Not a bad day.
Up at six-thirty, coffee and some Internet, five loads of wash done and put away, breakfast, paid bills and rent, went to lunch. Now just Perry Mason and a nap left on the plan. Life is good.
I blog to differ.
Up at six-thirty, coffee and some Internet, five loads of wash done and put away, breakfast, paid bills and rent, went to lunch. Now just Perry Mason and a nap left on the plan. Life is good.
Let's see now. Pelosi promised to deliver 110 votes to pass the republican bailout and she delivered 140. She criticized the Bush administration's economic policies that let Wall Street run wild. The republicans got their feelings hurt so they voted down their own bill.
Pelosi made it clear that the Bush administration decided that a bailout plan is needed and that giving them $700 billion was really probably stupid but that it was the best congress could do for now. From what I've seen, I think it is pejorative to keep putting up the $700 billion as the number and I don't think she or anyone should keep using it. I don't know that the bailout as proposed, would amount to that much over the long run because after Bush is gone, there is a chance to make some changes. By the same token, I'm not sure that leaving the problem to the markets and letting it take it's lumps is going to be as bad as the administration and probably too many others seem to think.
Overheard from three folks with laptops at the coffee shop today; several DFW area police departments have people that post ads on craigslist in several sections for the purpose of setting up drug and prostitution stings. From what I could gather they are doing it a lot. That really got me wondering about how many of those kinds of things are entrapment.
It should be noted that Roy Chapman does not call for more ministers, chaplains or religion in reforming prisons.
New research in brain science shows us a little more about the differences in the way human brains learn. Age has strong implications in the capacity to learn from negative feedback. Until our noggins are about twelve years old, we don't learn so good from our mistakes and failures. I suspect that not learning from mistakes carries on well past twelve in some folks. I've shed some close friends on occasion though my fairly long life because of that. I developed some habits early in my aviation training and career that are almost a sixth sense that causes warning lights to come on when I'm around someone that has problems learning from negative results. It's rarer now but, that still gets in the way some days. I've been around some folks in the past that seemed to get the same result from doing it wrong day after day just as regular as sun up. After a couple of those dawns, I'm ready to go find grown-ups to hang with.
The little fake portfolio I put together a few days ago is still doing pretty well except that something ate the WM stock. Washington Mutual failed so I guess the stock is worthless. I don't know how that works but it's not pretty. The rest of the four stocks have held up pretty well though with a net gain as of right now of 108.37% since Sept. 22. I'm greedy when it comes to play money so I'll let the bet ride and see what happens after all the political grand-standing over the bailout brouhaha.
I saw the trailer for the upcoming movie 'Blindness.' A bunch of people supposedly go blind. But, I noticed they were able to put on matching shoes and clothes and do their hair and stuff.
Just the rumor of the new bailout by adults spurred a rally in the stocks I was looking at yesterday. Well three out of four anyway. How about +5.93%, +65.82%, and +55.29% in one day?! The one loser was down 3.9%. It is a long way from over and the rest of the market will come along after the bill is signed. I'd bet on some high four and maybe some five figure percentage gains on some of the cheap stocks and double digit at the whole market level over the next few months. But no one knows how long it will last. It's a good thing I have to work on signing up for Medicare or I might be out robbing banks to invest in this market! I'm good at resisting gambling urges when I'm broke. That's what saved me from the ruin of buying Google at $250 a share. Ha!
The horribly stupid proposal from Treasury to just get a blank check and go sling $700 billion dollars into the streets has been countered by an actual proposed law that contains actual plans and processes and oversight and responsibilities and it looks good. It is here. Competence is such a good thing! I hope this is the one that gets passed. If it does, I predict a huge stock market bounce and a recovery in the dollar value beginning immediately after it's passage. Now is a good time to buy some AIG, FNM, FRE and even some WM they are cheap and essential to the world. If they don't come back, money won't be worth anything anyway.
It's on the Obama website.
Took me less than a minute.
Enter name and address, and it will check you against the official voter role to confirm that you're registered to vote. Cool! (And yes, they're harvesting email addresses, but you can enter null@null.com and the system accepts it.)
The system will also tell you whether and when (but not where) early voting is available in your state.
This is worth doing, and telling your friends about. Not only does it ensure your vote, it keeps you from holding up the line for everyone else on Election Day. And if you're in an early voting state (most are), please do vote early if you can. Every vote cast before Election Day makes it that much easier for the people who do vote on Election Day. Shamelessly stolen from RBC - Pass this on.
I saw a news story showing a bunch of congressional leaders sitting across the table from a bunch of financial industry leaders and treasury dept. heads and the headline was something to the effect of 'Congress stunned to hear nation's economy days away from collapse." The obvious question seems to me to be; Why are they just learning of something of that magnitude about the economy only days before? If that is true, it seems to me that everyone in that room should at least be fired or better yet, on their way to prison.
The only way this problem could have been created and perpetrated all while the government agencies and administration charged with the responsibilities of monitoring and regulating the industry have been reporting a robust and strong economy is for there to have been massive fraud and lying in both reports to government and by government. It is a crime to lie to government officials in official reports and it is a crime for government and agency officials to make false reports.
Now we have the text of the proposed fix in the form of the federal treasury buying the 'bad paper' to save the banks that are holding them now. Secretary Paulson must have got Dick Cheney to write the proposed legislation. It gives the secretary absolute power to do just about anything he wants and makes his actions totally un-reviewable by even the courts! (Section 8)
There is not one syllable in this legislation speaking to preventing the practices that got us in this mess from continuing even as the bad debts are shifted to the treasury. There is not even a call to investigate the wreckage. NOT ONE WORD!
The plan is a two year plan and it's purpose is none other than to shift the responsibility for cleaning up the fraud to the middle of the next administration's term.
I hope the first move by the next government is to prosecute the bastards that have been running this massive credit scam.
Here's the proposed legislation. This too may be a smoke screen but it is sure as hell for the benefit of banks that are still solvent. And it is strapping our federal treasury with far more than the FDIC $100,000 limit per account of relief. Guess who profits and who loses.
Everyone, call your congress people and tell them to commit in writing and in this act to investigating and prosecuting those responsible for this mess.
LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY
TO PURCHASE MORTGAGE-RELATED ASSETS
Section 1. Short Title.
This Act may be cited as ____________________.
Sec. 2. Purchases of Mortgage-Related Assets.
(a) Authority to Purchase.--The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States.
(b) Necessary Actions.--The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:
(1) appointing such employees as may be required to carry out the authorities in this Act and defining their duties;
(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;
(3) designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them;
(4) establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase mortgage-related assets and issue obligations; and
(5) issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act.
Sec. 3. Considerations.
In exercising the authorities granted in this Act, the Secretary shall take into consideration means for--
(1) providing stability or preventing disruption to the financial markets or banking system; and
(2) protecting the taxpayer.
Sec. 4. Reports to Congress.
Within three months of the first exercise of the authority granted in section 2(a), and semiannually thereafter, the Secretary shall report to the Committees on the Budget, Financial Services, and Ways and Means of the House of Representatives and the Committees on the Budget, Finance, and Banking, Housing, and Urban Affairs of the Senate with respect to the authorities exercised under this Act and the considerations required by section 3.
Sec. 5. Rights; Management; Sale of Mortgage-Related Assets.
(a) Exercise of Rights.--The Secretary may, at any time, exercise any rights received in connection with mortgage-related assets purchased under this Act.
(b) Management of Mortgage-Related Assets.--The Secretary shall have authority to manage mortgage-related assets purchased under this Act, including revenues and portfolio risks therefrom.
(c) Sale of Mortgage-Related Assets.--The Secretary may, at any time, upon terms and conditions and at prices determined by the Secretary, sell, or enter into securities loans, repurchase transactions or other financial transactions in regard to, any mortgage-related asset purchased under this Act.
(d) Application of Sunset to Mortgage-Related Assets.--The authority of the Secretary to hold any mortgage-related asset purchased under this Act before the termination date in section 9, or to purchase or fund the purchase of a mortgage-related asset under a commitment entered into before the termination date in section 9, is not subject to the provisions of section 9.
Sec. 6. Maximum Amount of Authorized Purchases.
The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time
Sec. 7. Funding.
For the purpose of the authorities granted in this Act, and for the costs of administering those authorities, the Secretary may use the proceeds of the sale of any securities issued under chapter 31 of title 31, United States Code, and the purposes for which securities may be issued under chapter 31 of title 31, United States Code, are extended to include actions authorized by this Act, including the payment of administrative expenses. Any funds expended for actions authorized by this Act, including the payment of administrative expenses, shall be deemed appropriated at the time of such expenditure.
Sec. 8. Review.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
Sec. 9. Termination of Authority.
The authorities under this Act, with the exception of authorities granted in sections 2(b)(5), 5 and 7, shall terminate two years from the date of enactment of this Act.
Sec. 10. Increase in Statutory Limit on the Public Debt.
Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $11,315,000,000,000.
Sec. 11. Credit Reform.
The costs of purchases of mortgage-related assets made under section 2(a) of this Act shall be determined as provided under the Federal Credit Reform Act of 1990, as applicable.
Sec. 12. Definitions.
For purposes of this section, the following definitions shall apply:
(1) Mortgage-Related Assets.--The term “mortgage-related assets” means residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before September 17, 2008.
(2) Secretary.--The term “Secretary” means the Secretary of the Treasury.
(3) United States.--The term “United States” means the States, territories, and possessions of the United States and the District of Columbia.
It was one of those days that I just couldn't stay away from Craigslist. I saw an old Dell 4100 advertised for $25 so I dropped an email to the ad. A few hours later a guy calls and he is just down the toll road about two miles. I told him I didn't need the keyboard and mouse but could use some speakers with the machine. He knocked off five bucks and threw in some speakers.
A few years ago, I was driving along minding my own business and wondering how I could get smarter about my job and such when I saw a bunch of cars at the Addison conference center saying something about a wellness convention. So to take a break, I circled the block and went in to see what was happening. It was one of the strangest things I've ever seen. It was also pretty scary. The place was full of fortune tellers and holistic bullshiters acting with complete immunity. Worse, there were lots of people there actually buying the crap. I wondered around and asked a few questions but soon realized that I'm not smart enough to take much of it. In a little seminar, some lady was explaining, straight faced, to a fairly large group of people what kind of music to play to their drinking water. There was a couple of crystal vendors and various other snake oil, err I mean, alternative medicine/lifestyle sellers. It didn't take me long to regret the $5 entry fee and I was out of there. On my way out I was walking past some guy that was a psychic or something and he started trying to ask me something. I don't remember what he asked; I just stopped and said to the effect of, if you're what you say you are, I would guess you already know the answer and if you can't figure it out, I held up my cell phone and said "Just call me later." I guess I'm not much smarter about hardly anything now than then but, he never called and I'm not ever going back there. I hate that stuff.
I guess it will be about to prosper from another righteous answer to all that praying for it to rain on Obama. But, somehow it reminds me of J.Allan Toogood, FORTRAN programmer sayin' "God is Real, unless declared Integer."
I watched Charlie Gibson try to interview the Palin half of what has become the Palin/McCain GOP ticket last night. If they had been in front of a live audience in a setting like Saturday Night Live they would have brought the house down - Gibson for obviously over simplifying his questions to the point they were non-sequiter and Palin for her over important body language, facial ticks pointy finger characeraturing that holy confidence trumps thoughtfull and expanding reponses on complex subjects. It would be hillarious to see Tina Fay spoofing Palin by saying "I've got important foreign relations expertise because I've been to Canada and Tiajuana and because Russia can be seen from one of the desolate Alaskan islands way out in the West." Oh yeah and Palin can't even pronounce the word "nuclear". But it was not SNL and it was not in the least funny. Gibson leant way to much importance to her by even interviewing her. It was obvious he was there for the shallowest of reasons. ABC ratings.
I also despise quote-mining but am ill equipped to deal with it. PZ Myers is not so handicapped! Best comment ever is number 37.
Christian quote mining has a very long history. Much of Christianity itself based on quote mining the Hebrew Bible for "evidence" of "prophecies" of the coming of Jesus (insert off-colour comment here). Many of you are probably familiar with the whole mistranslation of the Hebrew "almah" (spelling?), meaning "young women" to the Greek "parthanos" meaning "virgin", giving rise to the whole doctrine of the virgin birth. I recently read a book called How Jesus Became Christian which tells the story of how a nice Jewish boy's ideas got subverted and/or disregarded by Paul to found a new religion which he would probably not have recognized or approved of. It is the story of how the religion of a fully human, fully Jewish Jesus became the religion about the divine, gentile Christ. Watch any of the "end-time" sermons of the televangelist to see how far away from "literal" translation they are capable of straying. It's sadly amusing how they can find all sorts of biblical "evidence" to support their lurid scenarios in highly imaginative and less than simply literal interpretations of "prophecy" to show how America and the rest of the world will, er, um, "interact" in what they believe and hope to be the imminent End of the World. And yet Genesis is to be used as a science textbook (tell me, though, where are the wombats?). Go Figure. If they have so little respect for the careful, scholarly use of their own texts, how can we expect them to show care or respect for any other written source?
It reminded me of thinking once that if I had one thing of my previous career as a dad to live over again, instead of letting my dear old mom (who never set foot in a library) fill my kid's brains with her religious nonsense and booting my influence out the window, I would have made sure my kids read two books; The Demon-Haunted World: Science as a Candle in the Dark by by Carl Sagan, Ann Druyan and Why People Believe Weird Things : Pseudoscience, Superstition, and Other Confusions of Our Time by Michael Shermer and Stephen Jay Gould. But I still don't think I would have taken my dad's track when he told me he didn't believe too much of the stuff mom said but he had to get along. That's one of those things I call un-do-overable.
The only argument I had with Sagan and Druyan was that they were not firm enough in their rebuke of superstition. Too many people think of superstitions as no worse than play things and curiosities. They are wrong. They are religions now and are the most dangerous and insidious forces in the universe.
So, what's the deal? During McCain's convention speech the image of an unidentified mansion-like building appeared on the big screen in the background behind him. No one seems to remember anything in the speech during the time the image was shown that seemed to link to the picture. Someone figured out that the image was that of the Walter Reed Middle School in North Hollywood, California. Some think the video gurus screwed up and meant to project a picture of the Walter Reed Army Medical Center. The Walter Reed Middle School has written that they did not give permission for the RNC to use the image of their school and that they do not support any political candidates. Even odder though, it turns out that the building behind McCain was also used as the backdrop for Matt Santos' announcement of his presidential candidacy on The West Wing.
Over the past few months, I've been trying to sell a small piece of property. I got the check today. The property is in Pecos in Reeves county Texas now only described as:
Now that the political season has passed for me except for vote day, I'm gonna get shave, showered and dressed and go outside for the sole purpose of fixing the glove box light on my truck so it will shut off and stay off when the door is closed and stop killing the battery. When that's done, it will be a good day.
I tried to be charitable while watching Senator McCain deliver his acceptance speech last night. I know I'm biased by the sense of rage I have stemming from these eight long years of the Bush administration's failures. But I wanted to try one more time to think about stuff the way most everyone I know seems to. So I listened and watched as much of both convention as I could. PBS had more than three times as much coverage as the big three so I watched PBS. I saw and heard a lot more speeches than I would have seen otherwise. I find myself still firmly in the Democrat camp today. I just cannot get G.W. Bush out of my head. He got there by a series of fluke meetings in '97-'98. I witnessed his handlers leading him around and heard snippets of their conversations enough to know that the side the light shines on is a complete, utter fraud to the public. Over the years I have come in contact with a few of those kinds of folks and their supporters. But the conservative take over of the Republican party is one of the most disgusting forces I have ever encountered. One theme that comes to me over and over through the years watching this thing grow is the incompetence of not only the front-men/women but how that incompetence runs through all the way to the core of the culture. It shows in the little things like the background screen screw up during McCain's speech, the balloons failing to drop, practiced but stiff crowd reactions. I think John McCain is a man that still has a small conscience and it is bothering him to try and stand up there and deliver the crap those really in control of the party require him to say. But his body language fails. That doesn't come through to me from Bush who is seems a complete psychopath. So, I see John McCain as a pretty fair representation of Republicanism as it stands today taken over by some of the most evil, self serving forces in history - a culture that now has only a trace of human dignity left. That tiny trace is being systematically both cynically exploited and suffocated by the ruthless hijacking and exploitations of everything from our religious traditions to every social symbols we have acquired for ourselves. It is the weakness of those very symbols that can make us so vulnerable. They are only symbols. When we start to worship the idol instead of really understanding and testing and exercising human meaning we will be easily conquered. Exploiting the sufferings of the real people who have so dreadfully suffered the consequences war as POWs for the purposes of getting elected instead of focusing on the here and now is a sham and we should be ashamed of ourselves. I remember many men from when I was young who had fought in WWII. I remember only a few of them ever spoke about their experiences in public. I remember that even when they spoke among themselves about anything related to their experiences there were strong boundaries of honor that brought instant rebuke to anyone who in anyway used the experience to call attention to either themselves or to promote anything at all. Their memories were of the bloody nightmares. They understood it was not a path to glory for them. To a man, they loathed being held up for glory. Many simply would not do it. But there were a few exceptions. I learned at an early age in which hearts corruption flourished.
Gov. Sara Palin's delivery of her GOP speech proved beyond a shadow of a doubt that she can lie straight faced. All I saw from the convention delegates was a bunch of folks trained to scream on cue. I call it Oprah drool. There's no doubt now that McCain chose this woman for political show value and not for the good of the country. She stood there last night and repeated the lies about her role in the bridge to nowhere, omited every connection to indicted Ted Stevens and otherwise led the audience in holering at things no more important or substantive than pep rallye slogans and derision. I'm surprised they didn't dress her up in little a red white and blue cheerleader outfit with pmm-poms and stick a homecoming queen crown on her before it was over. Funny that no one seemed to get the conflict between her touting her so-called CEO experince and the fact that McCain has none. The fact checking is under way and it just shows what kind of evangelicals they are.
Just yesterday, I was looking through an old physics textbook I have. A First Course In Physics by Robert Andrews Millika, Ph.D., Sc.D. and Henry Gordon Gale, Ph.D. (both of the University of Chicago) does not contain the name Einstein nor the words galaxy, nuclear fusion or fission or anything about radio or radio tubes or much of anything we take for granted as the basics of physics today. The pictures facing the title page are of recent achievements in applied physics, Andre' Beaumont speeding over the Marconi wireless station at Genoa in a monoplane at well under a hundred miles per hour, I wager, and pictures of cloud chamber tracks left by Alpha particles, Beta particles and X-rays. It is hard to imagine that we could progress to the LHC in less than 100 years from when that book was written seeing how little we knew then. Thanks to Kate McAlpine, here's to progress and the knowledge that we have just scratched the surface of the beauties and wonders of reality.
Obama has answered the Science Debate questions and they are good answers. McCain has not bothered to even respond. That makes at least 15 reasons on this issue alone to vote for Obama.