Catching Myself Up

Is it just me or are you too getting bored of this never ending game of chicken between President Bush and the Democratic Congress? So I get that Bush doesn't take ultimatums well, wonder if there is some history there between him and Pappy Bush, but threatening to veto a bill to fund our troops seems ludicrous and more than a little petty. The repeated need to prove that he is the boss is getting old. Seriously, if I didn't know better I would guess he has all the insecurities of a short, pudgy, and balding middle age man. Still as much as I may despise GWB, he is not alone in this. The Democrats need to avoid squandering whatever advantage they have gained in these past elections by not turning into the Newt Gingrich congress of the late-90s. The rhetoric between the president and Congress is reminiscent of the Gingrich led government shutdown, only with much higher stakes. So instead of letting John Edwards and Barack Obama rant on about an immediate and complete withdrawal, Democrats should tone it down and develop a realistic solution that doesn't involve a massive showdown between the executive and legislative branches.

Apparently it is possible to swiftboat your way into an appointed office. Just ask Sam Fox. $50,000 worth of anti-Kerry swiftboating ads got him Belgium. Go Bush and the recess appointment. I wonder if I make a $1000 contribution to One More Term for Bush if he'll let me have the Congo... it's GDP is 1/20th of Belgium...

Some still believe the third time is a charm. Kirk Kerkorian first tried to take over Chrysler almost a decade ago in a buyout partnership with Lee Iacocca. When that failed he sold his shares. Then he bought a stake in General Motors, only to sell it, when his dream of created an automotive behemoth (e.g., the merge of Nissan, Renault, and GM) did not come to fruition. Gee, like that's a surprise. And now Tracinda is back at it again, looking to buyout Chrysler from its German parents for a mere $4.5bn. Now it doesn't take a rocket scientist to know that the auto industry is troubled, but $4.5bn does seem absurdly low. The fact that Kerkorian was willing to offer over $20bn just 12 years ago only proves that he is low-balling DaimlerChrysler. That is $1.3bn on value disappearing on an annualized basis. It would be interesting to assess Chrysler's liquidation value, I would not be surprised if it hovered around the $5bn range.