There’s an interesting account of behind-the-scenes lobbying in the Palace, to retain or be given jobs: see Last-minute lobbying stalls Cabinet revamp:Reyes, who is now on his fourth Cabinet post since he was appointed defense chief in 2001, earlier appealed to the Chief Executive during cocktails at the Palace after she delivered her State of the Nation Address last July 23……Also Monday, Commission on Higher Education (CHED) chairman Carlito Puno said in an interview at dzMM that it is still not yet clear whether he would indeed be replaced by National Economic and Development Authority (NEDA) director general Romulo Neri as disclosed by the latter on Friday.In the Senate, Villar and Pimentel will meet on committees….  The 50 or so million Filipinos who depend on monthly remittances from their relatives working abroad have lost some 18 percent of the peso proceeds of their dollars, compared to two years ago.So have the enterprises that depend directly on tourism: hotels, restaurants, tour guides, resorts……[A] strong peso—and its twin, a record-breaking stock market—benefit only a small group of people: Players in the stock market and foreign portfolio managers who speculate with hundreds of millions of dollars, hiring no more than a couple of secretaries and messengers, but who will not hesitate to stampede out of the economy at the first hint of trouble, as they did in 1997.The overwhelming majority of the population suffers from the strong peso.Theoretically—and I underline that word—a strong peso makes oil imports, our biggest single import item, cheaper….  They are called “Ponzi borrowers” as they need persistently increasing prices of the assets they invested in to keep on refinancing their debt obligations.The other important aspect of the Minsky Credit Cycle model is the loosening of credit standards both among supervisors and regulators and among the financial institutions/lenders who, during the credit boom/bubble, find ways to avoid prudential regulations and supervisions.Minsky’s ideas and model fit nicely the last two US credit booms and asset bubbles that ended up in a recession: the S&L-based real estate boom and bust in the late 1980s; and the tech bubble and bust in the late 1990s.

The Hitler Safety Dance.

This entry is based on the ongoing blogger project, The Top 10 Emerging Influential Blogs in 2007, of Janette Toral….  I’m not 100% sure they’re all post-August 2006 blogs, though.1….  stories from the middle earth press room7.

The story carried by the Xinxua News Agency says it best: Philippines says U.S. aid reduction not to affect military modernization program.A flurry of local headlines puts it this way:But a few weeks ago, these was what the administration was saying: Palace thanks U.S. Congress for $30-M foreign military funding to RP:Malacanang expressed today its thanks to both houses of the US Congress and Executive Branch for appropriating a $30-million foreign military funding to the Philippines to fight terrorism and bring lasting peace and progress in Mindanao.Press Secretary Ignacio R.  Bunye said both Houses of the US Congress have approved and even increased by almost three-fold to $30 million the military funding for the Philippines from the Executive Department proposal of only $11 million.In a statement, Bunye said the increased amount was appropriated under the 2008 Foreign Military Funding bill by both Houses of the US Congress even after several Philippine groups “have tried to stop the US funding for reasons of political expediency.”……Bunye added that the US Senate Committee on Appropriations also increased to $30 million from $26 million the Economic Support Fund for the Philippines and urged the Executive Branch to request for more once there is a peace agreement between the Philippine government and the Moro Islamic Liberation Front (MILF).So what happened?Take a look at this report,Titled, Abu Sayyaf: Target of Philippine-U.S….  The Philippine government might change its previous policy of opposition to a U.S. military role against the MILF and encourage U.S. actions against the MILF at least in a role similar to that in the joint operations against Abu Sayyaf.If significant elements of the MILF opposed a peace agreement and moved closer to JI and Abu Sayyaf, and if they were able to continue or expand terrorist operations, the Bush Administration would be faced with a different kind of challenge but one that could include similar pressures for greater U.S. military involvement.

However, the proposed budget won’t actually be submitted to the House until August 22, which is two days before the deadline set by law.Yesterday, on Twink Macaraig’s show, I suggested that the President’s consistent failure (or more properly, refusal to conform with tradition, much as of course she complies with the deadlines imposed by law) to submit her proposed budget after making her speech, reflects her approach to the presidency and her attitude towards building the Congressional alliances necessary to get things done….  At the end of the whole thing is the President’s ability to veto legislation, including whatever General Appropriations Act the Congress passes.Now, to return to my point on the significance of the President’s not submitting her proposed budget after she delivers her Sona….  Much as we more often than not disagree, faithful readers like Rego and Bencard (and even occasional visitors like Benign0) do make a vital point when they ask, what’s all the hubbub about, and, with all the attention focused on the President, the deeper problems won’t vanish, even if she vanished, and whether she goes sooner or later, what will those who are itching to replace her hope to achieve?

A bit of legislative agenda here and there on the political assassinations and a pitch for education here and there.85% of the body of the SONA – highways, byways, airways, waterways – tell us that the nation has a President who is surely a ways-and-means committee leader (no pun meant); that the country has always had her, a President who, during work-hours, was awake and able to sign infrastructure contracts and disbursement vouchers and priority yellow-tabbed instructions to the budget department for her allies (never mind commissions up and down here and there).And she concludes with an analysis of what is rapidly becoming the most quotable part of the President’s address:Her real sentiment is found at the end of her speech, the most applauded, cued or not….  Of course, my students see the valid need in working abroad and do not disregard their efforts — a lot have relatives and friends working as OFWs, calling them martyrs — but most would rather have it that they stay.Here’s what other students had to say: Underside found it “a load of crap”; ar_21684 focused on fashion, to make a political point; quinkoy tawops was very appreciative of the SONA, and deepened his admiration of the President; put these and other student’s comments together, and you will find a picture very similar to what AKOMISMO’s described.For other reactions, few bloggers were as thorough as Tingog.com, who put forward what he thought were 10 key highlights from the address….  The Archbishop and Ellen Tordesillas pretty much agree on what, to them, the President’s address truly signified: a warning.moolah matters points to Money Smarts list of economic promises in the SONA (Reyna Elena, on the other hand, brings up past SONA promises), and reflects on the President’s remark on “social safety nets”, and how families need to create their own safety nets.An OFW in Hong Kong wants less talk and more action (an impatience with rhetoric is also shown by Giornale di un Signorino’s choice of a quote from a congressman).

Opposition split on snubbing SONA: my view is, Boycotting the SONA is wrong.Starting around 10 AM…  Even before the national anthem was performed at the opening of the House, the trouble started….  Garcia’s thundered that the rules have ceased to be.I got the above information as texted updates as of all days, the Skycable connection conked out and DZBB, where the action was reported live, was impossible to find online, so I had to unearth a functioning AM radio…See Chaos mars opening at House.11:12 AM Meanwhile, at the Senate (where Battle at Senate degenerates into name-calling, which could have been embarrassing if the House didn’t end up going nuts, as it has), Protesters greet Zubiri’s first day in Senate while the voting for Senate President is ongoing.

Understanding Poverty: The Poor Talk about what it means to be Poor, Anvil Publishing.

Puno has clearly not outlived his usefulness.The cherades involving Reyes and Atienza is part of a bunch of cabinet appointments that resulted in Energy Secretary Lotilla either getting his wish to be replaced, or actually being fired (one press account had him reacting to a reporter’s phone call with surprise, not knowing he’d been relieved of his portfolio)But now she’s hinted she may want to stick around: Arroyo hints at running for Congress in 2010….  Changing our values: allowing crooks to win as long as they feed us; allowing liars to move on, as long as they feed us; allowing corrupt officials to run our coffers dry, as long as they feed us. But what if they can no longer feed us?And the President has gambled on these things helping her, politically: her hand-picked constitutional successor is widely assumed as unfit for the job (the corollary being, while she’s alive, the President can stop worrying about her Veep; and if she dies, then what happens to the country isn’t her problem, anyway); and things like “the stock market is high,” and “the peso is strong,” and “investments are up,” combined with “the deficit’s under control”, means big business, which could finance her ouster, won’t want to rock the boat.But as I’ve been saying even before the elections, the President’s claims to fame are getting wobbly.1….  Because we ourselves are unhappy with it…everybody seems unhappy with it.”Meanwhile MILF given one week to surrender ambushers, while 2 ranking Marine officers sacked over Tipo-tipo clash.Howie Severino blogs about the MILF being armed with weapons and ammo from American aid given to the AFP.In other news, Formalin-laced White Rabbit candy banned; blogger Reyna Elena, who spent a recent trip home eating that candy, asks, “have you been embalmed yet?”

THE LONG VIEW Devolution of the House By Manuel L. Quezon III Back in 1999, then-Speaker Manuel Villar Jr. gifted his fellow congressmen with an old book. Its title was “Rules of the House of Representatives, Commented and Annotated,” by Inocencio B. Pareja. Published in 1963, it represented what, by then, was half a century [...]