Lou gets it!!!

I was listening to Lou Dobbs yesterday and was at first surprised to hear that he was cheering the failure of the rescue (wall street bailout) package in the house. I thought sure he would chime in to blame the house republicans for the failure, but he took the high road and cheered it for the right reason. We don't need the government (the worst run company in the history of companies) to try to run the financial markets. We need to get rid of the bad regulators, add some good oversight of the markets and let business take care of business. There will be some pain for a while, and there may even be a company or two worth investing in. Note I said investing... We should only enter into an agreement to help a company if that help will be an investment that looks like it will pay dividends to the treasury. If it will not, it's not a company worth saving. Let's stop listening to the doom and gloom of the white house and the congressional leadership. Unbelievable at this point that Pelosi and Reid are agreeing with Bush... they want programs and more bureaucracy, nothing else. I think the leadership believes that if they support this bailout, they can then come back to the public later and get more socialist programs passed. The madness has to stop. Lets all take a breath and think about this. Call your representatives in congress and tell them to stop using the scare tactics and get some real advice from some good economists. Then they'll see that this whole bailout mess is just that, a mess.

Torpedoed by Pelosi...

House Speaker Nancy Pelosi torpedoed the financial rescue plan on the floor of the House of Representatives on Monday when she made a highly partisan speech blaming the Bush administration for the problems that face our economy today. She said the reason for this bailout is that in the last 8 years the irresponsible economic policies of the current administration have brought us to this point. The truth is that Pelosi never wanted this bill passed and knew that this would kill any chance of passage. What the DNC wants is for the economy to completely bottom out, then blame the republican party for the failure and tell the country that the democratic party will fix everything. Of course, if you have studied politics at ALL, you know that this will evolve into a 21st century version of the new deal. We are inching closer to socialism folks. With Obama's ideas for government control of EVERY aspect of our lives and the democratic party in control of both houses of congress, we are now living in VERY dangerous times. Harry Reid and Nancy Pelosi wanted a political hockey puck to give to Obama. I just hope that the American public can see through this and will remember these tactics on November 4th.

They've been through it...

Since this whole bailout thing started, I've been wondering how I should address our congress and President, along with the two candidates, and start a campaign to make some sense out of what we are about to embark on... In 1992, Sweden was in the midst of what looks a lot like what we are going through right now in the US. Their financial systems were in complete collapse, banks falling apart, property values in the toilet... sound familiar!? Thie way they approached it was risky, but in the end they were able to bolster their lagging economy and now they are doing quite well. Here's the gist of it...

Of the 70 billion crowns ($10.7 billion) the government pumped into the banking system, it recovered about half from asset sales. The state still holds a $7 billion stake in Nordea , the Nordic region's biggest bank.
The economy rebounded relatively quickly and entered the current downturn in better shape than many European peers.
In a move similar to that taken in Sweden, U.S. authorities have put forward legislation that would authorise the Treasury to buy as much as $700 billion in bad assets to be sold later.
This comes on top of a rescue of American International Group and the takeover of housing finance firms Fannie Mae and Freddie Mac.
But a bailout may not be enough.
U.S. policy makers might also have to pay more attention in future to the country's fiscal and monetary framework. Sweden's focus there was seen as a vital part of its success story.
Spurred by the crisis and rising debts, the Swedish government embarked on a policy of fiscal stringency, with the goal of a budget surplus over the business cycle. The central bank was given more independence and set a specific inflation target.
"It was quite important to create this kind of economic policy framework to regain credibility for fiscal and monetary policy and I think that is quite important for the United States," said Robert Bergqvist, chief economist at Swedish banking group SEB.
Sweden's government now runs a healthy surplus and has the ammunition for pump-priming to counter the effects of the global downturn. Inflation, in double digits through much of the 1980s, has been kept under tight control.
The banks also appear to have taken the lessons of the early 1990s to heart and emerged relatively unscathed from the subprime crisis and the following credit crunch.
NO MIRACLE
While Sweden can provide a roadmap, the scale and complexity of the problems faced across the Atlantic complicate the U.S. rescue plan.
Sweden has a long tradition of central control, while U.S. politicians are likely to find agreement more difficult.
Assets taken over by Swedish government were relatively easy to administer and sell, while a devaluation and a recovery in the global economy helped the country return to growth.
The financial instruments at the heart of the U.S. problems are far more complex and the consequences of authorities' actions likely to shape the global economy.
One lesson the Nordic banking crisis can impart is that rapid, comprehensive and prudent action can mitigate the effects of a crisis in the longer term. But it has a more gloomy point to make about short-term developments.
"The other striking lesson is that despite extensive policy support, all three (Nordic) economies experienced deep recessions," JP Morgan added.

(some of the information in this post culled from http://www.guardian.co.uk/business/feedarticle/7820460)

Hil wont be there...

So, it appears Hilary Clinton is gearing up for her 2012 Presidential run! Last week, the Senator from New York was invited to speak at a rally for a Jewish-American group. This was an anti-Iran rally and initially she said she would attend. The group then invited Gov. Palin and she accepted as well. It seems Gov. Palin decided that showing support for Israel was more important than whatever political disagreements she may have with Clinton to show solidarity towards the good cause. Well, the Hon. Mrs. Clinton didn't see it that way and decided that once Palin was invited and accepted the invite that she would not attend, saying that it would be a political partisan event if Palin and her appeared together... HUH? Sarah Palin is a Republican, Hilary Clinton is a Democrat... Bi-partisan, right? Not in the mind of the ever campaigning Clintons. Hilary saw this as an opportunity to slight Obama by not showing up at the rally. Sarah Palin will be there and will answer questions and in the end it will cost Obama the badly needed Jewish vote. This move was made solely to hit Obama... Remember at the DNC, she didn't articulate that she wanted Obama in the White House, just a Democrat... What she really meant to say was that while she was making nice at the convention, Clinton politics would be the status quo and she would begin her campaign in earnest for the 2012 Democratic nomination, where she can say "see, I told you so, I am the better candidate... just look at who's in the White House right now... It's not a Democrat!" Way to go Hil... Way to show your true colors!

First mobile blog.

This is my first attempt at blogging from my Shadow. Is blogging even a word? I guess I'm officially in the 21st century now, eh?

Volleyball Love...

Apparently, the Chinese female beach volleyball team REALLY like the American girls! I found this pic on a radio station website in San Antonio, Texas... Strange thing... these Chinese women have some very masculine arms!

Tom Brady bulletin....

It's official, Tom Brady, the league MVP for the last hundred years is out for the season with a bad knee injury. What does this mean for the AFC? Is Matt Cassel good enough to carry them to a conference championship? What are the implications of the Indy loss to Chicago!? As a Cowboys fan, this is intriguing stuff. This opens the door for a great NFC team (Dallas Cowboys) to rise to dominance. Everyone knows that winning one gives you an incredible confidence boost, so this is the year that the 'boys need to get it done. They started off right Sunday with a big win over Cleveland, but Romo needs to stop throwing interceptions. So, here's to the Cowboys and a great '08!!! It's time for a return to national domination!

Jordin Sparks says she will remain a virgin, for now...

So, some Hollywood freak calls the new trend of celibacy among young people "stupid". Luckily one new celebrity thinks that this is garbage. The American Idol winner said on the VMA's that she too is one of those who is saving herself for marriage. So the host of the awards show can stuff it. These are good kids who want to wait. Good job Jordan... She told the British playboy that not EVERYONE wants to be a slut!!! PERFECT!

Joining Ms. Sparks in her rebuttal were, The Jonas Brothers (the kids who wear the "purity rings"), Miley Cyrus and Selena Gomez. Way to go kids! Hang in there!

Sarah Palin and the DNC

I've watched with great anticipation to hear what Sarah Palin would say, how she would carry herself in the wake of the massive attacks that hit a mere 24 hours after she was named the VP pick of Sen. John S. McCain. I am truly impressed with her ability to take the punches and deliver some very effective punches of her own. NOBODY knew what to expect of her on Wednesday, but she proved to all of us that she is not afraid of the challenges that will be placed before her.

Those of us who are small business owners, tax payers and family folks can be proud of the performance of Sarah Palin. Our future looks bright with Mrs. Palin headed to Pennsylvania Ave. The media lambasted McCain for making this choice, then dug for ANYTHING they could dig up on her... They even suggested that her four month old son was indeed the son of her 5 month pregnant 17 year old daughter. That's not even physically POSSIBLE! Women, can you become pregnant, while you are pregnant!? I don't think so.

Democrats are scared. All the party cares about is getting a Democrat into the White House, nothing else. You could hear that in the speeches of Clinton and Biden. To them the election is about it being "their turn" to rule. In America, it's not about who's turn it is, rather who will be the best person for the job. John McCain is ready to lead NOW, not after a break-in period of several months or years. Sarah Palin is ready to lead NOW, she proved that over the last 12 years as an executive in Alaska. As she said in her speech, "a small town mayor is a little like a community organizer, except that your have actual RESPOSIBILITIES as mayor". While Obama's name may be on some legislation, he has NEVER authored a single piece of ligislation... never reached across the isle to solve a problem... has sounded the retreat from Iraq. I am proud to be a Republican, even with George Bush in the White House, at least you always know where he stands. The is not a weathervane on the top of the White House keeping track of polls in order to make decisions right now, and there won't be with McCain. You can bet that the Democrats with Obama will place the weathervane on the roof so they know what decisions to make.