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Archive for April, 2008

The T-Bill is BACK!

News Link

The Bush administration, moving to cope with soaring budget deficits, says it is bringing back the one-year Treasury bill that it stopped issuing seven years ago when the budget was in surplus.

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The administration said Wednesday it would begin selling the one-year bill, also referred to as a 52-week bill, at an initial auction in June. New one-year securities will be auctioned every four weeks.

The government is looking for various ways to borrow the billions of dollars in extra cash it will need to cover a budget deficit that is expected to jump to an all-time high this year, surpassing the old mark of $413 billion set in 2004.

A big part of the increased borrowing reflects the need to pay for economic-stimulus rebates to 130 million households. The government began disbursing the payments on Monday in an effort to give the economy a jump start.

The government stopped issuing the one-year securities in February 2001, a year when the government recorded a surplus of $127 billion. That was the fourth consecutive surplus but was also the last time the government’s books were in the black. The budget was pushed back into the red by a recession, increased spending to fight wars in Afghanistan and Iraq and, Democrats contend, by President Bush’s first-term tax cuts.

The return of the one-year security was announced as officials reported the government’s borrowing needs for the current quarter, which will include separate auctions next week to raise $15 billion with the sale of 10-year Treasury notes and $6 billion in the sale of 30-year Treasury bonds.

“Over the last several months, changes in economic conditions, financial markets and monetary and fiscal policy have impacted Treasury’s marketable borrowing needs,” said Anthony Ryan, Treasury’s assistant secretary for financial markets. “Financial market strains have impacted the real economy and the nation has experienced lower economic growth, lower receipts and increased outlays.”

This isn’t exactly a good sign.
Generally it shows a weak economy that seeks to gain more funding quickly when you start offering the T-Bill. This may be a bad time to introduce it. It should never have been done away with in the first place.

It could also place some confidence back in the market as well.
One only hopes.

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The pain that wont go away…

The guy is sort of like that itch you have that you will scratch but it will come up somewhere else. Eventually just multiplying to several areas. That is what I am sure Obama is thinking of his former pastor and ‘friend’ Pastor Wright.

As if his initial comments were not enough, Wright chose to fan the flames of a controversy even more recently with his comments on Aids:

Also this week Wright basically calls Obama a Liar.
That only Wright is speaking the truth while Obama needs to be a “Politician”

Which is pretty odd since the ongoing thinking is that Obama is the only one out there speaking the truth to the American people. Puts Obama not at odds with the pundits but with his own Pastor and with his very own words.

Obama has been quoted as saying: he “wouldn’t have felt comfortable” remaining a member of Trinity, where the senator has worshipped for two decades. Yet we are again supposed to believe that you did not know about these radical statements?

This is the Elitist attitude that I had written about before. This you are too stupid to realize that he lied mentality. The don’t worry about who I associate with or what I have done in my past but what I am telling you I will Change for you in the future. What kind of BS is that? People are still eating this crap? Really!?

I being the cynic I am tend to think that this was partially planned by Obama’s camp. To try and vet everything Wright related now before the main show. Seeing as for all intents and purposes he is winning the primary against Hillary, he may as well take care of this business now.

Gingrich and several other pundits believes the opposite. That this is all Wrights doing to try and right his ‘good’ name.

Saying that Wright “went out of his way to weaken Obama” during Monday’s address at the National Press Club, Gingrich told Barbara Walters “I think Reverend Wright has a greater interest in his self-importance.”

Gingrich described Obama former pastor as “hard-line anti-American”, and said “if Rev. Wright continues to talk that the burden that Sen. Obama carries becomes bigger and bigger. ”

Gingrich described Obama’s challenges as “two-fold”, citing “left-wing relationships” calling the Illinois senator “disingenuous” about them.

As ‘close’ friends that they supposedly were prior to this debacle, I would have to think that Wright would not do anything to further damage the Miracle boys chanCes of being elected. In fact this may be the perfect way for Obama to reputiate further what Wright said and look like he is clearly at odds with the pastor on political issues.

Its a perfect plan frankly.

In other news Obama apparently isn’t ‘black enough’ for Sharpton and has not lent his support to the Bell case enough. Sharpton, accused the presidential candidate of trying to “grandstand in front of white people”. Not white enough for some not black enough for some in the black community either. Strange times indeed.

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If the main concern is of supposed global warming from CO2, then can someone explain to me why we are diligently working on vehicles that run on Hydrogen? If the whole concern is about greenhouse gases that will warm the earth and kill us all then wouldn’t using something that emits more water vapor into the air be a problem? After all water vapor contributes more to Global Warming then the air you breath out ever will.

Source

Now don’t get me wrong I think we need an alternative to the OIL that we get mostly from overseas, but is this the solution that environmentalists want to tout? We see what a disaster ethanol is turning out to be after being supported by a number of eco freaks. If we switch to this what will be the impacts?

Liberals and John McCain (almost interchangeable) better take note and study this before they start implementing things all out.

The cynical side of me just continues to think that this is all a plot to tax people more for something they have no choice but to give off. AIR! Hell they can’t charge you to breathe YET, they figure they can however charge you to exhale.

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McCain is joking right?
The man that tried to force the Amnesty plan down conservatives throats last year is talking about being out of touch with reality?

News Link

Republican U.S. presidential candidate John McCain accused North Carolina’s Republican Party of being “out of touch with reality” over its refusal to pull an advertisement criticizing Democrat Barack Obama.

In an NBC interview aired on Friday, the Arizona senator said he has done all he can to persuade the state party to cancel the television ad that criticizes Obama as “too extreme” because of controversial remarks made by his former pastor, the Rev. Jeremiah Wright.

“They’re not listening to me because they’re out of touch with reality and the Republican Party. We are the party of Abraham Lincoln, Theodore Roosevelt and Ronald Reagan and this kind of campaigning is unacceptable,” McCain told NBC’s “Today” Show.

“I’ve done everything that I can to repudiate and to see that this kind of campaigning does not continue,” he added.

Asked if the state party’s unwillingness to heed his call raised questions about his leadership, McCain replied: “I don’t know exactly how to respond to that.”

McCain must be really kidding himself if he believes that Obama won’t throw everything and the kitchen sink at him in the nomination. If he honestly believes that Obama’s relationship with the controversial pastor is not relevant then he is really out of touch with reality.

I won’t rehash the Obama debacle again but its pretty clear that the man played a role in Obama’s politics.

McCain is going to have a really hard time grabbing the base of the GOP to win. He seems to be riding all his bets on the independents and right leaning democrats. Good luck with that McCain.

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Its fair game now!?

Video Here

McCain better get his stories straight.

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Really!?
What a shock. Here a little over a year ago politicians, liberals and eco freaks were all touting the need to switch to bio fuels like Brazil. Now they are all backtracking. Realizing now the clearly obvious to all the logical thinking people out there. Taking your FOOD and turning it to fuel to run your car is STUPID. There is no nice way to say it. Its STUPID.

News Link

The campaign against climate change could be set back by the global food crisis, as foreign populations turn against measures to use foodstuffs as substitutes for fossil fuels.

With prices for rice, wheat, and corn soaring, food-related unrest has broken out in places such as Haiti, Indonesia, and Afghanistan. Several countries have blocked the export of grain. There is even talk that governments could fall if they cannot bring food costs down.

One factor being blamed for the price hikes is the use of government subsidies to promote the use of corn for ethanol production. An estimated 30% of America’s corn crop now goes to fuel, not food.

“I don’t think anybody knows precisely how much ethanol contributes to the run-up in food prices, but the contribution is clearly substantial,” a professor of applied economics and law at the University of Minnesota, C. Ford Runge, said. A study by a Washington think tank, the International Food Policy Research Institute, indicated that between a quarter and a third of the recent hike in commodities prices is attributable to biofuels.

Last year, Mr. Runge and a colleague, Benjamin Senauer, wrote an article in Foreign Affairs, “How Biofuels Could Starve the Poor.”

“We were criticized for being alarmist at the time,” Mr. Runge said. “I think our views, looking back a year, were probably too conservative.”

Ethanol was initially promoted as a vehicle for America to cut back on foreign oil. In recent years, biofuels have also been touted as a way to fight climate change, but the food crisis does not augur well for ethanol’s prospects.

“It takes around 400 pounds of corn to make 25 gallons of ethanol,” Mr. Senauer, also an applied economics professor at Minnesota, said. “It’s not going to be a very good diet but that’s roughly enough to keep an adult person alive for a year.”

Now I have not done a study, but I would say that is NOT a very good power output for 400 pounds of corn. Also judging just by the estimate of 400 pounds “providing enough food for one person for 5 years”, I would have to say that its a much larger impact on prices than just 1/3rd as they are predicting. Something tells me they are low balling it.

Mr. Senauer said climate change advocates, such as Vice President Gore, need to distance themselves from ethanol to avoid tarnishing the effort against global warming. “Crop-based biofuels are not part of the solution. They, in fact, add to the problem. Whether Al Gore has caught up with that, somebody ought to ask him,” the professor said. “There are lots of solutions, real solutions to climate change. We need to get to those.”

Mr. Gore was not available for an interview yesterday on the food crisis, according to his spokeswoman. A spokesman for Mr. Gore’s public campaign to address climate change, the Alliance for Climate Protection, declined to comment for this article.

Al Gore not willing to do a debate or answer the questions outright on his global warming theory? Say it ain’t so?! Seeing as dozens of scientists have wanted to debate him on this issue noting the several inaccuracies in his “documentary”. Plus the recent discovery that his iceberg scene in the movie was a fake!

However, the scientist who shared the Nobel Peace Prize with Mr. Gore, Rajendra Pachauri of the United Nations’s Intergovernmental Panel of Climate Change, has warned that climate campaigners are unwise to promote biofuels in a way that risks food supplies. “We should be very, very careful about coming up with biofuel solutions that have major impact on production of food grains and may have an implication for overall food security,” Mr. Pachauri told reporters last month, according to Reuters. “Questions do arise about what is being done in North America, for instance, to convert corn into sugar then into biofuels, into ethanol.”

NOW you think of this professor?
Hindsight is 20/20 sir.
This should have been a concern you raised prior to signing off on the “research”. If you did, I’d love to hear a correction.

This is all because of classic knee jerk reactions from people hell bent on shoving their silly ideologies on people as quickly as possible before they get to wise. We saw it with DDT and we now see it with the current global warming myth.

A myth that now even the Greenpeace founder is backing away from:

Greenpeace founder Patrick Moore says there is no proof global warming is caused by humans, but it is likely enough that the world should turn to nuclear power – a concept tied closely to the underground nuclear testing his former environmental group formed to oppose.

The chemistry of the atmosphere is changing, and there is a high-enough risk that “true believers” like Al Gore are right that world economies need to wean themselves off fossil fuels to reduce greenhouse gases, he said.

“It’s like buying fire insurance,” Moore said. “We all own fire insurance even though there is a low risk we are going to get into an accident.”

So I’d love to ask Gore personally.
Who’s the one that believes the world is still flat?

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Microsofts newest Operating system (Vista) has been getting lukewarm responses from many. Myself included. I tried it our and it really didn’t flow right with me. Seemed so much more geared to aesthetics then operation. Making it all pretty but loosing the simplicity of the power of XP.

That may be the reason why Apple has been kicking some major ass in its Computer sales this last quarter. Apple posted a AWESOME quarter despite the slow economy and rising costs globally for plastics, copper, cobalt etc.

Microsofts CEO hinted today that XP may not be going into tech heaven just yet:

Microsoft Corp. CEO Steve Ballmer offered a glimmer of hope on Thursday to fans of the company’s XP operating system, saying the company may reconsider its decision to stop selling XP soon.

But Ballmer was adamant that “most people who buy PCs today buy them with Vista.”

“That’s the statistical truth,” he told reporters at a news conference at Louvain-La-Neuve University. “If customer feedback varies, we can always wake up smarter.”

Fans of the six-year-old operating system set to be pulled off store shelves by June 30 have plastered the Internet with blog posts, cartoons and petitions recently. They trumpet its superiority to Windows Vista, Microsoft’s latest PC operating system, whose consumer launch in January was greeted with lukewarm reviews.

Ballmer said the customers buying PCs with XP are IT departments who are having trouble shifting old machines to newer technology.

Some 160,000 people already have signed an online Save XP Web petition who want Microsoft to keep selling it until the next version of Windows is released, currently targeted for 2010.

Might be in Microsoft’s best interest to keep XP sales going.
I myself am due up for a computer upgrade and more than likely and going to install a fresh copy of XP onto my system and hold off on a Vista update.

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Changing Indiana?

Good luck with that one Obama:

Link

With all the talk among the Democratic presidential hopefuls about change, they may wish to consider this as they wander Indiana: People here practically revolted a few years ago when their governor, Mitch Daniels, pushed to change to daylight saving time like most of the country.

Change, it seems, may not carry quite the same political magic in this state as it has elsewhere.

“We hold onto a lot of traditional values,” said Brian L. Thomas, 39, as he bought a cup of coffee along the courthouse square here on Wednesday. “Saying you’re ready to change is probably not the best or only thing you would want to say around these parts. Frankly, we want it to be like it used to be.

Is that so much to ask?
Is it so much to ask that we get things back to the way they used to be?
Where government didn’t want to take control of every single aspect of our lives from how we eat to how high or low we have our thermometers? Where Government doesn’t ask to take all our money on bullshit social programs that seem to be digging deeper holes in our society then filling?
Where we aren’t spending Billions more than we actually have?

Many of the two dozen voters interviewed in this central Indiana manufacturing city of 46,000 expressed queasiness over the notions of change that both Democratic candidates have proudly pledged elsewhere. Though residents bemoaned economic conditions that have taken away thousands of factory jobs and given the state the 11th-highest rate of foreclosures, they also said they worried about doing things — anything — very differently.

“What are we going to change to?” asked Ron O’Bryan, 58, a retired auto worker who said he was still trying to decide which Democrat to vote for in the May 6 primary. “You mean change to some other country’s system? What do you think they mean?”

Change Ron, is in the form of a socialist system like that of France, or Germany or Switzerland. Where your taxes will almost CERTAINLY increase to take on the new increase in spending. There is no other way around it. Where you are less empowered to make decisions on what your health care should be like.

No one is saying that our system we have right now is perfect, but oddly enough the biggest chunk of our problems stem from the OVER REGULATION of the industry. Where paper work has to be filled out endlessly for people on any health system. Where each state has a separate program for people.

“We are manufacturing workers, farmers, beer drinkers, gun owners, pickup drivers,” said Karen Lasley, 64, who was volunteering on Wednesday morning in Senator Hillary Rodham Clinton’s field office in Kokomo (one of 28 Mrs. Clinton has opened around the state along with Senator Barack Obama’s 22, including one just down the street). “We are full of pride for this country.”

Prepare to say GOODBYE to those guns and your pickup Karen.
Trust in democrats to pass legislation to limit your ownership on guns, and in have you pay additional taxes for driving that pick up. With the prospect of a Democratically controlled House, Senate and White house, its all but inevitable that these things will happen.

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