Social Media Bursting Bubbles

From Business Insider, an online news site, an article titled “This Guy Represents The Biggest Bubble Yet” talks about how Keith McCullough, CEO of Hedgeye, thinks politics is the next bubble.

The story is really shallow, but it made me think of the bigger picture. If there is a bubble it’s actually part of a transparency bubble that exists in every private and public sector. If it bursts it will be because the sector didn’t share the truth with their customers or constituents. This is a growing concept in social media and it pervades the latest generation(s) of workers/voters. Basically the concept says, “if you can’t converse with me and be honest then I don’t want to be your friend and you can’t follow me.”

Doing a Google search for this topic I found a note-page on Facebook that was written by Keith McCullough that talks about the bubble of U.S. politics.

Budget cuts for Texas’ universities

In 2009 I said the recession isn’t over. I guess it needs to be said again – for future reference: history repeats itself! This is the third time I’ve gone through a recession or slow-down or bubble-burst in the 15 years that I’ve lived in Texas. In the public sector, especially higher education, I think the recession doesn’t really hit until 2 years after the worst of it hits the rest of the world. If we say the recession started in 2008, it was at its worst in 2009, then higher education can expect the worst (at least in Texas) in 2010-11. It’s no coincidence that the Texas legislature is deciding the biennial budget for 2010-11, and universities are facing huge budget cuts – some as much as $14 Million each year. The worst is still to come.

Texas A&M may have to cut $28 million out of its budget over two years. Source: Texas A&M looking for funds to cut after state mandate | The Eagle.

What does it mean to be the worst for an institute of higher education? It means the legislature cuts state monies going to the university systems. In Texas there are at least 6 major university systems: University of Houston System, University of North Texas System, University of Texas System, Texas A&M University System, Texas State University System, Texas Tech University System.

Texas A&M-College Station is in the early stages of identifying potential cuts. Officials have asked departments to prioritize projects in case the state doesn’t provide all the requested funding. Source: Texas universities to cut back after endowments hit | Dallas Morning News.

Second verse same as the first

Back before Thanksgiving I said Texas gubernatorial race is like musical chairs. Well, here’s the second (or third or fourth) verse. It’s the same as the first. On November 23, Houston Mayor, Bill White held a press conference to announce he will announce his decision to run for governor by December 4. As promised he announced yesterday that he will run for governor. After he made that announcement, Hank Gilbert dropped out of the race and endorsed Farouk Shami.

Meanwhile, Governor Rick Perry, the longest serving governor, made his announcement for an unprecedented third term.

Like Paul Burka says, “Perry is now fighting a two-front war.” One with Democrats in the general election and one with the Republicans in the primary. While most people think the primary will be a joke, Perry still has to be careful. The issues Perry raises in the primary wont be the same as the issues in the general election.

If you’re keeping a score card:

Republicans: Rick Perry, Kay Bailey Hutchison, Larry Kilgore, Debra Medina

Democrats: Bill White, Kinky Friedman, Farouk Shami, Felix Alvarado

Obama coming to the heart of conservatisim – Aggieland

Hundreds expected to demonstrate Friday at A&M during presidential forum.

By Nathan Adkisson | statesman.com

Thursday, October 15, 2009

A&M official: “We expect our students will treat the president with respect.”

Officials say about 20 organizations have reserved space to demonstrate on campus, including several Tea Party groups, the College Democrats and the College Republicans. While Texas A&M has not prohibited any groups from protesting, university officials said they expect demonstrators to honor the Aggies’ well-known code of conduct.

It’s not students we fear. It’s the hundreds of non-Aggies being bussed in from all over Texas – Tea Party groups – that probably did not vote for Obama and probably will try to stir up trouble.

I think Friday will be a good day for everyone to stay home.

President Obama speaks at Texas A&M

UPDATE:
It wasn’t that bad. North of campus and we didn’t hear or see anything unsual – we were in the office when he arrived and at home when he left. But, Obama, Bush 41, and Gates all came to town in support of a Points of Light/Volunteer forum.

Watch Out Teacher Retirement System Might Fund Trans-Texas Corridor

Cronyism and the Corridor
Monday, October 12, 2009
posted by paulburka at 3:07 PM
Source: Burkablog: Texas Monthly.

The Statesman reported yesterday that Governor Perry is removing Linus Wright, a former Dallas school superintendent, as chair of the board that oversees the $88 billion Teacher Retirement System and will replace him with a current board member who is also a member of Perry’s campaign finance team, Dallas real estate investor R. David Kelly. (Wright succeeded Jim Lee, who was one of three co-chairs of the Perry fundraising apparatus; Lee had resigned in the wake of news reports that he had run up six-figure gambling debts in Las Vegas.)

The removal of Wright occurred just a few days after Perry had announced the death of the Trans-Texas Corridor.

In my humble opinion this is something we need to watch and keep in check. If TRS is raped to fund the TTC we loose twice.

OPED: Governor’s race costs some regents posts

Here is more mud from one of Kay’s sites: http://texans.forkay.com/news/9-10-09_ICYMI_Chron_Decries_Perry_Power_Grab

Perry is hardly unique among Texas governors in using appointments to further his ambitions. However, in the current campaign the incumbent is subordinating competent governance of public university systems to his own re-election efforts.

In doing so he only strengthens the argument of Hutchison that a decade-plus tenure as governor fosters cronyism and misuse of official powers.

Source: Primary casualties: Governor’s race costs some regents posts | Editorial | Chron.com – Houston Chronicle.

Did you hear about “Cap and Trade”

In case you missed this one – I almost did – it sounds like the tree huggers tried to slip a fast one through congress: Senators Spend Recess Fine-Tuning Messages on Cap and Trade – NYTimes.com.

If ever there was a time to look at nuclear it is now. Actually, the Nuclear Regulatory Commission (NRC) has approved several “small” and “clean” reactor designs.

The industry has been working on something smaller, cheaper, standardized, and easy to build since construction on new plants ended nearly 20 years ago. The double digit interest rates of the 80’s combined with attitudes after Three Mile Island (TMI) crippled the nuclear industry. Clean, safe, and easy-to-build nuclear power is not only possible but essential for the future of U.S. energy need.

Time for campaigns to report earnings

AUSTIN — Gov. Rick Perry’s blind trust had capital losses of $567,529 in 2008 but still managed to provide the governor and his wife, Anita, with $28,043 in income, according to tax returns released Tuesday.

Perry has routinely released his tax returns to the news media when requested since 1998.

His Republican primary opponent, U.S. Sen. Kay Bailey Hutchison, has not yet released her returns, but her campaign has said she will do so.

via Governor’s ‘08 tax return released after extension | Top stories | Chron.com – Houston Chronicle.

…

U.S. Sen. Kay Bailey Hutchison’s campaign for governor has promised to release her income tax returns later this week. We will update when they do.

via Kay Bailey Hutchison financial statements | Texas Politics | Chron.com – Houston Chronicle.

Texas Legislature

I love the state legislature. What a bunch of talking heads. What a cushy job. A bunch of junk flew through on the last day of regular session (June 1, 2009) and they all feel good about themselves for doing what’s right. They closed sine die and now everyone gets to sit back and watch Texas go up in smoke; perfect metaphor of the heat this summer.

How Two Journalists Might Start WWIII

Tax Day Brings Out “Tea Party” Protesters

Photo: AP Photo/George Ruhe

Tax Day Brings Out “Tea Party” Protesters – CBS News: “The demonstrations mark the culmination of a movement spurred in part by a February rant from CNBC personality Rick Santelli that generated more than a million views on YouTube – and even a White House response.”

CNBC’s Rick Santelli vs. White House’s Robert Gibbs: “I think we left a few months ago the adage that if it was good for a derivatives trader that it was good for Main Street. I think the verdict is in on that,” White House spokesman Robert Gibbs said Friday.