Mercury Rising 鳯女

Politics, life, and other things that matter

Archive for March 5th, 2007

Watch excerpts from CPAC

Posted by Charles II on March 5, 2007

Max Blumenthal of The Nation shows what conservatives look like.

So does Tom Tomorrow (via Atrios).

Posted in Republicans acting badly | Comments Off on Watch excerpts from CPAC

Hey, Look! Possible Actual Consequences For Republican Wrongdoing!

Posted by Phoenix Woman on March 5, 2007

CREW urges Congress to go after Pajamas Senator Domenici for his going after Iglesias (h/t Atrios).

UPDATE (from SFGate.com and TPM via Atrios) :

— Michael Battle has resigned; he was the executive director of the Executive Office for United States Attorneys and the guy who carried out the Pearl Harbor hit on the fired US Attorneys last December 7.

— Looks like Abu Gonzales didn’t succeed in purging all the honest people from the Justice Department (emphases mine):

The Justice Department said Monday that Republican Sen. Pete Domenici of New Mexico called Attorney General Alberto Gonzales four times to complain about a U.S. attorney who claims he was fired for not rushing a corruption probe.

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Domenici acknowledged Sunday that he contacted the prosecutor, U.S. attorney David Iglesias, in October 2006 to ask about his investigation into an alleged Democratic kickback scheme. But Domenici insists he never pressured or threatened Iglesias, though he said he had long sought Iglesias’ ouster.

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On Monday, Justice officials said that Domenici had called Gonzales on three occasions — September 2005, as well as in January and April 2006 — to question whether Iglesias was “up to the job.”

Thing is, if Domenici was contacting Gonzales about this eighteen months ago, it was Gonzales’ duty to slap Pajama Pete down then. And whoever leaked this knows it. That’s why it’s a twofer hit: Pete and Abu, sitting in a swing….

Posted in corruption, GOP bullying, looney tunes, Pete Domenici, Republicans, Republicans acting badly, Silly Republicans | Comments Off on Hey, Look! Possible Actual Consequences For Republican Wrongdoing!

Nikkei taking a shellacking

Posted by Charles II on March 5, 2007

This is not good:

NIKKEI 225 03/05 – close 16,642.25 -575.68
Yen/dollar 115.78 -2.01.

Speculators are trying to unwind the yen carry trade. They will probably succeed.

US markets likely to take a 3-4% hit. Other markets probably more.

The correction has, in my opinion, now really started. Watch out below.

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Update: US markets up or even at this moment, despite a 3.5% decline in the Nikkei (and similar losses throughout Asia; more like -1% elsewhere). I would be happy to be proven wrong that the market is headed lower, even against any personal benefit.

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Update: A very interesting article from HBV Group (pdf, sorry about the unaffixed link, but WP has gone bolshy: http://mediaserver.fxstreet.com/Reports/2a585f32-5c3a-4539-970b-4be9098205f0/e595f754-0530-4664-aadc-7e92d9944536.pdf). The key information:

The world is literally awash with liquidity. According to our calculations, global money supply has risen much more rapidly than the corresponding nominal GDP over the last ten years. The ratio increased by a stunning 25%!

Roughly one third of this liquidity overhang stems from the eurozone with a still rising trend. But Japan and China also made a substantial contribution. In contrast, excess liquidity in the US declined during the last Fed tightening cycle. Recently, however, US money supply growth has also accelerated again, leaving most borrowers with sufficient liquidity.

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PW butts in, as the comments are down:

ChartingStocks.net says we’re in a bear market right now and the Crash of 2007 has begun.

Posted in Uncategorized | 1 Comment »

The Joshua Generation

Posted by Charles II on March 5, 2007

Barack Obama is not my first choice for president, but at the Voting Rights commemoration, he showed how he has mastered the persuasive skills of leadership.

As a member of the United Church of Christ, he’s on the liberal edge of Christianity. But he connected beautifully with an audience of conservative southern (mostly) African Americans by analogizing Martin Luther King as Moses (as King himself did in his last speech) and the present generation, including Obama, as “the Joshua generation” Joshua, of course, was Moses’s aide de camp, who is credited with conquering Canaan after Moses’s death.

 It is an image that is both humble and inspirational.

People wonder what makes a great leader. This ability to develop images that inspire is one of the key skills. 

The one thing about which there is no doubt is that he would be a better president than George Dubya Bush.  

Posted in Barack Obama | 2 Comments »

 
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