Obama won! I'm happy. America voted for a smart, decent, successful family man who just happened to be (in his own words) a mutt. Unfortunately, white America voted for the other guy and his breathtakingly inept sidekick, complemented by Joe the Plumber. This election was a watershed, but the demographics of the win tell me that America has a long way to go. That makes me sad.
Bush has one foot out the door, and those who call themselves republicans (desecrating a proud name) have less influence in congress. I'm happy. Unfortunately, eight years of benighted rule have come to a crashing conclusion. The only good thing is that the crash happened on their watch, but it is a crash par excellance! America and the world are in for a tough time because employment is fueled by spending, and there will be a lot less of that for a good while. I'm sad, but not as sad as those millions who will fall from "barely making it" to a life of despair. Remember when we trusted government to regulate and protect our economy?
The price of oil has dropped precipitously due to the economic slowdown, so it costs less to fill up my van. I'm happy. But, the falling price of oil makes alternative energy sources expensive again. Will we be so shortsighted as to slow down our conversion to green energy? If so, I'll be sad.
World leaders are circling the wagons to come up with a joint economic recovery plan. I'm happy. But, hard times have often caused countries to combat internal distress by conjuring a foreign enemy. Sadly, wars are excellent depression-fighters unless your country is unlucky enough to be on the losing side.
My four daily workplaces (Cameron Community Ministries, Pittsford Volunteer Ambulance, Christ Clarion Presbyterian Church, and Lake Avenue Baptist Church) make me happy because they are filled with optimistic people who try to love their neighbors as themselves. The down economy is going to affect them like it affects everything else. I'm sad.
In times like this one is drawn to consider the long view. Things go up, things go down, things go up. Has the earth shrunk enough that all of us people will be motivated to join hands and work out some new ways to manage how we live on it? It's getting to be that time, and I'd love to see it happen before I die.
Friday, November 07, 2008
Monday, October 27, 2008
A New "New Deal"?
I heard a piece on NPR today that described Franklin D. Roosevelt's run against Hoover in 1932. Public sentiment was so sour on republicans that virtually anyone calling himself (not herself) a democrat would have been a shoo-in for election. Consequently, Roosevelt didn't have to outline much in the way of his policy preferences during the campaign. In fact, the term "New Deal" was coined in his very last speech and the contents of the "deal" were not specified. Could this be the Obama strategy? We've not heard much detail from him, either.
So, what have we heard from Obama? His health care plan...his education plan...his energy plan...his economic plan. All pretty simple, plain vanilla, clearly "not Bush's failed plan". But the devil really is in the details. Will Obama come out slugging, democrat congress in tow, with some big ideas? Maybe. Maybe there will be a new "New Deal". But what will it be?
As the Trail Diary has been bemoaning for a long time, the United States of America is facing some really major challenges. We've got structural issues of immense proportions - giant unfunded liabilities, millions of poorly educated younger adults and children, an aging population with expectations of unlimited health care, and billions of dollars daily being sent overseas to purchase stuff we burn up. And now, horror of horrors, we need to address these issues in the midst of an economic calamity. Poor Obama!
Perhaps now is the time to turn over some really big stones, to put the cards on the table for America to look at and choose. There is no win, win, win, win solution. We're facing the age-old problem of resource allocation, guns or butter. Perhaps there are a few magic bullets, like priming the economy by building a new energy infrastructure or mobilizing an army of unemployed oldsters to tutor the young. But, there must be some big give-ups, too. And that's the rub.
Here are a few questions for your consideration. Can some public pensions and benefits be almost as outrageous as outsize Wall Street salaries? Should wealthy people get hefty medical and social security benefits? Is it really appropriate to warehouse oldsters with severe Alzheimers or dementia, treat their every medical condition with modern medicine, and watch them sit, listless and semi-comatose, for years until something big finally kills them? Should managers of large public companies be compensated like owners, even though they own little of the firms they manage? Are the laws covering personal injury and corporate liability overly tilted toward the plaintiffs, many of whom failed to exercise good judgement?
I'm hoping Obama wins "big-time", but I'm expecting him to live up to his promises for change. I want change that goes past shoveling out goodies to the poor and middle class, because doing only those things will bankrupt our country. I want structural change that will benefit our country for a century. I want a president who has the guts to lay it out, step by step, and push change through, problem by problem. If Obama can do that, he'll go on the same pedestal as Washington, Lincoln, and Roosevelt II. Go for it, Barack!
So, what have we heard from Obama? His health care plan...his education plan...his energy plan...his economic plan. All pretty simple, plain vanilla, clearly "not Bush's failed plan". But the devil really is in the details. Will Obama come out slugging, democrat congress in tow, with some big ideas? Maybe. Maybe there will be a new "New Deal". But what will it be?
As the Trail Diary has been bemoaning for a long time, the United States of America is facing some really major challenges. We've got structural issues of immense proportions - giant unfunded liabilities, millions of poorly educated younger adults and children, an aging population with expectations of unlimited health care, and billions of dollars daily being sent overseas to purchase stuff we burn up. And now, horror of horrors, we need to address these issues in the midst of an economic calamity. Poor Obama!
Perhaps now is the time to turn over some really big stones, to put the cards on the table for America to look at and choose. There is no win, win, win, win solution. We're facing the age-old problem of resource allocation, guns or butter. Perhaps there are a few magic bullets, like priming the economy by building a new energy infrastructure or mobilizing an army of unemployed oldsters to tutor the young. But, there must be some big give-ups, too. And that's the rub.
Here are a few questions for your consideration. Can some public pensions and benefits be almost as outrageous as outsize Wall Street salaries? Should wealthy people get hefty medical and social security benefits? Is it really appropriate to warehouse oldsters with severe Alzheimers or dementia, treat their every medical condition with modern medicine, and watch them sit, listless and semi-comatose, for years until something big finally kills them? Should managers of large public companies be compensated like owners, even though they own little of the firms they manage? Are the laws covering personal injury and corporate liability overly tilted toward the plaintiffs, many of whom failed to exercise good judgement?
I'm hoping Obama wins "big-time", but I'm expecting him to live up to his promises for change. I want change that goes past shoveling out goodies to the poor and middle class, because doing only those things will bankrupt our country. I want structural change that will benefit our country for a century. I want a president who has the guts to lay it out, step by step, and push change through, problem by problem. If Obama can do that, he'll go on the same pedestal as Washington, Lincoln, and Roosevelt II. Go for it, Barack!
Saturday, October 25, 2008
Did McCain Throw in the Towel?
Things have gone so badly lately for the McCain campaign that I can't but help wonder if the choice of Sarah Palin was the first sign that McCain wanted to lose this election and was going to make sure he did. Did the rigors of the campaign tell his inner muse that being president was maybe not the best idea after all? Or is he just that dumb? I don't think so.
It's not only Palin. What about the plan for the government to buy people's mortgages and then refinance them at a lesser amount and a lower interest rate? McCain expects republicans to accept this totally socialistic idea that is so over-the-top that even Obama rejects it out of hand? Not. It's just another way to make sure this election is not close.
Granted, with the economy in the tank and going south and the wars unresolved, it's hard for a republican to argue that the party deserves much support in 2008. But, with a top-flight vice president, some tough conservative rhetoric, and a few good economic planks, McCain might have had had a fighting chance to win. Seems like he took care of that problem...
It's not only Palin. What about the plan for the government to buy people's mortgages and then refinance them at a lesser amount and a lower interest rate? McCain expects republicans to accept this totally socialistic idea that is so over-the-top that even Obama rejects it out of hand? Not. It's just another way to make sure this election is not close.
Granted, with the economy in the tank and going south and the wars unresolved, it's hard for a republican to argue that the party deserves much support in 2008. But, with a top-flight vice president, some tough conservative rhetoric, and a few good economic planks, McCain might have had had a fighting chance to win. Seems like he took care of that problem...
Friday, October 24, 2008
The Magic of the Military
Testosterone! It's one of the things that separate us guys from you girls. Evolution gave us this hormone so that we'll be aggressive about getting what we want, especially the woman of our choice.
I'd be the last to deny that aggressiveness has its plusses and minuses. Many men are challenged to curb their enthusiasm for pushing and shoving, both physically and verbally. But our aggressiveness and macho-ism often push us to take on important challenges and assume risks that a low-testosterone person might logically decline. Like the buck in rut, we at times think only of the objective and minimize the hazards as we singlemindedly pursue our goal.
Young men, peaking in their hormone production, need good outlets for their propensity for aggressiveness and risk-taking. Like the young buck, they need the supervision of older, more experienced and powerful males to channel their energies into constructive activities. That's one reason why I think the military is a really good thing.
My youngest grandson, Michael, is halfway through Marine basic training at Camp Pendleton, California. He's a really smart 19 year old, a saxophonist, and a typically uncertain and often lazy young man. Colleges wanted him, but he was not ready for them. So he joined the Marines.
We've had two letters from Michael. The first, written after three weeks of training, began "I hate basic!" The second, written after six weeks, began "I love basic!" He's already taken on and overcome the challenges of several ordeals, like swimming a distance in his uniform and boots. The Marines are forcing him to look inside himself and understand that his abilities are far greater than he comprehends. They are channelling his testosterone.
Before too long Michael and his buddies will be conditioned to fight together effectively and even savagely. Hopefully, that will be a skill he'll never have to employ (go, Obama!). But for the rest of his life he'll likely be a stand-up guy, someone who will take on life with gusto and do what his gut tells him is important. The era of the introverted, lazy kid is over for him. His testosterone is being channelled.
Some may worry that Michael will become a trained killer. I was once one of those, but the training eventually taught me to respect life rather than discount it. Having your own life in jeopardy or having to face taking the life of another forces thoughtful people to seriously contemplate life's value. I trust that Michael will come to realize, at some point of revelation, that life is precious and that taking it without just cause is a great sin.
Young men need good outlets for the drive that testosterone engenders. Here at Pittsford Ambulance, where I'm writing this post, many young men ride the ambulance for adventure and the opportunity to do something challenging and important. Michael has chosen to experience the magic of the military, which often turns older male children into effective adults. OO-RAH, Michael!
I'd be the last to deny that aggressiveness has its plusses and minuses. Many men are challenged to curb their enthusiasm for pushing and shoving, both physically and verbally. But our aggressiveness and macho-ism often push us to take on important challenges and assume risks that a low-testosterone person might logically decline. Like the buck in rut, we at times think only of the objective and minimize the hazards as we singlemindedly pursue our goal.
Young men, peaking in their hormone production, need good outlets for their propensity for aggressiveness and risk-taking. Like the young buck, they need the supervision of older, more experienced and powerful males to channel their energies into constructive activities. That's one reason why I think the military is a really good thing.
My youngest grandson, Michael, is halfway through Marine basic training at Camp Pendleton, California. He's a really smart 19 year old, a saxophonist, and a typically uncertain and often lazy young man. Colleges wanted him, but he was not ready for them. So he joined the Marines.
We've had two letters from Michael. The first, written after three weeks of training, began "I hate basic!" The second, written after six weeks, began "I love basic!" He's already taken on and overcome the challenges of several ordeals, like swimming a distance in his uniform and boots. The Marines are forcing him to look inside himself and understand that his abilities are far greater than he comprehends. They are channelling his testosterone.
Before too long Michael and his buddies will be conditioned to fight together effectively and even savagely. Hopefully, that will be a skill he'll never have to employ (go, Obama!). But for the rest of his life he'll likely be a stand-up guy, someone who will take on life with gusto and do what his gut tells him is important. The era of the introverted, lazy kid is over for him. His testosterone is being channelled.
Some may worry that Michael will become a trained killer. I was once one of those, but the training eventually taught me to respect life rather than discount it. Having your own life in jeopardy or having to face taking the life of another forces thoughtful people to seriously contemplate life's value. I trust that Michael will come to realize, at some point of revelation, that life is precious and that taking it without just cause is a great sin.
Young men need good outlets for the drive that testosterone engenders. Here at Pittsford Ambulance, where I'm writing this post, many young men ride the ambulance for adventure and the opportunity to do something challenging and important. Michael has chosen to experience the magic of the military, which often turns older male children into effective adults. OO-RAH, Michael!
Sunday, October 19, 2008
It's Landslide Time
What an interesting week! First, Obama gets endorsements from the Chicago Tribune, then the LA Times and the Denver Post. Two old-time, big-time conservative newspapers going for a liberal, mixed-race, young senator! Then the coup de gras - Colin Powell comes out for Obama. McCain's candidacy is becoming a smudge on the history of U.S. politics, where it belongs.
It seems like even Joe Sixpack is getting the idea that we need a younger, steady, communicative, intelligent leader as president, not an older, combative, willy-nilly "maverick" who's had a silver spoon in his mouth except for five years in a North Vietnam prison. And Joe also knows its time for Sarah Palin to return to the job she might be minimally qualified for.
In my view, Obama is not the choice because McCain is so bad. In fact, he's not a bad guy...he would just make a poor president because he's not too smart or up-to-date, and his world view is dated. Obama is the choice because he is a person of high accomplishment and high morals, and because he understands complexity both at home and abroad.
America is not the simple place that many conservatives believe it is; it is really a melting-pot society with looming problems that, if not addressed promptly, will make it a poor and weak nation compared to its place in the world over the last 100 years. America needs a president who will work hard to help Americans understand where we are, where we need to go, and what each of us can do to get us back on track. We also need a president who can go in front of the world and start convincing them that America is on the right side of global progress, not a barrier to it. Obama is that man.
It would be great if Obama could begin his presidency on the heels of a landslide vote in his favor, without any doubt about the overwhelming support of the country. We don't need a disloyal opposition carping about "voter fraud", or "more states went red than blue", or "Obama got elected by blacks", or any other distraction. We need him to have a mandate, and we need a congress that will work with him rather than obstruct him. We need to trust our government to roll up its sleeves and do the hard work of really fixing America instead of simply being a platform for two warring parties to trade insults.
Today the end is clearly in sight. I'm hoping for a national celebration on November 5th!
It seems like even Joe Sixpack is getting the idea that we need a younger, steady, communicative, intelligent leader as president, not an older, combative, willy-nilly "maverick" who's had a silver spoon in his mouth except for five years in a North Vietnam prison. And Joe also knows its time for Sarah Palin to return to the job she might be minimally qualified for.
In my view, Obama is not the choice because McCain is so bad. In fact, he's not a bad guy...he would just make a poor president because he's not too smart or up-to-date, and his world view is dated. Obama is the choice because he is a person of high accomplishment and high morals, and because he understands complexity both at home and abroad.
America is not the simple place that many conservatives believe it is; it is really a melting-pot society with looming problems that, if not addressed promptly, will make it a poor and weak nation compared to its place in the world over the last 100 years. America needs a president who will work hard to help Americans understand where we are, where we need to go, and what each of us can do to get us back on track. We also need a president who can go in front of the world and start convincing them that America is on the right side of global progress, not a barrier to it. Obama is that man.
It would be great if Obama could begin his presidency on the heels of a landslide vote in his favor, without any doubt about the overwhelming support of the country. We don't need a disloyal opposition carping about "voter fraud", or "more states went red than blue", or "Obama got elected by blacks", or any other distraction. We need him to have a mandate, and we need a congress that will work with him rather than obstruct him. We need to trust our government to roll up its sleeves and do the hard work of really fixing America instead of simply being a platform for two warring parties to trade insults.
Today the end is clearly in sight. I'm hoping for a national celebration on November 5th!
Thursday, October 09, 2008
Hello, Again
I've been away for a few days. Not physically away, but unable to concentrate on any particular topic. Life has been crazy and scary, stressful at such a level that even a warrior-type as I became pretty bent out of shape. It's nice to be back. Here's a retrospective of the past two weeks.
My IRA, which is my primary source of funds for living, has been hemorrhaging even though I thought it was pretty conservative. Ouch! I've stopped checking the balance.
All my non-profit bookkeeping jobs, both volunteer and semi-paid, had a September 30 closing to deal with. Lots of conputer screens and bank reconciliations!
Early one morning I had a vasovagal attack where my blood pressure and pulse plummeted, I began to sweat like being in a shower, and I got dizzy and tingled all over. It went away after awhile but scared the heck out of me and the Good Witch. Stress, I suppose.
I got sent to a cardiologist by my primary care doc, who didn't like my ekg. My blood pressure was too high, so the cardiologist gave me some minimal meds for that. Then I waited a week to take a stress echo-cardiogram...a week of anticipating the worst. Yesterday the stress ekg showed my heart was perfect and very strong for someone my age. What a relief!
Last Saturday afternoon I responded to an ambulance call and treated a lady who had just given birth in the car. She and the baby were fine, and her hubby - the driver - did a great job under duress!
This morning I answered an ambulance call and found a younger man who had fallen and passed away as a result.
Good Witch is romping on me to slow down. Maybe life can be just a bit too exciting. Time to hit the gym and transfer some of that stress into cardio and muscle-building. I'll worry about the IRA later.
At least McCain/Palin are self-destructing. See, a silver lining in an otherwise dark couple of weeks!
My IRA, which is my primary source of funds for living, has been hemorrhaging even though I thought it was pretty conservative. Ouch! I've stopped checking the balance.
All my non-profit bookkeeping jobs, both volunteer and semi-paid, had a September 30 closing to deal with. Lots of conputer screens and bank reconciliations!
Early one morning I had a vasovagal attack where my blood pressure and pulse plummeted, I began to sweat like being in a shower, and I got dizzy and tingled all over. It went away after awhile but scared the heck out of me and the Good Witch. Stress, I suppose.
I got sent to a cardiologist by my primary care doc, who didn't like my ekg. My blood pressure was too high, so the cardiologist gave me some minimal meds for that. Then I waited a week to take a stress echo-cardiogram...a week of anticipating the worst. Yesterday the stress ekg showed my heart was perfect and very strong for someone my age. What a relief!
Last Saturday afternoon I responded to an ambulance call and treated a lady who had just given birth in the car. She and the baby were fine, and her hubby - the driver - did a great job under duress!
This morning I answered an ambulance call and found a younger man who had fallen and passed away as a result.
Good Witch is romping on me to slow down. Maybe life can be just a bit too exciting. Time to hit the gym and transfer some of that stress into cardio and muscle-building. I'll worry about the IRA later.
At least McCain/Palin are self-destructing. See, a silver lining in an otherwise dark couple of weeks!
Saturday, October 04, 2008
It's Ugly Time!
Here we go! Direct from CNN this evening:
"Alaska Gov. Sarah Palin slammed Sen. Barack Obama's political relationship with a former anti-war radical on Saturday, accusing him of associating "with terrorists who targeted their own country." Palin's comment delivered on the McCain campaign's announcement that it would step up attacks on the Democratic presidential candidate."
Remember when both candidates committed themselves to running clean campaigns? We had a few moments of hope that this election would be fought on issues. Sorry, folks. We're headed for a month of mud-slinging, at least from the republicans who sense that this election is heading south for them.
The nice thing about Palin's claim is that it's true. Obama has had a relationship with a semi-repentant terrorist from the 1960's, a man who has re-integrated with Chicago society and apparently done some good things. Obama can't deny this relationship, nor can he explain it in a few words. It will be interesting to see how Obama and Biden handle this mud, mud that's been around for awhile but is now being given another shot.
Will we be treated by Joe Biden to some juicy tidbits about Palin? Will some particularly juicy McCain anecdotes hit the airwaves in October? One thing's sure - once the gloves are off, there will be blood on the floor. November 5th will be a bitter day for a lot of people, regardless of how this election turns. If the election had been contested on issues, the losing side might find some equanimity. But when ugliness characterizes the fight, bitterness is the sure outcome. Such a pity!
"Alaska Gov. Sarah Palin slammed Sen. Barack Obama's political relationship with a former anti-war radical on Saturday, accusing him of associating "with terrorists who targeted their own country." Palin's comment delivered on the McCain campaign's announcement that it would step up attacks on the Democratic presidential candidate."
Remember when both candidates committed themselves to running clean campaigns? We had a few moments of hope that this election would be fought on issues. Sorry, folks. We're headed for a month of mud-slinging, at least from the republicans who sense that this election is heading south for them.
The nice thing about Palin's claim is that it's true. Obama has had a relationship with a semi-repentant terrorist from the 1960's, a man who has re-integrated with Chicago society and apparently done some good things. Obama can't deny this relationship, nor can he explain it in a few words. It will be interesting to see how Obama and Biden handle this mud, mud that's been around for awhile but is now being given another shot.
Will we be treated by Joe Biden to some juicy tidbits about Palin? Will some particularly juicy McCain anecdotes hit the airwaves in October? One thing's sure - once the gloves are off, there will be blood on the floor. November 5th will be a bitter day for a lot of people, regardless of how this election turns. If the election had been contested on issues, the losing side might find some equanimity. But when ugliness characterizes the fight, bitterness is the sure outcome. Such a pity!
Monday, September 29, 2008
Republican Ignoramusi!
They've done it again! The republicans have this particular talent for acting on emotion and taking our country down. Their feelings are right - nobody felt good about Wall Street and all the pain its junk securities have brought to us. Their actions are wrong; they're willing to trash the country out of anger. I hope they get voted out in droves! But I also hope we find a reasonable way out of this mess before the economy tanks.
The fact is that we, the people, created this problem. We voted for the wrong people (deregulators), we let greed take over in too many households, we accepted government deficit spending, and we sat by and let the lobbyists own Washington. Now, we own it and we got to fix it. There are two ways to do that - the way of chaos and the way of workout. The republicans chose the way of chaos, and chaos is what they are getting - Dow down 777 points today! The only bright side is that it wasn't 666 points, which really would have set off those conservative Christian republicans.
Many ordinary citizens believe that the institutions and people left holding the bags of bad securities should just take their losses or even go under. Well, some of the banks already have, and more will. Some big investment firms have failed. Some foreign banks have failed. Nobody knows for certain what will follow, but Obama, McCain, and almost all the experts are worried that liquidity will dry up and paralyze routine interbank transactions. This could bring the world economy to a halt. But most republican congressmen think this would be just fine. They are ignoramusi! But Faux News loves them, bless their souls! The question is, will ordinary citizens love them by Christmas, or even election day?
The fact is that we, the people, created this problem. We voted for the wrong people (deregulators), we let greed take over in too many households, we accepted government deficit spending, and we sat by and let the lobbyists own Washington. Now, we own it and we got to fix it. There are two ways to do that - the way of chaos and the way of workout. The republicans chose the way of chaos, and chaos is what they are getting - Dow down 777 points today! The only bright side is that it wasn't 666 points, which really would have set off those conservative Christian republicans.
Many ordinary citizens believe that the institutions and people left holding the bags of bad securities should just take their losses or even go under. Well, some of the banks already have, and more will. Some big investment firms have failed. Some foreign banks have failed. Nobody knows for certain what will follow, but Obama, McCain, and almost all the experts are worried that liquidity will dry up and paralyze routine interbank transactions. This could bring the world economy to a halt. But most republican congressmen think this would be just fine. They are ignoramusi! But Faux News loves them, bless their souls! The question is, will ordinary citizens love them by Christmas, or even election day?
Friday, September 26, 2008
The Six "P's"
I can't remember where I first heard this saying, "Prior Planning Prevents Piss Poor Performance" - the "Six P's". It's true. If you get in front of problems, then you can avoid them or minimize their impact. If you don't see the world as it really is and take proactive steps, then problems grow into crises. That's why the current financial situation represents "piss poor performance" by our elected officials - especially the executive branch.
Fingers are being pointed in all directions - always away from whoever is pointing the finger, which is typical of politicians. The fact is that everyone in a position to have gotten in front of this financial crisis failed us. Republicans, democrats, the executive branch and the congress, the regulatory agencies, and the big companies that dominate the markets who are now crashing. Nobody is clean, except perhaps Warren Buffet, who called derivatives and credit swaps and packaged sub-prime mortages "financial weapons of mass destruction". He was right.
After a week of listening to many points of view on this topic, I have three conclusions:
1. The government "bail-out" is the right thing to do, if it includes appropriate oversight and transparency, and has terms that maximize the government's ability to recover funds. If the credit markets can't function, a serious recession is inevitable.
2. Conservative "small town" republicans have their heads in the sand and are fomenting chaos by focusing on their outrage instead of working toward a solution. They are the "Herbert Hoover's" of the current situation; they are willing to risk a general meltdown over "principle". However, these are the same people who, for years, have had plenty of opportunity to get in front of the problems but failed to do so.
3. The president is primarily responsible for not preventing the meltdown. He is "the Decider", or at least, the captain of the ship. He has 3,000 people in his office; he appoints the SEC chairman, the Federal Reserve chairman, and the secretary of the treasury; he oversees the regulatory agencies. In his role as the primary "defender of the country", it was his responsibility to see the risk of economic chaos building and then take steps to mitigate it, whether or not his message was politically palatable. He did not do this - he looked the other way because his message would have been politically unpopular. He failed us, either because he was not smart enough to understand the problem or he just ignored it.
In the end, the meltdown will be avoided. All the "good Americans" will pay a high price for the actions of the "bad Americans" - those who took unreasonable risks and those who managed the scams that allowed people to take these risks. We have good reason to be outraged, but we have to deal with the situation as it is at this moment - looking forward, not backward.
Will we remember the "Six P's" as we look at the many other major problems that America faces? Time will tell. The November election will have much to say about this.
Fingers are being pointed in all directions - always away from whoever is pointing the finger, which is typical of politicians. The fact is that everyone in a position to have gotten in front of this financial crisis failed us. Republicans, democrats, the executive branch and the congress, the regulatory agencies, and the big companies that dominate the markets who are now crashing. Nobody is clean, except perhaps Warren Buffet, who called derivatives and credit swaps and packaged sub-prime mortages "financial weapons of mass destruction". He was right.
After a week of listening to many points of view on this topic, I have three conclusions:
1. The government "bail-out" is the right thing to do, if it includes appropriate oversight and transparency, and has terms that maximize the government's ability to recover funds. If the credit markets can't function, a serious recession is inevitable.
2. Conservative "small town" republicans have their heads in the sand and are fomenting chaos by focusing on their outrage instead of working toward a solution. They are the "Herbert Hoover's" of the current situation; they are willing to risk a general meltdown over "principle". However, these are the same people who, for years, have had plenty of opportunity to get in front of the problems but failed to do so.
3. The president is primarily responsible for not preventing the meltdown. He is "the Decider", or at least, the captain of the ship. He has 3,000 people in his office; he appoints the SEC chairman, the Federal Reserve chairman, and the secretary of the treasury; he oversees the regulatory agencies. In his role as the primary "defender of the country", it was his responsibility to see the risk of economic chaos building and then take steps to mitigate it, whether or not his message was politically palatable. He did not do this - he looked the other way because his message would have been politically unpopular. He failed us, either because he was not smart enough to understand the problem or he just ignored it.
In the end, the meltdown will be avoided. All the "good Americans" will pay a high price for the actions of the "bad Americans" - those who took unreasonable risks and those who managed the scams that allowed people to take these risks. We have good reason to be outraged, but we have to deal with the situation as it is at this moment - looking forward, not backward.
Will we remember the "Six P's" as we look at the many other major problems that America faces? Time will tell. The November election will have much to say about this.
Sunday, September 21, 2008
"Boo" Weekley and Kenny Perry Win the Rider Cup
I'm a golf nut. It's like having a disability. This year has been chaotic; I've shot 37 on both the front and back of my difficult course (slope=128), and I've shot almost 100 for 18 holes. I play golf a lot, I subscribe to golf magazines, I have lots of clubs, and I watch golf on TV. Although I have a really busy life, I work something about golf into it whenever I can. So, this afternoon, I sorted hundreds of work documents while I watched the singles Rider Cup matches. As I write, the outcome is still uncertain. Whatever happens, I will always remember two country boys from Kentucky - "Boo" Weekley and Kenny Perry.
Talk about "Country Boys", these two take the cake! "Boo" is the nickname for a guy who qualified for the PGA tour wearing camoflage, a guy who didn't know the rules for match play, a guy who said he'd rather be out hunting or fishing than playing golf, a guy who didn't make it to the PGA tour until age 29, then lost his card, then got it back three years ago. Kenny Perry, on the other hand, is a PGA tour veteran, 48 years old, and wealthy from many years of good performance on the golf course. Can you imagine, a big time golf pro named "Kenny"? He still thinks he's a country boy, and he isn't really interested in the British Open.
"Boo" and Kenny have been great performers in this year's Rider Cup. But they are not "blueblood" country club players. Kenny's dad gave him a hug wearing denim overalls with shoulder straps - farmer's clothing. Golf has been democratized!
These two players say a lot about America. Our country is so varied, but people everywhere have a chance to get in the mix and succeed. Way to go, "Boo" and Kenny.
And, by the way, the Americans just won the Rider Cup! Hip, hip, hooray! And all those rich professional golfers played for zero dollars this week - they played for pride. How sweet it is!
Talk about "Country Boys", these two take the cake! "Boo" is the nickname for a guy who qualified for the PGA tour wearing camoflage, a guy who didn't know the rules for match play, a guy who said he'd rather be out hunting or fishing than playing golf, a guy who didn't make it to the PGA tour until age 29, then lost his card, then got it back three years ago. Kenny Perry, on the other hand, is a PGA tour veteran, 48 years old, and wealthy from many years of good performance on the golf course. Can you imagine, a big time golf pro named "Kenny"? He still thinks he's a country boy, and he isn't really interested in the British Open.
"Boo" and Kenny have been great performers in this year's Rider Cup. But they are not "blueblood" country club players. Kenny's dad gave him a hug wearing denim overalls with shoulder straps - farmer's clothing. Golf has been democratized!
These two players say a lot about America. Our country is so varied, but people everywhere have a chance to get in the mix and succeed. Way to go, "Boo" and Kenny.
And, by the way, the Americans just won the Rider Cup! Hip, hip, hooray! And all those rich professional golfers played for zero dollars this week - they played for pride. How sweet it is!
Friday, September 19, 2008
Accountability, Not Finger-Pointing
Our highly organized, many-layered society requires millions of leaders. They may be called chiefs, managers, presidents, executive directors, pastors, or whatever, but they are important people.
In short, here's the deal they make with their employer: "In exchange for a nice salary, some prestige, some perks, and the self-actualizing power of being 'in charge', I promise to understand and attend to the best interests of my employer at all times."
Implicit in the contract is the idea that the leader is capable of doing the job. Responsibilities are outlined, declarations are made, references are checked, other candidates are considered and rejected. Both parties shake hands and the leader starts leading. From that point on, whatever happens in that organization is his or her problem to deal with.
I was a 2nd lieutenant in the 101st Airborne Division at age 20. At age 27 I was in charge of small audits for a large CPA firm. At 38, I managed the financial systems and kept the general ledger for a multi-billion dollar corporation. At one time, my staff and I had 16 critical projects going, simultaneously; millions of dollars in costs, and millions of dollars of risks if the projects went awry. After retirement, I was director of operations for a 100-member volunteer ambulance corps, a group that handled life-and-death situations and was subject to many government regulations. Consequently, I have a pretty good idea of what it means to be responsible.
I recall being taught the three possible responses that a second lieutenant can give a senior officer: "Yes, sir. No, sir. No excuse, sir." No equivocating. You get asked a direct question, you give a direct answer. This is the expectation of leadership. So, if you stay ahead of events, you work smart, you have a little good luck - you get medals or bonuses or cheers. If you don't anticipate, you get lazy, you get a bad break - you get demoted or fired or pillaried. But you are expected to stand up and be accountable for your successes and your failures. Leaders don't weasel, don't equivocate, don't whine, don't point fingers, and don't disappear.
Have you seen any leaders in Washington lately?
And, as a footnote: if one has to choose between two people for president of the United States, one might consider giving merit to the candidate who seems more action-oriented, more attuned to the issues, more able to work with people to achieve solutions, and more willing to stand up and be counted. On the other hand, if a candidate seems consumed with finger-pointing, dismiss him. What you see will be what you get.
In short, here's the deal they make with their employer: "In exchange for a nice salary, some prestige, some perks, and the self-actualizing power of being 'in charge', I promise to understand and attend to the best interests of my employer at all times."
Implicit in the contract is the idea that the leader is capable of doing the job. Responsibilities are outlined, declarations are made, references are checked, other candidates are considered and rejected. Both parties shake hands and the leader starts leading. From that point on, whatever happens in that organization is his or her problem to deal with.
I was a 2nd lieutenant in the 101st Airborne Division at age 20. At age 27 I was in charge of small audits for a large CPA firm. At 38, I managed the financial systems and kept the general ledger for a multi-billion dollar corporation. At one time, my staff and I had 16 critical projects going, simultaneously; millions of dollars in costs, and millions of dollars of risks if the projects went awry. After retirement, I was director of operations for a 100-member volunteer ambulance corps, a group that handled life-and-death situations and was subject to many government regulations. Consequently, I have a pretty good idea of what it means to be responsible.
I recall being taught the three possible responses that a second lieutenant can give a senior officer: "Yes, sir. No, sir. No excuse, sir." No equivocating. You get asked a direct question, you give a direct answer. This is the expectation of leadership. So, if you stay ahead of events, you work smart, you have a little good luck - you get medals or bonuses or cheers. If you don't anticipate, you get lazy, you get a bad break - you get demoted or fired or pillaried. But you are expected to stand up and be accountable for your successes and your failures. Leaders don't weasel, don't equivocate, don't whine, don't point fingers, and don't disappear.
Have you seen any leaders in Washington lately?
And, as a footnote: if one has to choose between two people for president of the United States, one might consider giving merit to the candidate who seems more action-oriented, more attuned to the issues, more able to work with people to achieve solutions, and more willing to stand up and be counted. On the other hand, if a candidate seems consumed with finger-pointing, dismiss him. What you see will be what you get.
An Ugly Denoument
Today the federal government pretty much committed to swallow many hundred billions of dollars of sub-prime debt held by financial institutions. The markets rebounded, with people like me seeing many thousands of dollars of paper losses erased in the comeback...not that there aren't quite a few more losses unrecouped at this point. Should we be happy? Hardly.
This entire fiasco resulted from two primary failures of government. First, the financial regulators somehow forgot that it's bad to allow customers with poor credit to buy overpriced homes with no down payment and commit them to mortgage interest rates likely to skyrocket them into foreclosure and bankruptcy. Second, a certain Mr. Cox, a republican congressman promoted to head the SEC by president Bush, killed a regulation that outlawed naked "short sales", thereby allowing the most unprincipled people to drive beleagured stocks deep into the tank without even owning any of them - and make huge (maybe even billions) of profits by so doing.
Now, the United States of America (also known as the "taxpayers" - you and me) will own the junk mortgages and take much of the losses associated with them. The financial institutions that previously owned them will be bruised but not broken. The real estate agents, mortgage brokers, and financial intermediaries who packaged the mortgages will keep the immense profits they made during the sub-prime mortgage boom. You and me, the average American citizen who pays their taxes and doesn't take stupid risks, will pay the bill. In other words, we're being punished for being responsible, and the greedy bastards are being rewarded. The logic is that if we don't take on this debt, the world's financial stability will be destroyed. Isn't it nice to be the savior?
As I said in a previous blog, it is the responsibility of government to safeguard the country from major disasters. This particular disaster happened on Bush's watch, and many of his major contributors have emerged very rich as a result. But we, and our children, have gotten screwed. In my view, quite a few people in the Bush administration belong in the doghouse or worse. And their backers, those who profited nicely from this debacle, should pay some big taxes on their future income. And the republican party should be put in the closet in November. And, unfortunately, we normal people are going to end up holding the bag. Sorry to give you the bad news if you hadn't heard!
This entire fiasco resulted from two primary failures of government. First, the financial regulators somehow forgot that it's bad to allow customers with poor credit to buy overpriced homes with no down payment and commit them to mortgage interest rates likely to skyrocket them into foreclosure and bankruptcy. Second, a certain Mr. Cox, a republican congressman promoted to head the SEC by president Bush, killed a regulation that outlawed naked "short sales", thereby allowing the most unprincipled people to drive beleagured stocks deep into the tank without even owning any of them - and make huge (maybe even billions) of profits by so doing.
Now, the United States of America (also known as the "taxpayers" - you and me) will own the junk mortgages and take much of the losses associated with them. The financial institutions that previously owned them will be bruised but not broken. The real estate agents, mortgage brokers, and financial intermediaries who packaged the mortgages will keep the immense profits they made during the sub-prime mortgage boom. You and me, the average American citizen who pays their taxes and doesn't take stupid risks, will pay the bill. In other words, we're being punished for being responsible, and the greedy bastards are being rewarded. The logic is that if we don't take on this debt, the world's financial stability will be destroyed. Isn't it nice to be the savior?
As I said in a previous blog, it is the responsibility of government to safeguard the country from major disasters. This particular disaster happened on Bush's watch, and many of his major contributors have emerged very rich as a result. But we, and our children, have gotten screwed. In my view, quite a few people in the Bush administration belong in the doghouse or worse. And their backers, those who profited nicely from this debacle, should pay some big taxes on their future income. And the republican party should be put in the closet in November. And, unfortunately, we normal people are going to end up holding the bag. Sorry to give you the bad news if you hadn't heard!
Monday, September 15, 2008
It's the Republicans, Stupid!
It boggles my mind that that the democrats are running against McCain by attempting to connect him with the failed presidency of George W. Bush. Personalizing the great divide between democrats and republicans is the wrong strategy. The right strategy is to focus on the "republican party" as the problem, because it is.
The sad state of America today is largely the result of policies that the republican party has adoped and implemented since 1994, when they took over control of congress. Those policies got far greater support after George Bush's election in 2000. McCain may be a contender for a seat in the oval office, but the much bigger problem is that the many behind-the-scenes party functionaries and their allies will not change if McCain is elected. The basic policies that they have supported all these years will continue, because they have such great influence. That is the problem.
It's easy for Americans to agree on the issues that need to be addressed if America can rebound. Getting the federal budget under control, including the giant unfunded entitlements...implementing a comprehensive energy policy to reduce our dependence on foreign oil...educating our children...moving toward a unified foreign policy stance with our natural allies...rationalizing our health care system. These are the issues that the republicans, as a group, have failed to confront, let alone solve. Who would want four more years of no progress on these critical matters?
Why, given a new McCain presidency, would progress be unlikely? That's easy to answer. It's all about who would gain or lose if change was made. It's obvious the republican movers and shakers don't think fixing these problems are in their best (financial) interests, simply because they've had plenty of opportunity to deal with them during the past seven years. Who would conclude that they've had a major change of heart? Only a fool.
The past few weeks have shown most thinking Americans what the republicans are trying to do in this election - turn it into a soap opera of personalities rather than a discussion of issues. "Problems" don't exist, except for such trivial issues as "earmarks". Their campaigns of outright lies about their own positions and qualifications, along with not-so-subtle appeals to racism and a false claim to ownership of patriotism, are right out there for all to see. Some media are finally getting bold about "outing" this detestable behavior, but there should be a firestorm of outrage!
Obama and his managers need to take off the gloves. They need to put the problems on the front page and explain in simple terms why the republicans have no interest in solving them. They need to call a lie a lie. They need to use McCain's own quotes about "experience" to show how underqualified Palin is. They need to ask the American people if they like the way things are, since a McCain election will bring more of the same. And that's the truth.
The sad state of America today is largely the result of policies that the republican party has adoped and implemented since 1994, when they took over control of congress. Those policies got far greater support after George Bush's election in 2000. McCain may be a contender for a seat in the oval office, but the much bigger problem is that the many behind-the-scenes party functionaries and their allies will not change if McCain is elected. The basic policies that they have supported all these years will continue, because they have such great influence. That is the problem.
It's easy for Americans to agree on the issues that need to be addressed if America can rebound. Getting the federal budget under control, including the giant unfunded entitlements...implementing a comprehensive energy policy to reduce our dependence on foreign oil...educating our children...moving toward a unified foreign policy stance with our natural allies...rationalizing our health care system. These are the issues that the republicans, as a group, have failed to confront, let alone solve. Who would want four more years of no progress on these critical matters?
Why, given a new McCain presidency, would progress be unlikely? That's easy to answer. It's all about who would gain or lose if change was made. It's obvious the republican movers and shakers don't think fixing these problems are in their best (financial) interests, simply because they've had plenty of opportunity to deal with them during the past seven years. Who would conclude that they've had a major change of heart? Only a fool.
The past few weeks have shown most thinking Americans what the republicans are trying to do in this election - turn it into a soap opera of personalities rather than a discussion of issues. "Problems" don't exist, except for such trivial issues as "earmarks". Their campaigns of outright lies about their own positions and qualifications, along with not-so-subtle appeals to racism and a false claim to ownership of patriotism, are right out there for all to see. Some media are finally getting bold about "outing" this detestable behavior, but there should be a firestorm of outrage!
Obama and his managers need to take off the gloves. They need to put the problems on the front page and explain in simple terms why the republicans have no interest in solving them. They need to call a lie a lie. They need to use McCain's own quotes about "experience" to show how underqualified Palin is. They need to ask the American people if they like the way things are, since a McCain election will bring more of the same. And that's the truth.
Sunday, September 14, 2008
Another Course Completed, Another Course Started
The Good Witch and I recently enjoyed our way through Neil deGrasse Tyson's wonderful 12-lecture course entitled "My Favorite Universe", courtesy of a small payment to The Teaching Company.
Where did we come from? Stardust, of course. How many galaxies and stars are there in the universe? 50-100 billion galaxies, each with 50-100 billion stars. That's a lot of stars! How many black holes are there, out there? Billions of them, and don't get too close! Should we be concerned about the earth getting hit by a big asteroid or comet? Might be a good idea.... And much more, delivered in layman's terms by a great communicator. Education at its finest.
That done, we've returned to an old friend, Robert Greenberg. He once lead us through a long (48 lectures of 45 minutes each) course called "How to Understand and Enjoy Great Music". It was truly enjoyable and illuminating. Now we've begun "The Concerto", a 24-lecture course on one of the great formats of music - a solo instrument interacting with a powerful orchestra. The last two lectures covered Mozart's concerti, in Greenberg's opinion the greatest body of work in this format. Perhaps I'll agree, but we've got many great composers to hear before we're done.
Some gerontologists say that people age much faster when they stop learning, when their curiousity wanes, when they get set in their ways. The Teaching Company provides a great way for us simultaneously to keep our minds active and to experience true enjoyment, without leaving the house. So I can walk 18 holes in the afternoon, have dinner and a nice Scotch, and then settle down with my sweet wife to become a little more educated. What a great life!
Of course, tonight may be a long one, since I'm the medic on Pittsford Ambulance from 11 p.m. to 8 a.m. Who knows what combination of real emergencies and silly stuff awaits me? The suspense is one of the things that makes ambulance work interesting, even after 2,000 calls. With great luck I may sleep throught the night in my uniform! If you haven't found a way to "give back", think about finding an opportunity. You will get back more than you give.
Where did we come from? Stardust, of course. How many galaxies and stars are there in the universe? 50-100 billion galaxies, each with 50-100 billion stars. That's a lot of stars! How many black holes are there, out there? Billions of them, and don't get too close! Should we be concerned about the earth getting hit by a big asteroid or comet? Might be a good idea.... And much more, delivered in layman's terms by a great communicator. Education at its finest.
That done, we've returned to an old friend, Robert Greenberg. He once lead us through a long (48 lectures of 45 minutes each) course called "How to Understand and Enjoy Great Music". It was truly enjoyable and illuminating. Now we've begun "The Concerto", a 24-lecture course on one of the great formats of music - a solo instrument interacting with a powerful orchestra. The last two lectures covered Mozart's concerti, in Greenberg's opinion the greatest body of work in this format. Perhaps I'll agree, but we've got many great composers to hear before we're done.
Some gerontologists say that people age much faster when they stop learning, when their curiousity wanes, when they get set in their ways. The Teaching Company provides a great way for us simultaneously to keep our minds active and to experience true enjoyment, without leaving the house. So I can walk 18 holes in the afternoon, have dinner and a nice Scotch, and then settle down with my sweet wife to become a little more educated. What a great life!
Of course, tonight may be a long one, since I'm the medic on Pittsford Ambulance from 11 p.m. to 8 a.m. Who knows what combination of real emergencies and silly stuff awaits me? The suspense is one of the things that makes ambulance work interesting, even after 2,000 calls. With great luck I may sleep throught the night in my uniform! If you haven't found a way to "give back", think about finding an opportunity. You will get back more than you give.
Subscribe to:
Posts (Atom)
