Memnison Journal

If you could be in George W. Bush’s body for a day, what would you do?

If you could be in George W. Bush’s body for a day, what would you do?

• Yet another coal mine disaster in China, this time at a safer mine - relatively. It’s all part of the work-faster-harder orders of a energy-hungry China; 5000 people die this way every year there, and around 70% of China’s electricity comes from coal.
• Ran across this excellent analysis of Chinese energy needs. Short version is that the Chinese don’t need anywhere as much as the US or Europe does, but they (and India) were a blip on the world oil market 20 years ago, and any boom like theirs will demand it. And they’re working hard on cleaner coal tech, and on other renewable energy sources. Wish we were. Fifteen years ago, the roads were empty, save for the constant stream of bicycles. Today they are jammed from morning to night with close to three million private cars. A thousand new cars hit the city’s streets every day. By 2020 China will have 140 million private cars, more even than the United States.
• China and the Vatican were getting better relations, but the Chinese have decided to put on pressure.
• Han immigrants to Tibet, and their reflections…
• China trying to work influence in the Americas…
• Interesting commentary on the Chinese / Russian lack of interest in sanctioning Iran, Sudan, etc…they’re not particularly interested in liberal democracies flourishing. Or having international relations involve whacking on dictators for being dictators.

• More on the woes of the FDA (Food and Drug Administration) from the LA Times; Bushian political directions and science / religion / politics clashing, not to mention simple management issues. 
• I haven’t forgotten the Brits.  There’s a serious scandal backlash there over Blair’s government; YouGov saying that 57% of the public finds it “sleazy and incompetent”.  Various Cabinet ministers and Blair are hurting badly from this general combination of messes, and Blair’s ‘why should I quit before the next election’ bit isn’t helping.  The only thing seeming to help Labor is that the Tories aren’t considered as being all that hot, either.  Hey,  - any ideas for a good new PM?  (Or if anyone has some good ideas on the present situation AND a good rounded view of What’s Going On so that my US readers can understand it, feel free to speak up.)
• Bush, sort of: “We must enhance non-compliance protocols sanctioned not only at E-I-E-I-O sessions, but through intersexual conduct.”  Yeah, it’s the not-Gridiron. 
• Senate race in Virginia: Webb versus Allen.  Seriously interesting match of Bushian golden boy with Fighting Democrat who used to be Reagan’s Secretary of the Navy.

The wise and mighty has pointed out one of my major upsets with Illinois state government for 20 years; the way they handle Medical reimbursements to pharmacies and doctors - paying them but paying the bills many months or more later. See her comments on this and an Illinois EPA scandal here, and here’s the Tribune story on the reimbursements deal. Truth is that both Republicans and Democrats have been playing this obnoxious game for a long time. It’s why mom and pop pharmacies were run out of business here.

http://www.tate.org.uk/britain/exhibitions/gothicnightmares/

• Turns out that the recently appointed Food and Drug Administration commisioner (appointed by Bush and only served three months before he suddenly quit) left office because, as the deputy commissioner, he’d been doing all sorts of interesting things with shares of companies regulated by the FDA. My, my, hey, hey. A federal grand jury is a’checkin’ him out.
• And elsewhere, big papers right and left are picking up the Watergate Hookers scandal with congressmen being brough hookers by defence contractors and lobbyists. As I said the other day, get sex in governmental scandals, and everyone can understand that better than financial / influence shell games. And it turns out the limo service for all of this was also being used by Homeland Security, but nobody ever thought to do background checks on the limo company or the owner, who has a criminal record of some size.

I was writing up a scathing item about oil traders for my comments about the price of gas and oil, but the NYT beat me to it. The relevant highlights are under the cut, with the link to the full story.

Short version is that big, wealthy investment organizations are putting a kajillion dollars into speculatation on oil prices. That means all of your hedge funds, the Bush family’s Carlyle Group holdings, private big-investor banks and the like. Such contracts are holding on to monstrously huge amounts of oil - over a BILLION barrels for one exchange. Traders for this are making from $1 million to $10 million a year. Oil price hikes are on a bubble - up 28% in ‘04, 45% in ‘05, and 18% in the first quarter of ‘06. Well, hells’ bells, guys, git on the partay!

The price of oil is feeding on itself. The investors are the ones who are no longer in dot-coms, or housing, and looking for the Next Big Thing to make a big killing on. This isn’t to say that supply and demand don’t have a hand in it; they do. But this is adding up to 25% of the price, and they whip each other into a frenzy on it. If they’re making a killing today, hey, tomorrow…

Difference between Democrats and Republicans:

• After their gas station photo op, Democrat legislators climbed into their SUVs and drove 1 block back to the Capitol (Clueless).
• After his gas station photo op, Hastert gets into a hydrogen- powered car, goes one block, and switches into a SUV (Calculated hypocrisy).

AP: President Bush said Friday that taxing enormous oil industry profits is not the way to calm Americans’ anxieties about pain at the gas pump, and that his “inclination and instincts” are that major oil companies are not intentionally overcharging drivers.

Bush’s remarks suggested the former Texas oilman is unlikely to take harsh action against oil companies despite public anger about the rising cost of fuel. Gasoline is averaging $2.92 a gallon across the country, up 69 cents from a year ago, according to AAA’s daily fuel gauge report.

“The temptation in Washington is to tax everything,” he added.

Three days ago, the president announced a series of steps, including calling on his administration to investigate possible price gouging. But he admitted Friday that he thinks it’s probably not happening.

“I have no evidence that there’s any rip-off taking place,” Bush said. “It’s the role of the Federal Trade Commission to assure me that my inclination and instincts is right.”

Yes, Boss. You bet.

The foreclosures are going up 73%, not 63%.

Lenders began foreclosing on 323,102 mortgages, a ratio of one in 358 U.S. households, according to a report issued Monday by RealtyTrac Inc. Banks typically start foreclosing on mortgages after payments are 90 days late.

“When you couple the higher bills that people with adjustable loans saw with the higher-than-expected energy costs, you see a lot of homeowners stretched beyond the point where they could make their payments,” said Rick Sharga, a RealtyTrac vice president. Homeowners who would otherwise sell their houses to pay off their loans face a weaker market, he said.

$4 Billion here, $8 billion there - hey, a guy’s gotta eat.

Words utterly fail me. This is a radio spot for a GOP candidate for Congress in North Carolina (mp3) discussing how his opponent wants to…

The candidate in question. His ads. His opponent, the one in charge of the homosexual mariachi band. (I never knew North Carolina went in for that.)

Look out, Mama,
there’s a white boat
comin’ up the river
With a big red beacon,
and a flag,
and a man on the rail
I think you’d better call John,
‘Cause it don’t
look like they’re here
to deliver the mail
And it’s less than a mile away
I hope they didn’t come to stay
It’s got numbers on the side
and a gun
And it’s makin’ big waves.
-”Powderfinger” by Neil Young.

Interesting comments from a person talking about how to help cut back on your car’s gas consumption, and on Exxon Mobil’s huge quarterly profits. Read the comments to that one!

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