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I'll have to work on that.
C'mon, she's been a good mother to Chelsea; she hasn't killed anybody, including her philandering husband; she's been an effective senator for her adopted state of New York; she's smart as hell and knows all the ins and outs of public policy, ranging from her hard-won expertise about what will and won't work on healthcare reform to how to deal with tyrants and dictators and the globalized economy, and she even knows how to do Saturday Night Live and Stephen Colbert.I really liked the part about her "hard-won expertise about what will and won't work on healthcare reform." That's a lot like saying the Minnesota Vikings, by virtue of having lost 4 Super Bowls, have hard-won expertise about how to win the big one. Sure, they've seen it done close up, but for some unexplained reason, they haven't actually done it.
OK, so she tried to make it look like she braved incoming on her trip to Bosnia, and that she helped settle the Israeli-Palestinian problem*...
Let's let Hillary off the hook for her Bosnia boast and judge her for what she is, and not for what she sometimes says she was.
I tell you that the things offered by the pagans are offered to evil spirits and not to God. And my desire is that you not have anything to do with evil spirits. - 1Cor 10:20The former worshipers of Mars and of Diana, people who believed fervently in their existence and power, were not told by Paul that such beings did not exist, but rather that their true form had been concealed from them. The things sacrificed to Mars were sacrificed to evil spirits (demons or devils, if you will), and few Christians*** will deny that such non-physical beings exist. But even if they do not, even if we moderns believe that they do not, it does not change the historical fact that Christianity has asserted that when the worshipers of Mars sacrificed to Mars, Mars received their sacrifice****. The early Christians believed their pagan neighbors were in real spiritual bondage because they were under the influence of the real spiritual creatures they had chosen to follow.
Yes, parents sacrificed their sons and their daughters to devils. They shed the innocent blood of their sons and of their daughters, sacrificing them to the idols of Canaan.Or we could take it back to Moses:
-- Psalm 106:37-8
[Some Israelites] sacrificed to devils and not to God. They sacrificed to gods they did not understand, to new gods newly arisen, gods whom your fathers did not know. -- Deu 32:16In short, Judaism long before Jesus and Paul taught that the gods whom the idols represented were real beings. I won't bore you with any more of that*****, as I think the point is made. The Christian and atheist worldviews are not different simply in the inclusion or exclusion of a single non-material being from some list, but of the existence of any such beings in the first place.
Hollister - Despite making only $14,000 a year, strawberry picker Alberto Ramirez managed to buy his own slice of the American Dream. But his Hollister home came with a hefty price tag - $720,000.White people who live in a house that costs the equivalent of 100,000 hours of their work apparently do not "suffer" when economic reality asserts itself - just one more bonus for us, I guess.
A year and a half later, Ramirez has defaulted on his loan, and he's hoping to sell the house before it's repossessed. And according to many housing advocates and civil rights groups, Ramirez is not alone. As mortgage foreclosures rise, many minorities are suffering...
To some, the $30 billion deal allowing JP Morgan Chase to buy Bear Stearns deal also raised a fairness issue: Should the government bail out a prestigious investment bank while doing little to address the hardships of Americans facing foreclosures on their homes, or caught in other troubled segments of the economy, such as laid-off factory workers?Of course it does**, which is why it's imperative that the door not be opened in the first place. Now that it is opened, and now that it is obvious that the Fed, the Congress, and the Executive Branch have shown no propensity to keep anyone out provided they make sufficient noise, the whole mob is coming to Treasury, torches and all.
..."The big thing about the Bear Stearns bailout--if you want to call it that--is that it kind of opens the doors for other types of bailouts like for homeowners and individuals," said federal budget expert Stanley Collender.
"All we're saying is homeowners need assistance too...You can't bail out the investors, bail out the wall street firms who created this crisis and leave homeowners at risk. We think that's not fair. And that's not the American way."Obviously the American way is to give everyone enough money that they can't possibly lose it all, no matter how stupidly they act.
Dear Mom and Dad:* there's actually a very easy way, I hear. I just haven't cared enough to follow up on it.
Thanks for the money you sent: I spent it all on salsa CDs.
Here at the University I have two classes (tengo dos clases). The first is the History of Mexico and the second is brats' literature (literatura de mocosos). My history professor is quite tall, but he's very ugly. He's also boring (es muy aburrido), which is why I will have to drink a lot of beer (tengo que beber muchas cervezas) if I hope to pass his class.
My literature professor is rather eccentric. On Monday she brought her pet cat to class, and we discovered that cats really do not swim well at all (los gatos no nada bien). We all ate cat empanadas with cheese (con queso), which made her very angry, but I didn't think it was a big deal (no importa). We don't study literature much (no estudiamos nada) in her class but it can be fun at times.
Overall, I dislike college quite a bit (no me gusta la universidad). In fact, I'm pretty tired of everything here except for my many new friends, whom I like a lot. We spend a lot of time together. On Mondays we drink a lot of beer. On Tuesdays, we surf the internet (navigamos por internet). On Wednesdays we drink more beer. On Thursdays we sing all night. On Fridays and Saturdays we don't drink any beer, instead we drink cuba libres and dance with girls at the nightclub. On Sundays, though, I prefer to stay at home (prefiero cadarme en casa) to read history and literature. After all, it's important to get good grades (sacar buenas notas) at University.
Your loving son,
The film opens in a familiar style (a la The Deadly Mantis and Empire of the Ants) with a narrator giving us background which will help set us up for the horror to follow. In this case, stock footage is shown of a rabbit round-up in Australia in the 1950s, where populations overran vast areas, "destroying crops and threatening Man's very existence."
"Does Man have the right to defend himself from this menace?" he asks us knowingly, "And if so, how?" We are left to ponder these deep questions as the stock footage shifts to the American southwest (and into color), where another rabbit round-up is underway. But these aren't the wild, mangy, hares of the Australian Outback, these are wild, mangy hares of Arizona, which switch quickly to fat, pet store bunnies in freeze frame as our title comes up on the screen.
Rancher Cole Hillman (Rory Calhoun) seems to have a problem. He's galloping his horse through open range with what are apparently huge anthills spread about. Carefully he points his trusty steed between two of them until, "Breeeeheeeheee," the horse goes down. Rancher Cole, surrounded by normal-sized pet store rabbits, feels the horse's leg and lets out a groan. Then he pulls out a rifle from his saddle, aims, and has to walk the mile back to his home carrying the rifle on his shoulder. When he arrives, his nameless son (hereafter known as "Boy") asks "Where's Ranger, Dad?" Rancher Cole sends a farmhand out to retrieve his saddle from Ranger, who has suddenly died of lead poisoning, and picks up the phone. Rancher Cole has had enough.
"Mildred," he tells the operator with whom he is on a first-name basis, "Get me Doctor McCoy at the university." Actually, he asks for Dr. Elgin Clark, but in the next scene, he's walking at the University talking to Dr. McCoy (DeForrest Kelley) from Star Trek about how to get rid of the rabbits. McCoy offers the services of a local professor, but Cole is having none of that - apparently that guy killed off Cole's coyotes so well that the rabbits have no natural enemies left, which accounts for their profitable hole-digging business at Cole's Ranch. But luckily, there's an exchange professor in town who's trying to control things rather than poisoning the heck out of them. This exchange professor has a wife and an annoying child. That's just what this movie needs.
The wife is Dr. Gerry Bennett (Janet Leigh), and Annoying Child (or AC) is their precocious and impish daughter, Amanda (Melanie Fullerton). The man fortunate enough to head such a family is Dr. Ray Bennett (Stuart Whitman), who is at present outside the BatCave, putting bats in a box and shaking it so he can record "The Cry of Fear" on his tape recorder. He's such a serious scientist that he doesn't even go down to meet the man that Annoying Child calls "Uncle Elgin" (but we know as Dr. McCoy). Instead, he shakes the box again and attempts to record the bats. I guess some things just can't be done in a place like, say, a quiet laboratory.
Without so much as a "Hello" to Dr. McCoy, he informs us that he's going to use the bat's cry to scare them into areas which are overrun with mosquitoes. McCoy tells Doctor Ray about Cole's problem and about how he was a great football player in the 1940s, which induces our fearsome threesome to visit Cole's ranch. A rabbit hunt is underway, but long gone are the mangy, wild rabbits from our intro. These are fat, black and white pet rabbits, and Annoying Child hides her face from the spectacle and announces, "Mommy! I like rabbits, Mommy!" as if we expected anything else from a 9-year old who aspires to be a harpy biologist like good old mom.
More stock footage is shown of mangy, wild rabbits being caught in nets and put in cages, and Ray picks a fat, happy bunny out of one of them while remarking that this is no ordinary rodent. Cole relates how a neighbor used to raise domestic rabbits, but during a fire a couple hundred got away and mixed in with the local population. This explains why any time we see a rabbit from here on out, they are of the pet store variety (or a guy in a rabbit suit). "So they're mongrels," Dr. Gerry informs those who slept though genetics in 6th grade science class. Thanks, Doc.
After returning to the lab with two dozen rabbits, Annoying Child introduces us to the concept of the control group. Ray has a new serum from some Dr. Dirkson, which he magically knows the rabbits have never been exposed to. "I wish I knew what the effects of this serum would be," he ponders (you might try it...I always thought that the purpose of testing was to find out what those effects would be). But after injecting the serum into Annoying Child's favorite bunny, AC switches the rabbit into the control group, so apparently we're going to have to find out what the effects are the hard way.
Soon AC, in a fit of lacrimation, induces her parents to let her keep one rabbit, which not surprisingly is the same rabbit which has just been injected with the mystery serum. Upon returning to Rancher Cole's, Boy struggles with AC (rabbits killed his chickens, and he hates ‘em), and the rabbit escapes down a hole, so we are off to Wonderland. Meanwhile Rancher Cole establishes himself as our Environmental Hero, because he burns the ground between his ranch and the neighboring ranches to "starve ‘em out natural," much to the chagrin of his Environmental Villain neighbors who still say poison is the way to go. In this case, they're right.
Cut forward an indeterminate amount of time, and Cole and the two doctors make a startling discovery. Near a pond there is a footprint, bigger than Cole's hand, with five elongated claws like a bear's. Could be a mountain lion, but Cole hasn't seen one of them around in years. Whatever could it be? Meanwhile, Annoying Child and Boy are riding some ponies up to see Captain Billy, an unsuccessful gold miner who lives alone in a shack nearby. Upon not finding the Captain in his house (maybe the miner is in the mine?), Boy sends AC into the old shaft by herself to find him while he looks inside the same shack he already looked inside. He discovers more prints in some overturned flour. Now, while sending a nine-year-old girl alone into an old gold mine might seem dangerous, it's actually an opportunity to introduce our villains, and AC finds the body of Captain Billy, gets the snot scared out of her by pet store bunnies of indeterminate size (watch for the ripe red pin tomatoes on the ground near one of them...if these were real big rabbits, these would be tomatoes a foot across -- how do they grow inside a gold mine?), and awakens at home in a delirious fever. As I said, these are no ordinary rodents.
Dr. Gerry, snappily dressed in an early 1970s acid trip shirt with wavy gray and brown lines all over it, assures us that there is really something in that shaft ("Well, something scared her half to death"). Boy, who lied earlier about asking permission to go to the mine, now lies again by saying that he was in the mine shaft when he heard her scream and that he first saw her coming out of the shaft (how he managed to do both simultaneously is not really explored). In reality, he went into the cave while she was in there, and we can only assume they left together. But hey, what's a lie (or poor scriptwriting) between friends, since nothing ever comes of it?
Now the fun begins. It's nighttime, and a man in a refrigerated produce truck is driving on an unlit road in the middle of nowhere. Though it's cold enough outside that we can see his breath, for some reason he pulls off to the side of the road to check the thermostat in the back of the truck. Apparently he's concerned that the produce might be too cold or something, so he puts on his hazard lights and goes around to open the back door. One second to shine his flashlight into the back and he's completed his task, but then he hears the somethings that Gerry has convinced us exist. Shots of rabbits, close up, shots of rabbits far away, man looks into the dark but for some reason light is shining on his face, so bright that we can see his shadow on the truck. Rabbit. Man. Rabbit. Jump. Aaaahh! If you stop your truck in the middle of nowhere for no reason, you're rabbit chow.
It's the next day, and a mustachioed Deputy Sheriff is driving by. He stops to examine the truck. Hazards are still flashing, and the flashlight is still bright (where can I get batteries like that?), but the produce is all gone. Finding pieces of the man's shirt and then pieces of the man, he calls Sheriff Cody (Paul Fix), but apparently the news that you have a dead body by a truck can't be disclosed over the police radio, because the sheriff asks, "Now what's so urgent?" as soon as he arrives. While they are examining the body, a phone call (yes, they have a real telephone in the car) comes in. I guess the folks at the ranch have finally decided to tell someone about dead Captain Billy after all.
Later, back at the lab, Dr. Leopold is explaining to Sheriff Cody that the tin cans and boxes that they recovered were not chopped with an axe but were bitten through "slowly and with great strength" and that saliva was found on the victim and the assembled accoutrements from the site. Sheriff Cody even looks through a microscope (apparently, he's an expert on saliva), and we get a one-second shot of something that looks vaguely scientific. Then he backs away from it. He's obviously impressed and wonders out loud if vampires could have created all this commotion -- vampires that haul off truckloads of lettuce, I guess. We switch to an unnamed deputy calling in that a family of four has been horribly mutilated. I guess he's free to disclose the fact over the radio, so mustachioed deputy must be on radio probation or something.
We go back to a different lab, where a doctor (an expert on birth defects and really terrible haircuts) is explaining how giant rabbits could have come from a single one getting loose. He does not bother to inform us how hundreds of them could have grown to full size without either eating or being seen, nor why they chose the previous night to begin their murderous rampage. Gerry (still dressed in her acid trip shirt) suggests that Sheriff Cody be brought in but is overruled by McCoy and Ray. Apparently the facts that at least six people are dead and he's looking for vampires do not concern our heroes enough to inform someone in authority. They've got more important things to worry about, like the university's reputation, so they get Cole, his buddies, and some leftover dynamite they got at 7-11 for a trip up to Captain Billy's playground to see if they can solve the problem themselves. (Spoiler alert: They can't.)
The fearsome threesome apparently travels the globe in a lime green pickup with a camper on the back (this becomes important later), and they reach the mine with Cole, McCoy, and some others (but without AC), only to discover that the monstrous rabbits have opened up three holes in the area above the mine, where McCoy and an unnamed fellow Voyager are to set up dynamite. McCoy drops a rock into the hole (after we view the same frothy-mouthed, turning-away bunny that we've seen three times already), and asks Ray if he can hear the bongo music played by the rabbits over the CB, which he is holding down into the hole. Apparently, these are special magic CBs which allow people on both ends to talk and listen simultaneously, because we continue to hear the rabbits from McCoy's CB as Ray tells McCoy he's going in to try to take one out alive. "Whatever is in there is a mystery," he reports. And since he is a man of mystery (though whether he's "international" I don't know) it's his job to solve it before he buries them forever. I guess he forgot that mine shafts can go into the mountain for miles, might have several exits, and even if they plug them up, rabbits can dig their way out, as evidenced by the three holes above. Either way, he and Cole take flashlight, camera, and a rifle into the cave entrance to solve the mystery of the Easter Bunnies from Hell.
The rabbits, understanding their impending doom [insert /sarcasm tag here] have moved about a half mile into the cave, which should tell Ray and Cole that dynamite blown up at the entrance is unlikely to kill them, but apparently they overestimate the power of the stuff.
Finally, we get to see rabbits and humans in the same frame. The way it's done is by filming two sequences, one of humans on the left side of the screen and one of rabbits on the right side, and splicing the parts together. In this scene it's done well...in others, well, let's just say the rabbits are inconsistently proportional at times. Anyway, now that we've photographed them, it's time for the "run away" scene, where Cole and Ray make their way back to the cave mouth, only to have Cole get jumped on by a guy in a rabbit suit. Ray uses the rifle not as a gun but as a bat (he's quite the sportsman), and the rabbit grabs its head with its very human arm and falls off the uninjured Cole.
Not remaining uninjured is Jed, who's hanging out with Dr. Gerry outside the mine. He wanders into Captain Billy's former residence, while, outside, a light brown velveteen rabbit digs its way out of the ground (it's actually just buried in the loose dirt and sits up). Inside, Jed is jumped on by a guy in a dark brown rabbit suit made of shag carpet, and Gerri runs in and shoots the bugger. Jed, covered in blood, comes out of the shack just as Cole and Ray exit the mine and it blows up. They all watch the dust fly, and no one asks why he looks like he just lost Hell in a Cell.
Back at the lab, the doctors are poring over the photograph of the rabbits in the cave, apparently forgetting Gerri killed a real one in Captain Billy's shack. Being more afraid of the press than the rapacious residents of the Warren of Death, Gerry and Annoying Child decide it's time to head for the lodge in the lime green pickup.
It nighttime again, and all the dead rabbits are on the prowl. Climbing gingerly out of their faux grave, the bongo music starts up again, and we see them galloping past model houses toward Cole's real house, and his horses don't like it one bit. Over the protests of Cole, they break out of their corral and run away into an open plain where there is sunlight shining. The rabbits, still in a time zone where it is dark, approach the top of the cliff. The horses, in the middle of a valley bereft of cliffs but full of sunlight, are still running. Then the rabbits jump, and a guy in a rabbit suit lands on a screaming horse. Jed, apparently recovered from his beating, decides it's time to play "guy who gets scared by the dark and runs away in a panic." Haven't seen many of these movies, have we, Jed? He jumps in the truck and drives off, while Cole goes in to call Mildred, who runs a glass-fronted general store in addition to being the phone operator. Jed sees a bunch of rabbits, so he hauls back to the ranch and hits the telephone pole (yeah, never saw that coming), jumps out of the truck, and in a scene usually reserved for the heroine, trips over the only board in sight as the rabbits close in. Here we can see perfectly how the rabbits and human scenes are spliced together. If you look at the sky you can see that it's day on the left side of the sky, night on the right, and there's a straight line separating them. Anyway, the rabbits leap into nighttime and attack Jed.
Due to improper matting, the rabbits are now as tall as the truck and have parts of the fencing sticking through them, but with the help of the guy in the shag suit, they finish off Jed while Cole and his family hunker down in the basement. The bunnies run across some Astroturf (the only green grass in the whole movie) to rummage through his kitchen while he shoots them from underneath. The rabbits decide it's time to kill Mildred instead, so they retreat back across the Astroturf.
Mildred is unsuccessful in getting her checkers-playing husband and his buddy to run up to see why Cole's phone call was cut short, and they leave her to her death. Once they are gone, taking the only truck in sight (maybe she flies home?), the rabbits arrive. Smartly locking the glass door for protection, Mildred stands in front of it and waits, making scared faces by bulging her eyes out. Checker-buddy is also toast, due to the fact that he takes a full 45 seconds and five backward glances to walk the ten feet from the gate to his house. Once the bunnies arrive, he picks up a chair and hits one, then gets blasted through the front window. Ahhh, home sweet home.
It's morning, and time for Dr. Gerri and Annoying Child to head for the lodge. At the first turn-off, she gets stuck in the sand. We'll be back to her in ten hours or so. Meanwhile Sheriff Cody arrives from the crime lab, and he knows the problem is rabbits, so let's jump in the police helicopter and go for a look-see at all the dead ones from yesterday's Fourth of July celebration. McCoy and Ray tag along. Once they reach the mine they find that the rabbits aren't dead but have re-dug the same holes. McCoy drops a rock into the hole, hears a thud, and deduces that the rabbits have gone. But where?
Cole is hiking into town and discovers Mildred's body in the General Store, along with about 20 rabbits, which is supposed to represent all of them, I guess. Tossing his rifle away, he hitches a ride with a friendly priest and joins the others for the final Heroes' Death Battle with the furry firebrands. It's night again (apparently we went the whole day without actually doing anything), and now there are hundreds of rabbits approaching the city (which is being evacuated) on a front two miles wide. How hundreds of eight foot rabbits could have hidden out all day long in a 30x30 foot General Store is beyond me, but the National Guard is coming, and Doctor Ray has an idea. Electrify the railroad tracks and shock and awe them to death, of course. The rabbits are spending the early evening crossing bridges, playing the bongos, and jumping off cliffs. They even manage to catch a herd of cattle (stampeding across the plains in broad daylight), drag them into the darkness, and kill them. But where is Gerry? Why hasn't she called? Annoying Child informs us, once again, of how scared she is.
Now, how do you funnel hundreds of giant killer rabbits into your half mile of electric railroad tracks? Of course! With lots of cars! Just because we've evacuated the town doesn't mean that hundreds of people won't be enjoying a Tom and Jerry cartoon at the drive-in, so a deputy easily convinces the moviegoers that they should turn on their lights and follow him to save the town. They line the cars up to wait for the horde.
Since Ray hasn't heard from Gerry yet, he jumps into the chopper with Sheriff Cody's sidearm and heads up to the lodge. Gerry, who has been digging in the sand since morning, has still not freed the lime green truck o' death, but she does have a hole about eight feet deep behind the back tire. It's dark now, and the rabbits are coming.
Now it's time to break out the highway flares. Obviously, Gerry has seen Empire of the Ants and knows that no matter the odds, all giant monsters can be held off with highway flares, so she locks Annoying Child in the back of the truck and rather than joining her in a safe, aluminum cocoon, stands at the back of the truck to do single combat with the furry mischief makers. Annoying Child, her head in the window, cries out, "Mommy! Mommy! Look out, Mommy! Oh, Mommy, I'm scared!" until I was ready to yank open the camper door and toss her to the beasts myself.
We switch quickly between Doctor Gerri in front of a full-size truck with two windows in the camper to a model truck with only one window, surrounded by rabbits as big as it is. Gerri, running side to side holding the flares in front of her, manages to ignite a dead rabbit on a string (where's the ASPCA when you need them?), and Ray arrives just in time with the chopper to scare the saber-toothed monsters away. Now we're set for the final showdown.
Imagine it, if you will. There's a line of cars to the east and one to the west. The track has been electrified, and here come the rabbits, right for it. The National Guard, McCoy, Ray, and Cole have their guns out, and as soon as the rabbits arrive, they begin firing, oblivious to the lines of civilian-occupied cars right behind the rabbits. As the rabbits jump across the model train tracks, they panic and flounder, but it's too late for them. Sparks, fire, and the stench of burnt rabbit fur fills the air. The killer rabbits are defeated.
Jump forward an indeterminate period of time, and Dr. Ray is playing football, apparently at the college, when a happy Rancher Cole shows up. He's pleased because there's a new pack of coyotes in the hills. "Any sign of rabbits?" Ray asks. "A couple," laughs Cole, "but they're nothing like they used to be, hahahaha."
Scene to watch for: The Drive-in. During a Tom and Jerry cartoon, a trooper announces over his loudspeaker, "Your attention please. A herd of killer rabbits is headed this way. Everyone turn on your headlights and follow the police car at the entrance of the theater." Like all loyal citizens, they do.
Best line: Rancher Cole sticks his hand into the cage to pull out a bunny but jerks his hand back and says "Ow!" "What happened?" Dr. Gerry asks. "A rabbit bit me," Cole informs us. Ummmm, duh?
Things that make you go "Huh?": The film begins recalling the woes created by Man when he introduced rabbits into an environment where they did not exist previously. So why is it that the first thing Doctor Ray is doing is planning to introduce bats into an area where they do not exist? This guy's our hero?
With the dollar rising all of a sudden, and commodity prices plunging, this would be a great time for the Treasury to get out there and buy dollars. Totally squeeze the short sellers. Right now. Send a clear statement that the U.S. wants a stronger dollar. It would do a lot to reduce inflation expectations. And it would drive gold prices down $200 from here.I have to admit I'm not terribly surprised to see a Republican partisan talking head like Kudlow come right out and call for blatant government manipulation of the currency and commodity markets* - I suspect we'll see the same thing in a McCain administration, were there going to be one, which there's not. And Mr. Kudlow does not let us down if we were expecting he would, like many of his party, mistake talking about a strong dollar with increasing American prestige**. Currency strengths reflect a number of things, including national prestige, but that does not make cause and effect interchangeable here - you don't increase your national prestige by talking up your tattered currency or manipulating it on world markets.
Officials in the Philippines are warning Catholics that a longstanding Easter tradition of crucifixion and self-flagellation could be bad for their health, the U.K.'s Telegraph reports...I'm not sure how one goes about sterilizing a whip to the point that laying open scores of bloody wounds on your body will not get infected. But while this Easter shares with all others the freakish sideshow known as re-enactments, one thing that has been missing this season has been that one big story that is supposed to show that the re-enactments are missing that crucial "re-" element.
In the Philippine’s San Fernando City, 23 people, including two women, have signed up to reenact the crucifixion. Four will use real nails, the Telegraph reports.
But government officials are warning that doing so is dangerous and can lead to serious infections. They are encouraging worshippers to get tetanus shots first and to be sure to use clean whips and nails for their reenactments.
Bank runs are not far off, are they?Bank runs are already here, but not the kind you're thinking of.
Democratic Senator Charles Schumer likened Bush to president Herbert Hoover, who led the United States into the 1930s Great Depression.While it is true that the words "Bush" and "Hoover" will soon be synonymous, it is a bit of Democrat mythology that Hoover took a hands-off approach to anything. Hoover was, in fact, a Progressive (with a capital P) and an engineer, who relished the chance to show how government could scientifically if mostly voluntarily* manage such a crisis. He created the first national unemployment insurance and entities like the Federal Home Loan Bank in order to help people (wait for it...) purchase homes. He promoted public works, not because things needed to be built because people could be employed in building them, and he lent money to cities and states to do the same. Yet even with more intervention in the economy than any peacetime administration before him, he failed to arrest what the Fed had wrought. He failed, but he didn't fail to try.
"We're in the most serious economic problem we've been in in a very long time, much worse than 2001. The president's hands-off attitude is reminiscent of Herbert Hoover in 1929, in 1930," he said on Fox.
[People were] persuaded to abandon such traditional values as saving, postponing pleasures and purchases, and buying only what they needed...Hoover is today accused of being laissez-faire by those who love spending and centralization, yet in the ultimate irony:
Many banks had made loans to businesses and people who now could not repay them...
As people lost their jobs and savings, mortgages on many homes and farms were foreclosed...
The initial government response to the Great Depression was ineffective, as President Hoover insisted that the economy was sound...
Hoover believed the basic need was to restore public confidence...
...[I]t was Roosevelt who accused the President of "reckless and extravagant" spending, and of thinking "that we ought to center control of everything in Washington as rapidly as possible." Roosevelt's running mate, Congressman John Nance Garner of Texas, 63, even claimed that Hoover was "leading the country down the path of socialism."Then FDR got the reins of power and gave America the same thing Hoover had, but with more acronyms and with no lube. Then the whole world went to war and millions died in ovens, on battlefields, and beneath the rubble of burning cities.
JPMorgan Chase said Sunday it will acquire rival Bear Stearns in a deal valued at $236.2 million--or $2 a share--a stunning collapse for one of the world's largest and most venerable investment banks.And just like that, the nation's fifth largest investment bank - and one of only 20 primary dealers in US Treasury securities - is no more. This is the same Bear Stearns that the Fed bailed out the day before yesterday. This is the same Bear Stearns that closed at $60 a share the day before that. This is the same Bear Stearns that traded north of $160 a few months ago. This is the same Bear Stearns that just 6 months ago was bailing out its own hedge funds; now it has taken a buyout deal, funded by the nation's central bank, to keep it from imploding utterly and taking the world's derivatives-based financial system with it. Chase has bought a rival on the cheap, with taxpayer money provided via a special loan from the Fed*, but in the end, all it has bought for itself is a little time, because Bear Stearns derivatives are tied into every major bank in every nation in the world** to the tune of nearly $50 trillion dollars.
The last-minute buyout was aimed at averting a Bear Stearns bankruptcy and a spreading crisis of confidence in the global financial system...
Three-month Treasury bill rates sank 30 bps this past week to 1.17%... The spread between MBS and Treasuries narrowed 18 to a still extraordinary 200 bps. Widening further, the spread on Fannie’s 5% 2017 note jumped 11 to 99 bps and the spread on Freddie’s 5% 2017 note surged 10 to 98 bps. The 10-year dollar swap spread narrowed 15.2 to 70.80. Corporate bond spreads were volatile and ended wider...but when stolid and sober guys like Noland start dropping quotes like this:
The most common arguments for the Bible's authenticity commit a fallacy known as begging the question. Begging the question uses the conclusion of an argument as a premises or an intermediate step. For instance:The first thing we must confess is that Spread Rationality’s argument is absolutely correct as presented. However, the problem with the argument is that it is not necessarily complete. Step 1 is a big (and in this case fatal) assumption, but is it possible that there is a way to argue to step 1 using another basis, i.e. that it can be a conclusion rather than an assumption? I think there is. In fact, there are several, but I’ll only take on one here, that is historicity.
The first step of this argument asks that we assume that the conclusion is true. This means that although the rest of the argument may logically sound, the conclusion has no bearing on reality.
- 1. Assume the Bible is true.
- The Bible says that God exists and inspired the Bible
- Therefore, the Bible is true
How desperate would you have to get to burn down your own home just to avoid foreclosure?Fear is going to make a lot of people do a lot of things that in other times might have been considered crazy. But as Charles Mackay noted in his famous tome*, "Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."
It's an arson trend nationwide and one North Georgia fire marshal says it's happening in his county...
The Walker County fire marshal explains, "We'll just ask the people, you know, why did you do it and they'll just tell us, well here's why."
And the why turns out to be quite simple: fear of losing it all.
NEW YORK (Fortune) -- With a vicious storm pelting the markets, Treasury Secretary Henry Paulson is urging bankers to batten down the hatches - possibly foreshadowing an expanded government role as a financial-sector investor...There is a word for government ownership of the means of production, and that word is "socialism." Socialism always fails because it lacks the kinds of feedback mechanisms that reward good decisions and punish bad ones. It always results in stagnation and collapse as bad decisions eventually overwhelm the system. Then skulls pile up and we start over.
A federal purchase of Fannie or Freddie debt could make sense for all involved if the securities convert into common stock or carry equity warrants. [David] Merkel says a government purchase of, say, convertible subordinated debt would help the companies reliquefy their balance sheets while allowing taxpayers to participate in the gains of an eventual market recovery...
That's very much the thinking of Nobel-winning economist Myron Scholes, who tells The Wall Street Journal that the government should be looking to buy into all sorts of private-sector financial firms.
Grounded Theory represents an inductive investigation in which the researcher poses questions about information provided by respondents or taken from historical records. The researcher asks the questions to him or herself and repeatedly questions the responses to derive deeper explanations.No, this one's not an error. There really is a branch of market research where I as a researcher get to ask myself questions about your problems, then repeatedly question my own answers, so I can get a deeper understanding of what is troubling* you.
- my marketing textbook, P138.
This is one of the sadist days in memory.On picking a President:
I'm voting for Hillary. Her husband was heavily influenced by her and he was the best president since Ted Kennedy.On the Governess' Christmas tree:
I pity the loss of this most potential bird nesting place, and the increase in hydrocarbon release this wood will cause in a fireplace, and the lack of oxygen this tree won't be able to produce for our earthly well being. Quite ironic isn't it? May Mother Earth find solace in this great loss.On "look, up in the sky":
The war birds of death scared my two poodles almost to death. The poor babies were yelping for an hour after these death machines made their exit.On personal hygiene:
Hand washing is a waste of water. It should be discouraged.On the future of America's youth:
I'm proud to be an anti-American bisexual anarchist leaning anti-corporate American socialist Democrat Atheist environmentalist, because at least I know I'm free.It's just a shame that she forgot to mention "school teacher." It's 2008. Do you know where your children are?
PSU Women’s Studies Program will offer cash prizes (made available through the Office of University Advancement) and publication consideration for the best essay by a PSU student on a subject concerning women or gender rolesEven though I could probably nail "impact on the reader," I'm pretty sure there are easier ways to not make $75...
Three awards will be given: first ($75), second ($50), and third prize ($25)...
All entries will be judged according to the following criteria: Relevance to Women’s Studies, Originality and/or Depth of Analysis, Quality of Writing, and Impact on the Reader.
"The necessity of the times, more than ever, calls for our utmost circumspection, deliberation, fortitude and perseverance."
-- Samuel Adams