The Latest

Did America’s Credit Line Get Cut?

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"Did America hang itself with Asian rope?" A Financial Times correspondent put the question to a Chinese official. "Quick as a flash, he responded: 'No. It drowned itself in Asian liquidity.'”   "In one sense, this is a story of Asian prudence versus US recklessness. By accumulating vast savings – China and Japan alone boast 40 per cent of global central bank reserves – Asians have lived below their means so that Americans could live beyond theirs. Asia bankrolled US budget and trade deficits and provided the cash for banks and individuals to go on a spending spree and for Washington to fight wars in Afghanistan and Iraq."  Nice party some people had, promising our childrens' future, individually and collectively, in exchange.  But suddenly, there is no money in the United States.  Where did it all go?  And why now?

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Betcha By Golly Wow (AKA The Annoy Hilton)

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IFILL: Would you like to have an opportunity to answer that before we move on?

PALIN: I'm still on the tax thing because I want to correct you on that again. And I want to let you know what I did as a mayor and as a governor. And I may not answer the questions that either the moderator or you want to hear, but I'm going to talk straight to the American people and let them know my track record also.

They say a nod’s as good as a wink to a blind moose, but watching Future Vice President Dipstick's drag queen pantomime of the GOP version of populism last night made me wonder if the wrong Republican had been the POW.

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Il Duce, King Lear, Caligula, Etc.

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Sometimes, reading the newspaper, I wonder if Mayor Bloomberg is reading this blog. Several months ago I wrote the United States of America is about ready for an Il Duce, and beginning in New York City (but not ending there), we will have one. Many people seem to be saying that as long as someone promises that they don’t have to pay more, or accept less, for themselves today, they don’t care about the future, or about democracy. My tongue-in-cheek suggestion that rather than giving non-citizens the vote, as some have proposed, they should be allowed to exchange the right to vote with American citizens who can’t be bothered and don’t want to serve jury duty, makes more sense every day. And when the promise of something for nothing can no longer be met, even for the limited number of people who matter, the result will not be competitive elections, which do not exist, no matter what the New York Times likes to pretend. The Times editorial board apparently prefers the hope of a Good Tzar to elections anyway, I doubt it will have the honesty to admit. What is left of citizen participation is going extra-electoral, perhaps extra legal. Protest is all that is left.

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Why the format doesn’t matter (AKA Vice Presidents Don’t Wear Plaid)

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A lot of hue and cry has been raised about the format of tonight’s Vice Presidential debate, specifically about the brevity of the answers and the lack of follow-up questions.

Pish-tosh says I.

Forcing concision on both Joe Biden and Sarah Palin cuts both ways, since hearing more of Palin generally subtracts, rather than adds, to the sum total of the world's knowledge, while cutting off Joe Biden’s amount of words is often somewhat analogous to limiting the supply of rope to someone who is chronically depressed.

Most importantly, follow-up questions serve no useful purpose in explicating the thoughts of Sarah Palin, who usually has run out of things to say on the first go-round and then just endlessly repeats her buzzwords without any form or substance until one cries uncle.

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Masters of the Universe Unite

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http://news.aol.com/story/_a/prominent-nyers-run-ad-supporting/n20081002112009990012

 

NEW YORK (AP) – A group of prominent New Yorkers has taken out an ad calling on the City Council to change the term-limits law so Mayor Michael Bloomberg could run again.

The group – including Henry Kissinger and JPMorgan Chase & Co. chief executive James Dimon – lavishly praises Bloomberg, but stops short of an outright endorsement of a third term for him.

The newspaper ad notes Bloomberg's accomplishments in his six years in office and says they are at risk because of the nation's financial crisis.

The ad urges the council to extend the term-limits law to allow more than two four-year terms "in order to give New Yorkers the opportunity to vote for whomever they think can do the best job during these though economic times, including our current mayor."

Among those signing the open letter are Goldman Sachs chairman and CEO Lloyd Blankfein, real estate and publishing magnate Mortimer Zuckerman and a number of other of the city's real estate and financial executives.

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“SAY IT AINT SO MIKE: SAY IT AINT SO”

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NYC Mayor Michael Bloomberg had been somewhat coy of late, as questions swirled about the overturning of the city’s term limits law. This uncharacteristic reluctance -on Bloomberg’s part- to verbally engage the issue lately, led many to speculate that the fix was in to overturn term limits: the will of the people, twice expressed via referendum. Well; it sure was. Today, the mayor announced that he will support a change in the law, which -for elected officials- will extend the limit from eight years to twelve.

This is the same mayor, who once deemed “disgusting”, any attempt to overturn this law without going back to the voters via referendum. This is the same mayor, who has expressed many a time and over again, that the voters of New York City have spoken on this issue: twice. Now he will seek a third term; after saying umpteen times that he will not. Didn’t he say that he was riding off into the land of philanthropy, after his term ended on December 31st, 2009? Didn’t he publicly say this at least a dozen times already? It looks like Mike Bloomberg may be evolving into another duplicitous politician inebriated by political power: right before our unbelieving eyes.

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Hippocrates or Hypocrisy?

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Many blame the Republicans for the failure of the distasteful, but necessary, Bush Bailout the other day in the House. And surely, those spineless weasels deserve whatever blame they got. “We would have stood tall like real men, but Nancy Pelosi made fun of our penis size and we just couldn’t get it up.”

OK fuckers, find just one Republican member of Congress who will admit that’s what caused his change of heart. Just one.

It would be easier to get Sarah Palin to admit to Katie that she wants to incarcerate doctors or ban the morning-after pill; or to get Palin to admit she doesn’t want to incarcerate doctors or ban the morning-after pill.

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Avoiding Even the Appearance of Hypocrisy

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One would think that in this day and age, political party organizations would go out of their way to avoid the appearance of impropriety, if not actual impropriety itself.

One would be proven wrong. At least in Brooklyn.

I’ve just gotten my hands on a questionnaire sent out by the Party to prospective candidates for Brooklyn Borough President. The questionnaire includes a section on “Land Use”. The section notes that “Borough Presidents appoint representatives to local community boards and the City Planning commission, which vote on land use and zoning actions under the NYC Uniform Land Use Review Procedure.”

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Going Bi

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“John McCain listened to all sides so he could help focus the debate on finding a bipartisan resolution that is in the interest of taxpayers and homeowners. The Democratic interests stood together in opposition to an agreement that would accommodate additional taxpayer protections"—Statement by the McCain campaign.

It’s a funny kind of bi-partisanship that depends upon demonizing the people you’re purportedly committed to working together with. McCain may be extending his hand and reaching across the aisle, but the hand doing the reaching is grasping a baseball bat.

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“High Noon” or “Horsefeathers”?

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Perhaps I’d underestimated John McCain.

Yesterday, I made fun of McCain's “suspending” his campaign until Congress passed some sort of plan to address the meltdown of our markets. At the time McCain made his announcement, Congress seemed poise to pass a flawed plan which bore some resemblance to the even more flawed proposal put forward by the President.

As negotiations proceeded, leaders from both parties announced that a piece of the action was at hand. Robert Bennett, the ranking Republican on the Senate Banking Committee said “I now expect we will indeed have a plan that can pass the House, pass the Senate, be signed by the president." Calling it “one of the most productive sessions”  he'd ever seen, Bennett said “we focused on solving the problem, rather than posturing politically.”

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