Maul Man woke up early this morning.

36 degrees here in the Mad River Valley, clear skies, new moon, stars on fire, and a "soft" frost on the ground. The forest is breathing heavy this morning.

Walking through the mist, Maul Man discovered a harder frost down in the Valley - ice on the shredded corn stalks and pasturage - along the Mad River.

Bad news: the Red Sox choked again last night. Maul Man knows he should be sad about this, because so many of his neighbors will be.

Maul Man is more disgruntled, though, to learn that another high school in Vermont is succumbing to the new demands of the "surveillance society" - installing eight new video cameras to monitor student activities.

Out of respect for this school's privacy, Maul Man will keep the school's name to himself.

Good news, though: the "Emoticon" turns 25 years old today. Maul Man wishes a "Happy bithday" to that digital "smiley faced" rascal.

And Maul Man is interested to learn, upon listening to the radio, that the Empire enjoyed a "thunderous rally" on world markets yesterday, as the Fed goosed short term interest rates down 1/2 a percentage point,

Never mind, Maul Man thinks, the accelerating inflation that is sure to follow, making it hard for most neighbors Maul Man knows to make ends meet.

Maul Man is interested in long term trends.

Longer term interest rates are rising.

The price of a barrel of oil topped $80 the other day for the first time in recorded history.

Wheat prices globally are at record levels.

Gold - that investment of "last resort" - just hit a new 28 year high.

But back to the Fed.

Maul Man read an excerpt from Alan "irrational exuberance" Greenspan's book THE AGE OF TURBULENCE in "News-Speak" magazine last night.

Maul Man is not an economist, but even Maul Man knows that the Fed is in the business of creating and popping "money bubbles."

And that the latest "mortage mess" - thousands of home owners getting their ARMS cut off (that's "adjustable rate mortages" for us little people who aren't in the know) - is probably the tip of the iceberg, giving the quasi-religious nature with which the Empire bows down to Moody, S and P, and the whole "ratings game."

Maul Man does not care if he mixes metaphors.

But Maul Man does care that "voluntary compliance" in the mortgage industry does not and never will work, and that future regulations of the same are not likely.

Sub Prime indeed.

But the leaves are beginning to go, and the morning is indeed stunning along the spine of the Green Mountains, here at the edge of the US Empire.

Maul Man likes leaves.

And Maul Man is interested to learn that the state of New Hampshire has now set up "fall foliage cell phone alerts" to ensure that leaf peepers visiting the Granite State will receive up-to-the-moment accounts of leaves as they pop, so peepers can peep and picture-take.

Maul Man dares you to say that last phrase five times fast.

And if you think Maul Man is making this up, visit NH Foliage Alert.

Maul Man is glad he lives in the Green Mountain state, where he can appreciate the leaves without resorting to calling a cell phone for "peeping" instructions.

Another day here in the once and future republic.