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Market Future Clear as Mud
Utah economist Jeff Thredgold’s Tea Leaf economic update this week explains how the Federal Reserve is dealing with shaky financial markets. But Thredgold sees no clear pattern ahead: “Anyone who tells you how financial markets will perform and how the Fed will respond in coming days and weeks is drinking their own bath water. Forecasting is tough enough when financial markets are behaving rationally. It is fraught with even greater risk when in uncharted waters.”
Today in Political History
August 23, 1775: King George III declares the American Colonies in a state of rebellion and threatens to deal harshly with traitors.
August 23, 1935: Josef Stalin signs non-aggression pact with Adolf Hitler. (Source: Perspicuity)
August 23, 1972: The Republican National Convention, meeting in Miami, Florida, nominates Vice President Spiro T. Agnew for a second term with Richard Nixon. Agnew resigns in 1973. (Source: NBC5)
Wise Words
“If men of wisdom and knowledge, of moderation and temperance, of patience, fortitude and perseverance, of sobriety and true republican simplicity of manners, of zeal for the honour of the Supreme Being and the welfare of the commonwealth; if men possessed of these other excellent qualities are chosen to fill the seats of government, we may expect that our affairs will rest on a solid and permanent foundation.”
-- Samuel Adams, letter to Elbridge Gerry (Source: The Patriot Post)
Utah Political Trivia
Q: How many lieutenant governors have served in Utah?
A: Six. The office was created in 1976, abolishing the office of the Secretary of State.
Q: Who was the last Democratic lieutenant governor in Utah?
A: Clyde Miller, who left office in early 1977, when David S. Monson succeeded him. Monson was followed by W. Val Oveson, Olene S. Walker, Gayle McKeachnie, and Gary R. Herbert, the incumbent. (Wikipedia)
National Politics
Best Stories From . . .
-- The Politico: "The ugly elbowing over which states will go first in the 2008 presidential primary process is due to explode into open warfare Saturday as the Democratic National Committee decides what to do about 'rogue' states that are threatening to violate party rules."
-- Investor's Business Daily: Editorial: "Treasury Secretary Henry Paulson says he has 'great confidence' in Federal Reserve Chairman Ben Bernanke and his handling of the credit panic. Wish we could say the same."
-- Creators Syndicate: Columnist Michelle Malkin looks at two recent incidents involving one Democrat and one Republican that symbolize "[e]verything you hate about the culture of Washington."
Blog Watch
-- At Cato-at-liberty, Adam Schaeffer says: "School choice supporters were thrilled at the passage of the first universal voucher program in Utah this year. Unfortunately, the unions got enough signatures to put the law up for a referendum vote this fall and are gearing up to demolish it.
-- At Utah State Democratic Party, Bill Keshlear praises Gov. Huntsman for having "begun laying the groundwork for an independent panel to investigate the Crandall Canyon Mine tragedy and make recommendations to ensure safety in Utah mines."
-- At Out of Context, Derek P. Jensen notes: "Just after noon Monday, Rocky Anderson's office released a detailed itinerary of the mayor's early week schedule. He was in Santa Barbara, Calif., attending a President Bush impeachment rally at a downtown plaza. The mayor, we learned, also visited a Veterans for Peace memorial at East Beach to honor Utah soldiers killed in the Iraq war. And he delivered a multimedia impeachment presentation at a veterans memorial building. But three days earlier, the city buried the news that the capital's fire chief had stepped down. Anderson's office unveiled that public-safety nugget well after business hours -- on a Friday."
Lighter Side
Best of Late Night Humor
David Letterman: “Top Good Things About Marrying Into The Bush Family”: Great deals on Fallujah honeymoon; You’ll inherit President Bush’s extensive collection of Chuck Norris memorabilia; Might see Cheney shoot an old guy; Learning from Grandma Barbara how to spit chaw; Every Wednesday is Taco Night; If half the family hates you, you still have better approval rating than George Bush; W. can lend you the “Mission Accomplished” banner to put up in the bedroom. |
