Thimk

The Pirate Dogs are in a frenzy tonight. Commodore Cody took over the Nargle for most of the evening. Capt. 'Roid is agitated over the Somalian pirates. Seems they let the US Navy surround that hijacked munitions freighter. So rather than give up, the Somalis are threatening to blow the thing up. Let all the armaments sink and forgo the $millions in ransom. 'Roid and the crew wanted a share of the money (they'd love to help their dad retire this year) or the ship itself so they could stage a coup up the Potomac. Oops, that'll get the Pirate Dogs on the Homeland Security watch list...................Good thing their mom made a fresh batch of bone turks and there are leftover waffles from breakfast to sustain them.

Two pertinent definitions:

liberal
Dictionary.com Unabridged (v 1.1) - Cite This Source - Share This
1.favorable to progress or reform, as in political or religious affairs.
2.(often initial capital letter ) noting or pertaining to a political party advocating measures of progressive political reform.
3.of, pertaining to, based on, or advocating liberalism.
4.favorable to or in accord with concepts of maximum individual freedom possible, esp. as guaranteed by law and secured by governmental protection of civil liberties.
5.favoring or permitting freedom of action, esp. with respect to matters of personal belief or expression: a liberal policy toward dissident artists and writers.
6.of or pertaining to representational forms of government rather than aristocracies and monarchies.
7.free from prejudice or bigotry; tolerant: a liberal attitude toward foreigners.
8.open-minded or tolerant, esp. free of or not bound by traditional or conventional ideas, values, etc.
9.characterized by generosity and willingness to give in large amounts: a liberal donor.
10.given freely or abundantly; generous: a liberal donation.
11.not strict or rigorous; free; not literal: a liberal interpretation of a rule.
12.of, pertaining to, or based on the liberal arts.
13.of, pertaining to, or befitting a freeman.
–noun
14.a person of liberal principles or views, esp. in politics or religion.
15.(often initial capital letter ) a member of a liberal party in politics, esp. of the Liberal party in Great Britain.
Synonyms 1. progressive. 7. broad-minded, unprejudiced. 9. beneficent, charitable, openhanded, munificent, unstinting, lavish. See generous.
Dictionary.com Unabridged (v 1.1)Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006.
conservative
Dictionary.com Unabridged (v 1.1) - Cite This Source - Share This
1.disposed to preserve existing conditions, institutions, etc., or to restore traditional ones, and to limit change.
2.cautiously moderate or purposefully low: a conservative estimate.
3.traditional in style or manner; avoiding novelty or showiness: conservative suit.
4.(often initial capital letter ) of or pertaining to the Conservative party.
5.(initial capital letter ) of, pertaining to, or characteristic of Conservative Jews or Conservative Judaism.
6.having the power or tendency to conserve; preservative.
7.Mathematics. (of a vector or vector function) having curl equal to zero; irrotational; lamellar.
–noun
8.a person who is conservative in principles, actions, habits, etc.
9.a supporter of conservative political policies.
10.(initial capital letter ) a member of a conservative political party, esp. the Conservative party in Great Britain.
11.a preservative.
Dictionary.com Unabridged (v 1.1)Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006.

So if we are to move forward which should it be??

Time for a Break

And if my beloved Boston Red Sox and the L A Dodgers survive early October and both make it to the Fall Classic, then the Soquitos Rojo will face Joe Torre, Manny Ramirez, Derek Lowe, and maybe even Nomar Garciaparra. Talk about "wheel in the sky keeps on turning".....



The Captain is having rear knee problems. She now has a new nickname, Ratso Roido, after my favorite Dustin Hoffman character, for which he really deserved the Oscar as best actor:

For those unfamiliar with this film, he's the one on the right, Ratso Rizzo. The guy on the left is Angelina Jolie's father.

A list of websites or magazines I read or visit regularly---unlike Saracuda, I don't have a problem letting you know where I get my information:

The Atlantic http://www.theatlantic.com/ (The Atlantic Monthly has been around over 100 years. I've subscribed to the print edition for years.)

The Economist http://www.economist.com/ (socially liberal, financially conservative with an English perspective-- I subscribe to the print edition as well as online)

The National Review http://www.nationalreview.com (William F. Buckley started this in the '60's. Conservative and well-written. It's ok to be right-wing as long as you think.)

The Nation http://www.thenation.com/ (Left as it gets but well written and thoughtful)

The New Republic http://www.tnr.com/ (Dates back to the counter-culture but also well thought out.)

And of course, the national newspaper of record, The New York Times http://www.nytimes.com/ (The op-eds are intelligent, thought-provoking, and very well written.)

Please be informed on the FACTS before you vote. This is the most important election since 1968 and, like the Congress on the bail-out/rescue, we really need to get this correct!!!! Normally I'd say "right" but I don't think that's the proper direction............

Remember, the Pirate Dogs depend on you because they can't vote and they love you.

Someone Please Tune In the Picture

I see more ads for Ditech mortgages (from GMAC) and GMAC Bank than I see for GM cars. So GM is now earning more from the financial sector than from manufacturing?

We owe ever more to China and India, and the petro-dollars we send to the Gulf of Arabia are now being used by Gulf countries' sovereign wealth funds to shore up our banks!!

The Economist magazine, hardly a left-wing publication, stated "The financial-services industry's share of total American corporate profits rose from 10% in the early 1980's to 40% at its peak last year. By one calculation, profits in the past decade amounted to $1.2 trillion more than you would have expected." And this was from the Sept. 20, 2008 edition, before the meltdown Monday, Sept. 29!!!!

Tie these items together and it's easy to see why the US is well down the road to being a second class power. Financial engineering has replaced real engineering. Anybody else think this picture needs adjusting??

On a more hopeful note, Captain 'Roid has been following with interest the saga of the freighter that the Somalian pirates captured. Seems there's about $40 million worth of old Soviet tanks and artillery aboard. It was headed for Kenya. The Somalis want a $20 million ransom for it. Our captain would love a share of that money to help her parents retire, but the gleam really comes to her eye when she thinks about her and the rest of the Pirate Dogs sailing that ship up the Potomac, taking over Washington, and helping all of us........................

Christian Nation

I received a very unwelcome email a couple of days ago about how Muslims can't be Americans. It was ignorant , racist, and repugnant. See cz's blog for some of the quotes and details. I feel the need to comment on this entire email/blogging/propaganda campaign that this election cycle has degenerated into. I really am disgusted by the ignorance and the absolutely unChristian behavior of the purveyors of this trash. Allow me to present a few facts:

First, Islam, also known as Mohammedanism, is one of the THREE great mono-theistic (for those of you who send garbage emails, that means belief in ONE GOD) religions. The other two are Judaism and Christianity. I hope all of you readers are familiar with those, at least. Abraham and Jesus are both revered as prophets in Islam. There isn't any Arabian desert moon-god.

Second, if Barack Hussein Obama is a Muslim, then why is there a big scandal about the relationship with the Christian minister Jeremiah Wright??? You can't have it both ways.

Perhaps it is time to decide if in fact we are a Christian nation. There's an awful lot of people professing to follow the teaching of Christ who seem more like followers of the Pharisees. Remember in the New Testament when Jesus said he was the new order, that the greatest commandment was to love God and also to love thy neighbor as thyself? Or when he instructed that he who was without sin should throw the first stone at the adulterous woman? He also replied with the parable of the good Samaritan when queried as to whom one's neighbor was. Wasn't His Crucifixion the ultimate turning of the other cheek? The attacks on homosexuals, the needless war in Iraq, the torture of people of Middle Eastern descent in places like CIA rendition centers, Abu Ghraib, or Guantanamo--- are these acts those of a nation purporting to follow the teaching of Jesus Christ?

Please don't misunderstand me. I have contempt for the people who flew those planes on 9/11. I believe our nation should do all in its power to bring the planners to justice. But to villify a race, to use "Islamic terrorism" as an excuse to put aside the excercise of our Christian principles, to use false attacks on a candidate because he is different, these are the tactics of the Sanhedrin. And I hope all the God-fearing " Christians" remember whom they had killed. Or do some of them even know????

Pirate Dog-onomics

So first the meltdown, then the deal, then the no-deal, then more negotiations ad nauseam while my retirement funds shrink and shrink and shrink.........

The Pirate Dogs just don't get it. For them, economics is simple and transparent. Their favorite treat, home made bone turks, are kept in a CLEAR GLASS jar. 'Bout as transparent as it gets, right? When they want a treat, they let us know either by barking, pointing, or doing something obnoxious to get our attention, then repairing to the kitchen and staring at the jar. Simple supply and demand. They demand bone turks, we supply them. No derivatives or CDOs here. Just basic macroeconomics at work.

Maybe we should send the three of them to Washington DC???

The Commodore

Ah the Pirate Dogs were in a frenzy this morning. Their beloved CPS Nargle had become unwelcoming. It was the arrival of the Commodore.

Readers are aware of the Pirate Dogs, Skippy Kee, and Androme-Clee . But there is another denizen of this domicile: Commodore Cody. And this morning he took command of the Nargle :

Now Cocklatine Cody is a geriatric male Siamese cat---over 10 years old. He takes no guff from any other resident of the house including the humans. His claws are sharper than sabers and he can flash them quicker than an épée maestro. The Pirate Dogs have nothing but respect for this fellow, hence the moniker Commodore. He truly is their Master and Commander, in the spirit of
Richard Bolitho, Horatio Hornblower, and Jack Aubrey. So his appearance on board caused them consternation and confusion. As I write this much later in the evening, the pirates are huddled in the living room and the Commodore is still ensconced upon the poop deck.

Bubble-licious

So the financial bubble is bursting. The housing bubble has supposedly already burst. But these are so intertwined that there is probably more pain coming. How did we get to this point?



As I understand it, the housing bubble was inflated, at least in part, by low interest rates and easy credit terms. Remember the days, not so long ago, when a buyer was required to have 20% of the purchase price for a down-payment on a house. The principle and interest on the mortgage loan could not exceed 25% of their gross monthly income and the buyer's total monthly payments had to be less than 33% of that income. Remember when real interest rates were positive numbers? Thanks to central banks, many interest rates today are less than the rate of inflation. That makes borrowed money cheaper than the money earned by trade or work. Add new "mortgage products" like interest-only mortgages and adjustable rate mortgages to a loosening of lending standards, i.e., the ability to repay the loan, and people can obtain more house than they can afford to pay for in actual terms. Good for low income and young buyers until the rates adjust and their payments increase faster than their wages which is the scenario over the last seven or eight years.



So now the chickens have come home to roost. These ill-conceived and improperly vetted loans have gone into default, there's a glut of over-priced McMansions on the market. Real estate prices are plummeting, probably searching for a sustainable level based on real economic data about wages, output, and productivity. And the geniuses of financial engineering have packaged all these toxic loans into "financial instruments" so devious that experts like bond and credit ratings agencies, as well as the bankers and financial traders, can't assign the risk to those to whom it belongs. So taxpayers will pay for all this with a government bail-out so the system doesn't totally stop functioning. It would be much worse if the credit markets tighten for small businesses and companies that need some credit to keep the doors open.



But let's also address the real causes of these bubbles. The lack of transparency in many "financial instruments" needs to be addressed. And the entity charged with this regulation is the federal government. The public does not need to own Fannie Mae, Freddie Mac, or AIG. These companies, as well as the others still operating in the financial sector, need to perform their function under their charters in the market according to the regulations governing what is acceptable in the markets---investing, not gambling. Proper vetting of applicants for loans. Transparency in investment solicitations.



Congress should not pass the bail out without asserting its responsibility for economic oversight and without guarantees that it will indemnify the taxpayers against a further melt-down.