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Herman Cain stumbles again

If you’re running for president, you should know some of the basics of foreign-policy. Over the last six months, our involvement with Libya has been questioned by conservatives and liberals alike. Muammar Qaddafi has been a thorn in our side since the Reagan administration. It is clear that his state has sponsored terrorists (Lockerbie bombing, bombing of a Berlin dance club). His state has been involved in trying to acquire nuclear weapons. (They did negotiate nuclear disarmament with the Bush administration.) We have sided with the rebels against Muammar Qaddafi and his Libyan regime. I know this off the top of my head. I understand that I’m not in a room with a bunch of journalists being asked questions but this is some of the basic facts that any and all presidential candidates should have at their fingertips. If you do not have this basic information you’re not a serious presidential candidate period.

Herman Cain’s excuse for his poor performance was that he was tired. Seriously. There might be no job that is more grueling than being President of the United States. I can’t believe he’s whining about not having enough sleep.

This is from Think Progress and it documents some of Herman Cain’s foreign-policy blunders over the last several months:

By |2011-11-15T14:10:45-04:00November 15th, 2011|Elections, Foreign Affairs, Party Politics|Comments Off on Herman Cain stumbles again

Putting yesterday’s financial disaster into perspective

If we’ve learned anything over the last couple years, it should be that the stock market is highly volatile. The stock market does not always go up. The stock market does not always guarantee great returns. For those who can afford the risk (not average Americans), the stock market can be a great place to speculate and make money. In my opinion, Americans need to push to get their retirements placed back into safe pensions. The volatility of the stock market guarantees that are 401(k)s are at more risk than most of us are comfortable with.

From Calculated Risk:

The table below shows the largest down days on the S&P 500 since 1950.

Largest S&P 500 One Day Percentage Declines since 1950
Date Percent Decline Close Previous Close Six Months Later
1 10/19/1987 -20.5% 224.84 282.7 15.3%
2 10/15/2008 -9.0% 907.84 998.01 -4.7%
3 12/1/2008 -8.9% 816.21 896.24 15.7%
4 9/29/2008 -8.8% 1106.42 1213.27 -28.8%
5 10/26/1987 -8.3% 227.67 248.22 15.3%
6 10/9/2008 -7.6% 909.92 984.94 -5.9%
7 10/27/1997 -6.9% 876.99 941.64 23.7%
8 8/31/1998 -6.8% 957.28 1027.14 28.0%
9 1/8/1988 -6.8% 243.4 261.07 11.7%
10 11/20/2008 -6.7% 752.44 806.58 17.9%
11 5/28/1962 -6.7% 55.5 59.47 10.6%
12 8/8/2011 -6.7% 1,119.47 1199.38
13 9/26/1955 -6.6% 42.61 45.63 14.1%
14 10/13/1989 -6.1% 333.65 355.39 3.2%
15 11/19/2008 -6.1% 806.58 859.12 10.1%
16 10/22/2008 -6.1% 896.78 955.05 -5.0%
17 4/14/2000 -5.8% 1356.56 1440.51 -2.0%
18 10/7/2008 -5.7% 996.23 1056.89 -18.1%
19 6/26/1950 -5.4% 18.11 19.14 10.0%
20 1/20/2009 -5.3% 805.22 850.12 18.1%
21 11/5/2008 -5.3% 952.77 1005.75 -4.8%
22 11/12/2008 -5.2% 852.3 898.95 4.8%
23 10/16/1987 -5.2% 282.7 298.08 -8.1%
24 11/6/2008 -5.0% 904.88 952.77 2.7%
25 9/17/2001 -4.9% 1038.77 1092.54 12.2%
26 2/10/2009 -4.9% 827.16 869.89 21.8%
27 9/11/1986 -4.8% 235.18 247.06 23.4%
28 8/4/2011 -4.8% 1200.07 1260.34
29 9/17/2008 -4.7% 1156.39 1213.6 -31.3%
30 9/15/2008 -4.7% 1192.7 1251.7 -36.8%
31 3/2/2009 -4.7% 700.82 735.09 47.1%
32 2/17/2009 -4.6% 789.17 826.84 27.2%
33 8/10/2011 -4.4% 1,120.75 1172.53
34 4/14/1988 -4.4% 259.75 271.58 7.0%
35 3/12/2001 -4.3% 1180.16 1233.42 -8.0%
36 4/20/2009 -4.3% 832.39 869.6 31.7%
37 3/5/2009 -4.3% 682.55 712.87 46.2%
38 11/30/1987 -4.2% 230.3 240.34 10.0%
39 11/14/2008 -4.2% 873.29 911.29 4.2%
40 9/3/2002 -4.2% 878.02 916.07 -6.4%
41 10/2/2008 -4.0% 1114.28 1161.06 -25.1%
42 10/25/1982 -4.0% 133.32 138.83 20.3%

By |2011-08-11T12:35:50-04:00August 11th, 2011|Economy|Comments Off on Putting yesterday’s financial disaster into perspective

Fixing America

This really isn’t that hard. There’s a reason that Americans feel frustrated. They’re working harder and making less. This didn’t happen by accident. A number of policies were put in place which made it easier for business (big business) to squeeze the middle class.

First, eliminate the debt ceiling. If Congress does not want to spend money then they should not authorize the money to be spent. It is that simple. We do not need a debt ceiling. It serves no practical purpose. From a political standpoint it’s a hot potato that’s only grown hotter over the last several months.

Secondly, appropriate billions of dollars for state and local governments. The government must stop laying off workers if we are going to turn this economy around. Now, let’s understand each other. This is not going to be done during this reactionary Congress. The House will never pass such a bill. They’re more likely to worsen our economic woes by cutting federal, state and local workers. Over the last six months, state and local governments shed somewhere around half a million jobs. This is one reason that the economy continues to be sluggish. Let’s turn this around. I’m not saying hire people that are going to do nothing. Instead, I want government to do the jobs they were doing before.

Thirdly, allow the Bush tax cuts to disappear.

These three things will go a long way to fixing America. There are a lot of other things that we need to do and I’ll be continuing this series over the next several weeks/months. I’m sure that you have some ideas about what needs to be fixed. Send me your thoughts.

By |2011-07-29T06:41:42-04:00July 29th, 2011|Congress, Economy|Comments Off on Fixing America
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