The plans for a open loop lng terminal were dropped after Gov Riley (R) objected on environmental concerns
TORP Technologies planned to build the terminal 63 miles south of Mobile and offered up to $30 million to the state to deal with any potential damage to sea life created by its "open-loop" process of heating the natural gas. But in a statement released Thursday afternoon, Riley said the process could create too many problems.
It seems to me that they can throw all the money at the banks to loosen up the credit logjam they want, but with so many people with maxed out credit cards, home equity/second mortgages that are at or significantly above the value, government using our homes as a money making machine, and people driving cars that they are upside down on, the economic problems won't start easing until we have more money in our pockets to spend on things other than necessities.
will be the only one lining up at the Federal bailout trough?
Nope, Jefferson County's (the county Birmingham is located in) disaster of a sewer debt (no, it didn't come about because of the credit crunch) is leading Jefferson to consider declare bankruptcy.
"Riley also has asked the interim head of the Treasury Department's $700 billion bailout to help Alabama's most populous county avoid filing the largest municipal bankruptcy in U.S. history."
Governor Riley (R) is suggesting that the county's sewer trouble which has been ongoing for a few years now
""the single biggest threat to the municipal bond market today and a poster child for how the subprime mortgage crisis is hurting Main Street.""
One of the alternative's being suggested is using part of the 1% sales tax for education to bail out the sewer system.
Kind of appropriate, don't you think?
Another thing that is funny to me is the MSM's desire for "home rule" in Alabama, but loath it as a national model despite it being the original intent of the Constitution
By the way, how are those bond debts that Phenix City floated doing?
"Ebersol and Michaels debuted their show, which was intended to attract the 18-to-34 age demographic. "
And then we look at the recent results and their stated targets
special appearances by recent Emmy winner Tina Fey (for “30 Rock”), reprising her role as Republican VP candidate Gov. Sarah Palin, and Queen Latifah, as debate moderator Gwen Ifill. The telecast averaged a 7.4 rating, 18 share in metered-market households, up 42 percent versus the 5.2/12 for last season’s fourth original on November 3, 2007.
"“Saturday Night Live” premiered two weeks earlier this season than in recent years, an unprecedented scheduling move designed to take advantage of intense interest in the 2008 election campaign. NBC will continue to tap into this year’s heightened political interest with “Saturday Night Live Weekend Update Thursday,” a series of primetime editions that debuts this Thursday at 9:30 p.m. ET and will run for three weeks, and “Saturday Night Live Presidential Bash 2008,” which will feature vintage and new material showcasing “SNL’s” presidential satire, airing at 9:30 p.m. Monday, Nov. 3, the night before the election."
Mike Rogers (Al, R, 3) is emphasizing his experience with 6 years in Congress while his opponent for his job, Josh Segall, said "what ki(n)d of experience they want. He said Rogers has not done enough to help create jobs in the east Alabama district despite his experience."
I have to agree with Mr. Segall on part of statement, "What kind of experience"
As for "create jobs", I don't find that anywhere in the U.S. Constitution, nor do I find it in the enumeration of Federal powers.
I also have to say that Mike Rogers is considered a "rank and file" Republican. I've found from reading the DownTown Columbus Paper over the years that "experience" often means the ability to bring home pork. Congressman Rogers has demonstrated a willingness to vote for pork and a " you scratch my back, I'll scratch yours" attitude in voting.
Either candidate is welcome to object in a unedited post without my snide comments....at least in that post
A pox on both their houses. I'll probably sit out this election
Mark to market Mark-to-market is an accounting methodology of assigning a value to a position held in a financial instrument based on the current market price for the instrument or similar instruments. For example, the final value of a futures contract that expires in 9 months will not be known until it expires. If it is marked to market, for accounting purposes it is assigned the value that it would currently fetch in the open market. Even if there are currently no buyers.
MTM is being blamed for many of the stock market problems and IF (so the theory goes) it is eliminated, there would be less problems.
Does the definition of Mark to market sound familiar?
It should. It's the same theory that is used in setting your property taxes.
It doesn't matter if you're not selling.
It doesn't matter if there are no buyers.
Maybe we need to use another method to figure the property tax....like the original purchase price and only take into account a "true" increase when it's sold.
that the Democrats will come out against a "capital gains tax" increase now?
Why now, Chuckie?
Nobody really has any after the spectacular drops in the market. They could say "they feel the pain" of the middle class investors.
By the way, why doesn't a bright local news media type do a story on how property taxes are holding up in the face of the huge losses in property values and why?
I know I have my theories. One that some would think to be flawed
I'm against having to pay rent on property you supposedly own to the government in the first place, I think that the so-called sticker shock for a reappraisal every four years is a good thing. Sort of like having sales tax to pay for everything government does--The reality of how much the government is taking on a increasing basis sinks in.
But
When houses languish on the market for lack of buyers at a desired price, the property taxes would come down far slower then they went up. In other words, if your neighbors houses don't sell at the "new" price level. Or as I noted about GF's house, if somebody is stupid enough to pay near (or substantially above, as happened when GF sold because the buyer wanted the down payment paid by the seller. That artificially inflated the selling price and had an upward effect on property taxes) market while most other houses languish in the neighborhoods, you won’t see much effect on the property taxes.
By the way, aren't you glad you didn't listen to Mayor Jeff Hardin and the local "collective we" of the media and vote to raise your property taxes for "The Children"?
Update: NBC says they removed it for editing because, If I understand it right, they were scared Herb Sandler and his wife Marion who sold 24 billion dollars worth of subprime mortgages to the now defunct Wachovia would sue them
This is the edited version
Of course that doesn't explain (Supposedly, NBC.com has been deleting questions about the skit from message boards.)
A further update via The Instapundit
But a comparison of the two versions shows that actually a little more than that was cut. What also was excised was any mention of the involvement of Massachusetts' Rep. Frank in the Sandler subprime mess.
Frank is the influential chairman of the House Financial Services Committee and an ardent political protector of Fannie Mae and Freddie Mac, which participated in the subprime problem.
In the original skit Sandler addresses Frank, saying, "And thank you Congressman Frank as well as many Republicans for helping block Congressional oversight of our corrupt activities."
To which Frank replies enthusiastically, "Not at all!"
on the "over the limit" credit card donations made to the Obama campaign by contributors such as Hbkjb, jkbkj,,,,Doodad, and others.
Those donations make me wonder who is trying to circumvent (read "break") the law.
It couldn't be that hard for the U.S. Justice department to find out who holds those cards. And that makes me wonder why Justice isn't trying to find out instead of forcing Obama to return the donation.
Because the Bureaucrats that run the government are in the tank for Obama and the Democrats?
Or, are they afraid of being accused of racism like everybody else is if they criticize him?
Reminds me of when I worked at Fort Benning and we had to buy hundreds of pencils, batteries, and other items that we already had plenty of so that we could ask for more money from the next budget
"Bill Heard Enterprises Inc., the nation's largest Chevrolet dealer, filed for bankruptcy protection Sept. 28, blaming a "perfect storm" of problems that began last year including high gas prices, lower demand for trucks and sport utility vehicles and the credit crunch. "
I know more about this than most, and there was a lot more to it than that, but it fits with what was the point of the story, so, right or wrong, in it goes.
about voter fraud (which seems to a democrat exclusive this cycle), questions about Ayres, the Annanberg Challenge ACORN & Obama, Democrat foreign policy initiatives, it's still more questions about who is trying to buy the election for Obama and why won't Obama release his whole campaign contribution data base like McCain? Something to hide?
"Mr. Good Will - who lists his employer as "Loving" and his profession as "You" - has contributed 1,000 times to the Barack Obama campaign.
All the contributions have been in amounts of $25 or less. But they add up to $17,375 - far more than the legal limit of $4,600. That's $2,300 each for the primary and general election campaigns."
Meanwhile, much of mainstream media providing coverfire for Obama sends a reporter to try to determine if Palin actually could see Russia with her own eyes
that we'll break even or maybe even make a profit on the bailout?
I just heard Rep Maxine Waters (D) fairly salivating at the prospect of "owning" Sallie Mae, Freddie Mac and those "bad" (subprime loans). She said we can then adjust the principle and the interest to keep people in their homes.
I really don't think that you people are thinking about what will happen when we have a left leaning Democrat Congress and President.
said that even if he wanted to ban guns, he didn't have the votes.
It's not about the votes, we win when it comes to that.
It's about the judges that he will appoint and a Democrat majority will confirm that should scare the crap out of you.
We know that he tries to intimidate opponents by using the courts and representatives of the law.
And we know that he is getting massive donations from unknown sources, large amounts of it are coming from overseas sources that might have issues with our Constitution. And this is just to get elected
"Similarly, a donor identified as “Pro, Doodad,” from “Nando, NY,” gave $19,500 in 786 separate donations, most of them for $25. For most of these donations, Mr. Doodad Pro listed his employer as “Loving” and his profession as “You,” just as Good Will had done.
....
Until recently, the Obama Web site allowed a contributor to select the country where he resided from the entire membership of the United Nations, including such friendly places as North Korea and the Islamic Republic of Iran."
By the way, I thought all spending bills had to originate in the House? At least, Mike Rogers won't have to change his vote since he already voted aye before all the goodies.
I see that both Senator Shelby and Senator Sessions voted "no" to the turkey dinner
1. Don't look for your credit card debt to disappear or your credit line to increase
2. Don't look for a drop in oil prices until the we are in the throes of a full blown recession.
3. Don't look for your home equity loan to disappear.
4. Don't look for the value of your home to increase to the point of getting more money from #3 to pay #1
5. Don't look for your mortgage payment to decrease. At least, not if you're one of the responsible borrowers.
6. Don't look for food prices to drop. See 2
7. Don't look for your already crushed beacon (credit) score to improve without some effort on your part.
8. Don't look to be approved for a 200k house on a 35k income
9. Don't look for car sales to magically increase
10. Don't look for a merry Christmas for retailers. They might get credit to get holiday stock but the consumers maxed their credit card last year living beyond their means and can't pay the debt off because they have already maxed out their home equity line.
Do you think that if "they" had not invoked anti-gouging laws (price fixing) and let the price of gas reach "you got to be kidding" level, we wouldn't hear
"Severe fuel shortage grips parts of US southeast "
"In one indication of the trend, a motorist at one gas station filled not only his tank but also a tin can and a one gallon milk bottle just to be certain he would not run out."
On the bailout collapse and the drop in stock prices, a self fulfilling prophecy
Do you think that if "the powers that be" predict the end of the economic world unless they get their bailout a week ago that when the bailout fails that there wouldn't be a run on the economic system?
As one person said, if they tell you something has to be done immediately, that it's a one time, limited offer, and YOU HAVE to do it, it's a good time to go fishing.
Can't get a loan for that college education? Good let the market set the price of the education instead of the consumer being at the mercy of a rigged game.
By the way, did you notice that 95 Democrats voted against the measure?
Makes you wonder if Democrats were voting their principles or maybe they noticed the Republicans were being blamed and figured they didn't want the problem to go away anytime soon. And it is unlikely that the MSM will be pointing out that 40 % of the Democrats voted against it. Nope, the MSM be to busy blaming the Republicans
Alabama
Aye AL-1 Bonner, Jo [R]
Aye AL-2 Everett, Terry [R]
Aye AL-3 Rogers, Michael [R] Nay AL-4 Aderholt, Robert [R]
Aye AL-5 Cramer, Robert [D]
Aye AL-6 Bachus, Spencer [R]
Aye AL-7 Davis, Artur [D]
Personally, it looks to me like the very ones who are demanding that we IMMEDIATELY give them a potload of money as the only way to fix what is broke in the financial market that will utterly collapse last week without it are the same ones who were either so dumb or so benefiting from the system that they didn't sound the alarm when it would have done some good.
Take a good look at the names above from Alabama. They are the ones who control the nations purse strings.
Would the Democrats have been any better? Of course not, and probably worse as we will most likely see. But that is a piss poor argument to justify voting for mostly porkers listed above.
Rogers (Al,R,3rd) vs Segall (D) on the subject.
Rogers ""It was an imperfect bill, but I believed it was the right thing to do despite my serious reservations about it. I can only hope my concerns about serious economic peril will be proven wrong, and hope Congress will soon return to work to create another bipartisan solution to address our economic challenges," Rogers said. "
Which roughly translates into I didn't like the bill..
I didn't think it was a good bill.
But thought I'd vote for it anyway because we had to do something even if I was wrong
And I hope that Pelosi will forgive us and allow us to join in another attempt."
I don't like Rogers vote. Heck, most everybody knows I'm a knee jerk libertarian who feels that you let the markets work.And I don't like the though of moving to a central planning bureau like we were part of the Soviet Union
Segall said
"Segall said he didn't believe the financial bailout plan did enough to help homeowners and other average Americans. "
which I translate into "we didn't get to stuff it like a Thanksgiving turkey"
their bailout of the irresponsible financial institutions with the crowing of "The final version of the bill included a deal-sealing plan for eventually recouping losses; if the Treasury program to purchase and resell troubled mortgage-backed securities has lost money after five years, the president must submit a plan to Congress to recover those losses from the financial industry. Presumably that plan would involve new fees or taxes, perhaps on securities transactions."
Now, what does this really do?
Some would say that it protects the taxpayer and other residents of the U.S. from the costs of the bailout.
Actually what this does is protect the government's revenue stream.
What is the mantra?
Businesses don't pay taxes, the consumer of their products do.
That means the government won't lose any money, but the final consumer of the financial institution's products will pay these new "fees or taxes" as they trickle down
"But the Southeastern gas shortage has become serious enough that Crimson Tide and Georgia Bulldog supporters who are going to the game aren't just worried about whether their team can come back in the fourth quarter, but whether they can come back after the game."
Now the good news: Gasoline is flowing through the pipeline again, but excessive topping off is causing a problem.
We were lucky this time. The next disaster may seriously damage refineries or pipelines causing a very severe disruption in supplies and distribution.
It's time to reconsider those anti-gouging laws.
When you control price, you encourage use of a scarce commodity which exasperates supply problems. But will you listen?
No!
And you know what happens when government tries to control prices? The Alabama PSC might be an example
Another warning. You need to start considering how we will handle energy assistance for the poor. Besides my suggestion for lock boxes on thermostats and food.
Otherwise, the taxpayer will find themselves subsiding what is unthinkable as long as we are tied to gasoline; helping pay for someones vehicles energy.
By the way, you do know that we have to drill for natural gas?
2's long time friend and fishing partner, Ben, Goat Roper, Mcguire has passed.
He commented a few times on the site and was mentioned frequently on the early redneckin here at idlehourwebs. One of the posts on this version of redneckin concerned the "oak snake"
Looking at China's latest problems with adulterated milk, do you think that it's only the tip of iceberg? Do you think that they would use lead based paint if it was cheaper? Do you think they would use carcinogenic fillers for toothpaste, makeup,or any other product?
Think that they would use unapproved pesticides on clothing or personal items?
Probably a safe bet they would. After all, if they would willing contaminate baby formula to increase profit, they are capable of most any thing.
Hell, let the limp-wrist crowd get married. They get a couple of divorces under their belt like me and they might start to wonder if it was such a good idea after all.--Chuck Myguts
One of the advantages of being disorderly is that one is constantly making exciting discoveries. -- A. A. Milne
You can shoot the tiger, or stay out of his way, but you cannot pronounce him a vegetarian. -- Richard Mitchell
"War is an ugly thing, but not the ugliest of things. The decayed and degraded state of moral and patriotic feeling that thinks that nothing is worth war is much worse. The person who has nothing for which he is willing to fight, nothing which is more important than his own personal safety, is a miserable creature and has no chance of being free unless made and kept so by the exertions of better men than himself." .... John Stuart Mill.
The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government. -- Thomas Jefferson
It is the besetting vice of democracies to substitute public opinion for law. This is the usual form in which the masses of men exhibit their tyranny. -- James Fenimore Cooper
"Immigration is not a right guaranteed by the U.S. Constitution to everyone and anyone in the world who wishes to come to the United States. It is a privilege granted by the people of the United States to those whom we choose to admit." --- Barbara Jordan
The powers not delegated to the United States by the constitution,nor prohibited by it to the states, are reserved to the states respectively, or to the people.-- AMENDMENT 10 Bill of Rights Constitution of the U.S.
Necessity is the plea of every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves. -- William Pitt
Without education we are in a horrible and deadly danger of taking educated people seriously. -- Gilbert Keith Chesterton
Never regret. If it's good, it's wonderful. If it's bad, it's experience. Victoria Holt.
It is seldom that any liberty is lost all at once. -- David Hume
What I've learned about boxing? Not to lead with my face.---Chuck Myguts
I aint't got just skeletons in my closet. I have the whole dang graveyard--Chuck Myguts
The common good comes before the private good. -- Nazi slogan
The devil can cite Scripture for his purpose. -- William Shakespeare
A society that puts equality...ahead of freedom will end up with neither equality nor freedom. -- Milton Friedman
It is the fundamental theory of all the more recent American law...that the average citizen is half-witted, and hence not to be trusted to either his own devices or his own thoughts. -- H.L. Mencken
What,Me Worry? Alfred E. Neuman
..the Bill of Rights does not come from the people and is not subject to change by majorities. It comes from the nature of things. It declares the inalienable rights of man not only against all government but also against the people collectively. -- Walter Lippmann
"The first thing a man will do for his ideals is lie." -- J.A. Schumpeter
Mystical references to "society" and its programs to "help" may warm the hearts of the gullible but what it really means is putting more power in the hands of bureaucrats. -- Thomas Sowell