Tuesday, September 30, 2008
The government of Iceland figured out how to re-capitalize a major distressed bank without dumping worthless assets on the taxpayer.
"Americans don't have enough money to pay their mortgages."
More on the disastrous legislation
Truth be told, I only managed quickly to review the front end of the bill that fortunately went down yesterday. Here is an absolutely essential piece on the bill's back end, explaining some of the most puzzling financial news of the last couple of weeks:
Congress Didn't Dare Say Yes: What Wall Street Hoped to Win
Counterpunch -- By PAM MARTENS
Truth be told, I only managed quickly to review the front end of the bill that fortunately went down yesterday. Here is an absolutely essential piece on the bill's back end, explaining some of the most puzzling financial news of the last couple of weeks:
Congress Didn't Dare Say Yes: What Wall Street Hoped to Win
Counterpunch -- By PAM MARTENS
But the most duplicitous and frightening aspect of the plan, as always, was to found, buried in the back of the document, located there in the hopes everyone would have fallen asleep from the legalese before they made it that far. There’s the innocuous sounding Section 128, which was in both the original and amended versions, and says simply: "Section 203 of the Financial Services Regulatory Relief Act of 2006 (12 U.S.C. 461 note) is amended by striking 'October 1, 2011' and inserting 'October 1, 2008.'"Anyone have any doubts left about for what this bailout was intended? Tom Allen, are you listening?
What would this effectively do? It was intended to speed up the enactment of this section of the law from 2011 to this week.
And what is the impact of the change in this law? (Take a moment to let this sink in.) This wonderful bipartisan bailout proposal, negotiated into the wee hours of the morning by sleep-deprived members of Congress was designed to come with a furtive Trojan Horse embedded by Wall Street lawyers. Banks already in trouble for lack of capital would get to hold as little as "zero" capital for transactions.
But it does solve one giant mystery. All of Wall Street has been attempting to understand why firms like Goldman Sachs and Morgan Stanley, who have concentrated on mergers, acquisitions, stock and bond underwriting for more a cumulative 212 years, decided in a heartbeat to enter the bean counter world of retail banking and transform into bank holding companies. (That’s like asking General Motors to retool overnight for washing machines.) Now we know. Effective this week, if this bailout proposal would have passed in its current form, these firms would have had a new best friend at the Fed that was going to let them hold zero reserves for transactions. No wonder the stock of both firms sold off yesterday when Congress rejected the plan: Goldman closed down 12 per cent; Morgan down 15 per cent.
Rationales interesting and revealing
As I reported yesterday, Representatives Michaud and Allen split on the bailout, Michaud being against, Allen for. A Bangor Daily News story today quotes each on the rationales for their votes:
It's not that I think there is no problem, or that Congress should not act. I just think the Paulson approach is rash, stupid, and dangerous. The bill fails to do the things necessary to keep the economy from falling off the metaphorical cliff. Sure, it would open a taxpayer floodgate into Wall Street for a former Goldman Sachs CEO to manage as he pleases. But look, they won't pass an unemployment/health/jobs bill (see HERE), they won't help individuals with bankruptcy and foreclosure (which would have a MAJOR positive effect on the crisis), they won't even discuss surcharges on millionaires or any sort of revenues to help pay. The "oversight" in the bill was a joke. And, it's hard to know, but the amount of junk the taxpayer could go on the hook for (multiple times the $700 billion) could threaten the US Treasury itself.
CALL MIKE and thank him. I'm afraid that from what I see in Tom Allen, it's too late for him.
As I reported yesterday, Representatives Michaud and Allen split on the bailout, Michaud being against, Allen for. A Bangor Daily News story today quotes each on the rationales for their votes:
Rep. Mike Michaud: I voted against the Wall Street bailout bill because it provided largely unchecked authority to the Treasury Department to spend $700 billion of taxpayers' money without adequate safeguards.Mike gets it from the working class perspective. Tom is drenched in the decptive Bush-Democratic-leadership "mushroom cloud" rhetoric. My opinion is that it's unconscionable to pass this in a rush with "worst since 30s" fear mongering in the lead. Mike has working class sensibility on this. There is more time to work out solutions more favorable to the working class, and yes, much much MUCH more "punitive" to Wall Street.
Rep. Tom Allen: It is unconscionable that the House failed to reach consensus on legislation to stabilize financial markets as America stands on the brink of the worst economic crisis since the 1930s. ... The jobs, the savings, the homes, the educational opportunities and the retirement security of millions of Americans are at risk.
It's not that I think there is no problem, or that Congress should not act. I just think the Paulson approach is rash, stupid, and dangerous. The bill fails to do the things necessary to keep the economy from falling off the metaphorical cliff. Sure, it would open a taxpayer floodgate into Wall Street for a former Goldman Sachs CEO to manage as he pleases. But look, they won't pass an unemployment/health/jobs bill (see HERE), they won't help individuals with bankruptcy and foreclosure (which would have a MAJOR positive effect on the crisis), they won't even discuss surcharges on millionaires or any sort of revenues to help pay. The "oversight" in the bill was a joke. And, it's hard to know, but the amount of junk the taxpayer could go on the hook for (multiple times the $700 billion) could threaten the US Treasury itself.
CALL MIKE and thank him. I'm afraid that from what I see in Tom Allen, it's too late for him.
Monday, September 29, 2008
I hate to have to post this
Tom Allen is breathtakingly stupid
Maine 1st District Representative Tom Allen voted for the Wall Street bailout. In doing so, he voted for the biggest economic hosing the President George W. Bush Administration has ever devised. In doing so, he said Republican policies are okay, the policies of Susan Collins are okay after all, and the taxpayer just cleans up Republican messes. The vote said he even approved the top Bush henchman to be in charge.
Candidate Tom Allen could have made some hay against Senator Susan Collins by taking a real stand against her and Bush that the ad suggests he does. Alas, no. No alternative ideas from Tom. He joined the rush to approve the Bush economic takeover. Shameful.
Update: What Gerald said. I just got through listening to Nancy Pelosi and Barney Frank repeat mantras of the phrase "protect the taxpayer" in a replay from the afternoon Capitol news conference. Who are they kidding? It's pathetic. (Gerald also pointed me to THIS very interesting report on the Treasury conference call for bailout analysts. What's happening inside is not reflected on the outside, that's for sure.) Meanwhile, here is Gerald's litany of Tom Allen's failing "Mr. Niceguy" program:
Tom Allen is breathtakingly stupid
Maine 1st District Representative Tom Allen voted for the Wall Street bailout. In doing so, he voted for the biggest economic hosing the President George W. Bush Administration has ever devised. In doing so, he said Republican policies are okay, the policies of Susan Collins are okay after all, and the taxpayer just cleans up Republican messes. The vote said he even approved the top Bush henchman to be in charge.
Candidate Tom Allen could have made some hay against Senator Susan Collins by taking a real stand against her and Bush that the ad suggests he does. Alas, no. No alternative ideas from Tom. He joined the rush to approve the Bush economic takeover. Shameful.
Update: What Gerald said. I just got through listening to Nancy Pelosi and Barney Frank repeat mantras of the phrase "protect the taxpayer" in a replay from the afternoon Capitol news conference. Who are they kidding? It's pathetic. (Gerald also pointed me to THIS very interesting report on the Treasury conference call for bailout analysts. What's happening inside is not reflected on the outside, that's for sure.) Meanwhile, here is Gerald's litany of Tom Allen's failing "Mr. Niceguy" program:
It's a pretty serious indictment. We can add "not challenging the bailout when doing so was a perfect opportunity to re-energize voters for his candidacy--especially in Mike Michaud's district." Shameful, shameful, shameful.
- Not challenging Collins as she cried, "Victim!" to the MoveOn.org ads.
- Not hammering Collins on her record of not investigating the fraud, theft and malfeasance that has defined the reconstruction of Iraq (a total that is not far from $700 billion).Not challenging Collins as she cried, "Victim!" to the MoveOn.org ads.
- Not hammering Collins on her record of not investigating the fraud, theft and malfeasance that has defined the reconstruction of Iraq (a total that is not far from $700 billion)
- Not challenging the lies of the anti-union and anti-EFCA ads until it was too late
- Not hammering Collins on her votes for the AUMF Iraq, the USA Patriot Act, tax cuts for the super wealthy, against habeas corpus protections (and explaining their import), retro-immunity for the telecoms that illegally spied on millions of Americans, and confirming to the SCOTUS John Roberts and Sam Alito.
Maine 2nd District Rep in majority blocking taxpayer hosing in Wall Street bailout
Representative Mike Michaud, despite tremendous pressure from Democratic leadership, came down today on the side of working people everywhere by joining a 228-205 majority against the deceptive, rush $trillion Wall Street bailout bill. I deeply thank Congressman Michaud and hope he has the guts to stand against the backlash of traders who had their salivation for taxpayer money dashed today, tanking the Dow by 777 points.
The basic effect of the bill would have been to create a financial czar out of Paulson. Paulson would have been authorized to operate "on such terms and conditions as are determined by the Secretary, and in accordance with this Act and the policies and procedures developed and published by the Secretary." He would have had virtually dictatorial authority over "TARP," a "Troubled Assets Relief Program"--save for an extremely weak oversight board stuffed with inside people and a toothless Inspector General empowered to write reports.
This is being fashioned as a lose-lose proposition for Democrats. No matter that the opposition was more Republican than Democrat, as I expected, the blame is already being heaped upon Pelosi. What the Speaker did was give Bush a couple of mild jabs in her message just before the vote. This is her infuriating style. Just before another awful taxpayer hosing, the $165 billion Bush Iraq war blank check back in June, she decried the whole thing after engineering its passage. The only difference this time is that the Bush-Paulson measure failed to pass.
Call Mike at (207) 942-6935 and thank him for seeing through this taxpayer disaster care of Barney Frank, Nancy Pelosi, Henry Paulson, and George Bush. As I wrote a few days ago, the pressure is only beginning because the markets are voting "with their feet by going on a credit strike while the stock market tanks." It will take a lot of fortitude for any Rep in the "nays" today to remain standing.
(Some analysis about how bad this bill is continues below.)
Representative Mike Michaud, despite tremendous pressure from Democratic leadership, came down today on the side of working people everywhere by joining a 228-205 majority against the deceptive, rush $trillion Wall Street bailout bill. I deeply thank Congressman Michaud and hope he has the guts to stand against the backlash of traders who had their salivation for taxpayer money dashed today, tanking the Dow by 777 points.
The basic effect of the bill would have been to create a financial czar out of Paulson. Paulson would have been authorized to operate "on such terms and conditions as are determined by the Secretary, and in accordance with this Act and the policies and procedures developed and published by the Secretary." He would have had virtually dictatorial authority over "TARP," a "Troubled Assets Relief Program"--save for an extremely weak oversight board stuffed with inside people and a toothless Inspector General empowered to write reports.
This is being fashioned as a lose-lose proposition for Democrats. No matter that the opposition was more Republican than Democrat, as I expected, the blame is already being heaped upon Pelosi. What the Speaker did was give Bush a couple of mild jabs in her message just before the vote. This is her infuriating style. Just before another awful taxpayer hosing, the $165 billion Bush Iraq war blank check back in June, she decried the whole thing after engineering its passage. The only difference this time is that the Bush-Paulson measure failed to pass.
Call Mike at (207) 942-6935 and thank him for seeing through this taxpayer disaster care of Barney Frank, Nancy Pelosi, Henry Paulson, and George Bush. As I wrote a few days ago, the pressure is only beginning because the markets are voting "with their feet by going on a credit strike while the stock market tanks." It will take a lot of fortitude for any Rep in the "nays" today to remain standing.
(Some analysis about how bad this bill is continues below.)
[ Read More... ]
Pretty much only rain from Kyle
Heaviest band missed us, not by much--we got about 3 inches (7.5 cm)
Kyle was a dud here. Not so much for Nova Scotia where it made landfall near Yarmouth as a Category 1 hurricane on Sunday night with sustained 120 km/hr winds. In Bangor, we did not even have a gust above 20 km/hr.
Heaviest band missed us, not by much--we got about 3 inches (7.5 cm)
Kyle was a dud here. Not so much for Nova Scotia where it made landfall near Yarmouth as a Category 1 hurricane on Sunday night with sustained 120 km/hr winds. In Bangor, we did not even have a gust above 20 km/hr.
Sunday, September 28, 2008
Track is more easterly, towards Nova Scotia
Less impact for Maine
Tropical Storm Wind Warning
Less impact for Maine
Tropical Storm Wind Warning
HURRICANE KYLE LOCAL STATEMENTSo the tropical storm warning remains in effect and we're still in for 40 mph wind and a bunch more rain. But it does look like a lot of the heaviest stuff is swinging east.
NATIONAL WEATHER SERVICE CARIBOU ME
1139 AM EDT SUN SEP 28 2008
...KYLE CONTINUES TO MOVE NORTH TOWARD THE GULF OF MAINE...
.AT 11 AM EDT...1500Z...ALL WATCHES AND WARNINGS WEST OF STONINGTON MAINE ARE DISCONTINUED. A TROPICAL STORM WARNING AND A HURRICANE WATCH REMAIN IN EFFECT FROM STONINGTON EASTWARD TO EASTPORT MAINE. A HURRICANE WATCH IS ALSO IN EFFECT FOR SOUTHWESTERN NOVA SCOTIA CANADA.
A TROPICAL STORM WARNING IS IN EFFECT FOR SOUTHERN NEW BRUNSWICK CANADA AND SOUTHWESTERN NOVA SCOTIA.
A TROPICAL STORM WATCH IS IN EFFECT FOR THE REMAINDER OF NOVA SCOTIA.
FOR STORM INFORMATION SPECIFIC TO OUR AREA...INCLUDING INLAND WATCHES AND WARNINGS...PLEASE MONITOR PRODUCTS ISSUED BY THE WEATHER FORECAST OFFICE IN CARIBOU MAINE.
AT 11 AM EDT...1500Z...THE CENTER OF HURRICANE KYLE WAS LOCATED NEAR LATITUDE 40.4 NORTH...LONGITUDE 67.7 WEST OR ABOUT 140 MILES... 225 KM...EAST-SOUTHEAST OF NANTUCKET MASSACHUSETTS AND ABOUT 355 MILES...575 KM...SOUTHWEST OF HALIFAX NOVA SCOTIA.
KYLE IS MOVING TOWARD THE NORTH-NORTHEAST NEAR 24 MPH...39 KM/HR... AND THIS GENERAL MOTION IS EXPECTED TO CONTINUE FOR THE NEXT DAY OR SO WITH SOME DECREASE IN FORWARD SPEED. ON THIS FORECAST TRACK...THE CENTER OF KYLE SHOULD PASS EAST OF THE COAST OF MAINE
LATER TODAY AND TONIGHT AND MOVE NEAR OR OVER NOVA SCOTIA AND NEW BRUNSWICK TONIGHT AND EARLY MONDAY.
MAXIMUM SUSTAINED WINDS ARE NEAR 80 MPH...130 KM/HR...WITH HIGHER GUSTS. KYLE IS A CATEGORY ONE HURRICANE ON THE SAFFIR-SIMPSON SCALE. KYLE IS MOVING OVER COLDER WATERS AND WEAKENING IS LIKELY DURING THE NEXT 24 HOURS. THE SYSTEM SHOULD LOSE TROPICAL CHARACTERISTICS ON MONDAY.
HURRICANE FORCE WINDS EXTEND OUTWARD UP TO 70 MILES...110 KM... FROM THE CENTER...AND TROPICAL STORM FORCE WINDS EXTEND OUTWARD UP TO 205 MILES...335 KM.
ESTIMATED MINIMUM CENTRAL PRESSURE IS 991 MB...29.26 INCHES.
TIDES OF 1 TO 2 FEET ABOVE NORMAL...WITH LOCALLY HIGHER LEVELS IN THE BAY OF FUNDY...AND ACCOMPANIED BY LARGE AND DANGEROUS BATTERING WAVES....ARE EXPECTED ALONG THE COASTS OF OF NEW ENGLAND AND THE CANADIAN MARITIMES IN ASSOCIATION WITH KYLE.
RAINFALL TOTALS OF 2 TO 4 INCHES WITH MAXIMUM AMOUNTS OF 6 INCHES ARE POSSIBLE OVER THE EXTREME EASTERN PORTIONS OF THE NEW ENGLAND
STATES...NEW BRUNSWICK...NOVA SCOTIA...AND PRINCE EDWARD ISLAND THROUGH MONDAY MORNING.
MEZ011-015>017-032-290800-/O.CON.KCAR.TI.W.0001.000000T0000Z-080929T0800Z/
CENTRAL PENOBSCOT-SOUTHERN PENOBSCOT-INTERIOR HANCOCK- CENTRAL WASHINGTON-NORTHERN WASHINGTON
1139 AM EDT SUN SEP 28 2008
...TROPICAL STORM WIND WARNING REMAINS IN EFFECT UNTIL 4 AM EDT MONDAY...
...NEW INFORMATION...
AT 11 AM EDT...1500Z...THE NATIONAL HURRICANE CENTER ISSUED AN UPDATE ON HURRICANE KYLE. NO SIGNIFICANT CHANGES TO THE FORECAST HAVE BEEN MADE WITH THIS UPDATED FORECAST. KYLE IS STILL EXPECTED MOVE INTO THE GULF OF MAINE TODAY AND MAKE LANDFALL TONIGHT EAST OF EASTPORT.
...AREAS AFFECTED...
THIS STATEMENT RECOMMENDS ACTIONS TO BE TAKEN BY PERSONS IN... EAST CENTRAL MAINE AND SOUTHEAST MAINE.
...WATCHES/WARNINGS...
PLEASE LISTEN TO NOAA WEATHER RADIO OR GO TO WEATHER.GOV ON THE INTERNET FOR MORE INFORMATION ABOUT THESE ADDITIONAL HAZARDS.
FLOOD WATCH.
...PRECAUTIONARY/PREPAREDNESS ACTIONS...
PEOPLE SHOULD TAKE THE FOLLOWING PRECAUTIONS BEFORE TROPICAL STORM FORCE WINDS ARRIVE. BE PREPARED FOR POTENTIAL POWER OUTAGES...CHECK FOR BATTERIES OR OTHER POWER SOURCES. SECURE LAWN FURNITURE AND OTHER LOOSE ITEMS.
...WINDS...
AS KYLE NEARS LAND FALL TODAY WINDS WILL INCREASE FROM THE NORTHEAST AT 40 TO 50 MPH. WINDS WILL GRADUALLY BECOME NORTHWEST AND INCREASE TO 50 TO 60 MPH LATER TODAY INTO TONIGHT.
...INLAND FLOODING...
RAINFALL AMOUNTS WITH THE PASSAGE OF KYLE ARE EXPECTED TO RANGE BETWEEN 2 AND 4 INCHES. WHEN COMBINED WITH THE RAINFALL INTO THIS EVENING...TOTAL RAINFALL THROUGH SUNDAY WILL BE 4 TO 6 INCHES. A FLOOD WATCH REMAINS IN EFFECT THROUGH THIS EVENING.
...NEXT UPDATE...
THIS STATEMENT WILL BE UPDATED AFTER 2 PM EDT.
$$
NORCROSS/STUREY
Saturday, September 27, 2008
Yep, a hurricane now
Tropical-storm-force probability cone, Bangor over 50%
Scary table, 1% Kyle will be Category 3 at landfall, and 45% a Category 1 hurricane
Hurricane Watch
Tropical-storm-force probability cone, Bangor over 50%
Scary table, 1% Kyle will be Category 3 at landfall, and 45% a Category 1 hurricane
Hurricane Watch
HURRICANE KYLE LOCAL STATEMENTMaine has not had a hurricane since Bob in August 1991. I missed that because I was in the Boundary Waters Canoe Area in Minnesota at the time. Where I lived then, Portland, received 9 inches of rain. Huge trees came down in my neighborhood. But my cauliflowers grew to enormous size that year!
NATIONAL WEATHER SERVICE
538 PM EDT SAT SEP 27 2008
...KYLE EXPECTED TO IMPACT DOWNEAST MAINE...
AT 5 PM EDT...2100 UTC...A TROPICAL STORM WARNING IS IN EFFECT ALONG THE COAST OF MAINE FROM PORT CLYDE EASTWARD TO EASTPORT. A TROPICAL STORM WARNING MEANS THAT TROPICAL STORM CONDITIONS ARE EXPECTED WITHIN THE WARNING AREA WITHIN THE NEXT 24 HOURS.
A TROPICAL STORM WATCH REMAINS IN EFFECT FOR THE COAST OF MAINE SOUTH OF PORT CLYDE TO CAPE ELIZABETH...INCLUDING THE PORTLAND AREA. A TROPICAL STORM WATCH MEANS THAT TROPICAL STORM CONDITIONS ARE POSSIBLE WITHIN THE WATCH AREA...GENERALLY WITHIN 36 HOURS.
THE GOVERNMENT OF CANADA HAS ISSUED A HURRICANE WATCH AND A TROPICAL STORM WARNING FOR SOUTHWESTERN NOVA SCOTIA. A TROPICAL STORM WATCH REMAINS IN EFFECT FOR THE REMAINDER OF NOVA SCOTIA... AND FOR SOUTHWESTERN NEW BRUNSWICK.
INTERESTS ELSEWHERE IN NEW ENGLAND AND THE CANADIAN MARITIMES SHOULD MONITOR THE PROGRESS OF OF KYLE.
FOR STORM INFORMATION SPECIFIC TO YOUR AREA...INCLUDING POSSIBLE INLAND WATCHES AND WARNINGS...PLEASE MONITOR PRODUCTS ISSUED BY YOUR LOCAL WEATHER OFFICE.
AT 500 PM AST...2100Z...THE CENTER OF HURRICANE KYLE WAS LOCATED NEAR LATITUDE 34.3 NORTH...LONGITUDE 69.7 WEST OR ABOUT 315 MILES... 505 KM...WEST-NORTHWEST OF BERMUDA AND ABOUT 485 MILES...780 KM... SOUTH OF NANTUCKET MASSACHUSETTS.
KYLE IS MOVING TOWARD THE NORTH NEAR 23 MPH...37 KM/HR. A GRADUAL TURN TOWARD THE NORTH-NORTHEAST IS EXPECTED TONIGHT AND SUNDAY. ON THE FORECAST TRACK...THE CENTER OF KYLE IS FORECAST TO BE NEAR EASTERN NEW ENGLAND OR THE CANADIAN MARITIMES LATE SUNDAY.
REPORTS FROM AN AIR FORCE RESERVE HURRICANE HUNTER AIRCRAFT INDICATE THAT MAXIMUM SUSTAINED WINDS HAVE INCREASED TO NEAR 75 MPH...120 KM/HR...WITH HIGHER GUSTS. KYLE IS A CATEGORY ONE HURRICANE ON THE SAFFIR-SIMPSON SCALE. SOME ADDITIONAL STRENGTHENING IS POSSIBLE DURING THE NEXT 24 HOURS.
HURRICANE FORCE WINDS EXTEND OUTWARD UP TO 70 MILES...110 KM... FROM THE CENTER...AND TROPICAL STORM FORCE WINDS EXTEND OUTWARD UP TO 205 MILES...335 KM MAINLY TO THE EAST OF THE CENTER.
THE MINIMUM CENTRAL PRESSURE REPORTED BY THE HURRICANE HUNTER IS 995 MB...29.38 INCHES.
TIDES OF 1 TO 2 FEET ABOVE NORMAL...WITH LOCALLY HIGHER LEVELS IN THE BAY OF FUNDY...AND ACCOMPANIED BY LARGE AND DANGEROUS BATTERING WAVES....ARE EXPECTED ALONG THE COASTS OF OF NEW ENGLAND AND THE CANADIAN MARITIMES IN ASSOCIATION WITH KYLE.
RAINFALL TOTALS OF 2 TO 4 INCHES WITH MAXIMUM AMOUNTS OF 6 INCHES ARE POSSIBLE OVER EASTERN PORTIONS OF THE NEW ENGLAND STATES... NEW BRUNSWICK... NOVA SCOTIA... AND PRINCE EDWARD ISLAND THROUGH MONDAY MORNING.
Official hurricane and tropical storm watch up for Maine
Westward swing
The predicted track is further west than what was posted late Thursday. The probability of tropical storm wind speed (sustained 50+ mph) went to 50% from 5% for us. Furthermore, this slightly ominous watch--mentioning "HURRICANE" for the coast from Stonington to Eastport--just went up at 11am today:
Tropical Storm Wind Watch
Westward swing
The predicted track is further west than what was posted late Thursday. The probability of tropical storm wind speed (sustained 50+ mph) went to 50% from 5% for us. Furthermore, this slightly ominous watch--mentioning "HURRICANE" for the coast from Stonington to Eastport--just went up at 11am today:
Tropical Storm Wind Watch
TROPICAL STORM KYLE LOCAL STATEMENTKyle can s___ my b___s.
NATIONAL WEATHER SERVICE
1142 AM EDT SAT SEP 27 2008
...KYLE EXPECTED TO IMPACT DOWNEAST MAINE...
AT 11 AM EDT...1500 UTC...A HURRICANE WATCH IS IN EFFECT FOR THE COAST OF MAINE FROM STONINGTON TO EASTPORT. A HURRICANE WATCH MEANS THAT HURRICANE CONDITIONS ARE POSSIBLE WITHIN THE WATCH AREA...GENERALLY WITHIN 36 HOURS.
INTERESTS ELSEWHERE IN NEW ENGLAND AND THE CANADIAN MARITIMES SHOULD MONITOR THE PROGRESS OF OF KYLE.
AT 1100 AM EDT...1500Z...THE CENTER OF TROPICAL STORM KYLE WAS LOCATED NEAR LATITUDE 32.1 NORTH...LONGITUDE 69.6 WEST OR ABOUT 280 MILES...450 KM...WEST OF BERMUDA AND ABOUT 635 MILES... 1025 KM...SOUTH OF NANTUCKET MASSACHUSETTS.
KYLE IS MOVING TOWARD THE NORTH-NORTHWEST NEAR 15 MPH...24 KM/HR. A TURN TOWARD THE NORTH AND AN INCREASE IN FORWARD SPEED IS EXPECTED LATER TODAY...AND A TURN TOWARD THE NORTH-NORTHEAST IS EXPECTED TONIGHT OR SUNDAY. ON THE FORECAST TRACK...THE CENTER OF KYLE IS FORECAST TO BE NEAR EASTERN NEW ENGLAND OR THE CANADIAN MARITIMES LATE SUNDAY.
MAXIMUM SUSTAINED WINDS ARE NEAR 70 MPH...110 KM/HR...WITH HIGHER GUSTS. SOME STRENGTHENING IS FORECAST DURING THE NEXT 24 HOURS... AND KYLE COULD BECOME A HURRICANE LATER TODAY.
ESTIMATED MINIMUM CENTRAL PRESSURE IS 998 MB...29.47 INCHES.
RAINFALL TOTALS OF 2 TO 4 INCHES WITH MAXIMUM AMOUNTS OF 6 INCHES ARE POSSIBLE OVER EASTERN PORTIONS OF THE NEW ENGLAND STATES...NEW BRUNSWICK...AND NOVA SCOTIA THROUGH MONDAY MORNING.
MEZ011-015>017-032-281545-/O.NEW.KCAR.TI.A.0001.080927T1542Z-080929T0200Z/
CENTRAL PENOBSCOT-SOUTHERN PENOBSCOT-INTERIOR HANCOCK-CENTRAL WASHINGTON-NORTHERN WASHINGTON
1142 AM EDT SAT SEP 27 2008
...TROPICAL STORM WIND WATCH IN EFFECT THROUGH SUNDAY EVENING...
...AREAS AFFECTED...
THIS STATEMENT RECOMMENDS ACTIONS TO BE TAKEN BY PERSONS IN...
EAST CENTRAL MAINE AND SOUTHEAST MAINE.
...WATCHES/WARNINGS...
A TROPICAL STORM WIND WATCH IS IN EFFECT FOR INTERIOR DOWNEAST TO INCLUDE THE CITIES OF BANGOR...ORONO...OLD TOWN...LINCOLN AND...CALAIS.
...PRECAUTIONARY/PREPAREDNESS ACTIONS...
PEOPLE SHOULD TAKE THE FOLLOWING PRECAUTIONS BEFORE TROPICAL STORM FORCE WINDS ARRIVE. BE PREPARED FOR POTENTIAL POWER OUTAGES...CHECK FOR BATTERIES OR OTHER POWER SOURCES. SECURE LAWN FURNITURE AND OTHER LOOSE ITEMS.
...WINDS...
AS KYLE NEARS LAND FALL SUNDAY NIGHT WINDS WILL INCREASE FROM THE NORTHEAST AT 4O TO 50 MPH. WINDS WILL GRADUALLY BECOMING NORTHWEST AND INCREASE TO 50 TO 60 MPH AFTER MIDNIGHT.
...NEXT UPDATE...
NEXT UPDATE WILL BE ISSUED BY 600 PM THIS EVENING.
$$
FOSTER/LERICOS/STUREY
Juan Cole has excellent goods
I will at this late hour just point out a whole aspect of the debate that bugged me. But first, in the best, most intense exchange, Obama nailed McCain for over the years not having very good judgment about Iraq:
What really struck me in all this is that neither McCain nor Obama seems to recognize the horrendous effect the Iraq invasion has had on the Iraqi people. For his part, Obama seems not to have any interest in the facts from Professor Cole's references about ethnic cleansing and refugees that refute "victory" through surge. Maybe the eye is off the ball and the Iraqis have $79 billion, but haven't they paid the worst cost? Why is it that Obama is loathe to go there, even though McCain's position could be undermined, while the American people could learn from the debate some of the real issues in Iraq?
I will at this late hour just point out a whole aspect of the debate that bugged me. But first, in the best, most intense exchange, Obama nailed McCain for over the years not having very good judgment about Iraq:
Obama: And so John likes -- John, you like to pretend like the war started in 2007. You talk about the surge. The war started in 2003, and at the time when the war started, you said it was going to be quick and easy. You said we knew where the weapons of mass destruction were. You were wrong.What bugs me is that implicit here, according to Obama, is that he agrees with McCain that everything has gone swimmingly since 2007. Professor Cole disabuses that notion with references on Iraqi hospitals without elevators for the numerous new amputees, satellite pictures of dark, ethnically cleansed Sunni regions of Baghdad, along with Professor Cole's personal experience witnessing the plight of Iraqi refugees in Jordan.
What really struck me in all this is that neither McCain nor Obama seems to recognize the horrendous effect the Iraq invasion has had on the Iraqi people. For his part, Obama seems not to have any interest in the facts from Professor Cole's references about ethnic cleansing and refugees that refute "victory" through surge. Maybe the eye is off the ball and the Iraqis have $79 billion, but haven't they paid the worst cost? Why is it that Obama is loathe to go there, even though McCain's position could be undermined, while the American people could learn from the debate some of the real issues in Iraq?
Friday, September 26, 2008
Time's up for peppers
Smallish, but juicy with thick walls
Ms. Owl's gluten-free pizza
I think the peppers (see July photo) are all through. We've been eating some every couple of days but they aren't getting any bigger. What's left now are many nubby little things and just a couple decent-sized from six plants. Texture is firm and flavor splendid. They are perfect for Ms. Owl's extremely tasty home-made, gluten-free pizza.
Smallish, but juicy with thick walls
Ms. Owl's gluten-free pizza
I think the peppers (see July photo) are all through. We've been eating some every couple of days but they aren't getting any bigger. What's left now are many nubby little things and just a couple decent-sized from six plants. Texture is firm and flavor splendid. They are perfect for Ms. Owl's extremely tasty home-made, gluten-free pizza.
Posted by The Owl on Sep 26 at 20:00. Filed under: Nature photography
Not in the mood
Three-day track for potential tropical storm
It says 10% chance we'll have a sustained 60 mph wind Sunday. Enjoyers of South Park will get this: Kyle can s___ my b___s.
Three-day track for potential tropical storm
It says 10% chance we'll have a sustained 60 mph wind Sunday. Enjoyers of South Park will get this: Kyle can s___ my b___s.
Unregulated insurance is a license to steal.
Thursday, September 25, 2008
Ms. Owl: The rich need the money! Don't you know how expensive it is to lead a rich lifestyle?I'm watching Pat Buchanan on my new favorite show, Rachel Maddow. He's lays it out for any Democrats not yet knowing how they are getting creamed by the Bush-Paulson panic.
Basically, if there is no deal along the terms of what the conservative Republicans want, then it's the Democrats fault after the markets vote with their feet by going on a credit strike while the stock market tanks. If the Democrats pass their own deal with Bush without the right-wing Republicans, then it's the fault of the Democrats for fleecing the taxpayer. If the Democrats go along, then all possibility for progressive reform is foreclosed for years, while the rich can go back to their favorite pastime of drinking money from fire hoses.
