I’ve had my doubts about the right wing of the Republican Party in recent years, as far as the shift toward a populist style of campaigning focusing on “values,” and the corresponding lack of concern for prudent oversight of the government which many of them exhibit. I’ve also argued that in times of emergency such as the present, the guidepost for making decisions should be pragmatism rather than ideology — free market or otherwise. Sometimes the headstrong Republicans in the House just make me cringe. Yet the more I think about it, the more I’m inclined to give them credit for resisting pressure to go along with the dubious bank bailout bill demanded by President Bush.

After the initial panicked

Continue reading " House to Wall Street: Drop dead! * "

Based on early returns, it appears that almost two-thirds of the people of Ecuador voted to approve a revised constitution that would greatly enhance the powers of the president. For one thing, he would have the power to dissolve Congress once per term, though that would force new presidential elections to be held. Incumbent presidents would be eligible for reelection after their initial four-year term is up; President Rafael Correa has already served two years, and thus may hold on to power for eight additional years — or more, pending further constitutional revision. The left-wing Correa hailed the results of the referendum, saying, “This confirms the citizens’ revolution.” As reported by the

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With all the last-minute shuffling in connection with the negotiations over President Bush’s proposed big bank bailout, I was afraid that John McCain might not be at his best during last night’s “debate.”* Fortunately, McCain rose to the occasion, showing a solid command of a wide range of issues and poking holes in Obama’s vision of utopia. There were a few awkward moments, such as when McCain talked about the fallen soldier’s bracelet he wears, and Obama came back with a sharp rejoinder. McCain occasionally seemed a little uneasy, but for the most part his poise and dignified demeanor were very reassuring, especially in nerve-wracking times like these.

For his part, Obama came across as a little aloof or even smart-alecky, I th

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President Bush took his case for bailing out the nation’s banking system to the American people last night, and I was less than convinced. Yes, I agree that the Federal government must take action to forestall a financial panic, but we don’t need to stoke the fires any further. The note of dire alarm was uncharacteristically blunt for Bush, who often talks in upbeat terms. See Washington Post.

One thing was missing from his speech, however: a call for national sacrifice for the greater good. It’s just like his risk-averse approach to waging war in Iraq, not wanting to impose any hardships on the folks ba

Continue reading " Bush pleads for bank bailout "

It is becoming clear that the plunge in stock prices and the more general crisis of nerves on Wall Street has given a huge boost to Barack Obama’s campaign hopes. According to a poll published in the Washington Post (in conjunction with ABC), he has erased John McCain’s recent slim lead and now is up by nine percentage points, 52% to 43%. Not surprisingly, among those who believe that the economy is the biggest issue (50% of all voters), Obama’s lead is even bigger, 62% to 33%. Those who are more pessimistic about the U.S. economy’s long-term prospects are much more likely to vote for Obama as well. Is that just a blip, or do most Americans rea

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In yet another display of military might aimed at regaining its former status as a global superpower, the Russian government announced that a fleet of ships has set sail to Caracas, Venezuela. The fleet will be led by the nuclear-powered guided missile cruiser Peter the Great, but it’s unclear how many ships will join it. The naval exercise is also intended as a show of support to President Hugo Chavez, who has been keeping up the diplomatic pressure on the United States recently, and is heavily involved with the radical governments in Ecuador and Bolivia. In addition, “Two Russian bombers arrived in Venezuela last week for training flights.” Russian oil firms are also exploring investment options in Venezuela, and it all adds up to a m

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Here’s a nice riddle that will hopefully open a few minds in the midst of this heated political campaign. Hat tip to Patrick Carne.

I am under 45 years of age,
I love the outdoors,
I grew up hunting,
I am a Republican, a proven reformer,
I have taken on the Republican Party establishment, my own party,
I have many children,
I have a spot on the national ticket as vice president,
And with less than two years in the governor’s office.

Have you ever heard of me before now?

I am Teddy Roosevelt.

Continue reading " Can you guess who I am? "

One of the most worrisome trends in Latin America, aside from the spread of radical populism inspired by Hugo Chavez, is the rising frequency of deadly prison riots. This a partly a symptom of social stress, but mainly reflects the growing influence of criminal gangs involved in the drug trade. This phenomenon has been concentrated primarily in Central America, but may be spreading. Brazil has suffered such experiences in recent years, and it even happened Paraguay in June. In Mexico this week, about 20 people died in La Mesa prison in Tijuana, and a video of the shooting can be seen at BBC. It started last Sunday, when three prisoners died in a riot over demands for more food, an

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As the crisis in the U.S. financial sector unfolds and starts to affect the rest of the economy, there will inevitably be a lot of finger-pointing, since we are in the middle of a presidential campaign. There is no question that part of the blame belongs with the Bush administration; as I wrote on June 18, the “Mortgage scandal is bi-partisan.” But more and more facts are coming out that show just how close Barack Obama and his party are tied to the shady institutions behind the crisis. It turns out that, among all members of Congress who received campaign donations from Fannie Mae and Freddy Mac (including individuals and PACs), Barack Obama ranks second, with $126,34

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Even though the economic crisis is currently grabbing the headlines, both candidates have placed an unusual degree of emphasis on foreign policy this year. For most Americans, international issues are either too remote or too complicated to deal with, and not many elections are decided by such issues. Two of the biggest exceptions would probably be 1968 and 1980, but in both those years, social and economic problems were also very salient.

To a large extent, Sen. John McCain has staked his candidacy on his greater command of foreign policy issues, and his greater sense of judgment and prudence compared to Sen. Barack Obama. Given the public’s slowly waning enthusiasm for fighting the protracted wars in Iraq and Afghanistan, such

Continue reading " Decision 2008: Foreign policy "

Tensions in Bolivia have risen sharply once again over the past week, as several departmental (provinicial) governments have resisted central government authority, provoking a harsh crackdown by President Evo Morales. The army was sent in to take over in the northern department of Pando, after a state of emergency was declared there. Morales ordered the prefect (governor) Leopoldo Fernandez to be arrested, accusing him of having about 30 pro-government farm workers killed. In Santa Cruz province, the heart of the secessionist movement, opposition leader Branko Marinkovic ordered roadblocks to be taken down as a gesture of goodwill. The crisis assumed international proportions when Morales ordered U.S. Ambassador Philip Goldberg to leave the count

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That was the famous headline in Variety magazine after Black Tuesday in 1929, when the stock market crashed. Yesterday’s 500-point drop in the Dow Jones Industrial Average wasn’t as bad on a percentage basis (”only” 4.4%), but the alarm bells should rouse our attention nevertheless. The Lehman Brothers investment firm went bankrupt yesterday after no buyers stepped forward, while Merrill-Lynch* was bought out by Bank of America. The collapse in investor confidence is raising pressure on the Federal government to step in, and decisions made by the Treasury Department and the Federal Reserve in the next few days could have profound ramifications for our country’s future. See

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As expected, the mainstream media couldn’t wait to pounce on Gov. Sarah Palin for her lack of experience in national policy matters. ABC’s Charles Gibson scooped his rivals in getting the first lengthy interview with the governor, in her scenic home town of Wasilla, Alaska. He used the opportunity to ask her a classic “Gotcha!” question, soliciting her opinion of the Bush Doctrine — without saying what it was until it was clear that she didn’t know. Gov. Palin was caught off guard but handled herself fairly well, nonetheless, showing poise in a tense situation during her first real “test” in national politics. My only complaint about Gov. Palin’s performance in the interview was her ov

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It’s been seven long years since that awful day in September when everything suddenly changed forever. Many of us knew immediately that our nation was at war, and that it would be a long and difficult conflict. Our country did not choose to begin the war, and likewise it is beyond our power to end the war simply by “choosing” peace. Whether we like it or not, the United States, and indeed much of the Western world, will be in a state of war (or virtual war) for years and years to come. That does not mean that our troops will be engaging in protracted bloody firefights month after month, or that our pilots will be dropping bombs on terrorist hideouts year after year, but we will be subject to potential attack in one form or another for the in

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It was a nice gesture that Senators John McCain and Barack Obama made a joint pilgrimage to Ground Zero in lower Manhattan today, placing roses in memory of the 9/11 victims. It was also a welcome relief that no campaign ads were seen on TV today — no taunts about lipstick, no sarcasm about the other guy’s call for “change” and “reform.” The less that the seventh anniversary of the September 11 attack is used to promote particular political parties or leaders, the better off we will be as a nation. United we stand. ‘Nuff said.

Tomorrow we return to our regularly-scheduled bare-knuckled campaign discourse, heavy on symbolism and “lite” on substance. Sigh…

Continue reading " Can we de-politicize 9/11, please? "

In yet another sign of how topsy-turvy the world is becoming, OPEC has invited Brazil to become a member of the elite petroleum exporting quasi-cartel. (A genuine cartel would control supplies on a consistent basis, and OPEC only does so on occasion.) Actually, it was Iran that made the invitation, and strategic (anti-U.S.) considerations no doubt played a big part in this gesture of “Third World solidarity.” Historically, Brazil has been dependent on a very large share of its energy needs, which is why it has invested so much into ethanol fuel production, mostly made from sugar cane. A major discovery of offshore oil reserves was made in April, and this could be the break that would finally make Brazil into a actual superpower, as opposed to a s

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Ever since Gov. Palin “hit a home run” in her speech to the GOP convention in St. Paul last week, she has created an enormous wave of enthusiasm in the Republican ranks, while attracting a large number of uncommitted voters, especially white women. Critics such as David Gergen (on CNN) warn that her honeymoon can’t last much longer, and she will have to face intensive questioning from the press. Just wait for an onslaught of “gotcha” questions such as, “Can you name the new president of India?” Her lack of foreign travel is regarded as a weakness by some as well. As a native of Alaska, however, I’ll bet she at least knows who the prime minister of Canada is, unlike 90% of Americans.

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It appears that the radical president of Ecuador, Rafael Correa, is determined to terminate the presence of U.S. military and anti-drug agents in his country next year. It seems less likely all the time that he is just trying to bargain for a better deal. (See August 11.) The Washington Post gave one reason why Correa isn’t worried about the economic losses if the 450 American personnel do leave his country, as planned: The Venezuelan government and a Hong Kong company are investing in development projects in the area around the coastal city of Manta, where the U.S. air base is located.

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They never would have tried this during a weekday, when the stock market could have panicked. The takeover over “Fannie Mae” (the Federal National Mortgage Association) and “Freddy Mac” (the Federal Home Loan Mortgage Corporation) by the U.S. Government, which was announced on Sunday by Treasury Secretary Henry Paulson, in effect means that the mortgage industry is nationalized. Given the continued shakiness of secondary markets for mortgage-backed securities, which undermines Wall Street and by extension the world financial system, such a drastic move was probably inevitable.

As the

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One of the most esteemed senior members of the U.S. House of Representatives is Frank Wolf, from the 10th Congressional District, which covers western Fairfax County and a few counties north and west of there. He was first elected in 1980, part of the Reagan Revolution. Over the years, however, he became known as someone who was deeply committed to promoting U.S. human rights objectives, and as a champion of bipartisan cooperation. Now he is running for his 15th term, facing a challenge from Judy Feder, who ran against him two years ago. The Washington Post noted that Wolf will be the only incumbent Republican on the ballot in Northern Virginia, sinc

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