Monday Musings...

(trying to make this a regular event every Monday...)

Politics...Sports...Current Events...Entertainment...Potpourri...it's all here. Chime in anytime.

Current Events
Hurricane Ike was devastating to the Gulf coast, especially the Texas shoreline. Didn't get much rain or wind here in Charlotte, NC -- instead, we got incredible price-gouging at the gas pumps. I got a call late Thursday night from a good friend, saying the word was out that, starting Friday morning, the price of gas would go up up up, and there's also talk of rationing. I didn't agree with my friend; how could there be a problem when the cost of a barrel of oil was back down to $100 and there was no mention of gas shortages anywhere on CNBC or any other business channels, even in spite of the oncoming hurricane? I didn't believe it...until I set out on the road early Friday and saw the long lines at the pumps and the price of gas being .50 to 1.00 higher than what I paid for it only 24 hours earlier. I turned on the local newsradio station to hear that some places were up over $1/gallon. By the afternoon, news was coming in that various suburbs were completely out of gas and people were scrambling. We were now up to $5/gallon in some places and, as I drove past gas stations, there were still lines (at the places that still had gas), and I noticed that people were filling up small portable gas tanks in addition to their cars. Notice was served later in the evening that the state attorney general and the governor were going to investigate price-gouging complaints, but as of this writing, there's still no progress or mention of arrests (I don't know what more proof they needed, but then again, this state's administration is weak at best, so I'm not holding my breath). All this while the national average went up only $.06 at most. It will be interesting to see how fast the local price will come back to prior levels once the hurricane is gone -- I have a strong feeling that the price will take much longer to come down than it did when it went up. And throw in the prediction that no one will be prosecuted for gouging...
Meanwhile, there is the pressure cooker that is the Financial Crisis. On Friday, the word was out that Lehman was aggressively looking for a buyer. By end of business, there was not resolution, but the Feds were now involved and planned to discuss options over the weekend. Uh-oh -- Last time this happened, we lost Bear Stearns. If the Fed works weekends, someone's gonna pay. This morning we hear that Bank of America bought Merrill Lynch, and Lehman filed for Ch 7 BK. We were witness to periodic shots of Lehman employees shuffling out of the building with their work belongings in boxes. Ken Lewis, CEO of BofA, was shown with a happy face, and this was just 6 months after saying he had enough "fun" with investment banks and was no longer interested in acquiring another. Today, he's saying the timing was right and that Merrill is the world leader of investment banks, and that BofA will become the premier world financial leader. Yeah, right. Talk about lipstick on a pig -- he also said that he didn't want Lehman when the Feds said there'd be no arrangement like JPMorgan got with Bear Stearns, but it didn't matter anyway, because this will be a great deal. Ohhhhhhkayy...why do I get the image of Luka Brazzi holding a gun to Ken's head, over a table, saying either Ken's signature or Ken's brains would be on the purchase agreement for Merrill or Lehman? I'm not sayin', I'm just sayin'...

Politics
Didja catch the SNL parody of Palin and HRC? Great stuff -- Tina Fey was golden. The skit hit the morning shows with lots of fanfare, and I even read where Palin once dressed as Tina Fey for Halloween! Talk about life imitating art imitating life...
Well, I see where Obama's camp has finally got it right and is focusing on McCain instead of being distracted by the shiny metal object that is Palin. You won't win if you keep fighting a girl. Only problem I have is that O's camp is issuing press releases that Mac is using dirty tactics and is being unprofessional with lies and mistruths -- dude, get a grip. No one likes a whining crybaby. Try coming out with substance, or do you have anything to offer? Give us some hope with some credible ideas or solutions. Stop with the finger-pointing or you'll lose...to an old man and a GIRL! bwah ha ha! America is getting beat up everywhere (or the perception is that we are), and we need to know if someone has the cajones to roll up sleeves and work this out -- seriously. I'm not saying I'm for one side or the other -- I'm still undecided, but this negative campaigning crap needs to stop. Again, we have candidates that want to bitch at each other instead of offering ideas or solutions, as if they're too scared to play their hand. Maybe there's a method to the madness. Maybe the hand can't be played too soon or else it gives the opposition more time to digest and counter it. Who wins? no one. Who loses? We all do.
Meanwhile, the market closes down over 500 points!!! Where is the damn bottom?? And now I see where Paulsen says the only way to pull us out of this mess is though the housing market. Wait...what? Dude, are you not aware that no one is buying houses right now? There's no reason to buy when everyone is still unsure of their financial future! Don't be waiting for the housing market to bail you out yet AGAIN. Try earning your salary and implement some policies that make sense for the country, long-term and short-term! Popular or not! Americans are tough and will take short-term pain if they know there will be a greater good served down the road. Just like any other sickness, the first and most important step is to admit that you are sick and acknowledge your weakness...