Daily Archives: September 13, 2012

Fed Undertakes QE3 With $40 Billion MBS Purchases Per Month

Bloomberg has produced the story Fed Undertakes QE3 With $40 Billion MBS Purchases Per Month.

I found Mitt Romney’s reaction to this hysterically funny.

Republican presidential candidate Mitt Romney has said he wouldn’t reappoint Bernanke when his term ends in January 2014. Lanhee Chen, Romney’s policy director, said the announcement of QE3 is “further confirmation that President Obama’s policies have not worked.”

“We should be creating wealth, not printing dollars,” Chen said in a statement.

Looking at my own investment portfolio and multiplying by how much larger than mine is  Mitt Romney’s portfolio, if Mitt Romney is no better an investor than I am, he made $3,500,000 today.  I guess with Romney’s net worth of $250 million,  making $3.5 million a day isn’t considered real wealth.

Brown pushed STOCK Act, but bill Obama signed in ad was not his

The Boston Globe has the article Brown pushed STOCK Act, but bill Obama signed in ad was not his.

Brown has said that he does his homework and that he reads the bills that come before Congress. But in this instance, Brown’s measure was so hastily drafted that it contained exact language lifted from an earlier House bill on the same subject. And even after Brown’s draft was set aside by the Homeland Security Committee in favor of another version, Brown continued to claim credit in an encounter with President Obama. In January, Brown intercepted the president as he departed the House after his State of the Union speech.

In the greater scheme of things, this would not be a big deal.  However, if Brown is pushing the dishonesty meme on Elizabeth Warren for something that may be even a lesser deal than this, then I thought people ought to know.

At the very least, Scott Brown is claiming credit for something that others accomplished.  In the working world of engineers, having your boss take credit for your work is a pretty obnoxious thing for your boss to do.  When I had engineers reporting to me, I was extremely careful to give credit to the people who deserved the credit.  If something was accomplished by an engineer reporting to me, I thought that would reflect well enough on my management, that I had no need to claim credit for the work myself.

If I felt upper management was attributing work to me that was actually achieved by someone reporting to me, I went out of my way to disabuse upper management from their mistaken notion.  In one instance, that might have been instrumental in keeping someone who was worth keeping instead of potentially letting him look for a job elsewhere.

If I couldn’t keep my job based on the work that I did, then I was not worth keeping.  I felt confident enough never to have to work in a place where I wasn’t wanted.

Bill Clinton’s Complete DNC Speech

While I am catching up with my postings on the Democratic National Convention, I really ought to post the most important speech of the convention. As President Obama has begun to call him, Bill Clinton is the administration’s Secretary for Explaining Stuff.

If there is one word of this speech to remember, it is “Arithmetic”.

Democratic National Convention Speech Reaction

I was mystified at some of the negative reaction I read about Elizabeth Warren’s DNC speech in the ensuing days afterwards. I was wondering if these people watched the same convention that I did.

Here is a little mix-tape put together by the campaign about the reaction on the night of the speech. Apparently at the time of the speech, the commentary was not all that bad.

If you want to see for yourself, look at my previous post Elizabeth Warren’s DNC Speech.

As I said there, since I watch these events on C-SPAN, I don’t get the displeasure of hearing the words of the commentariat class. If I must hear those words at all, then it is much better to hear them in a context that won’t set my blood to boil.

Elizabeth Warren’s DNC Speech

I listened to this speech on C-SPAN, so I didn’t get to hear any extraneous commentary from the talking-headitariat. I was also watching at a watch party at a bar in Southbridge, so I am not sure I got the full impact. I thought it was a very good speech.

Chicago Teachers Strike Rooted in Community Struggle

The Real News Network has produced the report Chicago Teachers Strike Rooted in Community Struggle.

I figure that this side of the story might not get adequate coverage in the lame stream media. Now you know what the teachers are saying the strike is all about.

I have read comments about this story to the effect that the teachers are asking for money that is just not there. From another point of view, you might say that the money is there, but the government has decided to give that money to the wealthy instead of paying adequate salaries to their employees. The private sector is driving down wages in the name of profit and the governments are doing it in the name of not taxing the “job creators”. If people don’t band together to fight for their own interests, how do you think this story ends?

I leave it up to your built in biases to decide which side to believe.