I finally learned why that stock augered in. It turns out that management was... How shall I put this? ...less than accurate about potentially catastrophic debt. (A few million here, a few million there...) A few brokerages have already slapped them with downgrades.

But, looking on the bright side, as soon as I forget my price-of-a-new-shotgun-barrel lesson and go back into picking stocks, Datek has a new feature that would have helped on this one. They have a feature they call a "trailing stop". I haven't seen this anywhere else. It's a smart stop order. You set a stop and then if the price goes up, the stop "trails" it upwards. So if you set your stop one dollar below the current price and the price goes up another dollar, your stop price also goes up a dollar. Of course, if your dealing with a volatile stock, then the "T-Stop" may boot you out when there's still some upward movement left on the price, but it sounds pretty cool.

BTW: Don't ask me for stock tips. I stink at this.

OK... Am I just being bitter?

I just dumped a stock came unglued on me today. (And the little stinker was actually in the black just a few days ago!! Grrrr...) And I'm really ticked because I keep thinking of how that money could have been spent on something of lasting value... Like a new shotgun barrel!

So I'm sitting here towards the end of the trading session and I'm watching and now I'm rooting for it finish swirling down the toilet. Is this petty or what?!

It's not like I'm some big-time trader or something, but this really has me steamed. I can't find any reason for the stock to have done this. I keep checking the news and there's nothing at all. In fact, what news I can find ought to have made the price go up!

Where's it at now... GOOD! It's heading back down. I hope it rots.

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HA!! A new low!!

Coming soon to a theater of operations near you:

War With Iraq

Starring...

George W. Bush as the President

Saddam Hussien as Roadkill

The Saudi Family Singers as One big pain in the rear echelon

And Bill Clinton as The Beaver.

---

But seriously...

Talk of the upcoming campaign against Iraq is bringing back some familiar comments from people. One of those is "Why didn't George H.W. Bush finish the job in '91?" The old answer, of course, is that we didn't have a consensus on this from our coalition allies. And we didn't. But what hasn't been asked is "why?".

The answer ocurred to me the other day. The same coalition allies who didn't want Saddam overthrown 11 years ago still don't want him overthrown today. And the arguments presented to them then, that he's a danger to them, are even more compelling today. That Saddam didn't have the weapons of mass destruction that Iraq has today. They are more likely today to be hit by Iraq weapons than they were then. So why the opposition?

Their main argument presented then holds the answer. They claimed that a worse regime could result if Saddam were thrown out. "Better the devil you know than the one you don't" they told us. It's what constitutes a "worse regime" that frightened them then and terrifies them now.

Fast forward about two years. The US has conquered Iraq. Saddam is a greasy spot in the sand and his Ba'ath Party loyalists are enjoying the Cuban sunshine. What will the US do next? History gives us a clue. What did we do in Germany and Japan after we conquered them? We set up liberal democracies in both nations. Thus it's reasonable to assume that we'd do the same in a pacified Iraq. We'd start democratic reforms. We'd also force them to adopt a free-market economy.

Now fast forward about 10 more years. Where's Iraq? Probably dominating the economy in the Arab world. Her people would be free to elect their governments, unlike any other Arab nation. They would be prosperous. They would be the envy of the "Arab Street". THAT is what constitutes a "worse regime" to Iraq's neighbors. They fear a free Iraq and its effect on their peoples.

Conquering Iraq-the-terrorist-state would be the first step in the creation of a free, democratic, Iraqi Republic. That new republic would prosper as a result of the reforms forced upon them by the Americans. The despots surrounding Iraq would have their hands full explaining to their people how the conquered Iraqis are more free and richer than they are. The blindingly obvious answer would be that the ruling families, such as the House of Saud, are to blame. They actively keep their people disenfranchised and this chills the economy; even to a point where oil revenue does not help the average citizen person. (Citizen isn't an accurate term since they enjoy none of the benefits of citizenship. They are more like chatel slaves than free citizens!) This, when compared to a free Iraq just over the border, would spell doom for their regimes. Their people would demand the same freedoms that the Iraqis will have one day. This is what they seek to prevent. And it is what they sought to avoid 11 years ago.

From the "I told you so" file comes this story from Bruce Bartlett: Smugglers cash in on tobacco

It should be noted that among the tax hikes in the proposed CA budget are increased tobacco taxes. Also, these taxes are regressive in nature. They attack the poor in far greater proportion to income than they do the EvilRich. So not only is the Democrat controlled legislature promoting the interests of smugglers, it's doing so on the backs of the poor!

---

An Update:

I just read that Assembly Speaker Herb Wesson (D) is proposing a $3/pack tax be leveled on the poor!

During the '90s, we were called
"Clinton Haters" for criticizing Bill Clinton. That label implied a mindless
hatred of the man and thus any criticism could be ignored. But the truth is that
there was much to criticize. And now Der Schickmeister has once again
reminded us of the bad ol' days at the end of the 20th Century. Slick now
contends that the disaster in Mogadishu really wasn't his fault; it was
that of George H.W. Bush. (And thus, I suppose, George W.'s by extention.)
He recently let fly with this whopper...

face="Verdana, Times" size="2">"These people ran on responsibility, but as
soon as you scratch them they go straight to blame. Now, you know, I didn't
blame his [President Bush's] father for Somalia when we had that awful day
memorialized in 'Black Hawk Down.' I didn't do that."

This
didn't sit well with the Wall Street Journal. They set the record
straight in target="_blank" title="You may need to register to read this.">this editorial.
The facts are that the ill-fated mission to Mogadishu wasn't part of the original
mission ordered by Bush the Elder. It was an entirely new mission ordered
by, guess who, Slick. And it was the Clintonista White House that denied
the use of armor and air support to the Rangers and Special Forces units.
And it was Slick's Sec-Def, Les Aspin, who had to resign over the whole affair.

I'm still alive... I'm just being lazy.

The LA Times has a href="http://www.latimes.com/news/printedition/front/la-me-carona26jul26.story"
target="_blank">feature on the terrific job done by OC Sheriff Mike
Carona in the Samantha Runnion case.



Although everyone would have prefered a happier ending, Carona did a great
job of managing the investigation. Throughout last week, I was amazed at
how well he conducted the case. What struck me was how differently the case
would have been handled had it ocurred in L.A.. I'm afraid that had it all
been centered a little further to the north, PR spin would have overwhelmed
the primary job of getting Samantha back safely. Spin would have also dominated
the subsequent murder investigation. But that wasn't the case with Sheriff
Carona.



Carona did a brilliant job of keeping the case the top story of every local
news outlet. This was important because it is what got literally millions
of eyes looking for Samantha and then her killer. Were Carona to have sent
out a flak to produce a few lines of happy talk, as I'm sure that the L.A.
authorities would have, then the case would have slipped from view and perhaps
never have been solved. Instead, Carona kept everyone focused on the case;
even at the risk of frightening people. A little fright is something that
we'll all get over. An unsolved case is not.

Now that John Magaw's out at the Transportation Safety Administration, things
are looking up. They are now going to " href="http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=28383"
target="_blank">study" the idea of arming pilots. This is opposed to
the former policy of launching into a hoplophobic tizzy at the thought of
pilots with guns.

face="Palatino, Book Antiqua, Times New Roman, Georgia, Times">"It is under
discussion in terms of should we take another approach," Mineta told the
House Transportation Committee's aviation subcommittee during testimony on
Tuesday. "I have asked [TSA Administrator James Loy] to take a look at this
to see whether or not there is some alternative, even if it is lethal weapons."

A definite improvement. As FReeper FR_addict notes, href="http://www.freerepublic.com/focus/news/721402/posts?page=3#3"
target="_blank">Barbara Boxer's defection to the pro-gun side on this
issue is probably the straw that broke the camel's back. "I think the politicians,
both Democrats and Republicans, finally figured out the public wants their
pilots armed."

Good news for those of us who fly: John Magaw has resigned from the Transportation Security Administration. Magaw is one of those who felt that the only weapon that should be in the cockpit of a hijacked plane should be the AMRAAM missile flying through the cockpit of said aircraft. Now, with a little help from Barbara Boxer, perhaps we'll have pilots who are armed with more than harsh language.

---

OK... OK... OK... So I haven't been keeping this up to date. The truth is that I didn't notice anything that seemed, at the time, to be worth the bandwidth. I could probably go back and fill in what I neglected; but why? It would be old news.

To the Left of Barbara Boxer...

Deroy Murdock points out that the Bush White House is now to the left of Sen. Barbara Boxer when it comes to arming pilots. I never, ever thought that I'd agree with Boxer on any issue. I agree with her on this. The idea that an AMRAAM missile should be the first, last, and only line of defense against terrorists entering a cockpit is absurd. Murdock picks off the arguments against arming pilots like an IPSC shooter knocking down plates.

Michael Bellisiles is at it again and Eugene Volokh finds Bellisiles' view of "history" interesting to say the least.

---

Matt Drudge is reporting that Rep. Dick Gephardt (D) may have gotten some sweetheart loans from DNC bagman Terry McAuliffe.

---

Does CNN know something about Pasadena, CA, where I grew up, that I don't? Like the presence of OIL REFINERIES?!?

There's yet another unsubstantiated, vague threat warning issued by the Feds of a possible terrorist strike on the oil refineries of Pasadena TEXAS. But CNN just now had a reporterette going off about the refineries in my old home town. And it wasn't simply a case of her getting confused and substituting the name of the well-known home of the Rose Parade; the chiron at the bottom of the screen also said "Pasadena, Calif." as she spoke. In other words, a copy writer and then an editor blew it. But, it's the poor reporterette who is now probably going to be the butt of a Texas-sized crop of jokes.

An Update: CNN seems to have caught on to the rest of the story. That being the part where Federal and local officials in Pasadena, realizing that there aren't a whole lotta oil refineries in town, call Pasadena, Texas to warn them.

Spin City...

Compare these three headlines and lead-ins. Notice anything strange?
Would you believe that all three are for the same story?

---

align="center">

face="Helvetica,Arial,Sans-serif"> Davis ekes out 7-point lead over Simon Field Poll shows voters against hopeful rather than for governor href="mailto:lgledhill@sfchronicle.com">Lynda Gledhill, Chronicle Sacramento Bureau	src="http://www.sfgate.com/templates/types/gatemainpages/images/clear.gif" width="10" height="1">	face="geneva,arial,sans-serif" size="1" color="#990000"> Thursday, July 11, 2002 href="http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2002/07/11/MN184694.DTL#sections"> src="http://www.sfgate.com/templates/brands/chronicle/images/chronicle.gif" width="150" height="36" border="0">
href="http://www.sfgate.com/cgi-bin/object.cgi?object=/chronicle/pictures/2002/07/11/mn_pollgraph.jpg&paper=chronicle&file=MN184694.DTL&directory=/c/a/2002/07/11&type=news" target=""> src="http://www.sfgate.com/chronicle/pictures/2002/07/11_t/mn_pollgraph_t.gif" alt="Click to View" vspace="1"> src="http://www.sfgate.com/graphics/homepage/blackdot5x7.gif"> href="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2002/07/11/MN184694.DTL&type=chart">chart attached Sacramento -- Despite Gov. Gray Davis' problems with a state contracting scandal, a budget deficit and criticism over his fund-raising tactics, California voters reluctantly give him a 7-point lead over Los Angeles businessman Bill Simon, a Field Poll released today shows.

href="http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2002/07/11/MN184694.DTL"
target="_blank">Link

---

Davis keeps lead on Simon

Despite unfavorable ratings, the governor edges his GOP rival.

By Amy Chance -- Bee Political Editor

Published 2:15 a.m. PDT Thursday, July 11, 2002

Buffeted by budget struggles, critics' focus on his fund raising and
lingering concerns over his leadership on energy issues, Gov. Gray Davis
nevertheless maintains a lead over Republican challenger Bill Simon as he
seeks re-election in November, according to a Field Poll released Wednesday.



The Democratic incumbent remains unpopular with voters, however, and his
advantage over Simon has slipped since a post-primary survey taken in April.

href="http://www.sacbee.com/content/politics/story/3528410p-4554552c.html"
target="_blank">Link

---

align="center">

Posted on Thu, Jul. 11, 2002	src="http://www.bayarea.com/images/component/topstory_fromthe_txt.gif" width="46" height="13" border="0"> src="http://www.bayarea.com/images/logos/site/bayarea/mercurynews/archives_title.gif" alt="story:PUB_DESC" border="0">	src="http://www.bayarea.com/images/common/spacer.gif" width="15" height="1">
src="http://www.bayarea.com/images/common/spacer.gif" width="1" height="10">
Simon cuts Davis' lead in half By Laura Kurtzman Mercury News align="right"> class="body-content"> Republican Bill Simon has cut Democratic Gov. Gray Davis' lead in half -- to 7 percentage points -- but voters are becoming disenchanted with both candidates, according to a new Field Poll. Half the electorate disapproves of Davis, and a growing number of voters views Simon in negative terms. Some are turning to third-party candidates, whose support has reached 9 percent, the highest level in 10 years.

href="http://www.bayarea.com/mld/mercurynews/news/local/3641463.htm"
target="_blank">Link

---

Yup... All three are covering the same Field  Poll. This is what's meant
by "spin". Two writers make bad news for Davis look good, while the third
takes bad news and makes it look worse. (Yes, this poll really is bad news
for Davis. He should be doing  much better at this point in the game.)

IT MUST BE THE END OF THE WORLD AS WE KNOW IT!!

BARBARA BOXER SAID SOMETHING THAT MAKES SENSE!!

An Update: The House has passed the bill to allow trained pilots to carry firearms. Let's hope that Sen. Boxer can help find enough votes to get this through.

---

Is Daniel Pipes making a " target="_blank" title="Earth to FBI...">rush to judgement"? I think
not.

Blame it on bin Laden?

There's still more info suggesting a link between the LAX terrorist and Al Qaeda. I wonder if the FBI is reading any of these stories.

---

Jonah Goldberg goes after the PoMo Virus. More specifically, he takes the Postmodernists to task for their contribution to the truly stupid and obnoxious things that some people have said since 9-11. The effects of that non-value system are, of course, broader than that. Thanks to the PoMo virus, we have millions who cannot seem to tell right from wrong. And we wonder why we get behavior like at Enron or Worldcom? If there is no distinct right or wrong, then who's to say that shredding documents or faking financial records is really bad? Perhaps the corporate values at Worldcom were merely "different", but not wrong. There's a saying: "As you sow, so shall you reap." We've taught several generations that there is no objective right and wrong. They seem to have learned their lessons well.

---

Eugene Volokh is wondering about those City of LA recycling cans.

This makes me wonder: Has anyone tried to figure out whether the recycling program requires more trucks and more truck trips? It's possible that it doesn't, but it seems possible that it might -- I just don't know. And if it does require extra trucks and extra trips, then I wonder how one would balance the supposed environmental benefits of the recycling program stack up against the costs -- the financial costs, the environmental costs of the extra fuel consumed, the environmental costs of the extra exhaust produced, and the traffic burdens caused by the extra trucks.

He goes on to speculate as to the efficacy of government sponsored (read: politically motivated) environmental programs in general. He points out that, while he's not really an expert on environmental matters, there's something fishy about the whole thing. He has good reason to be skeptical of the "blue cans". The last I heard, the City of LA wasn't selling any of the collected recyclables. The reason? The price they'd get for the material doesn't cover the cost of collecting it. They're holding onto it in hopes that the price will rise one day.