Mercury Rising 鳯女

Politics, life, and other things that matter

Archive for February 27th, 2007

The Republicans Must Really Fear Al Gore…

Posted by Phoenix Woman on February 27, 2007

…as they’re doing their best to hamstring him even though he’s not running for elective office.

 The latest smear, as transmitted by the GOP’s longtime online smear transmitter Matt Drudge:  “Gore’s an energy hypocrite!”  Of course, this is utter bollocks, as shown here.

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Posted in Al Gore, distractions, GOP/Media Complex, hypocrites, Media machine, mediawhores, Republicans acting badly | 1 Comment »

Yeah, That’ll Work

Posted by MEC on February 27, 2007

Speaking at the National Press Club, Governor Napolitano of Arizona described Bush’s immigration reform:

“We’re going to get 11 million people to show up [at the immigration office] and say, ‘I’m here, deport me so I can come back’.”

Just in case anybody thought Bush was serious about actually improving the situation.

Posted in Bush, Democrats with spines, immigration, Jane Napolitano, tutu-less Democrats | Comments Off on Yeah, That’ll Work

It’s an interesting day to watch the markets

Posted by Charles II on February 27, 2007

As I start writing this, the markets are down nearly 1.5%, with small stocks down over 2%. But the Chinese market is down almost 10%, and emerging markets are down roughly 5%.  Basic materials are down, except for oil. The dollar is off almost half a percent vs. the Euro and 1.7% off the Yen.  European markets are up by half a percent.

So, here is the patter:

  • Supposedly the Chinese government threatened to intervene in their markets, so people took profits.
  • Durable goods orders are way down (-7.8%).
  • Spreading nervousness about subprime lending.
  • Greenspan says there may be a recession by year’s end
  • But, consumer confidence is up
  • And index of leading indicators are up for a second month (though slightly less than expected)
  • And, existing home sales rose (despite the fact that prices continue to fall)

 Volume is persuasive. Trading curbs in effect.

 What’s interesting is the nervousness.

 ________________

Update: the market briefly went into a free fall, where there were no buyers at all, so the Dow fell instantaneously by about 200 points. That isn’t so much, really, nor was the maximum drop (so far) of 542 points, according to Yahoo. But the conditions for a panic are in place.

Correction 2/28: the computers were supposedly overwhelmed and got backlogged. Still, it was pretty eerie having the index suddenly adjust downward.

Posted in economy, stock market | Comments Off on It’s an interesting day to watch the markets

Tim Walz Stops Planned $2.3 Billion Raid On Treasury

Posted by Phoenix Woman on February 27, 2007

Well, the highway-robbery attempt by the Dakota, Minnesota and Eastern — whose chief Congressional backer, Senator John Thune (R-SD), was the DM&E’s chief lobbyist before entering the Senate — just got shot down, and Tim Walz — the newly-minted Democratic Representative for Minnesota’s First Congressional District — played a big role. Bluestem Prairie has the news:

Today, Rep. Walz announced that the Department of Transportation Credit Council has rejected the loan application submitted by the Dakota, Minnesota & Eastern Railroad. Walz spoke with Transportation Secretary Mary Peters earlier today who confirmed that the Credit Council denied the $2.3 billion loan application.

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“This is a victory for good government and accountability,” said Walz. “The citizens of this district demanded close scrutiny of this loan and they got it. This loan proposal brought people from all walks of life together to insist that members of Congress better monitor taxpayer funds. I believe that today’s decision is a direct result of congressional and citizen inquiry and oversight.”

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“Let me reassure the citizens of southern Minnesota that I support expanded rail service. My objective has always been to ensure proper oversight of this loan occurs,” said Walz. “Today we can start moving forward. We can work together to expand rail access in a responsible way that protects citizens and communities while expanding economic opportunity for agricultural producers and energy providers.”

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“Despite the fact that this loan is no longer under consideration, I will continue to move forward with the legislation I recently introduced. The “Congress Must Co-Sign Act” requires that the Congress exercise appropriate oversight, should a similar situation arise in the future,” said Walz.

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Walz, a freshman member of Minnesota’s congressional delegation campaigned on the lack of congressional oversight with regard to the proposed DM&E Railroad Expansion project. Walz has consistently called for increased accountability, transparency and attention to safety concerns.

The DM&E wanted the money to get access to the Powder River coal beds, even though 1) those coal-hauling contracts are all sewn up with other, bigger lines, 2) there was no way in hell that the DM&E could have paid off the loan (their financials are a horrorshow: the debt-to-earnings ratio is particularly bad), which is why they went to the Feds in the first place: No private lending institution would touch them.

Posted in Democrats, Democrats with spines, Good Things, Tim Walz, tutu-less Democrats | 2 Comments »

The Backstabbing Of Black Jack Murtha

Posted by Phoenix Woman on February 27, 2007

Arianna has the goods.

Posted in Uncategorized | Comments Off on The Backstabbing Of Black Jack Murtha

Oh, Jesus, Mary And Joseph!

Posted by Phoenix Woman on February 27, 2007

Speaking of stuff that is Not News:

Would  somebody tell James Cameron that 1) Yeshua, Maria, Yosef, and Yehuda were common-as-dirt names in Roman-occupied Palestine two millenia ago, and 2) ossuaries were for the richest of the rich, and Jesus’s adopted dad and his mother were dirt-poor as were most people in that time and place?

But this is all over cable and even network TV lately.  Eeeeeech.

Posted in Uncategorized | 9 Comments »

What’s News And What’s Not

Posted by Phoenix Woman on February 27, 2007

This Project for Excellence in Journalism post on the stories covered by different American news media is pretty revealing.

Among newspapers, radio and online news sources, the top five news-hole fillers for the week just past were mostly hard-news stories, such as the Walter Reed scandal. The one soft-news story, that of the rescued Mt. Hood climbers, was #5 on the list. Stories on Iraq-related topics and politics dominated the list.

TV news was another story. Anna Nicole Smith was the #4 story for the network news, and by far the #1 story for the cable TV news. In other words, “cable TV news” is a misnomer unless you’re watching The Colbert Report, The Daily Show, or the BBC feed.

Posted in beat the press, media, Media machine, mediawhores | Comments Off on What’s News And What’s Not

 
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