The Hosue has just defeated the the Wall Street rescue bill 228-205 with sizable numbers of both Democrats and Republicans voting against it, although a larger percentage of the latter.
Am I too paranoid and cyncial to be thinking that somehow McCain is behind this? Will he now make another rescue-dash to Washington to bring the House Republicans on board after some tinkering and a revote? Or is he going to now say that he saved us from a bad bill being passed?
Somehow, he will try to make some political captial out of it, I'm sure.
So, what now, Congress? The President and leaders of both parties strongly urged passage of the bill. Too many constituents, who probably do not understand the whole situation and are reacting naturally with outrage at little guys having to pay for big guys' mistakes, have flooded their representatives with negative messages. And it's 5 weeks from re-election time, with 100% of these House members up for re-election (unless they're retiring).
So, what IS the next move?
Ralph
Monday, September 29, 2008
Palin as American Idol
A friend emailed this to me - from a Hadley Smith, PhD, Dallas Texas, who I believe is the President of a consulting firm for executives needing leadership development.
MCCAIN’s TARGET AUDIENCE CHOOSES TO REMAIN IN A CLOSED SYSTEM WHILE SEEKING SOLICE BY INDULGENCE IN FALSE COMFORTS FOUND IN THE EFFORTLESS ROUTES OF UBIQUITOUS CONSUMER MENTALITIES, ADDICTIVE PREOCUPATIONS WITH (UN)REALITY SHOWS, VIDEO GAMES, SHALLOW CELEBRITYHOOD, AND THE SELF-SEALING UNIVERSE OF ELECTRONIC ENTERTAINMENT (OBSESSIVE SPORTS AND FASHIONS NOT WITHSTANDING). THESE ARE THE DRUGS OF CHOICE FOR DROPPING OUT.
SUCH SECONDARY REALITIES PROVIDE AN INSTANT, MANUFACTURED IDENTITY, A SWIFT AND SENSATIONAL ESCAPE FROM THE OVERWHELMING PRIMARY REALITIES WHICH THEY DO NOT UNDERSTAND AND CANNOT MANAGE. DOING THAT WOULD REQUIRE NEW LEARNING, SELF-REFLECTION, OWNERSHIP OF THEIR IGNORANCE, VISION, AND OPENNESS TO OTHER DIMENSIONS AND WAYS OF BEING. TO BE SURE, THIS IS NOT A PARTISAN PROCLIVITY; MUCH OF AMERICA IS OPTING OUT OF CIVIC ENGAGEMENT BY VARYING DEGREES THROUGH SUCH PALLATIVES. BUT THIS ROUTE IS DECIDEDLY RICHER IN THE CONSERVATIVE GROUPS WHICH MCCAIN’S STRATEGISTS HAVE TARGETED. IT IS THE INVENTIVE SNARE THEY HAVE DEVISED FOR GAINING SUPPORT FOR HIS CANDIDACY.
BY CREATING PALIN AS A POPULAR CULTURE ICON STRATIGISTS KNOW SHE WILL BE ARDENTLY EMBRACED: SHE REPRESENTS THE SUCCESSFUL AND TRIUMPHANT “THEM” AND SERVES AS THE CELEBRITY HERO WHO WILL SANCTIFY THEIR INSULARITY, SOLVE THEIR PROBLEMS, AND RETURN THEM WHOLE AND PROPEROUS TO A SIMPLIER TIME. THEIR APPLAUSE IS NOT ABOUT SUPPORTING THE BEST CANDIDATE FOR NATIONAL OFFICE IN UNPRECEDENTED TIMES; IT IS ABOUT SHORING UP THEIR FRAGILE IDENTITY!
And what better way to cement that celebrity than by having a wedding? No wonder the distracted Mom couldn't think when she spoke with Katie - so much on her mind. Who can't relate to that?Sunday, September 28, 2008
We're on the move
My optimism has returned. The good news from the electoral tracking polls boosted my spirits. And now there's this: The Stockton, CA newspaper, The Record, has endorsed Obama with a unanimous vote of its editorial board.
So why is that so significant?
Because it is the first time in 72 years that they have endorsed a Democrat, FDR being the last one.
The Record's editorial had this to say (excerpts):
"Barack Obama is our choice for president of the United States.
So why is that so significant?
Because it is the first time in 72 years that they have endorsed a Democrat, FDR being the last one.
The Record's editorial had this to say (excerpts):
"Barack Obama is our choice for president of the United States.
"He has demonstrated time and again he can think on his feet. More importantly, he has demonstrated he will think things through, seek advice and actually listen to it.
[The last eight years have left a cynicism in American politics.] "This must end, but John McCain can't do it. He can't inspire, nor can he really break from a past that is breaking this nation
"McCain, who has voted consistently for deregulation, started off two weeks ago declaring the U.S. economy fundamentally sound but ended the week sounding like a populist. Who is he really?
"He tends to shoot from the hip and go on gut instinct. The nation cannot go through four more years of literally and figuratively shooting now and asking questions later.
"But the fact is, we worry he won't have four years. If elected, at 72, he would be the oldest incoming president in U.S. history. He's in good health now, we're told, although he has withheld most of his medical records. That means Gov. Sarah Palin could very well become president.
"And that brings us to McCain's most troubling trait: his judgment. . .
"Obama can inspire, and our nation desperately needs an inspirational leader. . . .He offers hope. A new way of doing business. And a belief that our system of government can be made to work.
"He's the clear choice."
Thus spake a Republican newspaper abandoning its 72 year record to support Barak Obama!!!
Ralph
Palin Believes Earth, Dinosaurs 6,000 years Old
From the L.A. Times, one of the most widely-regarded newspapers in the US
Soon after Sarah Palin was elected mayor of the foothill town of Wasilla, Alaska, she startled a local music teacher by insisting in casual conversation that men and dinosaurs coexisted on an Earth created 6,000 years ago -- about 65 million years after scientists say most dinosaurs became extinct -- the teacher said.
Soon after Sarah Palin was elected mayor of the foothill town of Wasilla, Alaska, she startled a local music teacher by insisting in casual conversation that men and dinosaurs coexisted on an Earth created 6,000 years ago -- about 65 million years after scientists say most dinosaurs became extinct -- the teacher said.
After conducting a college band and watching Palin deliver a commencement address to a small group of home-schooled students in June 1997, Wasilla resident Philip Munger said, he asked the young mayor about her religious beliefs.
Palin told him that "dinosaurs and humans walked the Earth at the same time," Munger said. When he asked her about prehistoric fossils and tracks dating back millions of years, Palin said "she had seen pictures of human footprints inside the tracks," recalled Munger, who teaches music at the University of Alaska in Anchorage and has regularly criticized Palin in recent years on his liberal political blog, called Progressive Alaska.
The idea of a "young Earth" -- that God created the Earth about 6,000 years ago, and dinosaurs and humans coexisted early on -- is a popular strain of creationism.
What else can you say?
Polls
Three tracking polls that include 1 day post-debate (9/25 to 9/27) have Obama leading by 8% (Gallup), 6% (Rasmussen), and 5% (HotlineFD). The full effect won't be evident for 2 more days (they cover a 3-day spread). Of course you can't separate debate effect from McCain's DC stunt effect. And there is still an undecided or other vote of 6% to 11% in these polls.
I'm guessing that it's those previously uncommitted voters that Obama was going after in the way he handled the debate and that the polls will reflect that more in the next couple of days, when the 3-day spread will all be post-debate. This it, more of the undecided will swing into Obama's column.
Even more encouraging though is the electoral vote tracking at FiveThirtyEight: Obama is now leading in electoral votes 325.5 to 212.5. This is a rapid change and reflects CO, MI, VA, PA, and NM leaning strongly to Obama; OH, FL, and NV leaning to him; and even Indiana leaning slightly to him. In addition, he has made some inroads in MO and NC, so that they are only slightly leaning to McCain now.
Ralph
I'm guessing that it's those previously uncommitted voters that Obama was going after in the way he handled the debate and that the polls will reflect that more in the next couple of days, when the 3-day spread will all be post-debate. This it, more of the undecided will swing into Obama's column.
Even more encouraging though is the electoral vote tracking at FiveThirtyEight: Obama is now leading in electoral votes 325.5 to 212.5. This is a rapid change and reflects CO, MI, VA, PA, and NM leaning strongly to Obama; OH, FL, and NV leaning to him; and even Indiana leaning slightly to him. In addition, he has made some inroads in MO and NC, so that they are only slightly leaning to McCain now.
Ralph
Money
Now that the first debate is over, and FiveThirtyEight is showing Obama with a 317.8 to 220.2 margin in electoral votes (FL and Ohio now slightly leaning to Obama, VA definitely leaning, MI and PA definitely in his column, and even Indiana tied) the financial crisis/bailout got my attention again.
I can only go so far in trying to understand the complex system. Mickie Nardo researches it and explains it in (relatively) easy terms at 1 Boring Old Man (on list of links to the right), especially his post from last night "follow the (unregulated) money."
I did get some enlightenment on the other side of the coin from an NPR program, "This American Life," explanating why the credit market is so precarious. In simple terms I could understand, it explained that many big businesses operate on such a thin margin of liquid assets that they routinely borrow short term loans called "commercial paper" just to operate day by day.
They had a guy explaining that its his job each day to look at how much money his company has and how much they need that day, and then he calls up one of his lending sources and makes a deal like: give me $990,000 today and I'll pay you back $1,000,000 tomorrow. And they do this every day.
It's not that they're in dire straits; that's just the way they operate. On other days, he may find that they have surplus that day over what they need to pay that day's operating costs, so they will turn around and lend some out. Apparently they prefer to do this than to have a nice little pot of operating money. He explained that, most of the time, it's almost a clerical job to do this, it's just automatic. You see how much you need that day, and then make calls and arrange the loan.
But that's how precarious it is. When the lending banks get scared and decide not to lend (or don't have it) then within days a business like this could fail, even though it was considered solid a few days before.
It's all a house of cards in many dimensions and in all directions. And that's why people like Barney Frank and Chris Dodd say we have to do something quick to reassure the lending banks, so they'll keep making these loans. If they don't make these instant, short-term loans -- even relatively small, fairly solid businesses won't get operating money and will start failing quickly.
I hate the idea of bailing out Wall Street, but it's short-sighted not to. It's also short-sighted if we don't fix the systemic problem (deregulation) that led to this disaster.
Ralph
I can only go so far in trying to understand the complex system. Mickie Nardo researches it and explains it in (relatively) easy terms at 1 Boring Old Man (on list of links to the right), especially his post from last night "follow the (unregulated) money."
I did get some enlightenment on the other side of the coin from an NPR program, "This American Life," explanating why the credit market is so precarious. In simple terms I could understand, it explained that many big businesses operate on such a thin margin of liquid assets that they routinely borrow short term loans called "commercial paper" just to operate day by day.
They had a guy explaining that its his job each day to look at how much money his company has and how much they need that day, and then he calls up one of his lending sources and makes a deal like: give me $990,000 today and I'll pay you back $1,000,000 tomorrow. And they do this every day.
It's not that they're in dire straits; that's just the way they operate. On other days, he may find that they have surplus that day over what they need to pay that day's operating costs, so they will turn around and lend some out. Apparently they prefer to do this than to have a nice little pot of operating money. He explained that, most of the time, it's almost a clerical job to do this, it's just automatic. You see how much you need that day, and then make calls and arrange the loan.
But that's how precarious it is. When the lending banks get scared and decide not to lend (or don't have it) then within days a business like this could fail, even though it was considered solid a few days before.
It's all a house of cards in many dimensions and in all directions. And that's why people like Barney Frank and Chris Dodd say we have to do something quick to reassure the lending banks, so they'll keep making these loans. If they don't make these instant, short-term loans -- even relatively small, fairly solid businesses won't get operating money and will start failing quickly.
I hate the idea of bailing out Wall Street, but it's short-sighted not to. It's also short-sighted if we don't fix the systemic problem (deregulation) that led to this disaster.
Ralph
Low Bar = Breathing is a Victory
The problem with lowering expectations is that simply being able to breathe can appear to be evidence of stunning intellectual achievement.
Because McCain had such a horrible week, all he had to do was step onstage at the debate Friday and appear to be coherent and he would be seen as suitably presidential. That's what happened.
(By the way, did you notice that on Wednesday he 'believed' the financial crisis was so severe he had to suspend his campaign and fly to Washington, yet yesterday he spent the whole day in DC and never set foot on the Senate floor?)
With Palin, she has been so unremittingly clueless in her interviews that if she can string together two sentences, one without a slogan, pundits will say she 'reassured' the electorate that she is capable after all.
(By the other way, has there ever been an instance in history where the VP nominee was hidden from the press after the presidential debate, prevented from uttering a single word of commentary?)
I like Biden. He certainly has a base of knowledge, and can be funny and he has been through these debates before. All that should make him a shoo-in to show better than Palin.
But let's be honest. Did he ever win over voters in any of the debates he participated in while running for president? No.
Competence and knowledge from Biden will be seen as failure by the media, and a majority of debate viewers. Just as Obama's calm control was criticzed from the left who wanted him to be mroe passioante. Being able to speak as intelligently as a 5th grader from Palin will be seen as proof she could be president.
Furthur, if Palin directly attacks Biden she will be seen as tough. If Biden responds, even if his attacks are substantive, he will be accused of bullying. Biden has no chance to 'win' this debate because the type of aggressive debating he'd engage in were he debating another man will cause him to be criticised. So in essence, he cannot 'win' this debate.
What he needs to do is be as calm as Katie Couric and hope Palin will hang herself with her own pitard Thursday. Biden can only win by Palin losing.
Because McCain had such a horrible week, all he had to do was step onstage at the debate Friday and appear to be coherent and he would be seen as suitably presidential. That's what happened.
(By the way, did you notice that on Wednesday he 'believed' the financial crisis was so severe he had to suspend his campaign and fly to Washington, yet yesterday he spent the whole day in DC and never set foot on the Senate floor?)
With Palin, she has been so unremittingly clueless in her interviews that if she can string together two sentences, one without a slogan, pundits will say she 'reassured' the electorate that she is capable after all.
(By the other way, has there ever been an instance in history where the VP nominee was hidden from the press after the presidential debate, prevented from uttering a single word of commentary?)
I like Biden. He certainly has a base of knowledge, and can be funny and he has been through these debates before. All that should make him a shoo-in to show better than Palin.
But let's be honest. Did he ever win over voters in any of the debates he participated in while running for president? No.
Competence and knowledge from Biden will be seen as failure by the media, and a majority of debate viewers. Just as Obama's calm control was criticzed from the left who wanted him to be mroe passioante. Being able to speak as intelligently as a 5th grader from Palin will be seen as proof she could be president.
Furthur, if Palin directly attacks Biden she will be seen as tough. If Biden responds, even if his attacks are substantive, he will be accused of bullying. Biden has no chance to 'win' this debate because the type of aggressive debating he'd engage in were he debating another man will cause him to be criticised. So in essence, he cannot 'win' this debate.
What he needs to do is be as calm as Katie Couric and hope Palin will hang herself with her own pitard Thursday. Biden can only win by Palin losing.
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