New School Politics

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The evidence.

Including 2008, since 1976 every presidential election has featured a lefty at the top of the ticket except for 2004 (which did include a lefty at the bottom of the Democratic ticket in John Edwards).

Save for Carter and the second Bush, every president since Gerald Ford has been left handed, and the next president will be left hand dominant as well (because both McCain and Obama are lefties), which will make five of seven left-handed presidents.

Meanwhile, only about one in nine of the total population are southpaws. The linked article tries to explain this seemingly unexplainable trend.

Regardless, I never cease to be amazed by how awesome we lefties are…

Popularity: 22% [?]

Not unexpectedly, there has been a sufficient amount of crowing from the left about the need for more financial regulation in light of the credit crunch. Their reasoning seems to encompass little more than the idea that deregulation or underregulation was the source of our current problems (which makes even less sense when you consider that there is no significant repeal in mortgage or lending laws to my knowlege).

This essay, however, directly refutes that idea:

The most striking fact about the ongoing financial mayhem is that it is concentrated not in lightly regulated hedge funds but in more heavily regulated commercial and investment banks. It is banks that created subprime mortgage securities. It is banks that mispriced them. And it is banks that filled their own coffers with this toxic paper, losing hundreds of billions of dollars. A somewhat breathless March 31Financial Times article proclaimed the closing of the worst month for hedge funds since the collapse of the infamous Long Term Capital Management in 1998. But the average fund tracked by the Chicago-based firm Hedge Fund Research declined by a mere 2.4 percent in March, bringing the cumulative fall for the first quarter of 2008 to 2.7 percent. By contrast, the bank-heavy financial services component of the S&P 500 fell 12.3 percent in the first quarter.

Hedge funds, for the most part, have weathered the storm remarkably well.

Simply put, if underregulation was the problem we would logically see worse performance from hedge funds than investment banks seeing that hedge funds are relatively unregulated financial vehicles.

While I blame the present problem on years of overly exuberant credit expansion by the Fed, I think it is an economic mystery why loose credit disproportionately funded a bubble in the mortgage market versus any other area of the economy (in the same way that it is mysterious why technology was overextended in the late ’90s). Put simply, we do not know why the mortgage markets bore the brunt of the Fed’s policy, but hopefully we can at least be resolved to do two things: a) not let the central banks devalue our money to the extent they have been doing this decade and b) avoid government bail-outs participants in these financial markets, which will create the same incentives to make bad investments that cause the problem in the first place.

Popularity: 50% [?]

According to new polling data from Gallup, “Among people who identified themselves as Hillary Clinton supporters, 28 percent said they would vote for McCain if Obama is his opponent, the March 7-22 Gallup Poll Daily election tracking survey found. The same poll found that 19 percent of Obama supporters would switch sides and cast ballots for McCain if Clinton is the Democratic candidate.”

It is clear that both candidates are slowly bleeding the Democratic party of both moral and finances. The DNC, which was set to trample the RNC last year is now also torn apart by the parties infighting. This also comes on the news that Democratic Majority Leader Harry Reid has said DNC superdelegates are working towards a solution to end the party divide. What this back door deal will look like, no one but insiders can be sure. However, if we can value his word then it appears that the Democratic party is not going to allow the race to be resolved through traditional democratic principles or via the popular vote. Many Democrats have already claimed that such backdoor dealing will anger them and possibly drive them away from the nominee if their candidate is not the beneficiary of such compromise. In any case, the Democrats seem to have driven themselves into a dreadful situation.

Popularity: 28% [?]

From Foxnews.com

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WASHINGTON — Three U.S. lawmakers made a trip to Iraq that was secretly financed by Saddam Hussein’s intelligence agency during the run-up to the U.S.-led invasion, federal prosecutors said Wednesday.

An indictment unsealed in Detroit accuses Muthanna Al-Hanooti, a member of a Michigan nonprofit group, of arranging for the members of Congress to travel to Iraq in October 2002 at the behest of Saddam’s regime.

Prosecutors say Iraqi intelligence officials paid for the trip through an intermediary, and that Al-Hanooti received 2 million barrels of oil for his role.

At the time, the Bush administration was trying to persuade Congress to authorize military action against Iraq.

None of the lawmakers in question was charged and Justice Department spokesman Dean Boyd said investigators “have no information whatsoever” any of them knew the trip was underwritten by Saddam.

The lawmakers are not named in the indictment but the dates correspond to a trip by Democratic Reps. Jim McDermott of Washington, David Bonior of Michigan and Mike Thompson of California.

McDermott spokesman Michael DeCesare told FOX News his boss did not know Muthanna Al-Hanooti and “would not have gone” had he known who paid for the trip to Iraq in the fall of 2002.

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Follow the link here for the rest of the story

Popularity: 29% [?]

An interesting article from the Christian Science Monitor (via realclearpolitics.com) discussing the slow but inevitable emergence of the European Super State.

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LONDON - You might want to take that vacation in England just as soon as you can – before its 1,000-year run as a sovereign nation comes to an end.

This winter, 27 nations of the European Union (EU) signed the Treaty of Lisbon. You may think, “Innocuous enough,” as Portuguese-inspired visions of the Tagus River and chicken piri-piri swirl before your eyes.

But for England (Britain, actually) the Treaty of Lisbon isn’t that appetizing. That’s because, if ratified, it will become the decisive act in this creation of a federal European superstate with its capital in Brussels. Britain would become a province and its “Mother of Parliaments,” a regional assembly. And that’s no small humiliation for a country that gave the world English and saved Western civilization in the Battle of Britain in 1940.

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Click here for the rest of the article

Popularity: 26% [?]

In an interview with the Daily Breeze, Ferraro said, “If Obama was a white man, he would not be in this position. And if he was a woman (of any color), he would not be in this position. He happens to be very lucky to be who he is. And the country is caught up in the concept.” Unlike most people who seem to apologize immediately after injuring the sensibilities of either the Obama or the Clinton campaign, she is battling the media in an attempt to explain what she meant. Whether or not this works out for her in the end we will only know in hindsight, but despite the offensive nature of her comment, there is some truth to what she has said.
The Daily Breeze reports that she went on to say, “Any time anybody does anything that in any way pulls this campaign down and says let’s address reality and the problems we’re facing in this world, you’re accused of being racist, so you have to shut up,” Ferraro said. “Racism works in two different directions. I really think they’re attacking me because I’m white. How’s that?”
Perhaps one of her more notable comments was, “In all honesty, do you think that if he were a white male, there would be a reason for the black community to get excited for a historic first?” Ferraro said. “Am I pointing out something that doesn’t exist?”
As a Clinton supporter, she raised another point that many women often point out; “Sexism is a bigger problem,” Ferraro argued. “It’s OK to be sexist in some people’s minds. It’s not OK to be racist.”
Perhaps what Ferraro said that was not reported by the Daily Breeze is most telling; on today’s O’Reilly factor she said,
“If I were not Geraldine Ferraro, if I were Gerard Ferraro in 1984, there is no way I would have gotten the nominee for vice president.”

It is evident that much of the excitement around Hillary Clinton’s campaign has to do with her gender; it should be equally evident that part of the excitement behind Obama’s campaign is because of his gender. Anyone who argues that his race has nothing to do with his success must not be aware that he received 9/10 black votes in Mississippi; if he were not of African descent that would not happen and he would have lost the race in Mississippi too Hillary Clinton who one every other demographic. Let us not pretend that race and gender do not play a role in this election, anyone who is that ignorant obviously has no respect for the long history of discrimination against African-American’s or women and does not comprehend the suffering and oppression that both groups suffered and in many instances still bravely face. Barrack Obama is not an experienced executive, or even an experienced legislature. However, he (in part because of his race) gives hope to millions of people who’s ancestors were oppressed and for that reason they feel a connection to him; while people should vote based on issues, many do vote based on racial, gender, or ethnical identity.

I do not condone the way in which Ferraro made her statement, she denigrated Obama by not giving him credit for tapping into a previously unexploited collective consciousness for “hope and change,” or for his oratory and forensic abilities. Despite this, for the Obama campaign to claim foul every time someone mentions the fact that their candidate is not of Western European decent is in itself racist and absurd. Obama cannot take 9/10 black votes and claim that race has nothing to do with his campaign (also did anyone else notice his slight southern accent when campaigning in SC and Mississippi?). On the same note, how can Hillary, who has commented about the “all boys club” and made other obvious complaints about her gender attempt to distance herself from Ferraro?
Ferraro seems to be the only Democrat willing to stand up to the double standards that both the Obama and Hillary campaigns espouse. It is about time some others do the same.

Popularity: 32% [?]

In his first victory since Democratic Rival Hillary Clinton’s big wins in Ohio, Texas, and Rhode Island, Barack Obama won the Wyoming Democratic Caucus. Although the state has only 18 delegates, the victory is substantial for Obama in terms of media appearance. The Clinton campaign, long marked for its talent at spin, has been lauding their recent victories as a “change in momentum,” for the campaign. Despite Obama’s more forceful presence in the state (opening up 5 offices to the Clinton campaign’s 2), the Clinton campaign put much energy in trying to prevent a victory, sending both the Spouse (Bill) and the Spawn (Chelsea) into the state on Thursday. However, Obama’s early presence seems to have paid off, with a 23 percent lead over Clinton, and a seven delegate gain. However, this win is just a stop on the way to the more significant competition in Pennsylvania in April.

Popularity: 30% [?]

In pretty big international news, Fidel Casto has announced the he does not plan to seek another five year term as President of Cuba.  The Christian Science Monitor has more.

“I will not aspire to nor accept – I repeat, I will not aspire to nor accept – the post of President of the Council of State and Commander in Chief,” read a letter that appeared early Tuesday morning in the Community Party daily Granma.

Popularity: 28% [?]

A very significant piece of news from the ForeignPolicy passport blog.

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Turkey preparing for ground invasion of northern Iraq
Mon, 02/18/2008 - 2:00pm
Turkish newspaper Today’s Zaman reports:

The Turkish Armed Forces (TSK) is preparing for a comprehensive ground operation into northern Iraq against the terrorist Kurdistan Workers’ Party (PKK) organization, expected to take place in spring.

The TSK is currently developing its strategy for the operation, which will most likely be launched in the middle of March. The ground operation is planned to be the final strike against the terrorist organization.

Wow! The final strike! Cocky military they’ve got there in Turkey.

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Popularity: 27% [?]

I thought this was a pretty funny article from CNN. In 1973 during Kissinger’s visit to China, Chairman Mao offered to give America up to 10 million Chinese women. Of course, back then Mao was already dealing with a population problem-but simply the idea of the proposition is so absurd, and according to Kissinger’s account, it was so blunt, that the whole exchange sounds like something from a political satire rather than history. I suppose it proves the old saying that truth can be stranger than fiction.

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“WASHINGTON (AP) — Amid a discussion of trade in 1973, Chinese leader Mao Zedong made what Secretary of State Henry Kissinger called a novel proposition: sending tens of thousands, even 10 million, Chinese women to the United States.”

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You can find the whole article here at CNN.com

Popularity: 26% [?]