See my twitter feed from the presidential debate. My $.03 comments are throughout.
Clear winner for me: Twitter's Election 2008 feed.
As fit citizens, neighbors and running mates, we are tyranny fighters, water-game professionals, WPIAL and PIAA bound, wiki instigators, sports fans, liberty lovers, world travelers, non-credentialed Olympic photographers, UU netizens, church goers, open source boosters, school advocates, South Siders, retired and not, swim coaches, water polo players, ex-publishers and polar bear swimmers, N@.
http://www.americasdebate.com/
http://conservativeschatroom.
http://theforum.cnn.com/
http://www.unitedliberty.org/
http://thecaucus.blogs.
http://www.4-lane.com/
http://www.4-lane.com/
http://www.chatmag.com/topics/
http://www.mightyrighty.com/
http://www.liberalforum.org/
http://www.
http://www.youdecide2008.com/
http://chatabouteverything.
http://www.obamabrigade.com/
http://www.volconvo.com/
http://www.theuptake.org/
http://debatehub.c-span.org/
http://www.commercialappeal.
http://community.tvguide.com/
http://open.neurostechnology.
http://www.youdecide2008.com/
Pittsburgh Mom Accused Of Attacking School Employees - News Story - WPXI Pittsburgh: "A mother of two Brashear High School students was arrested after a dispute with school employees at the family's Elmore Square home on Friday.If school officials come knocking at your door -- get out your video camera at the least.
According to school officials, the 14-year-old student was exhibiting odd behavior, which was a concern. School officials said they tried to contact the girl's family but were unable to reach anyone, so two employees escorted the teen and an older sibling home.
When they arrived at the family's house, the girls' father, Jim Malloy, said he called police because he was mad that the school sent the girls home.
Malloy said his wife, Lisa, began yelling at the women as they were leaving, telling them they had to wait for the police to arrive. At that point, Malloy said all of the women began pushing each other, and they fell to the ground.
When police arrived, Malloy said his wife was arrested. He said when he called the principal of the school to get more information, the principal claimed to not know anything about the students being taken home.
Police are investigating.
Slate predicts McCain's next 10 Hail Mary campaign stunts. - - Slate Magazine 1. Returns to Vietnam and jails himself.My suggestions:
2. Offers the post of 'vice vice president' to Warren Buffett.
3. Challenges Obama to suspend campaign so they both can go and personally drill for oil offshore.
4. Learns to use computer.
5. Does bombing run over Taliban-controlled tribal areas of Pakistan.
6. Offers to forgo salary, sell one house.
7. Sex-change operation.
8. Suspends campaign until Nov. 4, offers to start being president right now.
9. Sells Alaska to Russia for $700 billion.
10. Pledges to serve only one term. OK, half a term.
Do you have an idea for McCain's next campaign stunt? Send it to us at NextMcCainStunt@gmail.com, and we will publish the best ideas. E-mails may be quoted by name unless you indicate otherwise.
technology politics: Lessig's Declaration for Independence... member of the audience told Lessig that "I was with you for 80% of it..." and that Lessig's examples using only Republicans and Democrats a was a slap in the face to third party candidates like himself. The man, you guessed it, was Mark Rauterkus. I give Mark a lot of crap for his support of Sara Palin-esque mayoral candidates like that Libertarian guy, Tony what's his name, but he is really a nice guy, and I have to say after meeting both of his sons (ages 13 and 10) I have to give him credit for doing heck of a job raising too really smart kids. During my conversation with Mark about McCain and Obama his sons were joining the debate - and they had plenty to say. They were more knowledgeable on the issues than Vice Presidential candidate Sarah Palin - and I'm not exaggerating. Following our conversation Mark's youngest son came up to me and asked me which issues that Obama was supporting were most important to me. When I meet 10 year old who can come up to me and discus foreign policy, energy independence, and the Iraq War - that gives me hope. Great work, Mark.Nice words. Great post. Wonderful talk too. Must read re-cap as there are many themes in this discussion that need to sustain in our discussions.
Two more lives end by gun violence in city - Pittsburgh Tribune-Review: Kraus said he is 'sick' over the shootings and said it will take a commitment from churches, community groups, police and government officials to turn around Pittsburgh's 'major problem with gun violence.'Sick is as sick does.
City schools OK contracts for arts program merger City school board members last night voted 8-0 to let contracts for the merger of the middle-grade and high school arts programs, though the cost will be about $1 million more than initially projected.They increased the space needs by some amount. That's okay. But, we should increase space at the high performing schools by factors of 4 or 10 -- not fractions.
China - Beyond the Olympics The premier event of the year for Chinese professionals, business leaders and entrepreneurs in Silicon Valley. This year's conference will center the discussion on China's future after China's great showcase of its 5,000-year history as well as its technological and economic achievements at the Beijing Summer Olympics.If I could only get my photos and videos in order from our trip to China. I know -- I'm taking forever. Stay tuned.... still....
We are in this crisis because of an excess of artificially created credit at the hands of the Federal Reserve System. The solution being proposed? More artificial credit by the Federal Reserve. No liquidation of bad debt and malinvestment is to be allowed. By doing more of the same, we will only continue and intensify the distortions in our economy - all the capital misallocation, all the malinvestment - and prevent the market's attempt to re-establish rational pricing of houses and other assets.
Last night the president addressed the nation about the financial crisis. There is no point in going through his remarks line by line, since I'd only be repeating what I've been saying over and over - not just for the past several days, but for years and even decades.
Still, at least a few observations are necessary.
The president assures us that his administration "is working with Congress to address the root cause behind much of the instability in our markets." Care to take a guess at whether the Federal Reserve and its money creation spree were even mentioned?
We are told that "low interest rates" led to excessive borrowing, but we are not told how these low interest rates came about. They were a deliberate policy of the Federal Reserve. As always, artificially low interest rates distort the market. Entrepreneurs engage in malinvestments - investments that do not make sense in light of current resource availability, that occur in more temporally remote stages of the capital structure than the pattern of consumer demand can support, and that would not have been made at all if the interest rate had been permitted to tell the truth instead of being toyed with by the Fed.
Not a word about any of that, of course, because Americans might then discover how the great wise men in Washington caused this great debacle. Better to keep scapegoating the mortgage industry or "wildcat capitalism" (as if we actually have a pure free market!).
Speaking about Fannie Mae and Freddie Mac, the president said: "Because these companies were chartered by Congress, many believed they were guaranteed by the federal government. This allowed them to borrow enormous sums of money, fuel the market for questionable investments, and put our financial system at risk."
Doesn't that prove the foolishness of chartering Fannie and Freddie in the first place? Doesn't that suggest that maybe, just maybe, government may have contributed to this mess? And of course, by bailing out Fannie and Freddie, hasn't the federal government shown that the "many" who "believed they were guaranteed by the federal government" were in fact correct?
Then come the scare tactics. If we don't give dictatorial powers to the Treasury Secretary "the stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet." Left unsaid, naturally, is that with the bailout and all the money and credit that must be produced out of thin air to fund it, the value of your retirement account will drop anyway, because the value of the dollar will suffer a precipitous decline. As for home prices, they are obviously much too high, and supply and demand cannot equilibrate if government insists on propping them up.
It's the same destructive strategy that government tried during the Great Depression: prop up prices at all costs. The Depression went on for over a decade. On the other hand, when liquidation was allowed to occur in the equally devastating downturn of 1921, the economy recovered within less than a year.
The president also tells us that Senators McCain and Obama will join him at the White House today in order to figure out how to get the bipartisan bailout passed. The two senators would do their country much more good if they stayed on the campaign trail debating who the bigger celebrity is, or whatever it is that occupies their attention these days.
F.A. Hayek won the Nobel Prize for showing how central banks' manipulation of interest rates creates the boom-bust cycle with which we are sadly familiar. In 1932, in the depths of the Great Depression, he described the foolish policies being pursued in his day - and which are being proposed, just as destructively, in our own:
Instead of furthering the inevitable liquidation of the maladjustments brought about by the boom during the last three years, all conceivable means have been used to prevent that readjustment from taking place; and one of these means, which has been repeatedly tried though without success, from the earliest to the most recent stages of depression, has been this deliberate policy of credit expansion.
To combat the depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection - a procedure that can only lead to a much more severe crisis as soon as the credit expansion comes to an end... It is probably to this experiment, together with the attempts to prevent liquidation once the crisis had come, that we owe the exceptional severity and duration of the depression.
The only thing we learn from history, I am afraid, is that we do not learn from history.
The very people who have spent the past several years assuring us that the economy is fundamentally sound, and who themselves foolishly cheered the extension of all these novel kinds of mortgages, are the ones who now claim to be the experts who will restore prosperity! Just how spectacularly wrong, how utterly without a clue, does someone have to be before his expert status is called into question?
Oh, and did you notice that the bailout is now being called a "rescue plan"? I guess "bailout" wasn't sitting too well with the American people.
The very people who with somber faces tell us of their deep concern for the spread of democracy around the world are the ones most insistent on forcing a bill through Congress that the American people overwhelmingly oppose. The very fact that some of you seem to think you're supposed to have a voice in all this actually seems to annoy them.
I continue to urge you to contact your representatives and give them a piece of your mind. I myself am doing everything I can to promote the correct point of view on the crisis. Be sure also to educate yourselves on these subjects - the Campaign for Liberty blog is an excellent place to start. Read the posts, ask questions in the comment section, and learn.
H.G. Wells once said that civilization was in a race between education and catastrophe. Let us learn the truth and spread it as far and wide as our circumstances allow. For the truth is the greatest weapon we have.
In liberty,
Ron Paul
America Says NO to the Bush Bailout!: "Let's deliver an immediate and direct response to the president’s call for this enormous bailout: NO!
Volunteers will host actions in cities and towns across the country with a simple message: 'America says NO Bush Bailout!”
Find an event (or *create* a new one if there's not one already -- we must lead ourselves)"
Youth Training - USA v Germany: "Youth Training - USA v Germany"Great feature.
Downsize DC commits suicideWe've heard the Treasury Secretary and the Federal Reserve Chairman make their case for a $700 billion bailout of the financial markets. We're not persuaded. Quite the contrary. We reject their predictions of dire consequences if their plan doesn't pass. We're so convinced of this that we're willing to stake our continued existence on it.
If the economy goes into a deep slump because they didn't pass their bailout plan then charitable contributions will be among the first things cut from family budgets. If we're wrong then we'll be among the many institutions to fail. But we don't believe we're wrong. And we don't believe we'll fail.
In 2003 dire warnings about "weapons of mass destruction" were used to justify an unnecessary war in Iraq. We bucked the tide of public hysteria and dared to claim that there were NO "weapons of mass destruction" in Iraq.
We were right, and popular opinion, driven by political fear mongering, was wrong. Now we're being told that our economy is threatened by "financial weapons of mass destruction," and we'll once again buck the hysterical trend by predicting that . . .
There are no "financial weapons of mass destruction" threatening our economy -- except for the $700 billion bailout plan.
We don't believe that mortgage defaults on a mere 3 million homes have the power to halt the mighty American economic engine. It's really that simple.
Many wild claims are being made. Yesterday, on CNBC, Jim Cramer predicted a Great Depression II if the bailout plan isn't passed. Cramer is even willing to let the Democrats cap CEO pay and take ownership positions in troubled firms (socialism), if that's what it takes to pass the bailout plan. Cramer, despite his great intelligence and personal charm, is madly, hysterically, wrong.
In the Great Depression 40% of homes went into foreclosure.
Today the foreclosure rate is only 6%, and the trend is toward fewer foreclosures rather than more.
We're far closer to the end of this problem than we are to the beginning.
Of course, the fear mongers will claim that we had a 40% foreclosure rate in the Great Depression precisely because the government didn't intervene soon enough, and that current foreclosure rates will spiral out of control if the bailout bill isn't passed. This reading of history gets the true story of the Great Depression exactly backwards . . .
The myth is that President Hoover did nothing after the stock market burst in 1929. Nothing could be further from the truth. In fact, Hoover actually began the kinds of interventions that are commonly associated with FDR. Roosevelt was merely copying, and dramatically expanding on what Hoover had already done, not setting a new course. And look at what the results were . . . a Great Depression that lasted for 12 long years!
Hoover and Roosevelt both tried to stop market prices from falling, which is exactly what the current proposal aims to do. But the result in the late 20s and early 30s was that the market never cleared, and so the Depression went on and on and on.
We could have the same thing again today if we allow the government to once again intervene in natural market processes.
The fact is that the politicians, the bureaucrats, and various hysteria mongers, are misleading us. They tell us that the market is frozen, but the fact is that commercial loans are at an all-time high, and even real estate loans ARE HIGHER THAN THEY WERE LAST YEAR! The fact is that . . .
The current "crisis" is mainly centered among the highly leveraged investment banks on Wall Street, but even there the market is far from frozen. Merrill Lynch was able to sell its bad assets and was then bought by Bank of America (which had earlier bought CountryWide).
Does this look like a frozen market to you? It doesn't to us.
And would it really matter if the markets were "frozen?" Inactive markets simply mean that buyers and sellers of assets have a disagreement about what those assets are worth. We must not allow the politicians and the bureaucrats to substitute their judgement for the judgements of buyers and sellers who are, after all, SPENDING THEIR OWN MONEY, whereas the politicians and bureaucrats are asking to spend YOUR MONEY!
We've taken the time, and shown the courtesy, of hearing our "leaders" speak, and having done so, WE REJECT THEIR CLAIMS! THEIR MUST BE NO BAILOUT, OF ANY KIND!
Please be clear about what we're NOT saying. We're NOT saying that things are rosy, or even all that good. As we explained Monday, we're feeling the effects of a FED-generated bubble pop. We are very simply saying that a bailout is wrong-headed and unnecessary, and could even make things worse.
If you agree with us, please tell your elected representatives to OPPOSE ALL BAILOUTS! You can use our generic campaign for cutting federal spending to send your message. Use your personal comments to reject the bailout and to make any of the points we've made in this message, or additional arguments of your own. You can send your message using our Educate the Powerful System.
But don't stop there. Please take the following additional steps . . .
* Call your Representative and your two Senators after you've sent your message
* Pass this Dispatch to others -- SOUND THE ALARM AND SPREAD THE WORD
* Register for a Digg account, and then Digg this message on our blog.Finally, we've staked our existence on our principals and our best judgement. We expect to thrive, not die. But we are struggling in this economy too. Many DC Downsizers have had to cut their pledges because of the current downturn. Some have lost their jobs. We really need those of you who are still doing well to come to our aid. We especially need new monthly pledges to replace $400 a month we've lost so far this Summer. You can make a contribution here.
Thank you for being a part of the growing Downsize DC army!
Jim Babka & Perry Willis
President & Communications Director
DownsizeDC.org, Inc.
I was up on Capitol Hill yesterday among the swarm of big bank lobbyists.If you want the book -- you can do the google search to find the offer. Clever give-a-way.
And the first thing I thought of was something my dad -- Nathra Nader -- used to say:
"Capitalism will always survive in the United States as long as the government is willing to use socialism to bail it out."
Dad was old school.
Dad emigrated to the U.S. in 1912 when he was nineteen.
"When I sailed past the Statue of Liberty, I took it seriously," he would say.
Dad ran a restaurant in downtown Winsted, CT -- the Highland Arms.
People used to say -- "At Nader's place, for a nickel you got a cup of coffee and ten minutes of conversation."
Dad didn't hesitate to skewer the greed of big business.
He especially opposed the drive by the chain stores to destroy family owned small businesses.
Dad was a man of many sayings.
"Congress is the best big business investment in the country," he would say. "It's one big leveraged sell-out."
When we were young, Dad would tell us:
"Don't look down on anyone and don't be in awe of anyone."
Or this one:
"Almost everyone will claim they love their country. If that is true, why don't they spend more time improving it?"
Dad knew early on that both political parties were under the thumb of big business. (Where did you think I got it from?)
Anyway, being on Capitol Hill yesterday got me to thinking about an idea that would help us push our substantive agenda onto the front burner of American politics.
A few years ago, I sat down at my manual typewriter and typed in 100 or so of my Dad's most memorable sayings and proverbs.
I thought you would enjoy having a copy of them.
So, here's the deal.
Our goal during this current fundraising drive is to hit $150,000 by the end of the month. (Thanks to your generosity, we're already at $36,000.)
If you donate any amount that has the number 3 in it -- as in -- we want a 3-way race -- by midnight tonight, we'll e-mail to you a collection of my Dad's sayings and proverbs.
That simple.