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January 28, 2008
SOtU - We're in Tense Times

CNN's morning headlines talk about roadside bombings killing yet more USofA soldiers, the DOW is down another 67 points (so far) today, having lost over a thousand points in the last month, foreign markets continue to sweat (and drop) over the impending R-word in the USofA economy and Bush's upcoming State of the Union address is going to be about pork.

Did the White House tell the press to focus on this ridiculous non-issue in their 'news' coverage leading up to the speech or is this just another sign that the USofA "press" is a bunch of idiots?

Note:

Republicans are expected to use earmarking as an issue against Democrats in the 2008 elections.

Because, yeah, that's what a populace watching their economy slide into recession, their futures into poverty, and their soldiers into graves will turn up in the voting booths to care about. Pork.

And that's what the SOtU should be about--laying groundwork for partisan politics six months from now.

I can never decide who's crazier--the Bush Administration or "the press" that gives us such stupid headlines and distorted coverage of stories.

I mean, okay, the Right is hoping that they can distract us all from recession and death by thundering about government waste. It's a dumb idea, but they don't have a lot of choices. Why, though, is any reputable "news" outlet playing along and helping them to set the stage?

Moving on, I know I said, six or seven years ago, that if we all wanted to get rich and didn't mind being evil, we'd invest in defense stocks. And, you know, companies about to be enriched by our new policy of stealing oilfields in the Middle East.

But there's a bit in the article I don't understand.

Government-owned oil companies are increasingly taking control of fields by hiring companies such as Halliburton under management contracts rather than letting producers such as Exxon Mobil Corp. operate projects.

We have government-owned oil companies? In this country? Can anyone point one out to me?

Brief markets article:

The President is giving his State of the Union Address this evening, but the big event this week is the FOMC meeting (Jan. 29-30) which will culminate in a policy announcement Wednesday afternoon around 14:15 ET.

It's normal for a lame-duck president to be, well, a lame duck, but he's got 11 months to go. Should he be this irrelevant already?

I'm not complaining because he's being shunted to the side. I'm complaining because it didn't happen four, or even eight, years ago.

Posted by AnneZook at 08:53 AM


Comments

Have you been back for long? I hate to think I was missing you all this time for nothing! Glad to find you again, which I did via Avedon.

Posted by: eRobin at January 28, 2008 01:56 PM

I'm not back. ;) Just the occasional post because I read some "news" headline or other that makes my blood pressure rise.

But thanks for the welcome--and I have to go say "howdy" to Avedon as well, I see.

Posted by: Anne at January 28, 2008 03:04 PM