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NOVEMBER 2,  2011

SHORT TAKES ON THE DRIFTING WRECKAGE – AT 10:58 P.M. ET:

THE CAIN SAGA CONTINUES – More accusations were made against Herman Cain today, one by a former pollster for the National Restaurant Association, who says he witnessed inappropriate behavior by Cain toward women.  Cain has thus far not been able to get out from under the furor, in part because his replies to questions about the charges are often vague and contradictory.  Each of the new people making charges must be vetted.  Some appear to have possible political motivations.  Can Cain survive this onslaught?  Yes, he can survive, but, with new charges out there, the issue is how damaged his brand will be.

MORE WARMING BABBLE – A new exposé reported by Fox News charges that many reports written for the UN on climate change are actually written by graduate students with little experience in the field.  Despite recent attempts to show "hard" scientific proof of global warming, the entire climate change enterprise is coming under increasing scrutiny.  One physicist prominent in the field admitted that scientists often ally themselves with politicians who exaggerate the global warming issue because the scientists want a better world.  The issue, of course, is not whether there is climate change.  There always is.  The issue is the degree to which mankind causes the change, and what, if anything, can be done about it, or should be done about it.

MADNESS – General social conditions in Oakland, California, are bad enough, but the "occupy" movement is making them worse.  Today, several thousand of the "occupiers" shut down the Oakland port, the nation's fifth busiest.  Organizers said they wanted to stop the flow of capital, which is very intelligent.  Not.  Thus far America's cities have been remarkably indulgent toward the "occupy" movement, and the movement still gets some support from the usual suspects.  But jobs in the area of the protests are being lost because customer traffic is disrupted, and there is growing anger in many cities that the protests are doing serious harm, while not proposing any real ideas.  Mayor Bloomberg of New York is finally threatening to shut the protests down.  If he does it, other mayors will do it.

OBAMA BOOSTED – A new Quinnipiac survey shows President Obama gaining in public approval over the last month, although it's hard to figure out why.  Gaddafi's death may be involved, as well as the belief among some that Obama, no matter how bad, is better than any of his rivals.  According to Quinnipiac, 47% of Americans approve of Obama's performance, while 49% disapprove.  Some 47% of respondents say Obama deserves to be re-elected.  So, while the president starts his campaign behind in the polls, he isn't in terrible shape.  Republican squabbling isn't helping our side, nor is the lack of a clear, coherent Republican message that the majority of Americans can embrace.

November 2, 2011     Permalink

LET US BE REMINDED – AT 9:50 A.M. ET:  One of the most effective weapons the Islamists have is pure intimidation, which is what terror attacks are all about.  Media outlets that publish material deemed "offensive" by the Islamists get special treatment, which is why very few take risks, essentially eliminating real freedom of the press.  Now the Islamists have struck again, this time in France.  From London's Telegraph:

The offices of French satirical weekly Charlie Hebdo have been destroyed by a petrol bomb, a day after it named the Prophet Mohammed as its “editor-in-chief” for this week’s issue.

The fiercely anti-clerical magazine said the move, which included renaming the publication “Sharia Hebdo”, was intended to "celebrate" the victory of Islamist party Ennhada in Tunisia's election.

Charlie Hedbo's editor-in-chief, known as Charb, told France Info radio: "We no longer have a newspaper. All our equipment has been destroyed or has melted."

No injuries have been reported

A single Molotov cocktail was thrown at the offices of Charlie Hebdo in Paris’s 20th arrondissement at around 1am. The ensuing fire was rapidly put out, but a large amount of material in the office was destroyed, police said.

“We cannot, today, put together a paper,” said Charb. “But we will do everything possible to do one next week. Whatever happens, we’ll do it. There is no question of giving in,” he said, adding that the magazine is filing a legal complaint against persons unkown.

COMMENT:  Charb has guts, which may eventually cost him his life.  There have been similar attacks, or attempts at attacks, in some other European countries. 

It's the chilling effect that we worry about.  Publishers or broadcast executives could, very understandably, stay away from controversial stories involving Islam, or provocative articles, if they knew their lives could be in danger.  And that's when real freedom dims.

Sadly, many "multiculturalists," who have an odd history of siding with totalitarians, provide ready excuses for the Islamists, trotting out the clichés of the last 40 years – that the Islamists are 1) oppressed, 2) frustrated, 3) discriminated against, 4) merely exercising their cultural choices, and 5) victims of the United States.  These multis also run campaigns against "hate speech," which too often is defined as any speech an organized group disagrees with.

November 2, 2011       Permalink

A SAD STORY – AT 8:55 A.M. ET:  I remember when SONY was the symbol of excellent in home electronics.  I recall buying SONY Trinitron TV's, and the pride of ownership we felt.  The sets were sold at full manufacturer's suggested prices, and we paid them.  SONY was the best.  The best picture.  The best quality.

Their Betamax was the first home VCR, and always outdistanced their VHS competitors in quality.  SONY invented the Walkman, the first mobile, around-the-neck portable music player.  And then came the PlayStation.

And then came Apple, under Steve Jobs.  And a vital, vigorous competitor named Samsung.

We have a fine, upscale shopping mall here in White Plains.  There is an Apple Store, and a SONY store.  The Apple Store is always jammed.  Go into SONY, and you can hear the proverbial pin drop.

The financial results are devastating.  From Bloomberg: 

Sony Corp. (6758), Japan’s largest consumer- electronics exporter, forecast its fourth consecutive annual loss and slashed television sales targets after the yen reached a postwar high and floods in Thailand cut production.

The company predicted a 90 billion-yen ($1.2 billion) annual loss, compared with its earlier forecast for a 60 billion-yen full-year profit. Sony reported an unexpected loss of 27 billion yen for the quarter ended Sept. 30, and it cut annual sales targets for TVs, personal computers, compact cameras and Blu-ray DVD players.

The projected loss comes as Chairman Howard Stringer tries to revive sales amid competition from Samsung Electronics Co. and Apple Inc. (AAPL) The company lowered its TV sales target to 20 million units from 22 million units and said Thailand’s worst floods in almost 70 years will delay the introduction of NEX and Alpha cameras, hurting annual profit by 25 billion yen.

“TV prices have continued to fall and it’s natural that Sony is losing money,” said Mitsushige Akino, who oversees about $600 million in Tokyo at Ichiyoshi Investment Management Co. “Sony is struggling to end the losses at its TV unit. That shows the company can no longer produce innovative products like it used to.”

Sony shares tumbled as much as 7.9 percent in German trading after the announcement. The stock closed 3.6 percent lower at 1,520 yen in Tokyo before Sony detailed the earnings, extending the loss this year to 48 percent. That compares with a 2.3 percent gain for Samsung and a 23 percent jump for Apple.

COMMENT:  This is classic capitalism.  Other companies simply came up with more innovative products, well made and well marketed.  At the same time, quality at SONY has slipped, its stores are drab, and the company has lost the aura it used to have.

We happened to have bought a new TV only two days ago, and chose Samsung over SONY.  Better quality, more innovative, at least in the view of the knowledgeable people we consulted. 

Some companies have glory days, but they must keep up.  Apple's iPod destroyed SONY's portable players.  The Apple Store is unique.  The SONY stores are drab.  SONY's recorders and players are just appliances, although well made.  And the flagship product – the TV receiver, is now flat screen.  Gone is the Trinitron advantage. 

Now Apple, too, must watch its back, as Samsung is selling more smart phones than is Apple.  That's the great thing about free enterprise.  It never stands still.

November 2, 2011       Permalink 

EUROPE ON THE BRINK – AT 8:35 A.M. ET:  The renewed European debt crisis, which devastated markets yesterday, continues.  There is no magic bullet here.  The immediate crisis centers on Greece.  If it collapses, it could set off a series of dominoes that will surely affect us here.  From Bloomberg:

European leaders racing to prevent their week-old debt crisis strategy from unravelling convene emergency talks today to tell Greece there is no alternative to the budget cuts imposed in the bailout plan.

Greek Prime Minister George Papandreou, his hold on power weakening, was summoned to Cannes on the eve of a Group of 20 summit where he will hear from French President Nicolas Sarkozy that the “only way to resolve Greek debt problems” is through a deal hammered out last week in a six-day crisis-management marathon.

Papandreou triggered the latest upheaval in the two-year- long crisis by abruptly announcing on Oct. 31 a parliamentary confidence vote and his desire to hold a referendum on the rescue pact. Global stocks, the euro and bonds of debt-strapped countries tumbled yesterday as concern of a disorderly Greek default mounted.

“Given the state of markets and world affairs in general, it is clear that the leaders will work hard at sending a positive message of cooperation and solidarity” from the G-20, said Erik Nielsen, global chief economist at UniCredit Bank AG in London. “But, frankly, it is difficult to be too optimistic.”

COMMENT:  We have to watch this day by day.  Clearly, the European economy is huge, and a major default could set back economic planning throughout the West, and even the second and third worlds.  Europe, historically, goes out of its way to botch things, while lecturing the United States.  It may be botch time again.

We have a right to wonder if America will be asked for some cash to help bail out failing European states.  Well, better money than blood, but we're hardly in shape to write large checks, or even deliver many bucks from the petty cash jar.

November 2, 2011       Permalink

AN ISRAELI ATTACK? – AT 8:17 A.M. ET:  There is substantial, and informed, speculation in the Mideast press, that Israel is preparing for an attack on Iran.

There is no confirmation from the Israeli government.  We do know that Secretary of Defense Panetta was recently dispatched to Israel to ask the Israelis not to act unilaterally.  But reports say that Prime Minister Netanyahu and Defense Minister Barak favor an attack on Iran's nuclear facilities, and are trying to persuade reluctant members of the Israeli cabinet.  It's been reported that there is skepticism on the part of Israel's military and intelligence establishments, who fear the aftermath of an attack, which could erupt into a general Mideast war.  However, those favoring action believe Israel faces a threat to its very existence.

The International Atomic Energy Agency is about to issue a report on Iran that is expected to be damning, accusing Iran of an active nuclear program with military goals.  That is a departure from the conclusions reached by the same agency when it was under the corrupt leadership of Mohammed elBaradei, essentially a front man for the Iranian regime.  The new director is Japanese, and a straight shooter.  Some observers speculate that Israel will use the report as justification for unilateral action.

The United States, while publicly opposing an attack, has supplied Israel with bunker-busting bombs that are ideal for an assault on hardened Iranian facilities.

Netanyahu was scheduled to come to the United States within the next few weeks to address an organization, but abruptly canceled, saying he needed to stay in Israel for commemorations marking the death of the late Prime Minister Rabin.  That is a pretty absurd excuse, given the fact that the Rabin ceremonies were scheduled months ago.  Defense writers are speculating that the Iranian issue is the real reason for Netanyahu to stay home.

We'll see.  We've had speculation like this before, with no action resulting.  It could very well be that this new chatter has been generated by the Israeli government to put pressure on Iran, and to remind the West how serious the nuclear issue has become.

Stand by for more.

November 2, 2011     Permalink

NOVEMBER 1,  2011

SHORT TAKES ON THE DRIFTING WRECKAGE – AT 10:28 P.M. ET:

BUSH AND PERRY – There have been reports of a feud between former President George W. Bush and Texas Governor Rick Perry, who succeeded Bush in the governor's chair, and the reporting seems to be supported by some financial statistics.  It turns out that fewer than one in ten of Bush's major financial backers is contributing to the Perry campaign.  Most are contributing to Romney.  In addition, Perry isn't doing as well in polls in his own home state as he should be.  Herman Cain is almost running even with him.  Of course, Perry has been elected to three terms, and is the nation's longest-serving governor.  It's possible that Texas is just suffering from some Perry fatigue.

ANOTHER ONE? – Major Democratic moneybags George Soros is snapping back at his former lover, the Brazilian soap star Adriana Ferreyr.  Ferreyr is suing Soros for $50-million, a tip for George, claiming he showed her the door after five years and didn't buy her a promised apartment.  Soros is accusing Ferreyr of being a money grubber and an extortionist.  I think Soros should just give her the money, in the public interest.  He would then have $50-million less to contribute to PBS or any of the other organizations he likes to finance.  Also, it's unseemly for a leftist to say nasty things about a woman who's a member of an oppressed group, soap actresses.  They suffer in afternoon anonymity.  It's bad, very bad, a crime against humanity.

GREAT CONTRIBUTION TO THE WORKING CLASS – The "occupy" movement has made a major contribution to the economy.  Because of its behavior in lower Manhattan, a local cafe has had to lay off 25% of its workers.  Business has dropped considerably because patrons just don't want to run the gauntlet, many having been subjected to taunts and the various aromas surrounding the "occupy" crowd.  You know, if these people actually had a program, and knew how to conduct themselves, they might actually get something done.  But "occupy" is turning into a joke, another nostalgic throwback to the 1960s.  I was at those demonstrations too, and there isn't much difference between then and now.  Even the jeans look the same.  Now jobs are being lost. 

DECISION SHIFT – The Obama administration is about to make a major decision on whether to approve the controversial Keystone XL pipeline that would bring oil from Canada to our Gulf Coast refineries.  The decision was expected to be made by the State Department, but President Obama now hints that he personally will make it.  It is critical that the pipeline be built.  It will make us less dependent on the Mideast, and will add thousands of jobs.  Modern technology can allow us to do this safely.  Obama can appeal to his pre-industrial-age base by deciding against the line, and he'll make the Mideast oil nations happy.  Or, he can appeal to the majority of Americans, even at the risk of some Saudi grumbling, or whatever they do over there.  I'm not betting either way.

November 1, 2011       Permalink

CAIN UNDER ASSAULT – AT 10:04 P.M. ET:  The assault on Herman Cain continues, and is escalating.  Today we got a statement from the lawyer of one of Cain's accusers, asking that Cain release her from her confidentiality agreement so she can tell what, she claims, happened between Cain and her.

Actually, Cain can't do that himself.  Her agreement was, apparently, between the woman and the National Restaurant Association, which Cain headed as CEO.  So Cain would have to request the NRA to release the woman.

Cain was asked whether he'd do this on a Fox News show.  He ducked the question, saying only that he'd study the matter. 

It is perfectly obvious that information is being systematically, and expertly, leaked to the press.  It's reported that some newspeople have staked out one of the women who charged Cain.  Now, how did they get her name?  This is the woman who wants to come forward and speak to the press.  Why aren't we permitted to know her name.  Oh, she's described as an Ivy League graduate who works for the government.

Hmm.

Works for the government.

The first thing I want to know is whether she's civil service, or a political appointee.  If a political appointee, I want to know who appointed her. (Why do I think we're getting to the heart of this campaign against Cain?)  Is this a legitimate charge, or is this someone trying to be another Anita Hill?

I do not know the facts.  I make no judgments on the merits of the case against Cain.  But there is a sleazy feel to this whole business. 

Stand by.  More is going to happen. 

November 1, 2011     Permalink

YOU KNOW WHAT TALKS – AT 10:34 A.M. ET:  The big question surrounding Herman Cain today is whether the report that he was charged with sexual harassment by two women in the 1990s would damage his campaign.  We do not yet have any polling on this, but one indicator is positive for Cain.  From The Hill: 

Herman Cain's presidential campaign raised one quarter of a million dollars on Monday, just as sexual harassment allegations were flying around Cain and his campaign was put in its most defensive position to date.

"It was one of our best fundraising days ever," campaign manager Mark Block said Tuesday, adding that Cain's economic message and outsider status were clearly resonating across the United States.

Cain said Monday he had never sexually harassed anyone in his life, dismissing a report in Politico claiming that two women who worked for Cain while he headed the National Restaurant Association had received financial settlements in connection with harassment complaints against Cain.

“Done. Move on,” Block said Tuesday at an elections forum hosted by National Journal. “Let's talk about what the American people want to hear about, and that's jobs, jobs jobs.”

Cain also dodged new allegations that have emerged about potentially illegal donations to the campaign from a charity that Block founded. The Milwaukee Journal Sentinel reported that the campaign owes Prosperity USA about $40,000 for footing the bill for expenses, in possible breach of federal law.

Block said the campaign would respond to the allegations accordingly, repeatedly declining to comment further.

COMMENT:  It is clearly open season on Herman Cain, a status he earned by leaping to the top in the polls.  The fundraising is impressive, probably reflecting anger by his supporters at the sex claims, which are vague.

We await the next polls.  And let's see if anything else comes out about Cain.  As a conservative African-American, he has many built-in enemies who see him as a challenge to their "narrative."  Many media types will help out in trying to discredit Cain.

Voting in Iowa begins in two months.

November 1, 2011       Permalink

OUT OF THE FRYING PAN – AT 9:20 A.M. ET:  There was much hoopla last week over a deal that was advertised as saving Europe from financial disaster, which would have had a major impact on the United States.  Now, though, that deal is in jeopardy, as Greece once again flirts with default.  Markets are already reacting:

Athens, Greece (CNN) -- European stock markets dropped dramatically Tuesday and the leaders of France and Germany scheduled an emergency conversation after Greek Prime Minister George Papandreou called a shock national referendum on international aid for his country.

A Greek rejection of the bail-out deal, which took months to hammer out, could lead the country to crash out of the euro and default on debts in an uncontrolled way, sending shock waves through the global financial system.
And the announcement of the referendum rattled Papandreou's hold on power Tuesday, as a lawmaker defected from his party, leaving him with a majority of only two in Parliament.

Milena Apostolaki announced her resignation from the PASOK party, saying the call for a referendum was "a deeply divisive procedure."

The European debt crisis claimed its first American victim shortly before Papandreou announced the referendum on Monday, as MF Global filed for bankruptcy protection, leaving top Wall Street creditors holding more than $2 billion in debt.

The commodities and derivatives broker was run by ex-Sen. Jon Corzine, a former head of Goldman Sachs.

COMMENT:  We are not financial gurus here, but you don't have to be Warren Buffett to realize how precarious our financial situation has become.  We are partially dependent on the health of Europe.  Right now the DOW is down 2.26%, clearly reacting to the possible unraveling of the European deal. 

The economy will determine the results of our next election, unless the GOP botches it all.  It's November 1st, and that election is barely a year away. 

One of the great issues in Europe is the refusal of the populace in many countries to understand that their governments can't keep handing out entitlements with no money in the bank.  Kids understand that.  Adults have a hard time, especially when they're told they're living in a socialist paradise.

November 1, 2011       Permalink

SNIPPET OF THE DAY – AT 8:45 A.M. ET: 

From the Netherlands:  Tilburg and Groningen universities are to take legal action against one of their professors after an investigation showed he had faked research data in at least 30 scientific papers.  The fraud is ‘considerable and shocking’, the committee set up to look into Diederik Stapel’s academic publications said in an initial report into the scandal on Monday.  Stapel, who was a professor of social and behavioural sciences at Tilburg, was suspended last month after doubts emerged about research that concluded eating meat makes people anti-social and selfish.

I knew immediately that this research was faked when I scientifically observed meat eaters smiling at people and making charitable donations.  You just have to know what to look for.

THOSE DANGEROUS BISHOPS! – I simply cannot understand why liberal groups are so frightened of religious institutions who don't share all of their views.   Why, Catholic University in Washington, D.C. is being sued by a lawyer acting on behalf of Muslim students who apparently are offended that they must hold daily prayer meetings in a room that actually has...a cross.  Can you imagine that?  A cross in a Catholic school?  What scandal will occur next?

Now the Obamans, in a trip down the road to Nutsville, have withdrawn financial support from a religious group that is fighting to stop human trafficking.  As usual, the ACLU has shown up at the game.  From the Washington Post:

A contentious battle between Catholic groups and the Obama administration has flared in recent days, fueled by the new health-care law and ongoing divisions over access to abortion and birth control.

The latest dispute centers on a decision by the Department of Health and Human Services in late September to end funding to the U.S. Conference of Catholic Bishops to help victims of human trafficking, or modern-day slavery. The church group had overseen nationwide services to victims since 2006 but was denied a new grant in favor of three other groups.

The bishops organization, in line with the church’s teachings, had refused to refer trafficking victims for contraceptives or abortion. The American Civil Liberties Union sued, and HHS officials said they made a policy decision to award the grants to agencies that would refer women for those services.

The bishops conference is threatening legal action and accusing the administration of anti-Catholic bias, which HHS officials deny.

COMMENT:  Poor decision by the Obamans.  The funding can be restored to this critical, humanitarian mission.  As for access to abortion or contraception, for those who wish it, that can be arranged outside the religious order.  But to cut off funding when women are being enslaved, because of an ideological dispute, is unconscionable.

November 1, 2011       Permalink

OH DEAR, THE BOYS ARE BACK – AT 7:53 A.M. ET:  Apparently, our Russian friends aren't friends, and Barack Obama's "reset" of relations with Russia was actually a short circuit.  From the great Bill Gertz at the Washington Times:

The FBI rounded up a network of deep-cover Russian spies last year after the group came close to placing an agent near a Cabinet official in the Obama administration, a senior FBI counterspy said Monday as the bureau released once-secret documents on the case.

Frank Figliuzzi, assistant FBI director for counterintelligence, did not identify the Cabinet official, but other U.S. officials said it was Secretary of State Hillary Rodham Clinton.

Mr. Figliuzzi said in an interview that the FBI decided to end its more than 10-year-long counterspy investigation of the network because of concerns that the spies were “getting very close to their objective.”

“These 10 Russian officers were sent to the U.S. on a specific mission to get close to U.S. policymakers and leaders in our government,” he said, noting that one had developed a friendship with someone close to a Cabinet official.

Mrs. Clinton’s spokesman at the time the case broke, P.J. Crowley, sought to distance her from the case, but did not deny that she was the person mentioned in court papers. “There is no reason to believe that the Secretary of State was a special target of this spy ring,” Mr. Crowley said in an email.

COMMENT:  We often focus on the Islamist threat and the Chinese threat, or even the Venezuelan nuisance, but we tend to forget that Russia is becoming Russia again, with Putin very much in control, and newer and better weapons under development.  Also, Russia regularly blocks anything we want to do in the UN Security Council.

There has been no reset, except to move us into a weaker position.

November 1, 2011     Permalink