Thursday, March 26, 2009
From the Wire:
Track "hi-cap" magazines in CA (http://www.contracostatimes.com/politics/ci_11995689?nclick_check=1). Foolish, feel-good legislation. It is already illegal to purchase or import these magazines... Are criminals who are importing illegal magazines going to register them with the state?
Budget initiatives likely to fail (http://www.latimes.com/news/local/la-me-poll26-2009mar26,0,3460616.story?track=rss).
Out of towners fined for auto accidents (http://www.capitolweekly.net/article.php?xid=xv0mgfaqsfpvtx).
Wednesday, March 25, 2009
From the Wire:
Monday, March 23, 2009
From the Wire:
Drone war in Pakistan continues (http://blog.wired.com/defense/2009/03/finally-we-took.html#more). Very dangerous... and perhaps needed. I actually applaud Obama's willingness to take a needed risk. But he needs to be very cautious on how he deals with Pakistan. Clearly they tacitly support his actions--hasn't been too many public complaints.
F-22 fighter to Japan (http://www.defenseindustrydaily.com/f22-raptors-to-japan-01909/#more-1909)? Why not? The Japanese are one of our closest allies and it will allow the production lines to stay open and cut the cost per plane...
Army: potential soldiers too fat (http://abcnews.go.com/Health/story?id=7142589). When I went to MEPS (military entry processing station) a large number of the recruits were WAY overweight... Dumber, fatter military in the future?
Very nice little op-ed piece on CNN.com (http://www.cnn.com/2009/LIVING/03/03/cafferty.excerpt.2/index.html). I agree--kids are terrible these days.
Market up (lead by financials) after .gov launches plan to buy toxic assets (http://www.google.com/finance?hl=en&tab=we). I just hope the DOW hits 10k so I can sell all my stocks. I'll take my losses to get out! I've lost all faith in Wall Street.
Treasury expected to create entity to purchase toxic assets (http://www.latimes.com/business/la-fi-bank-plan23-2009mar23,0,5861392.story?track=rss). Bailout continues full steam ahead.
Gold appears stable at around $950 (http://www.kitco.com/market/). I like it when both the market and gold are up.
Lobbyists rely on Capitol dysfunction to push agendas (http://www.latimes.com/news/columnists/la-me-cap23-2009mar23,0,4011494.column?page=1&track=rss). We should be honest with ourselves, California is broken. Sure special interests play a part in the dysfunction--but we need to blame ourselves for voting in bad legislators.
Governor calls for infrastructure improvement (http://www.latimes.com/news/local/la-me-arnold23-2009mar23,0,2632857.story?track=rss). I agree, our highways suck... But how will we pay for these improvements?
Local .gov having trouble raising funds (http://www.sacbee.com/walters/story/1720688.html?mi_rss=Dan%20Walters). Prop. 13 does really hamper local .gov fundraising... But it is really the only thing keeping spending in check in California and keeping the Republicans relevant in our jerry-mandered state.
Newsom touts "centrist" position (http://www.latimes.com/news/local/la-me-newsom23-2009mar23,0,3274439.story?track=rss). Haha. If he wins I am out of here.
Oakland police killing--SWAT didn't expect an AK-47 (http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/03/22/BAV116KEU0.DTL&feed=rss.matierandross). I thought AK-47s and other dangerous assault weapons were illegal in California? This gentleman must not have gotten the message.
Vote on extended unemployment benefits (http://www.sacbee.com/topstories/story/1720681.html?mi_rss=Top%20Stories). I feel for those who are unemployed, but again, where is the money going to come from? Tax the rich?
Mexican drug cartels branch into human smuggling (http://www.latimes.com/news/la-na-human-smuggling23-2009mar23,0,5530360.story?track=rss). Bad men do bad things.
"Pink Pistols" back easing of concealed carry law (http://www.sacbee.com/topstories/story/1720695.html?mi_rss=Top%20Stories). I am torn on this--WA has a shall issue regime for concealed carry permits which seems to work well--but CA is full of a lot of undesirables... I believe I should be able to carry; I'm just not sure about the rest of you...
Commentators ask: end of the U.S. (http://network.nationalpost.com/np/blogs/fpcomment/archive/2009/03/19/terence-corcoran-is-this-the-end-of-america.aspx)?
Dollar declines most since 1985 (http://www.bloomberg.com/apps/news?pid=20601087&sid=aNdu22y30zwc&refer=worldwide). Great... Where should I put my money?
AIG warns staff to travel in pairs after death threats (http://www.guardian.co.uk/business/2009/mar/21/aig-insurance).
DiFi calls for tougher gun laws in U.S. to help with Mexican drug war (http://www.kpbs.org/news/local;id=14130). Great solution to the problem in Mexico! Tighten U.S. gun laws! Why not just secure the border and stop the flow of drugs and illegals northward and the guns southward?
Friday, March 20, 2009
From the Wire:
CA state pension fund in trouble (http://calpensions.com/2009/03/20/calpers-lost-decade-from-boom-to-bust/). It is important to remember that public and quasi-public institutional investors are major players in the economic system. The average American has quite a stake in "Wall Street".
CA bond rating falls further (http://latimesblogs.latimes.com/money_co/2009/03/california-bo-2.html). Meanwhile the state is trying to sell $4 billion in new bonds (http://www.latimes.com/business/la-fi-calbonds20-2009mar20,0,21791.story).
Media cuts and lobbyists (http://www.latimes.com/news/local/la-et-rainey20-2009mar20,0,7281321.story).
Useless ca.gov jobs: lieutenant governor (http://www.sacbee.com/politics/story/1714925.html?mi_rss=State%2520Politics). Make the Lt. Gov. a member of various boards, commissions, etc. with no extra pay...
Barry in CA; Speaks with Schwarzenegger, Leno, etc. (http://totalbuzz.freedomblogging.com/2009/03/19/governor-and-obama-trade-complements-at-la-town-hall/14711/). No comment.
Chinese antitrust action against Coke fails to live up to international norms (http://www.cnbc.com/id/29784582).
Wealthy hedge fund town feels financial pinch (http://www.bloomberg.com/apps/news?pid=20601109&sid=arOzIUvhbr1o&refer=home).
Navy surface fleet in bad shape (http://www.defensetech.org/archives/004751.html). Maintenance of existing assets and further innovation in the naval sphere is vital to our ability to implement our national security obligations. But, the Navy seems to have a few big dollar projects that are questionable. Hopefully this issue receives the attention it deserves.
"Blue Dog" dems vital to Barry's agenda (http://www.bloomberg.com/apps/news?pid=20601070&sid=aK8UQZdsNYwk&refer=home). Too bad CA doesn't elect more "blue dog" state reps.
Private contracting for military in air refueling (http://www.defenseindustrydaily.com/US-Military-Contracts-for-Private-Aerial-Refueling-Services-04802/#more-4802). (Note: Air Force competition between Boeing and Airbus entries has had some issues. US in dire need of in air refueling assets).
Russian President: Time to Re-arm (http://blog.wired.com/defense/2009/03/russias-prez-ti.html#more). Russia sure has been trying to act tough lately.
U.C. Board of Regents backs new nursing school at U.C. Davis (http://www.sacbee.com/ourregion/story/1714969.html?mi_rss=Our%2520Region). This type of stimulus is useful. Fast growing inland CA regions need more medical infrastructure.
Monday, March 16, 2009
From the Wire
US military shoots down Iranian drone over Iraq(http://blog.wired.com/defense/2009/03/confirmed-us-do.html).
US could wage financial warfare in these trying economic times (http://blog.wired.com/defense/2009/03/finance-threat.html).
From the Wire:
From the Wire:
Thursday, March 12, 2009
From the Wire
CA residents: no split state (http://www.sacbee.com/topstories/story/1692396.html?mi_rss=Top%20Stories).
Tuesday, March 10, 2009
Brief update from South America
From the Wire:
Monday, March 9, 2009
Commentary on Judicial Appointments
Friday, March 6, 2009
From the Wire:
Thursday, March 5, 2009
Off to South America...
Russian "Scholar": US Collapse by 2011
From the Wire:
Economy:
Market way down: (http://www.google.com/finance?hl=en&tab=we).
China mulls economic stimulus: (http://www.marketwatch.com/news/story/chinas-lawmakers-weigh-stimulus-though/story.aspx?guid=F544BDAE-7547-44AA-8AE2-CE0642B01BE0&dist=SecEditorsPicks).
Gold up: (http://www.kitco.com/market/).
GM: "substantial doubt" of viability (http://money.cnn.com/2009/03/05/news/companies/GM_10K/?postversion=2009030506).
Citi Group stock below $1. Value at $5.5 billion from $55 billion high (http://www.bloomberg.com/apps/news?pid=20601087&sid=aKLJO8S5nFaU&refer=home).
Politics:
Feinstein front runner in hypothetical CA govenor race poll says(http://www.sacbee.com/topstories/story/1673204.html?mi_rss=Top%20Stories).
Obama + spending (http://www.cnn.com/2009/POLITICS/03/05/obama.pork/index.html).
Wednesday, March 4, 2009
Commentary on the Railroad Union
The union officials said cameras would not deter accidents because crew members would be doing their jobs regardless of whether they were being watched. They did say they would accept cameras if they were used strictly to investigate accidents, but not as monitoring devices.Can they be serious? Are the union officials really willing to assert that this particular engineer was doing his job? Because I think I can safely say that he was not doing his job, nor was he being watched. So I am incredibly puzzled by their logic on this. The cameras WOULD deter accidents exactly because crew memebers WOULD be doing their jobs because they WOULD know that they were being watched. I hope that the National Transportation Safety Board doesn't buy into this nonsense.
From the Wire:
Gold down for a variety of reasons (http://www.foxbusiness.com/story/markets/commodities/whats-golds-recent-slump/).
SF Fed: Recession bad in the West (http://latimesblogs.latimes.com/money_co/2009/03/fed-recession-w.html).
1/5 O.C. homeowners have negative equity in their homes (http://mortgage.freedomblogging.com/2009/03/04/1-in-5-oc-homeowners-with-loans-are-underwater/7423/).
Revised commentary on the CA budget, analysis and comments to come: (http://www.dof.ca.gov/budget/historical/2009-10/documents/Budget_Agreement_Full-Package-w.pdf).
No correlation found between hate crimes and the state of the economy, yet the "total number of hate groups operating in the U.S. has increased by more than half since 2000, according to a new report by the Southern Poverty Law Center." So what is driving the resurgence of hate?
(http://freakonomics.blogs.nytimes.com/2009/03/04/the-recession-and-the-klan/)
Discussion of public transportation in Los Angeles, a place where the car is king, defending the mass transit system that LA has developed, and comparing its ridership with other major US cities. LA claims 2% ridership, while SF claims 5% and NY claims 10%. (FYI: Paris is at 20%, and Tokyo is at 50%).
(http://freakonomics.blogs.nytimes.com/2009/03/03/los-angeles-transportation-facts-and-fiction-transit/)
What do we need to do to improve mass transit ridership in this country? Will the heavy rail spanning California will be successful in drawing passengers?
From the Wire:
Doctor wants to give soldiers MDMA (http://blog.wired.com/defense/2009/03/mdma-ptsd.html#more).
Barry to Russia: No more "Star Wars" for help with dealing with Iran nuclear issue (http://blog.wired.com/defense/2009/03/the-painstaking.html#more)?
Are we in a depression (http://www.cnbc.com/id/29510268)?
Pundit: Kneale: Is Obama Out of His Freakin' Mind? Critical of "tax and spend" thus far(http://www.cnbc.com/id/29510052).
Americans pulling back from 3-car families (http://www.cnbc.com/id/29508409)?
Feds: $75 billion to "starve off foreclosures" (http://www.washingtonpost.com/wp-dyn/content/story/2009/03/04/ST2009030401759.html).
SCOTUS: US consumers can sue drug makers for inadequate labelling (http://www.bloomberg.com/apps/news?pid=20601087&sid=aJHVUGV0Aw4U&refer=home).
More than 8.3 million owe more than home value (http://www.bloomberg.com/apps/news?pid=20601213&sid=amoql5AqN9z4&refer=home).
US and UK to fix world problems (http://edition.cnn.com/2009/POLITICS/03/04/gordon.brown.congress/).
From the Wire
Post-partisan govenor? Dems and Reps both negative on Schwarzenegger (http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/03/04/BAG4168L44.DTL&feed=rss.matierandross).
Assembly Speaker strips "wayway" dems of committees (http://www.latimes.com/news/local/la-me-bass4-2009mar04,0,1890039.story?track=rss).
CA voters asked to approve more taxes during special election (http://www.contracostatimes.com/politics/ci_11829592)... and they seem to support doing so (http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/03/03/BA7Q167T1D.DTL).
Tuesday, March 3, 2009
Tweet*:
Freedom in the 50 States: Index of Personal and Economic Freedom:
"We find that the freest states in the country are New Hampshire, Colorado, and South Dakota, which together achieve a virtual tie for first place. All three states feature low taxes and government spending and middling levels of regulation and paternalism. New York is the least free by a considerable margin, followed by New Jersey, Rhode Island, California, and Maryland. On personal freedom alone, Alaska is the clear winner, while Maryland brings up the rear. As for freedom in the different regions of the country, the Mountain and West North Central regions are the freest overall while the Middle Atlantic lags far behind on both economic and personal freedom," (http://www.statepolicyindex.com/?page_id=143).
*not really a tweet (http://en.wikipedia.org/wiki/Micro-blog).
An interesting article...
Don't agree with everything; but there are some good points. Here were some quotes I liked:
"Those of us in the moderate tradition — the Hamiltonian tradition that believes in limited but energetic government — thus find ourselves facing a void. We moderates are going to have to assert ourselves. We’re going to have to take a centrist tendency that has been politically feckless and intellectually vapid and turn it into an influential force."
"But beyond that, moderates will have to sketch out an alternative vision. This is a vision of a nation in which we’re all in it together — in which burdens are shared broadly, rather than simply inflicted upon a small minority. This is a vision of a nation that does not try to build prosperity on a foundation of debt. This is a vision that puts competitiveness and growth first, not redistribution first."
Response to Prop. 8 Legal Commentary
Prop. 8 Legal Commentary

Proposition 8 was passed after the California Supreme Court struck down the initiative statute Proposition 22 ("California Defense of Marriage Act") of 2000 in May 2008 (see In Re Marriage Cases (43 Cal.4th 757 (2008)).
The most pressing legal issue raised by Proposition 8 is whether the change Proposition 8 makes to the California Constitution is an "amendment" or a "revision".
The Constitution does not define these critical terms. Therefore the California Supreme Court laid out a framework to aid in the determination whether a change to the Constitution is a revision or an amendment. The California Supreme Court case Raven v. Deukmejian (52 Cal.3d 336 (1990)) reaffirms that the test will focus on both the "quantitative" and "qualitative" effects of the change.
Quantitative effects must be “so extensive ... as to change directly the 'substantial entirety' of the Constitution by the deletion or alteration of numerous existing provisions ....” (Amador County (22 Cal. 3d 203 (1978). Qualitative effects are changes which causes "far reaching changes to our basic governmental plan" (Raven 352).
It will be very interesting to see how the Court decides this issue. I believe the Court has only struck down 1 change as a revision (I could be wrong on this point). This change deals with what the Court has defined as a civil right (marriage), it deals with separation of powers issues, and with democratic issues. The Court already ruled in the the In Re Marriage that the right to marriage is a fundamental right which extends to those seeking a gay marriage. Do the people have the power to overrule the Supreme Court's constitutional holding?
I think the answer will largely depend on how the Court views the democratic/republican tensions inherent in our system and how "fundamental" the majority coalition considers the right to marriage.
From the Wire:
President Obama's budget is so ambitious, with vast new spending on health care, energy independence, education and services for veterans, that experts say he probably will need to hire tens of thousands of new federal government workers to realize his goals (http://www.washingtonpost.com/wp-dyn/content/article/2009/03/02/AR2009030202935.html?wprss=rss_politics).
Economy:
Geithner "Financial Rescue may cost more" (http://www.bloomberg.com/apps/news?pid=20601103&sid=aQldZDlQpohE&refer=news). He also called for the restructuring of AIG.
General Electric Co. is reading the tea leaves of the troubled global economy and has found a new partner to help it weather the storm: government (http://www.marketwatch.com/news/story/ge-seeks-government-partnership-new/story.aspx?guid=%7B86C5CF5B-D7FA-4943-A78E-7A7055BE0C2F%7D&dist=msr_5).
Dow around 7700 and S&P under 700 (http://www.google.com/finance)
Obama: economy will not recover quickly--essential gov unfreeze credit markets (http://www.cnbc.com/id/29490661).
More taxpayer money to banks (http://www.cnbc.com/id/29491464).
Home sales down in Jan. (http://www.cnbc.com/id/29485224).
Bernanke claims AIG operated like a hedge fund. He is "more angry" about AIG than any other aspect of the financial crisis (http://www.bloomberg.com/apps/news?pid=20601103&sid=aCrzJbsxzKdk&refer=us).
Ford continues decline. Toyota has first loss in 59 years. Sales of Ford cars and trucks dropped to 99,400 from 192,799 from last year. Fewest sales in almost 27 years (http://www.bloomberg.com/apps/news?pid=20601087&sid=aNK9Q2yQV8yk&refer=home). Decline anticipated (http://www.cnbc.com/id/29490930). Detroit is in full retreat--sells off global empire (http://www.cnbc.com/id/29464505).
Next Bailout? Public pensions in the U.S. had total liabilities of $2.9 trillion as of Dec. 16, according to the researchers at Boston College. Their total assets are about 30 percent less than that, at $2 trillion. With stock market losses this year, public pensions in the U.S. are now underfunded by more than $1 trillion (http://www.bloomberg.com/apps/news?pid=20601109&sid=alwTE0Z5.1EA&refer=home).
Politics:
CA legislature resolves that Prop. 8 is unconstitutional--Sen. Leno (San Francisco) argued on the floor of the Senate that Prop. 8 violates the California Constitution because it is a "revision" not an "amendment". California Republican describes resolution as a waste of time (http://www.sacbee.com/topstories/story/1666044.html?mi_rss=Top%20Stories).
Defense:
Bush Justice Department opinion: warrantless domestic military actions legal when aimed at stopping terrorism (http://blog.wired.com/27bstroke6/2009/03/bush-lawyers-ap.html).
China takes a more active role internationally. Deploys destroyers and other naval assets to combat piracy in the Indian Ocean (http://informationdissemination.blogspot.com/2009/03/observing-pla-navy-indian-ocean.html).
Logistical Nightmare (Iraq 2010 withdraw) http://blog.wired.com/defense/2009/02/the-logistics-o.html)?
British Royal Navy set to become a component of the U.S. Navy? Britain is set to have 2 aircraft carriers coming online in the next few years. Critics believe it will lack the requisite number of destroyers, frigates, and other smaller ships to adequately protect and service the new ships (http://www.defensetech.org/archives/004714.html#comments).
Uh-oh Pakistani military officers accused of involvement with Mumbai attacks (http://www.longwarjournal.org/archives/2009/02/indian_charges_two_p.php).
Monday, March 2, 2009
A good sign?
The Assembly has a new committee called the Assembly Accountability and Administrative Review Committee aimed at improving the performance of the state government. This is the first official move by the legislature to go after waste--and I applaud their effort. The dems have gotten on board admitting there is waste, abuse, and such in California that needs to be tackled. Republicans have been advocating such an effort for years. But they're perpetually the minority party and thus their ideas are not taken as seriously. The chairman of the new committee (De La Torre) said of the project, "I'm a cheap progressive."
Market continues to Fall.... And more bad news... Updated.
Buffet: U.S. economy in shambles (http://www.bloomberg.com/apps/news?pid=20601213&sid=ai9DTyPcka50&refer=home).
Dow lowest since 1997 (http://www.bloomberg.com/apps/news?pid=20601087&sid=aHP4RwNPNT2k&refer=home). The Dow is now below 6800... The U.S. and world economy continues to fall apart despite massive bailouts by the U.S. and various other governments. For some reason gold also fell today. Can't quite explain that one... Some have speculated that investors are in dire need of cash and are liquidating precious metals... CNBC predicts securities*may* end the year with gains (http://www.cnbc.com/id/29429549).
AIG (our newest asset as taxpayers--I think "we" own a 80% share) continued to plummet prompting $30 billion in new bailout money.
Crude oil fell to $4.00 today (http://www.bloomberg.com/apps/news?pid=20601087&sid=a1M0.nSTXC6M&refer=home).
Consumer switching to chicken (from beef and pork) in a quest for cheaper protein (http://www.bloomberg.com/apps/news?pid=20601109&sid=aWKabkAcH6M0&refer=home).
I'm pretty busy at work right now--but wanted a place holder to comment later today on the market... The Dow has fallen below 7k... I'll have more to say later in the day.
Freddie Mac CEO quits (http://www.cnbc.com/id/29463982).
AIG continues to crash (http://uk.reuters.com/article/marketsNewsUS/idUKN0240734920090302).
China warns of unemployment risk--biggest risk is unemployment says Chinese gov official (http://news.bbc.co.uk/2/hi/business/7915372.stm).
Buy gold (http://www.smartmoney.com/Investing/Economy/Nothing-Shines-Like-Gold/)?
