Monday, September 29, 2008
Barney Frank's Culpability
The more I learn about this financial crisis, the more I come to see Barney Frank as a real contributor to it. Jeff Jacoby agrees. The Bush Administration worked hard in 2003 to try and rein in Fannie and Freddie...you remember them, the guys who twisted the arm of mortgage lenders across the country to lower their standards so less-credit worthy customers could purchase mortgages (that Fannie and Freddie then purchased from them). Barney Frank led the charge against the big, bad, racist Bush administration, who he painted as trying to deprive low-income people of the American dream. Those chickens have come home to roost (thank you Reverend Wright)
An Open Letter to House Republicans
Dear Republican Members of the House of Representatives,
Today, is the first day in my political life where I can honestly say that I am embarrassed to be a Republican. Your actions today have the potential to: deal our economy a blow that will take decades from which to recover, hand the election to Barack Obama, destroy any hope of eventually privatizing any portion of social security, lock legalized abortion in as the law of the land, and relegate the Republican Party to a minority status for the rest of my expected lifespan. Nice going.
Now I know a third of you did the right thing and voted for the is bill. I am not now writing to you, but I would urge you to exert as much pressure on your colleagues as possible to work toward a bill that gets sufficient votes to pass.
No one likes what this bill represents. It is in fact, antithetical to much of what the Republican Party stands for, and if it were put forward under anything but emergency circumstances, your cries of creeping socialism and "the courage to fail" might be worth listening to. But now, they may simply be the words on the tombstone of a once-great party. We are in a genuine emergency, an emergency caused at its heart by human nature. Human nature drove people to seek more house than they could afford. Human nature drove the Democratic Party to resist regulating Fannie and Freddie. Human nature caused financial interests to mitigate risk by collateralizing these debts. Human nature drove investment banks to move heavily into these debts because of the once evident upside. Human nature...at every step of the way...compounded this problem.
In Federalist 51, James Madison told us that if men were angels, government would not be necessary. But we all know, that there have been no angels in this financial crisis. It falls upon government to be that institution charged with mediating among men (and women), that institution charged with ensuring that the runaway impact of human nature does not destroy the country.
This bill is not perfect, but it is necessary. So now it is time to do the right thing. Yes, if you vote against this bill, you will go home to your safe districts, where the folks there don't really understand how globally connected the world finance system is, and you can tell them you stood up to Wall Street. Tell them this as inflation rises, as unemployment rises, as the economy contracts, and their buying power decreases. Tell them this as their 401K's continue to lose value. Remind them that you stood up to Wall Street! As more and more banks fail and our GDP begins to look more like China's, tell them you stood up to the special interests! When Barack Obama appoints Hillary Clinton the the Supreme Court, and Roe v. Wade moves into the category of untouchable decisions, tell your district you acted against creeping socialism! Twenty years from now, when you've spent twenty years in the legislative desert, keep telling your constituents that you stood athwart history and yelled "Stop"...but history kept coming. And when your constituents come to you two decades from now, wondering if social security will be there for them when they need it, you can change the subject, because you stood up to the big, greedy investment banks.
When the ship is sinking, a good Captain does not worry about whether the ship's bell is shiny, as important as that might be. He takes action to save the ship. Take action, House Republicans, while you still have voices that will matter.
Today, is the first day in my political life where I can honestly say that I am embarrassed to be a Republican. Your actions today have the potential to: deal our economy a blow that will take decades from which to recover, hand the election to Barack Obama, destroy any hope of eventually privatizing any portion of social security, lock legalized abortion in as the law of the land, and relegate the Republican Party to a minority status for the rest of my expected lifespan. Nice going.
Now I know a third of you did the right thing and voted for the is bill. I am not now writing to you, but I would urge you to exert as much pressure on your colleagues as possible to work toward a bill that gets sufficient votes to pass.
No one likes what this bill represents. It is in fact, antithetical to much of what the Republican Party stands for, and if it were put forward under anything but emergency circumstances, your cries of creeping socialism and "the courage to fail" might be worth listening to. But now, they may simply be the words on the tombstone of a once-great party. We are in a genuine emergency, an emergency caused at its heart by human nature. Human nature drove people to seek more house than they could afford. Human nature drove the Democratic Party to resist regulating Fannie and Freddie. Human nature caused financial interests to mitigate risk by collateralizing these debts. Human nature drove investment banks to move heavily into these debts because of the once evident upside. Human nature...at every step of the way...compounded this problem.
In Federalist 51, James Madison told us that if men were angels, government would not be necessary. But we all know, that there have been no angels in this financial crisis. It falls upon government to be that institution charged with mediating among men (and women), that institution charged with ensuring that the runaway impact of human nature does not destroy the country.
This bill is not perfect, but it is necessary. So now it is time to do the right thing. Yes, if you vote against this bill, you will go home to your safe districts, where the folks there don't really understand how globally connected the world finance system is, and you can tell them you stood up to Wall Street. Tell them this as inflation rises, as unemployment rises, as the economy contracts, and their buying power decreases. Tell them this as their 401K's continue to lose value. Remind them that you stood up to Wall Street! As more and more banks fail and our GDP begins to look more like China's, tell them you stood up to the special interests! When Barack Obama appoints Hillary Clinton the the Supreme Court, and Roe v. Wade moves into the category of untouchable decisions, tell your district you acted against creeping socialism! Twenty years from now, when you've spent twenty years in the legislative desert, keep telling your constituents that you stood athwart history and yelled "Stop"...but history kept coming. And when your constituents come to you two decades from now, wondering if social security will be there for them when they need it, you can change the subject, because you stood up to the big, greedy investment banks.
When the ship is sinking, a good Captain does not worry about whether the ship's bell is shiny, as important as that might be. He takes action to save the ship. Take action, House Republicans, while you still have voices that will matter.
Sunday, September 28, 2008
On the Wedding of a Friend
I am on the last leg of a journey to California to witness the wedding of a friend of mine. He and his beautiful bride actually have been married for some period of months now, but they decided to have a ceremony atop a hill overlooking a winery near Sacramento. It was all in all, a splendid affair.
The groom is a fine fellow, well-educated and exceptionally bright. He is a naval officer, one of the poor souls who once had to toil under my yoke but who with astonishing good cheer, continue to be friendly with me nonetheless. He met his bride the new fashioned way, through Match.com I believe. They are well-matched. She is an accomplished actress (yes, I used that word, not actor) who gave up that profession in order to be with him. She has nearly completed a Masters Degree in Acupuncture and Chinese Medicine, and her free-spiritedness conforms nicely to his mischievous side, while his strength of character provides an obvious anchor for her.
I must admit to having had second thoughts about travel to California for the wedding--not connected in any way to the obvious strength this match represented. No, I was being a little selfish. I've got a pretty substantial work and personal travel schedule between now and mid October, and I already live half-time away from my kitten and her girls. Returning to them on weekends is a source of great constancy for me, and due to my own scheduling, I will be away from them four of five weekends. I felt a little tugged, though it was all of my own creation.
Then I watched as my friend and his love said their vows atop a vineyard hill, and I realized how selfish I had been. This was a great day, and these were great people. The crime would have been if I had not shown up. As I approached my friend to offer him congratulations on his wedding day, his voice choked a bit as he told me how much he appreciated my making the trip. I felt the great pride of a (not much) older brother, and the shame of actually considering missing this moment.
The groom is a fine fellow, well-educated and exceptionally bright. He is a naval officer, one of the poor souls who once had to toil under my yoke but who with astonishing good cheer, continue to be friendly with me nonetheless. He met his bride the new fashioned way, through Match.com I believe. They are well-matched. She is an accomplished actress (yes, I used that word, not actor) who gave up that profession in order to be with him. She has nearly completed a Masters Degree in Acupuncture and Chinese Medicine, and her free-spiritedness conforms nicely to his mischievous side, while his strength of character provides an obvious anchor for her.
I must admit to having had second thoughts about travel to California for the wedding--not connected in any way to the obvious strength this match represented. No, I was being a little selfish. I've got a pretty substantial work and personal travel schedule between now and mid October, and I already live half-time away from my kitten and her girls. Returning to them on weekends is a source of great constancy for me, and due to my own scheduling, I will be away from them four of five weekends. I felt a little tugged, though it was all of my own creation.
Then I watched as my friend and his love said their vows atop a vineyard hill, and I realized how selfish I had been. This was a great day, and these were great people. The crime would have been if I had not shown up. As I approached my friend to offer him congratulations on his wedding day, his voice choked a bit as he told me how much he appreciated my making the trip. I felt the great pride of a (not much) older brother, and the shame of actually considering missing this moment.
On the Red Carpet Club
Well, I finally did it; ponied up the 500 quid for one year's worth of entrance to the United Air Lines' "Red Carpet Club". Faithful readers will recognize that I have posted from RCC's before, but then those times were always on the $50 "Daily Pass". Thinking I would make at least a dozen coast to coast trips this year, and my airline of choice seems to be United, I figured a minimum of 24 opportunities to luxuriate would present themselves.
Given an approximate length of time of 90 minutes during each opportunity, this breaks down to a rate of $13.88 an hour...certainly worthwhile at that rate.
It really is nice here (SFO). Lots of leather, very clubby, big windows looking out upon the workings of a very busy airport. Snacks, soft drinks, coffee, service, smiles, and electrical outlets. I was a bit surprised to find actual manual handvalves to operate the running water in the loo, figuring if anywhere would have automatic fixtures, surely this outpost of comfort would. These days, I find myself more and more defaulting to simply holding my hands under the faucet in public facilities, awaiting the instant gratification of seemingly unbidden water. Occasionally, this does not work. Like today.
But all in all, this is a good move. Though people watching at the airport has come to be one of my favorite past-times, it pales in comparison to time spent on the blog. Blogging is definitely (for me) a pursuit best had in comfort.
Given an approximate length of time of 90 minutes during each opportunity, this breaks down to a rate of $13.88 an hour...certainly worthwhile at that rate.
It really is nice here (SFO). Lots of leather, very clubby, big windows looking out upon the workings of a very busy airport. Snacks, soft drinks, coffee, service, smiles, and electrical outlets. I was a bit surprised to find actual manual handvalves to operate the running water in the loo, figuring if anywhere would have automatic fixtures, surely this outpost of comfort would. These days, I find myself more and more defaulting to simply holding my hands under the faucet in public facilities, awaiting the instant gratification of seemingly unbidden water. Occasionally, this does not work. Like today.
But all in all, this is a good move. Though people watching at the airport has come to be one of my favorite past-times, it pales in comparison to time spent on the blog. Blogging is definitely (for me) a pursuit best had in comfort.
A Deal on the Bail-out?
Looks like Congressional and Administration negotiators have reached a deal on the bailout, one larded with a little something for everyone. That's the way it works in DC, and on the whole I think what they've brought forward is sensible and proportionate.
Of interest to me are a couple of provisions, one that doles out the money in steps (as was advocated by Senator Chuch Shumer--and with which I agreed) and one that permits the President to propose a fee on the financial services industry if after 5 years, the government hasn't earned its money back (who do they think will really pay this fee?)
Executive compensation took a hit too; don't know too much about the restrictions, but it will be interesting to see how this shakes out.
Of interest to me are a couple of provisions, one that doles out the money in steps (as was advocated by Senator Chuch Shumer--and with which I agreed) and one that permits the President to propose a fee on the financial services industry if after 5 years, the government hasn't earned its money back (who do they think will really pay this fee?)
Executive compensation took a hit too; don't know too much about the restrictions, but it will be interesting to see how this shakes out.
Civility and this Blog
I have been a bit inconsistent in the way I deal with civility in this blog, and I want it to stop. In an comment this morning on one of CAPT Midnight's comments to the Obama and Racism post below, I chided him for insulting me and my readers. In several other posts this morning, CAPT Midnight made comments I considered insulting, and I had decided to ignore his posts...except that he made what I thought was a quality post worthy of responding to.
This got me thinking that there have been plenty of instances recently where I have not responded when folks have said things here that were uncivil or insulting, probably because the targets were generally folks whose views I do not hold.
That needs to stop. I will be much more careful about policing the rhetoric here, making liberal use of the trash button if the rhetoric deviates from discussions of policy/opinion. Insults, whether aimed at individuals or at groups of individuals, will not be tolerated, no matter the target.
For example, I consider charges that Barack Obama is somehow aligned with Osama bin Laden or any other Islamic terrorist, to be insulting and uncivil. I do not consider questions about his acknowledged relationship with an acknowledged terrorist (Bill Ayers) to be insulting or uncivil. I consider my raising the question of the impropriety of the use of the word "homophobic" to describe the distaste I feel for the ACTS that distinguish homosexuality legitimate. I consider broad insults designed to undercut the humanity of people who ARE homosexual to be insulting and uncivil. I consider MSNBC to be blatantly left of center; I do not think people who watch MSNBC are any less intelligent than those who watch Fox or CNN.
Ok, so let's try and all stay on the up and up here.
This got me thinking that there have been plenty of instances recently where I have not responded when folks have said things here that were uncivil or insulting, probably because the targets were generally folks whose views I do not hold.
That needs to stop. I will be much more careful about policing the rhetoric here, making liberal use of the trash button if the rhetoric deviates from discussions of policy/opinion. Insults, whether aimed at individuals or at groups of individuals, will not be tolerated, no matter the target.
For example, I consider charges that Barack Obama is somehow aligned with Osama bin Laden or any other Islamic terrorist, to be insulting and uncivil. I do not consider questions about his acknowledged relationship with an acknowledged terrorist (Bill Ayers) to be insulting or uncivil. I consider my raising the question of the impropriety of the use of the word "homophobic" to describe the distaste I feel for the ACTS that distinguish homosexuality legitimate. I consider broad insults designed to undercut the humanity of people who ARE homosexual to be insulting and uncivil. I consider MSNBC to be blatantly left of center; I do not think people who watch MSNBC are any less intelligent than those who watch Fox or CNN.
Ok, so let's try and all stay on the up and up here.
Saturday, September 27, 2008
On Piracy
Interesting article here about the piracy problem off the coast of Somalia. According to the article, some 61 ships have been attacked by these pirates, who operate basically a sea-based shakedown operation in which they hold the vessel and crew captive until the shipping company pays the ransom.
This has been a problem in other parts of the world, most notably in the Strait of Malacca. There, nations in the vicinity (Malaysia, Singapore, Indonesia) --with US help-- came together to police and patrol the waters, driving the piracy threat down considerably. Off of Somalia, the nearby nations can't field much a maritime effort, so there is a multi-national naval force operating to help deal with this threat.
We must however, keep a sense of perspective. While 61 ships were attacked in this area, some 21,900 were not. While we worked on the new US Maritime Strategy, it was a battle to resist those who would try to raise this threat to a level it did not deserve. This is a problem to be solved largely by attacking the shore-based profiteers from piracy AND through regional naval alliances that in most cases do NOT include US naval vessels. Putting too much emphasis on the interdiction of pirates leads some to the misplaced conclusion that we need to greatly step up the allocation of resources to combat this problem--often times with little or no thought to what the impact of such a shift in resources would mean to the world's most powerful power projection Navy.
Combating piracy must be placed in the context of providing what has come to be called "Maritime Security", which is an area in which our Navy must (and is) begin to devote additional resources. Good order at sea, the ability to police one's own waters, the provision of protection to key offshore industrial sites, reducing smuggling, interdicting narcotics, illegal weapons shipments and weapons of mass destruction....these ALL fall into under the heading of Maritime Security, an increasingly important mission in our closely interconnected world.
This has been a problem in other parts of the world, most notably in the Strait of Malacca. There, nations in the vicinity (Malaysia, Singapore, Indonesia) --with US help-- came together to police and patrol the waters, driving the piracy threat down considerably. Off of Somalia, the nearby nations can't field much a maritime effort, so there is a multi-national naval force operating to help deal with this threat.
We must however, keep a sense of perspective. While 61 ships were attacked in this area, some 21,900 were not. While we worked on the new US Maritime Strategy, it was a battle to resist those who would try to raise this threat to a level it did not deserve. This is a problem to be solved largely by attacking the shore-based profiteers from piracy AND through regional naval alliances that in most cases do NOT include US naval vessels. Putting too much emphasis on the interdiction of pirates leads some to the misplaced conclusion that we need to greatly step up the allocation of resources to combat this problem--often times with little or no thought to what the impact of such a shift in resources would mean to the world's most powerful power projection Navy.
Combating piracy must be placed in the context of providing what has come to be called "Maritime Security", which is an area in which our Navy must (and is) begin to devote additional resources. Good order at sea, the ability to police one's own waters, the provision of protection to key offshore industrial sites, reducing smuggling, interdicting narcotics, illegal weapons shipments and weapons of mass destruction....these ALL fall into under the heading of Maritime Security, an increasingly important mission in our closely interconnected world.
On the Death of Paul Newman
Paul Newman is dead at the age of 83. The man's politics were suspect, but he sure did make some great movies. I cannot do justice to the utter surprise I experienced at the end of "The Sting", and I have always thought "Butch Cassidy and the Sundance Kid" was one of the best westerns every made.
That said, he was yet another of a brand of celebrity who felt so uncomfortable with their fame that they had to "give something" back to the rest of us....and that is, their insipid political views. Shut up and dance, I tell them.
That said, he was yet another of a brand of celebrity who felt so uncomfortable with their fame that they had to "give something" back to the rest of us....and that is, their insipid political views. Shut up and dance, I tell them.
Friday, September 26, 2008
LIVE BLOG THE DEBATE HERE!
In a stunning bit of poor planning, I'll be flying to California for a friend's wedding tonight while the debate is ongoing. So I'm asking you, the loyal readers of the Conservative Wahoo, to "LIVE BLOG" the debate in this thread! Open a cold one, fire up the laptop, and provide in-stream commentary while the debate is on. What lines were good? Which were terrible? Was our man on tonight? Did Senator Obama's FOUR DAYS of camp help him prepare?
I'll take a look at how it went once I arrive at my hotel in California, at about 1:00 AM their time....
I'll take a look at how it went once I arrive at my hotel in California, at about 1:00 AM their time....
Thursday, September 25, 2008
True Cost of the Bail-out
Robert Samuelson's column this morning is a must read for those who think that the bail-out's cost is a deal-breaker. I've been saying for days that the cost estimates don't take the fact that the government could then turn around and SELL the assets it acquires when the market improves. Samuelson provides expert support.
Wednesday, September 24, 2008
On Modern Dating
Many of you know that before getting engaged to the Kitten, I had a modestly active dating life for about 15 years. During that time, I came to see the personal computer as my best friend in the pursuit of feminine company...here it was, the great playing field leveler! You see, I'm not the tallest, most athletic, or best looking fellow. I certainly wasn't making a butt ton of money as a naval officer (money being yet another leveler). But I could write. I could craft personal statements designed to maximize my opportunities with the kinds of women I wanted to meet, and better yet, who might actually want to meet me. My writing and the exposure granted by the internet were a perfect match
At times, I would read other guy's profiles to see what the competition was up to. It was always an exercise in literary ego stroking. Yes, yes, they had rippling muscles, they ice-climbed and bungee-cycled....but they couldn't write! Their prose was flat, they did not know how to romance a woman's mind. Whatever modest success I enjoyed on the dating scene was largely attributable to the foot in the door I was granted by internet dating.
It seems now that my decision to settle in with the Kitten was a good one. My competitive advantage is gone, gone forever. A new market of scribbler takes to the scene in order to help clueless, knuckledragging eco-trekkers rise to my level of internet poetry. DAMN THE UNFAIRNESS! I know there are schlubby 5'7" guys across the country who will have a little less spring in their step today, knowing that the internet will soon be just another crowded bar with inattentive women and bartenders who can't see them.
At times, I would read other guy's profiles to see what the competition was up to. It was always an exercise in literary ego stroking. Yes, yes, they had rippling muscles, they ice-climbed and bungee-cycled....but they couldn't write! Their prose was flat, they did not know how to romance a woman's mind. Whatever modest success I enjoyed on the dating scene was largely attributable to the foot in the door I was granted by internet dating.
It seems now that my decision to settle in with the Kitten was a good one. My competitive advantage is gone, gone forever. A new market of scribbler takes to the scene in order to help clueless, knuckledragging eco-trekkers rise to my level of internet poetry. DAMN THE UNFAIRNESS! I know there are schlubby 5'7" guys across the country who will have a little less spring in their step today, knowing that the internet will soon be just another crowded bar with inattentive women and bartenders who can't see them.
Tuesday, September 23, 2008
On California
I am once again on a business trip to California, the South Bay Area to be exact. This is where my boss and my boss's boss are headquartered, and I am their manservant in DC. I very much like the arrangement, as you might imagine.
I realize that taxes are high here, and that it is after all, California. And I further recognize that I am staying the night in a hotel not far from an area of great tectonic instability. That said, this part of the country is ridiculously beautiful. Mountains in full view to the east, the ocean to the west, sunny skies virtually all the time, and an amazing climate.
Were I forced to, I could live very happily here.
I realize that taxes are high here, and that it is after all, California. And I further recognize that I am staying the night in a hotel not far from an area of great tectonic instability. That said, this part of the country is ridiculously beautiful. Mountains in full view to the east, the ocean to the west, sunny skies virtually all the time, and an amazing climate.
Were I forced to, I could live very happily here.
On the Bailout
A few thoughts come to mind:
1. The price tag of $700B seems preposterously high, but I think it represents the total debt the government is willing to assume. What it doesn't seem to assume is that when housing prices rise, the government SHOULD be able to sell some of these properties/mortgages and get some of this money back. I don't hear this addressed much. Am I off base?
2. This scares me to say, but I agree with Chuck Shumer on something. Rather than sign up for the whole enchilada ($700B), why not sign up for portions of it, say on a month to month basis?
3. I do think some of Sebastian Mallaby's thoughts are worthy of merit, especially some kind of restriction on firms' ability to declare dividends if they take the money...dividends represent shareholder return that is NOT reinvested/used to retire long term debt. No firm taking US government money to remove bad debt from its books should be able to declare a dividend for a year.
4. I believe that Henry Paulson and Ben Bernanke are adults...and adults are what we need right now to get this ship into the center of the channel.
1. The price tag of $700B seems preposterously high, but I think it represents the total debt the government is willing to assume. What it doesn't seem to assume is that when housing prices rise, the government SHOULD be able to sell some of these properties/mortgages and get some of this money back. I don't hear this addressed much. Am I off base?
2. This scares me to say, but I agree with Chuck Shumer on something. Rather than sign up for the whole enchilada ($700B), why not sign up for portions of it, say on a month to month basis?
3. I do think some of Sebastian Mallaby's thoughts are worthy of merit, especially some kind of restriction on firms' ability to declare dividends if they take the money...dividends represent shareholder return that is NOT reinvested/used to retire long term debt. No firm taking US government money to remove bad debt from its books should be able to declare a dividend for a year.
4. I believe that Henry Paulson and Ben Bernanke are adults...and adults are what we need right now to get this ship into the center of the channel.
The Russians are Coming!
From today's WaPost:
"Squadron Leaves Port, Bound for Venezuela
A Russian navy squadron set off for Venezuela on Monday, an official said, in a deployment of military power to the Western Hemisphere unseen since the Cold War.
The nuclear-powered Peter the Great cruiser, accompanied by three other ships, sailed from the Northern Fleet's base of Severomorsk, Russian navy spokesman Igor Dygalo said. The ships will cover about 15,000 nautical miles to conduct joint maneuvers with the Venezuelan navy, he said."
Say what you will about the relevance of seapower, but it does my former strategists heart good to see that stories like this are of interest. The movement of fleets is a statement like no other a nation can make, short of armed invasion. That the world's oceans are free for the use of all makes them a highway upon which nations compete for influence. A nation seeking to signal/influence/persuade can do little with its land forces; yet it can create much interest with a deployment of its fleet.
Naval officers like to think that they are greater strategic thinkers than their compatriots in the other services (though I would wager that Army officers actually study strategy and talk about it much more). This is partially a reflection of the diplomatic nature of naval duty, representing the government and the American people wherever the flag is brought. More importantly though, I think it is because we routinely traverse the earth's surface in our operations, moving from geopolitical situation to geopolitical situation. We do not "hunker down" in places for long periods of time, though the repetitive deployments to the Persian Gulf from 1990-2003 seemed to resemble it.
If I know my Navy, this deployment of Russian ships has been well studied and planned for, and highly classified guidance has been created, vetted with the Geographic Commanders and distributed to our Naval commanders. The Russian fleet is likely to traverse the areas of responsibility of three separate numbered fleets...the 6th (Med/Eastlant), the 2nd (Westlant) and the 4th (Carib). A highly sophisticated series of information operations, surveillance operations, and influence operations---coordinated across the breadth of this Russian fleet's travels--will greet them as they sail.
The Russian Fleet is a shadow of its former self, and it may turn out that our most effective Naval response will be to pay it no heed at all. But I assure you, if that course of action is chosen, it will have been after a great deal of discussion.
"Squadron Leaves Port, Bound for Venezuela
A Russian navy squadron set off for Venezuela on Monday, an official said, in a deployment of military power to the Western Hemisphere unseen since the Cold War.
The nuclear-powered Peter the Great cruiser, accompanied by three other ships, sailed from the Northern Fleet's base of Severomorsk, Russian navy spokesman Igor Dygalo said. The ships will cover about 15,000 nautical miles to conduct joint maneuvers with the Venezuelan navy, he said."
Say what you will about the relevance of seapower, but it does my former strategists heart good to see that stories like this are of interest. The movement of fleets is a statement like no other a nation can make, short of armed invasion. That the world's oceans are free for the use of all makes them a highway upon which nations compete for influence. A nation seeking to signal/influence/persuade can do little with its land forces; yet it can create much interest with a deployment of its fleet.
Naval officers like to think that they are greater strategic thinkers than their compatriots in the other services (though I would wager that Army officers actually study strategy and talk about it much more). This is partially a reflection of the diplomatic nature of naval duty, representing the government and the American people wherever the flag is brought. More importantly though, I think it is because we routinely traverse the earth's surface in our operations, moving from geopolitical situation to geopolitical situation. We do not "hunker down" in places for long periods of time, though the repetitive deployments to the Persian Gulf from 1990-2003 seemed to resemble it.
If I know my Navy, this deployment of Russian ships has been well studied and planned for, and highly classified guidance has been created, vetted with the Geographic Commanders and distributed to our Naval commanders. The Russian fleet is likely to traverse the areas of responsibility of three separate numbered fleets...the 6th (Med/Eastlant), the 2nd (Westlant) and the 4th (Carib). A highly sophisticated series of information operations, surveillance operations, and influence operations---coordinated across the breadth of this Russian fleet's travels--will greet them as they sail.
The Russian Fleet is a shadow of its former self, and it may turn out that our most effective Naval response will be to pay it no heed at all. But I assure you, if that course of action is chosen, it will have been after a great deal of discussion.
Monday, September 22, 2008
Maybe Ruth Marcus isn't Completely in the Tank for Obama....
I'm not sure that before today I've read anything Ruth Marcus has written with which I have agreed. Previously a "reporter" for the Post and now an editorial writer, she is predictably liberal and predictably pro-Democrat (natch). That said, she does yeoman duty today in exposing some of Barack Obama's recent campaign commercial whoppers. You don't see much of this from the Post, and especially not from Ruth Marcus.
Who is to Blame? VDH gets it right
I reprint Victor Davis Hanson's entry from today's "Corner" blog at National Review in its entirety. VDH is one of my favorite thinkers.
"In the sudden rush to blame the crooks in DC and on Wall Street, we should first take a long look in the mirror. For two decades, we — as in we Americans — expected to buy homes, flip them, and walk away with thousands — without much thought about what might happen to the johnny-come-lately at the bottom of the pyramid when the game was finally up and housing prices cooled or crashed. Walking away from a mortgage on a house with negative equity was "smart;" putting someone in one who had no ability to come up with a down payment, monthly payments, taxes, and maintenance was "fair"; borrowing unduly against equity for cash expenditures was "understandable."
We deified the masters of hedge funds, derivatives, and subprime mortgages, forgetting that passé oil production, mining, farming, manufacturing, engineering and construction were the real sources of our material wealth.
We assumed mega-returns on our portfolios, without a thought what Wall Street did to get them, or the effect on others who needed to borrow at such high interest to run their businessess.
Ours became a culture that wanted larger cars but less drilling to fuel them, more stuff and more credit from — and more anger at — the Chinese; less taxes but even more government hand-outs; ever more electricity, but fewer icky coal and nuclear plants — and always more health-care, education-care, prescription drug-care, housing-care, and always less care how to pay for it.
So by all means let us prosecute the lawbreakers, finger-point at the enablers, lecture the stupid, but at least spare us the sanctimonious "they" did this to poor "us." If there were not a Senate Banking Chairman like Chris Dodd without shame cozing up to the creeps at Freddie Mac and Fannie Mae, or a Richard Fuld playing casino roulette with someone else's money, we would have had to invent them.
We should argue over the course of Paulson's unpleasant chemotherapy to deal with these symptoms of a metastasizing disease, but let us at least consider what were the catalysts for that deeper cancer."
"In the sudden rush to blame the crooks in DC and on Wall Street, we should first take a long look in the mirror. For two decades, we — as in we Americans — expected to buy homes, flip them, and walk away with thousands — without much thought about what might happen to the johnny-come-lately at the bottom of the pyramid when the game was finally up and housing prices cooled or crashed. Walking away from a mortgage on a house with negative equity was "smart;" putting someone in one who had no ability to come up with a down payment, monthly payments, taxes, and maintenance was "fair"; borrowing unduly against equity for cash expenditures was "understandable."
We deified the masters of hedge funds, derivatives, and subprime mortgages, forgetting that passé oil production, mining, farming, manufacturing, engineering and construction were the real sources of our material wealth.
We assumed mega-returns on our portfolios, without a thought what Wall Street did to get them, or the effect on others who needed to borrow at such high interest to run their businessess.
Ours became a culture that wanted larger cars but less drilling to fuel them, more stuff and more credit from — and more anger at — the Chinese; less taxes but even more government hand-outs; ever more electricity, but fewer icky coal and nuclear plants — and always more health-care, education-care, prescription drug-care, housing-care, and always less care how to pay for it.
So by all means let us prosecute the lawbreakers, finger-point at the enablers, lecture the stupid, but at least spare us the sanctimonious "they" did this to poor "us." If there were not a Senate Banking Chairman like Chris Dodd without shame cozing up to the creeps at Freddie Mac and Fannie Mae, or a Richard Fuld playing casino roulette with someone else's money, we would have had to invent them.
We should argue over the course of Paulson's unpleasant chemotherapy to deal with these symptoms of a metastasizing disease, but let us at least consider what were the catalysts for that deeper cancer."
Sunday, September 21, 2008
Some Site Stats
We're just a few months old, but we recently celebrated our 1000th "absolute unique visitor" (we're up to 1052 now) from 37 different countries around the world.
In the sponsorship department, your clicks to my sponsors have resulted in a whopping $15.75 being banked at the Google Deathstar awaiting the $100 mark before my first check gets cut. Keep up the great work and enable my career change to full-time blogger!
In the sponsorship department, your clicks to my sponsors have resulted in a whopping $15.75 being banked at the Google Deathstar awaiting the $100 mark before my first check gets cut. Keep up the great work and enable my career change to full-time blogger!
Obama's 60 Minutes Interview
I'm watching Senator Obama's interview with Steve Croft on 60 minutes right now, and I am trying to look objectively at Barack Obama as a man who could potentially be my President (and yours!).
I thought about the Democrats who have run for President since I became a thinking political being: Jimmy Carter, Walter Mondale, Mike Dukakis, Bill Clinton, Al Gore, and John Kerry--and I wondered where he fit in terms of my confidence in his ability to lead the country.
The plain truth of the matter is that he stands behind only Bill Clinton in terms of my innate sense of confidence in him. One of the reasons he is doing as well as he is in this race is that he comes across as serious, responsible, and tough.
And I disagree with virtually everything he stands for politically.
I thought about the Democrats who have run for President since I became a thinking political being: Jimmy Carter, Walter Mondale, Mike Dukakis, Bill Clinton, Al Gore, and John Kerry--and I wondered where he fit in terms of my confidence in his ability to lead the country.
The plain truth of the matter is that he stands behind only Bill Clinton in terms of my innate sense of confidence in him. One of the reasons he is doing as well as he is in this race is that he comes across as serious, responsible, and tough.
And I disagree with virtually everything he stands for politically.
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