Thursday, October 30, 2008

The Media's Effect

Much has been made of how "in the tank" the mainstream media is for Obama. I have followed all presidential elections since 1972 and I cannot remember anymore one-sided reporting of an election as this one. While usually they defend themselves this year they are pretty unabashed with their positive reporting of Obama and negative reporting of McCain. But the question is will the result be positive or negative?

A perfect example is how they have dealt with Obama's decision not to accept federal matching funds as defined in the campaign finance reform law. The fact that he made a pledge to then reneged on that pledge is the key point, not the money itself. In 2000 when George Bush made a similar decision he and his "fat cat" Republicans were roundly criticized in the press for trying to buy the election. No such criticism for Obama. The difference is that Bush never said he would accept matching funds and the limits imposed by them. With Obama it seems that promises are only valid when it benefits you. He obviously has raised a buttload of money and, as evidenced by the 30 minute infomercial played on the major networks last night, he is not afraid to spend it. I guess the ends justifies the means.

Another example of how the media is in the tank regards the infomercial. Being a practicing insomniac I watch news programs all hours of the night. Obama received "reporting" of his infomercial as "news" throughout the night, many programs replaying full segments of it. A paid political commerical being the lead story in the news seems a little out there to me.

If this sounds like sour grapes, I guess it is. If they were behind my candidate I would probably relish the free advertising. But it still would not be right! The media has the responsibility to report the facts and to limit bias as much as possible.

Tuesday, October 28, 2008

The Passing of a Lady

I just received a call about a lady I know passing away tonight. She blessed this world with her presence for 92 years. She saw more hardship in her lifetime than my spoiled generation could even imagine but always had a smile and laugh for everyone she met.

I came to know Anita in May of 2006 when I became the Administrator of the nursing home where she lived. My earliest recollections of her were twofold; I broke up an argument between her and a man who dared to sit in a chair in the lobby that she was convinced belonged to her. The second was that she tried to get me to hire her because she wanted something to do. She was 89 at the time. Both of these episodes were replayed many times because you could not convince her that the chair belonged to the facility or that she really didn't need to do any work. Nonetheless she was always happy to see me and put a smile on my face when I would have my talks with her. She was one of my favorite people and I will miss her greatly.

Anita was a member of what Tom Brokaw called "The Greatest Generation". They are leaving us at an alarming pace and I will be very sad to see them go. If you know anyone 80 years or more old please show them the respect they have earned and brighten their day while you have the chance.

Saturday, October 25, 2008

What Is So Scary About Palin?

Since that Friday in August when John McCain chose Alaska Gov. Sarah Palin as his running mate the Democrats and their willing accomplices in the mainstream media have been on a vendetta against her that makes what they did to Dan Quayle in 1988-1992 seem like reciting nursery rhymes. They have savaged her for everything from her gender and primary job of being a mother of 5 children to her clothing. They chided her about not being accessible to the press while Biden hasn't talked to them in almost 60 days. They attack her lack of experience to deflect attention from Obama's less impressive resume'. Joe Biden's gaffes, which are many, are either not reported or laughed off and played down where if Palin isn't the winner of the geography bee against the reporters her perceived lack of knowledge becomes headline news for three days.

Here is what I see about Sarah that scares them. She has struck a chord with not only the conservative base of the Republican party but also with the regular Americans that work, raise their kids, believe in God and go to church. She is a wild card that they cannot figure out so their approach is to belittle her unmercifully. The lack of respect for her position is apparent by the constant lampooning of her on comedy shows. The media wanted John McCain as the Republican candidate because they felt Obama had the best shot against him. They figured he would just pick some other old white guy for a running mate (like Obama did) and the Dems would coast to victory. Well she changed everything! Sarah made this a race again and I think it will be close on November 4th because of her. I don't believe the wishful thinking of the media polls that show a blowout for Obama, and neither does he. The purpose of these polls is to infect the Republicans with complacency and not go vote. I guess we will know in 10 days whether it works.

The Meltdown Continues

If you have interests in the American financial system, which includes practically all of us, October has been a schizophrenic ride not for the faint of heart. Probably the most telling point is when a 300 point drop or gain in the market has become ho hum. The wild swings, not only in the domestic market but in foreign markets as well, have been trending significantly down for the last several months. I will make an attempt to explain this.

The stock market is one of the purest form of capitalism we have. The price of stocks is determined by demand, or what another person will pay for it. You can do all of the fancy analysis as to value you want but a share of stock will only get that in a sale if someone with the cash to buy it thinks it is worth it. Secondly, investors buy a stock trying to predict how the perceived value of that stock is going to grow. Many factors go into that prediction but taking cash from your money market account and purchasing a stock or mutual fund requires a great deal of confidence and faith in the overall financial systems. Obviously the confidence levels out their are not high so many people, fearing loss, pulled their money out of the market and are not putting it back. Therefore when someone looking to sell their pool of buyers is significantly smaller than it would be if the billions of dollars on the sideline were out there seeking investment opportunities. So when someone on Monday tries to sell a mutual fund valued at $20 per share but the best offer is $18 it sells for $18 or less. Less because timing is crucial and computerized trades seek to sell these shares as quickly as possible. If that person looking to buy is tentative about it the computer seeks to find a buyer at whatever offer is out there. Multiply this example by millions and you see why it really takes very little to drive the market one way or another.

The biggest driver of the market today is uncertainty. The perceived differences in where the winners of the election of November 4th will take the country has the market in turmoil. Remember, the market is trying to factor in everything to predict the future and when you have such significant difference between the Democrats and the Republicans it is hard forecast the impact of the election. Also the mixed messages of the 24/7 media add to the turmoil. So until the election is settled and the country has decided which way the government is going to go expect another couple of weeks of turmoil. Regardless of who wins having the final determination will as least give us a blueprint to work from and we can go about trying to predict the future with a little more certainty. Meanwhile, where the bottom is nobody knows.

Wednesday, October 22, 2008

The Deed is Done

Thanks to the wisdom of our political heroes the voters of Texas are allowed to vote early for all elections. I went today and performed my civic duty and cast my votes for the November 4th election. I don't think I have actually voted on election day since they instituted early voting. The process in small town Texas is actually pretty efficient. As we live approximately 20 years behind the rest of the world most of the folks don't trust electronic voting. The tax office has one electronic voting machine which gathers dust most of the time. I always use it because it is faster than the paper ballots and I enjoy the weird looks I get when I am using it.

As to how I voted that is pretty obvious if you have read any of my previous posts. Pretty much for the Republicans, except if Jimmy Joe is running for JP as a Democrat I might cross over. This being a county where hardly anyone runs as a Republican those that do tend to be a little hinky. I do have a county commissioner friend that is a Republican running for re-election. I voted for Tom but am afraid that his party affiliation may be his undoing. Nonetheless, I am done and the knuckleheads can call all they want and it doesn't do them any good!

The more important point is how everyone else votes. If you believe the polls Obama should win easily. I don't believe them! I think it will be somewhat of a replay of the 2000 election, spiced up by some rioting and looting if Obama does not win. Hell, we might have rioting and looting if he DOES win! The press is building the Dems up for a victory and they will be so disappointed if they do not win. We might even have a replay of the Supremes.

I have three children, two will probably vote for Obama, the other will not vote. So my wife and I will cancel their votes out. Such is life!

Sunday, October 19, 2008

Intellectual Snobbery

This election is loaded with irony, none more striking than the Democrats condescension toward the very people they allegedly champion : the hard working middle class of America. It started in San Francisco with Obama's referring to those "bitter people clinging to their religion and guns" to more recent smears of plumbers and others that dare to dream of their income exceeding His arbitrary definition of "rich" being over $250,000 a year. So if I understand Obama a plumber that doesn't make a lot of money should be happy with where he is and take the benefit of his class status. That is, accepting the mythological tax cut Obama is promising. And if, by his sweat, hard work, and business acumen he does get rich he should be more than happy to "spread the wealth" to those less fortunate, the loser's of life's lottery.

Well this all makes sense now! Obama and his ilk did so much to help these small business people attain their wealth that it is only logical that there be some profit-sharing arrangement for them to get their share. And of course, since these politicians were working the 14 to 16 hour days most small business people work when starting up the business it would only be right that they participate in the earnings.

In my years in business I have had the honor to watch first hand the work and dedication of small business people in pursuit of their dream. In many cases they have little more than a high school education and perform a service most of their more educated brethren would refuse to do. I admire anyone with the drive and ambition to go into business for themselves, realizing that most of them will fail in the first five years of operation. But they take the risks anyway because very few countries in the world would afford them the opportunities that America does. More often than not they succeed in spite of the government rather than with their assistance. Burdensome taxes, government paperwork and regulations, and a general public looking to take what they have in some frivilous lawsuit. Lawyers, accountants, insurance companies, and other "professionals" suck more of the profit from their businesses to deal with these bureaucratic traps. So do they really ask for the government's "help"? I think not!

Obama waxes poetic about knowing where he came from and how he understands the middle class. Hopefully he realizes that it was the American taxpayer that afforded him and his wife the opportunities for a first class education. He sure isn't acting like it!

Saturday, October 18, 2008

The Eloquence of Obama

In the past several weeks John McCain has been playing his own form of class warfare, painting Obama as a smooth talking intellectual, that looks down on the common man. The latest play is the infamous "Joe the Plumber" episode which McCain pounced on. The whole discussion about Joe took a different direction but the gist of the exchange between him and Obama illustrated a lack of understanding by Obama of the concerns of a large portion of the American population.

The more important question is whether being an great speaker and communicator is an asset or a liability? Obviously if you are a Democrat it is a great asset. The Republicans are trying to demonize it because their candidate just doesn't have it and never will. I believe that is what got Bill Clinton elected twice because that is what Democrats (and many Americans) need from their President; great speeches to inspire them to drag their lazy asses to the polls. Republicans have a whole different set of motivations and really wouldn't know what to do with a Huckabee as their nominee. So, if you believe the polls, it seems to be working for the Dems this year.

One other question that this raises is whether eloquence equals intelligence? I have heard many great preachers that could give wonderful, inspiring sermons that really work up the crowd but in getting to know them realize that they are dumber than a rock. A command of the language is not necessarily a command of the facts. To judge a persons' intellect by their speaking ability would be a mistake.

Sunday, October 12, 2008

The Sunday Talk Shows

As you might guess my favorite Sunday talk show is Fox News Sunday. I started watching it when the late Tony Snow was the moderator and continued on with Chris Wallace. They always have two conservative and two liberal commentators on their round table and it gets pretty entertaining. When Bill Crystal and Juan Williams go at it I hear the polar opposite positions of the topic. So when those two agree on anything I expect to see the Four Horsemen of the Apocalypse coming across the horizon.

Such was the case this morning. Crystal has been in the tank for McCain since 2000 and, up until this morning was his biggest supporter. However, today his frustration was inconsolable. He spoke of the election and McCain's erratic behavior in the last two weeks as if McCain had already lost it. He seemed genuinely depressed about the prospects of the Republican Party on November 4th. Of course Williams, who has been cheer leading for Obama since he got in the race, was in total agreement with Bill. I expected him to put his arm around him and give him a big hug. Britt Hume just scowled and the horse-faced Maura Liason looked like she was on Quaaludes, both of which were expected responses.

The problem as I see it is McCain is behaving like a desperate man. His October surprise, the financial meltdown looks to be his undoing unless God forbid, we have a terrorist attack between now and the election. All of the fundamentals have been lining up for a Democrat win and the stock market dropping like a rock might be the last straw. His flailing around makes him look like a boxer on the ropes and not the guy that needs to be leading the free world.

Look, I have never liked McCain. Given the choices I will still vote for him. For all of his failings I still believe he would be better prepared for the job than Obama. The fact that these two are the best this country has to offer really depresses me.

Friday, October 10, 2008

Financial Meltdown

We are hearing the 24/7 reports on the "crash" of the market, "financial meltdown", and a thousand other euphemisms used by the talking heads and their "experts". The real question is whether this is real or a product of the presidential election? As you might guess, I have an opinion on this.

The stock market has become bi-polar of late, wildly swinging from positive to negative in moments. Yesterday the Dow dropped around 400 points in the last hour of trading. The reason given was that GM was in trouble. Really? Was this some kind of epiphany the market collectively had at 3 p.m. and everyone sold, sold, sold? I really doubt it. Really what has been happening since our political heroes decided we were in a financial crisis is the market traders are trying to guess where the bottom is. Everyone is hoping to find that perfect moment to buy, locking in on exceptional bargains and therefore profits when the market responds. The problem is that the government has decided that they have the answer so they float a new idea every 14 seconds, trying to stimulate confidence in the markets and stop the free fall. What has really happened is that the politicians efforts have just the opposite effect. They are bi-polar therefore so is the market. The more they tinker the more erratic the stock market.

Before you think I am just beating a dead dog I will defend them. They are only doing what is being demanded of them. As a result of years of government manipulation of how our money is invested (i.e. 401-k's, IRA's etc) the average working American taxpayer has a stake in how the stock market does and has watched the evaporation of said investments. So they panic and the government panics. The problem is that our leaders don't know what they are doing because, if they did they would understand that we didn't get here overnight and it won't get fixed overnight.

Yes, I believe it will get worse before it gets better. Businesses will reevaluate their leveraged positions and come out stronger financially on the other side. Those that fail to recognize the necessary changes needed (are you listening Ford & GM?) will go away. That is unless the government props them up once again. It will take a while but the market will strengthen and stabilize and these memories will fade.

Sunday, October 5, 2008

A Break From Politics

I don't know about you but it seems that each presidential election cycle wears me out worse than the previous one. Maybe it is because I am getting old or that my disappointment with the selection each time grows. Whatever the reason this is a good day to take a break.

Most of my adult life has been consumed with the "pursuit of happiness". Of course the description of said "happiness" has changed over the years so it has been a moving target. After high school it was about the path to wealth was integral to happiness. I made goals (most unrealistic) of where I would be financially at 30, 40 and beyond. I was single, relatively intelligent, and had all of the confidence in the world. There was nothing I could not achieve. As usually happens, detours along the way adjust your goals and your definitions of happiness. Finding someone I wanted to spend my life with changed everything. My narcissism took a back seat and family was front and center. Happiness was found in the adventures of my children, the life my wife and I built together and my part in these things. The next stage, which for me began about 10 years ago, was finding happiness in the service to others. Their smiles were my smiles and I find great satisfaction in serving others. Gone are the dreams of millions, big houses, and all the toys that come with an opulent lifestyle.

So in looking back I have no regrets about the path I took, the choices I made, or how things ended up. I would suggest to those who are early in their on journey to consider the following:

1. Consider the number of times you smile or laugh daily.
2. Are your pursuits bigger than yourself?
3. Do you have someone to share your life with?

The happiest times in my life are the times when I laughed and smiled frequently. Having a purpose that goes beyond the pursuit of riches is crucial. Without my wife and family my accomplishments would not have been as satisfying.

Saturday, October 4, 2008

The Bradley Effect

I have heard several recent references to the "Bradley Effect" and whether it will be in play in the presidential election this year. For those that may not know this refers to the California gubernatorial election years ago when Tom Bradley, then the may of LA, was the democrat candidate and was leading handily in the polls. It is believed that people lied to the pollsters about who they were going to vote for, fearing they would be considered racists if they said they were not voting for Bradley, a black man.

So with Obama being black the media naturally assumes that white people are lying to the pollsters because we are, of course, all racists. I actually believe it is a form of intimidation, just like the insinuation that there will be riots in the street if Obama loses. So when a pollster calls some old white man what is he going to say. This old white guy tells them to leave me the hell alone. My vote will be cast at the ballot box not through some stupid poll. And, hopefully, most Americans will have the sense to not be influenced by these polls. The least of my concerns with Obama is his race. I think he is a puppet for the Move On.org types and doesn't have the judgment to be president.

So whether there will be a Bradley Effect or not really shouldn't matter.

Friday, October 3, 2008

The VP Candidates Square Off

The much-anticipated meeting between Palin and Biden has finally occurred and I was not disappointed. In fact, it seemed to be much more lively and interactive than the one between Obama and McCain. It was entertaining but still followed the predictable script of out-right lies, half-truths and distortions on both sides. As much as these people preach about change I think that these people can barely spell it let alone do it.

This whole event was like watching NASCAR: everyone wanted to see Palin implode. We had been set up by the few interviews that she has given to the mainstream media and their commentary about it. Of course everyone, including the old guard in the Republican Party, was all over every gaffe or minor error she might make. All I have heard for the past two weeks is how stupid she is, how ill-prepared she is, and how Biden was going to mop up the floor with her. Well, she didn't implode, Biden didn't mop up the floor with her, and she was engaging and much more entertaining than anyone else in the race.

Chances are this debate will not be the knockout punch for either campaign. Unless someone really screws up neither will the remaining two. I still believe that the election will ride on whether Americans want their "grandpa" as president or their "kid brother". Despite the efforts of the media to convince us otherwise, I still believe "Gramps" will come out on top.