Here is an interesting presidential campaign ad ... from 1976:
Monday, October 13, 2008
Obama Voodoo
Sen. Barack Obama's 90 day foreclosure moratorium proposal today is bad enough. His $3000 tax credit for each new job created is a non-starter of a scheme that aspires to be counterproductive.
But his plan to give federal loans to states and cities (whose pre-existing spending problems are much greater issues than any temporary decline in tax revenues) is really bad. Besides, Kentucky has already tried that. This is not a time for more smoke and mirrors.
But his plan to give federal loans to states and cities (whose pre-existing spending problems are much greater issues than any temporary decline in tax revenues) is really bad. Besides, Kentucky has already tried that. This is not a time for more smoke and mirrors.
Hillary Clinton didn't have anything to do with this
They will have a tough time blaming this on any Republicans. Absentee voters in Albany, New York were mailed ballots last week with the Democratic nominee for President listed as "Barack Osama."
Maybe they can pin it on their blind Governor.
Maybe they can pin it on their blind Governor.
Saturday, October 11, 2008
Appearance of impropriety in Fayette jail case
Intense speculation this weekend has Fayette jail employee plaintiffs in the wage and hour class action lawsuit against the city protesting the settlement agreement their attorneys worked out for them under suspicious circumstances.
Think low rent Fen-Phen scandal. That would be the class action lawsuit in which the plaintiffs attorneys ripped off their clients, gorging themselves on the settlement.
This case is different in the number of political connections between the low settlement for the hundreds of present and former employees who were cheated by the city ($530,463 in cash, $345,000 in paid leave time), the attorneys fees paid to lawyers at Miller, Griffin & Marks ($1,144,537), and Mayor Jim Newberry.
Judge Jennifer Coffman ordered the plaintiffs' attorneys at Miller, Griffin & Marks to get testimony from three neutral-party attorneys that the settlement amount was appropriate. Two of the three contributed to Mayor Newberry's most recent campaign. All agreed the settlement amount was not improper.
A hearing is scheduled for Tuesday, October 14 in which individual plaintiffs may express concerns about the settlement agreement. Dissatisfaction among current and former jail employees and the appearance that plaintiffs' attorneys may have short-changed the plaintiffs in deference to Mayor Newberry is further complicated by a four decades-old story from Memorial Coliseum:
The Wes Coffman in the story is not only the same Dr. Wes Coffman who donated $1075 to Mayor Jim Newberry's last election campaign, he is also the husband of Judge Jennifer (Burcham) Coffman, who is also the judge in the class action lawsuit.
Doesn't look good for the plaintiffs in this one:
Think low rent Fen-Phen scandal. That would be the class action lawsuit in which the plaintiffs attorneys ripped off their clients, gorging themselves on the settlement.
This case is different in the number of political connections between the low settlement for the hundreds of present and former employees who were cheated by the city ($530,463 in cash, $345,000 in paid leave time), the attorneys fees paid to lawyers at Miller, Griffin & Marks ($1,144,537), and Mayor Jim Newberry.
Judge Jennifer Coffman ordered the plaintiffs' attorneys at Miller, Griffin & Marks to get testimony from three neutral-party attorneys that the settlement amount was appropriate. Two of the three contributed to Mayor Newberry's most recent campaign. All agreed the settlement amount was not improper.
A hearing is scheduled for Tuesday, October 14 in which individual plaintiffs may express concerns about the settlement agreement. Dissatisfaction among current and former jail employees and the appearance that plaintiffs' attorneys may have short-changed the plaintiffs in deference to Mayor Newberry is further complicated by a four decades-old story from Memorial Coliseum:
The Wes Coffman in the story is not only the same Dr. Wes Coffman who donated $1075 to Mayor Jim Newberry's last election campaign, he is also the husband of Judge Jennifer (Burcham) Coffman, who is also the judge in the class action lawsuit.
Doesn't look good for the plaintiffs in this one:
Friday, October 10, 2008
When the going gets tough...
... tough Americans go to work.
In honor of the can-do, American spirit that will get us through any and all of the struggle that lies ahead, The Bluegrass Institute has rented out The Kentucky Theater in Lexington on the evening of October 29th for a special showing of the inspirational movie "Call of the Entrepreneur."
And you're invited.
For details, you may join "The Call of the Entrepreneur" group on Facebook. If you can't do that, call me at the phone number at the top of this page.
In honor of the can-do, American spirit that will get us through any and all of the struggle that lies ahead, The Bluegrass Institute has rented out The Kentucky Theater in Lexington on the evening of October 29th for a special showing of the inspirational movie "Call of the Entrepreneur."
And you're invited.
For details, you may join "The Call of the Entrepreneur" group on Facebook. If you can't do that, call me at the phone number at the top of this page.
Get ready for our "Inflation Holocaust"
Any bail out supporters want to refute this?
Now is not a good time to be in debt, which has always been a good thing to avoid. But now that our politicians have made all the wrong moves to deepen our crisis of confidence, it is about to be a much worse time to be in debt.
Nevertheless, the fundamentals of the economy have been strong and they remain so. No one ever repealed the business cycle. If we can just get the politicians to back off, the power of the American economy will continue to make its rich and the poor richer. While nincompoops like Jimmy Carter and Barack Obama are stuck on blaming the Bush tax cuts and while nincompoops like George Bush and John McCain are promising to restore stability, the rest of us are working to keep the engine of the American economy roaring so efficiently that we can even afford to keep their sorry rear ends in their nice, warm seats.
We won't get it, but what we really need is some good old laissez faire capitalism around here.
Now is not a good time to be in debt, which has always been a good thing to avoid. But now that our politicians have made all the wrong moves to deepen our crisis of confidence, it is about to be a much worse time to be in debt.
Nevertheless, the fundamentals of the economy have been strong and they remain so. No one ever repealed the business cycle. If we can just get the politicians to back off, the power of the American economy will continue to make its rich and the poor richer. While nincompoops like Jimmy Carter and Barack Obama are stuck on blaming the Bush tax cuts and while nincompoops like George Bush and John McCain are promising to restore stability, the rest of us are working to keep the engine of the American economy roaring so efficiently that we can even afford to keep their sorry rear ends in their nice, warm seats.
We won't get it, but what we really need is some good old laissez faire capitalism around here.
Is federal government ready for economics lesson?
Can't imagine why the mainstream media wouldn't be interested in picking up a national story about trillions of taxpayer dollars being flushed down the toilet by one out-of-control federal bureaucracy, can you?
This one even has a strong local connection.
Now is the perfect time to reconsider the economic policies wrought by our federal government in the name of eliminating poverty, leveling the playing field, and labeling services provided by individuals as "rights" to be mandated by the government.
This one even has a strong local connection.
Now is the perfect time to reconsider the economic policies wrought by our federal government in the name of eliminating poverty, leveling the playing field, and labeling services provided by individuals as "rights" to be mandated by the government.
Thursday, October 09, 2008
Even more criminal activity in Fayette Jail
Fayette County Detention Center muckety-mucks Mary Hester and Edye Dabney are trying to keep quiet a little problem they have with male employees sexually abusing women in the system.
Mayor Newberry?
Mayor Newberry?
Cut spending and borrowing, Governor
Gov. Steve Beshear had a press conference this morning to sell hard the idea that we need lots of new and higher taxes in Kentucky.
But he isn't telling you everything you need to know.
Read this, too.
But he isn't telling you everything you need to know.
Read this, too.
Good question for Mayor Jim Newberry
Louiville Metro Corrections has a short list for hiring a new jail director. Fayette County Detention Center's Director Ron Bishop used to be the director in Louisville.
Wonder why Bishop isn't under consideration for his old job, especially since he still lives in Louisville?
That's because Bishop is a hot potato and Louisville isn't interested in playing Lexington's game.
Mayor Jim Newberry hasn't shown much gumption when it comes to dealing with real problems. Could it get any clearer that he needs to do something about the mess at the Lexington jail?
Wonder why Bishop isn't under consideration for his old job, especially since he still lives in Louisville?
That's because Bishop is a hot potato and Louisville isn't interested in playing Lexington's game.
Mayor Jim Newberry hasn't shown much gumption when it comes to dealing with real problems. Could it get any clearer that he needs to do something about the mess at the Lexington jail?
The terrorists don't want you to sell stocks short
With the oh-so-successful ban on short-selling of stocks coming off today, a finance blogger has a suggestion for those who think less government regulation of financial markets will only bring on ruination. He says you might consider converting to Islam.
Wednesday, October 08, 2008
Fed warns about falling property taxes
Just in time for Gov. Steve Beshear's "we're borrowing our way to prosperity" victory lap, we get the word from the Federal Reserve about what to expect -- and when to expect it -- when it comes to falling property tax revenues.
I know the presidential candidates are determined to "stabilize" real estate prices, but all the fun and games will be disrupted soon enough as our big entitlement programs come calling for money we don't have.
I know the presidential candidates are determined to "stabilize" real estate prices, but all the fun and games will be disrupted soon enough as our big entitlement programs come calling for money we don't have.
Let me guess: we need casinos and more taxes?
Gov. Steve Beshear has called a press conference for Thursday morning at 9:30, room 110 in the Capitol to discuss the economy.
Starting to hit the pension nail on its head
Financial difficulties can be a good thing when it forces prioritization. In flush times, a satellite dish with every channel in the world might be a lot of fun. When times get tough, it makes sense to figure out which channels you can live without.
The question we are going to have to answer in Kentucky is when our public defined-benefit pension plans become like Australian rules football on ESPN 12. The prospect of massive taxpayer losses have been too easy to overlook until now.
As part of a CNN Money article about how private defined-benefit plans should all be gone soon, there is this detail about why these taxpayer time bombs have hung on longer:
Pretty soon, more people may come to think of paying for public employee benefits that are unavailable in the real world as akin to sitting around watching Australian rules football on ESPN 12.
The question we are going to have to answer in Kentucky is when our public defined-benefit pension plans become like Australian rules football on ESPN 12. The prospect of massive taxpayer losses have been too easy to overlook until now.
As part of a CNN Money article about how private defined-benefit plans should all be gone soon, there is this detail about why these taxpayer time bombs have hung on longer:
Pretty soon, more people may come to think of paying for public employee benefits that are unavailable in the real world as akin to sitting around watching Australian rules football on ESPN 12.
Tuesday, October 07, 2008
Anne Northup turns on Mitch McConnell
Don't know how this one is going to end up, but I like to see the fight:
I'm not crazy about the typo in the middle of this ad -- and Anne's timing for getting religion on pork spending leaves a little to be desired -- but it is a conversation Republicans are going to have to have with each other at some point.
I'm not crazy about the typo in the middle of this ad -- and Anne's timing for getting religion on pork spending leaves a little to be desired -- but it is a conversation Republicans are going to have to have with each other at some point.
Let's sing a happy bailing song!
The Dow Jones Industrial Average is down 1000 points since the Congress rushed through its bailout and pork sandwich and President Bush signed it last week.
And I feel great.
No, I'm not celebrating the national angst -- though it's tempting -- or the $700 billion we flushed into the abyss. I'm just relieved there is general agreement we shouldn't print up another $700 billion to fix all our problems again. And the widespread angst will be hugely profitable once we get back to allowing that sort of thing around here.
Nevertheless, I find it necessary to correct some convenient re-writing of history about Herbert Hoover. He is cast, conveniently enough for those doing the casting, as a hard-hearted Republican free-marketeer who sat by and did nothing as the nation collapsed into the Great Depression.
This simply is not true.
In fact, I found this great quote from Hoover about his efforts to stave off disaster:
I am the type of proud "bitter-end liquidationist" that neither Hoover nor Bush would allow to get in the way of all the inverventionist fun. Our problem now, as then, is excessive credit that has to be wrung out of the system. The sooner our politicians let that happen, the sooner the economy will get back to growing.
California's hints that they will need bailing out are just the tip of the iceberg that represents the states and cities that may keep the next president too occupied on that level to do much damage on a large scale for a while.
That and the inevitable firesale prices on assets all over the world for those of us who didn't wreck ourselves in the party, may make it all worthwhile fairly soon.
And I feel great.
No, I'm not celebrating the national angst -- though it's tempting -- or the $700 billion we flushed into the abyss. I'm just relieved there is general agreement we shouldn't print up another $700 billion to fix all our problems again. And the widespread angst will be hugely profitable once we get back to allowing that sort of thing around here.
Nevertheless, I find it necessary to correct some convenient re-writing of history about Herbert Hoover. He is cast, conveniently enough for those doing the casting, as a hard-hearted Republican free-marketeer who sat by and did nothing as the nation collapsed into the Great Depression.
This simply is not true.
In fact, I found this great quote from Hoover about his efforts to stave off disaster:
"We might have done nothing",Hoover said, "[but] we determined that we would not follow the advice of the bitter-end liquidationists."
I am the type of proud "bitter-end liquidationist" that neither Hoover nor Bush would allow to get in the way of all the inverventionist fun. Our problem now, as then, is excessive credit that has to be wrung out of the system. The sooner our politicians let that happen, the sooner the economy will get back to growing.
California's hints that they will need bailing out are just the tip of the iceberg that represents the states and cities that may keep the next president too occupied on that level to do much damage on a large scale for a while.
That and the inevitable firesale prices on assets all over the world for those of us who didn't wreck ourselves in the party, may make it all worthwhile fairly soon.
Sign o' the times
I'm struck by how unhelpful the mainstream media is in the wake the financial meltdown/bailout/new Great Depression nonsense going on these last few weeks. It almost seems like party pooping to point out that if those of us who are able keep providing services people need and keep our spending to within our means and keep our wits about us when some people with microphones are screaming about the end of the world, we will emerge from any temporary setbacks as stronger people.
I hope you can see and enjoy the humor in this (click below to read):
I hope you can see and enjoy the humor in this (click below to read):
Monday, October 06, 2008
Still looking for that pony!
The Kentucky Club for Growth adds some details to a post I put up this morning about Kentucky's deteriorating financial situation and particularly the official inaction that stands to make it all worse. (Go here to see the Club's post.)
One bit of good news that I just found out -- that's good news in the optimistic sense of the boy who spent hours digging through a room full of manure hopeful to find the pony that was surely in there somewhere -- is that Kentucky has not issued any of the billion and a half dollars in bonded indebtedness the legislature decided to issue in the budget passed last spring. Given the current state of the municipal bond market, it may be a while before they can sign our children up for any of that debt. So -- good news.
Gotta enjoy it when you can find it.
One bit of good news that I just found out -- that's good news in the optimistic sense of the boy who spent hours digging through a room full of manure hopeful to find the pony that was surely in there somewhere -- is that Kentucky has not issued any of the billion and a half dollars in bonded indebtedness the legislature decided to issue in the budget passed last spring. Given the current state of the municipal bond market, it may be a while before they can sign our children up for any of that debt. So -- good news.
Gotta enjoy it when you can find it.
Setting off dead-tree cannibalism
A weekend discussion about the wisdom of subsidizing newspapers with scarce tax dollars has created a minor firestorm at the Bowling Green Daily News that resulted in me being deemed an unperson (reference "1984" Orwell,George). (See this for the latest from the Daily Nooze.)
More on this from me here.
I've been very interested in the ongoing transformation of the news business. So I found a discussion about how big newspapers may start going out of business soon worth a read -- including a much more civil discussion in the comments section.
More on this from me here.
I've been very interested in the ongoing transformation of the news business. So I found a discussion about how big newspapers may start going out of business soon worth a read -- including a much more civil discussion in the comments section.
Emergency Summit in Frankfort
I'm heading to the Capital Plaza Hotel in Frankfort for a 1 pm emergency summit hosted by the Bluegrass Institute dealing with Gov. Steve Beshear's seizure of internet domains.
See you there! (Click below for details)
See you there! (Click below for details)
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