I don't mean this to be a defense of Fox News or an attempt at validating the attacks brought against the company, rather an explanation of my confusion on the subject. It seems to me that the same short sightedness, advocacy and opinion based reporting that appears to corrupt this organization is prevalent in the entire realm of journalism. The idea that one pundit is over the top while another acts within the constraints of decency seems to be directly related to the political affiliation of the administration in office.
Liberal host Keith Olbermann often called former President George Bush a Nazi or any number of other pejorative expressions while conservative affiliates such as Bill O'Reilly labeled Olbermann as unpatriotic or a threat to the American way of life. This idea has been the subject of role reversal as of late: Republican talking heads spout McCarthy era rhetoric while Democrats degrade the necessity and sincerity of protesters.
So why the double standards? Shouldn't political dissent be valued regardless of the administration and their party affiliation? I have addressed the issue of advocacy before in this blog and the topic does not appear to be waning, just simply changing costume. If the government is to be leb by the will of the people, we must identify the information that is rooted in fact and remove all others from our conscience.
Tuesday, October 27, 2009
Tuesday, September 29, 2009
Weather Forecast: Is The Recession Just Beginning?
In a time when foreclosure rates are steadily rising, unemployment tops 10% and the federal administration is drawn into the market of saving business designated 'too big to fail,' are we seeing a crisis in its death throes or the coming maturity of the bastard child of corporate interest and government intervention? Given the current state of affairs in this nation the outcome is hard to forecast, although to refuse the possibility of a savage storm is to deny nature.
The wave of foreclosures that has swept from the Pacific to the Atlantic might be primed to make a more devastating return trip across the country, rather than dissipate in the shallow waters of the East Coast. The same factors that eroded the foundation of the residential mortgage sector is fast at work in the commercial real estate industry as well.
High-risk commercial loans causing negative amortization, a period where the mortgage payment doesn't cover the interest produced and the principal of the loan actually increases, are coming to term now and over the next few years, resulting in the foreclosure of large industrial properties and strip malls alike. The damage done to the economy from this development can only be imagined at this point, but once the swell is formed you can only clear its path.
Despite the severity of the matter, this is not the only cloud on Americas economic horizon. After amassing a substantial budget surplus over the past decades, Social Security (SS) will operate at a deficit of $10 billion for 2009 and $9 billion for 2010, a situation not seen since the 80's. Although payments will not be interrupted for recipients, the looming disaster for SS is the coming of age of baby-boomers, a demographic that will cause the system to pay out more benefits to retirees than taxation from the workforce currently provides, eventually depleting its reserves and becoming a financial liability for the government, requiring whatever administrations lap it falls in to make sweeping policy changes: disbanding the SS system, increasing tax rates or some compromise of the two.
In addition to these tropical storms approaching hurricane status, rumblings in the international marketplace regarding currency reserves could be the catalyst that starts a chain reaction. On the heels of Iranian President Mahmoud Ahmadinejad's announcement that Iran would conduct the calculation of its oil reserves in euros instead of American dollars, World Bank President Robbert B. Zoellick commented on the development, saying:
"The greenback’s fortunes will depend heavily on U.S. choices,” Mr. Zoellick said. “Will the United States resolve its debt problems without a resort to inflation? Can America establish long-term discipline over spending and its budget deficit?” (1)
The change in currency could signal a general distrust in the future and stability of the American economy, an outlook that many would be advantaged to consider rather than the fair winds and following seas that are commonly spouted from your evening weatherman.
(1) Andrews, Edmund L., September 28, 2009
"World Bank Head Sees Dollar's Role Diminishing," New York Times
The wave of foreclosures that has swept from the Pacific to the Atlantic might be primed to make a more devastating return trip across the country, rather than dissipate in the shallow waters of the East Coast. The same factors that eroded the foundation of the residential mortgage sector is fast at work in the commercial real estate industry as well.
High-risk commercial loans causing negative amortization, a period where the mortgage payment doesn't cover the interest produced and the principal of the loan actually increases, are coming to term now and over the next few years, resulting in the foreclosure of large industrial properties and strip malls alike. The damage done to the economy from this development can only be imagined at this point, but once the swell is formed you can only clear its path.
Despite the severity of the matter, this is not the only cloud on Americas economic horizon. After amassing a substantial budget surplus over the past decades, Social Security (SS) will operate at a deficit of $10 billion for 2009 and $9 billion for 2010, a situation not seen since the 80's. Although payments will not be interrupted for recipients, the looming disaster for SS is the coming of age of baby-boomers, a demographic that will cause the system to pay out more benefits to retirees than taxation from the workforce currently provides, eventually depleting its reserves and becoming a financial liability for the government, requiring whatever administrations lap it falls in to make sweeping policy changes: disbanding the SS system, increasing tax rates or some compromise of the two.
In addition to these tropical storms approaching hurricane status, rumblings in the international marketplace regarding currency reserves could be the catalyst that starts a chain reaction. On the heels of Iranian President Mahmoud Ahmadinejad's announcement that Iran would conduct the calculation of its oil reserves in euros instead of American dollars, World Bank President Robbert B. Zoellick commented on the development, saying:
"The greenback’s fortunes will depend heavily on U.S. choices,” Mr. Zoellick said. “Will the United States resolve its debt problems without a resort to inflation? Can America establish long-term discipline over spending and its budget deficit?” (1)
The change in currency could signal a general distrust in the future and stability of the American economy, an outlook that many would be advantaged to consider rather than the fair winds and following seas that are commonly spouted from your evening weatherman.
(1) Andrews, Edmund L., September 28, 2009
"World Bank Head Sees Dollar's Role Diminishing," New York Times
Thursday, September 17, 2009
Main Stream Media?
The usage of media blackouts seem to have gained in popularity as of late, replacing adamant denial with outright claims of ignorance. As reference, a recent undercover video of two individuals, posing as pimp and prostitute, received advice on how to evade taxes, legitimize an illicit business, obtain home loans, etc. from employees of the community organization ACORN. This incident would be small time at best, but considering that 40% of ACORN revenue comes from government funding, a person could easily expect headline news, although there was little beyond the broadcasts of Fox News.
The emphasis here is not on the short comings of competition or to lavish praise on a successful news outlet, rather the intentions of each side. Why would some groups ignore a breaking news story while others would trample one another to be first in line? The simple answer is motive: agencies tend to marginalize subjects viewed as damaging while approving of those that are profitable.
But here is where there is confusion: if an agency holds stock in 'truth,' the organization is obligated to follow it where it may lead, regardless of the implications it may reveal. So why is there hesitation on the part of some if a story is truthful? The answer of course is that the agency does not hold interest in 'truth,' but rather in advocacy. The honesty of a subject is often disregarded if the outcome is not in line with the agencies policies.
The end result is this: if we gain our information from sources that take pride in advocacy in lieu of honesty, the conclusions we make will be the culmination of ideological entrenchment as opposed to a firm grip on reality.
The emphasis here is not on the short comings of competition or to lavish praise on a successful news outlet, rather the intentions of each side. Why would some groups ignore a breaking news story while others would trample one another to be first in line? The simple answer is motive: agencies tend to marginalize subjects viewed as damaging while approving of those that are profitable.
But here is where there is confusion: if an agency holds stock in 'truth,' the organization is obligated to follow it where it may lead, regardless of the implications it may reveal. So why is there hesitation on the part of some if a story is truthful? The answer of course is that the agency does not hold interest in 'truth,' but rather in advocacy. The honesty of a subject is often disregarded if the outcome is not in line with the agencies policies.
The end result is this: if we gain our information from sources that take pride in advocacy in lieu of honesty, the conclusions we make will be the culmination of ideological entrenchment as opposed to a firm grip on reality.
Thursday, August 27, 2009
Financing
http://tinyurl.com/mth2b2
Administration raises 10-year deficit to $9 trillion
http://tinyurl.com/mbdjc6
February promise to cut deficit in half by end of first term
Let me begin this post by defining a budget deficit. If you decide to spend more money this month than you take in, you would be operating in a budget deficit. Although risky, these actions do have a place in business and personal life; we've all floated a check due to low balance or moved a debt onto credit cards to hold off payment till a later date. The choice of deficit is not necessarily right or wrong, but rather the outcome of circumstance.
The more important consideration of 'wise or foolish?' with these actions is often tied to the principal of the loan and the amount of time the debt will be outstanding. In the instance of a mortgage payment, needing money for groceries, etc., it is easy to understand the plight of the person in need, but when the debt is nearing the Gross Domestic Product and the term of the loan is in the parlance of generations, the ethical weight of the decision is increased exponentially.
Without making judgments as to the value of the myriad programs subsidized by the Federal government, it is still possible to look at the math of the subject objectively. The debt is simply too much.
The operation of all administrations during recent times have bought into the ideal of credit lines and payment deferral. When dealing with such an outlook the answer to the question of 'if' an entity will fail is obvious, the more intriguing inquiry is 'when?'
Administration raises 10-year deficit to $9 trillion
http://tinyurl.com/mbdjc6
February promise to cut deficit in half by end of first term
Let me begin this post by defining a budget deficit. If you decide to spend more money this month than you take in, you would be operating in a budget deficit. Although risky, these actions do have a place in business and personal life; we've all floated a check due to low balance or moved a debt onto credit cards to hold off payment till a later date. The choice of deficit is not necessarily right or wrong, but rather the outcome of circumstance.
The more important consideration of 'wise or foolish?' with these actions is often tied to the principal of the loan and the amount of time the debt will be outstanding. In the instance of a mortgage payment, needing money for groceries, etc., it is easy to understand the plight of the person in need, but when the debt is nearing the Gross Domestic Product and the term of the loan is in the parlance of generations, the ethical weight of the decision is increased exponentially.
Without making judgments as to the value of the myriad programs subsidized by the Federal government, it is still possible to look at the math of the subject objectively. The debt is simply too much.
The operation of all administrations during recent times have bought into the ideal of credit lines and payment deferral. When dealing with such an outlook the answer to the question of 'if' an entity will fail is obvious, the more intriguing inquiry is 'when?'
Tuesday, August 25, 2009
A Short Introduction
I am of the firm belief that before any validity can be given to the opinions of an individual, a modest amount of information should be provided to give the reader some form of insight into the motivations and character of the writer, so without further ado, a bit about myself:
I was born and raised in Danville, Kentucky where I attended public school until graduation in the year 2000. After completing my high school education the undertaking of entering the industrial workforce was had, but to no avail. After several attempts at different means and methods of production were made, the realization that factory work would not be acceptable was clear.
One year after entering the work force an impasse was reached and the decision to join the military was made. I do not intend to elaborate on the particulars of this period of my life due to experiences with prejudgment and detectable changes in the demeanor and dispositions of those I converse with, suffice to say that I weigh the knowledge gained during this time heavily and if presented the option of a second attempt at life, the course would be traveled in much the same way.
My political views have been fiercely independent and sometimes rather unconventional. I refused to vote in the past two elections out of protest, the idea that not voting invalidates any opinion of the non-voter seeming a bit absurd. I don't believe much in the simplicity of labels, for once a thing is labeled it can be discriminated against, its arguments misrepresented or the worst case scenario, its ethical tenants can be turned into sound-bites, reduced to fragments of ideology that are easily refuted.
Having made myself known, I look forward to providing opinions and different perceptions on the current actions of our political system. The wealth of information and the rate at which it is released is daunting, but I will make a humble attempt.
I was born and raised in Danville, Kentucky where I attended public school until graduation in the year 2000. After completing my high school education the undertaking of entering the industrial workforce was had, but to no avail. After several attempts at different means and methods of production were made, the realization that factory work would not be acceptable was clear.
One year after entering the work force an impasse was reached and the decision to join the military was made. I do not intend to elaborate on the particulars of this period of my life due to experiences with prejudgment and detectable changes in the demeanor and dispositions of those I converse with, suffice to say that I weigh the knowledge gained during this time heavily and if presented the option of a second attempt at life, the course would be traveled in much the same way.
My political views have been fiercely independent and sometimes rather unconventional. I refused to vote in the past two elections out of protest, the idea that not voting invalidates any opinion of the non-voter seeming a bit absurd. I don't believe much in the simplicity of labels, for once a thing is labeled it can be discriminated against, its arguments misrepresented or the worst case scenario, its ethical tenants can be turned into sound-bites, reduced to fragments of ideology that are easily refuted.
Having made myself known, I look forward to providing opinions and different perceptions on the current actions of our political system. The wealth of information and the rate at which it is released is daunting, but I will make a humble attempt.
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