The economy is ... draw your own conclusions

Bernanke: economy faces 'numerous difficulties' By JEANNINE AVERSA, AP Economics Writer WASHINGTON - Federal Reserve Chairman Ben Bernanke told Congress Tuesday the fragile economy is facing "numerous difficulties" including persistent strains in financial markets, rising joblessness and housing problems — despite the Fed's aggressive interest rate reductions and other fortifying steps. (Yahoo News)

Bush calls on Congress to act on housing, energy By TERENCE HUNT, AP White House Correspondent WASHINGTON - President Bush said Tuesday the nation's troubled financial system is "basically sound" and urged lawmakers to quickly enact legislation to prop up mortgage giants Fannie Mae and Freddie Mac. (Yahoo News)

Perhaps it is just me, but maybe the President and the head of the Federal Reserve Board should hire an image consultant. Or have lunch together because when the President says the financial systems is "basically sound" and the head of the Fed is saying "persistent strains," one has to begin wondering just who is telling the truth.

The business news is getting a lot of ink lately. The Dow Jones average is all over the house. Economic reports are generally less than stellar. Consumer confidence is somewhere between low and non-existent and yet we are not in a recession. Oil and thus transportation costs are up, which means there are increases in food and other goods. But there is no inflation. Real wages really have not increased in decades, most people are living so close to the margin that a minor unplanned financial issue has the potential of putting them out on the street, yet there is no real problem, everything is fine. Go about your business.

I cannot wait to here what the Treasury Secretary has to say...

When "security" and "discrimination" meet.

Italy's fingerprinting of members of the country's Roma community is a direct act of racial discrimination, the European Parliament has said. (BBC News)

I find this statement particularly disturbing, "But former EU Justice Commissioner and current Italian Foreign Minister Franco Frattini defended the measure which he said 'does not target ethnic groups and is not inspired by racism but by the elementary need to identify anyone who does not have a valid document'."

Now, the question I have to ask, is how long before this is the justification in Prince William County, or any other part of the United States?

More political wet dreams.

"We will ask Americans to serve. We will create new opportunities for Americans to serve. And we will direct that service to our most pressing national challenges." (CNN)

As someone who spends a lot of my own time volunteering, I have to ask both candidates if they have looked at the issue seriously. You cannot force someone to volunteer. It actually defeats the purpose. Volunteer spirit has to come from inside the individual and the organization they are volunteering with has to be something they believe in. Otherwise, you are wasting time and money.

He also mentions easing the burden on the troops. Sounds like a veiled call to mandatory service if I was a cynic. What burden is it we are easing again? There are already billions of dollars being poured into the coffers of the Department of Defense for easing their burdens, so I am sort of at a loss for what more can be done. If your military is all volunteer and people do not want to volunteer, you have only two options. Except the limitations a smaller force puts on you or jettison the notion that it is all volunteer. There really are not any more choices.

In urban areas especially, as I have said numerous times, there is so little time left to individuals that something will suffer if they volunteer too much. Further, most volunteer groups will not accept you if you are not over 18, making many legitimate and earnest individuals ineligible to volunteer. I will keep watching this issue because I suspect, like many things, I am not as cynical as I sometimes lead myself to believe.