pdf of the winners' bios, but I assure you, it will be an inspiring read.

This group makes the Green Shoots nominee list.

Sunday, November 22, 2009

Lee Westwood Wins Dubai--One For The Good Guys

Westwood wins by six, posting a course record 64 on his final round. 

McIlroy ends in third after beginning the final round with the lead.

Both deserve applause for inspiring, classy performances, in the best tradition of sport.

Another reason I love golf, and the European tour especially:  This week also saw a presentation to Peter Vardon, Harry Vardon's 83-year old son, in gratitude for his father's life and accomplishments. 

If you've ever gripped a club with any kind of overlapping grip, you continue a tradition begun by Harry Vardon.  And that was just one of his contributions to the world.

But back to Lee and Rory--I can't wait for Augusta! I think we're in for a show, maybe along the lines of Arnold and Jack.

It Would Be Madness, If It Weren't Extortion

National Public Radio, of all outlets, shares a litigation outrage with us.

Here in this country more than half our sugar comes from beets. From a beet crop that is almost entirely genetically modified. Organic farmers and food-safety advocates are suing to keep that crop out of the ground this coming spring.

It gets more ridiculous from there. The evil 'genetically modified' beet is resistant to Roundup(an approved and widely used herbicide), which allows for lower cost and higher yields. How completely evil!


The report details how a small group of organic growers hopes to prevent the planting of the entire crop via litigation.  Of course, until the defendants come up with a payoff that will mollify the plaintiffs' shocked consciences.

I think it's called the 'GoAway Number'; that magic number that makes plaintiffs take their money and  go away.

The environmental movement has become a literal racket, in which every industry, every development for energy, industry, mining or agriculture becomes a target for litigation.  And the subsequent GoAway Number.

Avacado farmers in California were devastated by a judge ruling that smelt upstream mattered more than their farms.

A badly needed by-pass around Nashville is years overdue and over budget, and congestion in Nashville grows, delayed by a bogus lawsuit over 1000-year-old Indian grave sites.  The judge asked one question: Can any of the plaintiffs prove any descendant relation to any of the bones under discussion? Answer: No. A settlement was then reached, a GoAway number was decided upon, and the road remains uncompleted these years later.

The unemployment rate in this county, where the terminus of that road is located, is well north of 10%.

The industrial parks set aside in anticipation of its completion feature wide tracts of weeds.

It would be madness, if it weren't extortion.

Saturday, November 21, 2009

But, Tim Geithner Says We're Doing Better, So It Has To Be True

This has to be the most impressive chart I've ever seen created.



And Timmy seems shocked and outraged that people would be unhappy with him...

Never Mind!!!

The wonderful comedienne Gilda Radner left us with happy memories, and hysterically funny characters created from her fertile imagination.

My favorite was Emily Litella, the old lady, hard of hearing, who would rant during the news segments 'anchored' by Chevy Chase. He often struggled to keep a straight face while she demanded to know what all the fuss was about Russian Jewelry, or Endangered Feces. Every routine would end with him gently correcting the old girl: 'That's Russian Jewry, or Endangered Species. At which point she would smile sweetly at the camera and deliver the payoff line: Never Mind! followed by gales of laughter and applause.

This week, Associated Press quietly brought us one of those 'Never Mind' moments.

Pfizer decided to locate a major facility in New London, CT. Downtown, where other people owned the real estate. So the city fathers decided to condemn and seize the property. You know, for the 'greater good', since Pfizer would generate more tax revenues than the local proles.

Pfizer's pharmaceutical research center, which opened in 2001, was a catalyst for a planned multimillion-dollar private development that was to include residential, hotel conference, research and development space and a new state park. City officials decided they needed 90 acres adjacent to the Pfizer center to complement the building.

Many homeowners in the Fort Trumbull neighborhood sold to accommodate the wrecking crews, but seven fought the city all the way to the Supreme Court, which ruled 5-4 in 2005 that cities could use eminent domain to take property for private development.


In the end, great damage was done, as the principle was established that a government could seize property from one private party, and hand it over to another private party, all in the name of increasing the tax revenue base. For the 'greater good', you know...

Anyone smell moral hazard in any of this yet? Have there been any instances in which real estate developers paid off local officials for zoning preferences, for instance?

So, here we are in 2009, and Pfizer decides they're not going to go through with the project, after all. How many millions spent in legal fees? And, the city now owns the property they seized from the previous landowners, and are out the money they spent buying the more cooperative ones out.

Bet they'll have an easy time selling all that 'Prime Commercial Property'.

To quote Emily: Never Mind!

We have a cultural problem, in that the Constitution has been reduced to something used to line the birdcages of the powerful.

This creates economic quandries. Eventually. Inevitably.

If we could just say 'Never Mind', smile and move on...

The Casino Is Back In Business, Only It's Our Money Buying The Chips

This dispassionate account of newly bankrupt hustlers buying real estate with FHA guarantees is brought to us by The YewNork Times.

I never fail to marvel that East Coast media types can laconically report outrages of this magnitude with the same lack of passion they would use in reporting the scores of the Friday high-school football scores in South Dakota.

Do they understand what is at stake morally, much less economically, for the country?

Think of the passion expended by the Times on the folks who supported Hoffman in the still-unresolved NY 23 by-election.

Or the outrage expressed over the outing of a non-covert CIA agent.

Or...you fill in the blank....

Soooooo...

Long story short, each of three guys put up 11K to get in the game. The article tells the rest of the tale:

Their building, for which they paid $963,000, is on a quiet street in the up-and-coming Hayes Valley neighborhood, close to fashionable restaurants they have already been trying out. The friends plan to live in the bottom unit and rent out the top. Thanks to rock-bottom interest rates, none of them will pay much more than a thousand dollars a month. “Everyone should have the chance to do this,” Mr. Kurland said.

Everyone may get a chance.

A few weeks ago, Congress extended the higher lending limits for another year. Representative Barney Frank, the Massachusetts Democrat who is chairman of the House Financial Services Committee, said in an interview that he planned to introduce legislation next year raising the maximum F.H.A. loan by $100,000, to $839,750.

His bill would make the new limits permanent.


33K down to purchase a 963K building. 33/963=.0342679. My calculator is smoking...

3.4% down payment on a property whose value is destined to fall, and if our intrepid young men default, or decide to walk away, or someone gets unhappy the with the arrangement, or falls ill, or moves back home, then the taxpayer gets to eat the cost of the failure.

FHA has done this 107,000 times in California this year. Six a week in San Francisco.

FHA was not set up to support high-end real estate plays. People are supposed to do that sort of stuff on their own dime, aren't they?

Is all this o.k., because Obama and Barney Frank say so?

My children, and my grandchildren, will end up paying for these guys sampling the restaurants of San Francisco. I doubt these guys will get around to settling down and procreating their own children to help foot the bill.

Friday, November 20, 2009

Pope Benedict Reminds Us Why All Those Cathdrals Exist

Joseph Ratzinger gets the Green Shoots nomination two weeks in a row, reminding us all that that outpouring of beauty found in the Middle Ages cathedrals was an expression of deep faith.

These were never intended to be museums. Some still aren't, like Ely, north of Cambridge, where the Queen visited yesterday to celebrate the 900th anniversary of the Diocese of Ely.

Ratzinger ends his address thus:

Dear brothers and sisters, may the Lord help us to rediscover the way of beauty as one of the ways, perhaps the most attractive and fascinating, to come to encounter and love God.

Full article follows here:


Ahead of Meeting with Artists, Pope Benedict Acts as Docent

Good Golf This Weekend from Dubai

We could take some time off from watching football and basketball this weekend.

It really won't hurt us. Besides, the tour golfers can read, write, speak standard English. They even manage to stay out of jail.

Who deserves more of our time and attention?

I've been working away, keeping half an eye on Golf Channel's broadcast of the European Tour event from Dubai.

Rory McIlroy and Lee Westwood were paired up, and they had one of those great rounds where they fed off one another, sort of like NASCAR drivers drafting one another around the track at Daytona. They spent the day splitting the fairways, and pouring in the putts. It was as good a round of golf as I've seen in years.

McIlroy, at age 20, is just sensational, and with those boyish good looks and charm, will soon become a star.

Westwood scrambled out of deep trouble a couple of times, sort of England's answer to Phil Mickleson without the space-cadet dimension...

Westwood ended the day at -6, McIlroy at -4.

Here's hoping they keep it up. We all could use some inspiration.

Thursday, November 19, 2009

Welcome to Paris at UCLA (14 Arrested, 1 Tasered)

A group of students caught on camera protesting the a 32% hike in tuition. Difficult to say how many there were, or who they were, but they certainly made some noise.

The taser came out on this one. Wouldn't you love to be the campus security officer photographed doing this, and returning to work on foot patrol next week?

As reality arrives on ground level, people will be upset.

This reminds me of the Left Bank riots of Paris. Never thought we'd see it here...

Wednesday, November 18, 2009

Robert J. Samuelson, Washington Post, Definitely Not Amused by ObamaCare

Robert J. Samuelson is a weekly columnist for The Post, writing on political, economic and social issues. His column appears on Wednesdays.

Samuelson joined The Post on the business desk in 1969. In 1976 he became an economic reporter for National Journal, where he began a weekly column, which began appearing in The Post in 1977. In 1984, Samuelson became a columnist for Newsweek.

In other words, no one can call him a 'Teabag Person', or 'AstroTurf' and pass the laugh test.

He is not amused by ObamaCare.

The disconnect between what President Obama says and what he's doing is so glaring that most people could not abide it. The president, his advisers and allies have no trouble. But reconciling blatantly contradictory objectives requires them to engage in willful self-deception, public dishonesty, or both.

This from an icon of the East Coast Media.

What are Obama and Pelosi to do? Do they put Samuelson on the enemies list? Do they declare The Washington Post 'not a news organization'?

The wheels, blessedly, may be coming off the train. There is hope yet.

Andy and Jon, Children of The Bubble

Meet Andy.

Andy is 28, used to work in advertising, and now works on a political campaign. He's an Activist.

Meet Jon.

Jon is 34, used to work on Wall Street until recently. He's a Lawyer.

Neither have any memory of a world in which residential property values did not rise at a pace well past any other investment. It's as if one has a right to buy a house for Price A(say 75K) refi it a few times, touch it up a bit, and sell it for a multiple of A(say 295K). Anyone or anything who gets in the way of that would be just so, well, unprogressive, don't you think?

So, how do Andy and Jon's paths cross? They both moved to Louisville, and each bought one of those charming little frame shotgun houses in Butchertown, in the district traditionally associated with the stockyards and slaughterhouses.

Now, Andy and Jon and their fellow Butchertown Children of the Bubble have problem on their hands. There is still a meat-packing plant in Butchertown!! OMG!!! It's been there since 1969, and it..it..it SMELLS LIKE A PACKING PLANT!!

It employs 1400 people, but, you know, they're those kind of people, who don't have college educations, but are likely to have pot bellies and speak English with funny accents and drink beer and raise children. A lot of them go to church! Some of them smoke! OMG, they must go! They will just ruin our property values!

So, Andy the Activist, chair of the local homeowners association, and Jon the Lawyer get together to file complaints with the zoning commission, and lawsuits against the zoning commission, and generally stomp their feet to demand, DEMAND I SAY, that this nuisance be removed from their presence forthwith!

Now, it will cost the firm some $350 million to build a new plant, but that's a small price to pay in order to make Butchertown a 'Walkable Neighborhood', near the proposed botanical gardens, with each of those little shotgun frame houses selling for $500k. After all, we're Young Professionals, the sort of people a city wants, unlike those smelly worker types, with their smelly children.

So, the packing plant is spending hundreds of thousands dealing with the neighbors, the city, the lawsuits, etc., while employing 1400 people who actually produce something. Every day, live pigs go in one door, and bacon and ham depart the other. People buy and eat bacon and ham. People can't buy and eat inflated real estate valuations, generally.

Time was, those little shotgun houses actually housed families with children. Their dads worked in the plants. They worked to support their families, eventually own their little house bought with the help of the local S&L, and hopefully launch their kids and grandkids to a better life than theirs. That was the deal. That was The American Dream.

The Bubble killed much of that off. The workers commute from the south side, not from 'Walkable Neighborhoods', where they try to raise their kids. The Young Professionals remodel their houses in their Walkable Neighborhoods, oddly empty of children and young mothers, and harrass anyone who dares cross their path.

Even if that anyone happened to have been there first, for some decades.

Until we address the raw narcissism of the culture, the Fed and government can hose the economy down with cash, stimulus programs, tax credits, jobs programs, health reforms, bailouts, what have you.

It won't matter.

I'm to the point of thinking that the sooner the air is let out of the real-estate bubble, and values return to the mean, the better. Then and only then will sanity begin to have a fighting chance.

Andy and Jon will just have to adjust, and perhaps produce something with their lives beside litigation.

OMG!!!

Tuesday, November 17, 2009

Old Time Recession

HT to Calculated Risk.

This too good (and too true!) not to share...

Monday, November 16, 2009

The Return of Music to Saint Peter's Basilica

Long overdue, but very welcome!

One of the unintended and tragic consequences of Vatican II was the disappearance of almost the entire corpus of church music from the Catholic Church, replaced by really really really cheesy drivel. Badly written(most of the 'poetry' never scans, therefore is unsingable), badly sung, accompanied by out-of-tune guitars with a vocabulary of four chords.

Joseph Ratzinger is attempting to set things straight, by encouraging the return of choral and organ music, and all the arts, back to the church.

Sandro Magister, covering this week's events, offers this insight:

Among the arts to be represented in the Sistine Chapel next Saturday, November 21, at the highly anticipated meeting with Pope Benedict XVI, music is perhaps the one that has suffered the most from the divorce that has taken place between artists and the Church.

The distress in music has been the first to afflict the Church. Because while the masterpieces of Christian painting, sculpture, and architecture still remain accessible to all, even if they are ignored and misunderstood, great music literally disappears from the churches if no one performs it anymore.


Again: Great music literally disappears from the churches if no one performs it anymore.

And it disappears from cultures as well. It has faded so rapidly from our culture, in great part, because it disappeared from the churches, all the churches, beginning in the 1960's

It is good to see the Pope take the lead on this matter, because so much more is at stake than just music, and he gets it!

Green Shoot Nominee!

Sunday, November 15, 2009

Let's Just Not Go There...SOOO Unpleasant And All...

Our Nobel Peace Prize Awardee in residence would rather Congress not investigate the Fort Hood massacre.


It could be, well you know, embarrassing, and might bring up that question about terrorism, the nature of Islamic extremism, and how this monster slipped through, right under the noses of all the responsible parties.

Besides, there hasn't been enough time to shred all the relevant documents.

And, given enough time, people forget, and after all the poor psychiatrist was under a lot of stress, and the poor man was shot by the police!

The families buried their sons and daughters this week. I'd venture to guess they and theirs want some independent inquiry into why their lives were shattered.

Saturday, November 14, 2009

Cognitive Dissonance

U.S. Posts $176.36 Billion Deficit for October - WSJ.com

The October deficit figure is wider than the Congressional Budget Office's estimate for a $175 billion deficit in the month and wider than the $165.9 billion expected by analysts surveyed by Dow Jones Newswires.

The Treasury on Thursday also revised September's deficit to a slightly narrower $46.57 billion, from a previously reported $46.61 billion. Even with the revision, the U.S. in fiscal year 2009 posted a record total budget deficit of near $1.4 trillion -- three times its previous record.

At the equivalent of 9.9% of gross domestic product, the figure is the widest U.S. deficit as a share of GDP since 1945.


The current fiscal year deficit of just the Federal government is almost 10% of GDP.
That's before the states and local entities...

vs.

Senator Reid tees up 2010 jobs bill - TheHill.com

Harry Reid thinks the way to solve all our woes is to toss another $500 billion onto the fire.

There is a complete disconnect between reality and behaviour.

What planet are they on?

They act like badly-parented children, who never learned the direct relationship between behaviour now and and results later...

Tuesday, November 10, 2009

The Hard Decisions Begin in Earnest, County by County

Save our Fairfax County Public Schools band and strings programs - The Petition Site

A vendor sent this notice over on email, urging that Fairfax County (Maryland?), staring a $176,000,000 deficit in the face, keep its band and orchestra programs publicly funded.

Many have expressed concern, dismay and questions over the Straw Man list suggesting the elimination of the Fairfax County Elementary Band And String program in the FY2011 Budget. The school system faces a $176 million deficit. Eliminating a program that serves 28,000 students is not acceptable. This will, in a short time decimate our secondary school bands and orchestras.

This is not an appeal to sign a petition, but an illustration of the quandry faced by counties everywhere.

A few thoughts:

1. Not picking on these folk in particular, but every county and every school board will be facing tough decisions beginning this next fiscal year. One bad thing about The Stimulus is that it allowed local leadership in some cases to paper over the problem for one more year, 'kicking the can down the road'(to quote Fred Thompson), and making the subsequent decisions even more painful. Yo' taahmm is UP, everybody. Gotta make some hard decisions.

2. I'm a musician by trade, but I'm a parent, and friend of other parents. If it comes down to keeping the chemistry, maths, history, and foreign languages curricula in place versus the school band and orchestra program, then band and orchestra have to go. Let's hope it doesn't come down to that, but it may!

3. The nasty little secret no one wants to discuss is that most public-school band and orchestra programs are dreadfully bad. I've seen a lot do more harm than good. Many don't deserve to survive. If they're good, they can likely survive outside the walls of the school.

4. If it's important to families and communities for children to learn music, and learn how to do it well, then this can be provided with much higher quality and less cost outside the walls of the public school. How much does it matter to you, mom and dad? Enough to write checks, volunteer, and quietly make certain your neighbors' kids from less affluent circumstances also have that opportunity? I see marching bands(don't get me started!) where the band-boosters have purchased semis and trailers to haul all that stuff around--upwards of 500k in capital investment in some of these programs! This really matters to these folk, and they pour out the money and time to make certain it happens. (And marching bands really suck as a music education approach.) Imagine a community youth orchestra with a 500k capital investment for gear and rehearsal space!

5. A two-word solution for music education in schools that doesn't cost tons of money: Choral Music. Every kid arrives at school with the instrument installed. You need a really good teacher, a really good piano(and pianist), and about 2k a year for music library purchases. For about 120-150k a year, every kid in the school can learn how to read music and how to sing. That's a lot more than is presently being accomplished.

These hard choices must be made. The money is not in the public coffers, and will not be there for years to come. Whining and demanding that non-existent tax revenues be spent on programs that don't deliver value for students is not the solution. Some very worthy programs, such as the Fairfax County elementary string orchestra, may have to reorganize outside the walls of the school.

Hard decisions will have to be made.

If we make them wisely, the culture will begin to recover.

And, after that, the economy will begin to function again.

Proof Positive: There's One Born Every Minute

P.T. Barnum was right!

The government of Argentina, that model of stability, prudence, and sobriety stretching back generation upon generation, has decided to rejoin the world, and settle up on its old sovereign debt defaults. The bondholders just have to take a 60% haircut, that's all.

Easy-peasy.

Then, they plan to issue NEW sovereign debt, at an attractive rate of interest.

And, there are money managers out there planning to buy in!

Could it be they know, when push comes to shove, they can now dump the resultant losses on the US Treasury and taxpayer?

In the great Latin American tradition of 'La Mordida', how much kickback money should we estimate will funnel its way back to those managers as they make those purchases with their clients' funds?

This should turn out well...it's a sure thing. Where do we sign up?

Argentina Legislation Aims to Settle Bond Dispute - WSJ.com

Tear Down This Wall


Twenty years ago, we watched in joy and wonder as the Berlin Wall was pulled down by the citizens of Berlin itself.

The Soviet Empire had been teetering for some time, but we could not see it from here.

Ronald Reagan knew better, and delivered the kick to the sternum that led to its inevitable collapse.

For those of you too young to remember, or too cynical to care, listen to 1:43 of a twenty-seven minute masterpiece, delivered by the last statesman to ever occupy the Presidency.

Words have meaning. Truth has power. Moral uprightness is a force of nature.

The cowards in our State Department wrung their hands at the audacity of Ronald Reagan for stating the simple truth.

They were wrong. They should have all been sacked. It was one of the few things Reagan left undone.

Moms and Dads, teach your children of this day, and how it came to be.

Full text and video here.

Speechwriter Tony Dolan's account of the crafting of the speech here, courtesy of Wall Street Journal.

God bless Ronald Reagan, and mercifully grant us more leaders like him.

Friday, November 6, 2009

The Health Care Bill and The Happy Meal

There are several pages in the 1500's that give HHS the power to require labelling of all manner of food.
Here follows an especially entertaining nugget.


Page 1514:

‘‘(v) MENU VARIABILITY AND COMBINATION MEALS.—The Secretary shall establish by regulation standards for determining and disclosing the nutrient content for standard menu items that come in different flavors, varieties, or combinations, but which are listed as a single menu item, such as soft  drinks, ice cream, pizza, doughnuts, or children’s combination meals, through means determined by the Secretary, including ranges, averages, or other methods.


Call your Member of Congress...

Health Care Bill: Secretary of HHS, Doctors and Pharmaceutical Companies

Page 128 (Italics mine)

SEC. 239. PROTECTION OF PHYSICIAN PRESCRIBER INFORMATION

(a) STUDY.—The Secretary of Health and Human Services shall conduct a study on the use of physician prescriber information in sales and marketing practices of pharmaceutical manufacturers.

(b) REPORT.—Based on the study conducted under subsection (a), the Secretary shall submit to Congress a report on actions needed to be taken by the Congress or the Secretary to protect providers from biased marketing and sales practices.




So, what constitutes 'biased marketing and sales practices'?

By this language, anything the Secretary of Health and Human Services decides...

Of Course We Won't Ration Care!

From page 25 going into 26.

Look at the final clause. Italics mine. Miss Nancy surely doesn't want this noticed...

Looks like rationing to me!

(2) INSUFFICIENTFUNDS.—If the Secretary estimates for any fiscal year that the aggregate amounts available for payment of expenses of the high-risk pool will be less than the amount of the expenses, the Secretary shall make such adjustments as are necessary to eliminate such deficit, including reducing benefits, increasing premiums, or establishing waiting lists

Dramatic Reading 1: House Health Care Bill

From page 25 of the House Health Care bill:

(7) TREATMENT AS CREDITABLE COVERAGE.— 
Coverage under the program shall be treated, for 2
purposes of applying the definition of ‘‘creditable 3
coverage’’ under the provisions of title XXVII of the 4
Public Health Service Act, part 6 of subtitle B of 5
title I of Employee Retirement Income Security Act 6
of 1974, and chapter 100 of the Internal Revenue 7
Code of 1986 (and any other provision of law that 8
references such provisions) in the same manner as 9
if it were coverage under a State health benefits risk 10
pool described in section 2701(c)(1)(G) of the Public 11
Health Service Act. 12

That's one paragraph from 1190 pages.

Call your Member of Congress.

Feeding At The Trough

The feeding frenzy is now underway in earnest...expect language to be inserted that will allow illegal immigrants to belly up to the bar for Obama's Free Lunch.

The Hispanic Caucus met with the Prez to remind him of his promises to open the coffers to illegals, including, of course, free health care.

Well, not exactly free.  The citizens get to pay for it.

"I think that he got our message," Rep. Nydia Velazquez, D-N.Y., head of the Hispanic Caucus, said afterward.  House leaders said that, in keeping with the Hispanic Caucus' demands, there was not likely to be any prohibition added to the House bill against illegal immigrants shopping in the exchange.



Here's the AP story.  


I called my Congressman's office(Tanner, TN-8), and the staffer claimed she didn't know how he planned to vote. I was incredulous, she was indignant, claiming he hadn't decided.


Right.


He's a slimeball, and will vote for it, 'cuz Miss Nancy tells him so.  He voted for the TARP, for the stimulus, for whatever Miss Nancy wants.



Call your Member of Congress.  Freedom is at stake.


Tuesday, November 3, 2009

Goldman Knew The Crash Was Coming...And Helped Drive The World Over The Cliff

The insiders at Goldman knew the crash was coming. 


And saw it as an opportunity to make money hand-over-fist, and leave the taxpayer to bear the brunt of the losses, even as many of them were also losing their homes and jobs.


In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.

Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled the nation's premier investment bank to pass most of its potential losses to others before a flood of mortgage defaults staggered the U.S. and global economies.

Only later did investors discover that what Goldman had promoted as triple-A rated investments were closer to junk. 

(Those are just the opening paragraphs--the really bad stuff is buried down the article.)

All in a day's work. Crack dealer, investment banker, both selling poisonous products with high profit margins, and insulating themselves from having to see what their stuff does to the customer.


Problem is, this sort of behavior totally erodes any sense of trust in a culture.

It's difficult to have a culture once trust is eroded. Much less an economy.

But, then again, if they cared about the culture, they wouldn't have been selling this stuff in the first place, would they?

Culture shapes economy.





Sunday, November 1, 2009

Frank Rich and The G.O.P. Stalinists Invading Upstate New York

Ah, the YewNork Times!  Ya' just GOTTA love 'em.

Frank Rich, one time drama critic and current Obama Kool-Aid sipper goes to great lengths to tell America to be very afraid of Mr. Hoffman and those who support him.  Further, he thinks that Hoffman's victory will be wonderful for the Democrats next year.

Methinks the folks-in-charge of both parties might be sweating a bit, 'cuz the spin has already begun, before the election even takes place!

Remember, those of us who just don't idly by and take what is shoveled in our direction are just ignorant bubbas, racists...

Stalinists!

How come they get to call names, and it's journalism?

We point out the facts on the public record, speak up, and we're Stalinists.

I think we've got them on the run, personally...

Op-Ed Columnist - The G.O.P. Stalinists Invade Upstate New York - NYTimes.com


Saturday, October 31, 2009

The Problem With Mathematics...

...is that it is impervious to ideology, in the main.

Math just is!

Paul Krugman is someone I respect and read, and do not often agree with.

But, he does know how to do math.  In the short post below, he provides with a graph that tells us we need about 2% growth in GDP to create a 1% growth in the employment numbers.

It's just numbers, just math, which just is.  And that's what is most damning about the current set of clowns in charge.  They think math doesn't matter, that it's like language, something to be fabricated for the day's usage. But the simple math tells the terrible story.

Growth and jobs - Paul Krugman Blog - NYTimes.com

So, does Krugman of the New York Times now go on the White House Enemies List, because he dares publish a graph displaying the mathematical results of the past sixty years of the US economy?

Mish also knows how to do math.

He calculates the cost per 'job', using the numbers published by the Federal Government and the White House. 

He takes the White House numbers at face value, and then simply says(hang on to your calculators, you won't like what you see!):

Let's do the math.



Math To Date

Funds paid out so far = $83.8 billion + $52.1 billion + $71.4 billion = $207.3 billion
$207,300,000,000 / 640,329 = $323,739.83 per job created

Plan Goals Math

Now let's assume this stimulus package will eventually create (or save) 3.5 million jobs and all the money (but no more) will be spent.

Here's the math again.

$787,000,000,000 / 3,500,000 = $224,857.14 per job created
  
Math just is.

Until we elect a Congress and White House that understand this, and know how to do math, very little will improve.

 


Scary Thought for Halloween: The White House Might Actually Believe Their Own Fantasies!

Be afraid.  Be very afraid.

The White House is trumpeting to the world just how successful 'The Stimulus' has been--millions of jobs 'saved', hundreds of thousands 'created', and we can all sleep well tonight, knowing that the goblins of economic malaise dare not mess with The One, The 2009 Nobel Peace Prize Winner, The Prez!  And, they actually seem to believe it themselves.

He's got it all under control.  Let's just not talk about 115 bank closures to date(nine yesterday!), or the $100 billion dollars we borrowed from the world last week. Or the true unemployment figure that approaches 20%. Or GMAC coming back for more love from the TARP. Or Fannie and Freddie on life support.
Or the FDIC. Or...

He's got it all hammered out. He's The One.  Just ask Oprah. She knows about these things.

However, even CBS News is finally beginning to locate its spine, and in the embed below, tells us that the numbers being released bear no relation to reality.  This is CBS, not Glenn Beck, finally admitting that they cannot pass on this information as if it were true.

Which leads us to the next scary thing to ponder:  If CBS begins to report the truth(finally), will they also be considered not a news organization by the Obama White House? 

Old English Prayer:

From ghosties and ghoulies, long-leggedy beasties, and things that go 'bump' in the night, good Lord, deliver us!


Watch CBS News Videos Online

Friday, October 30, 2009

The Choice, aka The Testimony The House Democrats Refused to Hear or Publish




It isn't just what happens that we should notice.

It's what doesn't happen.

It's the voices of dissent, however reasoned, that are suppressed, the testimony deliberately never entered into the record or published, that also must be noticed.

Robert Johnson, whose credentials are noted below, was called at the last minute to testify before the House Banking Services Committee this week. He warned starkly of the dangers of the bill proposed.

Five minutes into his testimony, he was cut off by the acting chair. He submitted his testimony, which was subsequently never published.

The account can be found here.

The full testimony can be found here.

Johnson is no tin-hat Tea Party type.  He is an experienced executive in the financial world, and is employed by the Franklin and Eleanor Roosevelt Institute!  If his voice is to be suppressed, what then?

Here is the summary of his testimony, which runs twenty-sen pages.  Little wonder the Committee did not wish it entered in the record!

THE CHOICE: REFORM OR ENDORSEMENT OF A MAN MADE FAULTLINE

Wall Street's leaders cannot control their urge to seek protection despite the fact that it is demeaning to their reputations. Yet the members of this Committee and your counterparts in the Senate are responsible for resisting their demands for the good of society. I do believe that this is no minor matter. The financial security and strength of our nation is in the balance. Confidence in the U.S. dollar as the world's foremost reserve currency depends upon the integrity of our financial system. As I stated at the outset, I believe that the intersection between the OTC derivatives market and the large financial institutions is the financial equivalent of the San Andreas fault. Yet there is one difference. The San Andreas fault is a natural occurrence that we must all cope with to mitigate the consequences of an earthquake. It is beyond our power as people to eliminate. The current state of OTC derivatives regulation and its relation to the guarantees of large financial institutions are a man made fault that is the product of past human errors financial legislation and regulation. It has been revealed by catastrophic events to have devastating consequences. It has produced an avoidable earthquake.  That earthquake and its consequences need not be repeated. One can only imagine the consequences for the reputation of those public officials who would choose to act to codify into law this fault line and expose our society to a repetition of the financial crisis that has devastated the world in recent months.

To avoid reform would be harmful enough. We know the fault lines of past human error regarding the regulation of OTC derivatives continue to threaten us. But to affirm the status quo with new legislation that codifies these structural flaws and deems them to be healthy would be far worse. This is not about just leaving a few crumbs on the table for big financial institutions and asking the rest of us to pay a little more. This is about the representative government of our society choosing to affirm a dangerous financial structure that could explosively harm us all again just after we experienced a severe and unnecessary crisis that resulted from these very failures of design. It would be both dangerous and demoralizing for America and the world if our legislators choose to take that path forward in deference to the parochial desires of a few firms in the financial sector. 



Robert Johnson is the director of the Economic Policy Initiative at the Franklin and Eleanor Roosevelt Institute and is a regular contributor to NewDeal 2.0. He serves on the United Nations Commission of Experts on Finance and International Monetary Reform. Previously, Dr. Johnson was a managing director at Soros Fund Management, where he managed a global currency, bond and equity portfolio specializing in emerging markets. He was also a managing director at the Bankers Trust Company. Dr. Johnson has served as chief economist of the U.S. Senate Banking Committee under the leadership of Chairman William Proxmire and was senior economist of the U.S. Senate Budget Committee under the leadership of Chairman Pete Domenici.

Wednesday, October 28, 2009

Fox News Soars After Snub From Obama

Just too good not to pass along.

The White House draws the knife on Fox News, and...

Fox News ratings soar.

(Giggle...)

Inside Alan Jackson's Home(Which can be yours for a mere $38 million)

Michael Jackson wasn't the only Jackson making large amounts of money and living large back when the recorded music business sold records. Alan Jackson--I can assure you, no relation, did quite well, and continues to, I'm certain.

But we all must eventually downsize, must we not?

For the Wall Street banksta or Arab oil sheik who has everything, but longs for that simple life down south in the country, country music star Alan Jackson offers his estate for sale, at the bargain asking price of a mere $38 million.

The link takes you to an impressive slide show, a veritable celebration of music industry over-the-top life.

(I know what I pay to keep the grass mowed on my little bit of Tennessee acreage. God only knows what Alan's monthly nut must be, what with seventeen HVAC units to run, the pool, the outbuildings, and then the grass-cutting bill. Whoowee, that's a lot of pickin' and grinnin' to keep that up!)

For those of you with rather less cash to burn, or less grandiosity, luxury condos in Nashville, some with views overlooking the studios where Mr. Jackson made his magic, are available at auction this week.

Much to the chagrin, of course, of those poor rubes who bought in the final golden days of the bubble.

I expect an awkward silence to prevail at the opening of the auction, if the developers think they'll be flogging these puppies off at even 40% off.

The folks who made the bubble possible, and are making out like bandits, will of course be bidding on Mr. Jackson's property...

I'm sure the neighbors will be most welcoming.

Tuesday, October 27, 2009

A Well Turned Phrase Is Always A Joy

'More and more, I see this government (and some before it) as resembling Homer Simpson, pushing a button on the nuclear generator console just to see what happens, and rewarded by the sight of people suddenly fleeing a wall of flame in the corridor.'

Sackerson was describing the Labour government soon to exit power in the UK, but it aptly describes ours as well.

It's a great article about immigration, education, and societal breakdown.

And very cleverly phrased!

Inspirational Thought for the Day...


The Fat Lady Has Begun To Vocalize

Mish had posted a most informative article Friday about CitiBank's pending meltdown and its issuance of millions of letters to its cardholders, informing them that their interest rate would be 29.99% from henceforth--even if they had a stellar credit rating!

Well, by this afternoon, the damage control efforts were underway.  The chief executive in charge of spin had emailed Mish.

That was quick!

I'll let Mish take it from here:

Email From Citi's Vice President, Public Affairs

This morning, in response to Citi-Grinch I received the following Email from Citi's Vice President, Public Affairs:
Hi Mr. Shedlock,

I have read your blog posting from Mish's Global Economic Trend Analysis, which appeared earlier today.

I am wondering if we can have a background discussion at your convenience.

Best regards,

Samuel Wang
Vice President, Public Affairs
Citi
153 East 53rd Street
New York, New York 10022
Cordial Conversation

I gave Mr. Wang a call and the conversation was quite cordial. He explained that customers could opt out of the rate hikes, and that in some instances consumers could keep using their card up to the expiration date of the card at their old rate.

What I asked Mr Wang:

  • How many total cards do you have?
  • How many received the letter?
  • What percentage could keep using the card at the old rate until the card expiration date?
  • What is the percentage breakdown by FICO score of those those receiving rate hikes or lowered credit limits?
  • Is Citigroup setting up to exit the credit card business?

Whatever answers I get, I will post.

Did these people think they could do this and not have a firestorm on their hands?

Did they think that someone wouldn't publish one of these letters, and that thousands of people wouldn't read them?


What planet, I ask again, do these clowns live on? (Certainly not ours!)


Just wait until thousands upon thousands of their customers decide to just give them the finger, and stop paying.  Then, add to that, the thousands of depositors who can take their business down the street to a small, locally owned bank, where every customer is known by name. (I bank with two such firms.)

It's dawned upon the customers that they have some power in the relationship, and if enough of them rebel, no one can save Citibank.

And, given odious events lately, no one will want to; especially in Congress, one year away from facing an enraged electorate.

There's the old joke about opera: It ain't over until the fat lady sings.
 
The fat lady has begun to vocalize.