The Pink Panther 2

for those who grew up seeing peter sellers play the pink panther, nobody will ever do it like that. that said, i give this latest pink panther a medium bag of popcorn, no butter, no drink, no milk duds. sorry. it's mildly funny. they try hard. i think what's needed is a better script. at any rate, it's fun entertainment, and laughter was heard in the theatre. it's not the funniest comedy i've seen, but it will do.
to view my films, see them on YouTube under, "franklandfields". enjoy. peace out.

interesting stuff...

http://news.yahoo.com/s/ap/20090215/ap_on_go_pr_wh/ranking_presidents

Slumdog Millionaire

this is one of the best films i have seen this year. i give it a full bag of popcorn, with extra real butter, and a large refillable all-you-can-drink drink, and a bag of chips. this is a movie you must not miss. i really enjoyed it, and you should stop reading NOW if you don't want to know any more about the movie. one of the reasons i liked this film so much is because it has what i want from every movie and out of life: a happy ending.
hope i haven't spoiled it for you. enjoy. peace. on YouTube under, "franklandfields". be.

defiance, the 2008 movie

all races and cultures have their stories of defiance. none is more horrific than any other, or less important. human suffering is human suffering. as these stories are told over and over in books and films, we come to understand what shakespeare said many years ago. 'we all bleed, we all cry, we all hurt, we all die', etc.
defiance the movie, with 007, is a good story and adaptation from the book. it is universally appealing, because we all have such stories in our own culture and race. i give this film a solid B. the best movie i have seen this season is, the curious case of benjamin button. any way you look at it, "an eye for an eye makes the whole world blind". www.franklandfield.blogspot.com. on YouTube under, "franklandfields". enjoy. peace.

Frost/Nixon

this is a film worth seeing. i give it a full bag of popcorn, with extra butter, and a medium drink. the movie is a good history lesson. the performances are great. the cat and mouse game between frost and nixon is entertaining. i would hope ron howard will do a similar movie about gerald ford, who of course pardoned nixon. i have seen two films this year about presidents, and they have both been magnificent. they are, W, and Frost/Nixon. i recommend both movies. frost/nixon definitely gets a thumbs up from me.
please let me know your opinion.
enjoy.
peace.
on YouTube under, "franklandfields"

President Barack Obama

it's been 3 and 1/2 days. how are you feeling? i'm still euphoric. our new president is off and running. i'm thinking these are the first days of the next eight years. what do you think? enjoy. peace.
www.franklandfield.blogspot.com
on YouTube under, "franklandfields".

i am now uploading a new film on YouTube. you will soon be able to watch it. please let me know what you think. i deeply appreciate your opinions and feedback. history is being made at this very moment. enjoy. please make a difference each and every day. peace. find the film on YouTube under, "franklandfields".

www.franklandfield.blogspot.com

Yes We Did!

Last Chance Harvey

i gladly give this film a full bag of popcorn, with extra butter, and a medium drink. this is not my highest rating for a movie, but it is close. i enjoyed the story, acting, scenery, etc...
the movie is very sweet, charming, believable, sincere, and it has a happy ending. i might even think a sequel could happen. it is certainly, in my opinion, worth the price of admission. you may even cry. i nearly did.
i could not live in london. too gray, cold, and rainy for this desert rat. i hope you'll find my opinion of this movie helpful. i'm not a critic, nor do i write reviews. enjoy. peace.
www.franklandfield.blogspot.com
on YouTube under, "franklandfields"

new film rating system

i'm giving this a try.
tell me what you think.
"a full bag of popcorn, extra butter, and a large drink" = my highest rating for a movie you must see. let's say it's the same as five stars, or an A+.
"a full bag of popcorn" = four stars, or a B.
"a medium bag of popcorn" = three stars, or a C.
"a small bag of burnt popcorn" = two stars, or a D.
"a box of sour gummy worms" = one star, or an F.
"couldn't afford munchies" = don't bother seeing this film at all, because it a sucka sucka sucka!
rating system subject to change at any time, without prior notice, like life.
"you never know what's comin'."
enjoy.
peace.

witness

HISTORY IN THE MAKING...

i hope everybody will witness history this tuesday, january 20th, 2009, beginning about 8am our time. (california time)

some compare this event to the moon landing, and if that works for them, so be it.

i say, nothing compares to the coming historical events.

if you can, stay home and watch history being made right before your eyes.

take a sick day, if you are one of the lucky ones who still has a job.

don't let this opportunity pass you by.

i plan on watching all day.

i would compare this historical event to the signing of the declaration of independence.

and that, for what it's worth, is my opinion.

www.franklandfield.blogspot.com

on YouTube under, "franklandfields"

enjoy.

peace.

gran torino

good film.
please don't miss this movie.
thumbs up.
enjoy.
peace.
www.franklandfield.blogspot.com
on YouTube under, "franklandfields"

polls, polls, polls

polls, polls, polls
Posted 1/11/2009 11:19 AM PST on MyDesert.com, and here. enjoy.

http://hnn.us/articles/47918.html

"And that's not a minority opinion. In a 2006 Siena College survey of 744 history professors, 82% rated President Bush below average, or a failure.

Last April, in an informal poll by George Mason University of 109 historians, Mr. Bush fared even worse - 98% considered him a failed president. Sixty-one percent judged him, as Ellis does, one of the worst in American history."

interesting stuff, huh?
full article here:
http://www.cbsnews.com/stories/2009/01/11/sunday/main4712837.shtml

priceless

http://news.bbc.co.uk/2/hi/americas/7809160.stm
some legacy.

485k for china?!

laura bush recently spent $485,000 for white house china. her money? or taxpayer money? any way you look at it, that's a lot of money, so maybe we can help out? how about everybody who can afford to, send a recycled new paper plate to the white house.
if you want, include a personal note, i'm sure laura and george would appreciate it.
http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=11432032&ch=4226714&src=news

an eye for an eye

you may have heard this one:
"an eye for an eye makes the whole world blind."
in terms of violence and conflict, this is certainly true.
it's probably true in most other ways too.
today i write about violence and conflict.
any violence and conflict.
not just war.
"war is never the answer."
no doubt, you've heard that one too.
in order to eliminate conflict and violence, somebody simply has to stop.
conflict and violence require two, like the tango.
what if somebody is shooting rockets at you every hour?
what is your answer? not violence.
you may die, but you won't answer violence with violence.
the world will see you in the most positive light, as the victim.
the world will demand that the violence against you be stopped.
if you have the right to defend yourself, and you defend yourself, then so does everybody else, and the cycle/circle of violence continues perpetually.
if only we could harness the energy from violence for good.
if somebody is violent to me, i will not respond with violence.
in order for there to be peace, we must eliminate violence.
we must figure out how to live together in peace and harmony.
whether this will happen before humankind is extinct, is anybody's guess.
i remain optimistic, and will continue to eliminate violence whenever and wherever i can.
i hope you'll join me.
in the meantime, peace.
www.franklandfield.blogspot.com
on YouTube under, "franklandfields"

Benjamin Button

Great movie.
Amazing film.
Thumbs up.
Don't miss this one.
Oscar.

marley and me

thumbs up for this film.
bring tissue.
you'll cry.
good movie.
enjoy.
peace.
what do you think?

happy new year

2009 will be just fine,
so sit back and relax,
and enjoy the facts,
Obama is president, hooray,
everything's gonna be OK!
bush is soon gone and forgotten,
we can now clean up all that is rotten,
the last eight years have been, well,
some would say HELL,
it will take a lot to fix what's wrong,
and we must all pitch in and be strong,
only together can we work this out,
this is what america is all about,
so stop the whining, complaining, and finger-pointing,
americans have spoken,
on january 20th, 2009,
there will be an historic anointing."
www.franklandfield.blogspot.com
on YouTube under, "franklandfields"
happy new year.
enjoy.
peace.

good talk

http://www.ted.com/index.php/talks/steven_pinker_chalks_it_up_to_the_blank_slate.html
well worth viewing.
enjoy.
peace.

my latest film

http://www.youtube.com/watch?v=Gn44_J4x1Yc
enjoy.
peace.

two films

thumbs up for:
YES MAN
and
VALKYRIE
good movies.
what do you think?

Doubt

great movie and play.
thumbs up.
probably will win oscars.
i recommend it.
peace.

7 pounds

great movie.
thumbs up.
loved it.
go see this film please.
peace.

chocolate news

chocolate news is one of the best shows currently on TV.
check it out.
let me know what you think.
peace.

from iPhone

raining today.
mother earth is enjoying it.
as is said:
"no rain, no rainbows".
and then some.
peace

shoemazing!

http://news.bbc.co.uk/2/hi/middle_east/7782422.stm

shoetastic

http://news.yahoo.com/s/ap/bush

the day the earth stood still

good movie.
i recommend it.
thumbs up.
good film and great message.
i hope everybody will see it.
peace.

did you know?

at least two people in this world love you so much they would die for you.

at least fifteen people in this world love you in some way.

a smile from you can bring happiness to anyone, even if they don't like you.

every night, somebody somewhere thinks about you before they go to sleep.

you mean the world to someone.

if not for you, someone may not be living.

you are special and unique.

when you make the biggest mistake ever, something good can still come from it.

when you think the world has turned its back on you, take a look: you most likely turned your back on the world.

someone that you don't even know exists loves you.

always remember the compliments you received. forget about the rude remarks.

always tell someone how you feel about them; you will feel much better when they know, and you'll both be happy.

if you have a great friend, take the time to let that person know.

and always spread peace.

hibiscus and two films to see

four christmas's
and
role models
for those who love to laugh
enjoy
happy holidays
peace

sleep

a friend of mine says:

"i'll get the best sleep of my life when i'm dead."

i've got something better. i am now getting the best sleep of my life AND i'm waking up afterward!

i've recently purchased a tempur-pedic bed.

the old bed was old. i cannot tell you how old, because i'm ashamed.

the new tempur-pedic bed is HEAVEN! it's difficult to describe to people who have never experienced sleeping on one, but i'll try.

think about sleeping on a cloud, filled with warm water, as if you're floating, with no pressure on any part of your body. think about waking up with NO aches and pains. think about sleeping so deeply, practically nothing bothers you or wakes you, and you rarely recall your dreams. think about your bed being the perfect temperature, no matter what temperature you or your room are. think this is too good to be true? i'm here to tell you it is not.

tempur-pedic will let you try their mattress and return it if you don't like it. they do this, because very few people return their mattress. and i know why.

it is the best sleep i've ever had. from now on, i will stay in hotels with tempur-pedic beds. i don't think i'd sleep very well on anything else.

this isn't an ad for tempur-pedic. this is me telling you how well i'm sleeping now that i have a tempur-pedic bed. this is me overjoyed with the increased energy i have from less sleep. when you sleep better, you need less sleep. it is amazing and wonderful and a bag of chips.

and now on with the rest of the day.

peace.

yes we can

http://www.youtube.com/watch?v=jjXyqcx-mYY

OK!

http://news.yahoo.com/s/ap/20081124/ap_on_go_pr_wh/bush_pardons
excuse me!
oh please!

cheney indicted

http://www.youtube.com/watch?v=MyekPLwIXHA&eurl=http://michaelmoore.com/
stay tuned.

imagine!

http://www.nytimes.com/2008/11/17/business/media/17rather.html?_r=1&hp&oref=slogin

yes we can, yes we did, and yes we will

http://change.gov/newsroom/entry/your_weekly_address_from_the_president_elect/

change

http://www.nytimes.com/2008/11/16/us/politics/16blackberry.html?_r=1&hp&oref=slogin

007

saw the latest bond picture.
thumbs up.
entertaining.
peace.

Soul Men

thumbs up.
good movie.
peace.

history times two

november 2nd, 2008, sunday
november 4th, 2008, tuesday
MAZEL TOV!

perspective

http://www.aish.com/heroesOfIsrael/heroesOfIsraelDefault/From_Ethiopia_to_Israels_Knesset.asp

who's hiding what?

http://www.huffingtonpost.com/2008/10/28/news-orgs-investigate-pos_n_138449.html

b-bye ted

http://www.mydesert.com/article/20081027/NEWS0802/81027026
oops!

FYI...

http://www.youtube.com/watch?v=_KjsEs46C70

sharing

http://www.latimes.com/news/opinion/la-oe-brooks23-2008oct23,0,2845663.column

link

http://www.nytimes.com/2008/10/24/opinion/24fri1.html?_r=1&hp&oref=slogin

quote of the day

"One of the major reasons so many of us remain hurried, frightened, and competitive, and continue to live life as if it were one giant emergency, is our fear that if we were to become more peaceful and loving, we would suddenly stop achieving our goals. We would become lazy and apathetic."

by Richard Carlson, PH.D.

from his book, Don't Sweat The Small Stuff...and it's all small stuff.

W.

i just saw W., and i endorse it, and give it a thumbs up.
i'm talking oscar worthy.
what do you think?
peace.

interesting!

http://news.bbc.co.uk/2/hi/americas/7665925.stm

city of ember

thumbs up.
good movie.
go see it.
peace.

two films to see

beverly hills chihuahua
and
religulous
both get thumbs up.

President John McCain

PLEASE VOTE ON TUESDAY, NOVEMBER 4TH, 2008!
if i were president john mcCain, here are the first ten things i'd do in my first ten days as president of our united states.
day 1 - install a state of the art emergency room in the white house. i am after all 72 years old.
day 2 - remove all the grass at the white house and replace it with environmentally friendly and water conserving plants.
day 3 - i'd have a really close look in all the white house closets. there has to be some skeletons someplace. and time permitting, go on a moose hunt with my vice president.
day 4 - i'd have my staff calculate the exact number of vacation days that george w. bush took while in office (a record) to make certain i didn't take more.
day 5 - since i've been in office now for a week, i'd take a break at one of my nine (or is it ten?) houses, and perhaps buy another pair of $300 italian shoes. they are so comfy!
day 6 - i'd telephone putin, the saudi's, and others, and make it crystal clear to them that if they misbehave, i'll start another war.
day 7 - i'd ask my military advisers and generals if it was actually possible to start another war, because i think all our troops are currently over-committed around the world.
day 8 - i'd reinstate the draft, raising the age to 50.
day 9 - i'd take a nap. it's exhausting being president, especially when you're 72 years old.
day 10 - i'd come to my senses, apologize to the american people, and the rest of the world, resign my presidency, and have my vice president resign too, and then i'd declare our new president to be President Barack Obama.
of course all this hinges on me actually being elected on november 4th, 2008.
and surviving the revolution between then and january 20, 2009.
but we all have a dream.
PLEASE VOTE ON TUESDAY, NOVEMBER 4TH, 2008!

opinion

http://www.nytimes.com/2008/09/30/opinion/30herbert.html?_r=1&hp&oref=slogin
one cannot debate the facts of history.

WOW!

http://news.bbc.co.uk/2/hi/uk_news/7637327.stm

White Tea and The CrackaHeds

announcing a brand new improv performance group available for your "special" function(s).
for bookings, contact franklandfield@yahoo.com
thanks and peace.

the latest

http://www.youtube.com/watch?v=inRMILwJa-U
OH BOY!

OK

http://finance.yahoo.com/loans/article/105735/The-65-mpg-Ford-the-U.S.-Can%27t-Have
well, OK then.
or are there "other" reasons?!

Burn After Reading

good movie!
thumbs up!

Ghost Town

thumbs up!
good movie!

keepin' it real

http://news.bbc.co.uk/2/hi/middle_east/7619179.stm

today's link

http://www.huffingtonpost.com/2008/09/13/tina-fey-as-sarah-palin-o_n_126249.html
BRAVO!

who said this?

"God made dinosaurs 4,000 years ago as ultimately
flawed creatures, lizards of Satan really, so when they died and became
petroleum products we, made in his perfect image, could use them
in our pickup trucks, snow machines and fishing boats."

"who said this" is a brand new feature beginning today.
enjoy.
peace.

RIP my friend

"Bob Beck
August 26, 2008

Grizzled, handsome, locally esteemed and internationally recognizable Camel and Marlboro man Bob Beck died at home Tuesday, Aug. 26, 2008, after a difficult battle with cancer. Soft-spoken, gentle-souled Beck, so different in persona from the rough-hewn Indiana-Jones type character that would and often did “walk a mile for a Camel” through the most harrowing elemental obstacles, seldom showed impatience and temper in his post-camera life except over two subjects — protecting the habitat that we share with fellow species, and what he perceived as the hubris and disregard of the current Bush administration for the care and wellbeing of its citizenry.
Said Beck, regarding our shared-planet responsibility, “You have to protect your resources, especially here [in Idyllwild] where we rely upon what comes from the sky. People who don’t care about their environment and the animals are greedy and self-serving. It would be a happier Idyllwild and world if people cared about such things. I really strongly believe if a person loves, respects and takes care of animals — which I put myself on equal footing with, I’m no better or worse than they are — they will respect those around them more. Those who mistreat and don’t respect animals will do the same thing with everything else around them.”
About the second Bush family presidency, Beck fumed, “I’m definitely for any government that takes care of its people and the environment, and cares. But politicians usually like to keep the power and control so that philosophy is usually fiction. But it’s what I’d like. People will disagree, which is part of being in a free society, but I’m definitely opposed to the [George W.] Bush administration. What they’ve tried to do is criminal and self-serving; they don’t have the environment or people at heart. Bush seems to only care about serving corporations’ needs, not serving humankind domestically or internationally.”
Beck was a trusted good friend and neighbor of this writer. In 2003, at the height of the bark beetle crisis when this writer had to remove scores of beetle-ravaged grandfather pines removed from his property, Beck called to offer condolences, gently understanding the sadness that came with the loss of strong, silent and seemingly indestructible friends that had weathered so many years — understanding that life, important and valuable, had passed.
Those who knew and loved big Bob Beck — his soft words, good heart, merry twinkle in his eyes, and love for family and causes that moved him — know that someone important and valuable has passed. He cut a strong, graceful and impressive swath through any crowd through which he passed. He was bigger-than-life and humbly and affably human.
“It is with great sadness that I share the news that Bob Beck died early yesterday morning from cancer,” wrote Associates of Idyllwild Arts Foundation President Jan Goldberg. “He died peacefully, in his sleep, with his dear wife Erin at his side. We will all miss Bob — that deep voice, that smile, the charm and good will that he showed us all. He will always be an inspiration to us of how to live a gentle, sweet life with family, friends and dogs. Bob, we will miss you.”
Beck was born in Oceanside in 1936, bought a cabin in Idyllwild with wife Erin O’Neill in 1981, and moved here full-time in 1997. Of his years as the Camel man, Beck said, “When I did it, I wasn’t that aware of the effects of smoking. This is one of the problems with doing such a campaign. My problem with the cigarette industry was they covered up the problems and didn’t pass them on to the public. For that reason, I wouldn’t do it today.”
Beck leaves behind his wife, Erin; son Matthew; daughters Liza, Kristen and Benedicte; and grandchildren."

from The Town Crier Newspaper, Idyllwild, California, author unknown

JC

also known as,
"SUPERSTAR"
and
"SEXY JESUS"
enjoy

no kidding

http://www.nytimes.com/2008/09/11/washington/11royalty.html?_r=1&hp&oref=slogin

link of the day

http://news.bbc.co.uk/2/hi/science/nature/7600005.stm
NO KIDDING!

facts

http://news.yahoo.com/story//ap/20080904/ap_on_el_pr/cvn_fact_check

RIP

http://news.bbc.co.uk/2/hi/entertainment/7595352.stm
we will miss you.
peace.

good article

http://www.alternet.org/story/97112/
what do you think?
and have a beautiful day.
peace.

why complain?!

http://news.bbc.co.uk/2/hi/south_asia/7535229.stm
most of us have nothing to complain about.
and have a beautiful day.
peace.

speech

you may have heard there's a speech tonight. and there will be another one next week too. both deserve to be heard i think. neither is more important than the other. you may have a different opinion.

one fact remains, tonight's speech will make history. the speech next week might make history too. we'll just have to wait and see about that. one thing is for sure, if we don't hear both speeches, i believe we're cheating ourselves. we can only decide what we think about a speech after we've listened to it.

november 4th, 2008 will be the day on which we will all be "the decider". the decision made that day will affect us all for a long time to come.

please make the best possible decision you can.

and have a beautiful day.

peace.

link of the day

http://news.bbc.co.uk/2/hi/entertainment/7584179.stm
if only john and george were here to see this.
i'm sure they're watching.
"let it be".
"imagine".
peace.

link of the day

http://www.nytimes.com/2008/08/25/us/politics/25race.html?_r=1&adxnnl=1&oref=slogin&ref=politics&adxnnlx=1219676463-yixEhFFT/R4AkFpCWzpXig
we may have come a long way, but we still have a long way to go.
in order for there to be true equality, i believe we'll have to practice it each and every day, forever.
what do you think?
and have a beautiful day.
peace.

I.O.U.S.A.

i saw this film last night, and it is excellent. i recommend everybody see it. it presents the facts in a way most people can understand them.

if you care about america, planet earth, your children, grand children, great grand children, and all future children, then you really must see this movie.

and have a beautiful day.

and please save more money.

peace.

link of the day

http://www.nytimes.com/2008/08/17/automobiles/collectibles/17BUGATTI.html?_r=1&oref=slogin

WOW!

Tropic Thunder

good movie.
thumbs up!

great green news

http://www.nytimes.com/2008/08/15/business/15solar.html?_r=1&oref=slogin
and have a beautiful day.
peace.

PR goldmine

i'm giving this one away for free.
hey gas stations, are you listening?!
99¢ gas for 24-hours.
could it possibly hurt you?!
think about it, PLEASE.
and have a beautiful day.
peace.

simplify

august 1 through 7 is national simplify your life week. so what does that mean exactly? well, depends who you are and your current mental condition. for some, simple is easy. their lives are defined by simple. everything they do, say, and think, is simple. for others, different story. it's important, i believe, for each and every one of us to simplify our lives in some way(s). the 21st century is very complicated and full of drama. even selecting a pope is very complicated and full of drama. there's plenty of room for simplification just about everyplace. i pledge to simplify my life not just this week, but every week. in the end, and we'll all arrive there far too soon, what do we really need? it's quite simple actually. i shall let you make that determination for yourself. we're all snowflakes. no two alike. and thank goodness for that! and have a beautiful and simple day. peace. frank landfield

link of the day

http://www.nytimes.com/2008/08/02/opinion/02herbert.html?_r=1&hp&oref=slogin

the mummy

saw it, liked it.
thumbs up.
peace

SOME GOOD NEWS!

http://www.nytimes.com/aponline/us/AP-Congress-Contempt.html?hp
if i am not immune, then neither is anybody else.
and have a beautiful day.
peace.

the latest buzz

http://news.bbc.co.uk/2/hi/science/nature/7530666.stm
WATCH OUT!

oops!

http://www.nytimes.com/2008/07/30/washington/30stevens.html?hp

AMAZING!

http://gcaptain.com/maritime/blog/gcaptain-exclusive-shellbacked-ipod-touch-video/
AND WOW!
and have a beautiful day.
peace.

grateful and lucky

i am sitting here in the house sweating. it's about 88º inside and 101º outside. our air conditioner has finally worn out. it's been running for about 35 years. it is the original one installed when the house was built. workers are currently putting in a whole new system, and i am grateful and lucky to be experiencing it all.
i think about most of the people in this world who don't have enough to eat; who don't have jobs; who have no health care; who have no air conditioning and worse.
i am lucky to be in the place i am in. i am grateful to be where i am. sweating for one day without air conditioning is nothing compared to all the suffering in our world.
we must do something about all this suffering and misfortune and injustice. we can do something about it. we can all do something.
by tomorrow the new air conditioning system will have the house a chilly 75º. most of the people in the world will continue to suffer. i will rededicate myself to making a difference. i will make sure that every moment i'm alive, i will remember how grateful and lucky i am. i will never forget all the people in our world who have it much worse than i.
peace.

fyi

http://news.yahoo.com/s/ap/20080728/ap_on_go_ca_st_pe/justice_politics

FYI

http://news.bbc.co.uk/2/hi/technology/7525206.stm

some good news

http://www.mydesert.com/apps/pbcs.dll/article?AID=/20080726/BUSINESS06/807260325

worth considering i think

http://www.pickensplan.com/

films

my films can now be seen on youTube.
find me under "franklandfields".
enjoy.
peace.

global warming?

http://news.bbc.co.uk/2/hi/south_asia/7511356.stm
interesting article.
what do you think?

what to do?

http://www.nytimes.com/2008/07/20/us/20mustangs.html?_r=1&hp&oref=slogin
i don't think murdering them is the answer.

Batman!

just saw it at IMAX!
thumbs up!

b-bye

http://news.bbc.co.uk/2/hi/technology/7508842.stm
for the record, i haven't had a mouse in ten years.
peace.

interesting stuff

http://news.bbc.co.uk/2/hi/americas/7511426.stm
enjoy.
peace.

"take a deep breath"?!

The New York Times

July 16, 2008
Bernanke Is Pessimistic, but Bush Urges a ‘Deep Breath’
By STEVEN R. WEISMAN

WASHINGTON — Warning of the risks of a further slowdown and higher inflation, Ben S. Bernanke, chairman of the Federal Reserve, offered a gloomy assessment of the economy on Tuesday as President Bush, speaking a few blocks away, urged Americans to have faith in the country’s financial foundation.

In testimony before the Senate Banking Committee, Mr. Bernanke avoided the word “recession” in characterizing the current economy, noting instead that consumer spending and exports were keeping growth “at a sluggish pace” while the housing sector “continues to weaken.”

He added that spending for personal goods had “advanced at a modest pace so far this year, generally holding up somewhat better than might have been expected given the array of forces weighing on household finances and attitudes.”

While the risks to the overall economy were still “skewed to the downside,” he said, inflation “seems likely to move temporarily higher in the near term.”

Even as Mr. Bernanke fielded questions from senators, a different view of the economy emanated from the White House.

President Bush, speaking at a White House news conference that coincided with the Fed chair’s testimony, urged Americans to “take a deep breath.”

“My hope is — is that people take a deep breath and realize that their deposits are protected by our government,” the president said. He added that economic growth “was not the growth we’d like” but expressed confidence that the country would overcome “a time of uncertainty.” The nation’s troubled financial system is "basically sound," he added.

The president said that the economy and the pillars on which it rests were “basically sound.” And he dismissed questions about reports that wholesale prices rose 1.8 percent in June, the fastest 12-month inflation rate in more than a quarter century.

Mr. Bernanke’s mixed assessment of the economy appeared to signal that the Fed would not be lowering interest rates further in spite of the economic sluggishness, as it did earlier this year, out of concern that lower rates would spur more inflation. In June, the Fed declined to lower rates and instead suggested it might raise rates later in the year.

In his testimony, he was especially pessimistic about any easing of energy prices, dismissing suggestions that they were being driven by speculation in futures markets. Instead, he said high energy costs reflected the markets’ recognition that demand was outstripping supplies.

“Over the past several years, the world economy has expanded at its fastest pace in decades, leading to substantial increases in the demand for oil,” Mr. Bernanke said. “On the supply side, despite sharp increases in prices, the production of oil has risen only slightly in the past few years.”

President Bush’s remarks, and Mr. Bernanke’s testimony, came at an unusually turbulent time in financial markets, since it followed on the heels of the Fed’s announcement that it would temporarily open its discount window to the two troubled mortgage giants, Fannie Mae and Freddie Mac.

The actions to stabilize Fannie and Freddie occurred over the weekend as the Treasury secretary, Henry M. Paulson Jr., also called for Congress to approve emergency legislation giving the federal government power to inject billions of federal funds through investments and loans.

The actions announced Sunday echoed similar actions in mid-March, when the Fed moved to avert a financial collapse of the investment bank Bear Stearns by offering an emergency loan to facilitate its sale to JPMorgan Chase. At the same time, the Fed set up emergency lending facilities for major investment banks hit by the credit crunch.

“These steps to address liquidity pressures coupled with monetary easing seem to have been helpful in mitigating some market strains,” Mr. Bernanke said. But despite the “positive effects” of the Fed’s actions, he said that the problems of unstable markets continued because of “declining house prices, a softening labor market and rising prices of oil, food and some other commodities.”

After Mr. Bernanke’s testimony, Mr. Paulson and the chairman of the Securities and Exchange Commission, Christopher Cox, took center stage.

In prepared remarks, Mr. Paulson focused on the government’s efforts to assist Fannie Mae and Freddie Mac, complementing comments earlier by Mr. Bush, who urged Congress to pass housing legislation that would modernize federal regulatory procedures while stabilizing the two companies.

Continued confidence in the two companies “is important to maintaining financial system and market stability,” Mr. Paulson said. While lawmakers have said that they would attach the bailout plan to housing legislation, the timing was uncertain.

Representative Barney Frank, Democrat of Massachusetts and the chairman of the House Financial Services Committee, said Monday that a bill could be sent to President Bush by week’s end. But on Tuesday, Congressional Democrats said it would take at least until early next week for the House to act, citing resistance among some Republicans to the administration’s rescue plan for Fannie and Freddie.

In his testimony Tuesday, Mr. Paulson said Fannie and Freddie “are central to the availability of housing finance, which will determine the pace at which we emerge from this housing correction.”

“Our plan is aimed at supporting the stability of financial markets,” he said, “not just these two enterprises. This is consistent with Treasury’s mission to promote the market stability, orderliness and liquidity necessary to support our economy.”

David Stout contributed reporting.

Copyright 2008 The New York Times Company

statistics

http://www.globalinsight.com/Perspective/PerspectiveDetail13286.htm

hellboy

good movie.
thumbs up.

Hancock

thumbs up.
Great film.