July 07, 2008

Really, Boone?, TOD problems, $1 Trillion Deficit and more

  • Boone Pickens, one of the financiers responsible for the Swift Boat attacks on John Kerry in 2004, is going back on his word to pay $1 mn to anyone who can refute the attacks. Boone, it's a $1mn and an "I'm Sorry". Just do it already
  • The Lakeline TOD, planned as part of the commuter rail line in Austin, has his a snag... one parcel of land developers were going to use may be foreclosed.

    At least 141 acres of the planned 326-acre Lakeline Station project, near U.S. 183 and RM 620, have been posted for foreclosure after California-based developer Pacific Summit Partners failed to make at least one quarterly payment to William Savage, the previous owner of the property.

    Savage, who sold the land in 2006, could not be reached for comment Thursday. Messages left for his attorney, Rick Hightower, were not returned.

    Pacific Summit principal Steve Levenson said his partnership missed a payment because of problems arranging financing and asked for an extension; Levenson didn't say when the payment had been due.

  • Bill Gross, manager director of PIMCO, has a letter of advice for Obama that positively spot on and very surprising coming from a Republican. In it, he clearly delineates where we are heading fiscally and puts forth that President Obama may be the first to run a $1 Trillion Annual Deficit.

    While the Republicans will blame you for years and label you “Trillion Dollar Obama” in future campaigns, there is in fact not much that you or any other President can do. You’ve inherited an asset-based economy whose well has been pumped nearly dry with lower and lower interest rates and lender of last resort liquidity provisions that have managed to support Ponzi-style prosperity in recent years. Foreign lenders have cooperated by purchasing Treasuries at yields which when combined with dollar depreciation have resulted in negative returns on their money. Even if these charades continue (and they may not), their stimulative effects – their magical powers to transform a 110-pound weakling into a Charles Atlas/Arnold Schwarzenegger mensch of an economy – are gone. What you need now is fiscal spending and lots of it. No ordinary Starbucks will do, Mr. President, you need to step up for a six-pack of Red Bull.

    Gross is uncannily accurate and has been talking for years about the profligate spending (and lax taxation) of Bush and the Republicans. What he presents in his letter is real and not altogether unlikely. However, it'll also go a long way to insuring that the future is far brighter for all Americans.

  • It appears Obama got a discounted mortgage, much like many Republicans and Democrats in the Congress. And, possibly, then Governor George W. Bush. Here's a newsflash for all you people out there not in the mortgage business... Some banks will give you a discounted rate on your mortgage in exchange for other banking business. My own company has a friends and family loan that is discounted from our published rates. It's a perk for working here. Get over it.
  • Is Chris Bell going to run in SD 17? It appears so, though the announcement has, again, been put off. Come on, Chris. Just RUN.
  • Once more, Warren Chisum is speaking about his intention to file his insane, two years to get divorced, bill. The Statesman calls it a bad idea. I agree with them and will go one step further... Chisum, you're a dumbass.
  • The NYT has an awesome editorial up about banning nuclear weapons and the renewed effort to do just that. Apparently, the movement has some surprising bipartisan support. We couldn't agree more.

    Two decades later, a who’s who of the national security establishment — George Shultz, Henry Kissinger, William Perry and Sam Nunn — is calling on the United States to lead a global campaign to devalue and eventually rid the world of nuclear weapons.

    None of these men (two former secretaries of state, a former secretary of defense and a former chairman of the Senate Armed Services Committee) are given to casual utopianism — or anything casual. They are trying to shock sensibilities.

    In two opinion articles in The Wall Street Journal, they described a frightening new world of ever-expanding nuclear appetites, in which traditional deterrence no longer works. They argued that the only way for the United States to rally the cooperation it needs to confront such dangers is with a clear commitment to the goal of a world without nuclear weapons.

    They called for backing that up with policies that have also long been anathema to hawks: including banning all nuclear testing, taking American and Russian missiles off of hair-trigger alert and agreement on “further substantial reductions” in both countries’ arsenals.

    “I do not believe we can do this as a demand by countries that have nuclear weapons to countries that do not,” Mr. Kissinger says.

    It is hard to see their proposals as anything but a rejection of President Bush’s failed nuclear weapons policy. Mr. Bush’s aides have spent eight years ridiculing arms control agreements as “old think” and denying any relationship between what America does with its own nuclear weapons and its obvious inability to constrain others’ behavior.

  • Jobsanger has some information up on Sen. Brimer's renewed effort to keep Wendy Davis off the ballot because it's, frankly, the only hope he has of holding that seat. Come on, Kim, why not let the voters decide?
  • On drilling OCS and ANWR, Hal at Half Empty, GETS it. Why doesn't Cornyn?
  • TX10 is definitely in play
  • Dobson v Obama... guess who wins? You know, Dobson is old as hell... when IS he going to die?
  • Posted by mcblogger at July 7, 2008 12:48 PM

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