HUBRIS – Part 2

Talk show hosts on both radio and television suffer with a condition called hubris. The definition is “exaggerated pride or self-confidence.”

Lou Dobbs quit his job on CNN to pursue “new opportunities.” He seems like Mr. Bluster to me (remember Howdy Doody?). Despite his denials, I believe he was terminated. Sudden departures are the result of a firing (recently that was the situation for the studio boss at Disney). Chris Matthews on MSNBC has the bad habit of not letting his guests speak after asking them a question. Why does he bother having guests when he believes he knows all the answers? Sean Hannity speaks with authority on all subjects. He rarely has guests who will offer any opinion that differs with his pre-conceived ideas.

Most of the radio talk show hosts are no better than these three. A special comment about Mark Levin is appropriate. He is always angry at the world and tells everyone listening that he knows all and any one who disagrees with him is a fool or a “left wing liberal.”

There have been others that suffered with hubris. George W. Bush comes to mind as the president who never made a mistake. Al Gore’s views on global warning appear to have taken on a life of their own.

Some well known entertainers are also suffering from hubris. Some of the deceased entertainers as well. The names Jay Leno, David Letterman, and Frank Sinatra come to mind.

Clearly Bernie Madoff, Maurice ‘”Hank” Greenberg former the former CEO of AIG, and General Motors CEO Rick Wagoner are just three of the many “titans” of business that suffered with this same disease.

The solution? Come to my house and you will learn how “average people” live. Stand in line at the EDD and you will know the meaning of unemployment. Ride a bus or subway in any city and watch the people riding in that vehicle.

What Price Diversity?

I am not politically correct!

General George Casey is!

I resent terms like “African-American”, Jewish-American”, and “Mexican-American” because those hyphenated groups balkanize our nation. My view is that if you are a citizen of the United States you are an American. We need to be blind to ethnic, racial, and gender identity. Of course that is difficult to do if you are Black or Oriental (oops, I am not supposed to use that word) or Indian. So at least try.

Army Chief of Staff General George Casey appeared on Meet the Press today talking about the massacre at Fort Hood. This is part of his interview with David Gregory. I have underlined in bold the sentences that really upset me.

GREGORY: What about your concerns about backlash against our Muslim soldiers who are in the Army, as a result of this incident?

GEN. CASEY: Yeah. I think those concerns are real and I, and I will tell you, David, that they’re, they’re fueled partially, at least, by the speculation about–based on anecdotal evidence that people are presenting. I think we have to be very careful with that. Our diversity not only in our Army, but in our country, is a strength. And as horrific as this tragedy was, if our diversity becomes a casualty, I think that’s worse.

GREGORY: Do you have any reason to believe that having Muslims in the Army puts them in a very difficult position and makes the more conflicted fighting a war against Muslims in Afghanistan or Iraq?

GEN. CASEY: I think that’s something that they have to look at on an individual basis. But I think we as an Army have to be broad enough to bring in people from all walks of life.

In other words the loss of 13 lives and the maiming of 31 other people is not as consequential as diversity. What happened to our duty as Americans to protect American lives? Why is diversity so all important? General Casey is responsible for protecting all of his people. He failed.

Our war with terrorists is a fight to protect our nation from those who want to destroy the American way of life. For those who do not like the way we live there are many other nations to call home.

Gold is not so Valuable

The price of gold has risen substantially in recent weeks. It was hovering in the mid $900 range for quite long time but now has reached $1,100 per ounce. The increase has occurred in a rather short time. I then checked Morningstar premium service and Eric Tyson’s web site. Both of them DO NOT recommend buying gold.

Eric Tyson says “gold is a dismal long-term investment.” Morningstar points out that “the sharp gain should only remind them of how volatile this sector is because it follows a painful 23.8% decline in 2008.”

Both of these web sites suggest alternate investments. Unless you are really convinced that the United States government is going bankrupt, you will be better off investing in inflation protected securities or perhaps the S&P 500.

NO to California Water Bonds Totaling $11 Billion

Of course we want to ensure our water supply and at the same time protect our environment. So every few years and sometimes more often the California legislature proposes more money to maintain the water supply. Unfortunately the actual amount of available water has declined. Many reservoirs are well below their capacity. Rationing of water has become a state wide fact. This would certainly be a time when Californians would approve a bond measure to improve the system.

Is that how the legislature decided on a $11.1 billion bond proposal? Apparently the answer is yes. The problem is that this bill appears to be more about building water projects we do not need rather than addressing the issue of water distribution. If passed, this bond issue will provide money for lots of contractors and $10 million for a Sacramento center for social tolerance that has nothing to do with water. This fact was exposed by Sacramento Bee reporter and columnist Dan Walters. Mr. Walters says this bond issue doesn’t address the issues. Traci Sheehan on the California Progress Report web site has identified other newspapers that oppose this waste of money.

Here is a list voter approved water projects from just this past decade I found on the internet.

Proposition 13. In March 2000, California voters approved Proposition 13 (2000 Water Bond), which authorizes the State of California to sell $1.97 billion in general obligation bonds to support safe drinking, water quality, flood protection and water reliability projects throughout the State.

Proposition 40. In March 2002, California voters approved Proposition 40, a $2.6 billion state bond measure for conservation, neighborhood parks, and coastline and watershed protection. Proposition 40 was the largest conservation bond measure ever approved in California.

Proposition 50. In November 2002, the $3.4 billion water bond measure, the largest in California history, was approved by voters. It provides $825 million in funding for CALFED for a variety of programs, including surface water storage studies, water conveyance facilities, levee improvements, water supply reliability projects, ecosystem restoration, watershed programs, conservation and water recycling. More on Proposition 50 is available at www.water.ca.gov/grants-loans.

Proposition 84. In November 2006 California voters approved this measure that will fund water, flood control, natural resources, park and conservation projects by authorizing $5,388,000,000 in general obligation bonds. The bonds will be used to fund various projects aimed at (1) improving drinking and agricultural water quality and management; (2) preserving, restoring and increasing public access to rivers and beaches; (3) improving flood control. See details of the law at http://www.parks.ca.gov/pages/1008/files/prop_84_text.pdf.

My calculator says these propositions spent more than $13 billion. The cost to pay back those bonds with interest will most likely be double that amount. Unless I hear some startling reason for this waste of tax dollars we should all vote NO to this give away of another $11 billion.

Negative Nabobs Live On

The President and the Democratic Party find themselves in a “no win” position in the world of politics now. The party of “no” is growing more extreme every day. The Republican Party has become the party of “negative nabobs.”

A little history is appropriate here.

-It was President George W. Bush’s Treasury Secretary, Henry Paulson, who rushed his proposal to give $700 Billion to the financial industry without any strings because it was believed that the nation was about to come to a grinding halt. -It was President George W. Bush who formulated the Bush Doctrine of preemptive military strikes that took the country into Iraq and neglected the situation in Afghanistan. -It was the Bush administration that ignored the warnings about the Katrina hurricane.

Now, just 10 months after entering office president Barack Obama is supposed to have solved all of America’s problems. Look at what has happened.

-3.5% GDP growth is artificial. It’s all the result of government programs. Are those the programs that the GOP said would not work? Isn’t the point of the programs to stimulate the economy? -Medical costs are rising at about 10% annually. The cost of insurance and care is taking at least 15% of American earnings. Obama proposes a Federally run insurance plan and the GOP says no but offers no alternatives. -The war in Afghanistan is going badly and the president is considering a new strategy. The former VP, Dick Cheney, calls the president’s evaluation “dithering” and the GOP faithful applaud. -Swine Flu vaccine has been quickly developed and the news media is scornful of medical lab care in assuring a quality product is produced. -Improved relations with nations that have historically been our allies and reduced tensions with other nations has been a hallmark of Obama’s presidency. It is scorned by the GOP. Their answer is let’s fight. Rush Limbaugh hopes the “president fails.”

Unfortunately Democrats are not willing to grant Republican successes. It’s the negativity of the minority party that ought to be condemned. It is rarely about what is good for America. The last time we all came together was the week after 9-11. We all need to ignore the nabobs of negativism.

The American War Machine

We are using the wrong strategy in our Afghanistan battle. United States armed forces along with international armed forces and Afghan security forces and police are now reported by the Associated Press to outnumber Taliban rebels by 12-1. There are currently about 104,000 international troops in Afghanistan, including about 68,000 Americans. Americans are dying at an alarming rate thanks to IEDs. Our fight ought to be with Al-Qaeda and other terrorist groups that threaten the United States. They are the group that was responsible for 9-11.

The American army is made up of volunteers. As a consequence most American families are not affected by the injuries and loss of life. The military-industrial complex couldn’t be happier because the war is making money for military manufacturers and the commanders have a cause that is difficult to dispute.

My contention is that the United States needs an alternate strategy that uses an undercover, quick deployment methodology that will deter attacks on the United States and its allies. We cannot bring Jeffersonian democracy to people who have no conception of our way of life. Many of the people in Iraq, Afghanistan, and Pakistan are living in a 12^th century world. Our occupation of Iraq proves that we cannot contain terrorists. Our final success in that country remains in doubt as proven by the latest bombings in Baghdad that have killed 153 people.

Like the continued manufacture of C-17 aircraft, the industrial complex that manufactures war materiel will lobby Congress to support the McChrystal request for more forces. I fear that Obama does not have the backbone to say “no” to those who love war.

The Lowest Cost Means the Highest Net Income

The average hourly pay rate in the state of Washington is $22.32. The average hourly pay rate in South Carolina is $17.33. So Boeing Company has decided to build their new 787 Dreamliner in a North Charleston facility in that Southern state. Of course there is also an incentive package by South Carolina that sealed the deal.

The lesson learned is that free enterprise always looks for ways to lower its cost of doing business. The state of Washington does not own Boeing. There is no pact that requires their allegiance to that state’s population. Lockheed moved from Los Angeles to Atlanta. Technicolor has moved its CD and DVD manufacturing facilities that was located in Virginia and California to Mexico. Many companies have outsourced their manufacturing to other countries.

Let me put this another way. Stock holders are not interested in providing welfare. They are interested in net profit. This too is part of America Incorporated. Any questions?

America Incorporated

The United States is borrowing a page from Red China. China has adopted a model that includes both free enterprise and government control. Red China actually is copying the American model that was partially implemented by the United States until President Ronald Reagan said “government is the problem.” Ronald Reagan was wrong.

Reagan’s impact lasted until the election of Barack Obama. The dismantling of many laws put in place after the Great Depression has caused the Great Recession.

The economic model that works best is one of both government and private enterprise working in unison to provide for continued moderate growth without creating a super wealthy class and reducing poverty.

Republicans and conservatives will fight the intent of this course because they believe it will destroy the nation. They are wrong. The United States is a consumer driven economy that is based upon the purchase of product. It cannot thrive without employment of most people at salaries that enable that continuing purchasing power. The public correctly objects to CEOs earning 200% to 300% more than the average wage earner.

The government’s investment in companies like Fisker Automotive is the kind of step that the Chinese government makes to improve society by employing thousands of people.