Month: September 2008

Private profits, public losses

There are so many bottom lines to the credit crisis, but for myself the bottom line is we’re seeing what happens with an ideology of “the market rules, so don’t rule the market.” A friend wrote today, commenting on all of the government bail-outs:

I wish someone would point out that this means the GOP is moving toward a socialist model. When they rant and rave about the horrors of socialism (in medicine), they need to understand what they’re talking about.

Ex-actly. In the ultimate irony, extreme capitalism has led directly to socialism, literally overnight. Bush started his second term touting a plan to privatize Social Security, and he’s ending it nationalizing Wall Street. This is not a normal business cycle downturn. It’s the result of market manipulation and a lack of oversight.

As D.F. Rogers characterizes it, this is the real trickle-down effect. The profits are kept at the top, while the losses are passed down. McCain wants to leave the tax cuts in place for the richest 1% of Americans?? At least with this latest calamity there’s some outrage. With so much tax money being ponied up, we’d better be able to impose some tough regulations and restrictions without hearing even one peep of complaint from the brokers.

A TRILLION dollars for Iraq. HUNDREDS OF BILLIONS for Wall Street. Why would anyone vote for the old white guy and the monster hockey mom?

McCain’s campaign of whiners

John McCain’s campaign is now piling on more misrepresentation. According to the Boston Globe…

The McCain campaign yesterday launched an ad that questioned Obama’s ability to deal with the crisis. Obama has “no background in economics,” the ad said. It quoted the Washington Post as saying that Franklin Raines, a former top executive of Fannie Mae, had advised the Obama campaign on housing and mortgage issues. The ad then said that Fannie Mae, the quasi-government mortgage company, committed extensive fraud under Raines, who “made millions” and stuck the taxpayers with the bill.

They’re trying to make it sound as though Raines was a key policy adviser. This comes from McCain, the guy who had Phil (“nation of whiners”) Gramm as his “economic brain”!

Johnny Comet chases Al Gore

This week, Stephen Colbert talked with GM Vice Chairman Bob Lutz. He touted the new Chevy Volt, a car that is mostly electric, with a backup gas engine.

This is so bizarre, considering GM’s EV-1, the subject of the outstanding documentary, Who Killed the Electric Car?. Lutz still disputes the existence of global warming. Looking at this lunkhead, I can see why GM is destined for bankruptcy.

Johnny Comet asks, \"Where is Al Gore?\"

But what about Al Gore, who won an Oscar by educating everybody about the threat of global warming? He’s been conspicuously absent of late. Well, to my surprise, it seems he’s taking an entirely different approach to alternative automotive fuel. By chance I’ve found evidence that he’s involved with the development of an atomic carburetor!

Johnny Comet chases Al Gore

Johnny Comet chases Al Gore

Bad and loud

My ears aren’t what they once were (well, they’re bigger, just not better), but I’m bugged by the latest audio technology going backwards in sound quality. Over a year ago I talked about overcompression, and today tastewar pointed out something on Gizmodo about Metallica’s new stuff sounding better on Guitar Hero III than it does on the CD release.

Speaking of Guitar Hero, Stephen Colbert has been digitized and is available for downloading on the video game Rock Band 2.

And coming in November will be “A Colbert Christmas“, with musical guests, including Elvis Costello. Check out the pictures at that link. Looks like the pilot for “Colbert’s Playhouse”!

Schulz’s Schulz Library

Yesterday, I pointed out the Schulz Library that’s up in Vermont. But what about the books the man himself had in his studio? A sneaky visitor to the Charles M. Schulz Museum in Santa Rosa, California offers a glimpse, at this link. I wish he had provided a link to a larger, high-resolution image, but I recognize one title there that’s on my own bookshelf — Citizen Soldiers, by Stephen Ambrose.