McCAIN DIVORCES HIMSELF FROM HIS OWN PARTY

From a reader on Andrew Sullivan's blog AndrewSullivan.com
Good God! I watched that video of Palin at her church through twice. The Assemblies of God are Pentecostals, of course, the real "holy rollers"--ecstatic experience of the Godhead in your own body, rolling in the aisles, talking in tongues. When I got some exposure to them, they were extremely conservative and strict (no dancing, no lipstick, no short skirts) but Palin is evidence of how they've mainstreamed themselves.

I wonder if the average reader would hear the references she makes and understand them? Master's commissions--this is a program they run to evangelize non-believers, in Alaska especially native Americans. Notice that our foreign and defense policy is simply God-given - not to be weighed, studied, deliberated, only to be implemented as we're taught by our betters. And notice that her political program - build a sports complex, a pipeline, change a tax bill, all likewise simply becomes a matter of religion.

For twenty years the most hardcore Christianists have been held in the background. Now one of them is the vice presidential nominee next to a man who's 72 and a repeated cancer survivor. This is mortifying. How could John McCain do this to our country!

McCAIN DIVORCES HIMSELF FROM BUSH-CHENEY-ROVE PARTY OF CORRUPTION

From Andew Sullivan's blog a reader writes:
Immediately after (McCain's) speech, I remarked to my wife that the tone of it was of a person looking back on a career, not beginning a new one.

Andrew Sullivan: What makes me sad is how so many young people have no idea any more what conservatism could mean if it were true to itself. (I gave it my best shot in my book, "The Conservative Soul.") But the corruption of this party is so deep - morally, ethically, philosophically - McCain can't do it.

I'm sure conservatism will one day recover - because it is right about the main issues: government needs to be kept in its place, taxes should be low and budgets balanced, individuals should be able to pursue their dreams as free of government control as possible, families do matter and need to be free from government interference, free markets and enterprise are the only guarantees of prosperity, moral choices - and their consequences - should be faced by the individual responsibly, and we have to be strong in our defense and prudent in foreign policy. This is the conservatism I still believe in. Deep down, I'm sure McCain does too. But it will only come from the ashes of this fundamentalist, mean-spirited, parochial, arrogant, big-spending, irresponsible shambles of a party. We have to repudiate the party of Rove and Abramoff and Romney and Dobson and Cheney and Bush II.

Burn it down and start over.

SARAH PALIN SLASHED FUNDING FOR TEEN MOMS

The “family values” party has an adulterer on the top of the ticket who dumped his wife because she was disfigured in a car accident. The new wife was a drug addict who stole those drugs from a charity she ran. She fired the whistle blower. Now the vicious veep runing mate has more skeletons in her closet than a “bodies” exhibit. No substance, attack, attack, attack. Watch out glass house owners! Wasn’t this the party that viciously attacked a Vietnam Vet Hero in the last election?Comment from JoeG on SuziQ's blog

Alaska Gov. Sarah Palin wrote in her line-item veto changes by hand in this copy of a 2008 spending bill obtained by The Washington Post.

By Paul Kane
ST. PAUL -- Alaska Gov. Sarah Palin, the Republican vice-presidential nominee who revealed Monday that her 17-year-old daughter is pregnant, earlier this year used her line-item veto to slash funding for a state program benefiting teen mothers in need of a place to live.

After the legislature passed a spending bill in April, Palin went through the measure reducing and eliminating funds for programs she opposed. Inking her initials on the legislation -- "SP" -- Palin reduced funding for Covenant House Alaska by more than 20 percent, cutting funds from $5 million to $3.9 million. Covenant House is a mix of programs and shelters for troubled youths, including Passage House, which is a transitional home for teenage mothers.

According to Passage House's web site, its purpose is to provide "young mothers a place to live with their babies for up to eighteen months while they gain the necessary skills and resources to change their lives" and help teen moms "become productive, successful, independent adults who create and provide a stable environment for themselves and their families."

Palin's own daughter, Bristol, is five months pregnant and has plans to wed.

"Bristol and the young man she will marry are going to realize very quickly the difficulties of raising a child, which is why they will have the love and support of our entire family," Palin said in a statement released by the McCain campaign. "We ask the media to respect our daughter and Levi's privacy, as has always been the tradition of children of candidates."

Earlier today the Associated Press reported that Sen. John McCain (Ariz.), the presumptive Republican presidential nominee, opposed funding to prevent teen pregnancies, a position that Palin also took as governor. "The explicit sex-ed programs will not find my support," she wrote in a 2006 questionnaire distributed among gubernatorial candidates.

Reporters asked McCain in November 2007 whether he supported grants for sex education in the United States, whether such programs should include directions for using contraceptives and whether he supports President Bush's policy of promoting abstinence.

"Ahhh, I think I support the president's policy," McCain said.
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Since Sarah Palin didn't write her own speech, of course, we can't wait to hear her debate foreign policy with Biden...

Putting Words in Palin's Mouth by Hiatt (Washington Post.com)

There was a flutter of attention when McCain campaign manager Rick Davis told a group of Post reporters and editors yesterday that his team was having to rework the vice presidential acceptance speech because the original draft, prepared before Gov. Sarah Palin was chosen, was too "masculine." While we all wondered to ourselves what might make a speech masculine or feminine, no one batted an eye at the underlying revelation: that the campaign was writing the nominee's speech before knowing who the nominee would be.

Even staunch right-winger Dr. Laura Schlesinger says she is "extremely disappointed in the choice of Sarah Palin as the Vice Presidential candidate of the Republican Party...I’m stunned - couldn’t the Republican Party find one competent female with adult children to run for Vice President with McCain?... But really, what kind of role model is a woman whose fifth child was recently born with a serious issue, Down Syndrome, and then goes back to the job of Governor within days of the birth?

I am haunted by the family pictures of the Palins during political photo-ops, showing the eldest daughter, now pregnant with her own child, cuddling the family’s newborn. When Mom and Dad both work full-time (no matter how many folks get involved with the children), it becomes a somewhat chaotic situation. Certainly, if a child becomes ill and is rushed to the hospital, and you’re on the hotline with both Israel and Iran as nuclear tempers are flaring, where’s your attention going to be? Where should your attention be? Well, once you put your hand on the Bible and make that oath, your attention has to be with the government of the United States of America. (From http://www.drlaurablog.com/)

The Sarah Palin Saga Only Gets Worse
by Robert A. Kezelis

When Vegas starts posting odds on when a VP nominee's name will be withdrawn from consideration, you know that something is brewing.

It turns out that there's more fire than smoke. The questions keep growing, so let's keep it simple, who, how, why, when, and where.

WHO
Even I hate to admit it, especially after Hillary joined them, there is a hidden conspiracy that stands against America, our constitution, our future, our freedoms. It is a Christian cabal. A D.C. centered group of rich, insane, power-hungry, conspirators who wish to control the destiny of this country in their direction. It is not a direction of which our founding fathers would have approved. It is, more than any other danger that our country faces, our most evil enemy. It also selected Sarah Palin. They met recently, vetted her, approved of her religious fascism, and promoted, then sold her to John McCain.

The Nation, one of the finest independent papers in this country, has the story:

The members of the Council for National Policy are the hidden hand behind McCain's Palin pick. With her selection, the Republican nominee is suddenly -- and unexpectedly -- assured of the support of a movement that once opposed his candidacy with all its might. Case in point: while Dobson once said he could "never" vote for McCain, he issued a statement last week hailing Palin as an "outstanding" choice. If Dobson's enthusiasm for Palin is any indication, he may soon emerge from his bunker in Colorado Springs to endorse McCain, providing the Republican nominee with the backing of the Christian right's single most influential figure.
http://www.thenation.com/blogs/campaignmatters/352...

HOW
John McCain has long ceased being his own person. From 2000 to today, the differences between McCain the Maverick, to McCain the NeoConMan are striking. Parsing the difference in behavior and personality is difficult. Some, including me, have suggested that he suffers from Senile Dementia. Others simply call McCain a political whore, willing to do and say anything to get elected. Still others simply say that he is a convenient politician. What works is convenient.

No matter the cause, no matter the reason, or combination thereof, McCain has sold his campaign to the Rovian club he recently collected, and then sold his soul to the ultra far right fringe of Christian theology. The Council chose Sarah Palin for him, in exchange for their support.

WHY
Do not believe the polls. The idea that 4 more yrs of Bush would ever receive 42% support in a national election is ridiculous. Internal polling shows a bigger lead for Obama, despite a serious impact of racism.

Sarah Palin, like any former beauty queen, is there simply to be a distraction. Avoid the hard questions, confuse and confound the enemy, and always change the discussion and the topic. The Rovian leaders within the McCain camp know how bad the future is, and this bowing to the ultra-religious-dominionist Cabal is a brilliant, timely, calculated move. On one hand, it throws those insane nuts a handful of crumbs. When she is replaced, (and rest assured, she will be), they will have been pacified. On the other hand, if she somehow manages to survive what is looking more and more like a serious vetting by serious investigators, she pretty much locks up the fundie vote for McCain. Despite being a Creationist nutcase herself.

WHE
When did the fall of Sarah start? Early, often, consistently.
When she demanded what amounted to a loyalty oath from her tiny town's employees, she showed her true colors. When she fired capable people simply because they did not kiss her feet sufficiently, she laid out her future behavior. When she headed a Senator Stevens 527 group, pushing for his re-election, despite serious ethical charges building up, she showed how corrupt she herself is. When she stood up next to Ted, pledging her support, she confirmed it. And when she scrubbed her website of those events, she showed that her campaign has a high school student on board with some smarts.

Palin's name is listed on 2003 incorporation papers of the "Ted Stevens Excellence in Public Service, Inc.," a 527 group that could raise unlimited funds from corporate donors. The group was designed to serve as a political boot camp for Republican women in the state. She served as one of three directors until June 2005, when her name was replaced on state filings.

http://voices.washingtonpost.com/the-trail/2008/09...

I just hope whoever cleansed her website isn't impregnated at the age of 16. That might impact Sarah's family values positions.

Oh, wait. That already happened.

WHERE
Where will America find out about the true Sarah? Certainly not on cable news. Never on your local borecasts. Not in your local newspaper, especially when too many subscribe to the AP service, a failing, politicized, dysfunctional group that would rather protect the status quo than to fix their growing Fournier problem. WaPo tries. NYT tries. Even some western papers are investigating and reporting. But Gustav visuals are simply too "gnus-worthy"

Where will you learn about the real Sarah Palin? The Netroots. Be grateful they exist. It might just save this country yet.


OBAMA'S MAGNIFICENT NIGHT

Obama has transcended petty partisan politics by uniting us all in a speech that was severe, hard-hitting and transformational. He is a true leader and not a "celebrity." This election is about US: you and me, patriotic Americans joining together against the dark forces of corporate greed, cronyism, oil and war profiteering. Obama is a symbol of the American Dream and of our enlightened nature as a people. No matter what devious political maneuvering McCain and the Rovebots engage in — the TRUTH will win, for the truth has a liberal bias. Obama simply told the truth with strength, passion, empathy and honesty. - Lydia


For the spiritual solution to every problem in life please check out our other blog: at The Peacemakers * The Light of Truth


Lydia Cornell on CSPAN's Book-TV

PALE AND PALIN: DUELING VICTIMS? MCCAIN VETOES LOW-INCOME CHILD HEALTH CARE

PALE AND PALIN: DUELING VICTIMS? DON'T BE FOOLED

CAN SARAH PALIN DEBATE JOE BIDEN? Will it be a case of dueling victims? Biden's son Beau is going to Iraq in November; Palin's son goes to Iraq in September. Biden lost his wife and daughter in a car accident and raised his sons alone for years. If the Rovebots use Palin's precious Down Syndrome child as a political maneuver (to show that we must force all women, even rape and incest victims as young as 12, to bring a child into the world against their will, which reeks of fascism is you ask me) then Obama should bring up the S-Chip program and the fact that McCain voted against health care for low-income children 5 years in a row!!! Most Americans could not afford to raise a Down Syndrome child on the McCain health plan.

I have to admit Sarah Palin's story is fascinating: a moose-hunting mother of five, with a special-needs child. God Bless her for being a good mother. But she is pro-gun, pro-NRA, pro-drilling, anti-environment and anti-choice (I refuse to say "pro-life" because anyone who believes it's okay to kill fellow humans in invasion-wars or hunt wild animals — is not pro-life!

And she will never get Hillary's supporters who are mainly women over 50, marginalized by the UNEQUAL pay for equal work agenda of the McCain neocons who voted against the Equal Rights Amendment for decades! I have to wonder if Hillary's supporters are against the ERA and against Choice! Palin shares John McCain’s commitment to overturning Roe v. Wade, the agenda of Big Oil and continuing George Bush’s failed economic policies — that’s not the change we need, it’s more of the same with a vengeance.

Palin is a beautiful former Miss Alaska, or as my radio co-host, Doug Basham puts it, she's a "MILF." But she is pro-BIG OIL and her husband owes his education to BP Offshore Oil Co. that has been trying to increase taxes on oil. London-based BP is heavily involved in the gas pipeline negotiations with his wife's administration. This is a serious conflict of interest.

OBAMA'S MAGNIFICENT NIGHT

Obama has transcended petty partisan politics by uniting us all in a speech that was severe, hard-hitting and transformational. He is a true leader and not a "celebrity." This election is about US: you and me, patriotic Americans joining together against the dark forces of corporate greed, cronyism, oil and war profiteering. Obama is a symbol of the American Dream and of our enlightened nature as a people. No matter what devious political maneuvering McCain and the Rovebots engage in — the TRUTH will win, for the truth has a liberal bias. Obama simply told the truth with strength, passion, empathy and honesty. - Lydia

Obama: 'Don’t tell me Democrats won’t defend this country!'

Obama's Thursday speech, delivered before about 75,000 at the football home of the Denver Broncos, not only topped this past year's Oscars (32 million), but every night of the just-concluded Beijing Games (which, at its best, scored 34.9 million), and last spring's American Idol finale (31.7 million).

Obama has transcended petty partisan politics by uniting us all in a speech that was severe, hard-hitting and transformational. He is a true leader and not a "celebrity." This election is about US: you and me, patriotic Americans joining together against the dark forces of corporate greed, cronyism, oil and war profiteering. Obama is a symbol of the American Dream and of our enlightened nature as a people. No matter what devious political maneuvering McCain and the Rovebots engage in — the TRUTH will win, for the truth has a liberal bias. Obama simply told the truth with strength, passion, empathy and honesty. - Lydia

Touching on a centrist chord, he said Americans might disagree on issues such as abortion and guns, but they should be able to find a common ground that would reduce unwanted pregnancies and protect the second amendment while keeping AK-47's from criminals.

"He directly addressed a lot of hot-button issues that Democrats usually run away from," said delegate Sam Hagedorn, of Rochester. "It was moving, it was energetic, and it called on us to be better citizens here in America and around the world."

Obama also delivered a lot of the red meat his supporters have been waiting for, reminding people of what he has done, while saying, "John McCain doesn't get it."
By Seth McLaughlin, Post-Bulletin, Rochester MN

MORE DETAILS ON SARAH PALIN'S OIL INTERESTS

Sarah Palin's husband works for BP offshore oil Co. that has been trying to increase taxes on oil...

What a conflict of interest. I am so friggin sick of Republicans who do nothing but raise oil prices. First the Bush and Cheney oil clan, Condaleeza used to be an executive at Shell, and now the VP is a little devil in disguise, whose husband has been giving the green light to do offshore oil drilling in Northern Alaska and who has helped contribute to the rise in oil prices. I guess it really is true that gas will go to $7/gallon with Republicans in office. Wake up! Don't let the economy take a further dive...I don't want to be robbed further by these oil thieves who are driving record inflation.

Todd Palin, who took college courses, but does not have a degree, said he is grateful for the training he received from the multinational oil company BP starting in 1989.

Until recently, he earned hourly wages as a production operator in a BP-run facility that separates oil from gas and water. Palin was making between $100,000 and $120,000 a year before he went on leave in December to make more time for his family and avoid potential conflicts of interest. London-based BP is heavily involved in the gas pipeline negotiations with his wife's administration.

Lydia Cornell's Daily Kos diary :: ::

NO TRUE HILLARY SUPPORTER WOULD VOTE FOR McCAIN

DEMOCRATIC CONVENTION COVERAGE Listen Live! to the Basham and Cornell Radio heard weekday mornings at 8 a.m. on 1230 AM KLAV in Las Vegas and worldwide on the web — for fun, witty DEMOCRATIC CONVENTION COVERAGE complete with soundbites and highlights including the Clinton and Biden speeches!

If you live in Vegas you can tune in Live or go to our website and listen in the audio archives.

Did you just watch the roll call at the Convention -- when Illinois yielded to New York and Hillary officially gave all her delegates to Obama - and there was wild dancing and tears. I am so in love with America right now I feel like a nerd! (Guess that's nothing new...)

HILARY UNITES THE PARTY! NO WAY, NO HOW, NO McCAIN!

HILLARY GIVES THE BEST SPEECH OF HER LIFE TONIGHT UNITING THE PARTY AND URGING HER FOLLOWERS TO VOTE FOR OBAMA!!

ALWAYS REMEMBER: The Republicans inherited the biggest budget surplus in history from Bill Clinton and drove our economy into the ground while killing the soul of regular Americans and bankrupting the middle class. John McCain is George Bush with more anger issues. Plus, John McCain "doesn't believe that women deserve equal pay for equal work" or the right to access legal abortion.

TONIGHT! HILARY SPEAKS!!

HERE IS MY BIG QUESTION: Given the gulf of differences between the Democrats and McCain, why would a Hillary supporter support McCain over Obama? What are they, nuts?

As Bob Casey said, "John McCain is not a maverick, he's Bush's sidekick!" A vote for McCain is a vote against HEALTH CARE FOR LOW INCOME CHILDREN, a vote against health care for everyone, a vote for more death of our young troops, for more war, for more corporate corruption, for more cronies and lobbyists, for more greed, for more anti-American sentiments abroad. And a vote for John McCain is a deeply unChristian, unethical, amoral vote that will set us back light years. A vote for John McCain is a vote for GEORGE BUSH AND his criminal corruption that stole billions of our taxpayer dollars in Iraq.

So please explain how on earth a sane person who cares about human life could vote for John McCain? Please leave comments in the thread.

HISTORY IN THE MAKING!

MICHELLE OBAMA'S SPEECH touched me deeply. It was so heartfelt, so honest and clear, there is no doubt whom should be our next president. There is no comparison between the candidates in the "honesty department."

Stay tuned for Wednesday night when Bill Clinton takes the stage to cheerlead for Obama!

This is the most important election of our time and I was blown away by Caroline Kennedy's introduction to her uncle Teddy. Ted Kennedy is a liberal lion and has always fought for the common man in his long Senatorial career.

BIDEN WILL BE OBAMA'S VP

OBAMA PICKS SENATOR JOE BIDEN AS HIS RUNNING MATE

On Friday night I asked readers to please post their choices and opinions in the comment section: will Obama's Vice Presidential pick be Biden, Clinton, Richardson, Bayh, Nunn?

I think it will be Joe Biden - which is GREAT! But I am still holding out hope that it will be Hilary Clinton.

THOUGHT FOR THE DAY

I believe our primary purpose in this existence is to learn to love each other. First we have to love and accept ourselves and then transfer that love and acceptance to others — because you can't give what you haven't got. Spirituality for me means smashing the ego. It’s about human kindness, seeing the good in others no matter how bad they look. It’s not sitting on some mountain top in a self-centered quest to find God. But the only solution to personal agony is to start focusing on love, which is a power greater than yourself. But everything has to be taken with a dose of humor.

After my TV series ended, I went to hell and back. I really went through some terrifyingly dark days, years. When I say I found God, I mean a supernatural force literally lifted me up and installed into me a peace of mind I never thought possible. When I gave up alcohol, drugs, worry and fear — a veil of anesthesia lifted. Amazing coincidences started happening; I found a key to the door by simply surrendering the intellectual habit of being arrogant. You have to become as innocent as a child to let this gift in.

I want to clear a few thing up that I said about religion. I’m not putting down fundamentalists — but many of the most vocal ones do not act very Christian. Christ taught never to judge others or to fight and take vengeance on others. The idea that Christ would ever condone war is laughable. His law of love is a spiritual law. It is difficult to grasp this kind of love with the limited human mind. But we must love our enemies as much as we love ourselves, because we are all one. We must meet hate with love. How can fundamentalists condemn gays? And how can they murder abortion doctors and call themselves pro-life! Is killing pro-life?


All the most important things are invisible to the conscious eye: love, beauty, joy, thought. If we only believed in what we could see, then we would still believe the earth was flat — and not spinning. Galileo, who was condemned by the Catholic Church for saying that the earth revolved around the sun — and forced to state that it stands still, muttered, “Nevertheless, it does spin!”

Between animal and angel are several levels of ascension. In the animal stage, man is ruled by his sex drive, ego and childlike behavior. Extremely immature, he lives in a state of craving and wanting. But when he awakwens and realizes life is about getting rid of the ego and serving others -- he begins to fall under the law of Grace. But once he gains a conscience, there is no going back.

No matter what is going on in your life, stop for a moment and breathe deeply. Inhale love, exhale fear and focus on what you have to be grateful for.

Wag the Dog

In the 1997 movie “Wag the Dog” the premise of the plot was to use war and threats of war to distract the public from the economic calamity that was really happening within the country. The plan in the movie was very simply to assert "There’s a crisis in the White House, and to save the election, they’d have to fake a war."

Some are wondering if the fighting between the country of Georgia and Russia, which has started three months before the U.S elections were part of the same movie premise contained within “Wag the Dog.”

Consider the facts taking place in the U.S economy. Fannie Mae and Freddie Mac had just announced record losses, and so had most reporting corporations. Unemployment was mounting, the foreclosure crisis was deepening, state budgets were in shambles, and massive bailouts were everywhere. The stock market continued to fall as has the value of the dollar.

James Turk economist and author speculated "The banking problems in the United States continue to mount, while the federal government’s deficit continues to soar out of control. So what happened to cause the dollar to rally over the past three weeks? In a word, intervention. Central banks have propped up the dollar:

"When central banks intervene in the currency markets, they exchange their currency for dollars. Central banks then use the dollars they acquire to buy US government debt instruments so that they can earn interest on their money. The debt instruments central banks acquire are held in custody for them at the Federal Reserve, which reports this amount weekly.

The Federal Reserve reported holding $2,349 billion of US government paper in custody for central banks. This amount had grown over the past three weeks to $2,401 billion, a 38.4% annual rate of growth. So central banks were accumulating dollars over the past three weeks at a rate far above what one would expect as a result of the US trade deficit. The logical conclusion is that they were intervening in currency markets. They were buying dollars for the purpose of propping it up, to keep the dollar from falling off the edge of the cliff and doing so ignited a short covering rally, which is not too difficult to do given the leverage employed in the markets these days by hedge funds and others."

Some $400 billion in Adjustable Rate Mortgages will be due by October of this year. A wide majority of these loans are expected to default leaving the strong possibility of a pending economic collapse.

Fannie Mae and Freddie Mac received a $800 billion credit line that will soon be gone once the coming mass of mortgage defaults take place. Banks everywhere are facing overwhelming write-offs, putting the entire banking system near collapse. Should the government provide another bailout it would bankrupt the nation.

Author and Commentator Mike Whitney reiterated the thoughts of many recently when he said "Washington’s bloody fingerprints are all over the invasion of South Ossetia. Georgia President Mikhail Saakashvili would never dream of launching a massive military attack unless he got explicit orders from his bosses at 1600 Pennsylvania Ave. After all, Saakashvili owes his entire political career to American power-brokers and US intelligence agencies. If he disobeyed them, he’d be gone in a fortnight.”

Is the Russia-Georgia conflict another “Wag the Dog ”scenario as many are speculating? Considering the length the Bush administration and their surrogate John McCain have already gone to force a never ending war with Iraq, and the economic collapse that is lurking around the corner as well as the upcoming presidential elections, the “Wag the Dog” tale looks more plausible everyday.

RELIEF FOR CONSUMERS: PRICES FALLING

We don't need a "Fairness Doctrine" in media. We need an honesty doctrine. Jerome Corsi and most of the right wing media is inherently dishonest. Analyze it: all they do is attack, smear and lie. Upcoming blog on the malicious liar Jerome Corsi... stay tuned.

After soaring for months, prices for oil, rice, and other commodities are going down. Reporter Ron Scherer discusses some good news for consumers: falling commodity prices. See more below.
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OUR RADIO SHOW UPDATE My prayers go out to my co-host Doug Basham, who had surgery on his ear yesterday. I have been on vacation for the past two weeks and will resume broadcasting next week, pending Doug's recuperation. Basham and Cornell Radio Show heard weekday mornings at 8 a.m. on 1230 AM KLAV in Las Vegas, and simulcast worldwide on the web.

If you live in Vegas you can tune in Live or go to our website and listen in the audio archives.

The Basham and Cornell Show broadcasts weekday mornings at 8 am Pacific (11 a.m. Eastern) on KLAV 1230 AM Radio live in Las Vegas. Again, all shows are simulcast worldwide on the Internet (and archived) and can be listened to at Basham and Cornell Radio If you've missed our show, check out the audio archives. We have interviewed John, Elizabeth and Cate Edwards, Dennis & Elizabeth Kucinich, John Dean, Pat Buchanan, NBC Bureau Chief Tel Aviv Martin Fletcher, Pulitzer Prize winner Charlie Savage, Senators, Congressmen and women...
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MICHAEL PHELPS WINS MORE GOLD!!


American wunderkind Michael Phelps became the most successful Olympian in history with 11 gold medals after victory in the 200 metres butterfly and 4x200m relay finals at the Water Cube.

The 23-year old won his fourth gold medal of the Beijing Games in another world record performance of 1:52.03, improving on his time of 1:52.09 set at last year's world championships in Melbourne.
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RELIEF FOR CONSUMERS: PRICES FALLING

NEW YORK - After sprinting to record levels this spring, the prices for basic commodities have now fallen 20 to 30 percent.

Prices are now lower on staples such as rice, wheat, corn, and soybeans. Also down are prices for metals such as aluminum, zinc, and copper. The commodity almost everyone follows – oil – is off nearly 20 percent as well, dropping Friday to its lowest level since May 1.

Falling commodity prices have important economic implications. They may indicate that the global economy – especially in terms of the role played by fast-growing countries such as China – is beginning to slow. The prices also take some pressure off the Federal Reserve to hike interest rates to counter inflation. Last Tuesday, the Fed kept short-term rates unchanged, but it did indicate it was still concerned about inflation.

The decline in commodity prices, if it continues, could also give consumers a little more money in their wallets to pay for something other than gasoline and groceries.

"The falling prices helps shore up consumer spending and also has an effect on inflation," says Jay Bryson, global economist at Wachovia Economics Group in Charlotte, N.C. "The Fed probably does not need to tighten interest rates now."

The prospect of interest rates remaining at low levels helped ignite a significant rally in the stock market last Tuesday, when the Dow Jones Industrial Average climbed 331 points. On Friday, the rally continued, with the Dow climbing 302.89 points to close the week at 11734.32.

Although it may be too soon for the falling prices to be reflected in national inflation statistics, some of them are starting to work their way through to Americans' wallets. Last week, for example, King Arthur Flour reduced the prices on four grades of its product by 15 percent. On April 1, the company, which makes premium flour, had increased prices by 46 percent. "That price increase did not cover the difference in our costs," says Michael Bittel, senior vice president and general manager of the Norwich, Vt., company. Nevertheless, King Arthur Flour went ahead with a price decrease. "We were hoping the price would come down and we could pass that reduction back to our customers," Mr. Bittel says.

Good conditions for growing crops are partly why the grain markets have dropped in price, says William Lapp, president of Advanced Economic Solutions in Omaha, Neb. "We've had frequent rain events and no persistent heat to affect yields, so the crop is off to a decent start," says Mr. Lapp, adding, "But the questions remain: Will we have a long enough growing season since it's been cooler than normal, and how much of the crop was drowned out this spring?"

On Tuesday, some of the questions will be answered when the US Department of Agriculture (USDA) gives its first official crop report. "Usually they are accurate to within about 5 percent of the crop estimate," says Lapp, a former chief economist at ConAgra Foods.

Despite the current decline in grain prices, they remain high on a historical basis. For example, corn prices are historically between $2 and $3 a bushel. They are now $5 a bushel, down from $8 a bushel. "It's kind of like calling gasoline at $3.50 a gallon cheap," Lapp says.

Rice, another key food commodity, has also declined in price. Earlier this year, rough rice was selling for as much as $25 per 100 pounds on the Chicago Board of Trade. Now, it's close to $16 per 100 pounds, a decline of 36 percent. However, it is still about 60 percent higher than it was last year at this time.

By Ron Scherer | Staff writer of The Christian Science Monitor

MORE PHELPS: