Monthly Archives: September 2002

Spin’s Metal Issue Not All That Bad

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It’s always fun, and inevitably disappointing, to see mainstream magazines try and document something like the metal scene that was occuring in the 80s. Like most attempts, Spin misses alot. 2/3rds of the era aren’t touched as Spin focuses entirely on the LA scene.

What can ya do? Here’s the mag. Judge for yourself.

I’d say we metal heads should work together once and for all to document what was cool and still is great about the music. All of it. Not just glam. Not just thrash. All of it.

One thing that struck me was our changing views of what a “hit” is (naw dude – that’s not a pun!) I mean Britney is being called washed up after selling 4 million albums. Back then – you were big time selling that many.

Another thing is the re-writing of history interms of what kids were listening to in the mainstream.

I heard Duran Duran on the radio. I heard Genesis. I heard way too much Men Without Pants. But – I did *not* hear L.A. Guns. At least until after 10PM. Are we clear? Radio did not support the scene at all. It was word of mouth, the fans, late night MTV, and very late night radio. At least in this neck of the woods.

That kind of movement… it spawned a community. A group of kids that looked at the rest of the world and said – “you don’t get it.”. It looks like no one still does, except for the kids.

The Journalist’s Creed by Walter Williams

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I believe in the profession of journalism.

I believe that the public journal is a public trust; that all connected with it are, to the full measure of their responsibility, trustees for the public; that acceptance of a lesser service than the public service is betrayal of this trust.

I believe that clear thinking and clear statement, accuracy and fairness are fundamental to good journalism.

I believe that a journalist should write only what he holds in his heart to be true.

I believe that suppression of the news, for any consideration other than the welfare of society, is indefensible.

I believe that no one should write as a journalist what he would not say as a gentleman; that bribery by one’s own pocketbook is as much to be avoided as bribery by the pocketbook of another; that individual responsibility may not be escaped by pleading another’s instructions or another’s dividends.

I believe that advertising, news and editorial columns should alike serve the best interests of readers; that a single standard of helpful truth and cleanness should prevail for all; that the supreme test of good journalism is the measure of its public service.

I believe that the journalism which succeeds best — and best deserves success — fears God and honors Man; is stoutly independent, unmoved by pride of opinion or greed of power, constructive, tolerant but never careless, self-controlled, patient, always respectful of its readers but always unafraid, is quickly indignant at injustice; is unswayed by the appeal of privilege or the clamor of the mob; seeks to give every man a chance and, as far as law and honest wage and recognition of human brotherhood can make it so, an equal chance; is profoundly patriotic while sincerely promoting international good will and cementing world-comradeship; is a journalism of humanity, of and for today’s world.

Thanks Garret.

We the People, We the Warriors

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It was widely viewed as a victory for the peace movement when the draft was abolished and military service became voluntary. Unfortunately this arrangement does not really serve the cause of peace but rather lowers the threshold of war by creating a decisive cleavage between the social classes that wield political power and those that supply the country its soldiers. Too many of our political leaders are now in a position to choose war with little fear that it will endanger their friends or loved ones. This is dangerous for the same reason it would be dangerous to entrust the power to determine tax policies to a class of citizens who have been granted blanket immunity from taxes. It breeds political irresponsibility.

Read this powerful piece in the Washington Post.

There Is No Housing Bubble

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Higher inventory could help ease the pressure on prices this fall, but the talk about a housing-price “bubble” isn’t following suit.

What is a bubble? A little soap and water and a lot of hot air.

What is a housing-price bubble? The same thing.

Say you bought your house two years ago and paid $150,000. Then identical houses on either side of you sell for $300,000.

Thanks to the resulting comparables, your house is also appraised at $300,000, so you decide to take out a loan against the equity for $100,000 or cash out some equity by refinancing the higher amount at the current low fixed interest rate.

Applications for refinancing loans have skyrocketed to two-thirds of the total number of mortgage originations, according to the Mortgage Bankers Association of America.

In effect, you are using your house as a checkbook, assuming that, when you go to sell, you’ll be able to pay off the mortgage and the loan and still have $50,000 – minus expenses – left over.

But when you sell your house, the factors that drove up the prices of the houses on either side of you – low inventory and low fixed mortgage rates – are gone.

Now, there are five houses like yours for sale on your street. And even though your house was appraised in the good times at $300,000, your real estate agent breaks the news that you cannot expect more than $125,000 for it.

A worst-case scenario, obviously, but for you, the bubble has burst and what you have on your face is not just a little soap and water.

If it makes you feel better, real estate industry experts are saying there is no bubble.

“The time has come to put this issue to rest,” said David Seiders, chief economist of the National Association of Home Builders.

“The nation’s home builders have said it, the Realtors have said it, and Alan Greenspan has said, in no uncertain terms: There is no such thing as a current or impending house-price bubble,” Seiders said.

What Greenspan, chairman of the Federal Reserve, actually said in congressional testimony was: “We’ve looked at the bubble question, and we’ve concluded that it is most unlikely.”

Greenspan attributed recent “sizable gains” in home prices to “the effects on demand of low mortgage rates, immigration, and shortages of buildable land.”

Given the local nature of real estate, it’s possible for prices to deflate in one area, but a nationwide “pop” simply isn’t in the cards, Lereah said.

Thank you Inquirer. Good to know I didn’t buy during a stupid time.

Speaking of housing The Inquirer is reporting that the new property tax increases are favoring the city’s rich.

Hallwatch.org is the very best local resource to investigate the property taxes. Check out the online toolset.