Video Allegory of Being a Cubs Fan

Well, for the hundredth straight year the Cubs have disappointed their fans, this time getting swept in the first round of the playoffs after having the best record in the National League. I believe that being a Cubs fan takes optimism and hope, despite all the evidence. This video pretty much sums it up. You only need to watch the first minute and a half.

Charlie is me, and Lucy is the Cubs.

Does the "Prosperity Gospel" Share Blame for People's Bad Finances?

Time has an interesting, though brief, article on their website today with musings from some theologians who say congregants at prosperity gospel churches may well be highly represented amongst those who have overextended themselves financially. (LINK) The hypothesis is that such congregants were told that God will create prosperity for them if they "step out in faith" and thus many of these folks may have taken out mortgages they cannot afford under the assumption that God would bless them for doing so. I'd guess that at least some people acted in this way, and that's a shame. In fairness, the article fails to provide proof of the contention that prosperity-theology followers took out more bad mortgages and loans.

PS: The story at the end of the article isn't necessarily magical and could have been an answer to prayer. Also, the mortgage trouble the person was in may or may not have been a result of irresponsible borrowing.

A Well Deserved Spanking on the Economy

Victor Davis Hanson's column today points out that greedy, irresponsible consumption on the part of the American consumer has as much to do with the current financial crisis as the greedy, irresponsible behavior of the Wall Street fat cats. He's right.

A Smart Move Politically: McCain Campaigning Halt and Call for a Debate Postponment to Work on Wall Street Bailout

John McCain is the underdog in the '08 presidential election (my official prediction for months now has been that Barack Obama wins by about 4% in the popular vote and gets about two more states than he needs in the Electoral College). However, I have been very impressed by the campaign his political advisers have run for him. From the "superstar" ads to the pick of Sarah Palin, they've made some bold moves, probably because they realize they are going to have to take some chances to win. McCain's announced suspension of campaign activities and Friday's foreign policy debate for the purpose of going back to Washington to work on the Wall Street bailout legislation is another bold move and one that I believe will work in McCain's favor.

Senator McCain had pulled even with Sen. Obama in the polls following the Republican convention. However, the failure of Lehman Bros., the government bailouts of Fannie Mae, Freddie Mac, and AIG, and the proposed $700 billion bailout of the financial services industry through purchases of troubled mortgage backed securities is a potentially fatal blow to McCain's campaign. The average American is angry that over $1 trillion dollars could be used in assistance to Wall Street companies, while similar feeding from the government trough is not afforded the common man. Because people generally associate Republicans with favoring big business and Wall Street, that anger is being directed more towards Republicans and thus John McCain, as shown by recent polls that McCain is falling behind by about 5%-10%. Even if the bailout were approved and it succeeds in stabilizing the market, voters will still be extremely angry about such a large expenditure of taxpayer money going to the rich, which will allow Sen. Obama to use populist rhetoric effectively against McCain by associating his party with favoritism to Wall Street.

McCain's only hope is to come out strongly as an advocate for the "common man" and hammer "big business" and Wall Street for its irresponsibility. McCain's move to suspend his campaign and head back to Washington to work on the pending economic legislation is a gambit that can help him do this, particularly if Obama is stupid enough to keep campaigning and isn't a major part of the negotiations in Congress. For it to work, McCain will need to be out in front of the issue, lambasting Wall Street and demanding it be held responsible, while also insisting on reforms to protect the common man; news reports will not be able to avoid reporting on McCain if he is forceful and loud enough. McCain will also need to actively criticize both proposals by liberal Democrats and conservative Republicans as needed to establish his reformer credentials in a time of crisis. Then, he needs to pick a limited number of negotiating demands and either make sure they are in the bill or rip the President and Congress for not enacting his proposals. Through this, McCain can portray himself as a man of action who is fighting "for the people" and putting "country first" while Obama talks about the problem in his campaign stops. McCain will have to be forceful and get some results, the latter of which makes this the risky move that it is since Congress could certainly pass something deeply unpopular with the American people, or even worse see the market go into a tailspin despite passing a plan which will result in McCain being more closely identified with a failed plan even if both he and Obama vote for it. However, when the odds are against you, you need to make bold political moves and I think this one was worth making. It also has the additional value of being the right thing to do as John McCain is an member of the Senate and as such should be involved in negotiating the bailout package.

Merkle's Bonehead Play: The First Famous Sports American Sports Blunder

Today is the 100th anniversary of "Merkle's Blunder," which allowed the 1908 Cubs to go to the World Series (their last title) and cost the New York Giants the pennant. Late in the season, the Cubs and Giants were tied 1-1 in the 9th inning and the Giants had baserunners on 1st and 3rd base. The batter, Al Bridwell sent a base hit into the outfield and the runner on third came home. However, a young 19 year old ballplayer by the name of Fred Merkle was on first base. When the winning run scored fans stormed the field and Merkle didn't touch second base, which as it turns out was the custom of the day but was illegal under the playbook. Well, Cubs 2nd baseman Johnny Evers got the ball, went to the umpire and stepped on the bag. After deliberation late into the night (the game took place in the era before stadium lights) Merkle was called out and it wa decided that the game wouldn't count. Newspapers blared headlines about "Merkle's Bonehead play." The Cubs and Giants finished the season tied and the game was replayed at the end of the year with the Cubs winning 4-2. Poor Fred Merkle cost his team the championship and would never outlive the moment as folks called him "bonehead" for the rest of his life. There are plenty of other interesting facts about the story that can be found in an excellent New York Times story here and a good ESPN story here. If you are a fan of baseball or just a fan of sports it's worth your time to check it out.

ESPN Is Right, For Us Cubs Fans There Is No Love Lost

Well, my beloved Chicago Cubs clinched the NL Central Division crown Saturday and a playoff spot where they will have the opportunity to do something that they haven't done in 100 years--win the World Series. ESPN.com recently produced a good feature on Cubs fans called No Love Lost that consists of video interviews and accompanying article of 10 different Cubs fans, each representing each of the 10 decades since the last time the Cubs won it all. Cubs fans are without a doubt the most loyal fans of any team in all of sports and you'd be surprised the number of little life lessons you can take from being a Cubs fan:

• The importance of loyalty and sticking by your commitments.
• Learning to enjoy the good you receive without bemoaning what you don't have.
• Having hope and optimism for better things despite experiencing disappointment after disappointment.
• Some things in life are worth waiting for.
  

If you are a baseball fan or sports fan in general, it's worth a look, particularly for the septuagenarian Cubs fan interviewed for the 1908-1909 time period and the ex lobbyist who started the Emil Verban Society.

Who, Exactly, is Irrational and Superstitous?

Many people like to portray religious believers as superstitous rubes who do not believe in science and ignore hard facts and data in favor of superstition. However, it appears that this belief is not based on empirical facts or data. Today's Wall Street Journal has a column by Mollie Ziegler Hemingway that focuses on a recently released Baylor University poll and study conducted by Gallup indicates that Evangelical Christians are the least likely people to believe in paranormal activity than other groups, while athiests and the irreligious are the most likely. The article reveals some "interesting" beliefs held by the virulently anti-religious Bill Maher as well.

Hat Tip: NRO's The Corner

Understanding the 2008 Mortgage Loan Financial Crisis

NPR’s This American Life has produced the best explanation in easily understandable layman’s terms I’ve heard regarding the causes of the current financial meltdown. This is a "must listen" if you want to understand exactly what happened. Click on the orange “full episode” link on the left side of the webpage to listen.

For a great explanation of how “credit default swaps” sunk AIG, check this article out.

Rank greed and foolishness on the parts of many homebuyers, mortgage brokers, banks, investment houses, and investors has resulted in the meltdown we currently face. Understanding the financial crisis is simply exercising wisdom. The sad thing is that simple common sense would have saved many people a lot of money and heart ache. It made as much sense as the price of a Toyota Camry rising from $21,000 to $40,000 and expecting the same person who can essentially afford to make a $400 a month car payment over 5 years to pay off that $21K Camry to now be able to pay off the $40K Camry during the same time frame simply by giving them a low interest rate at the start. On its face, it is a ludicrous proposition.

Understanding the Fannie Mae/Freddie Mac Crisis

Here is a great C-Span video interview with Peter Wallison, who served as general counsel to the Regan Administration and counsel to the US Treasury Department. Definitely worth watching if you want an education on the reasons why they failed and the irresponsible actions that lead to their failure.

LINK

Hat Tip: Jonah Goldberg, NRO's The Corner

PS: I'm going to try and blog a bit more and get back in the swing of things. Let's hope I keep up with things...

William F. Buckley, RIP

In honor of the life of Bill Buckley, here are some links and videos that pay proper tribute to the man:

The New York Times Obit

Buckley on Faith in God

An anecdote showing Buckley's good humor, character, and his respect of ideological opponents.


(hat tip to National Review Online)

Emergent Church Pretensions

Quite frankly, this little spoof article does more to explode some of the internal contradictions and pretensions of the "emergent church" movement than most any scholarly article could.

The Speak Foundation

Here is the link to The Speak Foundation website, the non-profit that Miss Kathryn Bryant is starting to help childiren and young adults with physical disabilities. The foundation is focusing first on creating mentoring programs in public schools for children with physical disabilities, the goals of which are to help youngsters learn to deal with their disability, encourage them to achieve great things with their lives in spite of the disability, and to provide the opportunity for friendship with people who have experienced the challenges that such disabilities pose. It's a good idea and a great cause. Keep it in mind once the non-profit status is achieved if you have some additional money to give to charity.