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MAY 20,  2012

SHORT TAKES ON THE DRIFTING WRECKAGE – AT 8:53 P.M. ET:

AS COLLEGE COSTS SOAR – Investor's Business Daily reports that, for the first time in history, the number of unemployed people over 25 who have some college exceeds the number who did not attend college.  There were nine million Americans listed as unemployed in April.  Some 4.7 million had attended college, whereas 4.3 million had not.  This occurs at a time when college is more expensive than ever.  Maybe it's time we asked why.

BULLETIN:  CANADA IS STARVING – Many Canadians are seething at a UN "report" saying Canada, among the richest and healthiest countries in the world, actually is awash in inequality, poverty, and obesity.  Canadian officials blasted the report as having ratified the belief that the UN as a laughing stock.  They also attacked the vast waste of money on this "research," at a time when millions are starving around the world.

VOTE COUNT – Some voting is underway in Egypt's presidential election, where we're confronted by a group of bad choices.  So far votes have come from Egyptians living abroad, 587,000 of whom registered to participate.  Leading right now is the Islamist candidate, followed by a leftist candidate.  Isn't that exciting?  I wonder which one Obama is rooting for.  Neither of the leading candidates is pro-American, as was Hosni Mubarak, whom we helped usher out of power.  There are also serious concerns that democracy in Egypt may turn into "one man, one vote, one time."

May 20, 2012       Permalink

QUOTE OF THE DAY – AT 11:48 A.M. ET:  Well, this is refreshing.  The New York Times has actually published a piece by journalist Campbell Brown, rapping President Obama on his "condescending" attitude toward women.  In fairness, Brown notes that her husband is a Romney adviser, but the points she makes are valid, I think: 

WHEN I listen to President Obama speak to and about women, he sometimes sounds too paternalistic for my taste. In numerous appearances over the years — most recently at the Barnard graduation — he has made reference to how women are smarter than men. It’s all so tired, the kind of fake praise showered upon those one views as easy to impress. As I listen, I am always bracing for the old go-to cliché: “Behind every great man is a great woman.”

Some women are smarter than men and some aren’t. But to suggest to women that they deserve dominance instead of equality is at best a cheap applause line.

My bigger concern is that in courting women, Mr. Obama’s campaign so far has seemed maddeningly off point. His message to the Barnard graduates was that they should fight for a “seat at the table” — the head seat, he made sure to add. He conceded that it’s a tough economy, but he told the grads, “I am convinced you are tougher” and “things will get better — they always do.”

Hardly reassuring words when you look at the reality. According to the Center for Labor Market Studies at Northeastern University, about 53.6 percent of men and women under the age of 25 who hold bachelor’s degrees were jobless or underemployed last year, the most in at least 11 years. According to the Pew Research Center, if we broaden the age group to 18- to 29-year-olds, an estimated 37 percent are unemployed or out of the work force, the highest share in more than three decades.

COMMENT:  Read the whole piece.  It's very good.  The Dems are trying to portray themselves as saviors to American women, but the fact is that they haven't lifted a finger for women, who are being disproportionately hurt in this economy. 

I'm surprised The Times ran this piece.  Maybe they're trying to show their "fairness," which is not one of their stronger characteristics.

May 20,  2012      Permalink

LOCKERBIE "BOMBER" FINALLY DIES – AT 10:57 A.M. ET:  We put the word "bomber" in quotes because I'm far from satisfied that we know all the facts in the Lockerbie bombing case.  The Libyan convicted of the crime has finally died.  His death answers no questions, but recalls a terrible crime and the cynicism that attended the man's release.  From WaPo:

Abdel Basset Ali al-Megrahi, a shadowy Libyan intelligence officer who was convicted for the 1988 bombing of Pan Am flight 103 over Lockerbie, Scotland, that killed 270 people and whose release from prison in 2009 sparked international uproar, died Sunday in Tripoli, the Associated Press reported. He was 60.

The death was announced by his son, Khaled al-Megrahi, AP said.

Mr. Megrahi was serving a life sentence in a Scottish prison in 2008 when he was diagnosed with prostate cancer. In August 2009, he was released under a Scottish law that allows terminally ill prisoners to die at home. When he was freed, Mr. Megrahi was expected to live three months.

Instead it was three years. 

That Mr. Megrahi died in his native country — and not in a Scottish prison cell — was a shocking end to the life of a man considered a terrorist by the U.S. Government and who the FBI once named to its “most wanted” list.

COMMENT:  There was considerable commentary at the time of his release that his medical condition was just an excuse – that the British government put pressure on Scotland to release Megrahi in order to facilitate oil contracts with Libya.  We point out that no clear proof of corruption has been presented, but that the medical excuse seemed too pat at the time.  Britain was, indeed, trying to improve its ties to Libya. 

Nor are all parties to the tragedy convinced that all those responsible have been brought to justice.  While families of the victims have been outraged all along, governments often responded coldly when demands for further inquiries were made.  Governments are often more concerned about commercial ties than about the deaths of 270 people. 

Today there are still many forces at work who choose to look the other way in the face of terrorism.  This is especially true in Europe, and especially in Germany and Austria, which have close commercial ties with Iran.

May 20, 2012       Permalink 

MARCO ON THE ATTACK – AT 10:36 A.M. ET:  For a man who's said he doesn't want the job, Marco Rubio certainly sounds like he's auditioning for the v.p. slot on the Republican ticket.  And he's very, very good at it:

Columbia, South Carolina (CNN) – Florida Sen. Marco Rubio condemned President Barack Obama on Saturday in unusually harsh terms, calling him one the most “divisive” and “destructive” political figures the country has ever seen.

“For all the policy disagreements that we have with our president, it is hard to understate how much he inspired people across this country four years ago,” Rubio said at a fundraising dinner for South Carolina Republicans.

The man who currently occupies the White House, he explained, “is a very different person.”

“We have not seen such a divisive figure in modern American history as we have over the last three and a half years,” Rubio said.

“They get frustrated,” he said. “They can’t win on their record. And so they have chosen to go down a different road, one that I think is destructive, counterproductive and very unfortunate.”

He accused the Obama campaign of attempting to “pit Americans against each other” by engaging in class warfare and unfairly attacking Republicans on gender issues.

“Never have we seen such an effort to divide the American people in an effort to win an election as we have today,” Rubio said.

Rubio was addressing roughly 1,200 attendees at the South Carolina Republican Party’s Silver Elephant Banquet, the state party’s largest fundraiser of the year.

COMMENT:  Romney has held his vice-presidential cards close, but much of the buzz is centering on Rubio and Senator Rob Portman of Ohio.  Rubio would be the exciting choice, Portman the safe one.

But I wouldn't rule out anything.  From what we hear, Romney's staff is vetting a number of candidates quietly, which is exactly the right thing to do at this stage.  I'm guessing that Romney will wait as long as possible to make his choice public, as conditions and needs in a campaign change over time.

May 20, 2012       Permalink

MAY 19,  2012

SHORT TAKES ON THE DRIFTING WRECKAGE – AT 11:41 P.M. ET: 

WISCONSIN – The Milwaukee Journal, Wisconsin's most important newspaper, has recommended to its readers that they vote to retain Republican Governor Scott Walker in the June 5th recall election.  Dems, and their allies in the public-service unions, are trying to have Walker fired by the voters.  The Journal, while citing its differences with Walker, argues that he's done nothing to warrant a recall.  In our view, Walker has saved Wisconsin from the economic ruin falling on neighboring Illinois and faraway California.

YOU NEVER KNOW WHO'S INSIDE THOSE MACHINES – The United States Government, Barack Obama, chief executive officer, has fined a Utah high school $15,000 for accidentally leaving a soda-vending machine on during lunchtime.  This outrageous felony put at risk an entire nation, and its next generation.  It will take the school a year of revenue raising just to pay the fine.  The funds, of course, won't go for books, music, math, or the arts.  But who needs that stuff when you're fighting devil Pepsi?

OBAMA FAVORS GROWTH (Ta-da!) – He is urging European nations at the G8 summit to ease up on austerity and pursue policies that favor growth and job creation.  It would be nice, of course, if Obama had some kind of record to stand on in giving such sage advice.  He does not.  And, sadly, growth and job creation in Europe often means an increase in public employees, and little else.  Hey, maybe they are taking Obama's advice.

May 19,  2012     Permalink

WARNINGS FROM BRITAIN – AT 10:34 A.M. ET:  We're struggling with our own economy, but things in Europe are much worse, with Greece near collapse, and the European Union's economic scheme in severe jeopardy.  Now a major British economic figure warns that Britain's economy may never recover if the economic convulsions of Europe get worse.  The implications for the United States could be considerable.  From The Telegraph:

Britain's economy may suffer “permanent” damage and “never quite get back up” if the euro collapses in a chaotic way, the Government’s chief economic forecaster has said.

Robert Chote, the head of the Office of Budget Responsibility, issued the warning amid fears of financial shockwaves across Europe if Greece crashes out of the single currency.

The senior Government economist, who has access to the most up-to-date Treasury data, said this could cause a recession as bad as the last one and “lingering, long-lasting effects” for Britain’s public finances.

He said it could “permanently hamper the economy” in the worst case scenario, raising the prospect that Britain may never again see the same high growth it has had in recent decades.

Mr Chote’s comments come as:

* A row broke out over whether Angela Merkel, the German leader, has suggested Greece should hold a referendum on leaving the euro.

Greek officials said she raised the idea in a phone call with their President, but a spokesman for the German Chancellor strongly dismissed the reports.

* European Union officials finally admitted they were drafting plans for how Greece could exit the single currency.

* George Osborne, the Chancellor, warned that the “storms” of a eurozone crisis are gathering again. He said there is a risk that Europe’s “good work in building a stable financial sector and creating jobs and prosperity might unwind”.

COMMENT:  We should follow economic events in Europe closely.  Their impact is as much psychological as monetary.  If Europe starts to slide into financial chaos, many "investors" in the U.S. will start to panic, pull their money out, and precipitate another economic crisis here.

Ordinarily, the West would look to American leadership at a time like this.  I don't see too many nations looking our way.  They may have finally learned that we can do a lot better than a community organizer in the White House.

May 19, 2012        Permalink

WATCH THIS WITH BOTH EYES – AT 9:57 A.M. ET:  And make sure to take anti-nausea pills.  There is now sudden "optimism" – read that as "self-delusion" – on the part of diplomats dealing with the Iranian nuclear program.  We're now four days away from a major negotiating session that will be held in Baghdad.  From Reuters: 

Iran and the UN nuclear watchdog are making headway towards a framework deal on how to tackle concerns about its atomic activity, diplomats said on Friday, a potential bargaining chip for Tehran in next week's negotiations with world powers.

Iran says such an agreement is needed before it can consider a request by UN inspectors to visit the Parchin military site where they believe explosives tests relevant for developing nuclear weapons may have been carried out.

Oh really?  In other words, come to an agreement with us, then we'll consider your request.  In the meantime, you'll be flying blind.

The International Atomic Energy Agency (IAEA) and Iran held talks this week in Vienna and are due to meet again on May 21, two days before Tehran and the six global powers discuss the future of its disputed nuclear program in Baghdad.

Western diplomats accredited to the UN agency said Iran seemed keen to agree a so-called "structured approach" - an outline of how to deal with the IAEA's questions - ahead of Baghdad in the apparent hope of gaining leverage there.

Translated:  Any agreement now would give Iran what it wants so far.

They say they would welcome any sign that Iran is prepared to stop stonewalling an almost four-year-old IAEA investigation based on Western intelligence suggesting Iran has researched ways to acquire the ability to produce nuclear bombs.

But they caution that it remains to be seen whether an understanding with IAEA is implemented in practice, saying Iran in the past has used haggling over procedural matters as a way to buy more time as its nuclear program advances.

It would be "a step forward on the process side," one diplomat said about the possibility of an agreement to be announced on Monday, suggesting it would signal real progress "if it gets us to where we can finally address substance."

He said it would be a relatively brief document on the scope and principles of how to pursue talks regarding possible military dimensions to Iran's nuclear program: "No real details. Just a precursor to starting to ask real questions."

COMMENT:  What an absolute farce.  How many years has the West been negotiating with Iran over its nuclear program?  It's got to be the better part of a decade.  And we may get an agreement that may lead to discussions over substance if the first agreement can be agreed upon, and its detailed then agreed upon.

And all the while, the centrifuges in Iran keep spinning.  Aren't we lucky?

Let's face it, the person allowing this to happen is Barack Obama, who has one objective:  getting re-elected.  He doesn't want any confrontation with Iran before the election, especially a confrontation that would drive up oil prices.  And he certainly doesn't want an Israeli attack on the Iranian nuclear installations. 

As the story suggests, the Iranians are buying time.  And we know the reason.  And some mature adults are going to have to deal with this.

May 19, 2012        Permalink

REVERSAL OF FORTUNE – AT 9:41 A.M. ET:  A week ago we were all ecstatic over a Rasmussen daily tracker that had Mitt Romney up eight points over Barack Obama.  Well, not so fast, Jones.  Today's Ras tracker tells a different story, and shows how difficult this race will be:

The Rasmussen Reports daily Presidential Tracking Poll for Saturday shows President Obama earning 46% of the vote and Mitt Romney attracting 45% support. Four percent (4%) would vote for a third party candidate, while another five percent (5%) are undecided.

And Rasmussen is also reporting a hefty rise in the president's approval numbers.  According to his poll, some 49% at least somewhat approve of Obama's performance, whereas 50% disapprove.  Rasmussen makes the point that a president's approval numbers on election day generally approximate the share of the vote he'll receive.

You've probably noticed that the polls have been all over the place, probably because of different polling techniques rather than any sudden changes in public opinion.  Most polls still place Obama ahead.  The RealClearPolitics average of polls gives Obama's current lead as 1.7%. 

In other words, a tough, close election.

May 19,  2012     Permalink