New home sales tumbled 9.2 percent in January, the government reported Monday, coming in below Wall Street forecasts and raising worries about rising interest rates and the nation’s housing market.
Next pop – the bond market.
February 28, 2005
Pop! – Goes the Bubble
Iraq, Syria
One hundred dead in Hilla and counting …
Juan Cole says:
The Syrians found Saddam Hussein’s half-brother in Beirut and handed him over to the US. (If there is an Arab city where US intelligence ought to have been able to find a high Iraqi official by itself without help from Syria, it should have been Beirut).
but he does not provide a link and I fail to find a source in the international press for this. Can anyone find a detailed report on this?
Billmon: 02/27
A Bridge Too Far for Bush’s Social Security elimination plans
and
More junkmail coming from USAnext because Eternal Vigilance is the Price of Liberty
February 27, 2005
Department of Home Improvement
I think FEMA on its web site includes duct tape and plastic sheets. … It is very appropriately listed in the list of supplies for an emergency supply kit.
Press Briefing by Secretary Ridge – February 14, 2003
A spokesman for the company that makes America’s best-selling duct tape announced today that it will sponsor all future news conferences by Homeland Security Director Tom Ridge.
Duct Tape Maker Sponsors Tom Ridge News Conferences (Satire) – February 14, 2003
Assistant manager Joe Keenan reports his Denver-area Home Depot has "sold more in the last couple of days than we have in the last few months."
Say it with duct tape – February 14, 2003
"Tom Ridge served his country with great distinction, and we are honored to have him join our board, where we expect that his unique global experience and perspective will make a profound contribution to our company and our shareholders," said Bob Nardelli, chairman, president & CEO.
The Home Depot Names Secretary Tom Ridge to Board of Directors – February 24, 2005
Billmon: 02/26
UPDATE Billmon cites some folks who are: Seeing the Light on the Right /UPDATE
… One of these days these boots are gonna walk all over you …
In the Open (Mind) Thread someone (me!) said:
Oh, Condi into High Heals and leather. Now I understand why her hus…., ahh the President likes her.
Billmon now summarizes the press reaction to my post (really?): These Boots are Made for Walking.
… One of these days these boots are gonna walk all over you …
February 26, 2005
Newsdrop? Open Thread?
Meanwhile, there is still an interesting discussion in the R.I.P. Hunter S. Thompson thread …
How To Help (Not)
Michael Dobbs, a national reporter for the Washington Post, was swimming off Sri Lanka when the tsunami hit. After personally witnessing the disaster, he did set up a private relief effort.
His report explains what is wrong with such efforts.
BRIC Ascendant – Wall St Hype vs Reallity
In October 2003, Goldman Sachs published a research paper, ‘Dreaming with BRICs: The Path to 2050 which predicted that by 2050, the hierarchy of the largest economies would be significantly changed, with China the largest, followed by the USA, India, Japan, Brazil and Russia. All the European members of the G-7 would be significantly outpaced.
This was updated in October 2004, in a second report, called "The BRICs and Global Markets: Crude, Cars and Capital" (sorry, could not find a link – but it is summarized below), whose title is quite explicit, and which basically confirms the 4 countries’ emergence as major economic powers and the corresponding growing irrelevance of Europe, with the US more or less holding their own.
How realistic is that, seriously?
February 25, 2005
How Many People is Too Many People?
The UN has just released its latest World Population Prospects report on population estimates, which is essentially a detailed interactive data base, country by country, until 2050, with a number of very detailed sub-categories under various scenarios which I entourage you to play with.
The 2 biggest headlines are the following:
- Population to increase by 40% (see this BBC summary)
- India to overtake China as the largest country (see the Financial Times, which put the article on its front page this morning).
Metal Firtina
Metal Storm is the title of a Turkish "á la Clancy" bestseller. Al Jazeera abstracts:
The novel, set in May 2007, begins when Turkish troops deployed in northern Iraq to protect the ethnic Turkish Turkmen community there, come under attack from US forces.
A huge disinformation campaign launched by Washington has people thinking that the Turks fired first, while the true aim of the United States is to seize Turkey’s rich borax mines, which account for 60% of the world’s boron production.
Turkey’s major cities come under heavy fire, with huge loss of life, while Ankara, taken by surprise, turns to the European Union and Russia for help.
The Christian Science Monitor and the Chicago Tribune also have reviews.
The current anti-Americanism in Turkey, the scathing anti-Turkish Wall Street Journal piece by Robert L. Pollack and this sane reply are not pointing to better relations.
In Executive Order, published 1996, Tom Clancy narrated an airliner crashing into Capitol Hill. Then came 9/11. Metal Storm has a Turkish agent, acting on his own revenge initiative, detonating a nuclear bomb in a park in Washington. Just tin foil hat stuff?
I am afraid it is much more serious. If Washington allows a quasi autonomous Kurdistan, with a resourceful oil capital Kirkuk, to emerge, Turkey’s eastern Kurdish parts will go up in flames (as will Kurdish parts of Iran and Syria). Ankara can not just stand by and let this happen.
Billmon: 02/24
Billmon reminds us Why We Fight.
Renamed to Sex Police State. With AARP standing guard?
Protecting Our Precious Bodily Fluids from that strange love of AARP.
Ohhhh Ann, this IS a cheap shot, but it feels so gooooood – says the midget.
February 24, 2005
Open (Mind) Thread
Rude Americans
Some Europeans think Americans are rude. Americans always take their gloves off:
“All you need to know is that there was a ‘before 9/11’ and there was an ‘after 9/11.’ After 9/11, the gloves came off.”
said Cofer Black, ex-counter-terrorism chief at the C.I.A., about interrogation of suspects.
During the election campaign gloves came off too. "Bush Takes Off The Gloves" reports CBS and "Kerry Takes Off Gloves" says the Washington post.
Even ladies do it. In her new job as SecState "Rice Takes Off Gloves" remarks Rush Limbaugh. A lot of mano a mano happening in the States.
Democracy in Action – Shaming Them Works
The good news – in a democracy, pointing out the inconsistencies in the behavior of your elected representatives can sometimes shame them into changing that behavior
The bad news – this is not happening in the US, of course.
February 23, 2005
Billmon: 02/23
Coming Soon to a GOP Theatre Near You – The utter evilness of AARP
Soap or Hot Sauce?
Frank Luntz, a consultant for the Republican party, has prepared the "New American Lexicon", "Learning from 2004 … Winning in 2006". It includes some fascinating insights. (Kos has a download-link for the 8 MB file.)
Policy goals, like ANWR drilling, get phrased, not formed, along the most positive return in polls. Communication – not content, words – not intent, are the keys for politicians to win elections.
The appendix lists "The 14 Words Never to Use" and their appropriate Newspeak phrasings. The question now is how to learn them. Do dirty words call for soap or hot sauce?, Karl Rove may ask.
To avoid your mouth being washed or burned, start learning Mr. Luntz’ "How to talk like a Republican" lesson today.
NEVER SAY INSTEAD SAY Government Washington Privatization / Private Accounts Personalization / Personal Account Tax Reform Tax Simplification Inheritance / Estate Tax The Death Tax A Global Economy / Globalization / Capitalism Free Market Economy Outsourcing Taxation, Regulation, Litigation, Innovation, Education Undocumented Workers Illegal Aliens Foreign Trade International Trade Drilling for oil Exploring for energy Tort Reform Lawsuit Abuse Reform Trial Lawyer Personal Injury Lawyer Corporate Transparency Corporate Accountability School Choice Parental Choice / Equal Opportunity in Education Healthcare "Choice" "The Right to Choose"
February 22, 2005
Billmon: 02/22
“They Talk About Planes and Bananas”
I was going to write a longer post on the topic of Bush’s visit to Brussels, but I’ll just bring in this quote from this morning’s FT:
Sporadic applause for Bush’s European overture
Still, the Bush administration’s scepticism about Europe’s capabilities runs deep. At a recent meeting with one European diplomat, Mr Bush was dismissive of the EU. “I just go there and they talk about planes [sic] and bananas,” he said, according to one person present. Until now, trade disputes over subjects such as aircraft and agricultural projects and the occasional competition decision have been the meat and drink of the US-EU relationship.
Meanwhile, I understand that the headlines of the NYT and the LAT are only about Bush scolding Russia for its lack of democracy, so get used to it: Europe is nice and irrelevant, or a pain and irrelevant…
Sorry, my dear co-writer Jérôme is getting this wrong. We seem to have some generational differences here.
In remarks to the citizens of Mainz, Germany, President Bush actually set forth four laudable proposals:
- To promote free elections and political pluralism through multilateral negotiation processes;
- To concede favorable trade conditions in exchange for more "openess" of restrictive societies;
- International cooperation and exchange of experts and expertise on vital common environmental interests;
- A significant, multilateral reduction in general armament levels and troop concentrations.
The speech was welcomed and seen as a significant step to a more peaceful, cooperating world – and yes, I applaude it.
In case anybody is having doubts of President Bush’s words, here are excerpts from the transcript:
Billmon: Hidden Agendas
Advertisement like everybody’s doing it ..
February 21, 2005
Open Thread 05-20
News, views, visions …