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What a week...
Good day to all -
Obviously an interesting week in local/state politics. First things first I am the Treasurer for Mike Parry's State Senate Campaign so expect a little bias in my commentary.
I wish both Roy and Mike the best of luck in their campaigns. Roy has shown that he can be a leader and rally the troops when needed. Mike's strong suit lies in communication/sales (whether it be radio spots, pizza or ideas). Roy has the patience of Job and that is needed at the state level. Mike is never a shrinking violet, you know he is in the room, you know what he wants and why he wants it. They both have other great qualities that will serve them well but I think it is Mike's confident take no prisoners approach that will serve the Waseca district the best. The non metro contingency is often beaten back by the polish and cohesion of the metro legislators. Mike will be a vocal proponent for outstate needs. Good luck gentlemen!
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On to other things (but I am sure we will visit on this again before the election Jan 26)
The Waseca School Boards (more precisely Keith Hiller's) proposal to bring TEAM back into the district is interesting. There are redundant costs that create wasteful spending, neither party is being wasteful - just paying for identical resources that could easily be shared is not efficient. To me the interesting question is if you are a TEAM supporter wouldn't you want that approach shared with other students as well? Stated differently what if the merger were seen as TEAM absorbing the district? On a related note I have been working on my "Widespread Panic Education Solution" for a couple of weeks now and hope to have that posted prior to the New Year - yep, I have all the answers.
I read a great article about banking - the jist was that banks have moved from lending primarily to businesses to devoting more of their assets to consumers. Business debt is more productive in that is rolled over several times a year as a business cylces - loan proceeds are used to by inventory, finished goods are sold, debt is paid down begin again. The purchases are capital purchases that add to productivity. Consumer debt is used for finished goods and the cycle ends, the debt stays on the books longer. Banks are able to hold the debt for longer terms because the FDIC program protects banks from bank runs. No bank runs = less need for liquidity = higher fractional reserve lending = higher leverage= too big to fail. Total bank assets have more than doubled in the past decade while business loan totals have only gone up 25%. No we find President Obama calling all the "Fat Cats" on to the carpet for following the road that the Keynesian road (see excessive saving at the link) that has been advocated by the Democratic party (brief rant - if anyone tells you that colleges do not have an agenda when they teach students please see the late Paul Samuelson's quote "I don’t care who writes a nation’s laws — or crafts its advanced treatises — if I can write its economics textbooks". Paul had an agenda to advance Keynsian economics and was very successful as his text is the text of choice at most public colleges. This leads to a whole generation that was taught a slanted perspective that has led to our current economic straits. Admittedly there are other texts that offer their own take but Samuelson's quote is a warning for us all) for decades.
I have to admit the whole health care debate has dampened my spirits lately. So many bright folks in Washington and they seem to be racing for the mediocre (and wrong). It would be like going out for dinner with Emeril Lagasse and Bobby Flay and they say "lets go to Old Country Buffet". This is America give us a little spice!
That is all for now - don't worry I have something shiny for you.
Stay alert, stay alive.
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