Commentary: Obama is flunking economics
Mr. Navarette,
Would you prefer that we follow the Republican proposal to let these huge institutions fail? It was the "free market" mentality which allowed these institutions to become so large, and so entangled in the financial system that their failure would lead to financial chaos. The Republican proposal would take the economy down with the banks and insurance companies. If we were to follow your ideas, we will look back at this time as the Great Depression 2.0.
I don't have any crazy idea that Obama is infallible. But I do think he is doing what needs to be done for the long term good of the country.
In closing, I would like to point out that Bush did have a great deal to do with creating the economic hurricane we are currently in. He pushed for the changes in bankruptcy law. He pushed for lax regulation of banks, insurance companies, and mortgage companies. He pushed the free market mentality which, unchecked, caused this whole mess. He neglected everything except the Department of Defense. I know it wasn't all his fault, but he shoulders a great deal of the blame. Obama seems to be trying to do what is best for the country.
I have faith that President Obama will reign in spending after this crisis is relieved. If not, we will have to lean on our representatives in Congress to reign in the spending.
In closing, I have one request of you: Please quit your incessant whining!
Friday, March 27, 2009
Tuesday, March 24, 2009
Time for a tea party?
Jack Cafferty wrote in his column today asking if it is time for another tea party.
Time for another tea party?
I understand his criticism of the state of our nation, and his anger at the run away spending. What I don't understand is how he completely ignores the cause of the problems that led to the increase in spending.
I think Mr. Cafferty is referring to the 'tea parties' advocated by the don't go movement. The don't go movement seems to be a conservative group with the sole purpose of building opposition to the increased spending that has resulted from their failed economic policies.
Conservatives espouse the ideals of a free market economy, while whining about government oversight. They also refuse to see how free markets and government oversight have both caused major economic catastrophe, when one or the other gets out of hand. The best way to run an economy is a balance between free market, and government oversight that keeps the playing field even, and promotes safe practices. A move too far in either direction is dangerous to the national economy.
These tea parties are gaining significant support amongst those people who are concerned about the national debt, and its long term effect on the economy and tax rates. People have reason to be concerned. I hear estimates that tax rates as high as 50 percent will be required to pay off this debt. This is debt we are passing to our children and grandchildren.
But, the tea parties only build opposition. They propose nothing constructive, and only serve to criticize the attempts by our government to solve the current economic problems.
Conservatives didn't complain when Bush wanted to stimulate the economy during the last recession. They also didn't complain when Bush lied to go to war with Iraq. The Iraq war has cost over 600 billion dollars so far. Despite this government waste, our economy still tanked. It tanked because under Bush, the government failed to do its job to regulate the mortgage industry.
Do you remember driving down the street in 2003 - 2007? You probably saw lots of signs saying "I buy houses" or "own 4 bedroom home for $575 a month, no credit check", most hand written on little signs stuck in the ground near busy roads. I wish I had the foresight to have called one of these companies to find out who was behind such blatherskite. The crazy thing is, at that time it wasn't blatherskite, it was true. You really could get such a loan.
I realize President Bush isn't entirely to blame for all this. President Clinton started the beginnings of this process by forcing fannie may and freddie mac to lend to people with lower credit scores. This was mainly done to make sure lower income people could be approved for loans to buy their own home. But, other than lowering the credit requirements, a buyer in 1999 would have the same down payment and interest requirements as anyone else.
The real abuse of the system started when President Bush reduced enforcement and oversight of the mortgage industry. That's when sub-prime mortgages took an ugly turn. A turn that eventually took the entire economy off a cliff.
Time for another tea party?
I understand his criticism of the state of our nation, and his anger at the run away spending. What I don't understand is how he completely ignores the cause of the problems that led to the increase in spending.
I think Mr. Cafferty is referring to the 'tea parties' advocated by the don't go movement. The don't go movement seems to be a conservative group with the sole purpose of building opposition to the increased spending that has resulted from their failed economic policies.
Conservatives espouse the ideals of a free market economy, while whining about government oversight. They also refuse to see how free markets and government oversight have both caused major economic catastrophe, when one or the other gets out of hand. The best way to run an economy is a balance between free market, and government oversight that keeps the playing field even, and promotes safe practices. A move too far in either direction is dangerous to the national economy.
These tea parties are gaining significant support amongst those people who are concerned about the national debt, and its long term effect on the economy and tax rates. People have reason to be concerned. I hear estimates that tax rates as high as 50 percent will be required to pay off this debt. This is debt we are passing to our children and grandchildren.
But, the tea parties only build opposition. They propose nothing constructive, and only serve to criticize the attempts by our government to solve the current economic problems.
Conservatives didn't complain when Bush wanted to stimulate the economy during the last recession. They also didn't complain when Bush lied to go to war with Iraq. The Iraq war has cost over 600 billion dollars so far. Despite this government waste, our economy still tanked. It tanked because under Bush, the government failed to do its job to regulate the mortgage industry.
Do you remember driving down the street in 2003 - 2007? You probably saw lots of signs saying "I buy houses" or "own 4 bedroom home for $575 a month, no credit check", most hand written on little signs stuck in the ground near busy roads. I wish I had the foresight to have called one of these companies to find out who was behind such blatherskite. The crazy thing is, at that time it wasn't blatherskite, it was true. You really could get such a loan.
I realize President Bush isn't entirely to blame for all this. President Clinton started the beginnings of this process by forcing fannie may and freddie mac to lend to people with lower credit scores. This was mainly done to make sure lower income people could be approved for loans to buy their own home. But, other than lowering the credit requirements, a buyer in 1999 would have the same down payment and interest requirements as anyone else.
The real abuse of the system started when President Bush reduced enforcement and oversight of the mortgage industry. That's when sub-prime mortgages took an ugly turn. A turn that eventually took the entire economy off a cliff.
Thursday, March 19, 2009
Book Review: How to win friends and influence people
How to Win Friends and Influence People
Author: Dale Carnegie (11/24/1888 - 11/1/1955)
My star rating: 4.9
This book completely changed my life. While reading I would often come to realize that, despite the best intentions, many people probably think I am quite an ass.
I have been prone to argue, and often have no finesse. I am often confrontational and verbally unkind.
Even though the original book was written in the 1930's, most of the points are still valid today. As our world becomes more connected, these principles will be more important in providing a personal touch, which can be a competitive edge.
The only reason I don't give this a 5 star rating is because many of the historical references in the book are outside recent memory. Meaning, no one alive will be able to remember the events referenced in this book. The author does a great job explaining the pertinent information relating to the events, and how those events relate to the point at hand. This is only a minor inconvenience, which is why I only docked a small amount.
Overall, this is to date the best book I have ever read.
Author: Dale Carnegie (11/24/1888 - 11/1/1955)
My star rating: 4.9
This book completely changed my life. While reading I would often come to realize that, despite the best intentions, many people probably think I am quite an ass.
I have been prone to argue, and often have no finesse. I am often confrontational and verbally unkind.
Even though the original book was written in the 1930's, most of the points are still valid today. As our world becomes more connected, these principles will be more important in providing a personal touch, which can be a competitive edge.
The only reason I don't give this a 5 star rating is because many of the historical references in the book are outside recent memory. Meaning, no one alive will be able to remember the events referenced in this book. The author does a great job explaining the pertinent information relating to the events, and how those events relate to the point at hand. This is only a minor inconvenience, which is why I only docked a small amount.
Overall, this is to date the best book I have ever read.
Tuesday, March 17, 2009
What I admire about Republicans
I call myself an 'Irate Liberal', but on fiscal issues I believe I am fairly moderate. It is only on social issues where my liberal streak comes out.
Despite the years of mud slinging, I have been able to identify a few things I admire about the Republicans. Most of these are on fiscal issues.
Low Taxes
I think Republicans are right to want to keep taxes low. I adhere to a belief that lower taxes on individuals with more expendable income (not living paycheck to paycheck) eventually benefits the entire country. I think this type of policy allows for job creation. Many people like to demonize this idea as 'trickle down capitalism'. I prefer to call it by another name: Self Determination.
Small, Effective Government
Republicans publicly state their desire to have a small, effective government. The idea here is to ensure that government doesn't meddle in the private sector, or impede individual liberties.
Minimal Welfare
I understand the need for a little 'helping hand' when a family has a hardship. However, I don't understand when parents have more children than they can properly care for (food, clothing, shelter, tutoring, education). In this context, I strongly support limitations on Welfare.
Strong National Defense
I support the idea that we need to be able to defend ourselves against our enemies. I understand the need to sometimes take a proactive approach to our defense (intelligence). As long as we are acting in our defense, I support support defense funding.
Self Sufficiency
I support the idea that every individual and family needs to be self sufficient. Meaning we all live within our means, and use the opportunities available to increase our means. I firmly believe that we all benefit when each individual takes responsibility and accountability for their own life.
Respect for Life
I support the idea that life is sacred. However, I don't limit myself to only human life.
Where I disagree with Republicans
Low Taxes: Very often, the low taxes are used as a political tool. Spending continues as usual, and the government issues 'treasury bonds' to raise the difference. Treasury bonds are a debt, which has to be repaid by future generations of Americans. This is exactly the opposite of what a responsible government should be doing. Governments should be squirreling away money to use when the economy contracts, as it is doing right now. If they were to save money, they wouldn't need to raise taxes or cut services during a downturn.
Small, Effective Government: Republicans only seem to give lip service to this idea. The fact is that Government has consistently grown under Republican presidents from Thomas Jefferson to George W. Bush. It is also disturbing that any president would believe themselves above the law. Nixon himself said 'if the president does it, that makes it legal'. George Bush decided to use a similar tactic when he disregarded federal law, and authorized the warrantless wiretapping program.
Minimal Welfare
I know from my own childhood experience that welfare is a useful tool to assist families in breaking the cycle of poverty. Republicans seem to have made it their duty to completely eliminate this tool. They point to the welfare families who sit on welfare for years, never trying to improve their situation. I know for a fact that these families are the exception, not the rule. I support reforms and limitations to welfare. I do not support abandoning these families altogether.
Strong National Defense
After 9/11, I supported the overthrow of the Taliban in Afghanistan. Afterall, they were harboring the criminals who planned and financed the attack. It seems reasonable to assume that, had we concentrated our efforts in Afghanistan, we would have completed the mission already. Since Bush decided to lie to the American People, we diverted resources from Afghanistan to Iraq. I think history will look back on the invasion of Iraq as a tragic mistake.
Respect for Life
Republicans seem to be willing to do anything for an unborn child, even if it is detrimental to the health of the woman, and the current or future stability of the family. It also seems that, once you are born, they don't want to help you at all. They don't want to help you get medical care, housing, or education. They say that abortion is murder, but they rail against birth control, contraceptives, and sex education. I know some parents don't want their kids being taught about sex. Which is exactly why you can choose to keep your child out of the class, in most states. There also seems to be little political will with Republicans to make men more accountable for their children. I think men will think twice about using a condom if they know their actions (unpaid child support) could result in a prison sentence. Oh wait..Republicans don't support the use of condoms either.
I will close this rant with the wise words of George Carlin. In this quote, he was referring to religion. Since Republican ideas have formed an incestuous relationship to religion, I think it appropriate:
"It's all bullshit, and it's bad for ya". - George Carlin
Despite the years of mud slinging, I have been able to identify a few things I admire about the Republicans. Most of these are on fiscal issues.
Low Taxes
I think Republicans are right to want to keep taxes low. I adhere to a belief that lower taxes on individuals with more expendable income (not living paycheck to paycheck) eventually benefits the entire country. I think this type of policy allows for job creation. Many people like to demonize this idea as 'trickle down capitalism'. I prefer to call it by another name: Self Determination.
Small, Effective Government
Republicans publicly state their desire to have a small, effective government. The idea here is to ensure that government doesn't meddle in the private sector, or impede individual liberties.
Minimal Welfare
I understand the need for a little 'helping hand' when a family has a hardship. However, I don't understand when parents have more children than they can properly care for (food, clothing, shelter, tutoring, education). In this context, I strongly support limitations on Welfare.
Strong National Defense
I support the idea that we need to be able to defend ourselves against our enemies. I understand the need to sometimes take a proactive approach to our defense (intelligence). As long as we are acting in our defense, I support support defense funding.
Self Sufficiency
I support the idea that every individual and family needs to be self sufficient. Meaning we all live within our means, and use the opportunities available to increase our means. I firmly believe that we all benefit when each individual takes responsibility and accountability for their own life.
Respect for Life
I support the idea that life is sacred. However, I don't limit myself to only human life.
Where I disagree with Republicans
Low Taxes: Very often, the low taxes are used as a political tool. Spending continues as usual, and the government issues 'treasury bonds' to raise the difference. Treasury bonds are a debt, which has to be repaid by future generations of Americans. This is exactly the opposite of what a responsible government should be doing. Governments should be squirreling away money to use when the economy contracts, as it is doing right now. If they were to save money, they wouldn't need to raise taxes or cut services during a downturn.
Small, Effective Government: Republicans only seem to give lip service to this idea. The fact is that Government has consistently grown under Republican presidents from Thomas Jefferson to George W. Bush. It is also disturbing that any president would believe themselves above the law. Nixon himself said 'if the president does it, that makes it legal'. George Bush decided to use a similar tactic when he disregarded federal law, and authorized the warrantless wiretapping program.
Minimal Welfare
I know from my own childhood experience that welfare is a useful tool to assist families in breaking the cycle of poverty. Republicans seem to have made it their duty to completely eliminate this tool. They point to the welfare families who sit on welfare for years, never trying to improve their situation. I know for a fact that these families are the exception, not the rule. I support reforms and limitations to welfare. I do not support abandoning these families altogether.
Strong National Defense
After 9/11, I supported the overthrow of the Taliban in Afghanistan. Afterall, they were harboring the criminals who planned and financed the attack. It seems reasonable to assume that, had we concentrated our efforts in Afghanistan, we would have completed the mission already. Since Bush decided to lie to the American People, we diverted resources from Afghanistan to Iraq. I think history will look back on the invasion of Iraq as a tragic mistake.
Respect for Life
Republicans seem to be willing to do anything for an unborn child, even if it is detrimental to the health of the woman, and the current or future stability of the family. It also seems that, once you are born, they don't want to help you at all. They don't want to help you get medical care, housing, or education. They say that abortion is murder, but they rail against birth control, contraceptives, and sex education. I know some parents don't want their kids being taught about sex. Which is exactly why you can choose to keep your child out of the class, in most states. There also seems to be little political will with Republicans to make men more accountable for their children. I think men will think twice about using a condom if they know their actions (unpaid child support) could result in a prison sentence. Oh wait..Republicans don't support the use of condoms either.
I will close this rant with the wise words of George Carlin. In this quote, he was referring to religion. Since Republican ideas have formed an incestuous relationship to religion, I think it appropriate:
"It's all bullshit, and it's bad for ya". - George Carlin
Thursday, March 12, 2009
Chairman Norris, leader of a Theocracy in Texas
Chuck Norris recently made a comment on Glenn Beck's radio show, which seems to lend validity to the insane idea that Texas could secede from the union. Apparently, Mr. NorAss doesn't understand the term 'Perpetual Union'.
I would suggest that Mr. Norris read a bit of history, to enlighten his backward little mind. You see, in 1777 the Second Continental Congress passed the 'Articles of Confederation', which specifically states that "the union shall be perpetual". The last state to ratify the articles was Maryland, which did so in 1781. Once Maryland ratified the articles, they were law, and binding on all current and future states.
Upon joining the union (and no one forced Texas to join), they agreed to be bound by these same articles.
This has already been tried, and the southerners got their collective asses kicked. Not only kicked, but completely humiliated.
Let me revive some old sayings, and place them in modern context so idiots like Mr. NorAss might understand:
"Treason started in Texas, and it will end in Texas."
(South Carolina was the first to secede from the union (treason), and they were severely punished when Sherman marched through the state and burned Columbia, including most of the inhabitants.)
"I intend to make Texas howl."
(After the battle of Atlanta, Sherman marched through Georgia burning anything he thought could be used to aid the confederate traitors. He decimated most of Georgia, including Atlanta).
Mr. Norris has the right to say whatever backward, insane, unpatriotic thing he wishes to say. He is lucky he lives in the United States, because he does have that right.
But let me be very clear. If Mr. Norris, or any of his uninformed baboon followers think they can break apart the Union, MY COUNTRY, I will stand up with every other patriotic AMERICAN and defend my country! Don't tread on me!
I would suggest that Mr. Norris read a bit of history, to enlighten his backward little mind. You see, in 1777 the Second Continental Congress passed the 'Articles of Confederation', which specifically states that "the union shall be perpetual". The last state to ratify the articles was Maryland, which did so in 1781. Once Maryland ratified the articles, they were law, and binding on all current and future states.
Upon joining the union (and no one forced Texas to join), they agreed to be bound by these same articles.
This has already been tried, and the southerners got their collective asses kicked. Not only kicked, but completely humiliated.
Let me revive some old sayings, and place them in modern context so idiots like Mr. NorAss might understand:
"Treason started in Texas, and it will end in Texas."
(South Carolina was the first to secede from the union (treason), and they were severely punished when Sherman marched through the state and burned Columbia, including most of the inhabitants.)
"I intend to make Texas howl."
(After the battle of Atlanta, Sherman marched through Georgia burning anything he thought could be used to aid the confederate traitors. He decimated most of Georgia, including Atlanta).
Mr. Norris has the right to say whatever backward, insane, unpatriotic thing he wishes to say. He is lucky he lives in the United States, because he does have that right.
But let me be very clear. If Mr. Norris, or any of his uninformed baboon followers think they can break apart the Union, MY COUNTRY, I will stand up with every other patriotic AMERICAN and defend my country! Don't tread on me!
Tuesday, March 10, 2009
Obama wants to overhaul education system from 'cradle to career'
Obama Education Reform
President Obama,
I like this plan so far, except for one thing. What about the parents?
It seems to be a mistake for teachers and schools to be solely responsible for the success of students. I would dare say that teachers and schools make up only about 40% of the equation that predicts student success. The rest are completely up to the parents.
Parents need to understand that environment, nutrition, proper sleep, home study time, parental tutoring, homework completion monitoring, good role models, and keeping the right friends make up the rest.
Rather than giving money to state governments who have varying degrees of success, why not split the money between students and parents? If a student gets a certain score on their standardized tests, their parents get a tax credit and the student receives a tax free deposit into a college fund.
I think this plan will give students and parents an incentive to take school seriously.
President Obama,
I like this plan so far, except for one thing. What about the parents?
It seems to be a mistake for teachers and schools to be solely responsible for the success of students. I would dare say that teachers and schools make up only about 40% of the equation that predicts student success. The rest are completely up to the parents.
Parents need to understand that environment, nutrition, proper sleep, home study time, parental tutoring, homework completion monitoring, good role models, and keeping the right friends make up the rest.
Rather than giving money to state governments who have varying degrees of success, why not split the money between students and parents? If a student gets a certain score on their standardized tests, their parents get a tax credit and the student receives a tax free deposit into a college fund.
I think this plan will give students and parents an incentive to take school seriously.
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