Somebody just sneak up behind me and put one through the back of my skull. I'm sitting here reading articles online while watching Sunday night football on NBC. Much to my horror I see a commercial for Rosie Live. Who the hell was the genius who came up with this idea? Screw him. Who was the freaking NBC executive that green lighted the idea? They should both be shot.
Rosie is nothing but a loud mouth, talentless piece of garbage who you down if you don't agree with her. She accuses Tom Selleck of being an NRA spokesman. He said he only did an ad. She doesn't let him explain his stance. It is possible to be part of an organization and not agree with it completely. Just like there are conservatives in the Democratic Party and liberals in the GOP, the NRA has people on both sides of the aisle in gun control. O'fat doesn't let him explain this and keeeps interrupting him. It's obvious Selleck gets frustrated with her.
She took a lot of heat after people pointed out that how could she be against Selleck and his gun stance when she herself did ads for KMart. Sensing that she couldn't have it both ways she parted ways with KMart.
Anyway, I digress. She's just talentless and the only ones defend her are the lemmings that follow her every word. Kinda like Harpo's legions.
So please O'fat. Just go away and be a lesbian and raise your kids.
Sunday, November 23, 2008
Sunday, November 16, 2008
Featured Artist and Book Reviews
This place isn't just for political or current events. It's my place for writing whatever comes to mind. Today I've got a featured artist.
Sister Rosetta Tharpe
I've been watching Ken Burn's series on the jazz and Martin Scorsese's series on blues. Watching the series have turned me on to some incredible artists. They are not lost to time obviously. I think they are vastly under appreciated. I'm pretty sure artists and students of music are very familiar with most the names mentioned in the documentaries. I wasn't until I watched them and it exposed me to a list of artists that I look forward to acquiring the music of and listening to.
One such artist is Sister Rosetta Tharpe. Like many blues and jazz artist, Tharpe learned and started performing in gospel music. When she was still young, she'd play gospel at church and blues and jazz at home. Eventually she started to record music and give live performances. She was able to meld gospel, jazz and blues into her own style and showmanship. Some in the gospel world were appalled by her ventures into the secular. Regardless, many performers have sited Tharpe as an influence including Elvis Presley, Isaac Hayes, Jerry Lee Lewis and Little Richard.
Just watch her performances and it's easy to see the influence she's had on musicians of all types through the years.
"Up Above My Head" is my personal favorite:
Two other great ones:
Book Reviews
I've just finished reading two books off my Amazon reading list.
The first is Bringing Down the House by Ben Mezrich. It is the story of a group of MIT students who are trained to count cards and beat casinos in the game of blackjack. The students are trained and then a group of investors stake them to seed money. They then embark as teams in casinos working their trade. They take on different disguises, names and alternate lives in order to keep casinos from stopping. Card counting isn't illegal but casinos can ban clients if they discover they are doing it and then threaten them with arrest for trespass if they are caught again.
Overall the book is a fast and easy read. The book details how the lead character was recruited, his training and then the adventures once he started counting cards. The book describes some hairy situations they got into and their escapes. Overall, I enjoyed the book but the whole time I was reading I felt something was lacking. I'm not sure what. It was mostly based on fact. I don't think anything was embellished. Some how I came away feeling like I was left hanging even though the book ends with a conclusion. I do recommend the book though. It's especially a good read for a flight or travel.
The second book I just read was Paul of Dune by Brian Herbert and Kevin J. Anderson. The book is a telling of the story of Paul Atriedes in the few years after he defeated the Padishah Emperor Shaddam Corrino and wrested control of the Dune universe. It also delves into Paul's life growing up on Caladan as son of Duke Leto Atriedes.
Paul is a troubled soul. He is gifted with prescience and he can see both the destruction of the human race and the path he can take to save humanity. He knows to save humanity he must turn into a tyrant and it goes against all that his father taught him. As he consolidates his new empire, Paul also deals with the conspiracies and court intrigues against him.
As with the other post-Frank Herbert Dune books, I enjoyed Paul of Dune. Herbert and Anderson capture vividly the new tasks facing Paul Atriedes. They also weave the story that tells of the conspiracies against Paul. They richly describe some of the battles Paul's fanatical Fremen jihadists run off to fight in Paul's name. They also pry more into Paul's mind and reveal the burden he feels as Emperor of the Known Universe. He knows people love him. He also knows people hate him. The authors do a good job of putting many stories and elements in a tale the bridges the gap in Frank Herbert's original Dune. They enrich an already wonderful universe that Herbert created.
Sister Rosetta Tharpe
I've been watching Ken Burn's series on the jazz and Martin Scorsese's series on blues. Watching the series have turned me on to some incredible artists. They are not lost to time obviously. I think they are vastly under appreciated. I'm pretty sure artists and students of music are very familiar with most the names mentioned in the documentaries. I wasn't until I watched them and it exposed me to a list of artists that I look forward to acquiring the music of and listening to.
One such artist is Sister Rosetta Tharpe. Like many blues and jazz artist, Tharpe learned and started performing in gospel music. When she was still young, she'd play gospel at church and blues and jazz at home. Eventually she started to record music and give live performances. She was able to meld gospel, jazz and blues into her own style and showmanship. Some in the gospel world were appalled by her ventures into the secular. Regardless, many performers have sited Tharpe as an influence including Elvis Presley, Isaac Hayes, Jerry Lee Lewis and Little Richard.
Just watch her performances and it's easy to see the influence she's had on musicians of all types through the years.
"Up Above My Head" is my personal favorite:
Two other great ones:
Book Reviews
I've just finished reading two books off my Amazon reading list.
The first is Bringing Down the House by Ben Mezrich. It is the story of a group of MIT students who are trained to count cards and beat casinos in the game of blackjack. The students are trained and then a group of investors stake them to seed money. They then embark as teams in casinos working their trade. They take on different disguises, names and alternate lives in order to keep casinos from stopping. Card counting isn't illegal but casinos can ban clients if they discover they are doing it and then threaten them with arrest for trespass if they are caught again.
Overall the book is a fast and easy read. The book details how the lead character was recruited, his training and then the adventures once he started counting cards. The book describes some hairy situations they got into and their escapes. Overall, I enjoyed the book but the whole time I was reading I felt something was lacking. I'm not sure what. It was mostly based on fact. I don't think anything was embellished. Some how I came away feeling like I was left hanging even though the book ends with a conclusion. I do recommend the book though. It's especially a good read for a flight or travel.
The second book I just read was Paul of Dune by Brian Herbert and Kevin J. Anderson. The book is a telling of the story of Paul Atriedes in the few years after he defeated the Padishah Emperor Shaddam Corrino and wrested control of the Dune universe. It also delves into Paul's life growing up on Caladan as son of Duke Leto Atriedes.
Paul is a troubled soul. He is gifted with prescience and he can see both the destruction of the human race and the path he can take to save humanity. He knows to save humanity he must turn into a tyrant and it goes against all that his father taught him. As he consolidates his new empire, Paul also deals with the conspiracies and court intrigues against him.
As with the other post-Frank Herbert Dune books, I enjoyed Paul of Dune. Herbert and Anderson capture vividly the new tasks facing Paul Atriedes. They also weave the story that tells of the conspiracies against Paul. They richly describe some of the battles Paul's fanatical Fremen jihadists run off to fight in Paul's name. They also pry more into Paul's mind and reveal the burden he feels as Emperor of the Known Universe. He knows people love him. He also knows people hate him. The authors do a good job of putting many stories and elements in a tale the bridges the gap in Frank Herbert's original Dune. They enrich an already wonderful universe that Herbert created.
Monday, November 10, 2008
First Online Presidency?
President-elect Barack Obama used technology and the internet as a big part of his campaign. Supports could keep track of the campaign via his website. Obama announced his vice presidential candidate via text messages for those who signed up to his website. Obama greatly outnumbered rival John McCain in myspace.com and Facebook friends. So it comes as no surprise as the Obama presidency may become the first online presidency.
A website has already been created called Change.gov Office of the President-elect. The website contains the obligatory newsroom and blogs. Also it includes a section for Americans to share their stories as well as what they want for the administration to focus on. It asks for input on policies, legislation and expectations for the new president. There is even a section to apply for noncareer government jobs with the administration.
The CNN.com article also states that Obama will have a five day comment period for pending nonemergency legislation. It will be interesting to see how this evolves and how Obama uses the internet and technology to lead the United States for at least the next four years. It will more than likely change the face of how future presidents interact with the American people.
A website has already been created called Change.gov Office of the President-elect. The website contains the obligatory newsroom and blogs. Also it includes a section for Americans to share their stories as well as what they want for the administration to focus on. It asks for input on policies, legislation and expectations for the new president. There is even a section to apply for noncareer government jobs with the administration.
The CNN.com article also states that Obama will have a five day comment period for pending nonemergency legislation. It will be interesting to see how this evolves and how Obama uses the internet and technology to lead the United States for at least the next four years. It will more than likely change the face of how future presidents interact with the American people.
Wednesday, November 5, 2008
President-elect Barack Obama
Congratulations to Barack Obama for winning the Presidency of the United States. Obviously it is a historic moment in the history of the nation. I'll be honest, I never thought I'd see a black man as president this soon. I truly believed one would be elected in my lifetime but just not yet. So hats off not only to Obama but to most the American people for voting color blind and voting for the man.
Obama and the Democrats have been handed control of the White House and Congress for the next two years. Much has changed in the last eight years since the last Democratic administration. When Bill Clinton left office the economy was stronger and the federal government had a surplus. After eight years of George Bush, the economy is in shambles and the deficit is monstrous. The new administration and Congress have a monumental task ahead. They must try to bring the economy back to stability, look for ways to hold back government spending and restore consumer confidence.
Just as important as the economy is the continued prosecution of the War on Terror. First and foremost is cleaning up the mess in Iraq. If nothing else, the Iraqi blunder will stand forever as Bush's legacy. It falls on Obama to prudently pull scale back the military presence and refocus the war in Afghanistan.
Obama and the Democrats ran on a message of change and against the Republicans in office and tied them to President George Bush's administration. The American people listened and voted for change. Now Obama and Congress must deliver. They were handed power unchecked. If they don't succeed and make some kind of visible progress on the economy, the voters most likely won't hesitate for change once again. A new Congress could come in two years from now in Republican hands.
I wish and pray for nothing but the best for the new President. Not only for my good but the good and strength of our wonderful Republic.
One final thought and it's probably not a popular one. In fact I haven't seen it addressed anywhere. Much is made about Obama bringing out the black vote. I applaud everyone who votes. Especially those that don't or wouldn't have voted unless Obama ran.
What I haven't seen discussed is the reasons why many (not all, obviously) blacks voted for Obama. Did they simply vote for Obama just because he was black? Did they look at the issues and stances of both candidates and make a decision? Or was the color of Obama's skin the sole basis for voting for him? I understand the historical reasons of his election but I find it apalling that someone would vote for the man only because he's of one's race. I find it just as offending as someone voting against the man based on his skin color.
Unfortunately no one has the courage to undertake a study on both issues: how many voted for Obama cause he's black and how many voted against him because he's black. I would be very interested in seeing the numbers. I think it would be very telling about our society and how long we still have to go in race relations and understanding.
Obama and the Democrats have been handed control of the White House and Congress for the next two years. Much has changed in the last eight years since the last Democratic administration. When Bill Clinton left office the economy was stronger and the federal government had a surplus. After eight years of George Bush, the economy is in shambles and the deficit is monstrous. The new administration and Congress have a monumental task ahead. They must try to bring the economy back to stability, look for ways to hold back government spending and restore consumer confidence.
Just as important as the economy is the continued prosecution of the War on Terror. First and foremost is cleaning up the mess in Iraq. If nothing else, the Iraqi blunder will stand forever as Bush's legacy. It falls on Obama to prudently pull scale back the military presence and refocus the war in Afghanistan.
Obama and the Democrats ran on a message of change and against the Republicans in office and tied them to President George Bush's administration. The American people listened and voted for change. Now Obama and Congress must deliver. They were handed power unchecked. If they don't succeed and make some kind of visible progress on the economy, the voters most likely won't hesitate for change once again. A new Congress could come in two years from now in Republican hands.
I wish and pray for nothing but the best for the new President. Not only for my good but the good and strength of our wonderful Republic.
One final thought and it's probably not a popular one. In fact I haven't seen it addressed anywhere. Much is made about Obama bringing out the black vote. I applaud everyone who votes. Especially those that don't or wouldn't have voted unless Obama ran.
What I haven't seen discussed is the reasons why many (not all, obviously) blacks voted for Obama. Did they simply vote for Obama just because he was black? Did they look at the issues and stances of both candidates and make a decision? Or was the color of Obama's skin the sole basis for voting for him? I understand the historical reasons of his election but I find it apalling that someone would vote for the man only because he's of one's race. I find it just as offending as someone voting against the man based on his skin color.
Unfortunately no one has the courage to undertake a study on both issues: how many voted for Obama cause he's black and how many voted against him because he's black. I would be very interested in seeing the numbers. I think it would be very telling about our society and how long we still have to go in race relations and understanding.
Monday, October 20, 2008
Official Presidential Endorsement
Ladies and Gentlemen,
Taking my lead from newspaper editorial boards across our great land, the time has come for my official presidential endorsement. While I do not wish to tell my fellow Americans how to vote, I do wish to express my opinion on the candidates and reveal who I'm going to vote for.
First I need to look at the candidates and what they stand for. It's hard sifting through the lies and propaganda unleashed by both party machines. Amazingly there have been no "swift boat" like ads like the ones that help sink John Kerry's presidential bid.
So one has to look at public record, stated opinions by the candidates, consider debate answers and sometimes go with a gut feel or instinct on who the better candidate is.
First the falsehoods out there. John McCain and his operatives contend that Barrack Obama will raise taxes on the middle class. Simply that is not true. Obama is on record saying he will reduce taxes for the middle class. McCain also charges that Obama will lead us to socialism and socialize health care. I see nothing on Obama's platform that looks to make us a social European-style democracy. Besides, if it were done, he and the Congressmen that did it would likely get voted out of office at the next election cycle. Obama has stated nothing to the fact that he will socialize health care. He's stated that he will help make it affordable for uninsured Americans. McCain also likes to style himself as a Washington maverick. Voting nearly 90% of the time along party lines isn't a maverick. Joe Lieberman, as much as I don't care for his politics, is more of a maverick than McCain.
Further, I look at McCain's VP candidate AND factor in his age. While not trying to be morbid, age is definitely a consideration I have to look at. Were McCain not able to finish out his term would I feel comfortable with Sarah Palin? And the answer to that is not "no" but a resounding "Hell NO!" Palin is scary. Her lack of understanding of issues or failure to educate herself about them is unfathomable. Her interviews with Katie Couric were appalling. Merely stating party mantras and showing no knowledge of issues is not my idea of a candidate for VP who would be a heart beat away from the presidency.
So then I have to look at Barrack Obama. What do I know about Obama? Nothing. Absolutely nothing. All I know are the propaganda that the Republican machine has put out. The Democrats have failed to effectively get Obama's message to the people out. They haven't directly challenged McCain's falsehoods nor have they countered with any specifics of the lies. The strategy they take is to pin McCain to President George Bush's failed policies. While it's a good plan, I need more substance than just saying McCain is four more years of Bush. I want to know what will be done differently. Change is a pretty message but it doesn't mean changing is
any better than what we currently have. Obama is getting by on his speaking skills and charisma. I view Obama as a smooth talking wind bag. All talk, no substance.
So it makes me think what do I want in a candidate? The first thing I think of is the government's duty to protect the citizens. Next I think about protecting the civil liberties of the citizens. I also think about how huge the federal deficit is. Taking in all the social and political ideas that are dear to me, what is my ideal candidate? I'd like a government that doesn't try to legislate morals, allow maximum freedom of choice in personal issues, the rolling back of some of the nanny state laws, a reduction in the size of government and in the deficit.
I don't see either party fitting the bill. Republicans want to tell me to believe in God, the family is a the foundation of America and that I'm not smart enough to make some personal choices. Democrats also think I'm not smart enough to make some personal choices, want me to pay for the mistakes of others and in some cases just flat out pay for others.
So in my search and debate for how I want to vote for, I'm turning to a third party. I full heartedly endorse Libertarian Bob Barr for president. I agree with many of the planks of the Libertarian Party platform. I believe a smaller government is necessary, an individual's rights are paramount as long as they cause harm to no one or infringe on another's freedoms, abortion is a personal choice, what consenting adults and what lifestyle they chose is also a personal choice, the right to self defense and bear arms and many other party beliefs.
While I support many of the party beliefs, there are some that I don't believe. The Party calls for the elimination of the IRS and federal taxes, the legalization of all drugs and the end of U.S. support for the U.N. and economic aid to other countries. While I believe taxes can be reduced, the IRS and taxes are necessary for government to function and to pay down the insane national debt. The legalization of recreational drugs is not a solution to the current drug problem. Finally, U.S. support is sometimes needed in order to prevent some nations from falling to those who wish to harm the United States and our citizens.
While I don't believe Bob Barr is the best candidate that the Libertarian Party can put forward, I do believe that the Libertarian Party is the closest to my personal and political beliefs. Further I cannot in good conscience vote for either Barrack Obama or John McCain. So when I go into the voting booth this election, I will be voting for the Libertarian Party ticket.
Taking my lead from newspaper editorial boards across our great land, the time has come for my official presidential endorsement. While I do not wish to tell my fellow Americans how to vote, I do wish to express my opinion on the candidates and reveal who I'm going to vote for.
First I need to look at the candidates and what they stand for. It's hard sifting through the lies and propaganda unleashed by both party machines. Amazingly there have been no "swift boat" like ads like the ones that help sink John Kerry's presidential bid.
So one has to look at public record, stated opinions by the candidates, consider debate answers and sometimes go with a gut feel or instinct on who the better candidate is.
First the falsehoods out there. John McCain and his operatives contend that Barrack Obama will raise taxes on the middle class. Simply that is not true. Obama is on record saying he will reduce taxes for the middle class. McCain also charges that Obama will lead us to socialism and socialize health care. I see nothing on Obama's platform that looks to make us a social European-style democracy. Besides, if it were done, he and the Congressmen that did it would likely get voted out of office at the next election cycle. Obama has stated nothing to the fact that he will socialize health care. He's stated that he will help make it affordable for uninsured Americans. McCain also likes to style himself as a Washington maverick. Voting nearly 90% of the time along party lines isn't a maverick. Joe Lieberman, as much as I don't care for his politics, is more of a maverick than McCain.
Further, I look at McCain's VP candidate AND factor in his age. While not trying to be morbid, age is definitely a consideration I have to look at. Were McCain not able to finish out his term would I feel comfortable with Sarah Palin? And the answer to that is not "no" but a resounding "Hell NO!" Palin is scary. Her lack of understanding of issues or failure to educate herself about them is unfathomable. Her interviews with Katie Couric were appalling. Merely stating party mantras and showing no knowledge of issues is not my idea of a candidate for VP who would be a heart beat away from the presidency.
So then I have to look at Barrack Obama. What do I know about Obama? Nothing. Absolutely nothing. All I know are the propaganda that the Republican machine has put out. The Democrats have failed to effectively get Obama's message to the people out. They haven't directly challenged McCain's falsehoods nor have they countered with any specifics of the lies. The strategy they take is to pin McCain to President George Bush's failed policies. While it's a good plan, I need more substance than just saying McCain is four more years of Bush. I want to know what will be done differently. Change is a pretty message but it doesn't mean changing is
any better than what we currently have. Obama is getting by on his speaking skills and charisma. I view Obama as a smooth talking wind bag. All talk, no substance.
So it makes me think what do I want in a candidate? The first thing I think of is the government's duty to protect the citizens. Next I think about protecting the civil liberties of the citizens. I also think about how huge the federal deficit is. Taking in all the social and political ideas that are dear to me, what is my ideal candidate? I'd like a government that doesn't try to legislate morals, allow maximum freedom of choice in personal issues, the rolling back of some of the nanny state laws, a reduction in the size of government and in the deficit.
I don't see either party fitting the bill. Republicans want to tell me to believe in God, the family is a the foundation of America and that I'm not smart enough to make some personal choices. Democrats also think I'm not smart enough to make some personal choices, want me to pay for the mistakes of others and in some cases just flat out pay for others.
So in my search and debate for how I want to vote for, I'm turning to a third party. I full heartedly endorse Libertarian Bob Barr for president. I agree with many of the planks of the Libertarian Party platform. I believe a smaller government is necessary, an individual's rights are paramount as long as they cause harm to no one or infringe on another's freedoms, abortion is a personal choice, what consenting adults and what lifestyle they chose is also a personal choice, the right to self defense and bear arms and many other party beliefs.
While I support many of the party beliefs, there are some that I don't believe. The Party calls for the elimination of the IRS and federal taxes, the legalization of all drugs and the end of U.S. support for the U.N. and economic aid to other countries. While I believe taxes can be reduced, the IRS and taxes are necessary for government to function and to pay down the insane national debt. The legalization of recreational drugs is not a solution to the current drug problem. Finally, U.S. support is sometimes needed in order to prevent some nations from falling to those who wish to harm the United States and our citizens.
While I don't believe Bob Barr is the best candidate that the Libertarian Party can put forward, I do believe that the Libertarian Party is the closest to my personal and political beliefs. Further I cannot in good conscience vote for either Barrack Obama or John McCain. So when I go into the voting booth this election, I will be voting for the Libertarian Party ticket.
Friday, October 10, 2008
Thoughts on the Current Economic Crisis
A global economic meltdown is obviously underway. Sell orders are inundating stock exchanges around the world as people panic sell. Russia, Indonesia and Austria suspended trading to help keep the sell off in check. Of course, no one knows when a turnaround will commence.
I was adamant in my opposition to the U.S. bailout plan. I saw no reason to take bad mortgages and loans off the books of the banks and financial institutions that practiced irresponsible lending and borrowing tactics. I don't want to be on the hook for all these bad decisions.
On the other hand, a few analysts that I respect, John Mauldin in particular, say the government intervention is necessary. They make a case that no government intervention is probably the worse thing. One of his newsletters mentioned the Japan crisis as an example of what happens with no intervention. Japan's markets and real estate never quiet recovered in the last decade. The newsletter points out five steps the government should take to help alleviate the crisis. Mauldin states that no matter which course of action it's going to be expensive. Since no action is far worse and far more expensive than government intervention, it's time we bite the bullet and accept it. To read more go to Mauldin's Outside the Box: Banking Crisis Around the World.
Despite my objections and protests, Congress didn't listen to me and they passed a bailout bill. So the bill passed and I have to accept the fact. Now I can only hope that the government takes prudent and smart action to turn this around. I'm not to confident that will happen. There are some extremely smart and intelligent people who will be overseeing the bailout but I worry that silly rules and bureaucratic mandates will weigh the measures down. I pray that Congress and the President let those they assign to bail us out let them do their jobs.
As I write this I just got a news flash email that the Dow has dropped below 8,000 to open the day. Fear and panic have taken over the market. Me personally I have no reason to sell any of my holdings. The only thing I sold was a portion of my Buffalo Wild Wings (BWLD) on recommendation from an investing newsletter I subscribe to. In fact, I plan on looking for companies that have been wrongly sold off and had their stock pummeled. Now is the right time to buy stocks that have been beaten down for no reason. There are many companies out there that will still turn a profit and provide goods and services people need just for day to day living. I haven't done any valuations yet but a stock that comes to mind is Johnson & Johnson. I'm going to have to read the newsletters and message boards I subscribe to in order to get a feel for what's out there and follow any recommendations that I feel comfortable with.
Another company that I'm looking at is Berkshire Hathaway (BRK-B). Warren Buffett, arguably the greatest investor of all time, isn't selling. He is buying. When Buffett buys, more than likely it's a good buy. He's getting a sweet deal in putting money into Goldman Sachs (GS). For $5 billion Berkshire gets a 10% dividend on the preferred shares it bought along with the option to buy more stock at $115 per share regardless of the actual price of the shares. So Berkshire makes money at anytime the share price goes above the strike price and they decide to buy. For example, if the shares go up to $150, Buffett can then buy them still for $115 and, at least on paper, make a profit of $35 per share. Not to shabby. Of course, the likes of me can't get a deal like that but by investing in Berkshire I can get a piece of the action.
I was adamant in my opposition to the U.S. bailout plan. I saw no reason to take bad mortgages and loans off the books of the banks and financial institutions that practiced irresponsible lending and borrowing tactics. I don't want to be on the hook for all these bad decisions.
On the other hand, a few analysts that I respect, John Mauldin in particular, say the government intervention is necessary. They make a case that no government intervention is probably the worse thing. One of his newsletters mentioned the Japan crisis as an example of what happens with no intervention. Japan's markets and real estate never quiet recovered in the last decade. The newsletter points out five steps the government should take to help alleviate the crisis. Mauldin states that no matter which course of action it's going to be expensive. Since no action is far worse and far more expensive than government intervention, it's time we bite the bullet and accept it. To read more go to Mauldin's Outside the Box: Banking Crisis Around the World.
Despite my objections and protests, Congress didn't listen to me and they passed a bailout bill. So the bill passed and I have to accept the fact. Now I can only hope that the government takes prudent and smart action to turn this around. I'm not to confident that will happen. There are some extremely smart and intelligent people who will be overseeing the bailout but I worry that silly rules and bureaucratic mandates will weigh the measures down. I pray that Congress and the President let those they assign to bail us out let them do their jobs.
As I write this I just got a news flash email that the Dow has dropped below 8,000 to open the day. Fear and panic have taken over the market. Me personally I have no reason to sell any of my holdings. The only thing I sold was a portion of my Buffalo Wild Wings (BWLD) on recommendation from an investing newsletter I subscribe to. In fact, I plan on looking for companies that have been wrongly sold off and had their stock pummeled. Now is the right time to buy stocks that have been beaten down for no reason. There are many companies out there that will still turn a profit and provide goods and services people need just for day to day living. I haven't done any valuations yet but a stock that comes to mind is Johnson & Johnson. I'm going to have to read the newsletters and message boards I subscribe to in order to get a feel for what's out there and follow any recommendations that I feel comfortable with.
Another company that I'm looking at is Berkshire Hathaway (BRK-B). Warren Buffett, arguably the greatest investor of all time, isn't selling. He is buying. When Buffett buys, more than likely it's a good buy. He's getting a sweet deal in putting money into Goldman Sachs (GS). For $5 billion Berkshire gets a 10% dividend on the preferred shares it bought along with the option to buy more stock at $115 per share regardless of the actual price of the shares. So Berkshire makes money at anytime the share price goes above the strike price and they decide to buy. For example, if the shares go up to $150, Buffett can then buy them still for $115 and, at least on paper, make a profit of $35 per share. Not to shabby. Of course, the likes of me can't get a deal like that but by investing in Berkshire I can get a piece of the action.
Monday, September 29, 2008
Bailout Vote Fails House!
And now for some brilliant political commentary:
I feel so strongly against the bailout that I've written my Congressman Ted Poe and the two Texas U.S. Senators and told them not to vote for the proposal. That the proposal will do nothing but reward Wall Street fat cats for failed greedy policies and put the expense of those mistakes on the taxpayer's accounts.
I even told Ted Poe that based on his vote against the bailout that I'm voting for him this fall. I've expressed the same sentiment to Senator John Cornyn that if he does vote for the proposal I will not vote for him come this fall. I didn't let him know that I don't plan on voting for him this fall anyway.
Major props to the Congressmen and women who voted against the proposal.
I feel so strongly against the bailout that I've written my Congressman Ted Poe and the two Texas U.S. Senators and told them not to vote for the proposal. That the proposal will do nothing but reward Wall Street fat cats for failed greedy policies and put the expense of those mistakes on the taxpayer's accounts.
I even told Ted Poe that based on his vote against the bailout that I'm voting for him this fall. I've expressed the same sentiment to Senator John Cornyn that if he does vote for the proposal I will not vote for him come this fall. I didn't let him know that I don't plan on voting for him this fall anyway.
Major props to the Congressmen and women who voted against the proposal.
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