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  • President Obama's anti-drilling argument uses false statistics, argues CNBC's Larry Kudlow. The president argues that America uses over 20% of the world’s oil, but has only 2% of the world’s known oil reserves. Patently untrue, says Kudlow. The U.S. has 1.4T barrels of recoverable oil, which is enough to meet all U.S. oil needs for about the next 200 years, without any imports.  [View news story]
    True, but all of those permits came from the Bush administration, not Obama's.
    Mar 16, 2012. 09:21 PM | 10 Likes Like |Link to Comment
  • S&P lowers its sovereign credit rating for the U.S. from AAA to AA+. "The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics."  [View news story]
    "..Just 10 years ago, we were in danger of paying off the debt.."

    Sorry, if you want revisionism, that is one example. We ran a budget surplus - the debt continued to grow. And 90% of that budget surplus was from the bubble. Look at the total tax receipts at the peak and just after the bubble burst.

    So yes, it was the *decades* of "spending your way to prosperity" that caused this.
    Aug 5, 2011. 09:24 PM | 10 Likes Like |Link to Comment
  • The dark side of the oil inventory release, according to Gregor McDonald: It's counterintuitively bullish, not bearish, for prices. Yes, oil prices will be rocked for months, but an inventory release highlights the fundamental problem of structurally restrained supply. The OECD could have turned to non-OPEC producers and asked them to produce more, but they have no spare capacity.  [View news story]
    I don't see a problem - we will just have the FED print more oil...
    Jun 23, 2011. 01:55 PM | 10 Likes Like |Link to Comment
  • Americans seem torn over raising the debt limit, according to a new ABC/WaPo poll. A large majority say the economy likely would suffer serious harm if Congress fails to give the government more borrowing authority. Yet barely half support raising the debt limit, even if lawmakers also sharply cut spending.  [View news story]
    Polls about anything beyond Snooky and Dancing With the Stars goes right over the heads of 2/3 of Americans, so those kind of polls don't mean much.
    Jun 9, 2011. 10:01 AM | 10 Likes Like |Link to Comment
  • Mortgage Fraud - The Root of America's Economic Malaise [View article]
    This statement is not true: "the American character has become corrupt. The moral backbone of the country has turned to jelly. Anything goes, there is no more right or wrong, the dollar is the only measure of success in life."

    Or perhaps more accurately, it has always been true - since long before the caveman stepped out of his cave. The difference over the past decade has been that government has made it so easy to defraud - in many cases actually encouraging it.

    And they not only encouraged it, they then turned around and blamed "all the usual suspects" - which is anyone but their constituents. Even now, in the face of massive fraud evidence, the government continues to ignore it - and perpetuate it with yet more schemes such as huge tax breaks. Mortgage fraud has become so common because there are no consequences anymore.
    Dec 27, 2009. 11:36 AM | 10 Likes Like |Link to Comment
  • It's About Unemployment, Stupid [View article]
    While that sounds all nice and touchy-feely, explain to me exactly how that will help the company not go out of business because their expenses are more than their income. You seem to think it is better to not fire anyone, and then collapse and fire everyone when it all goes bankrupt.

    On Dec 09 07:36 AM chris coonan wrote:

    > To save existing jobs, I have a radical new idea for a law, aimed
    > at mass layoffs.
    > The supervisor, who signs the termination order, and all those found
    > to be in consulation with terminating staff, shall present the severence
    > agreements in person not only to the affected employee, but also
    > to immediate family members, including spouces, domestic partners,
    Dec 9, 2009. 10:49 AM | 10 Likes Like |Link to Comment
  • Not All Green Jobs Were Created Equal [View article]
    The so-called "green jobs" is mostly a myth. One reason the number look better than real is because green has been redefined to fit the agenda. Many of those jobs are not new - but a construction worker that installs insulation is now magically added to the green jobs creation tally board. Even though he was doing the same thing 20 years ago...
    Jul 7, 2009. 10:21 AM | 10 Likes Like |Link to Comment
  • What role do America's lazy pupils and grossly underachieving school system play in shaping the economy? "They still find it hard to believe that all those Chinese students, beavering away at their books, will steal their children's jobs." (The Economist)  [View news story]
    It has nothing to do with losing jobs to other countries - it has to do with complacent fat 3rd generation+ fat American kids losing out to immigrant kids. Ever notice how there is a much higher percentage of Asian kids in Universities than there are in high schools compared to other races? There is a reason why for many years the fastest growing jobs are low-skill fast food & car wash type jobs.

    On Jun 13 08:56 PM Ankit Gupta wrote:

    > I don't think we should worry about our jobs being "lost" to people
    > in some other country... this isn't a zero sum game. If China's employment
    > increases, we will benefit. Yeah, you have a choice of how much you
    > want to study and learn, but everyone has that choice, and I'm not
    > sure the government should be messing around with more and more on
    > a daily basis.
    Jun 13, 2009. 10:23 PM | 10 Likes Like |Link to Comment
  • When millionaires say they won't stand being fleeced by tailor-made rich taxes, they mean it.  [View news story]
    Michigan, the unions, and the politicians keep whining about how that state has lost all of its' jobs to overseas companies.

    In fact, over 2/3 of the jobs that Michigan has lost since 1999 have been to other states with lower taxes. You would think that after a few years they would catch on.
    May 28, 2009. 01:03 PM | 10 Likes Like |Link to Comment
  • '60 Minutes' Tackles Rare Earths [View article]
    If you actually look at some of the Chinese companies involved in REE's, some are Zombie companies that only exist because of massive subsidies by the state. Some of those are run by the PLA (Peoples Liberation Army), some are part of some other government department.

    Anyone that thinks that China is getting the upper hand by monopolizing REE's should look at the (now banned in China) video "Under the Dome" available on YouTube. China has a massive pollution problem that will affect it for decades to come - and part of that comes from the dirty process of extracting rare earths. This article is just one of many that makes me question if China has any idea what it is really doing.
    Mar 23, 2015. 07:59 AM | 9 Likes Like |Link to Comment
  • Lithium-Ion Batteries Were A Bust, But Advanced Lead-Acid Batteries Are Booming [View article]
    I agree with you on that. I have been on SA for years, and I still recall all of the hype going on here by the True Believers who simply ignored the science and economics of EV and solar. There are still some around (as in the case of (TSLA) but their numbers have been reduced considerably by reality (and perhaps poverty from their investments...).
    Dec 14, 2012. 01:19 PM | 9 Likes Like |Link to Comment
  • Natural Gas Price Spike Will Be Bigger And Come Sooner Than Expected [View article]
    Germany closing nukes is one of the biggest Greenwash stories of the decade. All it did was move electricity production out of the country into it's neighbors. Germany now imports about an extra 60 GWH per day from Czech and France. And guess what, nearly all of that is from nukes.
    Apr 25, 2012. 02:35 PM | 9 Likes Like |Link to Comment
  • Wal-Mart (WMT), McDonald's (MCD) and Starbucks (SBUX): Why do you pay your employees so little that most of them are poor? Profit margins at many big U.S. firms are near all-time highs, so there's plenty of room to pay more, but they've made the short-sighted decision not to do so. Henry Blodget thinks if they spent half their profit on better wages, it would help the employees, the companies and the economy.  [View news story]
    The politicians and pundits/bloggers on the Left are always quick to point out the "record profits" of large corporations, but totally ignore the actual percentages of profit margin. Their favorite target of course is the "big oil companies", but for some reason they always fail to mention the 100's of thousands of jobs in those corporations.

    What the author also fails to mention is that a large majority of those "high paying union jobs" were at the expense of anyone not in the union - which at that time included almost anyone not white.
    Feb 18, 2012. 12:20 PM | 9 Likes Like |Link to Comment
  • S&P may have more to worry about than just the U.S. Senate investigating its credit downgrade decision. There's mounting evidence that the ratings agency leaked the pending action to a select group of banks and hedge funds prior to its public announcement, which is a clear violation of SEC rules.  [View news story]
    Just a thought - but it is also possible that the leak came from the White House. Would not be the first time.
    Aug 9, 2011. 07:27 PM | 9 Likes Like |Link to Comment
  • Pulling out the big guns in the battle over the debt ceiling, President Obama tells CBS he cannot guarantee Social Security checks will go out on August 3 if the issue is not resolved. "There may simply not be the money in the coffers to do it."  [View news story]
    That is absolute 100% Bulls**t. SS breaks just about even right now - the checks could be paid for with current receipts for years.

    I hate this stupid fear-mongering by this guy. I hope Charley Sheen wins in 2012, can't be any worse than what we have running now.
    Jul 12, 2011. 01:36 PM | 9 Likes Like |Link to Comment