Daily Update: Kim Jong IL Awesome Weekend Edition

Their continues to be no positive end in sight to the financial problems hitting the United States and the world, though we suspect that since we have put the economic system into the operating room, potential structural stability is not too far away. The day to day economy will continue to unravel into the next year, but we won't be worried that our bank will suddenly collapse, putting our $100 bucks in jeopardy (onto FDIC books).

But things are not quite so bad all over. For example, if you are a North Korean dictator, isolated in your world, you had an awesome weekend. You are no longer part of the Axis (of Evil) and a terrorist sponsoring state. Come out of the cold and into the ample bosom of American trust Dear Kim Jong-Il. Some people might say this is too much carrot, not enough stick, or cart before the horse. We suspect Bush is anxious to get progress on the record in his waning days.

"President George W. Bush struck North Korea from the terrorism list this
weekend after Pyongyang agreed to allow inspections to verify a nuclear
declaration that the Stalinist state made earlier this year. "

(FT)

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While we are not actually looking for news that bolsters vice presidential candidate Sarah Palin, this AP article in U.S. News proves rather nit picky in title. "Palin has mixed record as fiscal conservative," it tells us, though in reading the details we are impressed with how she handled Alaska's budget. We can argue over her choice in leaving the town of Wasilla in debt, but the citizens did approve the bonds and tax increases for the sports complex. In other words, her choices in aggregate seem to be fiscally responsible and in tune with voter interests. (Though she is still far too superficially prepared to be a breath away from leading the nation).

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In the interests of fairness, we will engage in some anti-Obama analysis. His rise has been amazing, and contrary to the concerned warnings of Hillary (that white people would be too racist to vote for him), he has managed to stay competitive. Which makes us wonder how this "that one" (to quote Cain) has managed to perform so well. Hmmm. McCain was never strong on the economy, and here, in time for the election, the entire financial system is falling apart? Coincidence? Or are dark forces in the Democratic Party manipulating the system to put a black man in office and introduce socialism to this great land?

Further evidence of dark conspiracies afoot? Over on Huffington Post, outpost of all things liberal and Obama, there are reports of an Obama monkey doll being waved at a Palin rally. Of course this is not what it seems, but rather, Democratic Party plants in the audience secretly making the crowds at Palin and Cain rallies appear more anti-monkey than they might possibly be. Of course when the truth comes out, it will be too late under the Obama Socialist state. So go head and shake your monkey. Curous George indeed!

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24 Hours and then?:

As world leaders and bankers gathered in Washington for the weekend Group of Seven and global financial body meetings, Dominique Strauss-Kahn, International Monetary Fund managing director said: “Intensifying solvency concerns about a number of the largest US-based and European financial institutions have pushed the global financial system to the brink of systemic meltdown.”

Josef Ackermann, head of Deutsche Bank and chairman of the Institute of International Finance, representing nearly 400 of the world’s largest banks, said the next 24 hours was a ”critical moment” for the world financial crisis. ”If we miss this opportunity we will have more deterioration” in markets, he said.

(FT)

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The bipartisan legislative committee reported announced that Palin had violated ethics laws:

The investigation said she violated Alaska Statute 39.52.110(a) of the Alaska Executive Branch Ethics Act, which states, "… each public officer holds office as a public trust, and any effort to benefit a personal or financial interest through official action is a violation of that trust."

When asked for her thoughts on the matter, Palin, resplendent in a fashionable pair of self designed rose colored glasses, spoke forth with the type of honesty we expect from the McCain campaign:

Palin said she's happy the report affirmed her right to fire Monegan. But shesaid she still doesn't think she abused her power like the report says she did. In fact, she said she considered herself vindicated.

In a briefconference call with press reported by the Anchorage Daily News, Palin said,"I’m very, very pleased to be cleared of any legal wrongdoing … any hint of any kind of unethical activity there. Very pleased to be cleared of any of that."

(CBS)

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A (catty) fish story featuring John McCain from the New York Times:

Vietnamese sell catfish to United States. United States catfish growers get angry, push to block the Vietnamese catfish, called Pangasius. "You can't call that catfish," say North Americans trying to protect their market. McCain thinks all catfish are brothers, pushes for Vietnamese catfish to be free to be catfish in North America, to no avail. Bill passes in 2001, reserving catfish name for American born channel and other catfish. U.S. farmers later win anti-dumping petition. Pangasius turn to Europe. Europe eats lots of Pangasius. It's yummy. Vietnamese happy. U.S. farmers still hurting with high production costs. China decides to step into the business. China adopts American catfish to sell back to Americans as catfish. Everyone is afraid.

The moral of the story? Don't ignore China if selling catfish.

If there is one point of common ground for Vietnamese and American fish
farmers, it is a dread of the world’s largest aquaculturist: China. Chinese
researchers now travel the world in search of species that will thrive on their own farms and have developed aquaculture programs for both North American channel catfish and Vietnamese Pangasius. Here, all questions of names and standards crumble under China’s drive to sell at the cheapest price.