Update from the Heartland
No.564
1.10.12 – 7.10.12
Blog version: http://heartlandupdate.blogspot.com/
To all,
Like many Americans, I watched the first presidential debate
on Wednesday evening at the University of Denver (Colorado). A one word, short descriptor –
disappointing. Yet, politicians
are what they are. Both men were
loosey goosey with the “facts,” and both men chanted their political, parochial
mantras in the true Goebbels fashion, expecting their phrases to become fact by
their repetitive utterance. The
disappointing aspects aside, President Obama displayed clear, obvious signs of
no primary rigor or preparation, as well as an uncharacteristic awkwardness
that amplified my disappointment.
The principle thread was the economy. As one network commentator noted, no president since
Franklin Roosevelt has been re-elected with an August unemployment rate this
high (8.1%). To be candid, I erroneously
thought “W” was a fiscal conservative, and he failed miserably to restrain
spending; it was six long years before he vetoed his first bill and that was
not even for spending. I see no
reason to believe either candidate will restrain spending; the only difference
between them is on what they spend money the Treasury does not have. As a side note, Jim Lehrer tried
mightily to guide the two mighty egos before him, but I must admit his best
days are behind him. I did note
Governor Romney’s repeated use of variations of the word “crush,” given to him
by Vice President Biden. While
Romney’s usage tapped the inherent emotional content, he failed to acknowledge
the contributions of both parties, in both elected branches, to that reality
state for many Americans. Perhaps
President Obama seriously underestimated Governor Romney. Frankly, the highlight of the debate
was the “Lincoln” movie trailer after the debate. The Steven Spielberg movie trailer was a masterful placement
of that advertisement. I want to
see the movie. I am not so sure
about the election.
“Spain and Greece Are Being Forced to Suffer to Save Germany
From High Inflation”
by Dean Baker
Published: Monday, 01 October 2012; 10:28
This is liberal or rather socialist insanity in the
extreme. This is nothing short of
national blackmail and extortion.
Greece, Spain and others chose to borrow and spend without considering
the consequences. Now, the bill is
due, and they expect Germany to bail them out.
News from
the economic front:
-- The State of New York filed a civil complaint against
J.P. Morgan Chase, alleging widespread fraud in the sale of mortgage-backed
securities prior to the financial meltdown in 2008 – the first case brought
under a federal law-enforcement group created by President Obama in January to
pursue alleged wrongdoing related to the financial crisis.
-- The European Central Bank (ECB) kept its main refinancing
rate at its historic low level (0.75%), reflecting the bank’s ongoing concern
about the eurozone’s poor outlook for growth. The ECB also indicated no country has yet applied for the
ECB’s Outright Monetary Transactions (OMT). Europe is a long way from out of the woods.
-- The Labor Department reported the economy added 114,000
jobs in September – a rather modest but nonetheless welcome change. In another positive sign, employment
growth for August was revised upward to 142,000 from the previously reported
96,000. In a separate survey, the
unemployment rate dropped to 7.8% – the lowest since President Obama took the
oath of office. Of course, the
pundits so inclined have been screaming fraud, which I believe is plain ol’
political yammering. Let us not
forget the financial collapse and Great Recession began during the Bush
administration.
Comments and contributions from Update no.563:
Comment to the Blog:
“[Please keep my paragraph breaks. They are important to
clear writing.]
“I agree with you and Leonard Pitts as far as Pitts’
analysis of Muslim response to the anti-Islamic movie Innocence of Muslims. However, Newt Gingrich’s suggestion, endorsed
by Mr. Pitts, that the USA (presumably, some part of it) should use this incident
to “teach the Muslim world about freedom” does not follow.
“First of all, ‘the Muslim world’ is not our student. They
do not seek to learn from us. Indeed, we are the last source they would use as
a teacher.
“Second, their lesson from either the attack in Benghazi or
this posting would be that freedom is a disadvantage for the
majority/mainstream opinion, as Mr. Pitts points out clearly with the example
of the nasty Phelpses picketing soldiers’ funerals. Outsiders cannot be
expected to understand that as a positive thing. You go on to point out that we
do not punish lying in matters of high honor. From the viewpoint of those who
do not have a prior high value on freedom, you have simply pointed out how weak
“freedom” makes the USA. You would do far better to point out the important
results of academic freedom, the ways the civil rights movement has benefitted
the USA as a whole or other reasons we all benefit from freedom rather than
focus on the unwelcome but necessary features. To draw an analogy, your writing
reads as if automobiles are welcome because of pollution and accidents rather
than because of their speed and flexibility in transporting us.
“As far as the economic news, I have come to believe that
far too many figures are available. The many attempts to predict the future
merely cloud the picture, which benefits the bold manipulator rather than the
honest investor. My father survived the Great Depression as an adult. He
pointed out every so often, ‘Figures don’t lie, but liars figure.’ The LIBOR
situation is an excellent example of that.”
My response to the
Blog:
[I
try. My apologies if I
misfired. I am not flawless.]
Re:
teaching. Well, actually, I think
teaching in fact does follow precisely.
Freedom is about choice. I
do not know what Gingrich or Pitts considers as teaching freedom. However, to me, it is individual and
collective freedom of choice and respect for the choices of others. It matters not what choices others make
in freedom as long as their choices respect mine and do not injure others. I interpreted Pitts in that context,
not some parochial imposition on the un-anointed.
Re:
Muslim world. Indeed, they are not
our students. I will certainly
respect their choices, if they respect mine.
Re:
lessons. I surmise from your reply
that you see a hegemonic intention here, that the United States seeks to impose
our values, our system of governance on others. If so, I do not believe that is correct. Again, if the Afghanis freely choose
the dictatorial theocracy of the Taliban, then I say, good for them, godspeed
and following winds. My
understanding of history tells me the Afghanis did not freely choose the Taliban. Also, the Taliban chose to harbor
al-Qa’ida, knowing full well the Arabs were a fascist element seeking to impose
their will upon others and they were intent upon projection of their hatred to
the Great Satan. That is where
they crossed the line. That is
also where education regarding the power of freedom and the need to protect it
comes into play. I think your
analogy is misapplied.
My very best wishes to all. Take care of yourselves and each other.
Cheers,
Cap :-)
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