Archive for September, 2008

Behind the Scenes: Coffee
September 30, 2008

When our Director Rusty Knight has his coffee, nothing else matters…

Rusty Knight, Director

 …including giving no direction to our Technical Director Jeremy Staible…

Jeremy Staible, Technical Director

…which is beyond me, because the coffee’s not that good anyway.

Weak Watered Down Folgers, MMMmmm

 

It’s Getting Hot in Here!
September 29, 2008

Before you talk smack for us complaining about the studio temperature, it’s hotter than it seems in a suit under the lights.  You see, the studio should be under 70 degrees to protect the equipment and the anchors from sweating.  A few degrees makes all the difference.  Last week it was 65 and Lauren needed an electric blanket.  This week, it’s about 74 and we’re getting damp with sweat.  Gross.  Sorry.  Here are Floor Director Kevin Manuel and Meteorologist Anthony Yanez playing with a fan:

Venezuela and Russia Get Cozy… Again.
September 26, 2008

Chavez & Putin in Moscow (9/25/08)

It’s easy to forget foreign policy issues when we’re recovering from a storm, and trying to recover from this financial crisis.  So here’s your reminder: Russia and Venezuela spent a little quality time this week in Moscow.  Fresh off his trip to China, Venezuelan Prez Hugo Chavez and the former Russian Prez Vladimir Putin had a photo-op yesterday (Chavez is supposed to meet with the current Russian Prez Dmitri Medvedev today).  Russia might offer Venezuela help developing nuclear power.  Recently, Venezuela let Russia perform military exercises within its boundaries.  Venezuela has purchased billions in Russian arms in the last few years.  So, we’ve got two U.S. rivals working together more than ever.  It’s not a crucial development in world affairs, just a reminder of the global power struggle that’s underway.

Real Crisis, Real Solution
September 25, 2008

The world is not ending. But the potential for a terrible economic downturn is real.  Ask almost anyone about the current economic crisis in our U.S. of A., and they’ll probably admit they don’t understand a) what’s going on, b) how we got here, or c) how to fix it.  Me neither.  Not completely at least.  Heck, there are plenty of executives and others in charge who are as confused as the rest of us.  That’s not to excuse anyone nor the mistakes that were made, but to illustrate the complexity.  While this latest ‘crisis’ got serious a couple weeks ago, it’s been brewing for years.
Bernanke, Bush, Paulson, & Cox

The Bailout Boys: Bernanke, Bush, Paulson, & Cox

What most of us do understand and agree on is this: There ain’t no way we’re bailing out fat cats on Wall Street with taxpayer money.  Well, that’s not what this bailout is about.  It’s literally the government and us taxpayers coming to the rescue, relieving an emergency financial situation that’s affecting all of us.  It’s my goal everyday to boil stories down to their simplest.  Can’t do it with this one.  But relax!!  Everything’s gonna be fine.  Know how I know?  Warren Buffet said soAnd we should listen to him.  Buffet has had experience in this kind of fiscal trouble before.  The truth is, the $700 billion rescue package could actually make us money.  In that case, we ought to replace the description “bailout” with “investment.”  Buffet said if he had the money, he’d fund the deal himself.  But there’s only one entity (we trust) with those resources and the time to wait for the $700 billion to pay off, and that’s our government.
Buffet Buffs Fiscal Fears

Buffet Buffs Fiscal Fears

So, the deal is almost done.  Democrats and Republicans could make an agreement by the end of the day.  The bill could be signed by the time the markets open Monday.  By most accounts, President Bush set it up well in last night’s speech, doing a great job explaining the risks of doing nothing, and reassuring us that we’ll survive.  Now just because Congress acts fast, doesn’t mean the economy will rebound in a week.  Some financial experts are predicting a real recession late this year into 2009.  The economy will likely remain slow for a time, but a complete meltdown can and should be avoided.  And major reform is needed to protect us in the future.  Meantime, save your money!!
Now, no economic blog post would be complete without perspective from “Mr. Financial Common Sense,” Dave Ramsey.  He’s the no-nonsense talk show host who pushes a debt-free lifestyle.  Obviously it’s easier said than done.  His idea, as opposed to the bailout, would basically have us insure the bad mortgages instead of buying them.  It’s an interesting take on the situation.  There are other opposing ideas from leaders like former Prez-candidate Congressman Ron Paul, but at this point it seems like the bailout train in running with no brakes.

A Night With Ike
September 24, 2008

KPRC Local 2 viewer, Colby Brotherton, put together this YouTube video of his “Night with Ike.” It’s pretty cool and we wanted to share it with you. Thanks Colby!!