A friend originally from Dublin is in the hospital.
I visited him at 5 p.m. local time = midnight in Dublin.
And Here We Go
3 hours ago
Oh! a private buffoon is a light-hearted loon, If you listen to popular rumour; From the morn to the night he's so joyous and bright, And he bubbles with wit and good humour! He's so quaint and so terse, both in prose and in verse; Yet though people forgive his transgression, There are one or two rules that all family fools Must observe, if they love their profession. [Yeomen of the Guard, Gilbert & Sullivan]
Anaheim mall defaults on $210 million debtAs I understand it, the conservative narrative regarding the foreclosure crisis is that it's all the government's fault for forcing lenders to give money to ne'er-do-wells who could never repay. Uppity poor white trash & people of color.
Banks Bundled Bad Debt, Bet Against It and Won"Heads I win, Tails you lose!"
By GRETCHEN MORGENSON and LOUISE STORY, NYT
Published: December 23, 2009
In late October 2007, as the financial markets were starting to come unglued, a Goldman Sachs trader, Jonathan M. Egol, received very good news. At 37, he was named a managing director at the firm.
Mr. Egol, a Princeton graduate, had risen to prominence inside the bank by creating mortgage-related securities, named Abacus, that were at first intended to protect Goldman from investment losses if the housing market collapsed. As the market soured, Goldman created even more of these securities, enabling it to pocket huge profits.
Goldman’s own clients who bought them, however, were less fortunate.
Pension funds and insurance companies lost billions of dollars on securities that they believed were solid investments, according to former Goldman employees with direct knowledge of the deals who asked not to be identified because they have confidentiality agreements with the firm.
[emphasis added]
Tea Partiers' Next Target: American Business?Tho' I'm not sure just why the Tea Partiers want to bring down the U.S. economy, I nevertheless support the idea of a nation-wide "day of prayer and fasting" (i.e., a general strike). We can let them plan it, then co-opt the message! (Heck! To the extent that the Tea Partiers anti-biz message could be modified to highlight the failures of Obama's economic team, I'd even be okay with letting the Tea Partiers own at least part of the message!)
... The Tea Party Patriots group is planning a "National Day of Strike" for Jan. 20, one year to the day after President Obama's inauguration. The goal of the strike, according to the website where it's being planned, is to "financially cripple" the companies across America the group says are "backing the leftist agenda" and "funding socialism."
"... let's organize a nation-wide general STRIKE. There is no other act available to a civic population to bring about the halt to objectionable State policies and practices."
Kristol: Obama’s Nobel Speech ‘Lays The Predicate For The Legitimate Use Of Force’ Against IranFrom ThinkProgress, yesterday:
Bolton: Strike On Iran Is No Problem As Long As It’s Accompanied By A ‘Campaign Of Public Diplomacy’From NYT Op-Ed today:
There’s Only One Way to Stop IranThe war-drums are beating.
By ALAN J. KUPERMAN
... Since peaceful carrots and sticks cannot work, and an invasion would be foolhardy, the United States faces a stark choice: military air strikes against Iran’s nuclear facilities or acquiescence to Iran’s acquisition of nuclear weapons.
...
As for knocking out its nuclear plants, admittedly, aerial bombing might not work.
...
But history suggests that military strikes could work.
...
Where's the bottom???So, where'd the current market cycle bottom-out?
Thursday, October 9, 2008
A very quick, back-of-the-envelope computation suggests that since the '70s, the largest percentage decline in DJIA has been just under 50% from previous peak.
Using this as a guideline, the bottom would seem to be around 6000.
We're at 8500 today.
The 50% bottom is the WORST since 1970.
The range seems to be 25% to 50%. (Again, these are very hasty, eye-balled figures!!!)
If you bet on 40%, that'd represent about 7000.
30%? About 8000.
This guidance has been provided FREE OF CHARGE... and is worth every penny!!!
Regulators shutter 2 big Calif. banks, 5 othersIn my last paying job I was an economic forecaster - and I was the pessimistic one in my group!
By MARCY GORDON, AP Business Writer
Fri Dec 18
WASHINGTON – Regulators on Friday shut down two big California banks, as well as banks in Alabama, Florida, Georgia, Michigan and Illinois, bringing to 140 the number of U.S. banks brought down this year by the weak economy and mounting loan defaults.
[emphasis added]
If you wanna change things, we need to organize, and organize around a specific act. So let's organize a nation-wide general STRIKE. There is no other act available to a civic population to bring about the halt to objectionable State policies and practices.PrivateBuffoon hereby goes on record in support of this proposal.
That is, for 24 hours, nothing moves, except vital emergency/life-saving equipment. The disaffected populace then uses the ensuing chaos to leverage our/its democratic demands.
GANDHI: The law is due to take effect from April sixth.
I want to call on the nation to make that a day of prayer and fasting.
...
JINNAH: You mean a general strike?
GANDHI: I mean a day of prayer and fasting.
But of course no work could be done - no buses, no trains, no factories, no administration. The country would stop.
Ebenezer Scrooge: Bah, humbug. You'll work thirty-eight hours on Christmas Day, keep the heat at five degrees, and like it.The other text for "the message" is from Psalm 100:
Ghost of Jacob Marley: Ebenezer Scrooge, three ghosts of Christmas will come and tell you you're mean.
Three Ghosts of Christmas: You're mean.
Ebenezer Scrooge: At last, I have seen the light. Let's dance in the streets.
Have some money.
[Ultra-Condensed "A Christmas Carol"]
Make a joyful noise to the LORD, all the earth!MS Word's Papyrus font is very effective.
Serve the LORD with gladness!
Come into his presence with singing!
Know that the LORD, he is God!
It is he who made us, and we are his;
we are his people, and the sheep of his pasture.
Dear President Obama... but wait! - there's more:
Dear President Obama,
I just got an email from you asking me to contact my Senators to vote for your piece of crap health care “reform” bill.
The link to reply was –like your administration – defective and so here I am replying through your website and putting it up on my blog for the world to read if they care to....
I am just one of a vast number of disillusioned and furious progressives you have managed to alienate in less than a year. These people like me voted for you, donated to your campaign and worked for your election because we wanted real change. You have bitterly disappointed us.
[... the letter goes on...]
Keith Olbermann eviscerates Obama, Reid & US Senate over health care reform fiasco... and finally:
Katrina Vanden Heuvel: Dem base is "angry, infuriated, heartbroken - this is not the 'change' we voted for."It's nice to not be alone.
Senator Tom UdallWhy do I keep flagellating myself?
110 Hart Senate Office Bldg
Washington, DC 20510
Senator Udall:
As stated previously, your seniors in the Senate are failing you – and the country. Sen. Lieberman (I-CT) has proven time and again that he cannot be trusted, yet the Democratic Senate leadership continues to “deal” with him. Why?
Q: What has been the effect of Senator Reid’s caving to Senator Lieberman?
A: Others in your caucus - e.g., Sen. Nelson - feel free to march to a different drummer with no fear of repercussions!
The public - the folks who voted in a solidly Democratic Congress – are FOR a radical overhaul of the healthcare system – at least to the extent that a bona fide, robust 'public option' constitutes a 'radical overhaul'.
Please – take the lead! – organize your fellow freshmen Democratic Senators (including the class of ’06… and maybe the class of ’04). Present a united front demanding Senator Lieberman’s expulsion from your caucus, and his removal from positions of leadership within the Senate.
Make it clear that failure to support genuine reform will not be tolerated.
You may lose the battle – but if you stick to your guns, the war could be yours!
Sincerely,
apologia: a defense especially of one's opinions, position, or actions.It's also convenient to use the word in the sense of "apology".
[Miriam-Webster online dictionary]
"... the Senate is widely considered to be the greatest deliberative body in the world."I don't think I want to look at the 2nd best!
[Senate promo; emphasis added]
Clint Eastwood as Gunnery Sergeant Thomas Highway in the 1986 film Heartbreak Ridge...and:
Gunnery Sgt. R. Lee Ermey, currently hosting the History Channel's Lock and LoadNeither of these helps me understand my friend!
"I think I would have more respect for the Dems if they could point to ONE country or state whose system they like. Aren't there >50 reasonably civilized countries that have largely government run plans (though vastly different in detail)? Can't we point to ONE that we like, or perhaps a few that we want to pick features from? My faith that, say, the Netherlands has improved and learned over the years is much greater than that, say, Chuck Shumer will invent something one Thursday night that is better than anything anyone else in the world has come up with in the past 50 years."I have to agree with him.
"First, we will pursue a military strategy that will break the Taliban's momentum and increase Afghanistan's capacity over the next 18 months.This timeline was widely interpreted as a "deadline" for U.S. involvement in Afghanistan.
...
But taken together, these additional American and international troops will allow us to accelerate handing over responsibility to Afghan forces, and allow us to begin the transfer of our forces out of Afghanistan in July of 2011.
[emphasis added]
"Quite frankly, I detest the phrase exit strategy," US Defense Secretary Robert Gates said, promising "a narrow focus" on routing al-Qaeda with "observable progress on clear objectives."SoS Clinton:
"What is essential -- for our national security -- is that we have two long-term partners in Afghanistan and Pakistan," he said.
[Gates: no deadline for US pullout from Afghanistan, 3 Dec 2009]
"I do not believe we have locked ourselves into leaving," said Clinton, who added the goal was "to signal very clearly to all audiences that the United States is not interested in occupying Afghanistan."If memory serves, the Obama campaign was lauded as a model of consistent public communications - no leaks, everyone on message all the time.
[ibid.]
Supreme Court takes up 'honest services,' or anti-corruption, lawRecall: I was an Enron junkie. Not knowing the law doesn't prevent me from getting excited about apparent corporate malfeasance.
Attack on Pearl HarborNote: "The attack was intended as a preventive action to keep the U.S. Pacific Fleet from influencing the war the Empire of Japan was planning in Southeast Asia..."
The attack on Pearl Harbor (or Hawaii Operation, Operation Z, as it was called by the Japanese Imperial General Headquarters) was an unannounced military strike conducted by the Japanese navy against the United States naval base at Pearl Harbor, Hawaii on the morning of December 7, 1941. It resulted in the United States entry into World War II. The attack was intended as a preventive action to keep the U.S. Pacific Fleet from influencing the war the Empire of Japan was planning in Southeast Asia against Britain and the Netherlands, as well as the U.S. in the Philippines.
[Wikipedia entry]
Senator John McCainFeel free to copy/paste into your own letter to Senator McCain.
241 Russell Senate Office Building
Washington, DC 20510
Senator McCain:
Recall, during the second Presidential debate in 2008 you declared,"I'll get Osama bin Laden, my friends. I'll get him. I know how to get him. I'll get him no matter what and I know how to do it."A recent AP headline reads, "White House still lacks solid intel on bin Laden".
Have you volunteered to help our intelligence community locate bin Laden?
If not, why not???
I note that some might construe your failure to share your certain knowledge with our intelligence community as tantamount to giving aid and comfort to the enemy.
Again, if you have not shared your knowledge and wisdom regarding capturing bin Laden with our intelligence community, why not?
Sincerely,
White House still lacks solid intel on bin LadenRecall:
By ROBERT BURNS, AP National Security Writer
6 Dec 2009
WASHINGTON – Osama bin Laden may be slipping back and forth from Pakistan to Afghanistan. Or the U.S. might not have a clue, more than eight years after the al-Qaida leader masterminded the terrorist attacks on America.
During the second Presidential Debate of 2008, Senator McCain declared:So - have our intel folks asked John McCain how to get bin Laden?"I'll get Osama bin Laden, my friends. I'll get him. I know how to get him.
I'll get him no matter what and I know how to do it."
[emphasis added]
Glenn Beck-Inspired Tea Party Candidates Step Up To Oust Veteran GOP LawmakersThere were more worthy challengers listed in the Think Progress post - all needing $$$ to succeed against RINO incumbents.
Glenn Beck, who has waged a conspiratorial, hateful campaign against liberals and his other political enemies all year, has been galvanizing his supporters to run for office. Today, conservative activist Eric Forcade announced that he is running in the Republican primary to unseat longtime Rep. C.W. Bill Young (R-FL). In explaing his reason for running, Forcade said he was inspired by the “values that have been popularized by Glenn Beck.”
...
Phil Troyer, an attorney and former staffer to Republican Sens. Dan Coats (R-IN) and Richard Lugar (R-IN), is challenged incumbent Rep. Mark Souder (R-IN). An avid tea party supporter, Troyer has attacked Souder as a “big spending liberal.” Rachel Grubb, who is involved with Beck’s 9/12 project, is also challenging Souder.
Matt Sakalosky, a businessman who is a member of Beck’s 9/12 project, is challenging Rep. Lee Terry (R-NE).
...
Liz Lauber, a former aide to tea party leader and corporate lobbyist Dick Armey, is challenging Rep. Todd Akin (R-MO).
...
[emphasis added]
You fell victim to one of the classic blunders - The most famous of which is "never get involved in a land war in Asia"...
[The Princess Bride (1987)]
Leatherbound Pocket-Size US Constitution... and, YES: I've got one!
Carry it with you, keep it on your desk or bedside table, and be proud. Bound in soft black calfskin, pages edged in gold, this little book includes the complete US Constitution and other documents vital to our history, our democracy, and recent Supreme Court decisions: the Bill of Rights (and every constitutional amendment to the present day), Declaration of Independence, Articles of Confederation, and more. 192 pages, just 2 ¾" x 3 ¾".
To: General Stanley A. McChrystalNote: the subject, "Helpful hints to hopeful heroes", is taken from General George S. Patton's unpublished memoirs.
ISAF
Kabul, Afghanistan
APO 09356
Subj: “Helpful Hints to Hopeful Heroes” : Training Afghan forces
Sir:
To succeed in training Afghan forces you may want to consider three suggestions:
Suggestion #1: Don't focus solely on military training.
Drill, weapons training, strategy & tactics: all are necessary, but none is sufficient.
Rather, include a rather large dose of Afghan history.
My guess is that one objective of training Afghan forces is to provide a nucleus for an Afghan national identity. If this be true, then Afghan forces need to have some sense that the country they're being trained to defend is worth defending.
Feed them large doses of Afghan history, focusing on brave stands made by Afghan fighters against enemies, foreign and domestic. Give them at least a hint that Afghanistan has a proud history, and a proud military history - a tradition which they are fighting to preserve and extend.
Suggestion #2: Adapt the military training to their strengths. I suspect history suggests that Afghan military strength, both in the past and today, is in the area of guerilla warfare - not standard set-piece battles with complex battlefield evolution of forces.
I note that the U.S. military is NOT the best organization to train another in the effective use of non-standard tactics... BUT: if the training does not take into account this reality, I'm not hopeful for success.
How can non-standard guerilla tactics be employed by the state to defeat guerilla enemies? Elements of U.S. counter-insurgency doctrine certainly have a bearing on this question... but I'd bet we could also learn a LOT from our Afghan allies!
Suggestion #3: Engage Afghan officers in the design of ALL training. If we view ourselves as the sole 'experts', there only to impart our precious knowledge to the heathen, we will fail.
I note that in 1975 my Army Basic Training included at least a few days of classroom instruction on “The History of the U.S. Army.” I learned who Baron von Steuben was. I assume the intent was to instill in us – raw recruits – a sense that we were continuing a long-standing tradition of service to our country, and to convince us that our voluntary service was at heart patriotic.
This same goal ought be accommodated within whatever training the U.S. military delivers to our Afghan allies.
Finally, emphasize that the Taliban are, in fact, foreign enemies. During their rule of Afghanistan they were notably an instrument of the Saudis, even to the extent of adopting the particularly Saudi institution of “Committee for the Propagation of Virtue and the Prevention of Vice”. The Taliban’s religious zeal and exclusivity are NOT based on any Afghan precedent, but have been imported by Saudi – Wahabbist – zealots.
I would be more than happy to provide an outline of the non-military curriculum outlined above.
Just ask!
My motivation? I would prefer to see my country succeed in Afghanistan.
Nothing more, nothing less.
Sincerely,
To: General Stanley A. McChrystalCan pragmatism trump ideology? Probably not... but if we continue to adhere to the ideologically-driven eradication of the opium trade, we have no hope.
ISAF
Kabul, Afghanistan
APO 09356
Subj: “Helpful Hints to Hopeful Heroes” : Afghanistan’s only cash crop
Sir:
A previous note included three more-or-less non-controversial suggestions regarding the training of Afghan forces.
This note will be somewhat more controversial.
Afghanistan has exactly ONE (1) cash crop: opium.
Promote it! Tax it!!!
The status quo – in which we criminalize opium production – only serves our enemies. Both the Taliban and non-governmental warlords profit from the opium trade, at our expense.
It is a no-win situation.
Encourage opium production, and co-opt the warlords who now control the trade into the central government. Make it a condition of their trade that they actively support the Karzai government.
Appoint them as provincial leaders.
Effectively legalize the opium trade.
Again: opium is Afghanistan’s ONLY cash crop.
This could change in the future, but today we are dealing with today’s here-and-now.
Yes – this policy change could well kill your military career… BUT: it just might rescue Afghanistan from a descent into lawlessness that dwarfs that of the early 1990s.
As it stands, the opium trade benefits only our enemies.
Can you argue that pragmatism in this case trumps ideology?
Sincerely,
The irony underlying this entire mess is the fact that Obama had a tiny window of opportunity during his first week or so in office where he could have ended this thing with the stroke of a pen. Remember, this was not his war. The only reason we invaded Afghanistan to begin with (on the surface, at least) was to kill or capture Osama bin Ladin, mastermind of the 9/11 attacks - that was it. When every opportunity to do so had been badly blundered due to the incompetence of George W. Bush and company, they changed the nature of the mission for no other reason than to save their hideous faces. It had nothing to do with bin Ladin, they assured us. It was all about "nation building". Nation building!There's more... lots more! - I grabbed above from the middle of the post!
And that is where we find ourselves at the miserable present. Before the sun sets this afternoon, another American kid (or more) will be sacrificed on the alter of stupidity for no other reason than to prop up a government which has been identified by the organization, Transparency International, as the second most corrupt in the world. Congratulations to Somalia for taking home the gold. Whoopee!
Victory ScienceThere's more - go visit!
Let us never forget just what's at stake in the war in Afghanistan: nothing less than the success of the war in Afghanistan. This war may be a mistake, a blood-soaked blunder, an unholy charnel house mindlessly consuming the bodies and souls of untold thousands, an open sore on the pockmarked face of history and an abomination before the sight of God and men, but it is first and foremost a war, and wars must be won. If the United States doesn't win this war, then will it not lose it? And if the United States loses this war, then won't the Unites States have lost it? And if the United States has lost this war, will that not then make the United States a kind of thing that loses wars? And then where would we be?
"There is more respect to be won in the opinion of this world by resolute and courageous liquidation of unsound positions than by the most stubborn pursuit of extravagant or unpromising objectives."Wish Obama had taken the hint!
Would even forty thousand additional troops suffice for anything resembling the ambitious nation-building program that General Stanley McChrystal, the top military commander in Afghanistan, has proposed? (Counterinsurgency theory suggests that it would take moe than ten times that many...)Recall PM's contribution to this discussion: even 400K troops might not be sufficient!
[emphasis added]
Cheney was asked if he thinks the Bush administration bears any responsibility for the disintegration of Afghanistan because of the attention and resources that were diverted to Iraq. “I basically don’t,” he replied without elaborating.I note that the article suggests the interviewer did NOT ATTEMPT to get the former Wyoming congressman to elaborate!
[emphasis added]
Interestingly, the flight will be boarding during the president’s speech, so whatever his new policy is, I may be the first either to enforce or violate it.I anticipate regular "updates from the front" from this fellow - if any contain gems of wisdom or military humor worth sharing, I'll post 'em here!