Sunday, October 05, 2008

60 Minutes = Quality

60 Minutes was incredible tonight (usually is). Highly recommend watching/reading this: The commander of the Delta Force operation to kill Osama Bin Laden tells the story of how Bin Laden got away. He's been disguised and all the photos and video footage of faces from the operation have been blurred to keep identities of soldiers secret. A great story of how difficult war is, and how paid mercenaries are hard to call "allies."

He's also published a book under a pseudonym. Add that to the Wish List.

Since we're on the subject, in case you didn't hear, Hamid Karzai's brother is linked to the heroin trade. Also, one of the British ambassador to Afghanistan's communiques was allegedly leaked. He is telling others that we need to prepare an "acceptable dictator" for Afghanistan and to "prepare the public" for the failure of democracy there as the situation worsens.

One would hope this would come up in the Presidential debates. Let's see, we're in the worst financial crisis since the great depression, our national debt ceiling is higher than ever, we're fighting two wars that aren't going the way we want and that our allies want out of while Al Qaeda is strong and our American government is maybe even less popular at home than abroad. What happens next? (BTW-- sadly, that last paragraph isn't opinion, it's what the data say).

5 comments:

Jessica said...

I can't figure out why either of them want to be President. What a mess!

I heard a neat thing on our Christian radio this morning. It was audio clips from each of the candidates promising change. Then the announcer read Scripture about nations turning to God for salvation and offered that the only One who can truly change America is God. Good perspective.

Keith Walters said...

I saw part of it and it looked good.

If I may pose a question. What does this (http://www.cnn.com/2008/US/10/05/shaky.banks.ap/index.html) mean for the average American like my self?

BTW I bet this is an exciting time to teach economics, I am sure there is much to discuss in your classes.

JTapp said...

Keith,
"Stanford Financial analyst Jaret Seiberg. He expects more than 100 banks nationwide to fail next year."

The average American shouldn't be worried about his/her bank failing. Your deposits are now insured up to $250,000. Unless you have more than that in the bank, you're fine.

However, right now banks aren't lending to each other or corporations or individuals much. Interest rates on anything other than 3-month T-Bills are going up, making the cost of borrowing more expensive. If you want to buy a house and can't make a large downpayment, you might have some real difficulties getting a loan.

As Goldman Sachs projects unemployment to hit 8% next year, a lot of Americans will be out of work and cash will be tight.

The projected increases in inflation are important as well. The prices of all the goods/services you purchase will be going up, and unless your salary is adjusted often, you're going to see a decline in your real income.

That's just stuff for the here and now. The long-term stuff is a bit scarier and I post on that often.

Charity said...

I saw 60 minutes last night as well... sooo interesting. I felt awful for the Delta Force commander, and I was glad to hear the "real" story.

Charity said...

BTW, I can't believe your gas is $2.87... Ours went down to $3.39, and I thought that was good. =P