Update from the Heartland
No.362
17.11.08 – 23.11.08
Blog version: http://heartlandupdate.blogspot.com/
No.362
17.11.08 – 23.11.08
Blog version: http://heartlandupdate.blogspot.com/
To all,
Happy Thanksgiving to all.
The follow-up news items:
-- Senator Ted Stevens of Alaska [346, 359] conceded his re-election defeat. I suspect he shall endeavor to stretch the appeal process as long as possible to avoid what appears inevitable – enjoying an all-expenses-paid stay at the hospitality of the Federal government. His defeat brings the Democrat Senate seats to 58, including the Independents. Only Georgia and Minnesota remain contested.
-- U.S. District Judge Richard J. Leon of the District of Columbia ordered the immediate release of 5 of 6 Guantánamo detainees – the petitioners in U.S. Supreme Court’s June ruling in Boumediene v. Bush [553 U.S. ___ (2008); no. 06-1195] [340] – after determining the government had insufficient evidence to prosecute. At this point, with the Obama administration to begin soon, I say let them all go, send ‘em back to the battlefield, give ‘em their guns back, and then kill ‘em properly. Does that sound too cynical?
The Gray Lady joins the bandwagon . . .
“Flunking the Electoral College”
Editorial
New York Times
Published: November 19, 2008
http://www.nytimes.com/2008/11/20/opinion/20thu1.html?th&emc=th
This Grand Republic has never been a simple majority rule democracy, for very good, sound, historic reasons. The Founders & Framers constructed a system of checks and balances, and included a division of authority with the states. The states have gradually abdicated to the Federal government, and the Federalist-leaning Supremes have conveniently ignored the 9th Amendment. Further dilution of the influence of the states will NOT serve future generations of this Grand Republic well. With respect, the New York Times is wrong!
There has been a flurry of uncharacteristic leaks on a wide range of supposed Obama cabinet, staff and agency selections. I shall refrain from speculation. Some of the candidates are quite intriguing, but I will wait for the actual nominations.
Economic news:
-- Citigroup announced worldwide work force reductions of 53,000 jobs (nearly 20% of its employees). Later in the week, rumors began circulating about the bank selling off assets to raise need funds. The banking giant appears to be the most troubled of the mega-banks. Then, on Sunday, we hear of some dramatic government rescue plan for the bank. We need to hear more.
-- The economic news is not all doom & gloom, fortunately. Hewlett-Packard (HP), the computer giant, expects 4th Quarter results to exceed expectations.
-- An opinion on the economy by Secretary of the Treasury Henry Merritt ‘Hank’ Paulson, Jr.:
“Fighting the Financial Crisis, One Challenge at a Time”
by Henry M. Paulson Jr.
New York Times
Published: November 17, 2008
-- Senator Ted Stevens of Alaska [346, 359] conceded his re-election defeat. I suspect he shall endeavor to stretch the appeal process as long as possible to avoid what appears inevitable – enjoying an all-expenses-paid stay at the hospitality of the Federal government. His defeat brings the Democrat Senate seats to 58, including the Independents. Only Georgia and Minnesota remain contested.
-- U.S. District Judge Richard J. Leon of the District of Columbia ordered the immediate release of 5 of 6 Guantánamo detainees – the petitioners in U.S. Supreme Court’s June ruling in Boumediene v. Bush [553 U.S. ___ (2008); no. 06-1195] [340] – after determining the government had insufficient evidence to prosecute. At this point, with the Obama administration to begin soon, I say let them all go, send ‘em back to the battlefield, give ‘em their guns back, and then kill ‘em properly. Does that sound too cynical?
The Gray Lady joins the bandwagon . . .
“Flunking the Electoral College”
Editorial
New York Times
Published: November 19, 2008
http://www.nytimes.com/2008/11/20/opinion/20thu1.html?th&emc=th
This Grand Republic has never been a simple majority rule democracy, for very good, sound, historic reasons. The Founders & Framers constructed a system of checks and balances, and included a division of authority with the states. The states have gradually abdicated to the Federal government, and the Federalist-leaning Supremes have conveniently ignored the 9th Amendment. Further dilution of the influence of the states will NOT serve future generations of this Grand Republic well. With respect, the New York Times is wrong!
There has been a flurry of uncharacteristic leaks on a wide range of supposed Obama cabinet, staff and agency selections. I shall refrain from speculation. Some of the candidates are quite intriguing, but I will wait for the actual nominations.
Economic news:
-- Citigroup announced worldwide work force reductions of 53,000 jobs (nearly 20% of its employees). Later in the week, rumors began circulating about the bank selling off assets to raise need funds. The banking giant appears to be the most troubled of the mega-banks. Then, on Sunday, we hear of some dramatic government rescue plan for the bank. We need to hear more.
-- The economic news is not all doom & gloom, fortunately. Hewlett-Packard (HP), the computer giant, expects 4th Quarter results to exceed expectations.
-- An opinion on the economy by Secretary of the Treasury Henry Merritt ‘Hank’ Paulson, Jr.:
“Fighting the Financial Crisis, One Challenge at a Time”
by Henry M. Paulson Jr.
New York Times
Published: November 17, 2008
http://www.nytimes.com/2008/11/18/opinion/18paulson.html?_r=1&th&emc=th
-- The U.S. Consumer Price Index (CPI) dropped 1% on a seasonally adjusted basis in October – the biggest decrease in 61 years. Home construction starts fell 4.5% on a seasonally adjusted basis. Both are measures of our contracting economy.
-- GMAC Financial Services submitted an application to become a bank-holding company and petitioned for participation in the USG’s Troubled Asset Relief Program.
-- Congress passed and the President signed into law the Unemployment Compensation Extension Act of 2008 [PL 110-449; H.R.6867, S.3507; House: 368-28-0-38 (1); Senate: cloture: 89-6-0-4 (1), passed without amendment by voice vote] to extend unemployment benefits during these troubled times.
No comments or contributions from Update no.361:
My very best wishes to all. Take care of yourselves and each other.
Cheers,
Cap :-)
-- The U.S. Consumer Price Index (CPI) dropped 1% on a seasonally adjusted basis in October – the biggest decrease in 61 years. Home construction starts fell 4.5% on a seasonally adjusted basis. Both are measures of our contracting economy.
-- GMAC Financial Services submitted an application to become a bank-holding company and petitioned for participation in the USG’s Troubled Asset Relief Program.
-- Congress passed and the President signed into law the Unemployment Compensation Extension Act of 2008 [PL 110-449; H.R.6867, S.3507; House: 368-28-0-38 (1); Senate: cloture: 89-6-0-4 (1), passed without amendment by voice vote] to extend unemployment benefits during these troubled times.
No comments or contributions from Update no.361:
My very best wishes to all. Take care of yourselves and each other.
Cheers,
Cap :-)
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