The Kensington Review

2 January 2008


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Latest Commentary: Volume VII, Number 1
Kucinich Backs Obama as Second Choice -- Congressman Dennis Kucinich (D-OH) has instructed his backers to throw their support to Illinois Senator Barrack Obama in the event that Mr. Kucinich doesn't reach the 15% support threshold needed to secure delegates. He stressed this applied to Iowa only, but stated, “in those caucus locations where my support doesn't reach the necessary threshold, I strongly encourage all of my supporters to make Barack Obama their second choice.” This just proves that caucuses are a different kind of democracy altogether.

Kenya Erupts in Post-Election Violence -- Subsaharan Africa is a collective basket case, but there are bright spots. One of the brightest until last week was Kenya. Dictator President Daniel arap Moi left office and entered a rather luxurious retirement, and Mwai Kibaki won an election in 2002 that was largely fair and free. The country had avoided the Rwanda, Somalia, Congo sorts of disasters and had become a tourist attraction. Last week's disputed election is putting that all at risk.

Blackstone-GE Bid for PHH Sinks -- PHH is a mortgage and leasing business that General Electric has been working on purchasing for $1.8 billion. Once the deal closed, GE would sell off the mortgage part of the company to private equity firm Blackstone. The deal hasn't closed yet, and the December 31 deadline has passed. Blackstone says the bankers are at fault. The bankers are blaming the changed portfolio value of PHH. And PHH is claiming someone owes it a $50 million break-up fee. This is still more credit crunch fall out.

Predictions for 2008 -- Now that the ball has dropped in Times Square and 2008 is officially here, a few predictions about the year ahead are in order. As usual, this journal offers a forecast with no qualifiers, hidden meanings or chance for reinterpretation in the future. Empirically verifiable in 365 days, the Kensington Review predicts:

© Copyright 2008 by The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Fedora Linux.

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