TRES FAUX MORNING REPORT 7/23/12

Vital Statistics:
Last Change Percent
S&P Futures 1344.96
-236.73
-1.85%
Eurostoxx Index
2,171.87
-65.46
-2.93%
Oil (WTI) 88.35 -3.48 -3.79%
LIBOR – 3 mo 0.46 0.000 0.00%
US Dollar Index (DXY) 83.972 0.494 0.59%
10 Year Govt Bond Yield 1.41% -.044%
Penn State $60M to child abuse prevention  

strip PSU of all wins

from ’98-

2012

 

 

reduce     schollies;    no  bowls for 4  yrs

Penn State did not get DP.  NCAA violated its procedural rules, wildly, to do this, so the penalties are largely unprecedented.  NCAA will probably get away with this and Penn State will probably not appeal.  That is because if the sanctions are reversed on procedural grounds, as they would surely be, the NCAA would come back with a “duly processed” Death Penalty as the next step.

SPORTS

http://www.nowness.com/day/2011/9/1/1611/dewey-nicks-strong-is-beautiful

THE PAMPHLETEER

Washington maintained the spirits of the rag-tag Continental Army through his own qualities of leadership and courage and with the help of the pamphleteer.  Paine’s The Crisis and Common Sense were disseminated among the junior officers and ordered read to the men.  It is said these were the most effective propaganda materials ever seen until then, perhaps because they rang so true.  From The Crisis:

THESE are the times that try men’s souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country; but he that stands by it now, deserves the love and thanks of man and woman. Tyranny, like hell, is not easily conquered; yet we have this consolation with us, that the harder the conflict, the more glorious the triumph. What we obtain too cheap, we esteem too lightly: it is dearness only that gives every thing its value. Heaven knows how to put a proper price upon its goods; and it would be strange indeed if so celestial an article as FREEDOM should not be highly rated. Britain, with an army to enforce her tyranny, has declared that she has a right (not only to TAX) but “to BIND us in ALL CASES WHATSOEVER” and if being bound in that manner, is not slavery, then is there not such a thing as slavery upon earth. Even the expression is impious; for so unlimited a power can belong only to God.

How we got three branches -1775

This is largely due to little John Adams, according to his brethren including Jefferson.  Adams wrote this as part of his advice in 1775:

 

1. A single assembly is liable to all the vices, follies, and frailties of an individual; subject to fits of humor, starts of passion, flights of enthusiasm, partialities, or prejudice, and consequently productive of hasty results and absurd judgments. And all these errors ought to be corrected and defects supplied by some controlling power.

2. A single assembly is apt to be avaricious, and in time will not scruple to exempt itself from burdens, which it will lay, without compunction, on its constituents.

3. A single assembly is apt to grow ambitious, and after a time will not hesitate to vote itself perpetual. This was one fault of the Long Parliament; but more remarkably of Holland, whose assembly first voted themselves from annual to septennial, then for life, and after a course of years, that all vacancies happening by death or otherwise, should be filled by themselves, without any application to constituents at all.

4. A representative assembly, although extremely well qualified, and absolutely necessary, as a branch of the legislative, is unfit to exercise the executive power, for want of two essential properties, secrecy and despatch.

5. A representative assembly is still less qualified for the judicial power, because it is too numerous, too slow, and too little skilled in the laws.

***************

This reasoning was adopted in VA by Madison, in NY by Jay and Hamilton, in MA (of course) and in NC, before or during the Revolution.  It was rejected, for a time, by the new nation, but this advice ultimately seeded the Constitution that replaced the AoC.

Report on Manufactures

5 Dec. 1791Papers 10:302–4

A Question has been made concerning the Constitutional right of the Government of the United States to apply this species of encouragement, but there is certainly no good foundation for such a question. The National Legislature has express authority “To lay and Collect taxes, duties, imposts and excises, to pay the debts and provide for the Common defence and general welfare” with no other qualifications than that “all duties, imposts and excises, shall be uniform throughout the United states, that no capitation or other direct tax shall be laid unless in proportion to numbers ascertained by a census or enumeration taken on the principles prescribed in the Constitution, and that “no tax or duty shall be laid on articles exported from any state.” These three qualifications excepted, the power to raise money is plenary, and indefinite; and the objects to which it may be appropriated are no less comprehensive, than the payment of the public debts and the providing for the common defence and “general Welfare.” The terms “general Welfare” were doubtless intended to signify more than was expressed or imported in those which Preceded; otherwise numerous exigencies incident to the affairs of a Nation would have been left without a provision. The phrase is as comprehensive as any that could have been used; because it was not fit that the constitutional authority of the Union, to appropriate its revenues shou’d have been restricted within narrower limits than the “General Welfare” and because this necessarily embraces a vast variety of particulars, which are susceptible neither of specification nor of definition.

It is therefore of necessity left to the discretion of the National Legislature, to pronounce, upon the objects, which concern the general Welfare, and for which under that description, an appropriation of money is requisite and proper. And there seems to be no room for a doubt that whatever concerns the general Interests of learning of Agriculture of Manufactures and of Commerce are within the sphere of the national Councils as far as regards an application of Money.

The only qualification of the generallity of the Phrase in question, which seems to be admissible, is this–That the object to which an appropriation of money is to be made be General and not local; its operation extending in fact, or by possibility, throughout the Union, and not being confined to a particular spot.

No objection ought to arise to this construction from a supposition that it would imply a power to do whatever else should appear to Congress conducive to the General Welfare. A power to appropriate money with this latitude which is granted too in express terms would not carry a power to do any other thing, not authorised in the constitution, either expressly or by fair implication.
ALEXANDER HAMILTON

The Founders’ Constitution
Volume 2, Article 1, Section 8, Clause 1, Document 21
http://press-pubs.uchicago.edu/founders/documents/a1_8_1s21.html
The University of Chicago Press

The Papers of Alexander Hamilton. Edited by Harold C. Syrett et al. 26 vols. New York and London: Columbia University Press, 1961–79.

3 Movies

Moonrise Kingdom.  Only slightly surreal comic instant mini-classic.  Two 12 year old first time actors are delightful as the central players.  Surrounded by Bill Murray and Frances McDormand, the girl’s parents, lawyers who call each other “counselor”; Ed Norton as the boy’s scoutmaster, Bruce Willis as the town cop, the Englishwoman Tilda Swinton as “social services”, and Harvey Keitel as the scouting commander, the two kids have a misadventure-and-romance-on-the-hike on a New England island in the mid 60s, while the adults search for them.  It is identifiably Wes Anderson, if you know his stuff, especially Rushmore.   A

Bernie.  Not to be confused with Weekend with Bernie.  Linklater presents the true story of a murder in Carthage, TX.  It is the funniest murder pseudo-documentary you will ever see, with Shirley McLaine as the town’s hated banker and eventual victim and Jack Black, in what could be an award winning role, as the town’s beloved assistant funeral director and murderer.  Matthew McConnaghey plays the D.A. and a retired lawyer I have known since law school, Brady Coleman, plays the defense attorney.  But not to be missed are the actual citizens of Carthage, TX, who  provide continuing commentary as the story unfolds.  As one of them explains, Carthage is behind the “Pine Curtain” in east TX – the part of TX  that is in the South.  A-

MIB3  I loved it.  It cannot be critically reviewed.  Tommy Lee Jones.  B  Must see for fans like me.

Tort Reform – for discussion

see:

http://www.statesman.com/news/local/new-study-tort-reform-has-not-reduced-health-2402096.html

 

Disappointing, because TX took such a hard line in 2003 that if there were good results to show we would have them by now.

People can function perfectly in parts of NoVa and never speak a word of English or have any contact with the larger culture. I don’t think that’s a problem. – NoVAH

New topic is introduced, raising these questions, and more.

Does the USA need an official language?

 

Does it need a national language, even if it is not proclaimed “official”?

 

Is the traditional melting pot where the school kid grew up to rapidly identify herself as “American” first even though her parents came from some other country a part of our culture worth reinforcing?  By whom?

Thanx to NoVAH for the inspiration.  I will comment with my own tentative answers.

Explanation Letter

Dear Commerce Team,

This evening, I notified Deputy Secretary Rebecca Blank that I am taking a medical leave of absence in order to focus on resolving my health issues that arose over the weekend.

During this time, I will not perform the functions and duties of Commerce Secretary. Therefore, I am transferring these responsibilities to Dr. Blank who will serve as Acting Secretary, effective immediately.

As you know, Dr. Blank has strengthened our Department in this role before. I have every confidence in her.

I know that all of you will work to make this a seamless transition, and I thank you in advance for your continued work to help America’s businesses drive economic growth and job creation at this crucial moment in our nation’s recovery.

Finally, I want to thank all of you personally for your warm thoughts and support.

Sincerely,

John Bryson

_________________________

Footnote: Like Rick Perry and Barack Obama, John Bryson has argued for the termination of the Cabinet post of SecCommerce.

Fool’s Errand?

http://dealbook.nytimes.com/2012/06/11/why-the-bailout-in-spain-wont-work/?nl=business&emc=edit_dlbkam_20120612