novatownhall blog

Where you are held accountable for your convictions and record

Well, in the spirit of “It’s not whether you will you win or lose, it’s how you place the blame,” we have this from The Economist:

This month America’s Securities and Exchange Commission (SEC) banned “naked” shorting—the sale of stock that investors do not yet have in their possession—of the American-listed shares of 17 investment banks as well as of the country’s mortgage giants, Fannie Mae and Freddie Mac. Last month Britain’s Financial Services Authority (FSA) introduced a new disclosure regime for short positions in companies that are selling new shares. Both announcements bore a whiff of panic: they were made during steep falls in bank shares and the fine print was tidied up afterwards. Both were accompanied by the rattling of regulatory sabres. The FSA growled that “market abuse” could explain the “severe volatility” of shares. The SEC thundered that “false rumours can lead to a loss of confidence”. It has reportedly fired off more than 50 subpoenas, largely to hedge funds.

Please.  Short sellers do so because they think the price is going down, not because they think they can manipulate the price.  After all, it’s a hell of a lot less risky to buy a stock and talk up the company than it is to short the company and talk it down.  When buying a stock, your loses are limited to the purchase price, and your potential gain is unlimited.  When shorting a stock, your gains are limited, and your potential loses are not.

Rather than driving a stock price down, if a short seller guesses wrong, he will usually buy back quickly to cover the short position and cut his loses — further driving up the price.  If, however, he guesses correctly, and the stock price falls, he will, at some point, buy to cover his position and take his profits.  (Remember, his profits are limited, so it does not pay to stay in a short position for a long time.)  This creates a buffer for the stock — if the price falls considerably, the short-sellers will buy out of their short positions, and stop the free-fall.

Short-selling does not drive down the price of a stock – losing money does.

Well, Duh !

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NEW YORK — The devil, as they say, is in the details.

So when an astute stamp collector recently discovered that one of the Old Glorys in the U.S. Postal Service’s “Flags 24/7″ series appears to have 14 stripes, it was bound to send a wave of excitement through the philatelic community.

“Is there any icon better-known to Americans than their own flag?” said Fred Baumann, a spokesman for the American Philatelic Society. “This is something somebody should have caught along the way.”

The stamp in question, “Night,” was released by the Postal Service on April 18 as part of a series of four stamps painted by Maryland artist Laura Stutzman depicting Old Glory at sunrise, noon, sunset and night.

Stutzman’s 42-cent stamp shows the flag flying proudly before a waxing moon, but instead of six white stripes, Old Glory has seven.

Read The Article

Proof again, that if you want to screw up a really simple task, give it to a federal agency !

That may as well have been the title for this article by Susan Jacoby.

[Lack] of education correlates both with poverty and with simplistic types of faith. The Deep South is still the most religious area of the country, and it is still the area of the country with the poorest education–measured by everything from high school test scores to the proportion of college graduates.

Perhaps we should not ask why the poor turn to religion — after all, most we brought up in the faith.  No, we should ask why those with an “education” (i.e., schooling) turn away from the religion in which they were raised.  The Bible answers this question, too: hubris.  They think they got where they are by their own merits, not by the Grace of God.  “Professing to be wise, they became fools.”  (Romans 1:22)

“Better is the poor who walks in his integrity, than one who is perverse in his lips, and is a fool. ”  (Proverbs 9:1)

“Do you see a man wise in his own eyes? There is more hope for a fool than for him.” (Proverbs 26:12) 

“Never let your schooling interfere with your education.” –Mark Twain

Got this off the VCDL e-mail.  Just more proof why you can’t trust liberal lawmakers.  Too bad Nancy wasn’t back “home” when this happened but she was too busy making an ass of herself here and stalling Congress.  Go here to read the article.

“Where do you get off blaming the NRA? Criminals and gang members do not care at all about the extra laws or outright bans that you put on the books to make citizens feel better. They are criminals. Do you think they will turn in the tools of their trade just because you pass another, more restrictive law?

You’re an IDIOT. I blame you for these murders mayor. You promote San Francisco as a sanctuary city and you should pay. These criminal low-lifes seem to have full immunity in your city.”

Sanctuary city.  How many cities, towns or even states can you name where the gov’ts are foolish enough to give sanctuary?  Who suffers by this?  What is it going to take before lawmakers catch on to the mindset of lawbreakers?  Are we really asking too much?

Now to a gator-rancher, this would be a promising opportunity.  To anyone else, especially if it is for equity venture, you wouldn’t be interested.  Unfortunately, there are all too many people that would jump at the prospect of buying when being lied to by the seller.  The why in this equation is ignorance.  We’re not talking about being intellectually challenged (I love it when I can get “native PC”) as that would allude to some inability to learn.  Nope.  Just plain old ignorance.  That which is 9/10th’s of the law.  The statement “ignorance is bliss” is all BUT that.  I believe the phrase was coined by a liberal and the liberals have the high ground.

We have a gas crisis and that is exactly what it is.  Petroleum makes the world go round and just about everything we deal with has a direct connect to petroleum.  The Pelosi and Obama liberals want you to change your ways.  They want you green.  They want you thinking alternatives and you have bit.  Now that gas is thru the roof you want some relief and you are banking on the same people to give it to you.  And when the politicians get beat-up too long, things will begin to happen and the liberals will take the credit.  And the people will listen and believe once more.  This is ignorance.  The populace is upset and demanding of our congress but they don’t see the real picture.  Too bad.

Illegal aliens are againest the law and most everyone doesn’t care……until it starts affecting their lifestyles, their paychecks and they start moving in next door and trashing the neighborhood.  Then the people start getting upset and demanding something be done.  When things calm down then all is forgotten.  Ignorance.  McCain wants to give amnesty and THEN work on a solution to close borders.  Other liberals feel just the same and they are shoving this down the peoples throat and getting away with it.  That’s right; because of ignorance.

People can be ignorant for many reasons.  Laziness, non-affecting, trusting in others are but a few.  These are traits that start early in childhood.  That is when we should be learning economics.  As math is the universal language, economics is the foundation of capitalism.  It is the single most important academic that will make you or break you.  Now your parents wanted you to get jobs and work so that you got an insight into making a living.  But how many parents teach economics?  How about primary schools?  How much exposure do kids get before they are off looking for their fortunes?  We know what jobs pay and how to advance  for greater pay.  Economics teaches you how to succeed in a society that needs what you do.  If we all had a good base in economics do you really think that Obama would even have, say, 3% approval rating?  Would the housing bubble have burst with all those sub-prime loans?  Would our taxes have gone up in a weak economy?  Would illegals be taking our jobs?  Would we be buying oil overseas and sending our manufacturing over there?  Would we allow China or any nation to hold a note that could devastate our way of life?  The answer to all is no.

Even though that swampland is virtually useless there will be many that think it a good deal if I say it is.  We need to stamp out this ignorance.  Let’s ditch ESL in this nation and replace it with mandatory  training in basic economics.  We could have a nation with no rivals anywhere and be back as the envy of all government systems.  Capitalism works and it works because of economics.  When there are too many people that are ignorant to economics you end up with something other that capitalism.  This is what liberals and cons rely on.  They want you as ignorant as they are otherwise you will see them as frauds.  Don’t be ignorant.  The truth and knowledge will set you free.  Be a friend.  Be an American.  Do what GOD would want you to do for your fellow man.  Take your loose change and sign a liberal or possible future liberal up for an economics course.  We all will be glad you did.  Amen.

When the government is lazy and dull,
    It’s people are unspoiled;
When the government in efficient and smart,
    It’s people are discontented.
–Lao Tsu

The Economist has a couple of articles about the funk America is in.  One concludes with this paragraph:

Americans have grown accustomed to extraordinary prosperity. Poor Americans today are more likely to have fridges, dishwashers and air-conditioning than average Americans were in 1971. Young voters have no memory of a serious recession, since the last one was in the early 1990s. Some do not even realise that cyclical downturns are normal. Only 18% of Americans think they are worse off than their parents were at the same age. But elections hinge on shorter-term concerns. Four-fifths of Americans say it is harder to maintain a middle-class lifestyle now than it was five years ago. That probably means the election is Mr Obama’s to lose.

Some of the explanation is in the penultimate paragraph:

The depth of gloom varies by age. The baby-boom generation (people aged 43-62) are glummer than the young or the elderly, according to Pew. Some 55% of boomers think it unlikely that their income will keep pace with the cost of living in the next year, compared with 44% of 18-42-year-olds and 43% of those aged 63 or more. Many boomers look after children and crumbling parents simultaneously.

Yes, the babies are crying again.  Boo freaking hoo.  We haven’t even had one quarter of negative growth yet, much less the two consecutive quarters required for a recession.  The article quotes two boomers:

“We were always optimistic when we were young. We thought that every year, things would get better,” says Mrs Brende. But now: “The bubble has burst. I think my generation [will be] the last to see a great America.” Her husband agrees. Standards are falling in schools, he frets. Young people are finding it harder to get ahead. “We’ve all been so greedy for so long and it has caught up with us,” says Mrs Brende. She hopes that Mr Obama may be able to do something about the national malaise, but fears that “It’s too late. The slide is on.”

Asked about their own lives, however, the Brendes are rather more cheerful. “We’re OK, financially,” says Mrs Brende. She is a travel writer; her husband is a doctor. They live half the year in Missouri and half in Mexico. They have 24 grandchildren and another on the way. Life could be a lot worse.

Phil Graham was right — we’ve become a nation of whiners.  When things are bad, people are too busy trying to live to bitch about the government.  When things are good, and they actually are pretty good right now, people are discontented.  When people’s biggest concerns are the Global Warming Myth and Animal Rights, life must be pretty damned good indeed.

If any modern celebrity cries out to be mocked it is certainly Barack Hussein Obama, and lo and behold the John McCain campaign team appears to have finally gotten that memo. I still cannot bring myself to send money to McCain, but I have to say he is gaining my grudging respect:

With austere language by both the narrator and Obama, the ad begins with a high-minded narrator’s voice referring to Obama as “The One,” the nickname McCain aides are using for their opponent and the aura around him. The ad intersperses equally high-minded sound bites from Obama.

I don’t know that this McCain ad really puts the fine point on the fact that screams for public dissemination – namely, that Barack Obama is totally full of shit – but it gets about halfway there. And let me tell you, I am enthused. I have all kinds of problems with John McCain, but I do respect truthful, effective marketing. If voters have the facts, they will make the right choice in November. This McCain ad campaign takes the first important step in painting the landscape for the next few months.

Based on these first few “hard hitting” TV advertisements I have seen from the John McCain campaign, I will also say this: The theme of “damning Obama with his own voice” could carry the day.

The crap this guy has been spewing, the utterly vapid, mindless new-age claptrap phraseology he has dished out, might not need any spinning or packaging. Think about that (please!) Obama seems to have derived some of his most powerfully-delivered phrases less from rational thought than from automatic writing. He is spinning this nonsense out of his ass into the loudspeakers and if it were not for the velvety voice he would be getting laughed off the stage from Portland to Peoria.

Here’s the challenge to the John McCain PR folks: Channel Barack Obama. You do not need to swift boat this guy, you only need to quote him. Stupid is as stupid says. Let the American people really focus in on Obama’s statements, and they will quickly discern that Obama’s is a campaign predicated entirely on emotion.

Oh man, you can have all kinds of fun with that.