Risk Rap

Rapping About a World at Risk

Reality Bites Back

If you build the foundation of your house on a pile of sand, when the water rises it will fall with a great crash.

Wendell Phillips reminds us that “eternal vigilance is the price of liberty.” That vigilance demands that we examine the proclamations, actions and behaviors of the people running for office. As free people endowed with the grace of liberty we must hold up the proclamations and representations of people seeking office to the light of truth. Every free person must scrupulously examine the candidates and the evidence they offer so as to confer our vote to those who most closely represent the ideals and aspirations we desire for our community and country.

When a candidate comes before us claiming to be one of the common folk and bases a good measure of their candidacy on proclaiming their commonness to appeal to popular sentiment it is fitting if we examine their conduct and actions to see if their claims ring true when held up to the light of truth.

Sarah Palin, the self proclaimed hockey mom is not as common as she would like American’s to believe. Ms. Palin is a skilled politician who knows how to trade on her political currency to advance her career. Ms. Palin’s selection as McCain’s running mate was a cynical attempt by a stagnating campaign to enlist a willing media to derail the electorates attention from the substantive issues painfully confronting this country.

More has been written and debated about the sexism of people who raised questions about Ms. Palin’s qualifications then elucidating a coherent and complete response to those questions. My belief is that the Republican Party could have surfaced a more competent and capable candidate to assume a role that is one heart beat away from the presidency of the United States.

More has been made of Ms. Palin’s opponents elitism and urban chauvinism then a thorough examination of her insistence that real American’s reside on the Main Streets of small town America. My belief is that this is divisive. It does not build national unity and is harmful to a necessary national consensus that democracies require in order to function. Ms. Palin’s demonization of opponents does great harm to our republic.

More has been spoken about Ms. Palin’s claim to be a leading proponent of Maverickanism. Americans would be well served to examine her program to determine the extent of its divergence from the current administration. My belief is that Ms. Palin advances a program that remains subservient to the interests of large oil companies and big business and is fully wedded to the continuation of the policies of the current administration. Does the slogan “drill baby drill” sound familiar? This country has been rudderless and bereft of any effective leadership under two successive republican administrations. We need a break from SOP. We need a transformational president. (AKA A Real Maverick)

We must also ask, “when is a hockey mom not really a hockey mom?” Do all hockey mom’s spend $150K on clothes? This nation’s hockey moms are rarely seen in fancy leather jackets and very slick dress suits replete with fine complimentary accessories. Today, the majority of hockey moms are hoping they can afford the fees and expensive equipment that participation in hockey leagues requires. Hockey mom’s hope they have the extra dosh to fill up the tank to drive their worry and work weary self and child to make it to the rink for a 6:00AM Saturday morning ice time. Your Neiman Marcus and Saks Fifth Avenue suits might just be enough to get you kicked out of Hockey Moms United USA. It certainly will get you a membership into the uber elite Waldorf Des Rothschild’s Social Club.

The other recent pillar of the McCain campaign has been the emergence of Joe the Plumber. Joe the Plumber is not a licensed plumber. Joe the Plumber is a laborer who is on the lam from the Arizona DMV for skipping out on a bunch of parking tickets. Joe the Plumber is not in any position to buy his bosses business and it appears that his hope to make a $250K salary remains a very long longshot. But incredibly enough John McCain holds this guy up as a poster child for unfair taxation. McCain’s argument is that sometime in the future if Joe the Plumber buys a business and makes $250K he’ll have to suffer a 3% increase in taxes.

McCain’s incredibly incomprehensible and disingenuous campaign is dangerously crowned by the destructive robocalls that shout Obama is a socialist, a supporter terrorists and is eager to fleece the middle class of America and give their money to the people who don’t make money. I don’t know from what planet McCain has just arrived from but if he’s spent any time recently with the middle class of America he would well know that 8 years of unbridled republicanism has already fleeced the treasure of the middle class and is now in possession of the monied interests that the republican party slavishly serve.

Most dangerous and cynical of all is a McCain campaign flyer put out by the RNC insinuating Mr. Obama’s terrorist ties. It shows an airplane and a picture of Obama ostensively guiding a crew of terrorists to fly into a building to continue the rein of terror and bring down Babylon America.

McCain has been flying this flag for months. I would ask McCain if he and his campaign have evidence concerning Mr. Obama’s support of terrorist activities to bring it to law enforcement officials so American citizens can be protected from the devises of this pernicious subversion. Thats what true patriots are called to do Mr. McCain. Mr. McCain’s fear mongering, character assassination and attempts to question people and groups love of country and patriotism is a sick pandemic that the real enemies of this republic encourage. And like the Hockey Mom Sarah Palin and Joe the Not Yet Plumber, Mr. Obama the terrorist is a well crafted fiction in the senile mind of sedentary campaign bordering on political dementia.

I welcome the conclusion to McCain’s ugly campaign. Built on sand, existing as a fictive sand castle in Mr. McCain’s mind it is hoped the election will wash away this nonsense in a tide of an affirmative mandate for real transformation.

Music Video: Temptations, Just My Imagination

Music Video: Windmills of Your Mind

Risk: truth, voter distrust, political ambivalence’s, electoral alienation

October 23, 2008 Posted by | culture, elections, McCain, Palin, politics, RnB, soundtrack | , , , , , , , , | Leave a comment

Bernanke Bonds, Paulson Puts & Cox Calls

Marx made a wry observation in the opening lines to one of his historical tomes, “Men make their own history, but they do not make it as they please; they do not make it under self-selected circumstances, but under circumstances existing already, given and transmitted from the past. The tradition of all dead generations weighs like an nightmare on the brains of the living.”

So it is with us. We are experiencing a crisis that is the result of a decades long deconstruction of the United States economic, political and cultural infrastructure. It began with the dismantling of our manufacturing base. It continued with the transformation of our capital markets. The purpose of the stock markets was to facilitate capital formation for the creation of businesses and industries. Today the markets function principally for speculative investment and the enrichment purposes of monied interests. Our deconstruction accelerated with extreme political Rovian partisanship and the fear mongering and self serving righteous divisiveness incessantly screamed by the howling yodelers of Talk Radio. Finally our enlightened republic is threatened with extinction by the intentional dismantling of our public education system and the virulent attack on secular learning and civic participation.

During times like these weird things begin to happen. We need to be prepared for anything and everything. That said it is heartening to see the Fed, Treasury and SEC act with such dispatch to address the US role in the global banking crisis. An economic meltdown serves no one. The long term impact of these swift concerted actions will be profound. Undoubtedly these actions will add to the national debt. Some think it unfair to assign this burden onto the backs of future generations. Indeed this country started a revolution on the idea that taxation without representation is an intolerable injustice that cannot stand. Years from now the yet to be born will curse the long dead for their poor stewardship of our national wealth and resources and how it contributed to an extreme and unfair taxation they are forced to pay. That is of course if America does make good on its debt. Alexander Hamilton may be stirring in his grave. So this is a time out from the heat of a global market implosion. What is happening?

PROHIBITION ON SHORT SELLING: Shorting can now be considered a criminal enterprise. At present it only applies to large financial services firms. Lots of firms are clamoring to get on the you can’t short my stock list.

The new national slogan from the SEC should be “GO LONG ON AMERICA!”

REPO MAN:Global Repo Desk was created to facilitate liquidity amongst the global central banking system. London, Tokyo, Frankfurt and the other G8 central bankers are all counter parties to Bernanke’s $180 B liquidity infusion. Paulson’s putting on his old Goldman Sach’s trading cap and promises to trade us out of this bad position.

The Feds new slogan, “NO CENTRAL BANKER LEFT BEHIND!”

GOOD BANK / BAD BANK:Bernanke is using his infinite balance sheet to segregate all the bad debt from the good stuff. Its kind of like what ENRON did as it packaged all its poor debt obligations and parked them in offshore SIVs. Maybe it will work this time because unlike ENRON the Fed can print money. Lots of it.

New Slogan “BERNANKE AND PAULSON, SMARTEST GUYS IN THE ROOM.”

CORPORATE BAILOUTS: The US taxpayer is now the owner of the worlds largest insurance company. It’s $80 B capital infusion in AIG will keep this company solvent for the time being and keep the credit rating agencies from lowering AIG’s credit condition to junk. Cox has requested a copy of Lloyds of London Names List.

New Slogan: “PRAY FOR NO MORE HURRICANES, WE CAN”T AFFORD TO PAY OFF THE CLAIMS”

SHOTGUN WEDDINGS: First it was Bear Stearns and JP. Now its Merrill and B of A. Who’s next?

New Slogan: “WE DO MORE MARRIAGES THEN ELVIS AT A LAS VEGAS DRIVE THROUGH”

INFINITE BALANCE SHEET: That is what they keep saying. The Fed can do these financial gymnastics do to its access to an infinite balance sheet that can finally match infinite assets to cover infinite liabilities. Sounds like a tall order to me but i must admit it sounds pretty good from where I’m sitting today. Don’t know how it will go down with the future generations. From Bernanke’s lips to Gods ear.

New Slogan: “INFINITY, ITS MORE THEN ENOUGH TO GET IT DONE”

Bailout politics will sure to become a bloodsport. Every once in awhile you see the commentators on CNBC smugly ask about a threat to free markets and contemplating about the evolving form of capitalism. I can also hear Palin’s squeaking voice proclaiming she’s ready and offer some sage advise concerning our current plight. Palin would say that if she were so blessed to take the oath of office with her fellow Maverick John McCain, she would immediately put AIG up for sale on e-bay and return the proceeds of the sale to the American taxpayers.

Music: Temptations, Ball of Confusion

Risk: economy, market, future generations

September 19, 2008 Posted by | banking, Bernanke, Bush, Cox, credit crisis, Paulson, pop, TARP | , , , , , , , , , , , , , , , , | Leave a comment