Greenspan's joviality revisited

From the Forex news of 7/30/04, commenting on the soft Gross Domestic Product report today:

Despite the incompleteness of the advanced GDP report, the figures offer a sobering account of the softening in economic activity as consumers feel the impact of escalating oil prices and fading tax stimulus. The report should prod market participants to reassess Greenspan’s jovial appraisal of the US economy, upon which the recent dollar rally was largely founded. While this will not bar the Fed from raising rates, it means softer growth ahead, which is a negative combination of the economy and the dollar.

Kerry, Kerry, Kerry

I just watched John Kerry's acceptance speech at the Democratic Convention.  He was superb in both delivery and content. Yeah, he said some things I didn't like, but not many and not without equivocation.  I rated his performance--and that was what it was, a performance--an "A" and I'm going to support him, if not wholeheartedly at least half-heartedly.     

I'm enjoying contemplating the discomfiture that Karl Rove must be feeling tonight.

It's the lack of wage growth, stupid

The profits of corporations are soaring, while federal income taxes on them and on wealthy individuals (whose income--capital gains from stock and realty ownership, dividends, interest--aren't largely derived from sources that are subject to the onerous payroll taxes) are declining.
Meanwhile, the wages of middle class Americans aren't growing at all, and are in fact declining in real terms, when measured against rising inflation.
This factor, it is to be noted, is further reflected in the components of the cost of production. As can be seen, the wage factor has remained flat, with all increases of employee costs being caused not by wage increases but by higher costs of benefits, which means, of course, increased payments to insurance companies and HMOs.
This is what the Democrats are calling the "wage squeeze," and it's not just political rhetoric. Borrowing, not just on second-mortgages but on credit cards, is at an all-time high.  For the vast majority of American wage-earners, the impossibility of meeting rising debt obligations with flat incomes, is a sad, stark reality.  It's this message I hope Kerry hammers on in his speech at the Democratic Convention in a few minutes. 

Anybody but Bush?

Yeah, despite the troubling (deeply troubling) allegations of this article in CounterPunch, I'm supporting Kerry. I gotta tell ya, though, Kerry could be as big a fraud as Bush/Cheney, and his international politics aren't much better.

Maybe he's a bastard. But he's our bastard.

Uh, oh

"A cauldron of violence." That's how some describe what Iraq will turn into if neighboring arabic nations send forces to assist that country's "security." Can you imagine troops from France, Mozambique and Korea standing on our street corners, enforcing a curfew in, say, South Central LA?

More than abuse, more than torture

Too bad there weren't cameras rolling when our soldiers tossed this Iraqi off a bridge to his death. Apparently, unless somebody has a cameraphone handy, murder doesn't make the news.

Trying my patience

I've been watching the Democratic Convention and CNN's interviews with politicians in the aftermath of Wednesday's speeches. I'm watching Lieberman and Biden and other standard politicians spin their positions, with a sickening effect.

I hate this. I'm going to hold my nose bigtime to support this ticket, and maybe hold other parts of my anatomy too.

Democracy in the "New Iraq"

The interim PM of Iraq has created a commission to approve news media restrictions, and to censor newscasts from Iraq.

This completes the outrage. No WMD's; no more Saddam; and now, no democracy in Iraq. We've now officially run out of reasons for subjecting our soldiers to death and injury in Iraq. They've now just become Allawi's Gestapo.

Now, wait a little doggone minute

As I understand it, the federal court decision upholding the restriction of demonstrators to a pre-selected "protest area" at the Democratic convention in Boston was reluctant, and based solely on the over-riding concern about "security."

I don't agree with that decision, of course, but it surely doesn't authorize the removal of a sign-carrying demonstrator from the convention floor itself. The demonstrator was a certified delegate, a former candidate for vice-president on the Green Party ticket, I believe. Her removal was based on the content of her message, not because of "security" considerations. Mayor Daley would be proud.

On the road

I've been up in the Sierra Nevadas for the last several days, to return to SB later this week. I must say, being out of touch with the craziness that's going on in the world is, to say the least, pleasant.

I'll return to the unpleasantness soon.

Rumors not abounding after all

The story about Alawi's summary execution of prisoners hasn't been picked up by the US media, notes a Pakistan paper.

Newsweek Online buries the story in a "tough guy" evaluation of Allawi. Doesn't this piece make the US product of democracy in Iraq sound hauntingly like the US installation of a puppet, tough-guy dictator who owes his existence and wellbeing to US support?

A legitimate question

These Iraqi prisoners have a legitimate question, don't they? If their country has "full sovereignty" why can't they have access to Iraqi courts?

Verrry interesting

A Sunni cleric declares Jihad against American soldiers, calling on his followers to drive them out of Iraq.

Does Allawi, the interim PM, concur in the US troops taking action against the cleric? Would he do so, since the cleric is the same religion, a Sunni, as the PM. Or does he allow the cleric's fiat to stand? If so, what does Rummi do when one of his troops is killed?

Correction: Allawi is a Shiite, which may explain why he's so agreeable to repeated US attacks on Fallujah, a Sunni-dominated city. The latest attack killed 14 persons, injured scores, and was described by the US authorities as being a targeted strike on insurgent forces, while the Sunni mayor of Fallujah said it killed only policemen who'd been trained by the US to take over security in the city after the US marines withdrew in May.

What a nightmare.

Rumors abounding?

This report by a reputable Australian daily, complete with names and dates, sure sounds like more than a "rumor," as the US ambassador to Iraq has called it. And if it's true, it confirms that our puppet PM in Iraq is a cold-blooded murderer.

The last gimmick

It looks like the Bush "economic recovery" is over. The last gimmick, the supposed tax rebate (actually, just tax-refund checks that are more than overborne by increases in other family expenses) has dissipated; the debt-inducing low interest rates on home refinances are sliding upward; and personal credit-card indebtedness is maxed out and also subject to increasing rates. Bush has therefore run out of the unreality-based economic gadgets and is now left with this reality: He's spending money on arms and on security like there's no tomorrow (pun intended); he's cut taxes on corporations and on individuals to the bone; he's chopped all he can from federal programs; and guess what: The US is broke and can't get foreign governments to lend us the trillions we need any more.

So, with 100 days left before the election, Bush is left with only this prayer: Oh please don't let the bubble burst as soon as it's likely to.

Michael Moore

I'm watching CNN's analysis of the effect of Fahrenheit 911 on the presidential race and I forgot this statistic. While only 8% of likely voters, says a CNN poll, have so far seen the movie in a theater, and these are apparently mostly "the faithful," there's another large percent who plan to see it soon and an even larger percent who plan to rent it when it goes to DVD, which will happen in about six weeks, just in time for the Republican convention. According to CNN, the total of these percentages is 56%, which happens to nearly total the non-Bush-base of voters.

Good timing, Michael.

Bush defends war

Bush said:, "Because the Libyan government saw the seriousness of the civilized world, and correctly judged its own interests, the American people are safer."

Now he's saying that war in Iraq was good, because it showed other countries that we're serious. He is exactly the kind of bully we've been saying he is, all along. Unbelievable.

Here's a new one

Erik has addressed the possibilities of an October Surprise and that Bush may replace Cheney on the ticket. I suppose there are any number of ways that they could throw some shit in the game, so to speak. But here's one I've never considered. According to the BBC, the cabal is looking at the possibility of postponing the election altogether, if we're attacked. In other words, does this mean another Al-Queda attack would be politically convenient for the incumbants?

The plot thickens, huh?

Yeah, I'm a whore

My concurence with this piece in the LA Times, added to my confession in a previous post (John-John vs. Bush-Dick, July 7), completes my abdication (for limited purposes) of my rad/lib credentials. I fear/despise Bush/Cheney so much that I don't care what Kerry/Edwards do or say between now and November 2. They've got my support and my activism as fervently as do Bush/Cheney retain the support of true conservatives, who, despite their misgivings about the administration's neocon madness are, like me, going to "hold their noses while voting."

How Kerry/Edwards can win in a landslide

Soros and Ted Turner pool some serious money to stage a massive Nascar event during the entire day of Tuesday, 11/2/04, perhaps calling it the Election Day Special> Sponsor: Budweiser, of course. The telecast of the event ends at 5:30 and is followed immediately by a second telecast entitled, "World Series of Female Mudwrestling," or something, that lasts until the polls are closed in all states except those in the Pacific Time Zone (which, I think, are Democratic "safe" states).

Seriously, in my months of marching and demonstrating, I've noted nothing remarkable about the demographics of fervent Bush/Cheney supporters, but I've noted how remarkably solid they are, almost absolute: Thirty-plus to forty-plus white males driving powerful, large vehicles.

So, we liberals merely spend the few millions required to immobilize these men on election day. And the grand immobilizer? TV, of course. And the fodder on the tube? Nascar and mudwrestling.

I'm open to refinement, of course. But I really think I'm on to something here.