Apr 4, 2003 | Dollars & Crosses
In a recent email sent to us, MRC's Brent Baker reports:To MSNBC anchor Keith Olbermann, an American gas station employing the publicity gimmick of giving away some free gas to those with cars displaying a U.S. flag is "purchased patriotism" just as despicable as the Iraqi regime using civilians as human shields and "forced suicide bombers" because, amongst those "waiting for their five free gallons, were a few who weren't really that gung ho about the war but just stuck a flag in their windshield wiper to get the gasoline gratis." Olbermann mightily lambasted: "Purchased patriotism is one of the things we're fighting against."
Here is the actual text of the MSNBC report as taken down by MRC analyst Brad Wilmouth:
"And we leave you tonight with one final Countdown item. There is supporting the troops, and there is waving the flag, and then for about an hour-and-a-half earlier this week, there was free gasoline in exchange for patriotism. The fine folks of Sunoco A Plus in Lake Ronkonkoma, New York, decided to give $10 of free gas to quote unquote, 'patriotic vehicles.' Now, obviously this is silly. It's silly in that sweet way just like when the body shop in Southern California in the late 1970s posted a sign reading, 'Lube Jobs for POWs.'
"But beyond that, there are two unfortunate aspects here. One, insightfully or naively, some anti-war protesters are claiming an unfortunate link between this conflict and big oil, meantime somebody else is giving away gas to anybody who will paint their mud flaps red, white and blue, and how bad does that look?
"And secondly, and more seriously, I don't think I'm going way out on a limb here to assume that somewhere in that block's long line of drivers near Lake Ronkonkoma waiting for their five free gallons, were a few who weren't really that gung ho about the war but just stuck a flag in their windshield wiper to get the gasoline gratis. Unintentional or not, that's purchased patriotism. And as we are reminded every time we hear about Iraqi human shields and forced suicide bombers, purchased patriotism is one of the things we're fighting against."
Isn't "purchased patriotism"--the giving away of free gas for flying the American flag--protected by the right to free speech, property, and liberty, just as the evil nonsense espoused by the "anti-war protestors," that Olberman takes so much effort to quote, is protected? So who are the "we" that are "fighting against" it? Perhaps Olbermann is angry because there is no free gas for those Peacemongers who burn the American flag ad opposed to flying it. Ah, the "corruption" and "discrimination" of American capitalism. MSNC has some nerve calling itself "America's News Channel."
Apr 4, 2003 | Dollars & Crosses
In the opening paragraphs of InterMarket Forecasting's April 4, 2003 edition of Investor Alert, Economist Richard Salsman writes:Now, more than ever, equity investors should pay attention to the message being delivered by gold. Let the neophytes get their 'news' from biased reporters like Peter Arnett and Geraldo Rivera -- or from the media sheep who nip at the heels of U.S. military leaders in daily briefings at Central Command in Qatar. And let the Keynesians persist in dismissing gold as a 'barbaric relic.' It's no such thing -- and in recent weeks it's been predicting a swift and decisive U.S. defeat of the real barbaric relic, a.k.a. Saddam Hussein.
A rising dollar-gold price reflects a depreciating dollar and a 'flight to safety' -- which is bearish for U.S. equities. In contrast, a declining gold price reflects an appreciating dollar and a return to risk taking -- which is bullish for U.S. equities. Gold provides an objective, market-based measure of how the war is going, whether the U.S. is likely to achieve victory and how long the war will last. During the early 1970s, amid the disastrous Viet Nam War, the gold price increased by nearly 430%, from $35/ounce in 1968 to a peak of $185.4/ounce (average) in December 1974; thereafter the gold price began to decline -- an indication that the badly-fought war would soon end. It did -- when the last U.S. troops pulled out five months later (in May 1975). [Richard Salsman, CFA, Investor Alert, April 4, 2003]
Several pages later Mr. Salsman adds a few caveats, under the sub-title "How to snatch defeat from the jaws of victory":
Much as we're pleased with the U.S. war effort to date -- and see it as (near-term) bullish for U.S. equities -- we're not nearly as bullish as we could be.
There are two main reasons for this. First, current evidence indicates that the U.S. government might resume, after its military victory, its haggling with the terrorist-sponsoring U.N. and giving it (and its anti-liberty principles) sway in Iraq. If the U.S. does that, its military victory will have been wasted and, however slowly, Iraq again could become a threat. After all, similar mistakes were made in Afghanistan -- where Al Qaeda and the Taliban (and the U.N.) still have a presence... [Richard Salsman, CFA, Investor Alert, April 4, 2003]
All in all a very good read.
Apr 4, 2003 | Dollars & Crosses
Gore defends the Dixie Half-Wits:
The Dixie Chicks controversy continues with the trio getting some support from former Vice President Al Gore. Gore spoke to a college audience last week on the subject of fewer companies owning more media outlets, and what he sees as the increasing lack of tolerance for opposing views. According to the Tennessean, Gore used recent attacks on the Dixie Chicks that followed anti-war comments by Natalie Maines as an example. Gore told the audience, "They were made to feel un-American and risked economic retaliation because of what was said. Our democracy has taken a hit. Our best protection is free and open debate." [Yahoo Launch]
So "free and open debate" is only permissible for those who support anti-American causes, but not for those who oppose them? Excuse me, Mr. Gore, but this isn't Cuba.
Dollar: Faith Hill Supports Troops
Compare the bile of the Dixie Chicks to actions of Faith Hill and her husband Tim McGraw, who have held free concerts in support of American troops:
More than 10,000 men and women stationed at Fort Bragg in Fayetteville, North Carolina showed up to see Faith Hill perform a free concert at Hedrick Stadium. Outside the stadium, thousands lined the street hoping to catch a glimpse of Hill. The superstar arrived in the state Wednesday (February 12) night accompanied by her husband, Tim McGraw. Upon her arrival, Hill met with base commanders and various military personnel before meeting with more than 100 enlisted who are being deployed to the Middle East. "That was an experience that I will never forget," said Hill...The trip itself was a morale booster for the troops, but also for Hill. "This trip has made me proud--proud to be an American, and proud to see how music can serve a higher cause," said Hill. "I have given what I can, my music, and I hope that it will allow these brave men and women to escape (if for only a few moments) the seriousness of their situation and to help them in some way to deal with whatever might lie ahead. I cannot thank the people at ABC, Fort Bragg, and Pope Air Force Base enough for making this a truly unforgettable experience and for allowing me the honor of performing for them." Hill's current album, Cry, has sold more than two million copies.[Yahoo Launch , 2/11/2003]
Faith Hill and Tim McGraw will perform at a benefit concert for the USS Cole Fund on December 2 at the Hampton Coliseum in Hampton, Virginia. The concert was added to the last leg of the couple's wildly successful Soul 2 Soul tour in an effort to support the families of the 17 American sailors who were killed in the bombing of the USS Cole in October. Of the concert, Rear Admiral Christopher W. Cole said, "The Navy is very grateful that two incredibly talented performers like Faith Hill and Tim McGraw have volunteered their support to the families of the sailors from the U.S.S. Cole who sacrificed their lives for their country. It is wonderful to see our nation come together in this very challenging time." [Yahoo Launch, 11/9/2002]
Message to readers: Exercise some free speech, by voting with your pockets books, and buy albums from Faith Hill and her husband Tim McGraw instead of the Chicks.
Apr 3, 2003 | Dollars & Crosses
Reports the April 3rd edition of Denver's Rocky Mountain News:Incensed fans walked out of Pearl Jam's concert Tuesday after lead singer Eddie Vedder impaled a mask of President Bush on a microphone stand, then slammed it to the stage...Most of Vedder's antiwar remarks earlier in the Pepsi Center show were greeted with mixed cheers and scattered boos. But dozens of angry fans walked out during the encore because of the macabre display with the Bush mask, which he wore for the song Bushleaguer, a Bush-taunting song from the band's latest album, Riot Act.
Apr 3, 2003 | Dollars & Crosses
From Cox and Forkum:
To which Allen Forkum adds: "Fox News reports that controversial Columbia professor has gone into hiding. Coincidentally, as the professor had disgustingly wished, a U.S. Black Hawk Helicopter Shot Down Near Karbala; 7 Killed." For further reading: American Academics Who Hate America and this news item by Paul Blair.
Apr 3, 2003 | Dollars & Crosses
From Yahoo News, American POW Leaves Iraq After Rescue: documents the capture and resuce of Jessica Lynch, a 19-year-old Army supply clerk:The 507th was attacked March 23 during some of the earliest fighting in Nasiriyah, where Saddam's Fedayeen loyalists and other Iraqi fighters are said to have dressed as civilians and ambushed Americans. Lynch fought fiercely and shot several enemy soldiers during the ambush. She fired her weapon after she had several gunshot wounds and kept firing until she ran out of ammunition, The Washington Post reported in Thursday's editions. She watched several soldiers in her unit die and was stabbed when Iraqi forces closed in on her position, The Post quoted U.S. officials as saying. [...] In Tuesday's raid, U.S. forces engaged in a firefight on the way into and out of the hospital but there were no coalition casualties, Brooks said. [...] "Some brave souls put their lives on the line to carry this out," Brooks said.
