Consumer Confidence Drops Like a Rock

From Reuters via ABC News – the “unexpected” news:

…The group’s index of consumer attitudes fell to 52.9 in June from a downwardly revised 62.7 in May. The June figure was sharply below the median of forecasts from analysts polled by Reuters…

Happy talk from banksters and bureaucrats only goes so far…and then people see their home values continue to drop, unemployment remains high and essentially everything going to economic heck in a hand basket. Reality is just setting in.

Tuesday Morning Open Thread

Sorry for the light blogging, everyone – I’m on a “stay-cation” this week and thus am spending time with the Mrs and friends getting as much fun as you can in a town like Las Vegas…which is, of course, quite a lot.

I’ll try to have something good for you later today.

Liberal-Fascists Seek Ways to Retain Gun Ban

They seem rather upset the people of Chicago may obtain the means of self defense – from the Associated Press:

A Supreme Court ruling finding that Americans have the right to bear arms anywhere they live almost certainly means the end of Chicago’s decades-old handgun ban but may not make handgun ownership there much easier.

Mayor Richard M. Daley says city officials have been looking at various measures they could implement to make owning a handgun difficult and that he plans to quickly put the measures before the City Council…

Translation: “But we don’t want an armed population.” Armed populations tend to irk big government types as there may yet come a point where government has become so big and corrupt that a pistol shot might prove necessary as a corrective. Daley doesn’t want any of that – that could just open up the door for more demands on matters of personal liberty, and no liberal ever want to be in the position of helping liberty. Just too difficult.

A Bit of a Chinese Economic Hernia

Tyler Durden over at Zero Hedge reports the bad news from China:

The debate of China’s double dip may have just been sealed after the “Conference Board corrected its April gauge for the outlook of China’s economy, saying its leading index for the country rose the least since November, rather than registering the biggest gain in 14 months. The gauge compiled by the New York-based research group rose 0.3 percent, less than the 1.7 percent gain reported on June 15.” Ignoring for a second the fact that such massive swings in amplitude imply either a malicious data misrepresentation intent or weapons grade stupidity, the second derivative in Chinese growth has now peaked, just at the time when the country for whatever optically political reason decided to unpeg its currency. We are now looking forward to the official rescinding of that decision, and a resumption of the peg…

That is rather amazing, isn’t it? Not just a small adjustment, that – its like a night and day difference in the data. Normally, I’d like to think this represents weapons grade stupidity, but I’m concerned that economic data might be manipulated these days. At any rate, manipulated or not this news beat the heck out of Asian stocks in Tuesday trading, while at this time (2:34 am EDT), US stock futures are in the dumpster. Might be a long day on Wall Street.

But even if this is shrugged off or masked by happy talk from other areas, its going to be a long year or two for everyone.

The Man Who Couldn't Give Up His Blackberry…

might have the power to kill the internet for all of us?

Obama will be handed the power to shut down the Internet for at least four months without Congressional oversight if the Senate votes for the infamous Internet ‘kill switch’ bill, which was approved by a key Senate committee yesterday and now moves to the floor.

The Protecting Cyberspace as a National Asset Act, which is being pushed hard by Senator Joe Lieberman, would hand absolute power to the federal government to close down networks, and block incoming Internet traffic from certain countries under a declared national emergency.

Despite the Center for Democracy and Technology and 23 other privacy and technology organizations sending letters to Lieberman and other backers of the bill expressing concerns that the legislation could be used to stifle free speech, the Senate Homeland Security and Governmental Affairs Committee passed in the bill in advance of a vote on the Senate floor.

So, what are your thoughts?

US Warships Off Iran

So says this story:

As unconfirmed reports of an imminent Israeli strike on Iran’s nuclear facilities pick up steam in the Middle Eastern media, a US-based strategic intelligence company has released a chart showing US naval carriers massing near Iranian waters.

The chart, published by Stratfor and obtained by the Zero Hedge financial blog, shows that over the last few weeks a naval carrier — the USS Harry S Truman — has been positioned in the north Indian Ocean, not far from the Strait of Hormuz, which leads into the Persian Gulf. The carrier joins the USS Dwight D. Eisenhower, which was already located in the area. The chart is dated June 23, 2010…

I’m not so sure about this – Obama has proven so incredibly weak about Iran that I find it hard to believe he’s suddenly found the back bone to act. On the other hand, a successful military strike against Iran could repair some of his public image, thus helping him and his Democrats heading in to the fall (hate to think he’s use a strike for such political purposes…but we have precedent in the form of Clinton’s egregiously deflective military action in 1998 at the time of th Lewinsky/impeachment scandal).

An alternate view is that Obama has actually stationed assets in the area to discourage Israeli action – you know, make it look like we’re going to act so the IDF stands down, and then do nothing while Iran feverishly completes its first nuclear weapon.

Finally, I think that an outright military offensive, unless we’re convinced that Iran is literal days or weeks from an operational weapon (and “operational” doesn’t mean just having one – but having one, plus the swift ability to make more coupled with a proven delivery system) is not the way to go. If we’ve got any time, at all, we should first rather quietly impose a blockade against gasoline shipments to Iran – Iran imports a very large percentage of its gasoline. If that doesn’t get their attention, then we go for a full blockade, destruction of Iran’s limited refining capacity and only as a last resort bomb the known and suspected nuclear sites.

We’ll have to see how this comes out.

Another Recession Warning

Pretty good read on the state of the economy, in my view, from Hussman Funds. Do read the whole thing, but to nutshell it – the leading economic indicators are essentially predicting a recession, with only one particular indicator (the Purchasing Managers Index) not quite in line with everything else. It will be, though – just wait a bit.

Taking a look at the history of these things, John Hussman figures we’ll bottom out in stocks about a year from now, in employment near the end of 2012 (sorry about that second term, Barry, but thems the breaks) and housing some time in 2014. This is pretty much what I’ve expected – though I lack the analytic skills to put perception in to strong argument. Hussman does it very well.

So, we’re heading that way and it will be pretty bad. For the most part, there’s no way around this. We’ll just have to deal with it.

Robert C. Byrd, Corrupter of American Politics, RIP

We are not supposed to speak ill of the dead and I do try to hold to that, but as I clicked on the news this morning and saw alleged Republican Orrin Hatch lauding Senator Byrd, I began to be outraged. It is not a heroic thing for Byrd to have served in the Senate since 6 years before I was born – it is absurd. In addition to that, what Byrd did while Senator was a criminal betrayal of the American ideal.

Think I’m being harsh? Here’s a list of some of the things Byrd had named after himself (from Citizens Against Government Waste):

Robert C. Byrd Drive, from Beckley to Sophia (Byrd’s hometown)

Robert C. Byrd National Technology Transfer Center at Wheeling Jesuit University

Robert C. Byrd Highway

Robert C. Byrd Federal Correctional Institution

Robert C. Byrd High School

Robert C. Byrd Freeway

Robert C. Byrd Center for Hospitality and Tourism

Robert C. Byrd Science Center

Robert C. Byrd Health Sciences Center of West Virginia

Robert C. Byrd Cancer Research Center

Robert C. Byrd Technology Center at Alderson-Broaddus College

Robert C. Byrd Hardwood Technologies Center, near Princeton

Robert C. Byrd Bridge between Huntington and Chesapeake, Ohio

Robert C. Byrd addition to the lodge at Oglebay Park, Wheeling

Robert C. Byrd Community Center, Pine Grove

Robert C. Byrd Honors Scholarships

Robert C. Byrd Expressway, U.S. 52 near Weirton

Robert C. Byrd Institute in Charleston

Robert C. Byrd Institute for Advanced Flexible Manufacturing

Robert C. Byrd Visitor Center at Harpers Ferry National Historic Park

Robert C. Byrd Federal Courthouse

Robert C. Byrd Academic and Technology Center

Robert C. Byrd United Technical Center

Robert C. Byrd Federal Building (there are two)

Robert C. Byrd Hilltop Office Complex

Robert C. Byrd Library and Robert C. Byrd Learning Resource Center

Robert C. Byrd Rural Health Center

Robert C. Byrd Clinical Addition to the veteran’s hospital in Huntington

Robert C. Byrd Industrial Park, Hardy County

Robert C. Byrd Scholastic Recognition Award

Robert C. Byrd Community Center in the naval station, Sugar Grove

Robert C. Byrd Clinic at the West Virginia School of Osteopathic Medicine

Robert C. Byrd Biotechnology Science Center at Marshall University

Byrd doesn’t deserve a eulogy – he deserved flogging. By his oily political gamesmanship he helped to corrupt America. He turned the office of a Senator in to the Office of a Crook…using taxpayer money to pay off cronies, build monuments to himself, and bribe his own people.

Bryd’s fate is now decided – God will judge him with absolute justice. As with all people, I pray he obtains salvation in spite of his sins. But let’s not fool ourselves – never forget that Byrd did continual disservice to our nation and played a huge role in the moral, economic and political corruption of our society.

UPDATE: According to West Virginia’s vacancy laws, there will be a special election in November to fill the remainder of Byrd’s term. Can’t think of a better way to honor him than to ensure a Republican takes his seat.

Elena Kagan Confirmation Hearings

The dog and pony show of Kagan’s confirmation hearings start today – though the WSJ does report there is that slight chance the GOP can derail her:

Republicans are keeping the option of a filibuster on the table as Elena Kagan’s Supreme Court confirmation hearings get underway this week.

Sen. Jeff Sessions (R., Ala.) the highest-ranking Republican on the Senate Judiciary Committee, on Sunday said a filibuster could happen “if things come out to indicate she’s so far outside the mainstream.”…

Which information is, of course, already out there – she’s a far left ideologue who has no judicial philosophy. All she has is a slavish devotion to whatever is fashionable on the left. If one moment its the fashion to oppose military recruitment because of don’t ask/don’t tell while the next moment you have to welcome gay-hating Sharia law, then that is all in a days work for someone, like Kagan, who has resigned her ability to think.

I think we should filibuster her – its not like Democrats will have held the practice sacred. Heck, they passed ObamaCare essentially by ignoring the filibuster rule, so under Democrat precedent, everything goes…and Kagan needs to go. She’s free to wreck Harvard all she wants – but we don’t need her on the SC, wrecking all of America.

UPDATE: According to Rasmussen, 42% oppose Kagan, 35% favor.

Toronto: A Failure of Liberalism

John Hinderaker over at Powerline reviews the rioting and vandalism and the complete unwillingness of the police to stop it and asks, “why do we have police?” A valid question, to be sure. Why have police if they’re not going to stop a riot?

And one, for which, actually know the answer.

The reason the cops aren’t moving seriously against the rioters is very simple – you do that, and you’ll get in trouble. The liberal narrative is that the thugs running amok are just kind, caring people who want to save the world – club a few of them in to submission and you’re going to have nothing but trouble. Reports to fill out. Investigations to endure. Possible loss of job. Just not worth it – better to just let them do their thing and then supervise the clean up after its all over.

Other stories are emerging that the police in Toronto are taking a harsh stance against one group of people – the reporters in Toronto who are informing the world both of the riots and the lack of police response to same. Allowing that to happen would upset the apple cart – meaning, if you get a story out there that creeps are rioting and cops aren’t stopping it, then that could be used to force the police to do something. And that, in turn, runs the very risk the cops don’t want to run…taking action which might get them in trouble.

The plain fact of the matter is that no one ever has a right to riot. No one has a right to block public thoroughfares. No one has a right to vandalize public or private property. People who do such things have placed themselves outside the law and if they don’t stop, after a clear warning and very short time frame, they are subject to a violent response from the authorities – up to and including deadly force as the police shouldn’t have to place their own lives unduly at risk to stop people who are acting quite insane in the public square.

But liberalism doesn’t allow such things – doesn’t allow, that is, the rational conduct of public business. First liberalism will create a fantasy world where some nefarious group (in this case, the leaders of the G20) are wrecking the world. Second, liberalism will write a script which has it that the authorities are always wrong. Third, liberalism will marshal the entire weight of publicity against anyone who reacts properly to a riot. Toronto’s riots are the natural outgrowth of the liberal world view – any place long under liberal governance will see the same thing happening; riots and lack of police response.

Those of us who care about civilization and the average, hard working people who live in it must take a different view. We must recover a willingness to see things as they are and react to them based upon thought – and as soon as you think about it, you realize that the primary victims of the rioters are average, work-a-day people who actually make society work. It is they whom society is supposed to be built for – not for people who want to smash things.

We need to work for a society where the honest and hard working rule the roost – not the dishonest layabouts who riot at the drop of the hat.