Saturday, September 20, 2008

Simply put ...

Mr. Philadelphia boils it down to one paragraph:

...

Again, the problem is that lots of bad loans were made, lots of people made highly leveraged investments in those bad loans, and still more people bet on those loans by insuring them. The loans are bad. The mortgages are not going to be repaid in full. Housing prices are not going to magically shoot up 50% over the next 6 months. People gambled and lost and now the Democrats are racing to bail them all out.

...


As I said about the airline industry after 9/11 (remember that bailout?). They shoulda been allowed to go under and let the chips fall where they may. Darwinism works. Time for a little pain.

When Black Friday comes
I'll stand down by the door
And catch the gray men
When they dive from the fourteenth floor
When Black Friday comes
I'll collect everything I'm owed
And before my friends find out
I'll be on the road
When Black Friday falls you know it's got to be
Don't let it fall on me

[Lyrics]


...




Steely Dan - Black Friday

I'm Not Angry

Here's a cute one! Semper Fi, Don & Phil!

Legend In His Time

Two of my favorites. They both died young.

Kate Wolf & the Wildwood Flower
This song is dedicated to Gram Parsons




Thanks to Rock 1945.

Geiger's 'Toons

Just go see.

Palin to dump McCain?

All Spin Zone

Seems John McCain is so connected to the good old boys in Washington that he’s dragging down the ticket. Reports are that Sarah Palin is going to fire him. From Post Traumatic Stress Disorder News:

“If there is anyone who can get officials to fire someone she doesn’t like, it’s Sarah,” said an unnamed Republican spokesperson. “This will be a good move for the GOP,” said Charles L. Sonderheim of the Heritage Foundation, “Palin has been packing them in, while McCain can’t fill a McDonalds.”

Rules state that if the front runner is removed before the election, the vice presidential nominee become the presidential candidate. “We all know that God has anointed her to be president,” said Reverend Ed Kalnin, Palin’s former preacher, “so why delay the process, just like we shouldn’t delay Armageddon.”

. . .

There has been no word on who would be tapped as Palin’s vice presidential running mate. “We need to emphasize Sarah’s qualifications to be president by picking someone who is a little less qualified than her, but charming, of course,” said a top GOP spokesperson, “However this may take some time, although we have a lead on a pig with lipstick in Waterloo, Iowa that is dying to get off the farm.”


Some would call that humor, maybe even satire. I’m sure some of you will call it hyperrealism instead. Whatever, it’s there for your reading pleasure today.

Enjoy.

Face first into what!!!?

Charles M. Blow (If I had a name like that, I'da sued my parents and used the money to get my name changed.)

It turns out that the Republican enthusiasm for Sarah Palin is just as superficial as she is. They were so eager for someone to cheer for (because they really don’t like you) that they dove face first into the Palin mirage. But, on the issues, even they worry about her.

The visual of diving face first into anything that bimbo's got is horrifying! Might get my nose froze off, for starters. Excuse me, I gotta go direct the tank truck that just pulled up where to dump its load of bleach. In my ear...

McCain on banking and health

Paul Krugman



OK, a correspondent directs me to John McCain’s article, Better Health Care at Lower Cost for Every American, in the Sept./Oct. issue of Contingencies, the magazine of the American Academy of Actuaries. You might want to be seated before reading this.

Here’s what McCain has to say about the wonders of market-based health reform:

Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.


So McCain, who now poses as the scourge of Wall Street, was praising financial deregulation like 10 seconds ago — and promising that if we marketize health care, it will perform as well as the financial industry!

Oh fucking swell.

Don't worry - the government will never socialize health care, you know, that would be, like, well, French or Canadian, or commie, or civilized or something. Besides, it would help out people who aren't big political contributors. No, they'll just socialize the financial sector, who are. That's American!

Try not to get sick.

Moyers on the Meltdown

If you missed Bill Moyers last night, please watch it. In two parts, with transcripts.

Part one:

BILL MOYERS: Welcome to the JOURNAL. The news this week drove us to pull THE GREAT GATSBY off the bookshelf and read what F. Scott Fitzgerald wrote of his protagonists, the Buchanans: "They were careless people, Tom and Daisy — they smashed up things and creatures and then retreated back into their money or their vast carelessness or whatever it was that kept them together, and let other people clean up the mess they had made."

GRETCHEN MORGENSON: There was a lack of accountability where a banker didn't care whether the loan was repaid. And the Wall Street firm that sold the securitization trust didn't care if it ever got paid back, because they were happy with their commission. The broker making the loan didn't care, because he got, all the way up the ladder to the CEOs of these companies, who are allowed to walk away from a financial cataclysm with huge payments.

BILL MOYERS: Should they be required to return the loot?

GRETCHEN MORGENSON: Yes. Why not? Claw that back. But does anybody ask for that? No.

FLOYD NORRIS: The government is nationalizing companies. They nationalized Fannie Mae and Freddie Mac. And that made a little bit of sense, since we'd always thought Fannie Mae and Freddie Mac had an implicit government guarantee, whatever that meant. And now they've nationalized AIG. They own eighty percent of the company. They have lent money to the company at very strict terms.

For this company to somehow pay that loan back will require amazing competence in managing things. And I don't think anybody expects them to ever do that. They're probably going to liquidate AIG. It amazes me. I'm not sure it was unnecessary, as I said. But I can only envision what the right wing would be saying if a liberal Democrat had decided to nationalize the biggest insurance company in America. I don't think you'd be hearing a lot of praise for it.

Part two:

KEVIN PHILLIPS: It's been a bipartisan phenomenon. You can go back to the 1980s and say Reagan and George Bush, Sr., got a bubble started. Clinton got in and got an even bigger bubble going. And then George W. Bush with the biggest bubble of all. But it's not that the Clintonites didn't play. They did. Bob Rubin as Secretary of the Treasury — I mean, if he was a Hindu and he was being reincarnated, he'd come back as a pail because this guy bailed out everything you can imagine. They had the Mexican loan bailout. They had the long-term capital management bailout, the Russian Southeast Asian currency bailouts.

KP: So I think what we're looking at here is an attempt really like a drunk will feel better and get over his hangover better sometimes just by having more liquor. And I think what we're seeing with the actions of the Federal Reserve Board is the people who are the arsonists, the people who pumped it all up, who blew up the bubble are now racing to show up in firemen's hats and say, "We're gonna solve it. We're gonna take care of all this. Oh, and by the way, we're gonna keep pumping in the gasoline that we pumped in before that made a good flame." But, you know, nobody knows that.

KEVIN PHILLIPS: Well, just to give you an example of how many there are, Alan Greenspan has finally decided to admit, you know, this may be one of those once-a-century biggies. Well, what makes it fascinating is that I sometimes use the description "seven sharks." There are seven sharks in the tank with the economy.

And the first is financialization because we're so dependent on this industry that's sort of half lost its marbles. The second is that you have this huge buildup of debt, absolutely unprecedented anywhere in the world. The third is you've now got home prices collapsing. The fourth is you've got global commodity inflation building up.

The fifth is you've got flawed and deceptive government economics statistics. The sixth is that you've got what they call peak oil where the world is, to some extent, running out of oil. So it's not just commodity inflation, it's a shortage of oil. And then the last thing is the collapsing dollar. Now, whenever you get this sort of package in one decade, you got a big one. And when Greenspan says it's a once a century, I think it's another variation but on a par with the Thirties.

BILL MOYERS: What do you think when you hear John McCain and Secretary Paulson say that the fundamentals, however, are solid?

KEVIN PHILLIPS: Well, John McCain once said he didn't know anything about economics. And half the time what he says, you know, proves that on a day-by-day basis. I don't think we have a sound economy at all. Not remotely at this point. I mean, there are, like, ten yardsticks I could use. Paulson is your typical Treasury Secretary guy that has to deal with it. And everybody knows he has to exaggerate. He has to say all the Hoover type stuff about how strong the economy is and the recession's going to be over in three months and that sort of stuff. I don't really credit these people very much. But, frankly, I don't credit the Democrats either.

Quote of the Day

Dday:

This has been a great week for the ownership society. Not only do we all own an insurance company, but now we've got ourselves hundreds of billions in bad debt. I don't know what to do with it all first.

I'll take it ...

Anyway I can, but Jeez, folks, could ya be a little less shallow? Montag:

A new poll says Americans, by a margin of 50 to 47, would rather watch a football game with Barack than with John. Thank God this important issue has been decided early so people can make their choice with clear facts ...


Every time I go to Europe and people find out I'm an American, their faces get this strange look and they all ask the same question. "What are you people thinking?"

Now I can tell them. "Not much."

Show me da ...

You know how it goes:

...

We don't have ENOUGH MONEY to fix Social Security
We don't have ENOUGH MONEY to fix Medicare
We don't have ENOUGH MONEY to provide health care to ALL Americans
We don't have ENOUGH MONEY to help out Americans losing their homes
We don't have ENOUGH MONEY to help all our veterans returning from war

BUT

We DO HAVE ENOUGH MONEY to bail out Fannie Mae and Freddie Mac
We DO HAVE ENOUGH MONEY to bail out Bears Stearns
We DO HAVE ENOUGH MONEY to bail out AIG
We DO HAVE ENOUGH MONEY to pay for an unnecessary TRILLION DOLLAR war


When the LITTLE GUY needs help, they scornfully say, "GET A JOB!"
But when of their BIG GUY CRONIES need a bailout, what do they say?

SURE, NO PROBLEM. Where's the checkbook?

...


Privatize the profits and socialize the losses. It is, always has been, the Republican way and we are, always have been, the ones who have to pay for it.

Great thanks to Dr. Fez-head for the link.

Republican imbeciles ...

They're everywhere.

But Gabe Schwartz a special kind moron. Not only does he say stupid Republican shit:

...

In an interview filmed the afternoon of Sept. 3 and posted on the Web site LinkTV.org, Schwartz was candid about how he envisioned change under a McCain presidency. "Less taxes and more war," he said, smiling. He said the U.S. should "bomb the hell" out of Iran because the country threatens Israel.

Asked by the interviewer how America would pay for a military confrontation with Iran, he said the U.S. should take the country’s resources. "We should plant a flag. Take the oil, take the money," he said. "We deserve reimbursement."

...


But he gets himself robbed by a woman he picked up (a loose interpretation of the term; more like she picked him out as an easy mark) at a bar while at the RNC convention:

...

He met her in the bar of the swank hotel and invited her to his room. Once there, the woman fixed the drinks and told him to get undressed. And that, the delegate to the Republican National Convention told police, was the last thing he remembered. When (Gabriel Nathan Schwartz) awoke, the woman was gone, as was more than $120,000 in money, jewelry and other belongings.

...


Who takes that much of anything with them to a 4-day convention? We were gone for 3 weeks in Europe and all our possessions (including Mrs. F's jewelry and cash) didn't total a quarter of that.

Another Rethug asshole who got tripped up by his own dick. Heh ...

Friday, September 19, 2008

Sigh ...

One last Mediterranean sunset before I let reality come back. Livorno, Italy two nights ago.



Click to en-nicen.

Of course ...

They're lyin' mofos.

As I cruise the interwebs, getting back up to speed with Left Blogtopia (y!sctp!), most folks are talking about the economic meltdown (I watched Europe freak over it during the last week), two posts struck me. First, Avedon talks about the philosophy (the reason we love her) of Democratic financial policy contrary to the line of bullshit the Rethugs have been feeding us over the past 4 decades:

...

I understand why people don't think much about this - we're always being told that the Republicans are "fiscally responsible" and good for business and so on, and we're also encouraged to think that our own experience is isolated and that out there in the rest of the world things really are better under the Republicans. Sure, it was easier for you to find a job in the '60s or the '90s, but the corporate media is always there to tell you that things are really fine with the Republicans in charge. Totting up the numbers takes a lot of research and time, and it's only recently that it's become relatively easy to do all that research on the internet instead of spending hours, days, even weeks, sniffing dust in libraries. Even so, it's still dry, time-consuming work.

But we repeat it for a while in our small numbers, and sooner or later more and more people are looking at the numbers and remembering that, by the gods, things really are better under Democrats!


...


And our pal PhysioProf naturally puts a sharper point on it (the reason we love him):

... Every decent citizen of the United States needs to know in no uncertain terms that the Republican Party caused this to happen through their intentional policy of privatizing gains by their greedfuck cronies while socializing their losses, and that a vote for McCain-Palin is a vote to continue destroying everything that normal decent people hold dear.


It'd be nice if the news media figured out that John McCain is a Republican and he supported the Republican 'economic' policies that allowed this mess to happen. They act as if McLame was kept in a stasis field since he was sprung from the Hanoi Hilton and had no influence on shaping the platform of his party.

Get back to work ...

Ya lazy bastid.

Vacation's over and I got my last two posts up, one from the Bastion of the Bourgeoisie and the other from romantic Florence.

I'll be back to normal blogging tomorrow so Gord can take a breath. You been prolific over the past few weeks, pal. Thanks for holding down the fort and thanks to all the readers who came along with us.

Hello Stranger

This is from back when Ricky Skaggs could still see his feet and before Emmylou got her hair chromed. This tells ya all ya need to know:

après son premier passage à Paris au Théâtre Mogador (1978), voici un extrait de son second passage en France à l'hippodrome de Pantin (1980), on peut reconaître entre autres Ricky Skaggs et Albert Lee




I always watch the thumbnails that come up after the video. Here's the same song fifteen years later. I like this one better. If she's going to grow like that every fifteen years, I can't wait for 2010!

Number Five and all Alive

EssEffChron

The Marine battalion that has been to Iraq more often than any other returned home this week, and unlike previous trips to that combat zone, not a single leatherneck was lost.

"It was a pretty smooth tour," said Maj. Kevin Norton, second-in-command of 3rd Battalion, 4th Marine Regiment. "I think a lot of these Marines would rather have gone to Afghanistan."

The battalion was among the units of the 1st Marine Division, based in Camp Pendleton and Twentynine Palms, that took part in the invasion of Iraq. They were the Marines who helped pull down the statue of Saddam Hussein in Baghdad's Firdos Square, the moment that effectively marked the end of offensive combat operations in the invasion.

On this seven-month tour, there were no fatalities and only a handful of wounded. One Marine was injured badly enough to be sent back to the United States early.

This was made possible by a nearly total reversal of the level of violence in Anbar province, which for a time could not be mentioned in a story without the term "restive" in front of it. But the tribes of Anbar changed their way of thinking in the last year or so, and decided to side with the Americans and fight the foreign jihadists who had brought fear, intimidation and death by beheading to both the Americans and the local Iraqis.

Known as the "Awakening" movement, the decision by the Sunnis of Anbar, aided by money from the Americans, has meant a precipitous drop in violence in that region, which is west of Baghdad and stretches to the Syrian border. It includes the cities of Fallujah and Ramadi, once two of the most dangerous places on Earth.

Welcome home, 3/4. I hope the era of the absurdity of five combat tours in five years is almost over.

One of the reasons behind the "Awakening" movement in the Sunni Anbar Province was the knowledge that the strongest tribe wins and the local tribes wanted to be on the winning side. There's a lot more to it, of course, but it's a factor.

Bing West (site, bio) has a new book out called "The Strongest Tribe". Here's some excerpts from a review by the Austin American-Statesman:

West, an infantry officer in Vietnam who has written two prior books about the Iraq war, finds abundant evidence of wisdom and bravery among American warriors and faults the press for focusing on mistakes instead of heroism. Yet he finds a corresponding level of incompetence among U.S. civilian leadership — led from the top by an uninvolved and credulous president.

George W. Bush, writes the author, forfeited a president's role to hold civilian and military leaders accountable and rewarded loyalty above performance. [...]

In giving Franks, Bremer and Tenet our highest award, West concludes, Bush "rewarded loyalty to the president rather than national achievement, smacking of self-justification for the principals in a mismanaged war far from won."

West's critique of the conduct of the war echoes that of Washington Post reporter Thomas Ricks' "Fiasco," although that devastating analysis was published in 2006 and thus doesn't recognize the turn in the war. And where West trumps Ricks or any other journalist is in his knowledge of tactics and strategy and his passion for ordinary soldiers and Marines.

West artfully describes "the stack," in which a dozen Marines line up outside the courtyard wall of a house, shouting and stomping rhythmically, trying to provoke insurgents into firing prematurely.

"Usually they didn't," writes West:

The marines then breached the iron outer gate, ran across the tiny patch of grass, and flattened themselves along the wall next to the front door. On signal, the door would be smashed in and four marines would rush into the front room, each pointing his rifle toward a different corner, each betting his life that none of the others would freeze or not shoot quickly enough.

You push open the door and rush in, pivoting to cover your sector when there's a flash and the firing hammers your ears. You can't hear a thing and it's way too late to think. The jihadist rounds go high — the death blossom — and your M4 is suddenly steady.

That takes balls, training, discipline, and faith in your fellow Marines. That's why the Marines were sent to deal with Anbar in the first place. Give the worst situation to the craziest motherfuckers.

As an Iraqi colonel said to him in 2004, "Americans are the strongest tribe."

Please read the rest of the review.

I saw General West on TV the other night. He doesn't get into the 'coulda, woulda, shoulda' part of actually starting the criminal clusterfuck in Iraq, just that we are where we are over there. He focuses on the military and political realities. I've read his two other books about Bush's War and they were about the troops and their bravery, and how Bush's politics got a lot of them killed, particularly in Fallujah.

I am ordering this book right away, and I will recommend it to you sight unseen on the basis of his previous work.

Dear United States, Welcome to the Third World!

The rest of the world could not be raised to our standards by uplifting them, but greed, corruption, and criminality have accomplished the same thing by lowering us. The ruling class doesn't care. They made themselves rich and that's what matters.

Rosa Brooks

It's not every day that a superpower makes a bid to transform itself into a Third World nation, and we here at the World Bank and the International Monetary Fund want to be among the first to welcome you to the community of states in desperate need of international economic assistance. As you spiral into a catastrophic financial meltdown, we are delighted to respond to your Treasury Department's request that we undertake a joint stability assessment of your financial sector. In these turbulent times, we can provide services ranging from subsidized loans to expert advisors willing to perform an emergency overhaul of your entire government.

We hope you won't feel embarrassed as we assess the stability of your economy and suggest needed changes. Remember, many other countries have been in your shoes. We've bailed out the economies of Argentina, Brazil, Indonesia and South Korea. But whether our work is in Sudan, Bangladesh or now the United States, our experts are committed to intervening in national economies with care and sensitivity.

We thus want to acknowledge the progress you have made in your evolution from economic superpower to economic basket case. Normally, such a process might take 100 years or more. With your oscillation between free-market extremism and nationalization of private companies, however, you have successfully achieved, in a few short years, many of the key hallmarks of Third World economies.

Your policies of irresponsible government deregulation in critical sectors allowed you to rapidly develop an energy crisis, a housing crisis, a credit crisis and a financial market crisis, all at once, and accompanied (and partly caused) by impressive levels of corruption and speculation. Meanwhile, those of your political leaders charged with oversight were either napping or in bed with corporate lobbyists.

Admittedly, your transition to Third World status is far from over, and it won't be painless. At first, for instance, you may find it hard to get used to the shantytowns* that will replace the exurban sprawl of McMansions that helped fuel the real estate speculation bubble. But in time, such shantytowns will simply become part of the landscape. Similarly, as unemployment rates continue to rise, you will initially struggle to find a use for the expanding pool of angry, jobless young men. But you will gradually realize that you can recruit them to fight in a ceaseless round of armed conflicts, a solution that has been utilized by many other Third World states before you. Indeed, with your wars in Iraq and Afghanistan, you are off to an excellent start.

Perhaps this letter comes as a surprise to you, and you feel you're not fully ready to join the Third World. Don't let this feeling concern you. Though you may never have realized it, you've been preparing for this moment for years.

Since about 1980.

*Read about all the new 'shantytowns'. See also 'Hooverville'.

Thursday, September 18, 2008

McCain: Dead Man Walking

Alternet

Over 2,200 Doctors Agree: John McCain Should Release His Medical Records

Why is McCain so secretive about his health history?

But now we're not the only ones crying foul on this issue anymore. Over 2,200 medical experts have highlighted the urgent need for McCain to make his health records public. Just read from a couple of them who agreed to let us publish their comments here.

Joseph Mungai writes:

I used to practice medicine nationally certified in the field of psychiatry as a registered nurse. Chemotherapy has been shown to impair memory and the ability to concentrate and think clearly. PTSD can also negatively effect cognitive function and temperament. However, we must be careful here. Remember the Patriot Major General Smedley Darlington Butler was accused of being mentally ill after exposing a fascist plot here in the U.S. by bankers and industrialists. Certainly we can all agree that his experience leading to many medals of bravery effected his thought process and view of the world. Nevertheless, changed by war he chose to speak truth to power to defend and protect our Constitution, Soldiers and Security of this nation -- above all else. Given other factors involving Senator McCain, like age related diseases and side effects of the other medications he takes we must have his entire medical record collection. His treatment team must be interviewed to find out the whole truth. After all, what kind of background checks and testing are required to become a U.S. secret agent?

And Maggie Jochild has written an even longer post entitled, "John McCain, Dead Man Walking?" which is excerpted here:

Last week, when I got the letter from Robert Greenwald talking about John McCain's refusal to release his medical records to fair scrutiny, the fact that there are 1,000 pages of them (I create medical records for a living, 1,000 pages is EXTREME), and the news that he has had malignant melanoma, deep primaries with removal of lymph nodes, my immediate thought was "Then he's dying." If he were to be elected, he'd have an almost 2 out of 3 chance of having a recurrence if he doesn't have one already. This is not the kind of cancer you count on escaping from. This is not Stage II, as it has been reported: Stage II by definition does not have lymph node involvement. By definition, it must be either Stage III or Stage IV.

Dementia and cancer. McCain stands a very good statistical and actuarial chance of not surviving a first term. It's becoming clear to me that this is exactly what the neocons are counting on to get their own president, whether by his death or non compos mentis.

McCain's Brain Fails On Spain

Aravosis

This isn't funny. It's actually quite serious. We may have the first evidence, on tape, that McCain's age, or illness, or both are catching up with him and he's losing his mental faculties.

When asked about Spain and Zapatero, by a Spanish reporter for a Spanish newspaper, McCain responded about Mexico and Latin America. A reader suggested something that Josh had already considered, that perhaps McCain thought the reporter was talking about the Zapatistas in Mexico, the guerilla group. But that's not possible as the reporter clearly said she was talking about Spain and Spain's leader, Zapatero. She told McCain this twice. Let me tell you exactly what she asked McCain (per the translation):

"Senator, finally, let's talk about Spain. If you're elected president, would you invite President Zapatero to meet with you in the White House?"


McCain then gives this odd answer about America's friends and America's enemies. He also, oddly, talks about Mexico (why Mexico? The question was about Spain) and how he'd invite friendly leaders to the White House. She then asks him again, would that invitation include President Zapatero? He says again that he'd have to review relations first, blah blah. She then says again, "so you'd have to wait to see, so would you meet with him in the White House?" He again repeats his weird statement about friends and enemies. McCain also throws in, oddly, to the Spanish reporter, when she's asking him about meeting the Spanish president, a line about the importance of our relationship with Latin America (this is now the second time he answered a question about meeting the president of Spain with an answer about Latin America). She then says to McCain one last time:

"Okay, but I'm talking about Europe - the president of Spain, would you meet with him?"


This time, there was no room for confusion. McCain then gives this very bizarre answer:

"I will meet with any leader who has the same principles and philosophy as us in terms of human rights, democracy, and freedom and I will stand up to those who do not."

[...] The interview is absolutely bizarre, especially in that it sounds like McCain wasn't even lucid, it sounds like he simply doesn't have complete control over his faculties anymore. And judging by the fact that just a few months ago McCain was fine with Zapatero, it sounds like McCain simply wasn't quite all there any more during the interview. He got horribly confused and didn't know what was going on.

This is just incredibly disturbing. And remember, this is hardly the first time in the last year that McCain has become confused about his signature issue, foreign affairs. It's happened a lot in the past year, and it never happened before. There's a pattern here, even if in polite company the media isn't supposed to talk about. McCain is having trouble focusing and understanding what's going on around him. He gets increasingly confused. And that's just scary.

This may be why McCain's last unscripted press conference was 36 days ago. He's losin' his marbles. We can only hope he loses them publicly before the election in a big enough way the MSM has to take notice.

If he gets in, the neocons may not have to kill him to get their she-devil president, just declare him incompetent.

Update:

Go see Neoconservatives plan Project Sarah Palin to shape future American foreign policy.