| "Only dull people are brilliant at breakfast" -Oscar Wilde |
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"The liberal soul shall be made fat, and he that watereth, shall be watered also himself." -- Proverbs 11:25 |
Labels: And You Want To Give Power Back To These People?, Greedy Republican Bastards, humor, Ronald Reagan, taxes
Even though many on Wall Street believe that a default remains unlikely, the financial markets are starting to become agitated. Volatility in stocks has soared, and some investors say stock prices are falling because a United States default could severely raise companies’ costs of doing business.
In the Treasury market, investors are starting to sell, fearing that the government will not make good on some interest payments that will be due next month. And complex financial instruments that will pay out if the United States defaults have become twice as expensive to buy as they were at the start of the year.
Analysts say the signs of panic are small for now.
“The metaphor is a pile of sand,” said Mark Zandi, the chief economist at Moody’s Analytics. “You keep putting one piece of sand on the pile, nothing happens, and then, all of the sudden it just caves.”
Several traders and bankers, including Mr. Zandi, said the imminence of a possible default was already damaging the United States’ standing as the most creditworthy country in the world. The tarnished reputation may linger, even if the government reaches a deal, and especially if the country’s financial books remain unbalanced.
“Our aura is diminished. You know people really view the U.S. as the AAA, the gold standard, and I think we’re tarnishing that,” Mr. Zandi said.
The government began preparing for much tougher borrowing conditions in the years since the financial crisis, shifting toward issuing longer-term debt. This was especially needed because much of the debt issued to cover the financial crisis of 2008 was short-term debt.
The United States still enjoys low borrowing costs — below 3 percent on a 10-year-note — but there is fear that the theatrics around the current debate will increase those costs. Low national borrowing costs translate into lower borrowing costs for American corporations and individuals.
Labels: brinksmanship, economic death watch, Greedy Republican Bastards, Ronald Reagan
When I was a child, President Ronald Reagan was the nice man who gave us jelly beans when we visited the White House.
I didn’t know then, but I know it now: The jelly beans were much more than a sweet treat that he gave out as gifts. They represented the uniqueness and greatness of America — each one different and special in its own way, but collectively they blended in harmony.
[snip]
Happy birthday, Mr. President. We will strive to continue your vision and keep our shining city on the hill as bright as you envisioned.
Labels: American Idiots, Ronald Reagan, wingnuttia


Labels: Ronald Reagan
Labels: bloggers, Ronald Reagan, Rush Limbaugh
In other words, the Russian report – possibly representing Moscow’s first post-Cold War collaboration with the United States on an intelligence mystery – was not only kept from the American public but apparently from the chairman of the task force responsible for the investigation.
The revelation further suggests that the congressional investigation was shoddy and incomplete, thus reopening the question of whether Reagan’s landslide victory in 1980 was, in part, set in motion by a dirty trick that extended the 444-day captivity of the hostages who were freed immediately after Reagan was sworn into office on Jan. 20, 1981.
The coincidence between Reagan’s inauguration and the hostage release was curious to some but served mostly to establish in the minds of Americans that Reagan was a tough leader who instilled fear in U.S. adversaries. However, if the timing actually resulted from a clandestine arms-for-hostage deal, it would mean that Reagan’s presidency began with an act of deception, as well as an act of treachery.
The Russian report also implicates other prominent Republicans in the Iranian contacts, including the late William Casey (who was Reagan’s campaign director in 1980), George H.W. Bush (who was Reagan’s vice presidential running mate), and Robert Gates (who in 1980 had been a CIA officer on the National Security Council before becoming executive assistant to Carter’s CIA Director Stansfield Turner).
Casey, who served as Reagan’s first CIA director, died in 1987 before the 1980 allegations came under scrutiny. Bush, who was President during the task force’s 1992 inquiry, angrily denied the accusations at two news conferences but was never questioned under oath. Gates, who was CIA director in 1992 and is now President Barack Obama's Defense Secretary, also has brushed off the suspicions.
As described by the Russians, the 1980 hostage negotiations boiled down to a competition between the Carter administration and the Reagan campaign offering the Iranians different deals if the hostages were either released before the election to help Carter or held until after the election to benefit Reagan.
The Iranians “discussed a possible step-by-step normalization of Iranian-American relations [and] the provision of support for President Carter in the election campaign via the release of American hostages,” according to the U.S. Embassy’s classified translation of the Russian report.
Meanwhile, the Republicans were making their own overtures, the Russian report said. “William Casey, in 1980, met three times with representatives of the Iranian leadership,” the report said. “The meetings took place in Madrid and Paris.”
At the Paris meeting in October 1980, “R[obert] Gates, at that time a staffer of the National Security Council in the administration of Jimmy Carter, and former CIA Director George Bush also took part,” the Russian report said. “In Madrid and Paris, the representatives of Ronald Reagan and the Iranian leadership discussed the question of possibly delaying the release of 52 hostages from the staff of the U.S. Embassy in Teheran.”
Both the Reagan-Bush Republicans and the Carter Democrats “started from the proposition that Imam Khomeini, having announced a policy of ‘neither the West nor the East,’ and cursing the ‘American devil,’ imperialism and Zionism, was forced to acquire American weapons, spares and military supplies by any and all possible means,” the Russian report said.
According to the Russians, the Republicans won the bidding war. “After the victory of R. Reagan in the election, in early 1981, a secret agreement was reached in London in accord with which Iran released the American hostages, and the U.S. continued to supply arms, spares and military supplies for the Iranian army,” the Russian report continued.
The deliveries were carried out by Israel, often through private arms dealers, the Russian report said. [For text of the Russian report, click here. To view the U.S. embassy cable that contains the Russian report, click here.]
The Russian report came in response to an Oct. 21, 1992, query from Hamilton, who asked the Russian government what its files might show about the October Surprise case. The report came back from Sergey V. Stepashin, chairman of the Supreme Soviet’s Committee on Defense and Security Issues, a job roughly equivalent to chairman of the Senate Intelligence Committee.
In what might have been an unprecedented act of cooperation between the two longtime enemies, Stepashin provided a summary of what Russian intelligence files showed about the October Surprise charges and other secret U.S. dealings with Iran.
In the 1980s, after all, the Soviet KGB was not without its own sources on a topic as important to Moscow as developments in neighboring Iran. The KGB had penetrated or maintained close relations with many of the intelligence services linked to the October Surprise allegations, including those of France, Spain, Germany, Iran and Israel.
Labels: Iran, October Surprise, Ronald Reagan
According to a WorldNetDaily review a new book, Hand of Providence: The Strong and Quiet Faith of Ronald Reagan, by Mary Beth Brown it appears that the next move is sainthood. The book claims that angels were sent by God twice to save Reagan’s life so that he could save his country. According to the report:
Reagan's children believe those mysterious nurses that helped pull their father through this life-threatening ordeal were angels.
"Patty believes they were angels, and so do I," said Michael Reagan, who wrote the foreword to "Hand of Providence."
A central tenet of mythmaking is to make assertions that cannot be disproved. While Carter was a devout Christian believer, Reagan was never considered anything more than what fundamentalists normally deride as merely religious. The book highlights two Reagan “fever-dreams” during an illness as a young man and after the assassination attempt in 1981 where Reagan confused his caregivers with angels. Sadly, Reagan was known for conflating his movie roles with real life experiences so it may be that his role in “Angels Wash Their Faces” with the Dead End Kids may have been literally true in his mind.
Labels: Ronald Reagan, wingnuttia
The Reagan economy was a one-hit wonder. Yes, there was a boom in the mid-1980s, as the economy recovered from a severe recession. But while the rich got much richer, there was little sustained economic improvement for most Americans. By the late 1980s, middle-class incomes were barely higher than they had been a decade before — and the poverty rate had actually risen.
When the inevitable recession arrived, people felt betrayed — a sense of betrayal that Mr. Clinton was able to ride into the White House.
Given that reality, what was Mr. Obama talking about? Some good things did eventually happen to the U.S. economy — but not on Reagan’s watch.
For example, I’m not sure what “dynamism” means, but if it means productivity growth, there wasn’t any resurgence in the Reagan years. Eventually productivity did take off — but even the Bush administration’s own Council of Economic Advisers dates the beginning of that takeoff to 1995.
Similarly, if a sense of entrepreneurship means having confidence in the talents of American business leaders, that didn’t happen in the 1980s, when all the business books seemed to have samurai warriors on their covers. Like productivity, American business prestige didn’t stage a comeback until the mid-1990s, when the U.S. began to reassert its technological and economic leadership.
I understand why conservatives want to rewrite history and pretend that these good things happened while a Republican was in office — or claim, implausibly, that the 1981 Reagan tax cut somehow deserves credit for positive economic developments that didn’t happen until 14 or more years had passed. (Does Richard Nixon get credit for “Morning in America”?)
But why would a self-proclaimed progressive say anything that lends credibility to this rewriting of history — particularly right now, when Reaganomics has just failed all over again?
Like Ronald Reagan, President Bush began his term in office with big tax cuts for the rich and promises that the benefits would trickle down to the middle class. Like Reagan, he also began his term with an economic slump, then claimed that the recovery from that slump proved the success of his policies.
And like Reaganomics — but more quickly — Bushonomics has ended in grief. The public mood today is as grim as it was in 1992. Wages are lagging behind inflation. Employment growth in the Bush years has been pathetic compared with job creation in the Clinton era. Even if we don’t have a formal recession — and the odds now are that we will — the optimism of the 1990s has evaporated.
This is, in short, a time when progressives ought to be driving home the idea that the right’s ideas don’t work, and never have.
It’s not just a matter of what happens in the next election. Mr. Clinton won his elections, but — as Mr. Obama correctly pointed out — he didn’t change America’s trajectory the way Reagan did. Why?
Well, I’d say that the great failure of the Clinton administration — more important even than its failure to achieve health care reform, though the two failures were closely related — was the fact that it didn’t change the narrative, a fact demonstrated by the way Republicans are still claiming to be the next Ronald Reagan.
Now progressives have been granted a second chance to argue that Reaganism is fundamentally wrong: once again, the vast majority of Americans think that the country is on the wrong track. But they won’t be able to make that argument if their political leaders, whatever they meant to convey, seem to be saying that Reagan had it right.
Labels: 2008 election, Paul Krugman, Ronald Reagan
Ten Republican men gathered on a stage Thursday night to pound their chests. Each of them looked tough. Each talked tough. Each tried to be the alpha dog, the real-deal decider, the next Ronald Reagan.
"Ronald Reagan was a president of strength," said former Massachusetts Gov. Mitt Romney, looking tall, tan and strong. "His philosophy was a philosophy of strength: a strong military, a strong economy and strong families."
"We should never retreat in the face of terrorism," said former New York Mayor Rudy Giuliani, with a prosecutor's voice and a gleaming forehead.
Arizona Sen. John McCain, the current front-runner, came out like a chained dog, pointing at the camera to punctuate his points. "We will do whatever is necessary," he said of terrorist-at-large Osama bin Laden. "We will bring him to justice, and I will follow him to the gates of hell."
It was hard to miss the point. Republicans have a different code than Democrats. Liberals elect leaders with finesse and style, men or women who can inspire, who can seek out the truth and lead the nation there. When the Democratic presidential candidates debated last week, the front-runners were modest and reasonable and calm. Republicans, on the other hand, elect father figures, men who will never flinch and will always lay down the law. The candidates came out swinging.
Eight years ago, President George W. Bush looked as though he would pass this test. But he turned out to be a ninny. He led the conservative movement into a period of decadence and decline. He revealed the limits of American power by sending the nation into a losing foreign war. So the Grand Old Party has reached back to the past, to Ronald Reagan, the great California cowboy who never sweated the details. The Republican primary has become, in many ways, a fatherhood audition. Only a man's man will save us.
Find someone as macho as Reagan, Giuliani suggested, and America's enemies will fold in fear. "He has to look at an American president and he has to see Ronald Reagan," Giuliani said of the president of Iran, Mahmoud Ahmadinejad. "Remember, they looked in Ronald Reagan's eyes, and in two minutes, they released the hostages." Of course, that is not what happened in Iran in 1981. But it doesn't matter. Republicans believe in their guts that Reagan's swagger released the hostages, grew the economy, and won the Cold War.
Labels: Republic Party, Ronald Reagan
