Three And Out For June 9th 2012

Professional Sports Returns To Kansas City: Kansas City hosts the MLB All Star Game Tuesday June 10, 2012.

• Not since 1985 World Series has there been this much professional sports talent in Kansas City for any sport! Enjoy it while it lasts. . .

This Recession Will Last 7 years: According to latest research; when a recession is accompanied along with a financial crisis, it lasts – on average – as long as the preceding economic boom.

• The good news, we are half way through the slump!

Get Paid For Just Showing Up: Phil Mickelson and Tiger Woods missed the cut at the Greenbrier Classic Golf Tournament this past weekend.

• They still got paid $1 Million and $1.5 Million in “appearance fees” by the tournament sponsors. Not bad for playing 2 days of golf.

Silence is golden…

There was a good article, actually I’m sure several hundred at least – but I will reference the one in my local paper the Washington Post, regarding the latest announcement of yet another banned substance scandal.

In it the writer makes the following statement…
“Baseball or the federal government, which seized the list, should release the names of every player who tested positive for a banned substance in 2003, if for no reason than it would clear the names of more than 600 major league players who refused to sully the game or themselves that year. “

In fact, I think we should expand this concept / list to include all sports and reprehensible activity, such as the ones on this NFL crime watch list …

Then, let’s put some teeth behind these lists and make folks accountable. Players should be suspended, without pay, for breaking the rules; if for no other reason to reward those who do honor the game and their god given talent.

The names have changed, but…

Geithner Announces Restructured Bailout Plan
Plan Aims to Aid Banks, Spur Lending, Push Private Investors to Buy Toxic Assets
By David Cho and Lori Montgomery
Washington Post Staff Writers Tuesday, February 10, 2009; 1:10 PM
Treasury Secretary Timothy F. Geithner announced Tuesday morning an aggressive and multi-faceted program that could commit $1.5 trillion or more in public and private funds to rescue banks and financial institutions and thaw frozen credit markets.

WHY?

Well, as much as I hate to admit that anything Microsoft has a hand in, MSN Money had it right weeks ago and, to top it all off; explained in plain simple terms that even I could understand.

Why the bank bailouts are doomed
It’s tempting to believe that more money will fix the messes of our financial institutions. But simple math tells us the system is insolvent, and the solutions are unpalatable.
By Jon Markman
MSN Money

I took the liberty of cut-and-pasting a cliff-notes version below.

Unfortunately, I think the only things that have “changed” with the new administration are the names…

“In the past 12 months, taxpayers, sovereign wealth funds and private investors have sunk $1 trillion into failing U.S. and British financial institutions.

Yet major banks continue to collapse. Why

The math is not complicated. Bank losses from the write-offs of bad loans and busted derivatives tally up to $1.5 trillion so far. In addition, $5 trillion to $10 trillion worth of off-balance-sheet businesses such as structured investment vehicles — leveraged lending vehicles used by big banks to fatten their profits in boom times — are being forced back to banks’ balance sheets by regulators. Rules require banks to keep a base of real shareholder capital amounting to 10% of those funds. So banks need to find up to $1 trillion within the next year to meet that objective.

Add the $1.5 trillion in losses to $1 trillion in needed new reserves, and you can see that banks need as much as $2.5 trillion in new capital to remain solvent under current rules.

In aggregate, therefore, the entire system is simply insolvent, as liabilities are greater than assets. Governments aren’t forcing banks to admit this, but investors are, and that is why big banks’ shares have lost half of their value this year. Governments, meanwhile, are trying desperately to help banks plug the gap, but they’re coming up short. When you add the $500 billion from sovereign wealth funds to the $500 billion from the first tranche of the Troubled Assets Relief Program, it’s only $1 trillion. That’s already been provided. So that leaves a gap of $500 billion to $1.5 trillion.

Because the calculation is so easy — and so devastating — it kind of makes you wonder why the Bush administration created TARP in the first place. But the administration couldn’t do nothing, as that would have been politically unpalatable, so $500 billion has basically bought more time for someone to come up with a better answer. Tick, tick, tick.

You can’t very well have a bankrupt banking system, however, so the market has spent the first three weeks of the new year pricing in the inevitable next step: nationalization of most large banks. The reason is simple: If your owner can print money, you don’t need to keep any reserves. Problem solved.

The new Treasury secretary should stop the charade with the second tranche of TARP money and certainly not contemplate TARP II and TARP III, as has been discussed in Washington. Just nationalize the banks and get on with the next phase rather than pour more money down a hole.

The best course of action, which would have been the most painful in the short term but beneficial in the long term, would have been to force banks to open all their books to regulators and investors, allowing us to see which were solvent and which were not. Then the Federal Deposit Insurance Corp., which is sort of a mini-nationalizer, could have closed the bad banks and merged their assets into strong banks, and we would be halfway through the crisis by now.”

I’ve Been Busy…

Well, it’s the winter of the sports world now. You know the time between the NFL season, March Madness, opening day for Baseball and the start of our fair weather sports such as Golf.
I know, Hockey and the NBA are in full swing, but with hundreds of games to be played before anything really counts, it’s hard to truly get excited.

So, this could only mean one thing… tax season again!

Many of us are faced with the possibility of having to pay money back to the government for taxes we owe. Some of us are lucky enough to be getting tax money back.

Well, I’ve come up with a plan that not only entitles us to never pay taxes again but to stay out of jail too!

Become a public servant who works to form the laws and policies of our cities, states and national government!

The evidence is clear.

Tim Geithner – not paid $35,000 in self-employment taxes for several years
Tom Daschle – did not pay taxes on an additional $83,333 that he earned as a consultant
Nancy Killefer – a $946.69 tax lien on her home for failure to pay unemployment compensation tax on household help

And last but certainly not least…

Former DC Mayor Marion Barry – failing to file his tax returns from 1999 to 2004 – did not file on time in 2005 and has either not filed or failed to file his taxes on time for the eighth time in nine years.

When questioned about this, Mr. Barry said that he had “been busy” working at his job on the council.

Ba-Da-Boom

Ok, It was bound to happen sooner or later; My first attempt at a slightly humoristic, slightly satirical, and slightly sarcastic commentary on the current news.

This weekend the US congress fought over the resolution of Obama’s version of a stimulus and fail-out, oops I mean bail-out, package. They finally came to terms cutting approximately 20% of the package.
Here is a list of cuts; and my take on each…. Ba-da-boom !

Partially cut:
• $3.5 billion for energy-efficient federal buildings (original bill $7 billion)
> We all know the government is never efficient.

• $75 million from Smithsonian (original bill $150 million)
> Come on, the Smithsonian is FREE!!!
> That means it is one of the best economic
> bang for the buck attractions around; even in a recession…

• $200 million from Environmental Protection Agency Superfund (original bill $800 million)
> Well, if we are not going to make the government more efficient
> and save energy, why do we need to protect the resources?

• $100 million from National Oceanic and Atmospheric Administration (original bill $427 million)
> NOAA? But I love all those great and colorful radar pictures,
> satellite views, and long range forecasts. Not to mention
> advanced warnings on hurricanes and other natural disasters!!!

• $100 million from law enforcement wireless (original bill $200 million)
> 50% cut? Either this is the republicans attempt to make them
> more efficient or congress does not have a clue.
> Might as well have cut it all if you really don’t
> want first responders to communicate.

• $300 million from federal fleet of hybrid vehicles (original bill $600 million)
> Makes sense, see (EPA and Federal Building Cuts)…
> Who cares about setting a good example…

• $100 million from FBI construction (original bill $400 million)
> Well, if you are cutting wireless so they can’t “roam”
> where are all these people going to sit?

Fully eliminated

• $55 million for historic preservation
> Goes along with not protecting stuff…

• $122 million for Coast Guard polar icebreaker/cutters
> Since we are not cutting emissions,
> it’s all going to melt anyway…

• $100 million for Farm Service Agency modernization
> Gotta keep those migrant workers employed…
> Oooooo Sorry – not PC.

• $50 million for Cooperative State Research, Education and Extension Service
> Sounds like something to do with education…

• $65 million for watershed rehabilitation
> If we are not going to preserve stuff, and conserve stuff,
> then why bother with rehab?

• $100 million for distance learning
> More education cuts,
> oh and no wireless to support distance learning either…

• $98 million for school nutrition
> So, not only do we not educate better,
> We stop feeding them too?
> Looks like the kids will be packing more lunches…

• $50 million for aquaculture
> What is aquaculture?

• $2 billion for broadband
> No FIOS either?
> And the weather channel just went HD too… 😦
> Hmmmm, What about IPTV, Streaming Movies
> and other large AV content delivery businesses.

• $100 million for National Institute of Standards and Technology
> NIST –
> there’s a pun about government having standards in here somewhere…

• $50 million for detention trustee
> Is this school or federal?

• $25 million for Marshalls Construction
> What is Marshall Constructing?

• $300 million for federal prisons
> Must have meant federal detention…

• $300 million for BYRNE Formula grant program
> Byrne? Gotta look this one up?

• $140 million for BYRNE Competitive grant program
> Baby Burn…

• $10 million state and local law enforcement
> Again with the first responders… Sheeesh.

• $50 million for NASA
> This probably means one less astronaut….

• $50 million for aeronautics
> Isn’t our fleet of planes getting old?
> in need of repair and or replacement?
> I thought building infrastructure was for Planes, Trains, and Automobiles…
> Guess it’s just going to be Trains and Automobiles, oh wait…
> Auto companies are going down the tubes..
> Just Trains I guess.

• $50 million for exploration
> Exploration of what?
> Who needs to explore when we just cut NASA, NOAA,
> Communications, Education and broadband delivery
> for all the information we aren’t going to find out about…

• $50 million for Cross Agency Support
> No wireless,
> No buildings for agency workers,
> OK already, we get the point

• $200 million for National Science Foundation
> Exactly what do they do?

• $100 million for science
> Again with the science.
> Doesn’t matter,
> We will not be going anywhere and exploring either.

• $1 billion for Energy Loan Guarantees
> So more people will not be able to afford heat… Great!

• $4.5 billion for General Services Administration
> Probably a drop in the bucket for them…

• $89 million General Services Administration operations
> If you cut operations, you need less administrators…
> (this almost makes sense!)

• $50 million from Department of Homeland Security
> Again with the security and first responders…
> and cross agency communication.
> Hope no radical groups are looking at this list.

• $200 million Transportation Security Administration
> Well, we already cut the planes and autos,
> so all they need to watch are the trains…

• $122 million for Coast Guard Cutters, modifies use
> With more water, aren’t they going to need more boats?

• $25 million for Fish and Wildlife
> Guess in their minds,
> more water = more room for more fish and more wildlife…

• $55 million for historic preservation
> Wasn’t this the first thing cut?

• $20 million for working capital fund
> Wouldn’t working capital help the economy?

• $165 million for Forest Service capital improvement
> We already covered resource management…

• $90 million for State and Private Wildlife Fire Management
> Ditto…

• $1 billion for Head Start/Early Start
> Queue the music…
> “We don’t need no education…”

• $5.8 billion for Health Prevention Activity
> They probably thought this meant preventing health…
> which would not be a good thing….

• $2 billion for Health Information Technology Grants
> There goes Obama’s electronic medical records project

• $600 million for Title I (No Child Left Behind)
> Sure, building for the future does not mean education…

• $16 billion for school construction
> Unbelievable….

• $3.5 billion for higher education construction
> No worries,
> less of them are going to be smart enough to get into college
> So, you can cut the college loan programs too…

• $1.25 billion for project based rental
> Does this have something to do with the housing?

• $2.25 billion for Neighborhood Stabilization
> No education,
> no first responders communicating,
> no housing…
> no worries about stable neighborhoods?

• $1.2 billion for retrofitting Project 8 housing
> Come on people…. !!!

• $40 billion for state fiscal stabilization (includes $7.5 billion of state incentive grants)
> We bail out bad banks and executives
> but not states being affected by a bad economy?

On Demand

What is worse than a demanding 2 ½ year old?
A 2 ½ year old and “on demand” recording from your cable company. I should probably include any form of recorded media as well including tape and DVD, since we also have these scattered around the house as well.

Perhaps another good phrase for this post is; Good technology in the wrong hands is nothing but a good idea gone horribly wrong.

One of the shows William (our 2 ½ year old) absolutely loves is Blues Clues. Now, this is really a good show. It has won numerous awards, such as; Best Educational TV Show or Series, Outstanding Achievement in Children’s Programming, and even a Peabody Award.

So, what is so bad about Blues Clues? Absolutely nothing!

However, when one has dozens of episodes recorded via on demand (thanks to older siblings), DVD and tape; all of which are easily accessible from a handy remote, push of a button or convenient box; then the demanding 2 ½ year old would like nothing more than to watch Blues Clues every waking moment of every waking day over and over and over again. Of course, when he does not get his way, he throws a horrible fit!

It’s almost as if William thinks he is entitled to it because we have it and he can technically watch it when ever he wants.

Of course we, as good parents, will work with him so that he realizes that he is not entitled to what ever he wants when he wants it. And that throwing a fit is not the proper response.

And this leads me to my next thought….

What ever happened to the good old days when there were no recordings? Shows aired once a week and we all anxiously looked forward to watching the next exciting episode of our favorite show?

You know, “same bat time, same bat channel”.

In fact, though I may be embellishing this just a bit, we would gladly do our chores, homework, and go outside and “be good” all week just so that we would not miss watching our favorite show.

Ah, the good ol’ days….

Ch…Ch…Changes

So, I already got bored with the format of my recently started blog; and armed with a couple conceptual ideas to play with, went looking for images, photos and such to give this blog a facelift.

It’s still a work in progress, but I think it is on the right track.

Along the way I came across some interesting photos. This one is obviously football related and almost looks staged, but isn’t. Outside of the obvious blooper quality of this photo, I was particularly struck by the abundant protective gear, packed stands, and media grabbing advertising 😉

Personally, I think the goal post is better protected than the players…

Here is the original caption to the photo:
Cleveland fullback Tony Adamle finds the goalpost a great offensive weapon as he vainly tries to prevent Dons’ back Walt Clay from scoring a touchdown in a Dons-Brown professional football game, November 25.
With the goal post blocking for him on his left side, Clay hit pay dirt through a big hole in the line. Cleveland won, 31-14, to remain undefeated.

Strangely, the date on the picture said November 27, 1948. I believe that this is actually the publication date. A little bit of research on the net revealed the following about the game and the 1948 Cleveland Browns.

Game Box Recap

Cleveland Browns at Los Angeles Dons Thursday, November 25, 1948

Cleveland Browns (12-0-0) 0 14 17 0 31
Los Angeles Dons (7-6-0) 7 7 0 0 14

LAD Walt Clay 1 yard rush (Ben Agajanian kick) 0 7
CLE Dante Lavelli 49 yard pass from Otto Graham (Lou Groza kick) 7 7
LAD Walt Clay 1 yard rush (Ben Agajanian kick) 7 14
CLE Bob Cowan 17 yard pass from Otto Graham (Lou Groza kick) 14 14
CLE Otto Graham 1 yard rush (Lou Groza kick) 21 14
CLE Lou Groza 36 yard field goal 24 14
CLE Tony Adamle 19 yard rush (Lou Groza kick) 31 14

Regarding the Cleveland Browns Championship Season:

Record: 14-0-0, Finished 1st in AAFC West Division

1948 AAFC Champions
Scored 389 points (27.8/g), 2nd of 8 in the AAFC.

Allowed 190 points (13.6/g), 1st.

Differential of 199 points (14.2/g), 2nd.

Takeaway/Giveaway Differential +13 (0.9/g), 2nd.
Coached by Paul Brown (14-0-0)

And now for the other photo…..
I’ll call this one “what’s wrong with today’s economic vehicle?”