ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Straws in the Wind January 11, 2008

Updated on January 11, 2008

Straws in the Wind

ALZHEIMER'S EXPERIMENT PRODUCES HOPEFUL RESULTS

Successful Alzheimer's therapy may be on the near horizon. Experiments with Enbrel an FDA-approved drug for rheumatoid arthritis show great promise for treating the symptoms of Alzheimer's.

REPUBLICAN SUPPLY-SIDE TAX POLICY IN NEED OF OVERHAUL

Moderately conservative NYTimes op-ed writer in today's paper comments and quotes former Bush speech writer David Frum ("axis of evil:" coiner) as follows:

"Supply-side economics had a good run, but continual tax cuts can no longer be the centerpiece of Republican economic policy. The demographics have changed. The U.S. is an aging society. We have made expensive promises to our seniors. We can't keep those promises at the current tax levels, let alone at reduced ones. As david Frujm writes in 'Comeback,' his indespensable new book: 'In the face of such a huge fiscal gap, the days of broad across-the-board, middle-class tax cutting are over.'"

SUMMING UP THE 110TH CONGRESS

Lewis Lapham sums up the 110th Congress nicely as follows in January Harper's :

"Congress doesn't see fit to stop the killing in Iraq, postpones debate on the questions of energy and health-care policy, confirms an attorney general ambivalent in his statements about torture but clear in his thought that the president on occasion can claim powers not granted by the Constitution, searches diligently for ways and means to protect the home-mortgage industry (i.e., the makers, not the users, of junk and subprime loans)and to reduce to 15 percent of income the tax charged to hedge-fund managers earning upwards of $50 million a year."

IRAQ CIVILIAN DEATH TOLL 151,000

The World Health Organization estimates the Iraq civilian death toll at 151,000, a high cost of efforts to bring democracy to the Middle East.

MORE WIT AND WISDOM FROM LEWIS LAPHAM

AL Gore on why he's not running: "What politics has become requires a level of tolerance for triviality and artifice and nonsense that I find I have in short supply."

Lapham: "In a president they [the oligarchs in finance, pharma, oil, et al] look to find a first-class concierge glad to be of help. Plato referred to the arrangement as oligarchy, a form of government rooted in property qualifications and therefore less confusing than democracy. He distilled the concept into two sentences:

'When wealth and the wealthy are valued in the city, virtue and good men are less valued. What is valued is practiced, what is not valued is not practiced.' "

BERNANKE THROWS IN THE TOWEL

"The outlook for real activity in 2008 has worsened...We stand ready to take substantivfe additional actions [in plain English, cut short term interest rates] as needed to support growth and to provide adequate insurance against downside risks."

Comment: Paul Krugman questions whether Fed rate cuts can do the job. And I recall that my long-ago Money, Currency and Banking instructor, Professor Rice commenting that Fed interest rate cuts are somewhat "like trying to push a string."

The stock market reacted favorably to Bernanke's promise of interest rate cuts.

GIANT WRITE-DOWN IS SEEN FOR MERRILL

Merril Lynch is expected to suffer $15 billion in losses stemming from soured mortgage investments, almost double its original estimate, prompting the firm to raise additional capital from an outside investor...The loss far exceeds the $12 billion hit many Wall Street analysts had forecast....To shore up its deteriorating finances, Merrill is now in discussions with investors in the U.S., Asia and the Middle East, including American private equity firms, to raise about $4 billion in the coming days....In recent months Merrill and several other firms have grabbed financial lifelines from wealthy foreign governments.

From the NYTimes 1-11-08

Comments

    0 of 8192 characters used
    Post Comment

    • moonlake profile image

      moonlake 

      10 years ago from America

      Thanks, for visiting my hub. My yard is in Wisconsin that's where all the animal photos come form

    • Ralph Deeds profile imageAUTHOR

      Ralph Deeds 

      10 years ago from Birmingham, Michigan

      thanks for the comment. It's good to hear that somebody actually read one of my hubs.

      My good friend, former philosophy professor, Bill Cox, pointed out that "Plato rated oligarchy preferable to democracy and democracy prefereable to tyranny." To which I replied that "Plato didn't have the unfortunate experience of living during the Bush administration."

    • MrMarmalade profile image

      MrMarmalade 

      10 years ago from Sydney

      I jumped the gun, as I had the feeling you were talking about one subject, found you were reading headlines with a comment.

      I learnt some things I did not know.

      Thank you

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)