State of the Union ??

One didn’t need a SOTU message in order to understand the State of the Union. The American dollar is dramatically less valuable then when the Bush Administration moved into the White House. Additionally, the price of gasoline per gallon is approximately 2.5 times what it was before Mr. Bush took up residence. And, while the trade deficit has deepened, our reliance on foreign debt has increased; our military is dangerously short of readiness guidelines and the world is less safe because of the American invasion of the Sovereign Nation of Iraq. The ramifications of the sub-prime mortgage free-for-all will not only effect those that will be statistics of the record foreclosures, but very likely cause harmful collateral damage to those that have adjusted their personal financial habits by taking advantage of equity financing of their inflated real estate value.

However, if one did chose to listen to the SOTU last evening, one heard of a robust economy with a recent weakening of the US dollar in the passive voice. Further strengthening ‘No Child Left Behind’ requests and other such fictional depictions of failed or mismanaged programs as part of the ‘see-we-care-about-people’ barrage of talking points. But the big Kahuna that drove the Republicans to their feet in convulsive applause was when the President urged Congress to make the temporary tax cuts permanent. Then, with smirk only a mother could love – President Bush delivered an insulting quip to those fortunate enough to have substantial personal income who have taken the position that they are willing to pay more taxes. That is, the insulting wise-crack about the IRS accepting both checks and money orders. Now that wouldn’t necessarily be a knee-slapper if it weren’t for the fact that Milton Friedman’s invisible hand of the market is going to be dope slapping the stuffing out of these orthodox supply-sided Luddites through the next 10 years of economic recovery – and – this President is highly likely to reign unchallenged for centuries as the World’s worst leader since Ferdinand Marcos and the most formidable divider since Euclid.

While political parties (essentially the big two) have their own ecosystem and cannibalistic dietery habits – the subset of neocon Princes that have performed feats of incredible mass hypnosis that would have inspired the awe of Franz Mesmer. But not only did they take our gold watch and dangle it in order to get us drowsy … they kept it. In fact based on the rules of corporate citizenry and the applied economics thereof; this Administration has overseen the magic acts that have actually converted currency from average American taxpayers and consumers to the wealth of a very few Corporatists. (Not to be confused with the Democratic elective of Capitalism).

We further heard General Petreaus’ name invoked once or twice – although for the last few months its been rumored that he’ll be rewarded with the top slot at NATO for doing so well at the Iraq magic show – this mention was about how we’re still working on that ‘surge’ thing.

Last but not least, we heard the President, with inimitable speaking style, threaten Congress, defy logic, and shirk any responsibility for presiding over the death of 4000 American soldiers and an estimated 250,000 – 600,000 Iraqi deaths. (The reason it is estimated is because the US does not and will not spend any time determining the true number and rejects all estimates.

On a brighter note – Halliburton posted record profits yesterday.

http://www.reuters.com/article/hotStocksNews/idUSN2842144120080128