An interesting look at the geopolitics of the current Pope. It's a bit of a heavy read, but worth slogging through. I think if you finish it, you can earn three credits in political theory....
Catholicism and I have a long history. I was raised a Catholic, but have attended primarily Presbyterian and Episcopal services since.
There are a lot of things about Catholicism that I don't like, enough that I don't attend Mass much anymore, unless I'm with my parents. That said, I have a reverence for and a love of Catholicism that starts with my great admiration for the office of the Pope.
There have been four Popes in my life; Paul VI, John Paul I and II, and now Benedict. Basically though, there really have only been two (the last two). I was too young to think clearly about Paul VI and JPI was on the scene for just a short while (always wondered if God simply vetoed the choice of the College of Cardinals).
John Paul II was a giant, a man with such moral authority that he is often put in the class of Thatcher, Reagan and Gorbachev in terms of his influence in the death of the Warsaw Pact. He played a dominant role in world politics for a long time, and his voice was one of strength and love for those yearning for freedom--political freedom and freedom from want.
Following him is a tough act, but I think Benedict is up to it. Read the article. Look at how he is talking to the world, especially the Islamic world. He understands (like many others), that Islam needs a reformation if it is to be a positive force in the modern world. His words urge are powerful, and some in the Islamic world are listening.
I like knowing that there is one guy in the world who spends all his waking moments thinking about every single one of the rest of us. At the moment, I'm glad it is Benedict XVI.
Saturday, September 20, 2008
Palin is Getting Good Press in London
Glowing review here for Governor Palin, from a Brit who seems to get American voters better than the Democratic Party does.
Tidal Current Turbines
Mayor Bloomberg is a bit of a nanny for my tastes, but his leadership in moving NYC forward in alternative and renewable energy is laudable. This article describes an initiative to sink small rotors on the bottom of the East River to capture the energy of predictable and strong tidal currents. Of course, there had to be the requisite $2M spent on ensuring some nearly extent radiolarian or foraminifera was not harmed, but the project will soon be bringing power to 10000 homes in an already energy strapped part of the country.
Of intersest in the article also is the discussion of the aging energy infrastructure in this country. Even if we radically increase the amount of energy produced through alternative and renewable means, we still need to get it where it needs to go, as storing energy remains the great holy grail of the power industry.
Of intersest in the article also is the discussion of the aging energy infrastructure in this country. Even if we radically increase the amount of energy produced through alternative and renewable means, we still need to get it where it needs to go, as storing energy remains the great holy grail of the power industry.
On Shopping at Goodwill
Great article on the increase in sales at the nation's Goodwill stores. It seems that not only the down on their luck crowd shops there, but also a growing number of plain old bargain hunters.
I know a guy who buys all his suits and sportcoats from Goodwill (well, I don't just know him, he's one of my brothers). The look of pure pride on his face as he struts about in a $20 suit is absolutely priceless. I of course, take great pride in busting his stones about it, but he just paid off his 30 year mortgage in 12 years and has already funded his the college educations of his two children.
Maybe I'll start shopping there...
I know a guy who buys all his suits and sportcoats from Goodwill (well, I don't just know him, he's one of my brothers). The look of pure pride on his face as he struts about in a $20 suit is absolutely priceless. I of course, take great pride in busting his stones about it, but he just paid off his 30 year mortgage in 12 years and has already funded his the college educations of his two children.
Maybe I'll start shopping there...
Has Bush Changed?
Interesting article on the differences between the first and second administrations of George Bush. I think it is indeed fair to say that he has changed during the course of his Presidency, but the extent of that change depends on where the observer saw him starting.
I think most hard-line conservatives saw George Bush as more of a center-right figure (like me, like George the Elder). To win the Presidency, I think George the Younger tried to talk a good game to the meat eaters, but they never really embraced him. Yes, there were signs of solid conservatism (the tax cuts, the obviation of treaties that no longer served our interests), but all in all, George Bush is a pragmatist informed by ideology, not an ideologue.
I think most liberals heard only the conservative rhetoric on the stump, and they did not look at how he governed in Texas. Thus began the caricature of George Bush as ne0-conservative gorilla, which was never even close to the pragmatic approach to governing he took in Texas.
He came to power eschewing "nation building". Then the world changed, and his mission became focused on defense of the homeland. So now we are more engaged in nation building than any of us would really like, though the activity is clearly required. He's clearly a free-market man, but again, the nation's basic health was at risk....and he acted.
George Bush is a political pragmatist with a few central ideas. I honestly believe his religious views have motivated him to act with more humanity than many on the right would like (considerable increases in health funding for Africa, the prescription drug benefit), and I think he deeply believes in a culture of life (his August 2001 stem-cell decision remaining one of the most important and well thought out of his tenure).
Has he changed in office? Yes. But I think that change was more predictable than some would see it, and I think its extent is far less than some would see it.
I think most hard-line conservatives saw George Bush as more of a center-right figure (like me, like George the Elder). To win the Presidency, I think George the Younger tried to talk a good game to the meat eaters, but they never really embraced him. Yes, there were signs of solid conservatism (the tax cuts, the obviation of treaties that no longer served our interests), but all in all, George Bush is a pragmatist informed by ideology, not an ideologue.
I think most liberals heard only the conservative rhetoric on the stump, and they did not look at how he governed in Texas. Thus began the caricature of George Bush as ne0-conservative gorilla, which was never even close to the pragmatic approach to governing he took in Texas.
He came to power eschewing "nation building". Then the world changed, and his mission became focused on defense of the homeland. So now we are more engaged in nation building than any of us would really like, though the activity is clearly required. He's clearly a free-market man, but again, the nation's basic health was at risk....and he acted.
George Bush is a political pragmatist with a few central ideas. I honestly believe his religious views have motivated him to act with more humanity than many on the right would like (considerable increases in health funding for Africa, the prescription drug benefit), and I think he deeply believes in a culture of life (his August 2001 stem-cell decision remaining one of the most important and well thought out of his tenure).
Has he changed in office? Yes. But I think that change was more predictable than some would see it, and I think its extent is far less than some would see it.
On the Bailout
Well, it was an interesting week on Wall Street. Things were not nearly as bad as a 504 point loss would indicate, and they are not nearly as good as the gains of the last two days indicate. That said, the Administration's plan to stop the death by a thousand pinpricks (picking which companies would go under one at a time) with bold, sweeping action is a good start.
Yes, this entire thing goes against my libertarian, free market impulses. That said, our markets are not completely free, nor are those of our competitors. Government intervention and regulation is sometimes necessary to ensure fairness and confidence. Watching our economy implode in contagion while spouting free market support is not an effective way to govern. President Bush's team is a group of fantastically talented public servants, and they are doing a superb job in trying to attack what was some thing that could (and can) hobble our economy for decades.
Yes, this entire thing goes against my libertarian, free market impulses. That said, our markets are not completely free, nor are those of our competitors. Government intervention and regulation is sometimes necessary to ensure fairness and confidence. Watching our economy implode in contagion while spouting free market support is not an effective way to govern. President Bush's team is a group of fantastically talented public servants, and they are doing a superb job in trying to attack what was some thing that could (and can) hobble our economy for decades.
Thursday, September 18, 2008
Paying Higher Taxes is Patriotic
....according to Joe Biden. I must respectfully disagree. Maximizing one's economic circumstances is patriotic. Having one's property confiscated is not patriotism. Patriotism cannot be obtained by the barrel of a gun.
Interesting Con Man Article
This fellow seems to be quite a piece of work. He conned a lot of people into giving him their money. What I found most interesting was the mention of a "...struggling janitor at the Verizon Center..." who lost $7200. This woman was saving for "her first home".
Here we have one of the excesses of the President Bush "ownership society" fueled by the Dems favorite charities (Fannie Mae and Freddie Mac), with match thrown on in the form of a talented con man.
Putting aside for a moment the janitors desire to own a home, why would this person be so convinced that owning a home is so important? What have we done in our society to so thoroughly legitimize what is--like ALL other investments--a risky proposition.
No, this person would have been a lot better off renting an apartment or a house.
Here we have one of the excesses of the President Bush "ownership society" fueled by the Dems favorite charities (Fannie Mae and Freddie Mac), with match thrown on in the form of a talented con man.
Putting aside for a moment the janitors desire to own a home, why would this person be so convinced that owning a home is so important? What have we done in our society to so thoroughly legitimize what is--like ALL other investments--a risky proposition.
No, this person would have been a lot better off renting an apartment or a house.
Dow Up 410
A good day on Wall Street, but not that good. A bit of irrational exuberance, I'd say, just like the big losses this week were the result of irrational pessimism. Central banks pumping money into the system is a good idea, and the feds thinking about something like the RTC from Savings and Loan crisis days is also a good idea.
There's plenty of money out there ladies and gentlemen, but it is sitting on the sidelines waiting to get back in the game. Confidence will breed confidence, and eventually, that money will flow back in.
There's plenty of money out there ladies and gentlemen, but it is sitting on the sidelines waiting to get back in the game. Confidence will breed confidence, and eventually, that money will flow back in.
Wednesday, September 17, 2008
My Favorite DC Criminal
The story was a blockbuster; folks in the DC tax office effectively skimmed $48 million from public coffers over twenty years, with Harriette Walters leading the way. Ms. Walters' spending habits as outlined in this article are noteworthy; of particular interest to me were her Barbie Doll collection and her personal shopper at Neiman Marcus.
That it could have gone on for so long is amazing to me. There is a fantastic movie to be made here, one that reinforces just how greedy people can be.
That it could have gone on for so long is amazing to me. There is a fantastic movie to be made here, one that reinforces just how greedy people can be.
On the Falling Price of Oil
I like most others, am happy that oil prices are falling. It had become an almost daily practice of mine to drive by the gas station near our house to watch the numbers climb. They fall much more slowly (of course), but they have been falling nonetheless.
We need leadership now though, to make sure that falling prices do not cause lethargy and complacency. We need to keep talking about the national security implications of importing so much oil from people who would like nothing more than to see us suffer. We need to talk proudly about how our cutting consumption this summer is helping to lower the price of oil, something that directly impacts the bottom line of these petro-thug countries. We need to remind people that we can't go backwards, that we need to continue to move forward on nuclear, solar, wind, clean coal and other alternative and renewable fuels. We need to tout the benefits to our country of investing in technology that will lessen our oil dependency. We need to try and resist the temptations of human nature, and just return to the same habits that put us in the position we found ourselves three months ago.
We need leadership now though, to make sure that falling prices do not cause lethargy and complacency. We need to keep talking about the national security implications of importing so much oil from people who would like nothing more than to see us suffer. We need to talk proudly about how our cutting consumption this summer is helping to lower the price of oil, something that directly impacts the bottom line of these petro-thug countries. We need to remind people that we can't go backwards, that we need to continue to move forward on nuclear, solar, wind, clean coal and other alternative and renewable fuels. We need to tout the benefits to our country of investing in technology that will lessen our oil dependency. We need to try and resist the temptations of human nature, and just return to the same habits that put us in the position we found ourselves three months ago.
Constitution Day
Today is the 221st anniversary of the signing of the Constitution of the United States, a magnificent document designed to create participatory government amongst imperfect human beings. It is a work of true genius, and its majesty has not been surpassed by any other form of government.
A quick sea-story. In the component of the Navy in which I grew up (Surface Warfare), a young officer--after approximately a year of watchstanding, practical examinations, and other professional tests, would have to sit for a "Surface Warfare Officer (SWO) Board". If he or she passed the board, they would be a qualified SWO and would be permitted to wear the gold breast insignia of the SWO world. It is a big day in the life of a young surface officer, and the commanding officer is the sole arbiter of their fitness.
Early on in my time as CO, I had to administer my first board. Present was the leadership structure of my ship (the XO and a few of the Department Heads), who would assist me by also asking questions of the candidate. I announced that I would save my questions for last, and then proceeded watch the Department Heads and then the XO examine the candidate in turn. This young man was stunningly well-prepared, and it was clear to all that he would pass his board.
When it came time for me to ask my questions, I first asked if he could remember any portion of the commissioning oath he took. This guy was sharp, and he got most of it right...most importantly though, he was aware of our requirement to "support and defend the Constitution of the United States against all enemies foreign and domestic..." This is where it got fun. I posited that if a man had sworn to give his life for a piece of paper, a set of ideas, then surely he knew a few things about that document. For instance, I asked, how many articles are there? Blank look. Is the number of Supreme Court Justices fixed in the Constitution? Blank again. How old must one be to serve in the House of Representatives? Nada. I asked a few more questions and he was equally clueless.
This once confident future surface warrior began quite obviously to become dejected and fearful. Sensing this, I brought the proceeding to a close and asked him to leave the room for our deliberation. The Department Heads were incredulous and laughing. They couldn't believe that I turned a SWO board into a symposium on the Constitution. I repeated to them that which I said in the board...that if you were swearing to give your life for something, you damn sure ought to know what that is.
Each of the others voted to pass the young man, and so I invited him back into the room. Not having voiced my opinion in the deliberations, I could tell that the Department Heads wondered if I were going to fail the guy because of his lack of Constitutional knowledge. Nope, couldn't do that...this kid was too good. I congratulated him and pinned his shiny gold SWO pin on that day.
But the word got out immediately. Not only did future SWO candidates learn their ship, their Navy, the other Services, the Joint World, OSD etc....they read about their Constitution, and they came ready to play. It was one of the best things I did as Captain.
A quick sea-story. In the component of the Navy in which I grew up (Surface Warfare), a young officer--after approximately a year of watchstanding, practical examinations, and other professional tests, would have to sit for a "Surface Warfare Officer (SWO) Board". If he or she passed the board, they would be a qualified SWO and would be permitted to wear the gold breast insignia of the SWO world. It is a big day in the life of a young surface officer, and the commanding officer is the sole arbiter of their fitness.
Early on in my time as CO, I had to administer my first board. Present was the leadership structure of my ship (the XO and a few of the Department Heads), who would assist me by also asking questions of the candidate. I announced that I would save my questions for last, and then proceeded watch the Department Heads and then the XO examine the candidate in turn. This young man was stunningly well-prepared, and it was clear to all that he would pass his board.
When it came time for me to ask my questions, I first asked if he could remember any portion of the commissioning oath he took. This guy was sharp, and he got most of it right...most importantly though, he was aware of our requirement to "support and defend the Constitution of the United States against all enemies foreign and domestic..." This is where it got fun. I posited that if a man had sworn to give his life for a piece of paper, a set of ideas, then surely he knew a few things about that document. For instance, I asked, how many articles are there? Blank look. Is the number of Supreme Court Justices fixed in the Constitution? Blank again. How old must one be to serve in the House of Representatives? Nada. I asked a few more questions and he was equally clueless.
This once confident future surface warrior began quite obviously to become dejected and fearful. Sensing this, I brought the proceeding to a close and asked him to leave the room for our deliberation. The Department Heads were incredulous and laughing. They couldn't believe that I turned a SWO board into a symposium on the Constitution. I repeated to them that which I said in the board...that if you were swearing to give your life for something, you damn sure ought to know what that is.
Each of the others voted to pass the young man, and so I invited him back into the room. Not having voiced my opinion in the deliberations, I could tell that the Department Heads wondered if I were going to fail the guy because of his lack of Constitutional knowledge. Nope, couldn't do that...this kid was too good. I congratulated him and pinned his shiny gold SWO pin on that day.
But the word got out immediately. Not only did future SWO candidates learn their ship, their Navy, the other Services, the Joint World, OSD etc....they read about their Constitution, and they came ready to play. It was one of the best things I did as Captain.
Tuesday, September 16, 2008
Silver Lining in the Financial Crisis?
I've been trying to think of good news, or potentially good news, that might come from the financial mess we're in right now. I came across this editorial this morning, which projects a 15 percent cut in the number of jobs in the financial industry.
Perhaps a softening in the employment outlook (and concomitant ridiculous bonus structure) for the financial industry will make working there a less sought after option for young, smart people. We need a HELL of a lot more engineers and scientists in this country, so maybe some will turn in that direction.
There has to be something good about this.....
Perhaps a softening in the employment outlook (and concomitant ridiculous bonus structure) for the financial industry will make working there a less sought after option for young, smart people. We need a HELL of a lot more engineers and scientists in this country, so maybe some will turn in that direction.
There has to be something good about this.....
On Financial Crises
Tough day yesterday on Wall Street, and while I believe we may have bottomed out, we'll see how prescient that is as time goes on. AIG's liquidity problems are troubling, but I suspect they'll be saved by a consortium of financial industry giants and private equity. I think the Feds are right in staying on the sidelines; they've done plenty already, and the market needs to react to the changes.
I am a believer in the free market. I am also a realist who understands the imperfections of human beings. Free markets exist and thrive when there is confidence that everyone has an equal chance of winning and losing. This is where government regulation comes in. While I am the last person to want to be seen as an advocate of government regulation, it seems obvious to me that the financial markets are one place where a bit more oversight should be implemented. Quickly.
I am a believer in the free market. I am also a realist who understands the imperfections of human beings. Free markets exist and thrive when there is confidence that everyone has an equal chance of winning and losing. This is where government regulation comes in. While I am the last person to want to be seen as an advocate of government regulation, it seems obvious to me that the financial markets are one place where a bit more oversight should be implemented. Quickly.
Monday, September 15, 2008
500 Points
I think the Dow will lose 500 points today. It is going to be a high volume fire-sale.
But then I think we're about at the bottom. Bear Stearns and Lehman Bros gone, Merrill Lynch now to be owned by Bank America.
It looks like the market is taking care of overcapacity in the investment banking sector. It is ugly, it is painful, and it is both exacerbated by and a prime cause of the housing crisis.
But then I think we're about at the bottom. Bear Stearns and Lehman Bros gone, Merrill Lynch now to be owned by Bank America.
It looks like the market is taking care of overcapacity in the investment banking sector. It is ugly, it is painful, and it is both exacerbated by and a prime cause of the housing crisis.
On Washington Insiders
Norm Ornstein's got a smart column on Washington insiders in this morning's WaPost. Running against Washington is the most popular way to position oneself to be President, yet many new Presidents find that the city has a code all its own, requiring the assistance of those steeped in its ways. There are ways to get things done in this town, and there are ways to make yourself into one hand clapping. Ornstein's got it right here....Washington insiders are often times critical parts of a successful approach to governing.
Some Credit for Bush
The "surge" will someday be widely remembered as an act of transcendent courage by President Bush. Doubling down when things looked hopeless provides an object lesson in leadership for those who follow him. Fred Hiatt's editorial today is (hopefully) the leading edge of a more probing and insightful treatment of the President's foreign policy (especially term two) by thoughtful editorial writers.
Sunday, September 14, 2008
Just How Friendly is Friendly's?
Oldest brother took this photo in Geneva, NY last week. Mighty friendly Friendly's, if you ask me!
Corporate Tax Rates
A few posts down in the Obama and Taxes thread, Captain Midnight tries to make the case that corporations don't pay high corporate tax rates, and he cites his own personal return to explicate his case.
I initially tried to answer in that threat, but couldn't get this table in there. So here it is. You can plainly see that US businesses do not have to be that profitable to hit very high corporate tax rates.
Corporate Income Tax Rates--2008, 2007, 2006, 2005, 2004, 2003
Taxable income over / Not over / Tax rate
$ 0/ $ 50,000/ 15%
50,000/ 75,000/ 25%
75,000/ 100,000/ 34%
100,000/ 335,000/ 39%
335,000/ 10,000,000/ 34%
10,000,000/ 15,000,000/ 35%
15,000,000/ 18,333,333/ 38%
18,333,333/ .......... / 35%
I initially tried to answer in that threat, but couldn't get this table in there. So here it is. You can plainly see that US businesses do not have to be that profitable to hit very high corporate tax rates.
Corporate Income Tax Rates--2008, 2007, 2006, 2005, 2004, 2003
Taxable income over / Not over / Tax rate
$ 0/ $ 50,000/ 15%
50,000/ 75,000/ 25%
75,000/ 100,000/ 34%
100,000/ 335,000/ 39%
335,000/ 10,000,000/ 34%
10,000,000/ 15,000,000/ 35%
15,000,000/ 18,333,333/ 38%
18,333,333/ .......... / 35%
Surprising Post Editorial
Not only is the Post supporting recent missions into the "ungoverned" areas of Pakistan, it refers to those missions as "long overdue".
What I find interesting is that if you substitute "Cambodia" for "Pakistan" and "Vietnam" for "Afghanistan", there seems to be a rather sensible case for the bombing we did in Cambodia during the Vietnam War, which was so roundly criticized by liberals. Doing it then was right, doing it now is right.
What I find interesting is that if you substitute "Cambodia" for "Pakistan" and "Vietnam" for "Afghanistan", there seems to be a rather sensible case for the bombing we did in Cambodia during the Vietnam War, which was so roundly criticized by liberals. Doing it then was right, doing it now is right.
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