Because the Girls Would Sing

Why read/listen to the summaries when you can read the real deal? The December Fed Open Market Committee meeting minutes.

I think that Weird Al needs to remake "Rock Me Amadeus".

"Unemployment, unemployment. Unemployment. Oooh, rock me unemployment!"

Can I Get One of These on eBay?

Stratfor provides a brief analysis on the Israeli ground attack in Gaza (this is the free version).

Gas Wars

Not a summit. Anything but a summit!

The EU is getting a little testy (meaning they missed their morning croissant) over Russia's cutting off the natural gas pipeline.

How Many States

is it going to take?

John Bolton proposes a three-state solution in The Washington Post.

(I always have trouble deciding whether John Bolton's moustache or hair is more awesome. Today, I go with the moustache.)

Roubini

The Financial Times profiles my favorite economist. I will admit that that is the first time that I have ever seen the words playboy and economist within seven city blocks of each other.

Oh and 2009 = "Worst year". Happy New Year!

Calculus

David Aaronovitch asks a very important question. Is Israel doing exactly what Hamas wants it to do? What is the move after the move after the move?

Welcome to Israel

In the wake of the latest Israeli action in Gaza against Hamas, CFR has posted an interactive guide to the Israeli-Palestinian conflict.

It will be interesting to see how Obama approaches Israel and the Palestinians. 11th hour efforts like Bush and Clinton or something more meaningful?

Flossy

From The New Yorker's archives, Mark Twain explores the mindset of the middle class gangsta.

Feats of Strength

Stratfor discusses Pakistan's asymmetric warfare tactics and The WSJ reports on Pakistan's troop movement to the Indian border.

Happy Holidays!

Legacy

More on Bush's legacy in The Boston Globe.

And from The Weekly Standard. Lincoln. Bush. REALLY?

Snobbery

It's thinking like this that will destroy the GOP for a generation (if it hasn't happened already).

Palin. Thatcher. Really? Now that's Kool-Aid.

Deep Throat

Stratfor takes a look at Mark Felt (aka Deep Throat) and how understanding who a source is affects our understanding of the story. A must read for anyone interested in Watergate and puppetry.

43

There is no way that President George W. Bush can be considered anything other than one of the three worst presidents in U.S. history (along with James Buchanan - uh, The Civil War and Warren G. Harding - Teapot Dome).

What a complete putz.

Malfeasance

In the NY Times, Thomas Friedman comments on U.S. and Chinese corruption in the wake of the Madoff scandal.

Be Forewarned

The Chinese Navy is sending warships to battle the Somali pirates. I can't wait for the YouTube.

But it is AAA Rated!

Not enough talk about the culpability of the rating agencies (SROs) in this mess. The RGE Monitor discusses the FER's recommendations for SRO reform.

Gokouun o Inorimasu

It's funny that in Japanese wishing someone good luck consists of praying for them. So even though my links are mostly downers (and this one from the WSJ about Japan's experience with Keynesian stimuli is no exception), I'm still on a running high from this morning's 7 miles on a treadmill, which is strange considering I hate the treadmill, and this didn't depress me as much as it should have. I think the fact that I was cozy inside instead of freezing in the 19 degree weather outside had something to do with it.

Sometimes I really love the WSJ. In the face of capitalism's failure, they press on. Ganbarimashou!

Burrata

Mozzarella stuffed with cream-soaked mozzarella? Oh my!

Preying On Crisis

The New Yorker profiles Naomi Klein, The New Left, and the failure of Milton Friedman's Chicago School of Economics (i.e., laissez-faire capitalism).

Sign Me Up

Who doesn't love negative yields?

Dinner Time

Finally, a well-deserved bailout. Denying access to the King of Cheeses would spell certain global chaos. If Blue Stilton, Point Reyes Blue, Ballerina (local to WA - no link), or Winey Goat (second one down) are having trouble, then please bail them out as well.

Investing In Infrastructure

Where do I sign up for my piece of the $1T deficit (to be paid back by myself at a later date of course with interest)? I've got a slew of ideas.

1. Skeet shooting park in the huge dirt lot across the street
2. Widen Gilbert road to 12 lanes
3. Build a freeway underpass underneath downtown Gilbert
4. Olympic size swimming and diving pool (salt, not chlorine) across the street
5. Free heliport and helicopters .... hmmmm ... 1 mile north of my house
6. Lifetime national hunting and fishing licenses for myself and all of my family and friends
7. Lots of desalination plants for Southern California (I'm sick of them stealing water from the Colorado)
8. Freeway system that is vertical (like in Minority Report), as well as forcing The Big Three to build cars that can use the vertical freeway system
9. Personal nuclear reactors (think Mr. Fusion)
10. A moon base and transportation to it for all Americans that pass the travelling to a moon base test (I should be paid $1B to create the test)

I know I didn't ask for anything completely outrageous. I'm simply trying to be reasonable here.

Nationalization

The New York Times discusses the nationalization of The Big Three (not the biggest three).

Five years from now when the government owns most financial institutions and the largest manufacturing sector in the U.S., will we say, "Well done."? Ten years? Fifty years?

Brinksmanship

Stratfor takes a look at the escalating India-Pakistan crisis and how the current crisis could affect the two countries, as well as Afghanistan, Iran, Russia, and the U.S. Pretty grim stuff. Let's hope for a troop build-up along the border and a couple of artillery duels.

Repeatability

Stratfor looks at the similarities between the Mumbai attacks and the New York Landmarks Plot that was broken up.

Ok, so on my list of things to do to ensure survival:

- Hoard food. Check.
- Don't spend money (except on food and ammo). Check.
- Get a vicious attack dog that can survive by hunting and killing its own food (small animals or criminals). Still searching.
- Buy a diesel powered generator and build an underground storage tank. Still digging.

And new this week:

- Don't visit well known public places. Check.

The Big 3 Lose Again

Reposted in its entirety, as Craiglist took down the ad. Very disappointing Mr. Craigslist.

"OK, let me start off by saying this Xterra is only available for purchase by the manliest of men (or women). My friend, if it was possible for a vehicle to sprout chest hair and a five o'clock shadow, this Nissan would look like Tom Selleck. It is just that manly.

It was never intended to drive to the mall so you can pick up that adorable shirt at Abercrombie & Fitch that you had your eye on. It wasn't meant to transport you to yoga class or Linens & Things. No, that's what your Prius is for. If that's the kind of car you're looking for, then just do us all a favor and stop reading right now. I mean it. Just stop.

This car was engineered by 3rd degree ninja super-warriors in the highest mountains of Japan to serve the needs of the man that cheats death on a daily basis. They didn't even consider superfluous nancy boy amenities like navigation systems (real men don't get lost), heated leather seats (a real man doesn't let anything warm his butt), or On Star (real men don't even know what the hell On Star is).

No, this brute comes with the things us testosterone-fueled super action junkies need. It has a 265 HP engine to outrun the cops. It's got special blood/gore resistant upholstery. It even has a first-aid kit in the back. You know what the first aid kit has in it? A pint of whiskey, a stitch-your-own-wound kit and a hunk of leather to bite down on when you're operating on yourself. The Xterra also has an automatic transmission so if you're being chased by Libyan terrorists, you'll still be able to shoot your machine gun out the window and drive at the same time. It's saved my bacon more than once.

It has room for you and the four hotties you picked up on the way to the gym to blast your pecs and hammer your glutes. There's a tow hitch to pull your 50 caliber anti-Taliban, self cooling machine gun. I also just put in a new windshield to replace the one that got shot out by The Man.

My price on this bad boy is an incredibly low $12,900, but I'll entertain reasonable offers. And by reasonable, I mean don't walk up and tell me you'll give me $5,000 for it. That's liable to earn you a Burmese-roundhouse-sphincter-kick with a follow up three fingered eye-jab. Would it hurt? Hell yeah. Let's just say you won't be the prettiest guy at the Coldplay concert anymore.

There's only 69,000 miles on this four-wheeled hellcat from Planet Kickass. Trust me, it will outlive you and the offspring that will carry your name. It will live on as a monument to your machismo.

Now, go look in the mirror and tell me what you see. If it's a rugged, no holds barred, super brute he-man macho Chuck Norris stunt double, then contact me. I might be out hang-gliding or BASE jumping or just chilling with my ladies, but I'll get back to you. And when I do, we'll talk about a price over a nice glass of Schmidt while we listen to Johnny Cash.

To sweeten the deal a little, I'm throwing in this pair of MC Hammer pants for the man with rippling quads that can't fit into regular pants. Yeah, you heard me. FREE MC Hammer pants.

Rock on."

Ch. 11

The WSJ reports on the latest bailout request from the Big Three.

Let them file Chapter 11 and have the government guarantee DIP financing while they restructure and are protected from their creditors. The "people won't buy cars from a bankrupt auto maker" argument is bunk.

Mumbai = Sarajevo?

I hope that India shows restraint. The last thing the world needs is for two nuclear armed nations to go to war.

Ostrich Time

I'm about to stop reading the news and just start stockpiling food, ammo, and Dairy Queen coupons.

The Financial Times looks at the recession news. But listen to Big Ben (not Roethlisberger) and just don't worry. Everything is a-ok.

Mumbai

Stratfor looks at the strategic motivations and potential geopolitical consequences of last week's attacks.

Active

The Financial Times previews the nationalization of the banks.

Mi Amigo's 10K Turkey Trot

As we have been doing for time immemorial, the Fullers ran the Thanksgiving Day 10K Turkey Trot. I haven't run this particular race for about 20 years so it was nice to once again run with a grown man dressed as a turkey (for the record, I beat him).

This year we had several new Fuller participants (Nick, Lisa, Rachael, and Maverick). The weather was perfect and the course fast (although a little too much headwind the last two miles).

So on to the race. I haven't run a 10K since high school. I haven't run fast in over a year. Let's just say that expectations were low, meaning I was hoping to come in under 45 minutes.

When the race first started, I was pretty tight. However, due to my desire to get out of the crowd and into some open space, I ran the first mile in 6:15. And I felt like I wanted to vomit in my ...

Actually, I didn't feel like vomiting. I felt like slowing down because my lungs and legs were asking me what I thought I was doing. I told them to shut up and that I only had another five.2 miles to go. I then settled into a nice pace that fluctuated by 20 seconds or so around 6:50 depending on whether I was going up the hill or running into a headwind. The last mile I felt ok and finished in 42:34 (6:52 pace).

Three minutes slower than my best, but I'll take it. I'm always thinking I'm losing speed. I don't think it's happening yet. Next year 2:59 is going to happen.

Perspective

Bigger than all of these combined:

• Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
• Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
• Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)
• Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
• NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion

TOTAL: $3.92 trillion

Bloomberg says it is more like $8T. I will now vomit in my mouth. We are getting so hosed.

Cal-i-for-ni-a

The Economist takes a look at what is becoming of The Governator's environmental plans in the face of a recession that has hit California particularly hard.

The Right Flank

Stratfor reviews Obama's moves thus far and concludes that it looks like Obama is going to govern from the center and that politically he needs to strengthen the right side of his coalition.

Enough Ink?

Christopher Wood in The WSJ says (with a much larger megaphone) what I've been saying from the beginning. Inflation, deflation, print, print, print, print, print, spend, spend, spend, spend, spend, Zimbabwe.

See-Saw

So now that we understand that the government has no clue what to do, what do we think they are going to do next?

A week after telling us they were no longer going to be buyin up toxic assets, but instead would only be providing capital injections, the government has now decided to do both with Citi.

I think I'm going to start taking bets on what the government will do next.

Buy Citi: 4:1
Buy my house: 28:1
Buy my neighbor's house: 17:1
Buy GM: 6:1
Buy the state of California: 12:1

Any others?

My People

I gave a talk in sacrament meeting a month or so ago. I used a running metaphor and talked about how I inherited my desire and ability to run fast from my Mexican ancestors (my dad is an original marathoner). This unexpectedly drew a lot of laughs.

Being in Arizona again after almost a decade has caused me to remember how different it is living in a border state, especially with the immigration issue being such a hot button topic the past couple of years.

CFR takes a look at the increasing drug violence in Mexico.

Georgia Part II

Stratfor reports that up to 100,000 Russian passports to Ukrainians within the past two months in a country where dual citizenship is illegal.

Distractions are nice.

Citi

The potential sale of Citigroup was more than a mild shock.

Is nothing safe?

The Periphery

Iraq, Afghanistan, Israel, Iran, Russia, terrorism, global warming, PIRATES just aren't getting me fired up like they used to. Something about the threat of even higher unemployment has me focused (like a laser beam) on only the economy. I continue to read other topics, but mainly to distract me from the absolute horror of our economic situation.

Interregnum

Paul Krugman is worried about economic policy going on vacation during the transition of power.

The Wilderness

Editorials about the collapse of the Republican coalition are all beginning to sound alike, but they aren't getting old yet.

I say that as a Republican (for now) hoping.

Super Obama World

I didn't play this more than once. I promise.

Dow 6000

I told one of my brothers about two months ago to expect to see Dow 7500. I was too optimistic.

To cheer you up, I've brought you interactive joy (about a depressing topic, but it's INTERACTIVE!).

Unsolicited

I love unsolicited advice. I'm sure President-elect Obama does as well (from The Financial Times - how to fix the economy (what else)).

Mitt

Says to let the Big Three go into bankruptcy. No details on how the restructuring should be paid for, but hey, I'm sure he has an idea or two up there in that giant noggin of his.

Commodities

The RGE Monitor reviews the 50% drop in commodity prices over the past six months.

Obamarama

The Chief Moonbat is pissed. "Elections have consequences." Post-partisanship be damned.

I'm viewing this development in a positive light.

Argh!

I've been following the piracy story for a couple of years now for two reasons. One, I read an outstanding article in The Atlantic in 2003, titled "Anarchy at Sea" and two, once when I was reading CNN, I saw a story on Somali pirates and told Liz. She proceeded to imitate Captain Barbossa and the rest is history. I now regularly read about modern day pirates.

Chatham House recently came out with a new report on "Piracy in Somalia". Worth reading if you'd like a break from the doom and gloom present day life and want to read about how shipping $100M of oil ain't what it used to be.

A Knife's Edge

Stratfor comments on why the meeting of the G20 did NOT bring about a complete restructuring of the global financial system a la Bretton Woods.

A View From The Other Side

Andrew Sullivan at The Atlantic on why he views the LDS Church's stance on homosexuality and gay marriage as a war.

I told Liz when Prop 8 passed that this was only the end of the beginning. My trip back to San Francisco last week only confirmed that this issue is going to be THE issue (religiously, culturally, and legally) for quite some time.

Here is a very good pro-Prop 8 blog I found when I was reading a post on Mormanity on how we should respond to the attacks on our faith.

Train Wreck

I don't know why I even bother reading Nouriel Roubini any more. Here are his latest 20 reasons why our economy really, really sucks and will for a long time.

Happy Monday!

Kumbaya

I don't speak hieroglyphics. Could someone please tell me straight up what ya'll are gonna do?

Here's the formal press release from the weekend's G20 photo op.

Commentary on the meeting:

- From The Australian

- From The Christian Science Monitor

The Auto Bailout

Cato unsurprisingly says "No!" and "Hell no!"

The UAW, Detroit, the Big Three, and of course Obama say "Yes" and whimper, whimper "please".

This article in The WSJ on how GM is trying to set the terms of the bailout really blew me away. Yes, it's a good negotiating strategy to ask for the moon, simply hoping for a pebble or two, but I was hoping for a bit more humility.

There aren't any good answers. Encourage moral hazard by bailing out an industry that will only need another bailout if the economy doesn't turn around quickly or watch millions of real people lose their jobs. I have the feeling that the public will only accept a bailout where the terms are so in favor of the government (similar to the first AIG bailout) that it'd be tempting for the car makers to just declare Chapter 11 (followed quickly by Chapter 7). Or Obama could just do whatever he wants to do and everyone will love it.

Nielson's

I can't believe I haven't reviewed this place yet. I went there again last night and while I was sitting there enjoying my black raspberry concrete with cold fudge, it dawned on me that I had a hole in my local Yelp ratings.

I'd like to give this place five stars, just to drive my favorite Floridian more bananas than he already is, but alas, I cannot. It's very good and worth the 20 minute drive, but the service can be uneven and sometimes the custard is a little too melted. That being said, did I mention that I'll drive 20 minutes to go here and that I pass two Dairy Queens, one Baskin Robbins, and more of those tart yogurt places than I can count? So yes, it is creamy and delicious and very far from Florida.

Pro 44 Fly

Maybe we're just all (52% of the all) hoping after all. Peggy Noonan in The WSJ on how America is "Throwing Long" with Obama.

Bretton Wo...

A preview and roadmap of this weekend's meeting of the G20 from the RGE Monitor. It's being billed as the next Bretton Woods (either II or III depending on how going off the gold standard in the early 70s is viewed). I don't care what they call it. I do care about a coordinated response from the 20 countries that account for ~90% of global GNP. Defusing the $600T derivatives time bomb would be nice too.

Good Is Bad

Am I not allowed to think anything is good at this point? Inflation, deflation, no investment, inflation again?

Thank you CFR for ruining my cup of creamy, delicious hot cocoa.

Paulson

Paulson's remarks this morning.

I watched it live this morning before walking over to the office. Looks like we are changing course. Forget buying toxic assets. Boosting balance sheets and preventing foreclosures are the new priorities.

Wingnuts and Moonbats

Upon stumbling into my hotel room each evening, I always turn the television on. If nothing interesting is on and CNN is boring, I will flip back and forth between MSNBC (Olberman, Maddow) and Fox News (O'Reilly, H&C) purely for entertainment purposes. These talking heads are crack for their 100% partisan audiences. I don't trust anything they say, but they can sometimes get a chuckle or two out of me and that can be worth it in and of itself (particularly when Colmes looks like he is about to implode - a nightly event).

Last night was such a night. MSNBC, commercial break, Fox News, commercial break, back and forth. But, last night topped all previous nights in ridiculousness. Hannity called our current recession "The Obama Recession". He fumbled around trying to explain how the market is reacting to things that Obama might do, yada yada, but still. Really?

The sad thing is that somewhere out there, there are a lot of people who believe him.

Black Hole

I hope that the auto industry bailout comes with many, very tightly monitored strings attached. GM is the worst offender, but Chrysler and Ford are not far behind. Too many brands, too many unattractive cars, too fuel inefficient, too much cost.

Post-Partisan

More on a pragmatic Obama in The New Yorker.

Iran

The U.S.'s changed stance on Iran since the Russia-Georgia War from Stratfor.

The idea of Bush paving the way and taking the hit from the right by opening relations with Iran before he leaves office slightly increases my respect for the man.

Too Big

Another gem. This time in the RGE Monitor.

“Every person in the (rich) United States has over the past 10 years or so borrowed about $4,000 from someone in the (poor) People’s Republic of China.”

In the end, the U.S. will be considered too big to fail. Holders of U.S. debt will suck it up and accept a much depreciated dollar fresh off the printing press and will thank us for repaying them.

And then turn around and buy rupees.

Change

Reform

Please read this article on reforming big government from The Claremont Institute. I rarely ask you to read something. It's more of a shotgun approach over here at VTOLing, but this is as good a summary of the conservative/progressive fiscal struggle as I have seen. You will be stunned by Chart A, Table A, and Table B. For some background on The Claremont Institute, click here.

This is where I hope Obama is headed. Pragmatic government. Lowering taxes, cutting waste, reforming entitlements, and truly fighting poverty for those who have nowhere else to turn.

Still Selling It

Rahm Emanuel is still selling pragmatism. It's what they ran on. They had better.

Favorite Links

The top 10 sites I visited 7 - 10 years ago:

Front Page Magazine
Xbox Forums
National Review
Red State
Obsidian Wings
Daily Kos
Andrew Sullivan
Atrios
The Guardian
AZ Central

One of these kids is not like the other.

Delayed

I can't stand being gone Monday through Friday. Thankfully it is rare, but this week was one of those five day travelling weeks. So I get to the airport early thinking I can catch the earlier flight. Full. A big thank you to all of the airlines for all of the flight cuts. Ok. I'll just take my normal flight. Uh-oh, what's that? It's delayed?? I'm going to be at the airport for three hours with the heartburn I have from lunch AND having to look forward to sitting in coach?? DON'T YOU KNOW I'M MVP GOLD!!!!!!!!!!!!!

Well, at least I have at least two years to look forward to. The Republicans have a dangerous game to play with the new President-elect. Filibuster and look like obstructionists in a time of extreme crisis or roll over? To be in those back rooms...

Sobering

Now back to our regular fare of doom and gloom. Economists react to the latest jobs report in The WSJ.

Unimaginable

Stratfor discusses the security threat to President-elect Obama.

Africa

It continues to be beyond outrageous that Sarah Palin could have been our vice-president. From Fox News:

"The Enforcer"

Rolling Stone took a look at Obama's new chief of staff in 2005.

"He's got this big old pair of brass balls, and you can just hear 'em clanking when he walks down the halls of Congress".

The Polls

Were extremely accurage this time around as reported in The WSJ today. Poll aggregators such as Pollster, RealClearPolitics, and FiveThirtyEight were even moreso.

I'm happy that I wasn't completely wasting my time pouring over state and county data.

"Obama's Challenge"

From Stratfor.

Looks like this is going to take more than 100 days.

Powell

Post-Mortem

The WSJ nicely summarizes and evaluates the last six weeks of each campaign.

Keynesian

Now that the election is over, you're going to hear the phrases Keynesian economics and fiscal stimulus repeated over and over. My favorite economist, Nouriel Roubini, has proposed a $400B stimulus package (that's borrowing $400B from our future incomes to put people to work today building roads, bridges, buildings to house giant bureacracies, etc). It's the classic deficit spending today to drive the recession away play. And usually it works. Something tells me this isn't a usual time.

Edmund Phelps (a Nobel winning economist from Columbia) isn't so sure in this piece in The Financial Times. Apparently Keynes himself wasn't so sure.

I'm not smart enough by any means to know what the answer is. However, looking at basic economic indicators and our projected fiscal situation over the next several years, I'm not sure that a $1T deficit is that great of an idea. It might be time for a new economic theory.

Progressive Pragmatism

Obama's speech was unifying, non-triumphalist, and a call to work. I mulled over the title of this entry for a few minutes. Progressive Pragmatism or Pragmatic Progressivism. The emphasis is important to me. Will Obama's emphasis be on doing what is best for the country, regardless of which label (progressive or conservative) is attached to a particular solution? Or will he emphasize progressive solutions that he thinks he will be able to actually implement?

Obama is a progressive. America has chosen a progressive path. I agree with much of the progressive agenda. I am also hopeful that labels begin to not mean as much as they have in the past and that we are entering an era in which pragmatism rules the day.

What Now?

Two great pieces on what's next for America and for Conservatives.

David Brooks in the NYT

and

Ross Douthat in The Atlantic

How are we going to (using McCain's phrase) teach government to live on a budget when the demands on the welfare state are greater than they've ever been? How is the Republican Party going to remain relevant (if Palin and her anti-intellectualism and far right social conservatism are the future of the party, it's doomed)?

Here's hoping for intelligence and pragmatism for both America and the Republicans.

Auto Sales

Seeing as we have a resident auto industry expert, I'd like to hear from him first hand what is going on. Anecdotal, yes. Interesting and enlightening, also yes.

I thought about buying a car last month (with kid #3 on the way (and yes, that is my formal announcement), it seemed like we probably should get a car that could fit three car seats) and the dealers seemed a little too desperate. Why not wait a month and see how much more desperate they will get?

So my good friend, what say ye to this from the WSJ?

"Lunch is Free"

The quote John used on my equality post prodded me to poke around FARMS a bit. I found this gem from Hugh Nibley a couple of weeks ago and have been slowly digesting it. I think it nicely sums up the thoughts and feelings I've been having over the past couple of years regarding not only my own perception of work, money, poverty, and equality, but where my own priorities should be.

Money quotes:

"Therefore, if any man shall take of the abundance which I have made and impart not his portion, according to the law of my gospel, unto the poor and the needy, he shall, with the wicked, lift up his eyes in hell, being in torment."

and

"To serve the classes that are living on them, the poor, the laboring men and women are toiling, working their lives out to earn that which will keep a little life in them [lunch is what they get out of it, and no more]. Is this equality? No! What is going to be done? The Latter–day Saints will never accomplish their mission until this inequality shall cease on the earth."

If You

Do not vote tomorrow, then any political argument we have over the next four years, you automatically lose.

Anonymous (non-voter): "I think that we should take a closer look at the progressive tax system and entitlements such as Medicare and Social Security. I'm worried about the next generation and their ability to pay off the mounting debt."

Me (voter): "Well, you didn't vote, so STFU! The moon is made of cheese $#^$#&^%$%&^^*&^$%#$%@#!"

Niccolo

Regardless of what you think about his policies, rhetoric, leadership style, etc, the man is a master politician. And that matters.

I read this piece on his political ascent in The New Yorker a few months ago.

October

A summary of just how bad October was from The RGE Monitor.

The Piper

When are we going to pay him? Taxes will eventually need to be raised. The political will required to cut spending, especially non-discretionary spending (entitlements such as Social Security and Medicare) does not exist. The BE Press summarizes the two candidates' tax plans and asks when somebody is going to seriously address both sides of the fiscal question.

Maybe somebody has a magic recipe for double digit growth (any way for the American worker to live in dormitories?)

National Security

Frederick W. Kagan suggests that it should be the top priority in voters' minds in The WSJ.

That's a difficult thing to do when you're worried about putting food on the table. I don't see Mexico invading us any time soon.

The W - Westwood

I don't normally review hotels, but I had to make an exception for this one.

I've stayed at many a hotel. I've stayed at other Ws. I've never experienced anything quite like the W in Westwood. All Ws have the wannabe rave/nightclub thing going on, but this was extreme. I sat by the pool eating my cheeseburger and sweet potato fries (to the horror of the wannabe actresses/models/porn stars nearby) and just watched the slow roll of hipsters, yupsters, gansters, and "My new work just needs to be seen because I'm 53, but I look like I'm 27 (unless you look too closely - which I didn't) and please somebody rich take me home tonight" types walk by with their enormous and overpriced alcoholic beverages while I waited for my penthouse suite to be prepared.

And by penthouse suite, I mean the elevator button I pressed was "PH". Apparently platinum status means something at the W (unlike the Westin, which disturbs me a little).

The people watching was definitely entertaining, but what bumped the W up to four stars was the suite I stayed in. Kitchen, dining room, two bedrooms (the master is larger than my master) and at last count four giant plasmas. AND the decor. My interior design sister would have been in contemporary heaven. It was that sweet. I only wish my wife had been there to enjoy the mirror above the bed. Hi honey!

Farcical

Going through airport security two to three times a week has caused me to lessen my appreciation for the TSA. From The Atlantic: I'm going to start carrying my PLO, Islamic Jihad, Hezbollah flags through airport security. I could probably borrow them from Obama.

“The whole system is designed to catch stupid terrorists,” Schnei­er told me. A smart terrorist, he says, won’t try to bring a knife aboard a plane, as I had been doing; he’ll make his own, in the airplane bathroom. Schnei­er told me the recipe: “Get some steel epoxy glue at a hardware store. It comes in two tubes, one with steel dust and then a hardener. You make the mold by folding a piece of cardboard in two, and then you mix the two tubes together. You can use a metal spoon for the handle. It hardens in 15 minutes.”

Negative 0.3%

Third quarter GDP results from RGE. Consumers aren't spending, but governments are!

Another One

The Economist endorses Obama. Palin continues to be a dealbreaker for many on the center/right.

Fed Funds Rate

I'm going to be travelling most of the day, but I fully expect a 50 point rate cut. The only reason they wouldn't go with a 100 point rate cut is because then what? You're at a Fed Funds rate of .5%. When things get worse, what would you do? Oh, yea, I keep forgetting about that pernicious/blessed printing press. Print, baby, print.

From the WSJ in anticipation of today's 50 point rate cut.

Boom Noodle

My review of Boom Noodle here in Seattle. I went there last night with a good friend that I haven't seen in about six years.

Nicely done BN. The okonomiyaki was very good (although not quite what I'm used to) and the Tokyo ramen was definitely above average (a little too salty and not enough fat). The only disappointment was the omakase (chef's choice) pickle plate. A little stale. I wasn't aware that pickles could even be stale, but they were.

Would I go back? Yes. Would I take my Japanese friends here? No.

For all of my Yelp reviews, go here or click on the link on my sidebar.

Jumping Ship

First The National Review and now The American Conservative. The conservatives' long knives are out. Francis Fukuyama endorses Obama.

Not Very Good

The National Review's Rich Lowry rates McCain's campaign.

Stag-Deflation

I'll admit. I've never heard that word used before. Inflation, yes. Recession, yes. Stagflation, yes. Stag-deflation, no. From our favorite, very pessimistic, but usually right Nouriel Roubini: "The Coming Global Stag-Deflation".

I'm still not sure we're headed for deflation though. How can we be with the $10T debt and everyone promising to lower taxes? Oh, yea, the printing press.

Deflation rocks. As long as you have a job.

Zimbabwe

Make sure you have some time for this one. A fascinating look at Robert Mugabe from The New Yorker.

I recently watched The Last King of Scotland and was struck by the similarities between the current actions of Mugabe and Amin (minus Mugabe's very formal education) in the 70s.

The Return

Of state power and the weakness of multi-national organizations from Stratfor.

In the end, only the hand holding the gun to our heads matters.

Chicken or ...

David Sedaris writes a funny piece in The New Yorker on the undecided voter.