Cake or Death: Chris Matthews, round II

Al Gore says global warming is YOUR fault!
"He betrayed this country! He played on our fears!"
You don't say...

September 18th, 2007

Fed Cuts Benchmark Rate Half Point, Seeking to Forestall Recession in U.S. - "The Federal Reserve lowered its benchmark interest rate by a half point to 4.75 percent, the first cut in four years, to protect the U.S. from sinking into a recession sparked by fallout from the housing-market collapse. 'Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets,' the Federal Open Market Committee said in a statement after meeting today in Washington. The central bank will 'act as needed to foster price stability and sustainable economic growth.' Stocks surged, two-year Treasury notes rose and the dollar fell to a record low against the euro. The larger-than-forecast reduction suggests Chairman Ben S. Bernanke is prepared to leave himself open to criticism that he's rescuing investors from bad decisions for the sake of saving the six-year expansion."
U.S. Producer Prices Drop More Than Forecast; Foreclosures on Homes Double - "The 1.4 percent decrease, the biggest since October, followed a 0.6 percent increase in July, the Labor Department said today in Washington. So-called core prices, which exclude fuel and food costs, rose 0.2 percent after a 0.1 percent gain the month before. Slower inflation gave policy makers room to cut their benchmark rate today in an effort to sustain the expansion in the face of a housing recession. A drop in fuel expenses pushed prices down in August and cooling economic growth will continue to restrain raw-material costs, economists said."

September 14th, 2007

U.S. Retail Sales, Output Rise Less Than Forecast, Adding to Rate-Cut Case - "The 0.3 percent increase in sales during August followed a revised 0.5 percent gain in July, the Commerce Department said today in Washington. Purchases excluding automobiles unexpectedly fell 0.4 percent. Production gained 0.2 percent, with factory output declining for the first time since February. While a report from the University of Michigan and Reuters Group Plc showed consumer confidence increased, their sentiment index remained near the lowest level in a year. Treasury notes rallied after the retail sales and production reports, before losing the gains."

September 13th, 2007

Greenspan Says He Didn't Foresee Credit Rout, Endorses Bernanke, CBS Says - "Current Fed Chairman Ben S. Bernanke 'is doing an excellent job,' Greenspan said in an interview on the 60 Minutes program, according to excerpts e-mailed by CBS today. The show is scheduled to air on Sept. 16, a day before the publication of Greenspan's book, 'The Age of Turbulence.' The remarks come amid criticism among some investors that Bernanke has failed to be as forceful as his predecessor in responding to financial turmoil. Greenspan in 1998 cut interest rates three times after a Russian debt default rippled through global markets. Bernanke's Fed has refrained from lowering its benchmark so far, relying on other tools to provide liquidity."
Commercial-Paper Market Decline in U.S. Slows as Concerns Over Credit Ease - "U.S. stocks rose and Treasuries fell after the Federal Reserve reported short-term debt dropped by $8.2 billion, compared with a decline of $31.3 billion a week earlier. That coincided with Countrywide Financial Corp. obtaining new financing and banks finding buyers for loans to fund Kohlberg Kravis Roberts & Co.'s buyout of Alliance Boots. Issuers with the biggest chance of default had stopped trying to sell commercial paper, rekindling appetite for short- term debt, said Tony Crescenzi, chief bond market strategist at Miller Tabak & Co. in New York. 'Investors have already pushed out the weakest issuers,' Crescenzi said in an e-mail. 'The commercial paper that remains is a relatively more respected crop.'"

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Name: jwookie

Location: Temecula, California, United States

I'm just a normal guy who was trying for medical school and ended up in finance. I'm not quite sure how I got here, but there aren't alot of hippie tree-huggers in finance, so I might stick around for a while. Other than that I'm spending time with my wife and dog, working out at the gym, sports (baseball mostly, but I'll settle for basketball and football), reading, music, and more. In the end, my free time isn't very free, so I'll probably do most of my posting from work. Hopefully they think all that typing is me actually working.

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Thursday, November 18, 2004

Chris Matthews, round II

Chris just keeps dropping these gems right on the doorstep (that's two in one week. He's going to get a cramp if he keeps this pace). How can you not just shake your head and pity him and his ilk (via Say Anything).

SCHEUER: He's after a change in policies which he views as lethal to Muslims --

MATTHEWS (Interrupts): Does he think, for example, let me try this -- and I don't want to sound like an apologist -- but suppose we had truly an evenhanded policy in the Middle East. Suppose there was a Palestinian entity of some kind, and it had reasonable borders, and it was contiguous enough to be a working state, and we didn't back dictators like the Saudi Royal Family and people like that who are simply selling the oil to keep their fingers filled with rings and girlfriends in London, all right? Suppose we were a good country and an evenhanded country, all right? Would that make it any less hostile to us?

SCHEUER: We are a good country, sir.

I don't know... the "suppose we were a good country" line kind of makes me wonder exactly what planet the man is from. Free Iraqis, free Afghanis, and dead terrorists seems like a win, win, win situation to me. I'm glad Scheuer caught the line and responded, many would have missed it in the heat of debate and let it pass right on by.

UPDATE: See Secure Liberty's take on this as well:

Liberalism has become a self-mocking contradiction, a farce. Chris Matthews says that brutal murderers who would virtualy enslave millions of Iraqis and oppress women among other things just have a disagreement with us? How is that progressive? How is that liberal? Does the avoidance of war trump everything? Does it trump basic human decency?

Apparently, Republican's compassionate conservativism has taken over for the pacifist, socialist Democrats while they're on leave for severe mental health issues.

Link to me! Posted by jwookie : 7:15 PM

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