tag:blogger.com,1999:blog-107752232024-03-23T13:10:59.257-05:00Phlip's RantsDaily rants about Politics, Music, and whatever else I want to rant about.
E-mail: PhlipsRants@Gmail.comPhliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.comBlogger1896125tag:blogger.com,1999:blog-10775223.post-49742642810551583292007-10-05T11:29:00.000-05:002007-10-05T11:37:15.488-05:00Stylegate<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAsjWRHYDfSpgTw7LbQO5VwEg0qAzA85chRt30UV7c7Gu5X3Fe6prZdDh9Tu1I5iMP5hof0VY5EnFRD2GEiogsS4ghLs7DKWOqJP-9ju6xw5Y-5q7YJGj5f62yvSHcS62Hx07D/s1600-h/SteveReportsForDuty-748345.jpg"><img id="BLOGGER_PHOTO_ID_5117892400034529042" style="DISPLAY: block; MARGIN: 0px auto 10px; CURSOR: hand; TEXT-ALIGN: center" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAsjWRHYDfSpgTw7LbQO5VwEg0qAzA85chRt30UV7c7Gu5X3Fe6prZdDh9Tu1I5iMP5hof0VY5EnFRD2GEiogsS4ghLs7DKWOqJP-9ju6xw5Y-5q7YJGj5f62yvSHcS62Hx07D/s400/SteveReportsForDuty-748345.jpg" border="0" /></a><br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj2JK5xk6pKBdvWeqmwoBbyI_zl1byrfSE9wYbUVZcIfT89NRpYkmlOMOC3JlvZpfch1lDj-crSUC64PkRY_mEEZe0ul1EBErEO77VZ2gcJAMSOLDrrEKpRWDLRHThj2I9tAzPY/s1600-h/Schmidtdress3-783165.jpg"></a></div><br /><div></div><br /><div></div><div>If Obama not wearing a flag pin is that damn important, perhaps we should just go ahead and coronate this idiot king.<br /><br /><div></div></div>Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com1tag:blogger.com,1999:blog-10775223.post-15403835728307627992007-09-10T10:33:00.000-05:002007-09-10T11:40:47.564-05:00Thanks CityWhile I applauds the city's decision to replace handicapped ramps using third shift labor, I think it would be helpful if in addition to the jack-hammering, they set off a concussion grenade every twenty minutes or so, and it might help if they rented some klieg lights to shine in peoples windows as well.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-87038098913729904292007-08-31T09:45:00.000-05:002007-08-31T08:46:50.497-05:00Progress, Bitches, ProgressOh Bush administration, is there anything in Iraq that you can't fuck up. From <a href="http://www.nytimes.com/2007/08/31/washington/31policy.html?ei=5090&en=141219721d615f1b&ex=1346212800&partner=rssuserland&emc=rss&pagewanted=all">The New York Times</a>:<br /><br /><blockquote>An independent commission established by Congress to assess Iraq’s security forces will recommend remaking the 26,000-member national police force to purge it of corrupt officers and Shiite militants suspected of complicity in sectarian killings, administration and military officials said Thursday.<br /><br />The commission, headed by Gen. James L. Jones, the former top United States commander in Europe, concludes that the rampant sectarianism that has existed since the formation of the police force requires that its current units “be scrapped” and reshaped into a smaller, more elite organization, according to one senior official familiar with the findings. The recommendation is that “we should start over,” the official said.<br /><br />The report, which will be presented to Congress next week, is among a number of new Iraq assessments — including a national intelligence estimate and a Government Accountability Office report — that await lawmakers when they return from summer recess. But the Jones commission’s assessment is likely to receive particular attention as the work of a highly regarded team that was alone in focusing directly on the worthiness of Iraq’s army and police force.</blockquote><br />As I wrote in March of last year this was pretty much inevitable because we have seen this sort of thing in the past, even in the US. From me:<br /><br /><blockquote>In the Spring of 1980, Fidel Castro declared the port of Mariel an open port. That Summer, 125,000 Cubans made the trip from Mariel to Miami in what came to be known as the Mariel Boatlift. The influx of refugees into an already depressed economy ultimately led to a major crime wave, so the city of Miami did what any city would do in that situation, they rapidly beefed up their police force immensely.<br /><br />The problem was that everyone from major drug cartels to street gangs sent their loyalists with clean records to the police academy, which resulted in a very corrupt police force. Eventually, 10% of the force ended up jailed, fired, or disciplined; and that's just the ones they had hard evidence against.<br /><br />Fast forward to Iraq. We have just done the same thing that Miami did in the early eighties. We have built up roughly 240,000 security forces in just a couple years. If we are as lucky as Miami, that means about 30,000 corrupt forces, and I doubt we're that lucky.</blockquote><br />If the absolutely clueless Rumsfeld would have let Shinseki prosecute this war we'd be home by now. In fact, my greatest opposition to the war at that time was simply that we can't let these fuck-ups do this because they are wholly incompetent and refuse to listen to people who aren't. There is really nothing we can do now to fix it because it was always a one shot deal.<br /><br />Now these idiots want to attack Iran. The roll-out starts after Labor Day. As our feckless leader says, "Fool me once, shame on — shame on you. Fool me — you can't get fooled again."<br /><br />Found via <a href="http://www.washingtonmonthly.com/archives/individual/2007_08/011973.php">Kevin Drum</a>Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-69764264003944024312007-08-29T13:46:00.000-05:002007-08-29T13:52:50.504-05:00Don't Get Your Hopes UpMuqtada al-Sadr has announced that he is <a href="http://www.cnn.com/2007/WORLD/meast/08/29/iraq.main/index.html">suspending the Mehdi Army</a> until further notice or six months whichever comes first. Dog fighting perhaps?<br /><br />Anyway, don't look for this to make a great deal of difference. As the past has shown, the Mookie can have great effect when he wants to ratchet up the violence, but has had little effect when he wants to abate it. The Mehdi Army is too decentralized with too many different agendas for him to fully control.<br /><br />Still, it's better than him calling for attacks.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-17728070313955734912007-08-29T12:15:00.000-05:002007-08-29T12:36:56.021-05:00SadHilly Kristal, the founder of CBGB's <a href="http://www.nytimes.com/2007/08/29/arts/music/29cnd-kristal.html?_r=1&hp&oref=slogin">has died</a> at the age of 75. I never got the chance to visit the club, which is one of the few disappointing things on my list of things I never got to do, or will ever get to do. Hell, there is only one original Ramone still living. Getting old blows.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-92143181512442611052007-08-29T11:51:00.000-05:002007-08-29T11:59:19.130-05:00Two DaysI was wondering how long it would take for this to happen. From <a href="http://talkingpointsmemo.com/archives/051811.php">TPM</a>:<br /><br /><blockquote>One larger issue must be addressed. The Republican Party platform clearly rejects the agenda of homosexual activists. The Party, in the wake of the Mark Foley incident in particular, can no longer straddle the fence on the issue of homosexual behavior. Even setting Senator Craig’s situation aside, the Party should regard participation in the self-destructive homosexual lifestyle as incompatible with public service on behalf of the GOP.<br /><br />No member of the Republican Party in the 1860s could represent his party and be a slaveholder at the same time. Nor can the Republican Party of today speak with authority and clarity to the moral issues that confront our society and at the same time send ambivalent messages about sexual behavior. It is time for the Republican Party to be the party that defends the American family in word, deed, and by personal example.</blockquote><br />Hopefully there will come a day when the republican party can achieve such a level of purity that they can't get elected as dog catcher.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-69445346160655995222007-08-27T07:30:00.000-05:002007-08-27T07:33:06.452-05:00Gonzo GoingAlberto Gonzales is resigning, no doubt to spend more time lying to his family. The rumor mill has Michael Chertoff to replace him. At least Chertoff has experience cleaning up after buffoons.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-20943581780396085102007-08-10T12:49:00.000-05:002007-08-10T13:12:54.486-05:00Obama Receives Crucial EndorsementI know we are awfully early in the presidential nomination process, but still, if you are undecided at this point, it is probably because you are waiting due to a lingering question in your mind. Who is Master P going to support for president?<br /><br />Well, wait no more, because I received an e-mail today informing me that P has came out and fully endorsed Barack Obama for president. This is a extremely important endorsement. With it secured, Obama can surely expect a cavalcade of other B-list, C-list, and even D-list celebrities to follow suit, and that my friend would lead to a rash of bundled $14.00 checks from residuals.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-15840093102351959372007-08-10T12:10:00.000-05:002007-08-10T12:29:56.266-05:00Restoring My Faith In HumanityAh, virtually nothing can renew your faith in humanity like an early morning trip to a carry-out. This fine morning I stopped at one in one of the small towns I travel though on my way to work.<br /><br />Inside, a mother was having a confusing conversation about which off brand cigarettes were the cheapest. The smokes were of course for her daughter who looked to be sixteenish. You know what they say, the family that smokes together.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-34545172390013094352007-08-09T11:48:00.000-05:002007-08-09T12:05:05.046-05:00ObamaramaI had glanced at <a href="http://campaignsandelections.com/IA/articles/?ID=479">this University of Iowa poll</a> earlier but missed this nugget. In a poll of registared republicans in Iowa, when asked who they would support in next fall's general election, Barack Obama finished third (6.7%) behind likely Caucus attendee favorite Mitt Romney (21.8%) and Rudy Giuliani (10%), ahead of Fred Thompson (5.2%), and John McCain (1.8%).Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-15828015201966109962007-08-08T14:24:00.000-05:002007-08-08T14:29:47.599-05:00Bush On The Minnesota Bridge CollapsePresident Bush had this to say after examining the I35W collapsed bridge a <a href="http://abclocal.go.com/wpvi/story?section=nation_world&id=5540309">couple of days ago</a>:<br /><br /><blockquote>"I do promise she's [Transportation Secretary Mary Peters] going to listen to the local authorities to find out what the folks here need," Bush said. "<strong>I do promise that when she sees roadblocks and hurdles in the way of getting the job done, she'll do everything she can to eliminate them.</strong>"</blockquote><br />Shortly thereafter, Peters was seen whispering into Bush's ear. Bush then immediately announced that he was laying off 6,500 border guards.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-55675996863206149752007-08-08T12:26:00.000-05:002007-08-08T12:58:05.840-05:00Sacrifice Bitches!Mitt Romney was asked today why none of his sons are serving in the military. His <a href="http://electioncentral.tpmcafe.com/blog/electioncentral/2007/aug/08/quote_of_the_day_ii">response</a>:<br /><br /><blockquote>"One of the ways my sons are showing support for our nation is helping me get elected because they think I'd be a great president."</blockquote><br />I'll be the first to admit, the question is stupid and a little bit unfair. Mitt Romney is running for president, not his kids so I don't care if they're crack-heads, or Prius driving dopers, or look like they belong in a gay men's choir.<br /><br />Nonetheless, you would think the Romney campaign would have seen this question coming at some point and would have a carefully scripted answer prepared. Preferably one that doesn't make Romney look like a total jackass. Makes you wonder, doesn't it? Are these guys ready for prime time?Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-3338936297722828112007-08-08T12:19:00.000-05:002007-08-08T13:02:54.963-05:00MeltdownSimply for the fact that I think the guy is a total tool, I bring you this Jim <span class="blsp-spelling-error" id="SPELLING_ERROR_0"><span class="blsp-spelling-error" id="SPELLING_ERROR_0">Cramer</span></span> meltdown from last Friday <span class="blsp-spelling-corrected" id="SPELLING_ERROR_1">while</span> I was away.<br /><br /><embed src="http://www.youtube.com/v/cYPtCmdFCrc" width="425" height="350" type="application/x-shockwave-flash" wmode="transparent"></embed><br /><br />Of Fed, won't you bail us out of our self made <span class="blsp-spelling-corrected" id="SPELLING_ERROR_2">catastrophe</span>?<br /><br />I especially like the way he lectures Bear <span class="blsp-spelling-error" id="SPELLING_ERROR_1">Stearns</span> for panicking right before he goes into full blown panic mode himself.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-85451855208122192972007-08-08T10:03:00.000-05:002007-08-08T10:33:58.110-05:00Bonds Hits 756Well, Barry Bonds now has the Major League Baseball home run record. Like him or not, and I tend to fall into the not category, you have to admit that steroids or not, Bonds is probably has to be considered the greatest hitter in the history of the game now.<br /><br />I've heard a lot of people complaining today about the body armor Bonds wears when he bats, and while I agree that fifteen years is far too long for the medical exemption that allowed him too where it, if you're the pitcher facing him you have to find a way to back him off the plate regardless of his elbow armor. Either throw at his head, or stop bitching.<br /><br />As an interesting side note to the event, the pitcher who gave up the record breaking home run was Mike Bacsik Jr. His father, <a href="http://www.foxreno.com/mlb/13845399/detail.html">Mike Bacsik Sr. faced Hank Aaron in 1976</a> as a member of the Texas Rangers when Aaron's home run total was 755. Mike Sr. got Aaron to fly out to right field before yielding a single in Aaron's next at bat. Aaron never homered again.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-75606650240857659892007-08-08T09:30:00.000-05:002007-08-08T09:52:31.468-05:00RelaxingI spent last weekend up at JK & P's cabin at the lake in Michigan. It was quite fun and I discovered something that has been missing from my life for the past couple of years, the darkness that only comes with being away from the city.<br /><br />For the past five years I have lived in a sort of perpetual Arctic summer solstice where even after the sun does go down artificial light continues to pour into my apartment from dusk to dawn, and most of my vacations tend to send me to other large American cities where the same thing occurs. The opportunity to wander around in actual darkness was very reinvigorating, and getting to see things like the Milky way again were great. I have got to get out of the city more often.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-29744016233058725902007-07-31T08:28:00.000-05:002007-07-31T08:42:35.539-05:00Ted, Just Admit ItIt looks like Alaska Senator Ted Stevens is about to head down that road to nowhere, except that nowhere is the federal pen.<br /><br />As you probably already know the <a href="http://www.tpmmuckraker.com/archives/003813.php">FBI raided his home yesterday</a>. What you might not know is that they also brought along some friends from the IRS, and when they pal along for the ride, let's just say you are about to get fucked in a very uncomfortable place, and I don't mean the back of a Volkswagen.<br /><br />While it's true that Stevens is innocent until proven guilty, these guys don't make their move until they have you dead to rights.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com3tag:blogger.com,1999:blog-10775223.post-25677553676389354022007-07-30T08:49:00.000-05:002007-07-30T09:40:13.560-05:00Wait, You Mean We Have A Chance To Fuck It Up Even More?Yes, we can. And yes, it looks like we're going to. In order to appease the Turks (I didn't think we did that appeasement thing) the US military is going to start fighting with the only remotely pro-American people in Iraq, the Kurds. From <a href="http://www.juancole.com/2007/07/third-of-iraqi-children-malnourished.html">Juan Cole</a>:<br /><br /><blockquote>Liz Sly of the Trib reports on the tense Iraqi-Turkish border, made perilous by the safe harbor offered the Kurdish Workers Party (PKK) guerrillas by the leaders of Iraqi Kurdistan. At the last checkpoint under Iraqi control, she is told, "There could be bombing, and there are terrorists everywhere."<br /><br />This delicate problem, which could blow up the northern reaches of the Middle East, requires delicate diplomacy, right? Nope. Bush thinks all problems can be resolved with violence. Dark Prince Bob Novak says that Undersecretary of Defense Eric Edelman has briefed Congress on a covert US operation to help Turkey suppress the PKK. The quid pro quo would be that Turkey would not invade northern Iraq.<br /><br />The problem? The Kurds are the only firm ally the US had in Iraq, and US special ops troops getting directly involved against the PKK might well alienate the Kurds in general. You can hear W.'s fingernails squeak as they dig into the face of the high cliff down which he is gradually sliding.</blockquote><br />What will be the outcome should this come to pass? Well for starters we will succeed in making a relatively peaceful populous restive, which of course will require more troops. Also, that Kurdish division that is part of "the surge" will most likely pack up and go home, which of course will require more troops.<br /><br />And as for the whole reconciliation prospects of Iraq, this very well could push the Kurds to declare their independence.<br /><br />Fucking up is par for the course for the Bush administration.<br /><br />Oh and by the way, Iraqi Prime Minister Nouri al-Maliki wants super greatest ever General Petraeus <a href="http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/07/30/wiraq230.xml">replaced</a>.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-8562980508396009632007-07-26T11:39:00.000-05:002007-07-26T11:41:31.063-05:00Red Rover, Red Rover, Send Karl's Fat Ass Over<a href="http://rawstory.com/news/2007/Senate_Judiciary_Chairman_to_subpoena_Karl_0726.html">Rove subpoenaed</a>Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-60867726121909717142007-07-26T10:52:00.000-05:002007-07-26T11:01:21.918-05:00Fred Thompson: The No Dough ShowIt's no wonder Fred Thompson hasn't yet made his campaign official, he's not raising much money. From MyDD:<br /><br /><blockquote>Sources close to the presumptive campaign tell NBC News that Fred Thompson's fundraising is down "markedly." One claimed it has "slowed down big-time." The pace is described as a consequence of the delayed announcement to enter the race.<br /><br />"The Friends of Fred, Inc." will report to the IRS its revenue by July 31st. Sources reveal to NBC News that number will be in the range of about $3 million. Five million dollars had been the talked-about June goal. Sources describe an early burst of donations in June and say the summer fundraising has fallen off. While additional fundraisers are planned, sources say the scheduling of fundraisers was "frozen" for a time while the team was going through some internal strains.</blockquote><br />That's pretty pathetic. In fact, given that some top level staffers have recently left the campaign, I'd guess they are running on fumes alone. Republican savior indeed.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-26814096810872852722007-07-26T09:09:00.000-05:002007-07-26T10:12:23.842-05:00PopIt sure looks like the slow fizz of the housing bubble bursting is turning into a full blown explosion rather quickly. Countrywide, the nation's largest mortgage underwriter is now reporting that a <a href="http://www.washingtonmonthly.com/archives/individual/2007_07/011738.php">whopping 4.56% of their prime mortgages are at least thirty days late</a>, and their sub-prime mortgages are a whopping 23.71% behind.<br /><br />During a conference call with Countywide earlier this week the following statement was issued: <a href="http://bigpicture.typepad.com/comments/2007/07/countrywide-hom.html">"Company is seeing home price depreciation at levels not seen since the Great Depression."</a><br /><br />I believe it is only going to get worse throughout 2008 with the unbelievable amount of ARM resets due in that time period.<br /><br />Update: More bad news from WAPO:<br /><br /><blockquote>The Commerce Department reported that sales of new single-family homes dropped by 6.6 percent last month to a seasonally adjusted annual rate of 834,000 units. The decline was more than triple what had been expected and was the largest percentage drop since sales fell by 12.7 percent in January. Sales are now 22.3 percent below the level of a year ago.<br /><br />The median price of a new home sold last month dropped to $237,900, down by 2.2 percent from a year ago. It was the biggest year-over-year price drop since a 6.5 percent fall in April. The median price is the point where half the homes sold for more and half for less.<br /><br />The big drop in new home sales followed a report Wednesday showing that existing home sales dropped by 3.8 percent in June to a five-year low. The weakness reflects spreading troubles in the mortgage market as more borrowers are defaulting on their loans, dumping those homes back on an already glutted market. In addition, banks and other lenders are tightening their standards, making it harder for prospective buyers to qualify for loans.</blockquote><br /><br />Ouch.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com1tag:blogger.com,1999:blog-10775223.post-4688278741314494952007-07-26T08:48:00.000-05:002007-07-26T09:09:09.725-05:00Oh Alberto!It is pretty clear now that Alberto Gonzales has perjured himself before Congress, which of course is a crime. He likely has committed many other violations as well during his term as Attorney General. So, what do we do?<br /><br />I think it is obvious that the votes for impeachment are there. There are twenty-two republican Senators up for reelection next year and most of them would be a fool to vote against the impeachment of someone as incompetent, and plainly guilty as Gonzales. Do we give them that opportunity to show off their independent side to their constituents? There are other options such as appointing a special prosecutor to look into the very narrow aspect of his lying to Congress, thus a speedy trial could occur even though President Bush would surely pardon him.<br /><br />Whichever way the Democrats decide to go, it is hard to imagine someone competent tarnishing their name by filling the spot for the final eighteen months of this failed administration, so things might not get any better. In fact, I have to wonder how much prodding it will take to get Bush to send a name up to the Senate for confirmation.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-4486392865368928782007-07-20T09:19:00.000-05:002007-07-20T09:45:25.258-05:00I Wouldn't Go ThereRecently Mitt Romney has been attacking Barack Obama for a bill Obama voted for while in the Illinois Senate. Romney says the bill allowed for teaching kindergartners sex education. In reality, it allowed the kids to be taught about inappropriate touching to help protect them from pedophiles.<br /><br />I'm not sure I would want to go there if I were Romney, who as a legal adult, met his current wife while she was only 15, and comes from a religious background with a reputation for marrying off girls at a very young age. It might help you score points against an opponent, but you talking about it also reminds people that you're, well, creepy.<br /><br />Found via <a href="http://www.americablog.com/2007/07/romney-upset-that-obama-doesnt-want.html">Americablog</a><br /><br />In the interest of full disclosure, I have donated money to the Obama campaign.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-29169540755897612642007-07-19T10:34:00.000-05:002007-07-19T10:40:38.667-05:00FinishedSorry for the extended hiatus, but I had a project dumped on me that has taken pretty much all of my spare time. I finished that project this morning just after five. I have to admit it felt pretty weird not having anything to due after spending every morning for the past few weeks working. Much to the chagrin of my neighbors, I spent the time shredding documents.<br /><br />So, did anything happen while I was gone? Ha! I'm not going to go back and look at the things that happened because this medium is a here and now kind of thing. I should be completely back up and running tomorrow.Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0tag:blogger.com,1999:blog-10775223.post-28540794406609198322007-06-25T11:59:00.000-05:002007-06-25T12:08:46.418-05:00Oh No!As I briefly check in from my hiatus which should end this coming weekend, I have received the worst possible news. It seems Takeru Kobayashi has developed jaw arthritis and may not be able to compete in the July 4th Nathan's Famous Hot Dog Eating contest. From the <a href="http://www.news.com.au/dailytelegraph/story/0,22049,21963756-5012895,00.html">Daily Telegraph</a>:<br /><br /><blockquote>Takeru 'Tsunami' said he can only open his mouth to make a gap the size of a fingertip after being diagnosed with jaw arthritis.<br /><br />In an entry on his blog entitled Occupational Hazard, Kobayashi said: "My jaw refused to fight any more."<br /><br />The injury occurred only a week after the slender 29-year-old started training to win his sixth<br />straight title at the annual July 4 Nathan's Famous Hot Dog Eating contest on New York's Coney Island.<br /><br />"I feel ashamed that I couldn't notice the alarm bells set off by my own body," he said. "But with the goal to win another title with a new record, I couldn't stop my training so close to the competition.<br /><br />"I was continuing my training and bearing with the pain but finally I destroyed my jaw."</blockquote><br />Gee, hard to believe scarfing down all those hot dogs has negative ramifications, isn't it?Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com3tag:blogger.com,1999:blog-10775223.post-49072142941761591052007-06-15T10:17:00.000-05:002007-06-15T11:03:17.071-05:00And It's Not Going To Get Better Any Time SoonA story in today's Washington Post tells the tale of the American housing market. Foreclosures are sky high. From the <a href="http://www.washingtonpost.com/wp-dyn/content/article/2007/06/14/AR2007061400513.html?referrer=email">Washington Post</a>:<br /><br /><blockquote>The percentage of U.S. mortgages entering foreclosure in the first three months of the year was the highest in more than 50 years, according to the Mortgage Bankers Association.<br /><br />As the association released its numbers, the Federal Reserve held a hearing to determine whether regulators could do anything to crack down on abusive lending practices, which have exacerbated the problem<br /><br />The problems arose last year as the housing market softened, driving down home prices and making it more difficult for cash-strapped borrowers to sell their homes or refinance their way out of trouble.<br /><br />The most dramatic fallout took place in the sub-prime market, which caters to people with blemished credit or other factors that make them a risk to lenders.<br /><br />Those borrowers entered foreclosure at a rate of 2.43 percent, up from 2 percent the previous quarter. The percentages seem small, but they are far above norms, particularly in a healthy economy. The concern is that the mortgage industry's troubles could damage the economy if they are not contained.</blockquote><br />This is a problem that isn't going away anytime soon. The following graph (shamelessly nicked from <a href="http://www.attheselevels.com/">At These Levels</a>) shows the volume of upcoming ARM mortgage resets. In the next 24 months close to a trillion dollars worth of these mortgages (4 - 5 million homes) are going to reset with at least 60% of those resets coming in the sub-prime market. A fair amount of these sub-prime mortgages have large penalties for prepayment, that and along with slumping home prices makes it very hard to refinance your way out of your loan. You're just stuck on the rocky road to foreclosure.<br /><br />When that happens the economy is going to go south pretty quickly.<br /><br /><br /><img id="BLOGGER_PHOTO_ID_5076310803995504754" style="DISPLAY: block; MARGIN: 0px auto 10px; CURSOR: hand; TEXT-ALIGN: center" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEir4oxOuqPDW-9FmTvCRNWwM1w7XUAwl8zzBNCKkTZ6SHaKOZXxvnOJTtw4eAiH56R9p2oDk3sVJy-nw2m6N-BxSktHMLHiGSB5mbSq3jJCFZfjrBgzcp0j8uIYfrDmn4bWnPTS/s400/arm_reset_schedule.png" border="0" />Phliphttp://www.blogger.com/profile/07106440486833954249noreply@blogger.com0