Martin Longman a contributing editor at the Washington Monthly.
He is also the founder of Booman Tribune and Progress Pond. He has a degree in philosophy from Western Michigan University.
Matt Blunt (governor of Missouri) just shocked the state (and apparently his own party) by announcing that he had achieved everything he set out to do when he ran for governor and he’s decided not to run for a third term for governor of Missouri.
We’re very excited speculating when the other shoe will drop and the indictment will be handed down. 🙂
My family hates Blunt. My dad went on a 2 hour tirade against Blunt a few months ago, my phone is still steaming. I’m surprised no one’s called me to tell me the good news.
Sarah Steelman, the Republican state treasurer had been considering running in the primary against him because his poll numbers are so atrocious. She announced at noon today that she would seek re-election as treasurer.
the significance of the Fed’s rate slashing just one hour before the Wall Street opening this AM. They were obviously reacting to the negative opinion of the US economy shared by the rest of the civilized world. Worried about a huge selloff at the opening, they knew that a drastic, emergency measure was needed. The Fed statement, of course, says nothing of this. They seem to want us to believe that the last minute timing was just a coincidence:
The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth. While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets.
Not much to discuss… Rate is going down another quarter point at the next meeting… people can’t get good return on money in the bank… inflation takes a bite outta crime… fed fucks up again and hyper inflation commences… mortgage holders become debt slaves… braindrain… speculators make a fortune selling molatov cocktails at the entrance to the Holland Tunnel.. cats and dogs living together..
Is Bernanke playing politics here, attempting to avoid a recession in a year that is already slated to send the Republicans back to the cave?
Just read some interesting articles that imply Bernanke is deviating from the central task of the Fed, which is to keep inflation under control. Last year, inflation was 4.1%, the highest in 17 years. By lowering the rate to stimulate growth or recovery, the risk for even more inflation in the year to come is increased along with the risk for a deeper recession than expected.
Republicans living on borrowed money since Reagan. Why would they change now. Inflation, depression or both, pick a poison. Beranke can’t afford for the economy to stall because the deficit will blimp out due to revenue loss. Making the dollar weaker and everything else more expensive. He is going to get the same thing by lowering rates a weaker dollar and more inflation he may be farked. We may be farked.
To tell you the truth I thought this would happen under Reagan. Not being an economist I didn’t realize how much debt the country could handle. Remember Stockman in the eighties “We never had the numbers” or something like that. Irresponsible tax cuts to win elections. The Republicans have found Democracy’s achilles heel. I think we are farked.
of course he is. BushCo™ has to get thru 2 more FU’s and then it’s the demoRATs fault when all the shit from the past 7-8 years collapses.
the d‘s ought to be screaming in the media about how the policies of the past 7 years have propaged this, along with expounding on solutions. which will, by neccessity, involve bringing the financial sector of the country back under some serious control and oversight scrunity…which btw, should have happened after the enron and other debacles, but didn’t.
stagflation is a real danger as well, if not already present.
the d‘s are going to end up owning this just like iraq and the ME quagmire
Bernanke and Paulson are both trying desperately to keep the Greenspan bubble inflated past the election. They might as well be trying to keep a blimp aloft with a bicycle pump. I don’t think they can possibly do it, and the longer and harder they try the worse it will be when the bubble pops.
Helicopter Ben is out there again throwing money from his chopper……
it’s too late. they are trying desperately to re-inflate the bubble by tossing good money after bad. it won’t work. the whole shebang has to unwind and there are going to be heavy losses in america as nearly everyone has been living high on the speculative hog for the last 7-10 years.
on January 22, 2008 at 8:14 pm
From the San Francisco Chronicle: 482.5% increase in Bay Area defaults.
Ian Traynor in Brussels
January 23, 2008
Advertisement
THE West must be ready to resort to a pre-emptive nuclear attack to try to halt the “imminent” spread of nuclear and other weapons of mass destruction, according to a radical manifesto for a new NATO.
The document, written by five of the West’s most senior military officers and strategists, has been presented to the Pentagon and NATO’s secretary-general.
They have called for root-and-branch reform of NATO and a new pact drawing the US, NATO and the European Union together in a “grand strategy”.
snip
Among the most radical changes they demand are:
■ A shift from NATO consensus decision-taking to majority voting, meaning faster action.
■ The abolition of national caveats in NATO operations of the kind that plague the Afghan campaign.
“The questions come to Israel, whether it will use military force to stop Iran,” former US ambassador to the UN John Bolton said Tuesday.
Speaking at the eighth Herzliya Conference, in a special session devoted to the Iranian nuclear race, Bolton said: “The United States used to have a policy on Iran and recently there was a new push to create a new policy [sic] but sadly, due to the direction American policy is going, it seems that for the next few years the United States will be a bystander to the process.”
“It’s close to zero percent chance that the Bush administration will authorize military action against Iran before leaving office. At the same time in Teheran, they took careful notice of how Israel got into Syria and began preparing for such an action against Iran. Without American policy backing anti-Iran action, Israel should be willing to see itself as a possible last resort.” http://www.jpost.com/servlet/Satellite?cid=1200572520107&pagename=JPost%2FJPArticle%2FShowFull
The Obama campaign posted the sermon/speech he gave at Ebenezer Baptist Church on Sunday at YouTube yesterday. Since they posted it, it has gotten over 318,000 views and is being “favorited” at a record pace. For a long video (34 min.) that is very impressive. It should be interesting to check on it in a week or so and see how it rates. While I had already seen the speech, I read about this and went over to check it out. Some of the comments are quite inspiring, like the speech itself.
Just thought some of you might be interested. And if you haven’t seen it, check it out. It’s good.
The homeowners cringing in the media rooms of their 5000-square-foot personal family resorts don’t know how long they can stay put microwaving pepperoni hot pockets with the default clock ticking.
Matt Blunt (governor of Missouri) just shocked the state (and apparently his own party) by announcing that he had achieved everything he set out to do when he ran for governor and he’s decided not to run for a third term for governor of Missouri.
We’re very excited speculating when the other shoe will drop and the indictment will be handed down. 🙂
oops, make that a second term. His first term has only seemed like it’s been eight years.
My family hates Blunt. My dad went on a 2 hour tirade against Blunt a few months ago, my phone is still steaming. I’m surprised no one’s called me to tell me the good news.
Everyone is.
Sarah Steelman, the Republican state treasurer had been considering running in the primary against him because his poll numbers are so atrocious. She announced at noon today that she would seek re-election as treasurer.
There were no rumors. Nuthin.
There’s a fishy land deal or knocked up mistress in this equation.
violation of law relating to e-mails deleted in his office (and pissed off whistle blower who has filed suit for defamation)
links to the Abramoff
tenuous links to the US attorney scandal
Could be many things 🙂
At least it’s good old-fashioned Republican values at work.
the significance of the Fed’s rate slashing just one hour before the Wall Street opening this AM. They were obviously reacting to the negative opinion of the US economy shared by the rest of the civilized world. Worried about a huge selloff at the opening, they knew that a drastic, emergency measure was needed. The Fed statement, of course, says nothing of this. They seem to want us to believe that the last minute timing was just a coincidence:
Bullshit.
They did it because world opinion forced them.
Not much to discuss… Rate is going down another quarter point at the next meeting… people can’t get good return on money in the bank… inflation takes a bite outta crime… fed fucks up again and hyper inflation commences… mortgage holders become debt slaves… braindrain… speculators make a fortune selling molatov cocktails at the entrance to the Holland Tunnel.. cats and dogs living together..
l wouldn’t be surprised at 1/2pt. more, the past 2 days were just the first shoe dropping.
/chimpy’s SOTU on the 28th shpu;d be very interesting.
let’s hear it for tax cuts!
lTMF’sA
Is Bernanke playing politics here, attempting to avoid a recession in a year that is already slated to send the Republicans back to the cave?
Just read some interesting articles that imply Bernanke is deviating from the central task of the Fed, which is to keep inflation under control. Last year, inflation was 4.1%, the highest in 17 years. By lowering the rate to stimulate growth or recovery, the risk for even more inflation in the year to come is increased along with the risk for a deeper recession than expected.
Republicans living on borrowed money since Reagan. Why would they change now. Inflation, depression or both, pick a poison. Beranke can’t afford for the economy to stall because the deficit will blimp out due to revenue loss. Making the dollar weaker and everything else more expensive. He is going to get the same thing by lowering rates a weaker dollar and more inflation he may be farked. We may be farked.
To tell you the truth I thought this would happen under Reagan. Not being an economist I didn’t realize how much debt the country could handle. Remember Stockman in the eighties “We never had the numbers” or something like that. Irresponsible tax cuts to win elections. The Republicans have found Democracy’s achilles heel. I think we are farked.
of course he is. BushCo™ has to get thru 2 more FU’s and then it’s the demoRATs fault when all the shit from the past 7-8 years collapses.
the d‘s ought to be screaming in the media about how the policies of the past 7 years have propaged this, along with expounding on solutions. which will, by neccessity, involve bringing the financial sector of the country back under some serious control and oversight scrunity…which btw, should have happened after the enron and other debacles, but didn’t.
stagflation is a real danger as well, if not already present.
the d‘s are going to end up owning this just like iraq and the ME quagmire
fools, the lot of them. both sides of the aisle.
lTMF’sA
Bernanke and Paulson are both trying desperately to keep the Greenspan bubble inflated past the election. They might as well be trying to keep a blimp aloft with a bicycle pump. I don’t think they can possibly do it, and the longer and harder they try the worse it will be when the bubble pops.
Helicopter Ben is out there again throwing money from his chopper……
it’s too late. they are trying desperately to re-inflate the bubble by tossing good money after bad. it won’t work. the whole shebang has to unwind and there are going to be heavy losses in america as nearly everyone has been living high on the speculative hog for the last 7-10 years.
From the San Francisco Chronicle: 482.5% increase in Bay Area defaults.
Just saying.
Top brass call for nuclear first strike
What you present implies that it is not security failure that will come in the form of a mushroom cloud, but security itself will!
I am listening to a wonderful interview with Grace Lee Boggs on Democracy Now. She is a ray of sunlight in my hometown.
See, I’m gone all day and no one even missed me.
Damn yankees.
I missed you, boran2.
Thanks!
If you cared about me you wouldn’t have been gone all day.
Yet more proof of my selfish nature.
Hey I missed everybody. Well maybe not Boran that much. 🙂
Hay, haven’t you got some unfinished slacking to complete?
The Obama campaign posted the sermon/speech he gave at Ebenezer Baptist Church on Sunday at YouTube yesterday. Since they posted it, it has gotten over 318,000 views and is being “favorited” at a record pace. For a long video (34 min.) that is very impressive. It should be interesting to check on it in a week or so and see how it rates. While I had already seen the speech, I read about this and went over to check it out. Some of the comments are quite inspiring, like the speech itself.
Just thought some of you might be interested. And if you haven’t seen it, check it out. It’s good.
http://www.youtube.com/watch?v=Kf0x_TpDris
I listed to the whole thing — it was awesome.
James Howard Kunstler gives good prose.