Matthew wrote Balance, Transition, Change, Messiah

Monty captured the media’s paltry attempts at balance just right:

And Non Sequitur captured the spirit of the media coverage of Obama’s transition team:

Meanwhile, in the world that still travails under the weight of sin, current United States President George Bush’s policies dealing with AIDS are being praised as some of the most successful while remaining deferential to local support structures in affected locations. By working with churches and existing on-site humanitarian organizations the Bush Administration’s policies have sidestepped the bureaucratic bungling which destroyed the efficiency of other relief attempted while allowing the AIDS vaccines and treatments to reach the affected people much more quickly and cheaply.

So what does Obama plan to do? Change them of course. After all, we can’t expect those evolved animals to refrain from sex, can we?

After all, even some Americans are unable to even solve the moral equation containing Walmart deals and a horrific death.

Scanning the headlines on Google News this morning I was struck with how anxious the media are to cover the minutiae of every act of Obama as though he is their President already and worthy of the highest words of praise.

Instead of the sufficient and clear “Obama Selects Security Team”, the Washington Post writes this headline full of pathos and shining leadership “Obama Names Team To Face A Complex Security Picture“.

Bush was the bozo clown, the dimwit, the accidental accident.

Obama names his teams to face complex security pictures, he is brilliant and compelling.

Meanwhile, God is apparently Pro-Choice.

ShatteredChina wrote What did he say?

So,I assume the majority of the readers of this blogs are already familiar with the media’s misrepresentation of the truth about the candidates. However, just in case you need more evidence, here is a stunning survey that tells what really happened this election. This video tells some more.

And a quick quote to wet your interest . . .

“After I interviewed Obama voters on Election Day for my documentary, I had a pretty low opinion of what most of them had picked up from the media coverage of the campaign, but this poll really proves beyond any doubt the stunning level of malpractice on the part of the media in not educating the Obama portion of the voting populace,” said Ziegler.

 

Ninety-four percent of Obama voters correctly identified Palin as the candidate with a pregnant teenage daughter, 86% correctly identified Palin as the candidate associated with a $150,000 wardrobe purchased by her political party, and 81% chose McCain as the candidate who was unable to identify the number of houses he owned.

 

83% failed to correctly answer that Obama had won his first election by getting all of his opponents removed from the ballot, and 88% did not correctly associate Obama with his statement that his energy policies would likely bankrupt the coal industry.

Matthew wrote Have We Forgotten?

With the elections of November 2006, the overall victorious party, the Democrats, claimed they’d been given a “mandate” regarding many issues, particularly the War on Terror. They claim the American people have spoken and that the only allowable course now is withdrawal and defeat. Though they speak specifically of the Iraqi War, their master policy is reflective of their general disenchantment with the whole war against terror. This belief in a “mandate”, the word du jour for giving credence to the questionably credible, does seem to be born out by the recent polls, as reported on CNN and the BBC, showing 2/3 of Americans don’t see a good plan for winning the War in Iraq.

While it is only barely debatable that the Iraq War is not going the way we’d hoped, not even complete failure is a viable reason for ever giving up, especially in this war where it is our homes, families, businesses, our way of life, and our lives themselves which are at stake. After all, this war began, at least this current phase, with the enemy attaching us, on our turf, killing our husbands and wives, sons and daughters, mothers and fathers, sisters, brothers, innocents all. Even many jihadists agree that non-combatants, civilians, and innocents are off-limits to any kind of attack. But attacked we were, and though it has now been several years since that attack we vowed we’d never forget, it was neither the first nor will it be the last, the danger is little abated. Is there then reason for throwing up our hands collectively, defeated?

Liberals would say emphatically “Yes!”

The current strategy, according to liberals, is not working, and therefore we must tuck tail and run. Defeatism leading to disengagement, with the ultimate goal of isolationism. An island we will be, literally and figuratively. And we having cried “uncle,” the rabid dogs hounding us around the world will allow us a gracious defeat and will let us be, alone. A final Vietnam this will be, America will no longer find the will to project itself and then indeed others will take the reins of power in the world. Except for several things, but first: Where in our governing documents and illustrious history do we the people determine the minutiae of war policy?

We expressly give the President power to direct and wage war as necessary and as he sees fit to protect our interests. This is, in part, why it is so very important that there be people of Character in high office leading this great nation. There cannot be a part-time person of character, for if at the first change of wind that person reassesses and changes their position, they are not truly a person of character. President Bush, for all anybodies disagreements with him personally and politically, has not changed course. He has stated his goal simply: to defeat terrorism whenever and wherever it is found, and has not changed. Whether agreeing with him or not, one can know what President Bush will continue to do. And the job is not finished. Far from it. The very fact of our experiencing difficulties in Iraq should be cause for us to redouble our efforts, reaffirming the need for such a battle now, before it is too late. And resolving to continue the fight we did not start in order to destroy the enemy who would destroy us.

For that is their goal whether we leave or not. The militant, radical, extremist Muslims, or Islamo-Nazis or Islamo-Facists, who began this war have a very public goal which they are not loath to tell, yet which we seem to have forgotten, it would seem. That goal is shouted by radical Imams (preachers or prayer leaders) and written officially as Fatwahs (edicts) and published to their adherents around the globe. America is the Great Satan and it and other nations which do not submit to their extreme Islamic theology, philosophy, and government must be destroyed, period. For them there is no discussion, no arguing the points and possibilities of peaceful coexistance. If we give up in Iraq and the other fronts of the War on Terror we are signing our own, our childrens’, and out entire futures’ death warrants. They will be utterly defeated or they will rule the world, there is no third option for them, and therefore there isn’t for us either.

So then, the only choice for us must be to continue to face them in classic American projectionism. To battle evil is the calling and constant duty of the good. Evil at different times and places takes different faces. Consider the World Wars of the last century. What if we’d given up because too many were dying? What if we’d accepted defeat at the hands of the Nazis? It is likely all of Europe would be enslaved to this day by them or another despotic regime along with most or all of Africa and the East. Prior to our engagement in that war it was the Republican Party arguing for isolationism against engagement, just to show how times and ideas change.

Just as in the World Wars, others are depending, both admittedly and unadmittedly, on our success. The United Kingdom continues to be our staunchest ally, showing classic British, Scottish, Irish and Welsh pluck and courage and an indomitable spirit. Mr. Blair has perhaps been more eloquent in his defence of the War and has used his bully pulpit more often explaining the rationale for our continued involvement in this fight than President Bush. Spain has given up after suffering great pain and loss of its own on its own shores. Instead of steeling its resolve as the London Train Bombings did for the United Kingdom, Spains’ Madrid Train Bombings broke the resolve of Castilla. Regardless of the allies individual or collective spines, though, if we fail, Spain will once again become a Moorish conquest, and this will not be an Islamic Kingdom such as that of the Moors of old who valued art and learning and to whom we owe a great debt for their careful preservation and translation of many priceless works of knowledge and beauty.

So if America were indeed to falter and fail, and retreat within its borders, who would then take the lead in the world? Who has the strength and ability, and more importantly the moral fiber and the national will?

There are few countries indeed who do not have the desire to lead the world the way America has led. The relevant question really is not would they, but could they and should they. The UK has perhaps the nearest moral fiber (nationally) to America. Willing to take unpopular stands around the world in what they see as preservation of good. However, by size they are physically unable to produce enough to lead economically. A leading nation must be able to produce enough to be nearly self-sufficient if necessary. They must be an economic powerhouse challenging all others to give it weight enough for it’s word to mean something. The European Union has shown it does not have the moral fiber to stand against evil at crucial times. Like the UN, when it comes to actual meaningful action, the EU is hampered by it’s own universality, someone is always involved with the enemy and therefore no one can do what must be done. Further, being based on “old-world” economies, it does not produce or consume enough, even collectively, to give it’s word weight beyond it’s member n ations.

In Asia, both China and India have the size, and economic and political/military might and/or potential. However, China is hampered by an immoral, communist quasi-dictatorship, and even if democracy or some less greedily repressive and philosophically backward form of government than comunism were to take over immediately, the people would not soon be ready for world domination and protection. India perhaps has the best chance of becoming a or the world dominant nation, post America, but even they suffer under a socially restrictive religion, social order, and government.

African and South American nations suffer almost universally under corrupt, despotic governments and appear too busy enriching their own upper crusts illegitimately to worry too much about their being the trailing end of the nations of the world. Russia seems unable to throw off cronyism and corruption in business or the siren song of a communist government.

Those nations among our allies in the Middle East have their hands much too full trying to set their houses in order without offending any of their geographical or theological brethren, and many of them officially support ideologies as destructive and evil as any of their more violent neighbors who we’re now in struggle against

So that leaves America. Oh, and not to offend anybody, but who’s heard anything out of our northern neighbor Canada recently? I’m told it’s a beautiful place and the people there are special and nice and kind, but they appear to be content, in a global perspective, being frosting, a whole lot of white stuff, on top of the United States. That and trying to win the title “More Socialist Than France While Still Drinking Beer (Wine Is For Sissies).” So here we are, the lone strongman holdout against the encroaching darkness, to whom all others cling. Some more grudgingly than others. But this is what we are fighting for, the whole world. This is the responsibility that comes with being the nice big kid on the block: We have to face every bully. And if we don’t win, this particularly bully is a rapist.

Matthew wrote And People Trust Them?

There are two things which I do not understand regarding this vomit-inducing spectacle which is the media frenzy regarding all things Obama:

First, that people still believe the media to be an accurate and unbiased representation of the facts of any matter.

Second, that people can still claim with a straight face that the media sides with McCain.

Glenn Beck (The Conservative CNN Can’t Fire): Obama coverage embarassing

As candidates, Barack Obama and John McCain are ironically a lot like the way the media treats them: Obama is the glitzy magazine cover that screams for people to buy the issue, and McCain is the fact-filled article buried inside that makes you glad you did.

Chicago Tribune: The Germans love him more than we do

Berlin police estimated more than 200,000 people attended the speech, more than twice as large a crowd as Obama has drawn at any event in the United States.

Chuck Raasch (possibly Another Fawning Groupie): Even though it’s a circus, it’s an important circus, dammit!

Obama did have shaky moments. In tough interviews with network anchors and correspondents, he looked evasive and irritated when pressed on his unwillingness to acknowledge the U.S. troop surge supported by McCain had been a success in Iraq. Some reporters blogged about Obama aides acting as if he were already president. There’s that presumptuousness again, enhanced by reports Obama had ordered presidential transition planning.

But this trip was about images, not words. In sideways glances at TV screens, Americans were able to take measure of a potential president on the world stage. The choreographed political diplomacy showed a confident-looking Obama on even platforms with heads of state. Obama can now sprinkle speeches with phrases like, “As I said to Hamid Karzai.”

What if all this crowning doesn’t mean anything?

And what if California goes Red?

Obama is a pompous and arrogant man. If only so many weren’t so blind.

Matthew wrote For The Love Of Power

Peanuts Comic: April 5th 1961

Political Power, unlike money, is a zero sum game.

In order for one to gain and consolidate more of it, another must lose it through neglect and carelessness or bitter struggle.

At the same time, power is not necessarily directly correlated with size. A large organization can run fluidly and freely given good leadership and skilled and involved members. A power-grabbing entity does tend to bloat with those drawn to power and the ease of corruption.

It is not size that corrupts, but immoral people.

The presidential race should give us each an opportunity to see honestly and completely the morals, ethics, and skills of those who would lead us but which instead tends to show us carefully scripted appearances controlled by any number of variously corrupt entities.

The candidates themselves try to control their images. None of them have nothing to hide, and therefore, they dodge and obfuscate.

The media, with it’s control over what is shown in living rooms across the world, has a powerful ability to shape the discourse. If it doesn’t show up on the nightly news, it didn’t happen.

Charles Kessler, in a speech before Hillsdale College summarized in In Primis, speaks to the difference between size and power, and how size and corruption are not necessarily related.

Juan Gonzalez, in the New York Daily News, tells the sordid tale of pork and corruption which has birthed an amazingly idiotic tax hike in downtown New York:

No one could recall such a naked combination of arm-twisting and pork-barrel handouts to pressure City Council members to approve the huge tax increase known as congestion pricing.

The real problem is always complex and deep, but a significant part of the root is that we, the people, don’t really care.

Like Charlie Brown’s baseball team, we don’t want to be held accountable for our government. We pass the buck to the elected officials, who pass the buck on and on.

If we and a larger percentage of the population of America took responsibility for our government, there would not be a problem of usurpation of power and conglomeration of authority.

An aware and concerned citizenry is a powerful citizenry and the bane of corrupt politics everywhere.

Matthew wrote McCain: “Why I Run For President”

The second half is mostly fluff, meant to tickle ears.

But the first half is a major difference between him and his current rivals, Clinton and Obama.

McCain on foreign policy:

Matthew wrote To Some, They’re Truth

The words of Jeremiah Wright, the wrong words he’s spoken and made a central part of his message for the 20 years Barak Hussein Obama has considered him a spiritual leader, to some, they are truth.

Mr. Wright, for I do not consider him to be worthy of reverence or title beyond that of a normal man, is not the only person to preach those words either.

They are a variant of the philosophy and world view known as Liberation Theology, specifically, Black Liberation Theology.

From GotQuestions.org:

Simply put, Liberation Theology is an attempt to interpret Scripture through the plight of the poor. It is largely a humanistic doctrine. It started in South America in the turbulent 1950′s when Marxism was making great gains among the poor because of its emphasis on the redistribution of wealth, allowing poor peasants to share in the wealth of the colonial elite and thus upgrade their economic status in life. As a theology, it has very strong Roman Catholic roots.

Liberation Theology was bolstered in 1968 at the Second Latin American Bishops Conference which met in Medellin, Colombia. The idea was to study the Bible and to fight for social justice in Christian (Catholic) communities. Since the only governmental model for the redistribution of the wealth in a South American country was a Marxist model (gained in the turbulent 1950′s), the redistribution of wealth to raise the economic standards of the poor in South America took on a definite Marxist flavor. Since those who had money were very reluctant to part with it in any wealth redistribution model, the use of a populist (read poor) revolt was encouraged by those who worked most closely with the poor. As a result, the Liberation Theology model was mired in Marxist dogma and revolutionary causes…

…Liberation Theology has moved from the poor peasants in South America to the poor blacks in America. We now have Black Liberation Theology being preached in the black community. It is the same Marxist, revolutionary, humanistic philosophy found in South American Liberation Theology and has no more claim for a scriptural basis than the South American model has.

The race problem in America is real, that is undeniably true. But I do not think it is true in the way many assume it to be.

First, slavery was an inexcusable evil and a dark time for America. Today, many of us can trace roots back to those who participated, freely or under coercion, in slavery in America.

But at the same time, many of us can’t. And a significant majority have ancestors from the both the ideological North and South in their blood, as well as those who had no part at all. There has been significant immigration by all races to America after the conclusion of the Civil War and the active work of slavery.

The continuing and very real race issue was summed up by a new friend of Ed Kaitz’s. Ed had been spending time with the Vietnamese immigrants who’d settled in the Bayous of Louisiana, and while flying home he met a an American Black who’d been studying psychology and working as a prison psychologist in Missouri.

Ed tells it like this:

His answer, only a few words, not only floored me but became sort of a razor that has allowed me ever since to slice through all of the rhetoric regarding race relations that Democrats shovel our way during election season:

“We’re owed and they aren’t.”

In short, he concluded, “they’re hungry and we think we’re owed.  It’s crushing us, and as long as we think we’re owed we’re going nowhere.”

“They” are the Vietnamese Ed had spent time with, “we” are the gentleman’s own race, his fellow American Blacks.

Ed concludes his commentary on Obama’s inability to recognize the powerful forces of good in his life and the state of racism in America with this call to recognize real sources of ability and equality, accomplishment and future:

We now know that Barack Obama really has no interest in the “audacity of hope.”  With his race speech, Obama became a peddler of angst, resentment and despair.  Too bad he doesn’t direct that angst at the liberal establishment that has sold black people a bill of goods since the 1960s.  What Obama seems angry about is America itself and what it stands for; the same America that has provided fabulous opportunities for what my black friend called “hungry” minorities.  Strong families, self-reliance, and a spirit of entrepreneurship should be held up as ideals for all races to emulate.

Read Obama’s Anger at American Thinker.

Doug Ross, at Opinion Journal, quotes Nicholas Stix in Mens News Daily regarding Barak Hussein Obama’s run against Alan Keyes. Regarding Barak’s religion Nicholas has this to say:

…Obama’s closest religious advisers — Fr. Pfleger, the Rev. Jeremiah Wright of Chicago’s Trinity United Church of Christ, and Illinois State Sen. James Meeks, who moonlights as the pastor of Chicago’s Salem Baptist Church – may have quotes from Scripture always handy, but are theologically closer to Karl Marx and black nationalism, than to Christianity… The transcendent-non-transcendent motto the Rev. Wright has given Trinity is, “Unashamedly Black and Unapologetically Christian.”

Yes, we need a Marxist president. Exactly what the country needs.

More information on Black Liberation ideology.

LA Times speaks with moral relativism and class warfare.

Roger Simon writes, in homage to Andrew Goodman “Barak, I didn’t do it for this

And what about the New Black Panthers?

Matthew wrote Dead Sexy

In a previous article, Priorities Of Preservation, I discussed the importance Christianity puts on the entirety of an person: body, mind, and spirit.

While the world, in a misguided and myopic view constrained by sin, only really cares for the preservation of the body. And through ignorance, loses the whole person.

In a report released last week which most have already heard of or commented on, it was noted that 1/4 of the US Teenage Female population is infected with one of several Sexually Transmitted Diseases.

The immediate cry was that Abstinence Education must be completely abandoned and further explanation of the ins and outs of safe sex be taught to every child.

I find those making that argument to be their own worst enemies, and I am determined to sit and watch them tear themselves apart trying to make sense of what they’ve said.

Better have a good belt to hold these sides in. The problem is, this is no laughing matter: peoples lives are at stake.
At the blog dbTechno (“Providing Science And Technology News Since 1996″) under the headline “Teens Having Sex, Getting STD’s Due To Lack Of Knowledge” (strongly caution) there is a small picture of three bikini-clad young women shaking their derrières before the camera. This was the picture Google had selected on it’s news aggregator to highlight the several articles on this topic this morning.

In our sexified culture it is considered “emancipated” for a woman to be so “comfortable” with her sexuality that she feels willing to flaunt her body either scantily clothed or free of clothes before the whole world.

I don’t think that it is a sign of a healthy self-image that women are willing and even choose to clothe themselves that way.

I am not for arbitrary requirements in clothing, but it is saddening that, younger and younger, we are compelling out daughters and sisters to choose between frumpy and scandalous.

Removing their modesty with bits of lycra and spandex.

Revealing their bodies for the eyes of all the world.

And then we worry that too many of them are having sex.

I think a healthy self image will result in true self-worth, where the woman will not feel compelled to dress “sexy” to get the approval and acceptance of others.

When a woman is dressing revealingly they are revealing their insecurity, not their assuredness.

The Florida Sun-Sentinel Editorial Board this morning published an article titled “Abstinence-Only Education Needs To Go” (no scandalous images here) in which they completely demolish their own claims, twice.

First, early in the article they lay claim to the moral high ground:

From here, it would be easy to play the blame game. But that would be unproductive. It doesn’t matter if you’re the pro-sex education or abstinence-only type, the statistics speak for themselves, and what matters most is that something be done to make our children more sexually responsible and safe.

And then, in the very next paragraph:

Let’s start with re-tooling the failed abstinence-only approach backed by the Bush administration. Let’s teach teenagers about contraceptives and other precautions that could help protect them if they are sexually active.

Yes, lets avoid the blame game, and lets look at the facts. The Bush Administration has indeed backed and supported an abstinence-only education approach, because no one who practices abstinence contracts an STD, no one. It make sense to back a winner. But how many education programs has the Bush Administrations policy actually affected? Good question.

I would be willing to bet that with state policy, and NEA policy, and DoE policy, there is precious little abstinence-only education going on in the public schools of America.

The article then goes on to make an astounding statement. I very nearly cheered, at work, when I read this:

Abstinence teaching has its merits. It not only promotes a sure-proof defense against STDs and unwanted pregnancies, but also the idea that sexual activity requires a high level of maturity and understanding. An adolescent who engages in “protected” sex prematurely may not run the risk of physical infections, but could be exposed to long-term emotional and psychological damage.

And then gets to the…

BOTTOM LINE: Place more emphasis on contraceptives and STDs in sex-education classes.

And they reached that how?

With this simple caveat they have attempted to justify their entire tortured argument, and by extension, rationalize their continued support for the torture of young minds and bodies with illness both physical and psychological:

Like it or not, half of the teenage girls in this country are already sexually active, according to the study. Something has to be done to make them wiser in their choices, or we soon could have an even bigger public health crisis on our hands.

Do they not see the cruel irony?

Because we’re a bunch hapless, helpless dolts who’ve bought the lie that children are capable of making their own informed decisions regarding sex and mature relationships.

Because we’re a bunch of laissez-faire non-present parental units who feel no particular responsibility to counter the culture’s claims that boys are animals and girls are meat.

Because we’re a bunch of lazy do-gooders who value intentions over actions and outcomes and are willing to allow our children to do whatever they please so long as it makes them feel good.

We will complete ignore what we already know to be true: that premature involvement in adult relationships, emotional and physical, will not only harm the body but will also damage the mind.

So long as we tell enough of them to use condoms, we are perfectly willing to let them hop into bed with any yahoo or floozy who comes along.

Yea, that’s advanced society and parental love for you.

See also:

The Condom Conspiracy: Sex, Lies, STIs and Teenage Girls – the evangelical outpost

While we have Planned Parenthood and sex educators claiming that condoms can “offer effective protection against most serious sexually transmitted infections” the report finds there’s no scientific basis for that claim.

STD Data Comes As No Surprise, Area Teenagers Say – Laura Sessions Stepp and Katherine Shaver in the Washington Post

The Marrow girls offered several reasons why teenagers have sex.

“It’s to fit in, peer pressure,” Christine said, noting that virgins are often mocked. Also, “sex sells on TV.”

Khadijah chimed in that some young girls found their inspiration in the popular R&B singer Rihanna, whose latest album is titled “Good Girl Gone Bad.”

But Christina suggested something closer to home. “Write this down,” she said. “Bad parenting.”

Paul wrote The “Tanking” Economy, the Housing Bubble, and What Happened

         The New York Stock Exchange has been down a lot over the past couple of months.  It’s down about fifteen percent from its high of just over 14,000.  Many people are wondering why and how far it is going to fall.  This is my attempt to explain why it has been falling.

            Our story actually begins in the housing and sub-prime loan markets.  As many of you know, mortgage companies don’t actually have the millions and millions of dollars they loan to homebuyers.  What they do instead is make a loan, say for $250,000, and try to find some investor (generally a bank or some other financial entity) to buy the mortgage.  The company serves as a middle man between the homebuyer and large financial institutions. 

            What has begun happening recently is firms have been buying large numbers of mortgages of all different sizes and interest rates and rolling them into one package, kind of like a mutual fund.  They then began to sell shares of this “fund” to investors and investment banks.  This has never been done before.  People on Wall Street have never been able to buy shares in a mortgage security because mortgage securities didn’t exist.

            Now investments are rated based upon their safety as an investment.  For example, a triple AAA rating means that the stock or mutual fund you are buying is pretty safe and unlikely to fall far in value – wiping out your investment.  It also means the return will probably not be as high as other investments.  A single A rating means that the stock isn’t as safe as the triple AAA, but could potentially have a higher return. 

            Well the various companies that have created the rating system needed to rate these mortgage securities.  In some cases they gave triple A ratings, in others double and single A ratings.  Then the mortgage securities were marketed based on these ratings.

            So like any bubble, there was far too much exuberance in the market for these funds and they were overpriced and overrated.  That was one problem.  The deeper problem, however, is that mortgage companies began making lots of bad loans (e.g. requiring no down payments from the people they were lending to, not checking credit history, proof of income, etc.)  This was not a big problem until the housing market started to slump. 

When the values of houses started falling, those people who had taken a $400,000 mortgage out on a $400,000 house found themselves with a $400,000 mortgage on a house that was now worth $350,000.  Not a good place to be.  So they just walked away (that means the bank foreclosed on their house.)  But no one is in a good situation here.  The bank is left with a house worth less than the loan it made and these people are down a home.  There were a couple of other issues about variable interest rates that I won’t go into here.  The point is that there was a huge increase in the number of people defaulting on their mortgage loans.

            So big picture, these mortgage based securities that were being doled out like mutual funds, started collapsing.  All of a sudden people began to realize that these securities were not as valuable as they had initially thought.  So the price began to plummet.  And to make things worse, no one really knows how to evaluate the worth of these securities.  The fact that they are so new and the rates of defaults on loans are variable makes people afraid to purchase the securities; even after they have fallen substantially in price. 

            Here’s where it affects the credit market.  Some of the chief buyers of these securities were giant investment banks, Merrill Lynch, Bear Stearns, Morgan Stanley, etc.  The investment bankers at these firms made varying degrees of stupid decisions.  At Bear Stearns, for example, the investment bankers bought the securities on margin, which means they were borrowing money against their current assets to buy more shares of the securities.  Though always a risky idea, if your investments are good it’s not a problem.  Once these securities started crashing though, the market froze.  No one was willing to buy but everyone wanted to sell.  So Bear Sterns went from having 800 billion dollars worth of securities in its investment branch to 300 billion dollars worth in a week or two (Note, these are not the literal numbers but they are characteristic of the idea).  And, because they had bought on margin, they still owed the hundreds of billions of dollars they had borrowed.

           This is why the market is unhappy.  Hundreds of billions of dollars have just disappeared.  These are not literal paper dollars, but electronic dollars in the credit market.  This is one of the reasons why it is difficult to take out new loans.  The Federal Reserve has stepped in to try and fix the problem, but that is a completely different story.

            What does this mean?  Well, credit markets are in turmoil.  No one knows how to value these securities.  A number of lending companies have gone bankrupt.  These financial problems affect the economy by limiting business’s and individual’s ability to borrow money for various projects.  Don’t panic, it’s not the end of the world.  Give the market time to sort itself out.  We tend to overly concerned about the immediate present rather than the future.  So what if one quarter has slow growth, or even negative growth?  There will be hardship for some people, but the market will come back if left unhindered by government intervention.  Also, it will come back quicker if consumer’s had more confidence.  Consumer confidence tends to be a self-fulfilling prophecy as to the performance of the market, at least in the short run.  So be patient, things will get better. 

Written by Paul in: I Pandora | Tags: , , , , , , ,

Matthew wrote Now That It’s Clear

With McCain having actually won the nomination, free and clear, the real work begins. We must not only convince American conservatives that McCain is a workable choice that we should be willing to put effort into electing, we must also show Americans in general how McCain is so vastly superior a choice for effective and constitutional leadership of America.

To do this there ought to be a “dream team” of the former presidential contenders, working together, giving speeches, stumping for McCain.

I have often thought one of the biggest failures of conservatism is it’s inability to spread it message effectively.

Liberalism has the entire university and college and public school system. It has the media and the combined peer pressure of millions of sheeple living around us.

Conservatism exists because people in the real world, working hard and living on the fruits of their own labor, realize the purpose and power of personal property and the necessity of personal responsibility and moral self-governance.

We need to get this message out, showing incontrovertible proof of the superiority of conservative principles in all of life.

The way we do this without the ‘help’ the left gets for their ideas from bastions of culture, is to make it so accessible and frequent as to be unavoidable by the common masses and our intellectual enemies, those who need more convincing.

This is not politics, this is necessity.

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