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Oregon 65, OSU 38!

Well, I didn’t see that coming. What an a– kicking! Every time I thought OSU would get back into it, Oregon would explode and we’d be back behind by 20 points. So who did Oregon lose to? Boise State and Cal and USC. Where was this game against USC? No one can stop this Oregon team that played yesterday!

Football Upsets 11/29

#11 Georgia 42, #22 Georgia Tech 45
#13 Missouri 37, Kansas 40
#17 Oregon State 38, Oregon 65!!!

Civil War Prediction

We are just about four hours away from the Civil War. Since Oregon hasn’t beaten anybody of consequence, I am going with the Oregon State Beavers and predicting they will beat the spread of 3 points. Then it’s on to the Rose Bowl for a rematch with Penn State.

Ben Bernanke: Anatomy of a Meltdown

There is a long and fascinating article in the latest New Yorker (yes I do read magazines of the liberal persuasion). The article is about Ben Bernanke titled Anatomy of a Meltdown. I had to laugh when in the second paragraph the author John Cassidy referred to Bernanke’s predecessor as “the charismatic free-market conservative Alan Greenspan.” Greenspan is widely known as a follower, at one time of Ayn Rand, and a strong proponent of Gold, but he turned out to be anything but conservative. In fact, he betrayed his mentor.

The article highlights the radical change that Bernanke took,

Ben Bernanke, who seemed to have been selected as much for his predictability as for his economic expertise, is now engaged in the boldest use of the Fed’s authority since its inception, in 1913.

It also points out how Bernanke didn’t see most of the crisis coming down the road. He preached about the “global saving glut”; he thought there was no problem with housing prices saying,

“I think it is important to point out that house prices are being supported in very large part by very strong fundamentals. . . . We have lots of jobs, employment, high incomes, very low mortgage rates, growing population, and shortages of land and housing in many areas. And those supply-and-demand factors are a big reason why house prices have risen as much as they have.”

And indeed a national housing decline hadn’t happened since the thirties. I think they also underestimated the leverage in the system arguing that sub-prime were only $2 Trillion out of a total of $14 Trillion.

I think the article gives us an important clue as to what’s coming soon:

Tim Geithner, the soon to be Treasury Secretary says. “We’ve done some incredibly controversial, consequential things in a remarkably short period of time, and it’s because he (Bernanke) was willing to act quickly, with force and creativity.” Bernanke, as well as Obama, are looking to FDR for clues to get us out of this depression.

After assuming office, in March, 1933, Roosevelt enacted bold measures aimed at reviving the moribund economy: a banking holiday, deposit insurance, expanded public works, a devaluation of the dollar, price controls, the imposition of production directives on many industries. Some of the measures worked; some may have delayed a rebound. But they gave the American people hope, because they were decisive actions. (emphasis added)

That’s what I believe is coming. Today over at Jesse’s Cafe Americain, is a reflection on economist Paul Krugman and what worked in the thirties and Jesse writes. After analysing the money supply numbers he concludes with

It is obvious that devaluing the dollar was the right thing to do.

We are looking a high inflation based on all the money that has been put into the system or authorized. It now is up to $8.5 Trillion, even before Obama. For years Richard Russell has told us that in crunch times the FED will have to “INFLATE OR DIE!” We are there.

Follow The Fault!

I noticed quite a few 3.0+ earthquakes in California today:

MAP 3.2 2008/11/29 13:01:06 36.880 -121.616 6.6 2 km ( 1 mi) ESE of Aromas, CA
MAP 3.2 2008/11/29 12:59:27 36.880 -121.617 6.4 2 km ( 1 mi) ESE of Aromas, CA
MAP 3.3 2008/11/29 11:04:50 35.742 -118.009 2.6 20 km ( 12 mi) ENE of Onyx, CA
MAP 3.0 2008/11/29 10:53:23 32.453 -115.303 13.2 26 km ( 16 mi) NW of Guadalupe Victoria, Mexico
MAP 3.0 2008/11/29 06:40:55 36.884 -121.619 6.6 2 km ( 1 mi) E of Aromas, CA

I’ve thought for some time that California would split apart and water would rush it to fill the Salton Sea. When you look at the map at the top, you realize just how small the distance is from the Gulf of Mexico to the whole Sacramento valley. It just follows the fault.

Scappoose Taxpayers Foot The Bill!

The South County Spotlight tells us that Scappoose, Oregon has run into some problems with certification of their water wells by the DEQ and it may cost the city upwards of $100,000! The question is, did the city screw up and miss a critical grace period deadline of September, 2007 or did they just hear about the process and are stuck with a big bill?

Inching Along With The Sellwood Bridge

The Bee has some new information about the Sellwood Bridge. First of all. did you know that this bridge “carries more traffic per lane, per weekday, than any other bridge in Oregon — including the Interstate Bridge!”
There are now dozens of options for the Sellwood Bridge:

One menu is choices of alignment; another offers a selection of west end traffic exchange and connection with Highway 43; another is the manner the bridge connects to Tacoma Street at the east end; and another represents the cross section detail for the bridge. On the dessert menu are things like options for pedestrian and bike crossing. Lots and lots of mix-and-match choices.

There are building alternatives:

…he County is offering an optional way of building alternatives A through D — a “phased” approach, by which parts of a construction or rehabilitation project are scattered across many years as funds become available.

There is now a 450-page Draft Environmental Impact Report to consider.

Between now and December 22nd, the County is accepting public input on these options and alternatives, on a survey form at that website. The survey is found online at: www.sellwoodbridge.org/surveys.aspx.

Clean Tech: Complex Field, Simple Story

John Rubino of DollarCollapse.com says

So your grand economic plan turns out to be something you can sketch out on a napkin: Borrow trillions of dollars and invest it in clean tech.

Read what Rubino suggests for companies that will participate:
Clean Tech: Complex Field, Simple Story

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Book Review: Extreme Measures by Vince Flynn

Dick Morris is criticizing President-elect Obama for putting on the backburner the war on terrorism with his pick of Gov. Janet Napolitano as secretary of Homeland Security. Morris believes Napolitano knows nothing about terrorism and everything about immigration and border security. That may, God forbid, come back to haunt Obama and us.

In light of Morris’ challenge, I would encourage you to read Vince Flynn’s new book Extreme Measures, another Mitch Rapp thriller.

Using his insider knowledge of intelligence agencies and the military, Flynn once again delivers an all-too-real portrayal of a war that is that is waged every day by a handful of brave, devoted souls. Smart, fast-paced, and jaw-droppingly realistic, Extreme Measures is the political thriller of our time.

Just like today, Congress after 9/11 wanted our men and women who protect us from the bad guys to go to any length to do their job. As we got farther down the road, the threat seemed to diminish and the tactics used against the bad guys turned Congress’ stomach. In the book Stan Hurley, an old hand around the CIA and terrorists explains the truth to Mike Nash:

My point is numbnuts, that while you are diddling around with your dick, Rome is burning. That’s the problem with this whole country. Fucking vast prosperity. No one has any real problems anymore. Ninety percent of the damn politicians in this town either think there’s no war on terror, or if we’d just be nice to those zealots they’ll leave us alone.

Well that ain’t going to fucking happen. The Huns are circling and we’re sitting around arguing about gay rights and prayer and guns and global warming and all kinds of bullshit. these idiots will eventually wake up to the threat, but by then it might be too late.

The language is salty, but no worse than I hear on the yellowbus carrying middle-schoolers.

The main political opponent to Rapp’s actions is a cross between Nancy Pelosi and Hillary Clinton and it’s nice to see how this all works out in the end. Extreme Measures is Obama’s worst nightmare and I hope he smartens up before a catastrophe.

Who Can Keep Track…

Who can keep track of all the money the U.S. government is spending and where it’s going to prop up the economy: $700 Billion TARP, $2 trillion unaccounted for, records sought through FOI by Bloomberg, $7.4 Trillion spent, $7,7 Trillion spent? Today BBC announces US Fed announces $800bn stimulus

About $600bn will be used to buy up mortgage-backed securities while $200bn is being targeted at unfreezing the consumer credit market.

On top of that there’s this headline: Barack Obama vows to spend his way out of crisis with $700bn plan

You know this can not last! The dollar is doomed! In the words of Steven King, “We’ve got a real shitstorm coming our way!”

UPDATE: SFGate.com has a breakdown of the now $8.5 Trillion allocated by our government at Government bailout hits $8.5 trillion

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