Patriot Missive » Nate of the Station

You know we’re f*cked when….

Ms. Missive — Wed, 08 Oct 2008 06:59:44 +0000

The National Debt Clock has run out of space to display the $10 trillion of debt America has now surpassed.

Remember when gas stations ran out of the number “4″ to put on their signage when prices skyrocketed? Well, there’s a similar predicament in Times Square.

The National Debt Clock has run out of spaces to display $10 trillion in red numerals.

By adding $100 billion to bail out Fannie Mae and Freddie Mac, and $700 billion to bail out banks and the credit market, there’s no room for more zeroes.

[source]

Palin Vs. McCain: Running Mates Can’t Agree

Ms. Missive — Sat, 04 Oct 2008 12:32:57 +0000

John McCain ceded Michigan yesterday in a move that looked defeating to both Democrat and Republican voters.

Apparently it looked defeatist to Palin too:

In an interview with Fox News Friday the Republican vice presidential candidate appeared to be disappointed with the decision and said she still wants to take a stab at wining the state that hasn’t voted for a Republican presidential candidate in two decades.

She also said she made her disagreement known to top campaign officials:

“I fired a quick e-mail and said, ‘oh, come on! Do we have to call it there?’ she said. ” Todd and I would [be] happy to get to Michigan and walk through those plants [with] car manufacturers.

“We’d be so happy to get to speak with the people there in Michigan, who are hurting because the economy is hurting,” she added. “Whatever we can do and whatever Todd and I can do in realizing what their challenges in that state are, as we can relate to them and connect with them and promise them that we won’t let them down in the administration.”

Are McCain and Palin communicating at all? This can’t possibly be another campaign stunt… can it?

Exactly how much is the bailout going to cost taxpayers?

Ms. Missive — Sat, 04 Oct 2008 06:18:33 +0000

We’ve been calling it the $700B bailout bill but in order to get it passed, legislators added several other perks to the package which inflated the total price tag.

So exactly how much are the American tax payers shelling out?

$850.5 BILLION

Who wins:

Banks, who get their balance sheets wiped clean.
Many old guard Wall Street executives, who remain exempt from government scrutiny.
700 counties in 39 states who used to depend on federal timber sales to pay for rural services, such as schools (from the AP).
Mental health patients, who now get health insurance benefits equal to those granted for other medical treatments.
Disaster-stricken states, who get tax relief.
Chevy fans, who get a $7,500 tax break for buying the Volt.
Renewable energy companies, who benefit from tax incentives.
Certain people with foreclosed homes, who will temporarily be exempt from federal income tax.
Henry Paulson, Jr., assuming he’s really into power.

[hattip: businesspundit]

The financial bailout passes: Best quote from the debate

Ms. Missive — Thu, 02 Oct 2008 06:15:08 +0000

Yes, it’s true. The $700B bailout passed along with several other perks. In order for another vote to take place, law makers taped the bailout to an old bill that the senate never got around to voting on before.

Along with the bailout passing they also passed extending tax breaks for individuals using renewable energy (good!), a research and development credit for businesses (uhh… shrug), and another year free from paying the Alternative Minimum Tax.

Right, so best quote from Senate debate:

Sen. Richard Shelby, R-Ala., said the Senate will have “failed the American people” by acting hastily. “I agree we need to do something. … [But] we haven’t spent any time figuring out whether we’ve picked the best choice.”

Sen. Obama and Sen. McCain both voted in favor of the bailout, btw.

Now the bill heads to the House where the politicians are even more spineless.

UPDATE:

More details on what other completely unrelated laws were passed with the $700B bailout bill:

Sec. 105. Energy credit for geothermal heat pump systems.
Sec. 111. Expansion and modification of advanced coal project investment credit.
Sec. 113. Temporary increase in coal excise tax; funding of Black Lung Disability Trust Fund.
Sec. 115. Tax credit for carbon dioxide sequestration.
Sec. 205. Credit for new qualified plug-in electric drive motor vehicles.
Sec. 405. Increase and extension of Oil Spill Liability Trust Fund tax.
Sec. 309. Extension of economic development credit for American Samoa.
Sec. 317. Seven-year cost recovery period for motorsports racing track facility.
Sec. 501. $8,500 income threshold used to calculate refundable portion of child tax credit.
Sec. 503 Exemption from excise tax for certain wooden arrows designed for use by children.

[hattip: theagitator]

Why did they vote ‘No’ on the $700B bailout?

Ms. Missive — Tue, 30 Sep 2008 06:03:49 +0000

Yeah, it’s true, we’ve had several posts about the $700 billion bailout plan on this site and I’m expecting to post several more in the future. Why? First because it’s THAT huge for the American economy. Second because it’s drastically effecting my exchange rate in Israel and I need my hummus. (Let’s be honest here. The closer to home this thing hits, the more we pay attention.)

Everyone was all excited for this damn thing to pass so that we could finally start walking on the road to financial healing. But why didn’t Congress pass it bill?

Politicker gives an interesting theory as to why the majority voted no:

There are 41 incumbent House members on Politicker.com’s The Pindell Report of the nation’s most competitive House races. Of that group 31 voted against the bailout, possibly proof that that a yes vote might be politically toxic just a little over a month from Election Day. Of the four House members running for the Senate only Maine’s Tom Allen voted for in favor.

Ok, so it’s because the politicians don’t want to make a mistake that would jeopardize their reelection. Because who wants to vote for the guy who had a hand in the bankruptcy of the United States?

Let’s be sure that we acknowledge that there are MANY reasons besides reelection that effected the vote:

Even Congressional leaders admitted on the House floor that this was less than a perfect bill for any member. Conservatives said the bill would was basically socialism. Liberals said the bill didn’t do enough to protect the Middle Class.

The bill simply doesn’t sit well with most Congressional leaders; both Liberals and Conservatives. Maybe it takes a crisis like this to finally create bipartisan leadership.

See also Anatomy of the Bailout Breakdown from Time.

What in the blue hell IS the “Bailout”?

Skitz M. Jones — Mon, 29 Sep 2008 05:15:47 +0000

If you’re like me then you’ve been hearing all sorts of mentions about the Bailout but not finding many explanations (even from our Presidential Candidates, because they didn’t seem to be able to answer any questions about it on Friday night either).

It’s hard to find a single coherent description of what it actually is (aside from it cost $700 billion).

Apparently Congress has come to an agreement on one of the biggest government involvements in the financial market since the Great Depression, and here’s what I have been able to fathom…

The Treasury will get the previously mentioned $700 billion in smaller portions one at a time to purchase mortgages from failing lending companies either at a predetermined price, or in a bid with the market itself. Once the Treasury buys up the debts, they will then sell them in an attempt to make the money back. I’ve heard there’s a provision in the event the gov’t doesn’t make it’s money back, but haven’t heard anything about what it might actually be. Not sure who we’re selling it to in the effort to make the money back too. Aaaannnnd… yeah, that’s about all I’ve got right now.

The only other thing I’ve seen is that pretty much no one in government seems happy about the Bailout; McCain, Obama, Pelosi, etc… and they’re only going through with it because they all somehow came to the same agreement that it had to happen, because if it doesn’t happen, the whole U.S. will suddenly collapse or something.

I guess we’ll see what happens.

UPDATE: 29 Sept 08 Afternoon

I suppose it doesn’t matter now what the details of the Bailout are, or should I perhaps say were… as the House of Representatives voted against the bill 228 to 205, with 2 non-votes. As a result, stocks are plummeting and the gov’t going right back to the drawing board.

UPDATE: 30 Sept 08 5:13 am (from Ms. Missive)

Kevin Drum over at Mother Jones muses why the financial crisis still isn’t 100% clear to the public:

Our current financial crisis has never been explained well to the public because (a) it’s mind-bogglingly complex and (b) even the experts don’t entirely know what’s going on. And the Paulson plan was never sold well because (a) the initial draft was indefensible and (b) the theory underlying it was uncertain and complicated.

Replacement for M4: XM25 Individual Air Burst Weapon Revealed!

Ms. Missive — Fri, 26 Sep 2008 13:37:20 +0000

Because the United States military doesn’t kick enough ass.

It appears that we’ve found the replacement for the M4 (assuming field tests go well, of course). If these stats don’t make your jaw drop then it’s lethality should least makes you nervous:

If the XM25 does what its developers hope, it will be able to fire an air-bursting round at a target from 16 meters away out to 600 meters with a highly accurate, 360-degree explosive radius.

The XM25 is about as long as a collapsed M4, weighs about as much as an M16 with an M203 grenade launcher attached and has about as much kick as a 12-gauge shotgun.

A Soldier can aim the XM25 at a wall concealing a sniper, for example, but “dial in” or adjust the distance by an additional meter above the target. When fired, the Alliant Teksystems-built round will explode above the enemy’s position, essentially going around the obstruction, Muldowney said.

“It’s so accurate, that when I laze to that target I’m going to be able to explode that round close enough that I’m going to get it,” Audette added.

The service hopes to field several types of 25mm rounds for the XM25 — for breaching doors, piercing armor, even non-lethal air burst and impact rounds, and an anti-personnel round

Let’s go to the slides:

[hat tip: defensetech.org]

Palin MIA at press conferences; Biden too

Ms. Missive — Wed, 24 Sep 2008 12:24:07 +0000

If she doesn’t get her ass in front of a reporter soon, I’ll jam that microphone so far up her….

….er, sorry about that. PTSD’s flairing up again.

We’re all starting to come to terms with Palin’s lack of media availability. It’s simply NOT going to happen before the Presidential debates. (The first of which will be this Friday, September 26th, btw. I’m shivering with anticipation.)

But you know what most people are ignoring? Biden isn’t holding any press conferences either. How’s that for confusing messages?

Canadian store uses anti-US ad to sell televisions

Ms. Missive — Mon, 22 Sep 2008 14:52:45 +0000

Just when you were starting to run out of reasons to curse the Canadians, they give you one:

[pic]

The ad is from easyhome and features the slogan ‘Even BS Looks Good On A 52″ HD LCD TV’ in front of (what appears to be) a cookie-cutter American politician.

Honestly, can you really argue with it?

P.S. I love my Canadian readers. I was just joshin’ with ya.

[hat tip: gizmodo]

U.S. launching $1.7 billion spy satellite

Ms. Missive — Sun, 21 Sep 2008 14:16:45 +0000

Because it’s not like we’re in the middle of an economic crisis or anything.

After the spectacular failure of the last spy satellite effort, the administration of President George W. Bush is trying once again to put a new set of government eyes in space through a $1.7 billion project approved last week whose goal is to have two new satellites in orbit by 2012.

The key players involved this time - including officials from the Department of Defense and the national intelligence director’s office - said in interviews this week that they recognized that the government could not afford another stumble.

The last project, called Future Imagery Architecture, was canceled in 2005 after indecision over what kind of capabilities it should have, which delayed progress and drove up the cost. It was canceled in 2005, before even a single satellite was launched, wasting at least $4 billion.

“We have to have the capability,” John Young Jr., who is under secretary of defense, said Wednesday, referring to the federal government’s need to gather imagery for its spies and troops and government decision makers.

But already there has been a dispute over whether the government, under the program now called Broad Area Space-Based Imagery Collector, should be building two new satellites of its own or acquiring images from private companies.

“It is déja vu,” said J. Christian Kessler, who retired this year from a State Department post where he helped oversee federal space satellite policy. “We are already on the path of repeating the failure that cost us billions the last time.”

How much is the new government bank rescue plan costing the tax payers? Oh yeah, billions.

The Lardge Haldron Collider is shut down

Ms. Missive — Sun, 21 Sep 2008 09:03:53 +0000

They say it’s a gas leak that shut down the Large Hadron Collider yesterday.

The world’s largest particle collider, situated on the Swiss-French border, will be down for at least two months after a helium leak into the tunnel, the European Organisation for Nuclear Research (Cern) has said.

But we’ve obtained exclusive footage via Live Webcam that suggests otherwise:

[video]

Link Depot: Happy International Talk Like a Pirate Day!

Ms. Missive — Fri, 19 Sep 2008 09:58:06 +0000

yar!!!

Here’s a link depot in honor of “International Talk Like a Pirate Day”:

Russia’s continuing effort to alienate themselves from the west and align themselves with Arab countries was perpetuated by yesterdays announcement of $10 million in aid to the terrorist run Palestinian Authority.
The all important Jewish vote: Florida Jews report “push polling” via telephone this week.
U.S. officials announce that Al-Qaida is unpopular and imploding. Tell that to the next suicide bomber victim.
Who would you prefer as President? Palin or Biden? A make-believe poll shows the people would prefer Sarah Palin as President.
Biden is famous for his daily commute from his home in Delaware to work in D.C. for the last 35 years. Now that he’s a VP candidate, how’s his commute faring?
Damning Bush Administration books are being published faster than you can say impeachment! Former House Majority Leader Dick Armey confirms Cheney gave misleading information to win support of Iraq invasion.

Arrrrr, mateys!!!

Now I can clear out my “interesting links” folder and start again with a fresh new week!

Have a good weekend everyone.

UPDATE:

I couldn’t help myself with this final link to TechCrunch. Social networking sites makes a few “adjustments” for Talk Like a Pirate Day.

Arab-Americans heart Obama over Nader

Ms. Missive — Fri, 19 Sep 2008 06:37:33 +0000

Al Jazeera reports on a new poll based on 501 interviews of Arab-Americans:

Forty-six per cent of Arab-Americans identify with the Democrats, but only 20 per cent identify with the Republicans, compared to roughly equal support for each party in 2000, according to the Arab American Institute poll.

Asked who they would vote for, about 46 per cent of Arab-Americans said they would back Obama in the November 4 elections, while 32 per cent said they would support John McCain.

Ralph Nader, the independent candidate whose parents immigrated from Lebanon, gathered about six per cent of Arab-American support.

Obama’s support increased to 54 per cent when Nader was not included as a candidate.

Ralph Nader is an Arab-American (his parents immigrated from Lebanon) as opposed to Obama who was simply born to an Muslim father.

I think the real story here is that even with an Arab-American on the ballot, the votes are still going to Obama who has always asserted his Christian religion.

Things that make you go ‘hmmmm’.

Sarah Palin HACKED!

Ms. Missive — Thu, 18 Sep 2008 09:58:10 +0000

There’s a little place in my heart for the hacker. Especially the hacker that takes aim at politicians.

Palin’s Yahoo account was hacked yesterday with several email messages posted on WikiLeaks.

Here are the best bits:

Palin has come under fire for using private e-mail accounts to conduct state business. Critics allege that she uses the account to get around public records laws, as the Bush administration has also been charged with doing.

An index of the e-mails in her inbox, which includes sender, subject line and date sent, indicates that Palin received numerous e-mails from her aides in the governor’s office, some of which could be work-related.

An e-mail from her press secretary, Meghan Stapleton, indicates the message is about the “Motor Fuel Tax Suspension”.

The subject line of an e-mail from Randall Ruaro, her deputy chief of staff reads, “Draft letter to Governor Schwarzenegger.” Another one from Ruaro says, “Please approve” and another one is about “Court of Appeals Nominations.”

Other e-mails from Ruaro indicate they’re about employee and budget issues for the DPS. DPS is how Alaska refers to its Department of Public Safety.

Palin’s chief of staff, Michael Nizich, sent her an e-mail August 22 with the subject line, “Using Royalty Oil to Lower the Cost of Fuel for Alaskans.” The subject line of another e-mail from Nizich reads “CONFIDENTIAL Ethics Matter.”

And the cheekiest part of all:

A fourth screenshot shows an e-mail sent to Ivy Frye, a Palin aide, from someone claiming to belong to the group Anonymous advising that the person has changed the password to Palin’s Yahoo account to prevent other members of Anonymous from accessing it again. The e-mail includes the new password.

That’s home-grown vetting if I ever saw it.

[pic] Click to enlarge.

Things I immediately noticed from the screen shot sent by the hacker: they use Firefox, AIM, and Windows Messenger. Oh… and apparently there’s a paintball video playing on YouTube.

Yet another government bail out- AIG

Skitz M. Jones — Wed, 17 Sep 2008 15:24:17 +0000

Just a few weeks after the U.S. Treasury took over major morgage firms Fannie Mae and Freddie Mac, there’s another major financial institution that is getting a hand from our oh so capable money managers in the government.

Fearing a financial crisis worldwide, the Federal Reserve reversed course Tuesday and agreed to an $85 billion bailout that would give the government control of the troubled insurance giant American International Group.

With time running out after AIG failed to get a bank loan to avoid bankruptcy, Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke convened a meeting with House and Senate leaders on Capitol Hill at about 6:30 p.m. Tuesday to explain the rescue plan. They emerged just after 7:30 p.m. with Paulson and Bernanke looking grim, but with top lawmakers generally expressing support for the plan.

But the bailout is likely to prove controversial, because it effectively puts taxpayer money at risk while protecting bad investments made by AIG and other institutions it does business with.

What frightened Fed and Treasury officials was not simply the prospect of another giant corporate bankruptcy, but AIG’s role as an enormous provider of financial insurance to investors who bought complex debt securities. That effectively required AIG to cover losses suffered by the buyers in the event the securities defaulted. It meant AIG was potentially on the hook for billions of dollars worth of risky securities that were once considered safe.

If AIG had collapsed — and been unable to pay all of its insurance claims — institutional investors around the world would have been instantly forced to reappraise the value of those securities, which in turn would have reduced their own capital and the value of their own debt.

“It would have been a chain reaction,” said Uwe Reinhardt, a professor of economics at Princeton University. “The spillover effects could have been incredible.”

So, you know, yay for not having a chain reaction of financial failure across the country, but um…

Does anyone else feel like maybe all these gov’t buy ups and bail outs are just an adhesive bandage on an arterial bleed?

A replacement for the M4 rifle in the works

Ms. Missive — Wed, 17 Sep 2008 11:43:48 +0000

The army wants a better carbine… and it’s willing to stray from 5.56mm ammunition.

There goes all those cadences we used to sing:

In a move that could reverse years of Army small arms policy, the service is asking industry to send in ideas for a new combat rifle that could replace the M4 carbine.

In late August, the Army issued a solicitation to the arms industry asking companies to submit proposals that would demonstrate “improvements in individual weapon performance in the areas of accuracy and dispersion … reliability and durability in all environments, modularity and terminal performance.”

[...]

The Army is leaving itself open to carbine ideas that could stray from the nearly 40-year policy of using 5.56mm ammunition for its rifles. Recent developments in ammunition calibers have bolstered critics who contend the 5.56 round has too little “stopping power” and passes through its target without incapacitating him.

Apparently, the army wants to make “One shot, one kill” a reality.

As for what the soldiers have to say about the M4 carbine, the U.S. Army Natick Soldier Research, Development and Engineering Center conducted a survey.

Here’s what the soldiers have to say about the M4 in a combat zone:

89% of soldiers reported confidence in the weapon.
34% of soldiers reported that their M4’s handguards rattle and become excessively hot when firing.
15% reported that they had trouble zeroing the M68 reflex sight.
55% requested the firearm be made lighter
35% added barber brushes and 24% added dental picks to their cleaning kits.
20% requested a larger magazine

CNN broadcast features two guys making out

Ms. Missive — Tue, 16 Sep 2008 12:12:06 +0000

The American economy is crumbling and all we can do is have public gay make-out sessions:

Here’s a link depot of interesting posts about what’s happening on Wall Street this week (because I can’t be bothered to write seriously on the matter after watching the video above):

CNN uses the phrase “financial implosion” when describing Wall Street.
McCain REALLY wants to change the economy.
Obama REALLY wants everyone to think McCain’s a moron.
Crude oil has fallen to $92 a barrel. (Remember way back in July it was $144/barrel?)
Lots and lots of pictures yesterday of the rabid media attack on the bankrupt Lehman Brothers.

The feminist’s response to the feminist

Ms. Missive — Mon, 15 Sep 2008 10:00:45 +0000

Gloria Steinem wrote an open letter last week that called for the unification of feminists to stand AGAINST Sarah Palin. As usual, Steinem wrote with both shock and elegance (see her letter here) and I found it enlightening in a way that only Steinem can communicate.

On the other hand, Cathy Young (a feminist in her own right) has a few things to say about Palin too:

Left-wing feminists have a hard time dealing with strong, successful conservative women in politics such as Margaret Thatcher. Sarah Palin seems to have truly unhinged more than a few, eliciting a stream of vicious, often misogynist invective.

On Salon.com last week, Cintra Wilson branded her a “Christian Stepford Wife” and a “Republican blow-up doll.” Wendy Doniger, religion professor at the University of Chicago Divinity School, added on the Washington Post blog, “Her greatest hypocrisy is in her pretense that she is a woman.”

You’d think that, whether or not they agree with her politics, feminists would at least applaud Mrs. Palin as a living example of one of their core principles: a woman’s right to have a career and a family. Yet some feminists unabashedly suggest that her decision to seek the vice presidency makes her a bad and selfish mother. Others argue that she is bad for working mothers because she’s just too good at having it all.

In the Boston Globe on Friday, columnist Ellen Goodman frets that Mrs. Palin is a “supermom” whose supporters “think a woman can have it all as long as she can do it all . . . by herself.” In fact, Sarah Palin is doing it with the help of her husband Todd, who is currently on leave from his job as an oil worker. But Ms. Goodman’s problem is that “she doesn’t need anything from anyone outside the family. She isn’t lobbying for, say, maternity leave, equal pay, or universal pre-K.”

This also galls Katherine Marsh, writing in the latest issue of The New Republic. Mrs. Palin admits to having “an incredible support system — a husband with flexible jobs rather than a competing career . . . and a host of nearby grandparents, aunts, and uncles.” Yet, Ms. Marsh charges, she does not endorse government policies to help less-advantaged working mothers — for instance, by promoting day-care centers.

Mrs. Palin’s marriage actually makes her a terrific role model. One of the best choices a woman can make if she wants a career and a family is to pick a partner who will be able to take on equal or primary responsibility for child-rearing. Our culture still harbors a lingering perception that such men are less than manly — and who better to smash that stereotype than “First Dude” Todd Palin?

Nevertheless, when Sarah Palin offered a tribute to her husband in her Republican National Convention speech, New York Times columnist Judith Warner read this as a message that she is “subordinate to a great man.” Perhaps the message was a brilliant reversal of the old saw that behind every man is a great woman: Here, the great woman is out in front and the great man provides the support. Isn’t that real feminism?

Not to Ms. Marsh, who insists that feminism must demand support for women from the government. In this worldview, advocating more federal subsidies for institutional day care is pro-woman; advocating tax breaks or regulatory reform that would help home-based care providers — preferred by most working parents — is not. Trying to legislate away the gender gap in earnings (which no self-respecting economist today blames primarily on discrimination) is feminist. Expanding opportunities for part-time and flexible jobs is “the Republican Party line.”

I disagree with Sarah Palin on a number of issues, including abortion rights. But when the feminist establishment treats not only pro-life feminism but small-government, individualist feminism as heresy, it writes off multitudes of women.

Of course, being a feminist role model is not part of the vice president’s job description, and there are legitimate questions about Mrs. Palin’s qualifications. And yet, like millions of American women — and men — I find her can-do feminism infinitely more liberated than the what-can-the-government-do-for-me brand espoused by the sisterhood.

Ms. Young, a contributing editor at Reason magazine, is author of “Ceasefire!: Why Women and Men Must Join Forces To Achieve True Equality” (Free Press, 1999).

source: The Wall Street Journal

I served under Petraeus and all I got was this lousy letter

Ms. Missive — Mon, 15 Sep 2008 06:38:36 +0000

General “The Surge” Petraeus is movin’ on up to the Central Command. (Would CENTCOM be considered a military version of the east side?)

Here’s what the ol’ General had to say:

[PDF]

Sarah Palin coming out the wazoo

Ms. Missive — Sun, 14 Sep 2008 05:55:37 +0000

The New York Times “Most E-Mailed” articles in the last 24 hours says it all:

[pic] Click to enlarge.

Did anyone hear there was a hurricane in Texas?

Patriot Missive » Nate of the Station

You know we’re f*cked when….

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Palin Vs. McCain: Running Mates Can’t Agree

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$850.5 BILLION

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