A nice way to stay in touch with loved ones, and a convenient way to share my opinions without having everyone just walk away...wait a minute, where are you going? I wasn't finished..

Wednesday, May 16, 2007

Belated Happy Mother's Day

We had a real nice Mothers Day. Noah and Lauren came over in the morning and brought breakfast with them. Huge apple pancake with cinnamon and chopped nuts on it, and a delicious cheese and bacon quiche. Lauren says the secret to a great quiche is all cream, no milk. Yummy

They brought momentoes back from New Orleans including a string of beads for me commemorating ND's Sugar Bowl appearance. Also a boxed mix for something like scones. We were talking about good stuff from New Orleans and I mentioned how much I'd enjoyed some chickory coffee we'd had once, but which I hadn't found in stores since. They told me you could get it at Meier's, then ran out to the car and bought a can in.

I'm going to fix breakfast Saturday New Orleans style.

Then we went to Mark and Steffy's for a cook out. The weather was beautiful and Jason and Dee and Dee's siter Michelle were there and we sat out on the deck and watched the boys play in the yard. And then Mark grilled burgers and Brats. After I gave Malachy a cup of juice with the top not properly secured and he spilled down his front Steffy changed hin into his Spiderman costume. He takes the Super Hero role pretty seriously. I think Janett posted pictures.

My trading journal

I'm maintainig a journal of my trading activity, and so my writing time and energies have been going into that instead of my blog. Here's a sample:

Before I get back to discussing the buyers and sellers in the future markets, I should review this Fibonacci number thing. Fibonacci was a Pisan whose father worked as a customs oficial in Algiers. The young man observed that mathematics was a lot easier using Arabic numbers than using Roman numerals. When he returned to Europe he promoted the use of the Arabic system. He was also a mathematical theoritician and in a book published in 1302, one of the problems he posed was a question about how many pairs of rabbits would be bred over a period of time starting with one pair of rabbits. The formula he devised [F(n) = F(n-1) + F(n-2) for n = 3, 4, 5, ..]produced the series of values, "1, 1, 2, 3, 5, 8, 13, 21, 34, 55, ...," The Fibonacci series reportedly has been observed in a lot of natural phenomena so mathemeticians continued to tinker with it. One tinkerer observed that if you divide one number in the series by the previous number in the series you get 1.618034. This becomes observable when you get out to the seventh and eight number of the series, but then this number continues to be the answer for every such calculation. As I said Fibonacci series are found in botany, biology, architecure, and music, so eventually someone tried to apply it to market activity. It appears that .618, its inverse .382, .236 (the difference between .618 and .382), .764, thw additive inverse of ,236 and .500 are levels within the range of a market high and low where retracements occur. I don't believe the Fibonacci "Golden Number" has any occult powers. But the retracement pattern seems to work so I refer to them.

Even more esoteric are the Gann squares, which I'm not ready to tackle yet, but which we will discuss soon.

I guess in this connection I should also reiterate that I dont think technical analysis has predictive powers. What I think is that in the fog of battle it tells you who's winning at the moment. Last night before I went to bed with gold rising over 674 it appeared that the bulls were winning, but the technical anlysis said we should be in retreat, and today as the price fell by $12 I appreciate the negative messages the charts were providing. (My apologies to Harry Roberts, my statistics professor at the U of C whose analysis of market activity repudiated teschnical analysis, and gave rise to the "random walk" theory.)

Saturday, May 12, 2007

Must Reading (Here I go Again)

What determines the price of gold? Unlike other commodities, it can't be eaten or drunk, it can't be used in construction, and due to its cost has limited industrial applications. Because it is malleable, doesn't decay, and because of it's beauty it has been used to create jewelry, and that use is still the source of the greatest commercial demand. While world-wide, this market is most vital on the Indian sub-continent and particularly in the spring wedding season.

Historically, gold was a medium of exchange, more efficient than barter and more transferrable than an IOU. Because it was universally valued and accepted in commercial transactions, the wealth of nations was defined how much gold was stored in its treasury. In fact it was only seventy-five years ago that nations stopped backing their currencies with stores of gold, and subtituted US dollars for gold as reserves in their treasuries. And it was only thirty-five years ago that the US government stopped backing its currency with gold in transactions with other nation's treasuries. So, until thirty-five years ago gold remained at the foundation of the world economic order.

America's preeminence as a world power enabled the US to declare that the dollar was to be substituted for gold and required no store of value to back up its worth. The US was supported in this bold assertion by an arrangement with monarchs of the Gulf oil states that the all oil sales would have to be transacted in US dollars. In return the US guaranteed the security of these ruling families. Thus every nation in the world needed dollars to pay for their oil, and oil was essential to economic growth in the decond half of the twentieth century. The Gulf states soaked up all the excess dollars in the world, and bought US Treasuy debt, funding the US governments deficits. It was a cozy relationship, marred only by the oil producing states banding together in 1973, and demanding that the price of their oil be increased from $3 to $12. Since then the price of a barrel has risen to over $60 per barrel. The oil producing nations knew that since going off the gold standard the US was printing more and more money which was worse less and less and they weren't willing to accept the new dollars as though they were pre-1971 dollars. This cloud had a silver lining for the US. Since other oil consuming nations had to pay for oil in dollars, the US could run large trade deficits and the nations ending up with an excess of dollars would spend them on oil, and the oil producing states would buy more bonds, continuing to fund the US governments growing deficits.

Other trading partners realized that the dollar was losing value as well. Our trade partners were willing to accept dollars of diminishing value in return for their exports in order to keep their factories running and their workers employed. Then they used the dollars to purchase the oil they needed. The problem is that this system worked too well for the US. Importing became cheaper than producing and US industries started moving overseas to hire cheap labor and export goods back to the US. Our trade deficits with the Japanese and Chinese grew to truly unhealthy proportions. But, as our European allies had previously done, the Asians continued to accept dollars in order to keep their factories running and their people employed. The Asian exporters found it worthwhile to accumulate more dollars even than they needed to buy oil, because they could use those dollars to build factories and infrastructure. At the same time the US corporations were giving the Chinese the technology to be as efficient as the most modern producers in the US.

In order that the American worker didn't realize that even though his wages remanined the same, he was getting poorer because the dollars he was paid in were worth less, the government encouraged the import of cheaper Chinese goods and we entered the age of Walmart. Even cheaper imported goods wouldn't have offset rising prices of oil and other necessities for the American worker so the Federal Reserve Bank created more money which became available to the public through agencies like Fannie May (The Federal National Mortgage Association) as mortgage money at very low interest rates. Folks maxed out their credit card, refinanced their mortgage at a lower rate, them did it all again. Other folks found out they could get a larger mortgage than they ever would have qualified for in the past and bought homes with adjustable rate mortgages thinking that in three years when the highter payments kicked in they could refinance because by then the value of their home would have increased and they would qualify for a better deal. It's not working out like they planned.

Another part of the unhappy picture is these things called private equity companies, sometimes referred to erroneously as hedge funds. With the Federal Reserve cranking out dollars like they were jelly beans, and billions of dollars piling up in Asia as a result of the trade deficits, the New York lawyers and bankers realized they could pay themselves tens of millions of dollars a year if they became private equity managers. The idea was to offer "sophisticated" investors who had a couple of million to invest the opportunity to buy into a partnership that would borrow hundreds of millions more and buy corporations. They would then make the corporation more profitable, usually by firing American workers and importing more products from overseas. They would pay themselves millions of dollars for this financial mastery. Eventually the partnership is supposed to sell the corporation for more than they paid for it and the private equity investors would reap above average return. These private equity deals by most accounts are what's holding the stock market up. Incredibly at a time when both the automobile and homebuilding industries are collapsing the stock market is hitting new highs weekly. Go figure.

Hedge funds are actually something quite different. Hedge funds traditionally buy and sell very large amounts of two investments which are expected to go in opposite directions in a certain situation. It's the managers job to figure out which one is going to go a little further and be more heavily invested there when the event occurs. The profit might be a small percentage of the total investment, but a small profit on a really big deal still adds up to a lot of money. The trick is again to have relatively little of your own money invested and a whole lot borrowed, in order that the return on your investment is quite a large percentage of your investment. Problem is that even if the hedge fund manager had a good plan and lost ten million on one side of his play and made eleven million on the other, what if the counter party, the one who is supposed to pay up the eleven million was wrong on his play and doesn't have the eleven million. It's happened before, in far less turbulent times.


What I'm getting at here is that the whole economy is running on borrowed money, more money than credit card customers, mortgasge borrowers, private equity companies, corporate bond issuers, hedge fund managers, state governments or the federal government will be able to pay back. The only way these entities and individuals can even hope to pay off what they owe is if the fed prints even more money and the debts are paid off with dollars that have been much further devalued. Most likely though there will be a crash because the Fed can't print money fast enough to pay off all these IOU's when they're due. but they'll keep furiously printing money in the futile effort.

When things start to come unglued and the dollar is losing purchasing power by the day gold will start to look like a good investment. When gold goes up a little while the stock market is falling, gold will attract even more investors. Then when coprporate and state bonds start going into default, gold will be all people feel safe holding onto, and the value of the dollar will be defined in terms of gold instead of the other way around. The gold standard will re-establish itself after a thirty year failed experiment in fiscal irresponsibility and monetary madness.


PS I got a little carried away in that last paragraph. It was late and I was tired, and I wanted to end with a rhetorical flourish.

Wednesday, May 09, 2007

Presidential Politics

I haven't had much to say about presidential campaigns because elections are so far away, but that doesn't mean I don't care. Re the debates:

Giulliani will melt down, McCain already did. Romney looks like the guy. What's Chuck Hagel doing these days?

John Edward flubbed the question about hedge funds. Now there's a report he's been on a hedge fund payroll the last couple years. Nothing wrong with that, but he'll have to explain which side he's on in the class war. -1
Barack Obama when asked to name America's key allies didn't mention Israel. +1
Hillary Clinton is the person who can single handedly make Romney president. 0

Maybe we should start a third party. We could call it The You Want the Truth? You Can't Handle the Truth Party. Kucinich and Paul would be an ideal ticket.

Monday, May 07, 2007

Still Struggling

with finance and investments.

Came across a little Keynesian wisdom which says essentially what I sometimes expound upon for hundreds of words: "There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The Process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."

Saturday, May 05, 2007

Here come the Irish

Midpoint between seasons. Ready to get fired up? Try this.

Friday, May 04, 2007

Wow

They CAN fly




Working on investment strategy - more thoughtful stuff to follow soon.

Saturday, April 28, 2007

Just in case you're in danger of being misled

Despair stalks Baghdad as plan falters
By Andrew North
BBC News, Baghdad

Trying to get into the centre of Baghdad earlier this week offered one view of how far away the Americans and Iraqi authorities are from gaining control here.
We were at the airport. Just before we were due to leave, the entrance car park was hit by a car bomb.

US troops and private security forces who guard the perimeter locked the whole area down for the next four hours. No traffic was allowed in or out.

While we waited with scores of other vehicles, mortars were fired at the airport. Fortunately for us they landed on the other side of the runway, plumes of smoke shooting into the air.

You won't have heard about any of this because at the same time a series of other far more serious attacks was taking place.

One was at the Sadriya market in the city centre, where a massive car bomb killed more than 140 people.


The Sunni extremist surge seems to be having more effect than the American one



It was placed at the entrance to a set of barriers put up around another part of the market where a previous single bomb, in February, claimed more than 130 lives.
The market blast "did not penetrate the emplaced barriers" a later US military press release helpfully pointed out, ignoring the fact that the bombers had yet again adapted their tactics with vicious perfection - setting off their device at the point where crowds congregated outside and at the very moment when they were busiest.

Bombers 'organised'

As we drove into the city, we counted six blast holes left by recent roadside bombs along just one 100-metre stretch of road.

A large patch of damaged, blackened Tarmac on a bridge spoke of another attempt to destroy a key crossing.


The Sunni extremists held to be responsible for these attacks seem to be making a mockery of the US and Iraqi security plan, which is now into its third month.
So far, their surge seems to be having more effect than the American one.

Last month alone there were more than 100 car bombings, and the number of attacks has continued at a similar rate so far this month. This indicates a high level of organisation.

This despite the fact that there are many extra US and Iraqi troops in the city now. There are more raids and patrols.

On our drive into the city, we encountered several Iraqi army checkpoints. But almost every vehicle - including ours - was being waved through.

Many new checkpoints have been set up across Baghdad.

But what is their purpose, many Iraqis ask, when they seem to stop so few people?

It is not always encouraging when they do - a couple of times we have been pulled over by Iraqi soldiers who ask us if we have any bullets to give them.

Optimism fading

Just a month ago there was a cautious - very cautious, but still real - sense of optimism among many Baghdadis that the plan was starting to work.

The daily count of bodies found around the city - mostly Sunni victims of targeted sectarian killings - had dropped off significantly.

The Shia militia of Moqtada Sadr, which was blamed for most of these murders, was largely obeying orders to put away its weapons and co-operate with the security plan.


But there is a deadly and familiar equation here.
With official security forces apparently unable to protect Shia communities, pressure is growing on the militias to do so again.

And there are signs their death squads have returned to work. The body count is creeping up again. Twenty were found yesterday.

Dealing with the car bomb is "our top priority", says US military spokesman Lt Col Chris Garver.

But as ever it is a game of cat and mouse, played with insurgents who are "very adaptive", and very well-funded.

A man arrested by US soldiers after placing a truck bomb which failed to go off told interrogators he had been paid $30,000 (£15,000) for the task.

Lt Col Garver says the US believes it is up against several "car bombing networks".

"If there was just one, we might be able to pull the string and unravel it," he says.

People still have to be patient, he warns, adding a note of optimism.

"We are still not fully staffed," he says - there are another two months to go until all the extra US troops are in Baghdad.

Exhaustion

But there is frustration too among the Americans at the Iraqi government's lack of progress on reconciliation - ultimately the only solution to the conflict, most believe.

Key issues include the need to implement a new law on sharing oil revenues, an amnesty programme and limiting the scope of the de-Baathification process. All of these are crucial to winning over Sunnis.

The idea was that the security drive in Baghdad would create "space" for such efforts to get going. But although new laws have been drafted they are a long way from being approved.

US Defence Secretary Robert Gates stepped up the pressure over these issues on his visit to Baghdad. In the meantime, the young men and women sent out here to implement President Bush's plan are paying a heavy price.

An average of 80-90 Americans die each month. And US personnel have just had their tours extended by another three months.

But, as it has always been since the 2003 invasion, it is the Iraqis who suffer most.

No-one knows the exact figures, but at the end of another week of unspeakable, random carnage, hundreds more Iraqi families are grieving.

Exhaustion and despair hang over the country.

And there are no signs of change.

Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/middle_east/6575717.stm

Published: 2007/04/20 12:51:58 GMT

Thursday, April 26, 2007

BQ in NY

Brady Quinn is being interviewed by the drive home show guys in New York. You have to get thru the blah-bah-blah to see the completion. He's cool under presssure.

Sunday, April 22, 2007

Spring Game



I'm copying Mike's post from The Blue Grey Sky Blogspot because he says it pretty well.

The unique part of our day came after we left campus (after hiking around several le miles and the obligatory trip to the book store) and stopped at Elia's Mediterrenean Restaurant for dinner. Jason ordered grape leaves wrapped around a vegetarian mixture. Had one bite and backed away from his plate. The poor guy tried to make a meal of humus spread on pita bread, which he wasn't really enjoying. Luckily our hostess brought over a plate of baclava before we left and Jason finally got to chow down.

I went to South Bend... | by Mike

...and all I got was this hellacious sunburn.

Actually, that's not all I got, but I don't think I saw enough to draw any real substantive conclusions regarding the 2007 edition of the Fighting Irish. It was enjoyable to see Junior Jabbie garner offensive MVP honors following his 87 rushing yards on 13 carries, and we certainly hope Jabbie has a great season. However, Charles Stafford and Chris Olsen have demonstrated that a strong spring game performance does not necessarily portend fall stardom.

Given my limited expectations from a football standpoint, I was drawn to a weekend in the Bend by the surrounding revelry - and in these respects I was not let down. The weather was as good as it gets in South Bend. The cloudless sky, mid-70s temperature, and slight breeze combined to produce perfect tailgating weather. After a long winter, it was nice to be reminded of the simple joy of simultaneously soaking up sun and spirits.

As the morning passed, it became apparent that we could expect a Blue & Gold attendance record. The rapidly filling tailgating lots were a testament to the considerable buzz generated by the wide open QB race, the unveiling of Corwin Brown's new defense, and the return of the legendary Ara and Lou. Yet even after witnessing the multitudes outside, the number of people inside the stadium still surprised me. For starters, it was hard just finding an accessible section. At section entrance after section entrance, the ushers turned our merry band of late-arriving tailgaters away, telling us their section was full. When we finally reached the stands, I was amazed at how many people were in the upper level. This was due in part to the decision to close off some of the sections in the tunnel endzone, but the crowd still dwarfed any I had seen at a Blue & Gold game.

The announced attendance was indeed a Blue & Gold record: 51,800. I was actually expecting a slightly higher figure and would be interested to know how the students were counted, since they simply had to flash their IDs. While this figure is significantly below the totals at the Alabama and Ohio State spring games, the Notre Dame fanbase is far less provincial than that of schools whose student body is overwhelmingly composed of in-state residents. In light of the geographic dispersion of ND Nation, getting almost 52,000 to travel to a game designed to reveal little of substance speaks volumes about the excitement surrounding Irish football these days.

The real stars of the game were Ara and Lou. I was talking to my father before the game, and he was pretty fired up about Ara's return. When I found out that yesterday's game was Ara's first time through the tunnel since my father was a student, I once again thanked Charlie Weis for his efforts to bring the family together. Holtz really seemed to enjoy the game, and when a yelling Holtz ran out on the field at one point, the crowd responded with an enthusiastic "Louuuuuuu!"

I hope the experience made quite an impression on the visiting recruits, and the early returns indicate that this is the case.

Tuesday, April 17, 2007

Oh, Cisco

Did I mention that Saturday night at Noah and Lauren's we had kind of a mini wine-tasting party? The Riesling was the big winner - the girls were unanimous, and Noah pretty much agreed. I never got around to opening my selection (Beujolais). Got me thinking about a fun wine to sneak into the Blue-Gold game on Saturday, and I think I found it.

Here's the rosters for Saturday. Looks like the Blue team has a lot of starters on offense, and the gold tean has a lot of starters on defense. Does that mean Demetrius Jones and Jimmy Clausen are ahead in the quarterback derby? I don't have a clue. One fun thing is that Ara and Lou will both be on hand as honorary coaches.

Blue Team Roster


2-Darrin Walls, DC;
3-Demetrius Jones, QB;
5-Armando Allen, HB;
6-Ray Herring, DS;
7-Jimmy Clausen, QB;
8-Raeshon McNeil, DC;
11-David Grimes, WR;
17-Geoff Price, P;
19-George West, WR;
23-William David Williams, DC;
24-Brandon Erickson, WR;
25-Munir Prince, DC;
26-Travis Thomas, HB;
28-Kyle McCarthy, DS;
29-Jashaad Gaines, DS;
31-Sergio Brown, DS;
32-Luke Schmidt, FB;
33-Nate Whitaker, K;
36-Dex Cure, FB;
36-Alex Lough, ILB;
38-Nick Possley, WR;
41-Nikolas Rodriguez, HB;
42-David Costanzo, WR;
43-Mike Anello, DC;
46-Michael Planalp, TE;
48-Steve Quinn, ILB;
52-Joe Brockington, ILB;
53-Morrice Richardson, OLB;
54-Anthony Vernaglia-OLB;
61-J.J. Jansen, LS;
69-Neil Kennedy, NT;
82-Robby Parris, WR;
86-Michael Talerico, TE;
89-John Carlson, TE;
92-Derrell Hand, NT;
93-Paddy Mullen, DE;
94-Justin Brown, DE;
97-Kallen Wade, DE






Blue Team Coaches

Honorary Head Coach: Ara Parseghian
Offense: Michael Haywood, Ron Powlus, Shane Waldron
Defense: Bill Lewis, Jappy Oliver, Patrick Graham
Honorary Assistant Coaches: Brian Boulac, Joe Yonto
Honorary Captain: Ross Browner

Gold Team Roster

1-D.J. Hord, WR;
4-Gary Gray, DC;
9-Tom Zbikowski, DS;
12-Zach Frazer, QB;
13-Evan Sharpley, QB;
15-Leo Ferrine, DC;
16-Justin Gillet, QB;
20-Terrail Lambert, DC;
21-Barry Gallup, WR;
22-Ambrose Wooden, DC;
24-Leonard Gordon, DS;
27-David Bruton, DS;
29-Jake Richardville, WR;
34-James Aldridge, HB;
35-Kevin Smith, ILB;
35-Joe Bizjak, K;
37-Junior Jabbie, HB;
38-Wade Iams, DC;
39-Ryan Burkhart, K;
39-Kevin Brooks, TE;
40-Maurice Crum, ILB;
41-Scott Smith, ILB;
42-Kevin Washington, OLB;
43-Eric Maust, P;
44-Asaph Schwapp, FB;
45-John Leonis, DB;
45-Kris Patterson, WR;
47-Mike Narvaez, FB;
49-Toryan Smith, ILB;
57-Dwight Stephenson, Jr., DE;
59-Chris Stewart, NT;
80-Richard Jackson, WR;
84-Will Yeatman, TE;
85-Sam Vos, WR;
88-Konrad Reuland, TE;
90-John Ryan, OLB;
91-Xavier Burton, P;
96-Patrick Kuntz, NT;
98-Trevor Laws, DE


Gold Team Coaches

Honorary Head Coach: Lou Holtz
Offense: Rob Ianello, Bernie Parmalee, Kevin Loney
Defense: Corwin Brown, Brian Polian, LeRoy Knight
Honorary Assistant Coaches: Foge Fazio, Tony Yelovich
Honorary Captain: Tony Rice

Green Team Roster (can play on both teams)

51-Dan Wenger, OG/OC;
55-Eric Olsen, OG;
63-Jeff Tisak, OT;
67-Thomas Bemenderfer, OC/OG;
71-Bartley Webb, OT;
72-Paul Duncan, OT;
73-Matt Carufel, OG;
74-Sam Young, OT;
77-Mike Turkovich, OG;
78-John Sullivan, OC

Sunday, April 15, 2007

Catching Up

Janett and the kids and I have fallen blog silent this week. I don't know why. We have such interesting lives and thoughts to share. Janett and the kids might have wandered off to my space or u tube or somewhere. I don't do that stuff, but I have been e-mailing a little.

Janett and I went to see Lauren and Noah's house in Champagne this week end. A flipped Cape Cod on a quiet street off a busy street. Perfect. Lauren's dad is a handy guy and finished up on a few rough edges the seller didn't take care of, but it appears the house will be trouble free. The kitchen is the biggest room downstairs and the entire second floor is a family/play room. A fun house, perfect for visiting.

I guess not having posted in the last week, I didn't mention Easter. Services at Willow were excellent. Bill Hybels is the real deal, a genuine disciple. He is moving that church in so many directions at once, I know the demands must be strenuous. I'm sure the elders encourage and assist him to delegate as much as possible, but he's the one with the burning vision. How do you delegate that? The best the visionary can do is inspire and he sure does that.

Then we had brunch at Steffy and Mark's. Janett missed church to cook, and the chow was great. Kimmy and Ross were there lending a certain elegance to the festivities. Stephy and Mark just barely finished redecorating the kitchen in time for the party, and it looked really nice. Jason and Dee were there. Dee was so cute, she's on one of those diets that allow you to eat one thing but not another, so she had to pick and choose. Mark's mom was in town but left right after brunch. Janett tells me she (Donna) has had some worrisome news about her health - as did Lauren's mom in the past week. We'll keep everyone in our prayers.

The Blue Gold game comes up at ND next week. We'll talk about that next time.

Friday, April 06, 2007

That playlist is fun

I thought I'd add a little authentic American music so I found Wildwood Flower by Maybelle Carter and the Carter Family. That's about as authentic as you can get. But right there, the next selection, was the version done by Reese Witherspoon for the Johny Cash movie. Her performance was so true I downloaded her version instead. She's so cute.

Anarchism

Pierre Joseph Proudhon said provocative things like "Anarchy is Order" and "Property is Theft". From earlier anarchists he inherited the sense that government was a devise used by the wealthy to preserve their rights of ownership in a post feudal society. In this context government would be a hindrance not an aid in the pursuit of justice. In a sense government, while posing as an arbiter of justice was another class of exploiters. Better to have no government than the corrupt enforcers of the privilege of property. (Anarchism) He perceived that labor and owners would always struggle over how to allocate the benefits of production, and he knew the only way labor could obtain enough of the proceeds to live anything better than a life of meager sustenance was to organize into unions (syndicalism) to confront the owners by withholding their labor. (In Proudhon's time of the mid nineteenth century he observed this to be true for agrarian workers as well as factory workers). Proudhon's student Georges Sorel, coined the phrase "direct action" emphasizing that the confrontation must be between the owner and the workers, not between political representatives (which would have been indirect action.)

The capitalists of today don't want or need the American worker in their factories. They'd prefer to move their plants half way around the world and employ coolie labor. For the relatively few jobs left to be done in America they need to import illegal aliens who are desperate enough to work for less than half of what an American worker would require. The American worker has lost his leverage in this environment, and that wasn't an accident.

Meanwhile, the bourgeoisie today, as they did in Proudhon's time, scoff at the idea that committees of workers could handle the complex tasks of government. They insist it's better to entrust those duties to a class of professional politicians. They insist on believing their interests are best served by Bush and Clinton rather than an earnest principled advocate like Dennis Kucinich.

Surely, it seems impossible to even imagine how the workers can reestablish their power to influence their own conditions. But when the thieves and exploiters have twisted and corrupted the economic order until it collapses in a heap, the workers won't have a choice but to make that determination

Thursday, April 05, 2007

Tuesday, April 03, 2007

No new message but

how do you like the new layout? and the music? Janett helped me.

Saturday, March 31, 2007

Serious Stuff

Sometimes I feel a little screedish. But if you want to be subjected to a real rant, I can take you there. It's kind of hard to deal with so I'm not excerpting a passage - but if you want some hard facts, and you won't read just the first few lines and click away, go here. OK , I'll give you a clue:

Disclosure Statement: The author of this essay converted to vegetarianism two months ago. As a result, he has experienced spiritual, physical, and mental invigoration. He highly recommends it.

The authors name is Jason Miller and I'm going to read more of his stuff once I get over what I just read.

An interesting if not exact quote from Russell Means

"If elections could change anything, they'd be illegal"

Cassandra's back

I've been laying off the doom and gloom for a couple of weeks. But the bad stuff is not getting further away, it's getting closer. I don't post this stuff to bum anyone out. Just to let you know, when it happens, it wasn't something you did - it was done to you.

Social Cycles, Depression and Revolution (Part II)
March 29, 2007
by Michael Nystrom

It's not dark yet, but it's getting there...-Bob Dylan

Last week I gave you the good news, that after we make our way through the current political and economic mess that we find ourselves in, will emerge into a new golden age. This week, the bad news: Before we get we there, we will likely have to first undergo at least a depression, and certainly a revolution before we arrive. The brighter world will not come of its own accord; it will wait patiently until we collectively decide to create it. Until then, Batra predicts that "real wages and family income will continue to fall, while poverty will rise. The rich will keep getting richer and the poor getting poorer; similarly, the middle class will continue to shrink." For many, the motivation for real, fundamental change will only come from the depths of depression. Before continuing with Dr. Batra's theory, let's take a look at two recent news articles that set the stage and concretely depict the points he makes: The first, from today's New York Times, informs us that the nation's income gap widened significantly in 2005 to levels unseen since 1928 - the year before the start of the great depression. According to the story, the top 300,000 Americans collectively own as much wealth as the bottom 150 million. While the top 1% of the population got an average raise of $139,000 in 2005, the bottom 90% of workers saw their incomes fall by $172. These are times that try men's souls. Since these are abstracted numbers, it can be difficult to fully appreciate their meaning. But this second article should make things perfectly clear: Circuit City is firing 3,400 of its hourly sales floor workers, and will rehire either them or new workers at a lower hourly rate. Just so you understand the context, this is a company that is headed by a CEO -- Phillip Schoonover -- who raked in $8.5 million dollars last year. The company itself made a profit of $162 million, though it lost money in the most recent quarter. Apparently this is how Schoonover can justify his brilliant fire/rehire-cheaper scheme. According to the article, the average sales worker now makes $10-11 per hour, or about $21,000 per year, while a new worker would only make about $8.00, or $16,000 per year. That is below the poverty level for a family of four, or even three, so forget about trying to raise a family on that kind of a salary. Schoonover, on the other hand, makes about 530 times the average grunt worker's pay, and in today's climate, he'll likely get a bonus for his great idea. But as Batra points out in this and other books, these are precisely the kinds of conditions -- extreme wealth concentration and inequality -- that lead to depressions, for they weaken the overall capitalist system. With such minimal incomes, the only way for workers such as those at the new and improved Circuit City to continue to consume (the great "engine of global economic growth") is by taking on increased levels of consumer debt. But there are limits to how much debt such poorly paid workers can take on. To make sense of these stories in a larger context, let's take a look at the global economy through Dr. Batra's eyes. Batra asserts that the entire world economy has been colonized by the American Global Business Empire. The acquisitors have taken the reigns of power in both business and government and, motivated by unbrided and unchecked greed, are taking increasingly aggressive action to consolidate their power. As a result, members of the other three classes - both in the US and abroad - are being pushed increasingly into the laborer class, simply trying to make a living in the acquisitor dominated world. (for defintions of these terms, please see Part 1)

For the rest of the review go here.

Tuesday, March 27, 2007

You Lucky Cubs Fans

Posted by FaytlND at Rocks House:
Found in a "Young players to remember" article.
"JEFF SAMARDZIJA, RHP, CUBS -- There were people who were wondering whether Samardzija was really worth that $10 million the Cubs laid out to keep him away from the NFL. Well, after watching him this spring (where he had a 1.80 ERA in three appearances), one scout raved: "Best arm I've seen. Ran his fastball up there in the upper 90s, with an excellent slider. He could pitch up here quick. In fact, they had to get him back to the minor leagues to keep Lou (Piniella) from taking him north."
Hopefully he avoids the Wood/Prior treatment. It also looks like, at this point, he probably made the right decision sticking with baseball."

I'm so tired of the Woods-Prior "Oww Ouch Oooh That really hurts" thing. I don't know how you guys put up with it. 2002 was the year that I gave up on them. Bere, Clement, Lieber, Prior, Woods, and Zambrano
and, what? - they finished 5th - and they had Sosa, Alou, McGriff, Hundley, and Girardi. Fifth, for Crying Out Loud.

I'm getting really upset, and I'm not even a Cub's fan. But I might be interested in seeing a little more of Samardzija

Me when I was little

Who all see the leprechaun, say Yeah!

Saturday, March 24, 2007

We all extend our best wishes

Elizabeth Edwards has had a recurrence of cancer. She and John Edwards are lovely people and are a lovely and loving couple. What would you do? They have the resources that would allow them to retire to their mountain top home and devote themselves to their children and each other.

It wouldn't seem to me to be out of character for them to dedicate themselves to John's candidacy, with the sense that this would be the most fulfilling expression of their devotion to one another. Politics as ennobling? That's what separates them from the rest of the pack.

Everything seems to be moving in slow motion

Noah is home (to Fort Drum,NY) from Afghanistan and will soon be getting his walking papers. Everybody knows Lauren found them a house in Champaign, right? So, they'll be settling down there and once Noah gets enrolled he'll receive benefits under the GI Bill. That's all good, but he's wondering what program to enroll in. I'm not prepared to give advice. The obvious answer is something with a lot of computer science because Noah may have an aptitude, but I got my doubts. Pretty soon you'll have to move to Bangalore India to get a programming job, and your skill set might be out of date in six years, I don't know.
Noah likes theology, and I think he'd be a good youth pastor, or a good adult pastor for that matter. I think he'd bring the right balance of spiritual sensibility, energy, and intellect to a pastorial career.
He mentioned once getting into the building trades. I worked with a guy who had a construction management degree from Wisconsin, so I know such progams exist. I mean you don't have to be a civil engineer or architect. That could be cool - he'll have four or five years in school while the industry shakes out and then he'll come out with a degree when they're hireing again. I told him he could get some "hands-on" experience working with Jason summers. He didn't know what to say.
I still smile when I think about those two on a job together.

Tuesday, March 20, 2007

All is well

Mom and Kim and I are going to Culver's for butter burgers. I've done that once, mom has never had a butter burger, and feels in the mood.
How come we don't have a Sonic? I like their ads on cable TV. See Ya

Saturday, March 17, 2007

John Edwards wrote me

I want to do this. Who will come over for a couple hours on the 28th?

Dear Andy,

Yesterday, I delivered a speech in New Hampshire where I laid out an agenda of transformational change to
guarantee universal health care,
stop global warming,
close the education gap and
end poverty at home and around the world.

As I said in New Hampshire, America is more than a place, it's an idea - real, fundamental equality for all. And we have to make that idea real for all Americans, and rekindle it around the world.Today I'm counting on you as a member of One Corps to help make that vision real.I'm asking you to sign up to host a house party this Wednesday, March 28th. You can invite your friends and neighbors, play the DVD our campaign will send you, discuss the issues at the heart of this race and help us build the support we need to win.We created One Corps to start working today to build the one America we believe in—and this is the perfect way to do just that. Please sign up to host your party today:http://johnedwards.com/r/7875/861941/

Everything we do at home ripples around the world. And everything we do around the world affects us here at home. There is no such thing as just foreign policy anymore. In this new world the old incremental approach just doesn't cut it—we need to bold, daring, boundary-pushing change.We need transformational change because there are still two Americas —one for the powerful and one for everybody else. Millions of middle class families are struggling and 37 million Americans are left in poverty. Yesterday, my call for change began with my plan to end poverty in America and secure the middle class by creating what I call the Working Society.In the Working Society, we will reward work with a higher minimum wage, stronger labor laws, and tax credits for working families. We will offer affordable housing near good jobs and good schools, and create a million stepping-stone jobs for people who cannot find work on their own. We will help workers save for the future with new work bonds and affordable savings accounts. And we will end the scourge of poverty in America within 30 years.We need transformational change to address the health care crisis that leaves 47 million Americans without any health insurance, and millions more with spiraling costs and dwindling coverage. So my plan guarantees truly universal health insurance to every American, while making it cheaper and easier for businesses to cover their employees and establishing the basic responsibility of every individual to get the coverage they need.We need transformational change to address the education crisis that half a century after Brown v. Board of Education still yields an intolerable gap between the races and the rich and the poor. So I proposed a real investment to recruit, train, and support our national teacher corps. And I outlined a plan I call "College for Everyone" that will pay for the first year of college for any student in America who needs it and is willing to work part-time.We need transformational change to stop global warming and create a new energy economy that helps fuel the growth of a secure middle class in the 21st century. By changing our energy infrastructure and investing in research, development and deployment of alternative energy technologies, we can create more than a million new jobs in America. We must set an example for the world by implementing a cap on carbon emissions and through dramatically increasing our national and individual energy efficiency.This week, I announced our campaign will take the first step toward reducing our impact on global warming by going carbon neutral.There's one other subject I talked about yesterday that is very important to me personally—and to the security of America. And that's global poverty.Tackling global poverty is the right and moral thing to do. And it's also the smart thing to do for our security.A great portion of a generation is being educated in madrassas run by militant extremists rather than in public schools. And as a result, thousands and thousands of young people who might once have aspired to be educated in America are being taught to hate America.When you understand that, it suddenly becomes clear: Global poverty is not only a moral issue for the United States—it is a national security issue for the United States. If we solve it, we begin to create a world in which the ideologies of radical terrorism are overwhelmed by the values of education, democracy, and opportunity. Now that's transformational.So yesterday I outlined my plan to tackle global poverty head on. We will launch a worldwide effort to bring primary education to every corner of the globe. We will invest in preventive health care through clean water and sanitation systems to give poor families a chance at healthy lives. We will provide the tools of local entrepreneurship and active citizenry that are the cornerstones of stable prosperity. And we will create a cabinet level position in the White House to elevate all our national efforts at eradicating poverty worldwide.These plans may sound very big—and that's because they are. But we are a country built on our commitment to the biggest of ideas. We have never turned our back on progress, no matter how daunting. And we're not about to start.Transformational change of this magnitude can happen, but it cannot come from one candidate or one president adopting a big vision. It only happens when an entire generation decides they are ready to fully realize their potential for greatness. It happened at our nation's founding. It happened when our parents and grandparents overcame the Great Depression and defeated the fascist-totalitarian juggernaut. And if you are willing to step forward, it can happen today.Please sign up to host a house party next Wednesday, March 28th to help spread our message and build support. I'm counting on you as a member of One Corps to help lead the way. Everything you need is online right here at:http://johnedwards.com/r/7877/861941/Thank you,John EdwardsFriday, March 16th, 2006

Something I know nothing about

Mark went to the emergency room last night for the second time in two weeks because of a kidney stone. So I googled kidney stones, to see what caused them and to be able to make suggestions to Mark about changing his diet.
It seemed stones are formed of calcium oxalates, but limiting consumption of calcium and oxalates (chocolate, coffee, and dark green leafy vegetables) doesn't seem to necessarily reduce the incidents of stones, so I think the villain must be sodium, which is abundantly present in soda pop.
When I was reading about soda pop, I was surprised to read that there are 10 teaspoons of sugar in a 12 oz can of top, Yeccchhh.
I think sodium is a preservative and "flavor enhancer". There's a lot of it in soups and other canned foods. People with heart problems have to watch out for high sodium contents.

Anybody know more about sodium in foods?

Sunday, March 11, 2007

Nobody reads my blog

That's what it said on a tee-shirt Chad or Scott gave Steffie. Judging ny the replies posted to my blogs, I suppose I should get a tee shirt like that for myself.

I just alienated my last reader, my wife Janett. Re my post of a link to an article on the Neo-Cons, she replied with a question about who the Neo-Cons actually are. I replied to her reply - Read the article. I must have been in a hurry at the time, but I hurt her feelings, and she says she won't be back.

On the other hand, maybe a lot of people read my blog, and really appreciate my intellect, insightfulness, and my style, but are too intimitated to post a comment. (and probably feel as though a reply wouldn't really add anything to my post - kind of like painting the Pieta)

At any rate, as time passes and my prescience become apparent to all, my posts will probably be published in book form, and then I'll be rich and famous.

Chavez and me

I know a lot of good folks don't like Hugo Chavez and really don't like Fidel Castro. I like Chavez and am sympathetic to Castro. Not entirely because they're such good men, but because I admire their courage and determination in not succumbing to the massive and intense pressure the USA has applied to destroy populist movements in Latin America. Through the twentieth century the story of repression, murder, rape and torture by death squads and para-militaries financed and directed by the CIA, the State Department, and the Pentagon are so commonplace that the people of the US have lost their ability to be enraged, shocked, or even embarrassed .

The tide is turning. Bush has no vision or principles that enable him to determine a policy for maintaining positive relationships with the rest of the world. The dissolution of the Soviet Union, supposed to have represented the victory of Western democracy and free enterprise system, has given way to a resurgent totalitarianism motivated by concern over the US's military incursions into Eastern Europe, and facilitated by Putin's posing as an ally in "the war on terror" while he reversed democratic reforms in Russia.

Our leadership of the liberal democracies wasn't lost, it was discarded.
When the democratic governments of Europe questioned our unjustified invasion of Iraq, Rumsfeld labeled them as the "old Europe" and applauded the willingness of the "new Europe" who could be bribed into supporting the war effort with a token commitment of forces. Who needs France and Germany when you have Poland and Roumania?

In Asia as well things have come unglued, with Japan moving toward re-militarizing as the US is perceived as unwilling and perhaps unable to contend with the growing power of China. The trade deficit while enriching a segment of the US economy has given the Chines immense economic leverage (ie the ability to wreak havoc on the US economy) while causing an immense transfer of technology to our most vociferous enemy.

I can't even bring myself to begin to describe the mess we've made of the Middle East with our slavish devotion to the most militaristic / expansionist elements of the Israeli state apparatus.

So why should I express concern over Latin America? Read the attached article for an description of how badly the last four administrations , over a period of twenty-five years, have betrayed US principles and ideals, and then ask "to whose benefit?"

Saturday, March 10, 2007

Fear the shamrock

A thoughtful inquiry posted at Rocks House:

Is it time to drop the "Irish" nickname?by ndoldtown

(03/09/2007 15:25:21) Edited on 03/09/2007 15:25:21

1. It has always insulted the contributions of the Poles, Germans and Italians who actually made ND an excellent school.

2. It reinforces and praises the negative characteristics of the Irish regarding drunkenness, and disorder and is thus socially unproductive, much the way "gangster rap" is.

3. Notre Dame's live leprechaun is the most embarrassing mascot of any school. Must we be the Amos 'n Andy of American ethnic Catholicism?

4. We should adopt something less offensive to people but that would also refer to our historic heritage. Crusaders, for example.


And a thoughtful respone:


In reply to: Is it time to drop the "Irish" nickname? posted by ndoldtown

I've had quite a few pints of the Guinness and I've changed me mind

I now think your suggestion fookin' stinks and ya' can shove it up your arse.

And I'll fight any man here who's not with me.

What the fook are YOU lookin' at?

Thursday, March 08, 2007

ND Hoops

ND beat Syracuse this afternoon and will meet Georgetown tomorrow evening in the Big East semi-finals. The Irish shot their usual40% from the field, but 85% from the free throw line

Wednesday, March 07, 2007

Small World

Steffy was saying last night that she and Mark went to see a movie (Amazing Grace?) about William Wilberforce,, who led the struggle in England to ban slavery and the slave trade. She'd been impressed by his steadfastness and resourcefulness.

Meanwhile one Republican candidate stands out in my eyes. Please spare me McCain and Giulliani and give me more Sam Brownback. Browsing today I came across an op-ed piece on Wilberforce by Sam Brownback.
Note: if Wilberforce was born in 1759 and entered Parliament in 1780, already a morally committed person, he must have been an exceptional young man

Brownback op-ed on William Wilberforce
Calls British abolitionist a hero
Tuesday, March 6, 2007

WASHINGTON - U.S. Senator Sam Brownback today released an op-ed regarding the life of British abolitionist William Wilberforce. The op-ed is below and is 589 words.

The world today is in need of heroes. We need those who show us the path to be good and reflect the great potential of the human spirit. While I'm glad to say I have many heroes, I think often these days of one in particular. Little known but most relevant for our present day, the British parliamentarian William Wilberforce is indeed a hero for our times.
William Wilberforce was born in Great Britain in 1759. His country in that day was very much like the United States in our own time. They were a world superpower but were threatened at home by a coarsening of culture and fading morale. Worst of all they were beset by the evil of slavery. They understood well the vital lesson however - if they would not strive for goodness they would surely lose their greatness.
William Wilberforce entered the British parliament in 1780 with two monumental goals: the abolition of slavery and the reformation of culture. The first, for which he worked tirelessly and is now so gratefully remembered, marks a turning point in human history. Thanks in large part to William Wilberforce the British people stood up against the horrors of the slave trade and eventually abolished slavery itself. He fought for what was right and stood up for the voiceless. Against all odds, the goodness deep in the hearts of the British people won out.
The second great object that occupied Wilberforce's energy in parliament was the reformation of the culture. He understood that in order for Britain to do great things they needed to be good. To combat the great evil of slavery they needed a culture that encouraged what is right and discouraged what is wrong. They needed a people willing to sacrifice and to fight for the dignity of another. Great Britain of the nineteenth century, not unlike America today, needed a culture worthy of their great goals for their people and for all humanity.
Wilberforce is a helpful guide in another difficult question of our day, the place of religion in the public square. He was a person of faith who rightly saw his faith as a value not a vice for public life. He was a committed Christian who took seriously the instruction to "love thy neighbor." It was his notion of the immensity of human dignity that led him to fight for men and women everywhere and without exception. He worked for prison reform, to help the weak and downtrodden, and most of all to end the abhorrent institution of slavery. Seeking to impose nothing but only to propose a vision of human dignity, his faith committed him to justice in the public square. We are a grateful world for his witness and courage.
Finally, Wilberforce is a model to reject the partisanship that often enters debates today. His example makes clear that it is principle that combats partisanship. Leaders who stand for a particular set of values - even if there will not be total agreement on every point - represent the surest hope for civil discourse. Principled leaders do not divide simply on party lines, seek not their own good or that of a particular party, but the good of the whole people. William Wilberforce is the model of a leader with conviction.
William Wilberforce and his monumental achievement is indeed the story of Amazing Grace. It is the story of heroic leadership and courageous action on behalf of the weak and marginalized. It is the story of William Wilberforce, a hero for our times.

Monday, March 05, 2007

Who are the Neo-Cons?

I'm appending the conclusion of a long paper by Kevin McDonald on the Neo-Con ideology and history. The paper states what we already know, but does so with unassailable detail and documentation. Whether you find the conclusion gratifying or offensive, you should read the article. If you are indifferent, I can't help you,

Conclusion

The current situation in the United States is really an awesome display of Jewish power and influence. People who are very strongly identified as Jews maintain close ties to Israeli politicians and military figures and to Jewish activist organizations and pro-Israeli lobbying groups while occupying influential policy-making positions in the defense and foreign policy establishment. These same people, as well as a chorus of other prominent Jews, have routine access to the most prestigious media outlets in the United States. People who criticize Israel are routinely vilified and subjected to professional abuse.270
Perhaps the most telling feature of this entire state of affairs is the surreal fact that in this entire discourse Jewish identity is not mentioned. When Charles Krauthammer, Bill Kristol, Michael Rubin, William Safire, Robert Satloff, or the legions of other prominent media figures write their reflexively pro-Israel pieces in the New York Times, the Wall Street Journal, or the Los Angeles Times, or opine on the Fox News Network, there is never any mention that they are Jewish Americans who have an intense ethnic interest in Israel. When Richard Perle authors a report for an Israeli think tank; is on the board of directors of an Israeli newspaper; maintains close personal ties with prominent Israelis, especially those associated with the Likud Party; has worked for an Israeli defense company; and, according to credible reports, was discovered by the FBI passing classified information to Israel—when, despite all of this, he is a central figure in the network of those pushing for wars to rearrange the entire politics of the Middle East in Israel’s favor, and with nary a soul having the courage to mention the obvious overriding Jewish loyalty apparent in Perle’s actions, that is indeed a breathtaking display of power.
One must contemplate the fact that American Jews have managed to maintain unquestioned support for Israel over the last thirty-seven years, despite Israel’s seizing land and engaging in a brutal suppression of the Palestinians in the occupied territories—an occupation that will most likely end with expulsion or complete subjugation, degradation, and apartheid. During the same period Jewish organizations in America have been a principal force—in my view the main force—for transforming America into a state dedicated to suppressing ethnic identification among Europeans, for encouraging massive multiethnic immigration into the U.S., and for erecting a legal system and cultural ideology that is obsessively sensitive to the complaints and interests of non-European ethnic minorities—the culture of the Holocaust.271 All this is done without a whisper of double standards in the aboveground media.
I have also provided a small glimpse of the incredible array of Jewish pro-Israel activist organizations, their funding, their access to the media, and their power over the political process. Taken as a whole, neoconservatism is an excellent illustration of the key traits behind the success of Jewish activism: ethnocentrism, intelligence and wealth, psychological intensity, and aggressiveness.272 Now imagine a similar level of organization, commitment, and funding directed toward changing the U.S. immigration system put into law in 1924 and 1952, or inaugurating the revolution in civil rights, or the post-1965 countercultural revolution: In the case of the immigration laws we see the same use of prominent non-Jews to attain Jewish goals, the same access to the major media, and the same ability to have a decisive influence on the political process by establishing lobbying organizations, recruiting non-Jews as important players, funneling financial and media support to political candidates who agree with their point of view, and providing effective leadership in government.273 Given this state of affairs, one can easily see how Jews, despite being a tiny minority of the U.S. population, have been able to transform the country to serve their interests. It’s a story that has been played out many times in Western history, but the possible effects now seem enormous, not only for Europeans but literally for everyone on the planet, as Israel and its hegemonic ally restructure the politics of the world.
History also suggests that anti-Jewish reactions develop as Jews increase their control over other peoples.274 As always, it will be fascinating to observe the dénouement.

Sunday, March 04, 2007

Ann Coulter

Ann Coulter said she couldn't discuss John Edwards because if she used the word faggot she'd have to go into rehab. The conservative republican conference audience applauded.

I should probably just let it go, but this episode highlights an issue I find most disquieting. Ann Coulter is reported to be a transsexual named Arthur Coltrane from a wealthy pig farming family in Georgia who paid for his sex change surgery in Denmark when he was a teen-ager. His appearance supports this rumor. I wouldn't care to describe his masculine physique other than to point out his very manly adam's apple .

When his voter registration was reviewed in Florida due to a question about using an address to register where he didn't really live it was observed he hadn't checked M or F in section 15 where gender was supposed to be recorded.

It is disturbing that so many deviants at the top of the Republican party, including Carl Rove and George Bush, claim to represent family values and traditional morality. The same kind of hypocrisy has been associated with some self styled Evangelical leaders.

I am in complete sympathy with the Christian conservatives. What appalls me is that they are so susceptible to the cynical manipulation of right wing ideologues and politicians, and are misled into supporting an agenda antithetical to Christ's teachings.

Tourney time

Boy, I have to lighten up on this presidential politics stuff. The first primaries are almost a year away. Right now polls show Hillary leading in 24 states to 2 for Edwards, and one each for Obama and Richardson.

Notre Dame's basketball team finished their regular season yesterday, 17th in the country, 4th in the Big East. This hasn't been a great year for the Big East. Georgetown is on top of the conference but only ranks 10th in the country. Well, it's tourney time and anything can happen, but probably won't. Still, this is a very young Irish team, and they have a very bright future.

Saturday, March 03, 2007

Like a bad dream

Barack went to an AIPAC meeting this week and said the US should fund the entire cost of Israel's missile defense program, and that no US president should pressure the Israeli leadership to accept a peace plan the Israelis don't like. There was more about being willing to use force against Iran, but you get the point.

When new senators get elected, they choose a more senior member of that august body to be their mentor. Barack picked Joe Lieberman. I don't know how that slipped by me at the time. But it moves Barack from the "bought and paid for" category into the treasonous collaborator group.

As expected, Hillary is not happy about being out-zionized. Just before she and Barack visit the sunny southland this weekend to commemorate the Selma marches, with Obama's poll numbers among blacks rising, word came out that his mother's great grandparents were slave owners.

Stay tuned for more mad-cap political fun as Hillary attempts to savage Barrack, while Barrack endeavors to overcome lingering doubts among his jewish constituency. "He speaks beautifully, but we don't find a lot of emotion in what he says," said Mark Sherman of Northbrook after Obama's AIPAC speach. Could it be that as hard as he tries, Barack will continue to run up against jewish suspicion of the trustworthiness of black politicians as regards the blacks' love for Israel. If he could close the doors and turn off the mikes he could explain, "but I'm not really black, you know."

Flat Tires

Kim was dropping by this morning on her way to run some errands. Then she was going to go to Chicago and meet Ross and a few if his out-of-town friends for lunch, then go to Brian's wedding. She had a flat tire a couple blocks away, and didn't realize that it was past the point of going flat and continued on her way here. So we'll get that taken care of, and in the mean time she can drive Janett's Buick. Unfortunately, that means I can't take Janett to run errands this afternoon in her car, we'll use my Nissan instead. Not as nice a ride for Janett, so she's a little discouraged. I hope she doesn't decide not to go with me. I'd like her to be able to wander the aisles and pick up things that look appealing, so she'll eat regularly as she recovers from her surgery. Also, I think it's good for her to get out of the house for little things, so as not to feel cabin-feverish.

Anyway, I told Kim to be grateful she had the flat where it was so manageable, as opposed to, say, on the expressway into Chicago. I've been pretty lucky about having flats in convenient places. Except for one notable exception over twenty years ago. Janett and I were driving the 6 kids to Minnesota in an emergency situation. Jason needed immediate medical attention, and so we all packed up and headed out. We had a flat on the inter-state, and I had to tell Janett I'd removed the spare from the trunk to make room for all the luggage. Not one of my better moments. Other than that, though, I've been pretty lucky.

Wednesday, February 28, 2007

I feel happy

Our apartment was cold during January and nuch of February, then Louie showed me how to bleed the air out of the radiators to let the steam in. Now we're warm and comfy. It's easier to be happy when you're warm.

Kim has spent some time with Janett each day this week. Kim is a very easy person to be with, and so Janett is feeling good, aside from the discomfort resulting from her surgery. I was thinking last night that it took about two monthes for me to get my strength back after my surgery. It surprised me at the time that it took so long.

Steffy and Mark are peeling wall-paper in their kitchen and will be painting it soon. Steff asked Louie how much it would cost to have the job done. I think Lou told her a couple thousand dollars. Well, that settled that. Maybe we'll have a painting party at Steff's house next week. Finding a job for Malachy will be a challenge. Maybe they'll assign him to keeping me out of the way.

I haven't spoken to Lauren this week, but Janett has. Lauren is going to come by and pick up Audrey for a trip to the vet's on Friday. Naming that cat Audrey is typical Noah. That cat has none of the winsome waifish qualities of her presumed namesake. Just when you think you're making some inroads with her, you'll walk by her recumbent form and she'll give you a whack with claws out . Pointless to ask a cat "What was that for?"

Sunday, February 25, 2007

On a lighter note

I like Vince Gill

Sunday Morning

I feel a little disconnected. All the situations that generally hold my attention continue to develop: Politics, the economy and financial markets, international affairs and military misadventures. Other than to say I continue to support John Edwards and regret that it's been hard for him to get media attention his positions deserve (no surprises there). Just hang in there, John. It's not really necessary for the other candidates to self-destruct, it's a matter of people tiring of the horse race aspects, and having time to recognize who really speaks to the issues closest to their interests. In that connection the early start and the long campaign may work to our advantage.

One promising sign of a shift in the political balance is reports the National Labor Relations Board may be forced by the Democrats to revise the procedures for recognising unions to represent workers.
Right now it's too easy for WalMart/McDonalds to fire anyone who even suggests organizing. As noted previously, the Clinton/McAuliffe leadership has supported a corporate agenda to get access to the big business campaign contributions. That rat-faced conniver Rahm Emanuel has run a bunch of big business Democrats for Congress. This labor reform movement could develop into an issue that will force these Big Money Democrats to show their true colors at a time when the impending presidential election will focus attention on which way they flop.

But the thing that really had all my attention this week was Janett's surgery. Everything seems to have gone well. After surgery on Monday, she came home Friday. The kids have been sweet and helpful. Lauren even brought me some great dinners; pepper garlic pork tenderloin, eye of round steak, and chicken and dumplings. I was trying to save the chicken and dumplings for Janett's first big dinner, but she's running out of time. I'm eating it tonight.

I'm sure we all said prayers for Janett. Now we should all say a prayer of thanks, and include a thankfulness that we have health insurance, and a prayer for all those folks who don't.

Sunday, February 18, 2007

Sen Edwards Health Care Plan

For those not paying close attention, here's an example of how Senator Edwards is coming to grips with problems other candidates are not.

New York Times: Edwards Gets It Right Paul Krugman, Op-Ed

Columnist New York Times Column Feb 9, 2007

What a difference two years makes! At this point in 2005, the only question seemed to be how much of America’s social insurance system — the triumvirate of Social Security, Medicare and Medicaid — the Bush administration would manage to dismantle. Now almost all prominent Democrats and quite a few Republicans pay at least lip service to calls for a major expansion of social insurance, in the form of universal health care.
But fine words, by themselves, mean nothing. Remember “compassionate conservatism?” I won’t trust presidential candidates on health care unless they provide enough specifics to show both that they understand the issues, and that they’re willing to face up to hard choices when necessary.
And former Senator John Edwards has just set a fine example.
At first glance, the Edwards health care plan looks similar to several other proposals out there, including one recently unveiled by Arnold Schwarzenegger in California. But a closer look reveals extra features in the Edwards plan that take it a lot closer to what the country really needs.
Like Mr. Schwarzenegger, Mr. Edwards sets out to cover the uninsured with a combination of regulation and financial aid. Right now, many people are uninsured because, as the Edwards press release puts it, insurance companies “game the system to cover only healthy people.” So the Edwards plan, like Schwarzenegger’s, imposes “community rating” on insurers, basically requiring them to sell insurance to everyone at the same price.
Many other people are uninsured because they simply can’t afford the cost. So the Edwards plan, again like other proposals, offers financial aid to help lower-income families buy insurance. To pay for this aid, he proposes rolling back tax cuts for households with incomes over $200,000 a year.
Finally, some people try to save money by going without coverage, so if they get sick they end up in emergency rooms at public expense. Like other plans, the Edwards plan would “require all American residents to get insurance,” and would require that all employers either provide insurance to their workers or pay a percentage of their payrolls into a government fund used to buy insurance.
But Mr. Edwards goes two steps further.
People who don’t get insurance from their employers wouldn’t have to deal individually with insurance companies: they’d purchase insurance through “Health Markets”: government-run bodies negotiating with insurance companies on the public’s behalf. People would, in effect, be buying insurance from the government, with only the business of paying medical bills — not the function of granting insurance in the first place — outsourced to private insurers.
Why is this such a good idea? As the Edwards press release points out, marketing and underwriting — the process of screening out high-risk clients — are responsible for two-thirds of insurance companies’ overhead. With insurers selling to government-run Health Markets, not directly to individuals, most of these expenses should go away, making insurance considerably cheaper.
Better still, “Health Markets,” the press release says, “will offer a choice between private insurers and a public insurance plan modeled after Medicare.” This would offer a crucial degree of competition. The public insurance plan would almost certainly be cheaper than anything the private sector offers right now — after all, Medicare has very low overhead. Private insurers would either have to match the public plan’s low premiums, or lose the competition.
And Mr. Edwards is O.K. with that. “Over time,” the press release says, “the system may evolve toward a single-payer approach if individuals and businesses prefer the public plan.”
So this is a smart, serious proposal. It addresses both the problem of the uninsured and the waste and inefficiency of our fragmented insurance system. And every candidate should be pressed to come up with something comparable.
Yes, that includes Barack Obama and Hillary Clinton. So far, all we have from Mr. Obama is inspiring rhetoric about universal care — that’s great, but how do we get there? And how do we know whether Mrs. Clinton, who says that she’s “not ready to be specific,” and that she wants to “build the consensus first,” will really be willing to take on this issue again?
To be fair, these are still early days. But America’s crumbling health care system is our most important domestic issue, and I think we have a right to know what those who would be president propose to do about it.

Saturday, February 17, 2007

Marginal Utility

I'll probably email the Edwards campaign with a suggestion. I can see the staff somewhere in Iowa sitting around a folding table at their lap tops waiting a good idea to come in.

Well here its "Marginal Utility". The economic justice arguments (sounds soft even to me) can best be made employing this phrase. It has the ring of scientific validity*, and appeals to common sense. I'll even propose an illustrative comparison. Scrooge McDuck and his nephew Donald. An extra ten dollar bill for Scrooge goes into that big vault where it does no good what-so-ever, except for when Scrooge feels like taking a dip. An extra ten dollars for Donald goes to fix the flat tire on his jalopy, so he can drive to work. Hell, you could come up with hundreds of illustrations/anecdotes that would resound with folks.

*more economic validity than the specious "Laffer Curve" which President Reagan used so effectively to rationalize income tax cuts in the early eighties.

Monday, February 12, 2007

Obama Watch

The night after announcing his candidacy Barak went to a party in Chicago thrown by Penny Pritzker and walked away with a million dollars in campaign funds. On the twentieth of this month he'll go to a party in Hollywood hosted by Spielberg, Geffen and Katzenberg where he could collect twice that much.
For all his popularity, Barak didn't have much in the way of funds. He's taking care of that little problem, but at what cost? If he's sliding into that "bought and paid for" swamp, it sure won't be the Palestinans who hold all his IOU's. So much for the new vision.
The pro-Israel folks will keep a foot in both camps, contributing "generously" to both Clinton and Obama. Makes me like John Edwards even better.
One guy to keep an eye on is Rahm Emanuel. He chairs the Democractic Congressional Campaign Committee - not a bad gig for a congressman first elected in 2003, but he's known to be the guy who decides which candidates get Jewish financial support in their primary and election campaigns. He even goes out and recruits candidates who support his pro-Israel, pro-big business ideology.
If he cozies up to Obama, Hillary will be very, very upset. It would almost be worth the pain of seeing Obama selling out to see Hillary's apoplexy when she gets the news. Oh, look who's on the guest list for the Hollywood party - Rahm's brother, Ari.
PS If you think I'm "making it up" about Emanuel, Google his name and check it out.

Saturday, February 10, 2007

Barak Obama

Just saw Obama's announcement of his candidacy. I've been skeptical because of his short history on the national scene; I haven't had time to figure out if if he's bought and paid for and if so who owns him. So far, in my mind, he's only slipped up once - when he criticized Senator Durbin for comparing Guantanamo to the Gulag.

I still think I favor Senator John Edwards, in terms of having both the ideals and the organization, but Obama continues to impress. I'd like to see both my guys whack away at the AIPAC candidate, that cold conniving political knife fighter. How come the media is so ready to annoint her, and provide her so much (favorable) coverage. Probably because they share her strong devotion to the state of Israel.

Bad News, but HFC probably deserves it.

I think the weakening in the stock market this past week was largely a result of the following announcement. (There was also some bad news about "flash" technology that hurt the chip manufacturers.)

HSBC Reports Rise in Troubled Loans

('http://www.nytimes.com/2007/02/08/business/worldbusiness/08bank.html');

HSBC Holdings said its charge for bad debts would be more than $10.5 billion for 2006 because of problems in its mortgage portfolio.By REUTERSPublished: February 8, 2007

LONDON, Feb. 7 (Reuters) — HSBC Holdings, a bank based in Britain, said on Wednesday that its charge for bad debts would be more than $10.5 billion for 2006, some 20 percent above analysts’ average forecasts, because of problems in its mortgage portfolio.HSBC said in a trading update late on Wednesday that slowing growth in house prices was being reflected in accelerated delinquency trends across the subprime mortgage market, particularly in more recent loans.Analysts had expected HSBC’s 2006 loan impairment charge to be $8.8 billion, according to the average of 11 analysts’ forecasts, the bank said.That figure is now expected to be about $1.8 billion higher, or about $10.6 billion.


In a nutshell, mortgage defaults are rising.

As I commented before, this is bad news for the housing industry, because fire sale prices on foreclosed homes undercut the market for other sellers. It's bad news for the banking industry, too.

The banks have been trying to get away from default risk on their loans by selling them to other investors. The banks now write the loans, collect the fees, bundle 50 $200,0000 loans together and sell the bundle to some pension fund for a million dollars. I suppose the buyers of the bundle insist on some buy back provisions if the borrower defaults within a the first two or three years. So the banks aren't entirely off the hook. And a lot of these mortgages that are being defaulted on are loans written in 2005 and 2006 when home prices were high and lending practices were relaxed.

HSBC (Hong Kong Shanghai Banking Company) decided to get into the American mortgage market by buying Household International, a lender with the worst of reputations, so their problems are popping up first but this is just the beginning of the mortgage default trend that's got a long way to go.

The folks who hold these bundled mortgages think of them as secured loans and may not appreciate the risk level. Also credit insurance is available and has been fairly cheap for these big investors, but the problem isn't always in getting insurance. Often it's collecting on the insurance. A lot of the insurance they have is written in the derivative market by hedge funds. The insurers were betting nothing bad would happen, and nobody knows if they have the money to pay off if they lose the bet. The harder I look at these insurance policies (credit risk swaps) the more confused I get. This is the old "counter party risk", and it's very hard to quantify- which means its probably worse than you think.. (See Enron)

Friday, February 09, 2007

Weird Week

Steffo told me she thought the moon was in Libra this week, and she thought that meant I would have a good week. Well, so much for astrology.

Wednesday my Nissan wouldn't start so I drove Janett's Buick to work. It steered funny. A couple of weeks ago I told her the allignment was bad, and it seemed to get worse. I checked the tires because turning at low speed it felt as though I was driving on a flat. On ice and snow on the way home it felt even worse. like I was slipping and sliding, and that I could even have slid into the wrong lane. Also, I forgot my lunch. Also my glasses broke at work. When I got home I ran the battery down on the Nissan tryng to start it and then I couldn't get the hood open to recharge the battery. Thursday I didn't go to work. Pretty much sulked the day away.

Lou's mom died Monday. The wake was Thursday evening. Kim gave me a ride because I wasn't going to drive the Buick, and the Nissan still would not start. Lou and his kids seemed to be OK. Sally's health had been deteriorating for some time. I worry abouy his dad.

When we got home Kim helped me open the hood on the Nissan and I charged the battery. then I got the damn thing running. They say since the invention of electronic ignition you're not supposed to pump the accelerator to start the car. Well I ended up pumping it alot, and eventually holding the pedal to the floor to get it started.

So, today things got better. I went to the memorial service. Then Janett, Kim and I went to a fun lunch Then we dropped by the hospital so Janett could make arrangements for a test on Monday. then we stopped at a mall for some light shopping. Oh, and Janett found my spare glasses,

Yeah, Baby. ND #1

We don't have frats, but we got our Bluto: http://www.youtube.com/watch?v=GZiuzbRj5_I

(I'm having trouble linking)

Saturday, February 03, 2007

Ron Zook's Recruiting Success

From SMQ Sunday Morning Quarterback

Read it all, or start halfway down to learn Coach Zook's recruiting secret.

"In his ongoing effort to expand his knowledge and passion for the usually ignored, slightly disconcerting and irredeemably corrupting meat market of college football recruiting in its final hours before Signing Day, SMQ tracked down Illinois commit Arrelious Benn in the nation's capital for his perspective on the trials and triumphs of the recruiting process.

The 6-foot 2-inch D.C. native played both ways at Dunbar High last year and starred at linebacker, but signed with the Illini as the number two prospect in the nation at wide receiver and the twelfth-best overall recruit by the online service Scout.com after catching more than 100 passes for 1,139 yards and 25 touchdowns over the last two years. Benn sat down with SMQ over light tuna and coconut ceviches with avocado at the foot of the Lincoln Memorial overlooking the majestic reflecting lake on the Washington Mall to talk about his decision to attend Illinois, overcoming adversity in a rough urban neighborhood and his expectations within the Illini offense as a freshman next fall.

SMQ: Okay, first of all, I have to know: where does the name come from?

Arrelious Benn: [Laughs] Yeah, yeah, I get that a lot. 'Arrelious,' I don't know. My mom just liked it, I guess, I hadn't ever asked her. People ask me, I'm just like, "Damn, I don't know. Get off me," so it's not something I really think about. But there's only one Arrelious.

SMQ: Well, obviously your talent and your play over the last couple years speaks to that. You're moving away from home, though, pretty far from D.C. How's that adjustment going to work?

AB: Well, you know, the weather's a little different, it's just like, a different sorta town, know what I'm sayin'? D.C. is like, a straight city, right? But it's different to go to a place that's more like a campus-type environment, which is totally different than what I know here. But I'm excited. I'm looking forward to the challenge of competing. Football is football. I'm just gonna go out and do what I do. Big players make big plays in big games.

SMQ: You have a 3.25 GPA, which is better than me in high school, let me tell you. How much did academics factor into the decision?

AB: Aw, grades were huge, definitely, the school part is a big deal. I could have wound up somewhere else where maybe I could have played a little earlier, maybe had it a little easier in the classroom, but my mama wouldn't have it. Wouldn't have none of it. She said, "You going to a place you can get a degree people will respect," and there was no arguing with that.

SMQ: Did Coach Zook make any promises about playing time?

AB: No, no, definitely not. I know what a competitive situation it is there. I'm excited to compete with a couple of the guys they got coming back at receiver to compete for the job. I was excited that I might have the opportunity to run the ball a little bit by what they're doing, opening it up a little more, I think. I don't expect it to be easy at all, but they're making the transition to a more athletic quarterback who might be a little bit better fit in the offense, he's just going to be a sophomore. So he'll be getting better, and we're all adjusting with one another and we'll have a couple years to keep getting better and better and in sync.

SMQ: All things considered, your commitment was somewhat of a surprise. How did Coach Zook bring you on board?

AB: Coach Zook, man, that man is a trip. They see he's got one spped - 100 miles and hour, and he goes that fast all the time. And they ain't lyin'. He took me out, like, jet skiing and that kind of thing, you know. On my visit...


...he took me out on this huge ass lake and we just tore it up in this little boat he had. Coach Z was cool, he was cool, definitely. Introduced me to some girls on campus, took me out on the field and had all the lights on and we tossed the ball around and he was acting all like he was the P.A. guy, throwing it and making me run routes and the whole thing, calling it, like "Benn at the 15, at the 10, Benn's gonna go!! Touchdown, Arrelious Benn!" And he'd do the crowd noise with his mouth and run up to me in the end zone and do the chest bump and everything. He made me douse him with Gatorade. That was kinda weird. But he was kind of more like a buddy than a coach, not like some of the coaches I talked to who felt like they'd be looking over my shoulder all the time. He definitely made me see myself in the orange and blue.

SMQ: It was a bit of a surprise that you chose to go to Illinois, which is a team that has historically struggled and hasn't won recently...

AB: Wait, man, say what? I'm going to play for Ron Zook at Florida, dawg.

SMQ: Wait, I thought you committed to Illinois. [Looking through notes]

AB: Naw, dawg, naw, Florida, man. National champions.

SMQ: But...you signed with Ron Zook.

AB: Yeah. Florida. Tim Tebow, baby.

SMQ: Ron Zook's the coach at Illinois.

AB: No way, he was decked out in Florida shit, we were in the Swamp. Florida cheerleaders huggin' on me with their little garters way up the thigh.

SMQ: Are you sure?

AB: They had little Florida uniforms on...but they were a little pale, come to think of it. And they did call him 'dad.' And the old one had a sweater tied around her neck. [Long pause] He's where?

SMQ: Um, Illinois. The Fighting Illini? He was decked out...he didn't mention he got fired at Florida, like, more than two years ago?

AB: The Fightin' what? Where the hell is that?

SMQ: Illinois? It's...Illinois.

AB: [silence]

SMQ: They were, um, 2-10 last year. Last place in the Big Ten.

AB: This be some bull shit.

Arrelious Benn is rated as the second-best wide receiver prospect in the nation by Scout.com.

Friday, February 02, 2007

Letter to the Editor

Today (Friday Feb 2) The Chicago Tribune printed a letter to the editor that read something like this:

If an actual colt went up against an actual bear, the bear would win.

That was it. It took me several moments to recognize the letter for what it was, a sly commentary on the content of the Trib's editorials on the page next to the letters to the editors. The writer was attempting to mimic the wisdom and integrity of the Tribune's editorial staff.

It used to be that in the rest of the newspaper you found the facts, in the editorials you found the truth. Now you find Opinions. That's how the Tribune titles their editorials: Opinions. And whose opinions? Two right wing ladies
so lightweight they must carry rocks in their purses to keep from blowing away on their way to the Tower, one black lady for local color, a "historian" from the Hoover institute who features his middle name so prominently he may be an aspiring assassin, and that poisonous toad from the New York Times.

And they wonder why readership is declining. I am a loyal (daily) reader. When they lose me they can turn out the lights, and they're almost there.