Thursday, July 14, 2005

Bill Frist:  The World's Worst Investor   In 2000, Republican Senator Bill Frist invested $1,000,000 of his campaign funds in the stock market, and in so doing, he offered an example of why it would be folly to invest Social Security funds in the market.  His campaign donors probably imagined that money might actually go toward the campaign to re-elect Frist.  It didn't.  It was disappearing in the stock market at a rate which topped out at $160,000 in a single month.  Frist defended this irresponsible use of his supporter's money by saying, "Over time, money that is placed in markets will increase faster than placed in banks."  This venture into economic theory inspires me to recall the thoughts of another economic thinker, John Maynard Keynes, who said, "In the long run, we are all dead."  Just how much of the million has survived Bill Frist's entrepreneurial adventures?  $290,000.  There's no chance that the million will be recouped, either, because he's using the tatters of that million now to cover routine political expenses. 6:29:50 PM    comment []

Michigan GOP Trying to Stop McCain   In an effort to prevent Republican Senator John McCain from winning the Michigan primary in 2008 as he did in 2000, GOP officials there are making plans to change the voting system.  Whether to simply close the primary, preventing independents and Democrats from voting in it, or to change the system back to a caucus, as Michigan had back in 1988, when Pat Robertson made a strong showing there, is still under discussion.  Obviously, the party won't allow voters to play any role in the decision...they want to get away from elections decided by mere popular support. 4:43:21 PM    comment []

America to Bush:  Phooey   Two new polls came out today, and despite the rally-around-the-flag effect of a terrorist attack on our closest ally, the President’s approval numbers remain in the cellar, at 49% and 46%.  And in the truest measure of what the people think of the President's performance, only 31% of Americans believe the country is on the right track, with only 21% of independents and 11% of Democrats feeling that way.  The American people also reject the theory that the war in Iraq makes terrorism less likely, with two-thirds of Americans naming the Iraq war as the likely cause of the London bombing.  And there is little enthusiasm for Bush to appoint a conservative judicial activist to the Supreme Court, with an equal proportion of the American people wishing Bill Clinton were to make the appointment as Bush. 11:41:13 AM    comment []

Rehnquist Watch   Chief Justice Rehnquist is in the hospital.  He's old, and he's got a fever.  He's still not resigning.  Deal with it.  I heard someone yesterday say that all of America's prayers are with the Chief Justice.  That may be so, but to judge by the right-wing blogs and columns, a lot of conservatives' prayers are that he die. 10:07:21 AM    comment []

Quote for the Day, 7/14/2005   "Do you not know that King Kong the first was just three foot six inches tall? He only came up to Faye Wray's belly button! If God could do the tricks that we can do He'd be a happy man!"   -Peter O’Toole (Eli Cross), The Stunt Man 6:56:41 AM    comment []