| January 22nd, 2008 |
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For the record I never doubted you ![[info]](http://l-stat.livejournal.com/img/userinfo.gif) ikilled007.
The Fed just cut interest rates by 3/4 of a point. Essentially that means they have turned on the printing presses to maximum velocity. What that means for you and me is our savings are going to be transferred to the rich and well-connected. For the past few weeks Congress has been talking about stimulating us. I once vowed that if I got another tax rebate I wouldn't spend a dime. Now we may not have a choice. Spend as much as you can now before the value of your money crashes. Buy as much gold as you can afford. Is it as bad as all that? You better believe it.
That crashing sound out there is the armature of confidence needed to support an economy based on faith that borrowed money will be paid back. It's as simple as that.
...The millions of maxed-out credit card holders and the issuers of their plastic are stuck together paddling a leaky tub in a sea of troubles every bit as wide, deep, and polluted as the one the mortgage junkies and their enablers are sinking in. The developers of malls, office parks, and power centers are weeping into their filing cabinets as the harsh daylight of insolvency stops the orgy of "consumption" and the retail tenants pack up their unsellable goodies for the liquidators, and the rent checks stop arriving in the mail, and the notes on this mall and that mall enter the eerie realm of "non-performance."
The Plunge Protection Team will prop up the futures market, and the Fed will print as much money as they can, but they're only delaying the inevitable. And by delaying the inevitable, they are making financial reckoning day even worse. There's only one presidential candidate who understands the problem and made an accurate diagnosis. But we all know he's made of crazy. Better to blame it on businessmen or hector the average American about how it's all a figment of the MSM's imagination.
As a wise robot once said, "We're boned." Look on the bright side my fellow Californians - everyone over the age of forty is going to be completely broke, but everyone under forty might finally be able to afford a house when this is all over. If you keep your job that is.
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Fred drops out. I hope someone writes a book about his campaign some day because it was surely one of the weirdest ever. Most of the time Fred acted as though he had better things to do, like stay in bed. I can sympathize with him when he says he wants to be president but hates campaigning for president. Near the end he showed some fire. He seemed genuinely offended by media rumors that he was planning to drop out after Iowa to endorse McCain. He lost the state he said he had to win, and so Fred's bowed out. It's a pity. After Ron Paul he had some of the best policy positions of all the candidates.
Dennis Prager makes a thoroughly unconvincing case for Captain 9/11.
His one major weakness in appealing to all conservatives is that he is for abortion rights. Let me, then, briefly address all those who, like me, consider nearly all abortions immoral.
Ronald Reagan was pro-life, and it mattered little to the pro-life cause. Concerning abortion, what matters most in a president is the type of judges he appoints to the Supreme Court. As George Will wrote on behalf of Giuliani, "The way to change abortion law is to change courts by means of judicial nominations of the sort Giuliani promises to make." It is extremely unlikely that John McCain would appoint similarly conservative judges. After all, why would he appoint judges like Scalia and Alito who apparently differ with him on the constitutionality of McCain's own "campaign finance reform" laws?
Pro-life Republicans need to ask themselves: Will a Democrat or Giuliani as president render abortion less common in America? The best is the enemy of the better. And Giuliani is far better on abortion than any Democratic nominee.
Prager contradicts himself here. Giuliani believes that not only is abortion a constitutional right, the constitution allows for publicly funded abortions. Why is he any more likely to appoint judges who disagree with him on abortion than McCain is likely to appoint judges who disagree with him on campaign finance reform? I'm not about to put my trust in princes again. Men and women like them are worth a thousand politicos. Prayer accomplishes far more than the empty promises of any candidate.
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I'm always saddened when young people die this way. But this is the first time in my life when I've been both saddened and surprised. Maybe I'm more out of touch with pop culture than I thought but I never expected this from Ledger. He seemed like he had a lot going for him. I was looking forward to seeing his portrayal of the Joker later this year. May God have mercy on his soul and may he have some measure of rest from whatever demons were tormenting him.
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