Poetry Break: The Prez Is On The Road

The Prez is on the road
He's heading out to please
He's meeting the G20 heads
... but especially the Chinese

Russia's important too
We don't want Medvedev
(or Putin)
... to be blue

And Gordon Brown?
He's our staunchest friend around
(Looks like Terry Jones though
And The UK's nearly out of dough...)

Let's wish the Obamas all the best
this trip is important
A real hard test
Some in the press will be watching the Prez
And the rest Michelle's dress ...

Monday Morning Quarterbacking

It's the Big Game, folks, the one for all the money.  Even more than that, it's the game for survival. 

Ford's earned a 'by', this round, but GM and Chrysler are on the field.  Unfortunately for both it's not a modern field, rather a muddy throwback to the 'golden' age, and the players are caked in the stuff.  And beneath that muck the players are tired and scared.  

GM's quarterback has been kicked off the team by the new coach and Chrysler has been told to merge with another team or else lose its franchise.  The fans in the stands are dwindling. Those that are left are without hot dogs, beer, or even souvenir programs. 

The Cheerleaders have long since left the sidelines.

We are still in the 4th quarter though, and the fat lady has only just started to warm up with a warble or two, backstage.  There's time for a patented Elway two-minute miracle, a drive to victory against all odds. There's time, but barely.

Whatever the outcome of this contest, it may be time to think about starting some new franchises, maybe a whole new league ...

Friday Frights

It's been a busy week, and it's not over yet.

Colorado blizzards, Fargo floods, Alaskan volcanoes, North Korean missiles, and 'imminent' terrorist attacks. 

What the heck, is it Armageddon already?

Well, you'd think so from the overwrought reportage on the cable news channels, particularly FOX (of course) this Friday am.  If you tuned in to any of this stuff, or better yet, browsed it via 'Direct TV News Mix', you would be forgiven for shoving your head in the nearest hole in best ostrich mode.

With the stock market climbing upwards over a thousand points in the last week (even given today's backpedalling), and with President Obama and crew making (mostly) the right moves, I guess the US press is suffering from good news overload and just can't bear it.  Hence the glee with which they deliver the bad stuff.

Witness their apparent desperation to find the cloud cloaking the silver lining today.  I actually had to laugh when I heard a commentator bemoan the horrible rise in gas prices to over $2 per gallon.  Surely they know that prices are rising with the stock market, on expectations the economy will get better sooner  - and thus need more gas and oil.  Rising fuel price (to a point, 4 bucks plus was criminal) is a good news indicator.  The financial news wonks MUST know this and are just being curmudgeonly as a point of professional pride.

Or they are brainless idiots who only read what's put in front of them. 

Or both.

Forget TGIF, I can't wait for Saturday ...

The 9.5% Solution

As everybody must know by now, California is in a world of budgetary pain, hemorrhaging to the tune of $42 billion in deficit.   And, as those of us who live in California know, the majority of us voted to allow a temporary increase in sales tax to help compensate.

I say the majority voted for this increase, but it's better to say the majority voted for it out of fear of NOT voting for it.  Dire calamities were predicted, alarms raised, the Governator's jaw clinched - muscles working in best movie angst mit determination mode.

So, on April 1, 2009 (so appropriate), the sales tax will increase by 1%.  Here in greater LA that means about 9.5% for the city and most surrounding communities. Ouch.

And it makes perfect nonsense, doesn't it?  Just when the economy needs more people to get out there and buy, buy, buy, we go and increase the cost of that activity.  Just when we need to stimulate jobs so that the state can collect increased business and income taxes, we dampen the business prospects.  In the movie biz, that would be called a plot hole, a failure of continuity, and possibly a flop akin to 'Heaven's Gate'.

I suppose only time will tell.  The tax increase is 'temporary', after all.  

Ya, rechts.

Bouncy, Bouncy

What goes down must come up, right?

After falling off an economic cliff like Sherlock Holmes over Reichenbach Falls, the DOW, Nasdaq, and S&P have rebounded from apparent doom - just like that beloved fictional detective.

The question of the moment - at least for the cable news outlets, is whether this is a true recovery or some sort of dead cat bounce, a kind of rebounding fakery designed to peel off whatever shekels we haven't yet committed to our 401(k)s.  A sort of slow-motion Madoff scheme, kinda.

Stock pariahs like AIG and Fannie Mae have roughly doubled from their lowest points.  That only means just under a buck and a half and 85 cents per share, respectively, but, hey, a doubling is a doubling.  If you (I say you but I mean 'me') had been smart enough to buy, say, 1 million shares of each (must think big), you (and when I say you I mean 'I') would be looking like a genius right now.  Not that you (I) had a million bucks to invest, just sayin'.

But lest you start kicking yourself (myself) about missing the boat on a big rebound, take heart in the state of the economy.  It truly sucks.  Based on any measure of reality, this stock 'surge' won't accomplish it's mission and will soon retreat, tail dragging in defeat, back to DOW sub-7000 waters.

If, however, the rebound is a real recovery, and the stocks surge to new heights, you (I) have my (my) permission to kick your (my) own butt.

Bouncy, Bouncy!

Oh, Obama! (Media Moments)

Number 44 is always in the news these days...

Leno's Special Olympics -  You have to wonder about the President's (or his staff's) wisdom in going on the Tonight Show with Jay Leno.  True, Leno is a fan and was always going to play nice, but c'mon, a sitting President on a talk show?  What about equal time for the other networks?  Why give just one the ratings boost?  Payback?  What about inadvertent gaffs?  Was the public promotion of policy worth the risk?  It's enough to make you think the Prez's office is run by the Special Olympics.  Oops, my turn to apologize.  Sorry.  Good to know Obama bowls, though.

Stunning Bonuses - On the Leno show, Obama pronounced himself 'stunned' at the bonuses given out to AIG.  Too bad, then, it came out later that his own team created the loophole that allowed the bonuses in the first place.  But taking a long view, which the President espouses at every turn, makes it pretty clear the loophole was a reasonable compromise, so why act 'stunned'?  Maybe it's because the President didn't know what his team had done until the fecal matter hit the rotating metal cooling device?  Or maybe it's because he never expected those sleazy execs to use the loophole?  If so, maybe he should spend a little more time in staff meetings and a little less on TV...

Salaam, Iran - Can we ever do anything to please the leaders of Iran?  Our President graciously reaches out to the Iranian people with a video message of hope and engagement, and he gets bum reviews from the Ayatollah.  Something or other about actions speaking louder than words.  Well, as disturbing as this rebuff is, Iran's supreme leader might be forgiven his skepticism given he's experienced the past eight years with the Bush administration.  (If we were jaundiced about our leaders, how do you think he felt?).  It's far too early to know whether Obama's message is a genuine attempt at engagement, or political window dressing, as the Ayatollah fears.  It's our hope, though, that it's the genuine article, and better times are ahead.

Our President has been very busy these days.  And we, the people, are generally happy to see him out there gettin' 'er done.  There will be rough spots which will draw criticism (ahem), but by and large it's better to be open and talking (even on Leno) than closed and scheming (the Cheney plan).  Roll on 44!

Babble-On 15

A mid-week look at a few items floating through the ether ...

Bonus Babies - Oh the horror!  AIG, beneficiary of public largesse to the tune of 170 billion (or so), paid bonuses to some of its executives. About 165 million (or so). The company claimed the bonus payments were regrettable but legally required.  A contract is a contract, after all.  The ensuing furor in the halls of government, gleefully reported by a press scared by the recent trend towards a little more positivity in the public mood, has consumed the media outlets to the near exclusion of all else.  The latest news reports that some of the bonuses were being returned.  If true, this might catch on.  Perhaps we could get some of the Bush Administration to return a little of their pay...

Rocket Bat - On Sunday a humble little bat became the fastest winged mammal in history.  That is, it did if it was able to hang on to the Shuttle Discovery's external fuel tank long enough.  NASA's technical boffins noted the Free-tail Bat on the tank before the launch but thought it might just fly away.  They should let those boffins watch more nature programming, because they were wrong - it didn't.  Sadly, more bat-savvy specialists consulted after the fact believe the bat couldn't have survived the ride.  Personally, I'd like to think the little guy (or gal) had The Right Stuff, and not only survived, but flew higher, farther, and faster than any bat had flown before...

The Waters of Baghdad - Are not so good, according to a story posted on Yahoo News today.  Apparently, the drinking water pulled from the Tigris river has been polluted for a long time, and it hasn't improved since the US invasion and occupation.  Six years after the US entered Baghdad the water supply is no safer and the people who can afford it resort to bottled water to avoid the risk of disease.  I wonder if Haliburton has the bottled water concession?  Probably a no-bid contract.

Enjoy the rest of your week.  If you run into any difficulties you can take a tip from that little bat gamely hanging on to the Space Shuttle.  Whatever your problem is, get a grip and hang on for dear life...